Cactus Acres Lifestyle

The Housing Market is Recovering QuicklyWhy is Metro Phoenix Leading the Nation?

Flavors Inspired by FallSeasons 52’s Aromatic Maple-Glazed Duck

Cactus AcresReal Estate Report

Ideas To Make Your Events Sparkle

Holiday Entertaining

November | December 2012

CACTUS ACRES

If your home is currently listed, this is not a solicitation for that listing. Produced by Desert Lifestyle Publishing • 480.460.0996 • www.DesertLifestyle.net

MONICA MONSON

MONICA MONSON O: 480.420.4LUXC: [email protected]

www.MonsonLuxuryGroup.com

www.ArizonaLoanPros.com

MARK MONSON NMLS #281892

O: 602.345.7404C: [email protected]

Real Estate Activity in Cactus AcresMONICA’S FEATURED LISTINGS

13445 N. 84th St.6000 Sq. Ft. | 4+ Bed | 4.5 Bath

$1,995,000

10120 E. Desert Cove5621 Sq. Ft. | 5+ Bed | 6 Bath

$1,395,000

SALE PENDING

12402 N. 102nd St.4781 Sq. Ft. | 4+ Bed | 5.5 Bath

$1,100,000

10541 E. Charter Oak Drive4575 Sq. Ft. | 4+ Bed | 5.5 Bath

$1,290,000

SALE PENDING

CACTUS ACRES REAL ESTATE ACTIVITYActive AWC Pending Closed 2012 YTD

# Listings 5 2 2 15

List/Sold Volume $4,347,000 $1,205,000 $2,440,000 $9,440,900

List/Sold Low Price Avg High

$675,000$869,400$1,100,000

$575,000$602,500$630,000

$1,150,000$1,220,000$1,290,000

$300,000$629,393$1,300,000

List/Sold Low Price Per Avg Approx SF High

$171.28$215.04$239.69

$117.32$117.45$117.59

$281.97$293.50$305.04

$111.11$170.80$245.56

Approx SF Low Avg High

2,9164,1325,821

4,8905,1305,370

3,7704,1724,575

2,1343,5605,302

Days on Low Market Avg High

958166

231232233

189201214

13144550

Source: MLS. Information is deemed reliable but is not guaranteed.

REALTOR®, CLHMS, CDPE, ECOBROKER CERTIFIED, EPRO

SPECIALIZING IN MARKETING DISTINCTIVE LUXURY PROPERTIES & STRATEGIC BUYER NEGOTIATIONS

One of the most creative luxury real estate marketing professionals in Arizona, Monica

Monson’s talents are working with luxury homeowners in creating strategic, custom

International marketing programs that reach affluent, qualified buyers. Her background in marketing and public relations has been the

foundation for a true “out-of-the-box” approach that consistently gets homes sold. Contact her today to talk about the market, your property, and her innovative strategy for your success!

OnSeptember25th,theS&P/Case-Shiller©HomePriceIndexforJuly2012wasreleased.At117.22,theindexforthePhoenixareawasupadramatic16.6%fromlastyear.OurnearestrivalwasMinneapolis,farbelowusat6.4%,whilesomecitiessuchasAtlantawereshowingafallsincelastyear.WhyhasthePhoenixhousingmarketbeenrecoveringfasterthananyotherpartoftheUSAoverthelastyear? Ourareawasoneofthehardesthitbythehousingbubbleburstingbetween2006and2008.Themonthlyaveragepricepersq.ft.foraresidentialpropertyfellfrom$190inJune2006,to$79inAugust2011,adeclineofover58%.Almostallthatdeclinehappenedinthesingleyearof2008. Intheareasworsthitbyforeclosures,thedeclinewasevensteeper;butluxuryhomeswereimpactedlaterandtoalesserextent.Asanexample,Scottsdale’szipcode85255fellfrom$351to$183persq.ft.betweenJanuary2007andOctober2010,adeclineof48%.Thiswasbelowtheaveragefor

Phoenix,butfarbeyondthepricedeclinesfeltinmostpartsoftheUSA.WecanseethatCentralArizonahadtoadjusthomepricingtomarketconditionsmuchfasterthantherestofthecountry.Inshort,wetookourknocksearlyon,butthegoodnewsisthatwewereabletostartrecoveringmuchsooner. ThefundamentalreasonsforthevolatilityofArizona’shomepricingcanbefoundinourrealestatelaws.ArizonausesDeedsofTrustinsteadofMortgages.Thismeansmorethan99%offoreclosuresarenon-judicial,completedbyatrusteewithoutgoingtocourt.ArizonatrusteesareveryefficientandwehavetheshortesttimeinthenationbetweenaNoticeofTrusteeSaleandacompletedforeclosure.Asaresult,tensofthousandsofforeclosedhomesfloodedthemarket

in2008causinganexcessofsupplywhichdrovepricesdowndramatically.Since2009,lendershaveincreasinglysoughttoavoidforeclosuresby

allowingtheborrowerstoshortselltheirpropertyforlessthantheoutstandingdebt.InArizona,realestatetransactionsarealmostalwaysconductedbyRealtorswhoonlyreceivecompensationwhenescrowcloses.Inmanyotherstates,lawyersarerequiredtobeinvolved,whichmeansshortsalesfailmoreoftenandusuallytakemuchlongertoreachaconclusionsatisfactorytoallparties.Ourshortsalesuccessrateisamongthehighestinthecountry. Whetherthroughforeclosureorthroughshortsales,Arizona’snon-currenthomeloanratehasplummetedfrom16.3%inFebruary2010to8.5%in

July2012.Thisisthelargestdropindelinquencyofanystate.Fastereliminationoftroubledloanshasmeantourmarkethasbeenabletorecoveritsstabilitymorequickly. Housingsupplyisnowwellbelownormalanddemandisstrongduetolowpricingandlowinterestrates.Theareaswherepricingfellhardestandsoonestarethosethathaverecoveredthemost.ForexamplePhoenix’szipcode85009hasmorethandoubleditspricingfromayearago.Theluxuryareasareshowingmoremodestpricegains,butthemarketisclearlyrecoveringstrength.Themarketbottomisnowadistantspeckinourrearviewmirror.

Author and statistician Michael Orr is the Director of Real Estate Studies at ASU’s W.P. Carey School of Business.

CharityGolfTournament

ArizonaGrandResort,November16th

602.955.3947|Hemophiliaz.org

Gatheryourfoursomeandpreparefor18holesof

spectaculargolfalongwithfun,interactivegames

andevents.Afterwards,stayfortheCasinoDinner

Partywithdinner,dancing,casinogames,and

acomedyshow!ProceedsbenefittheArizona

HemophiliaAssociation.

ARTrageousgalastarringBernadettePeters

VirginiaG.PiperTheater,December1st

480.499.8587|ScottsdalePerformingArts.org

Guestswillenjoyacocktailreceptionandsilent

auctionandhavetheopportunitytoviewthelatest

SMoCAexhibitionsbeforeagourmetseateddinner

andtheperformancebyMs.Peters.Seven-time

TonyAward-NomineePeterswillperformclassic

Broadwaysongsandstandards.

HolidayPrelude

PhoenicianResort,December7th

602.977.1240|PhoenixYouthSymphony.org

Grabyourmoststylishfriendsandhostatablefor

theannualluncheonandfashionshowtobenefit

thePhoenixArtMuseum,PhoenixYouthSymphony

andPhoenixTheaterGuild.Fashionspresentedby

EscadaandTheClotherie.

AthletaIronGirl10Mile&5K

FountainHills,December16th

IronGirl.com

Whetheryou’reafirst-timeroranexperienced

athlete,theIronGirleventsprovidewomen

withafantasticplatformtoreachtheirpersonal

bests.Choosefromamongthe10-milerunorthe

shorter5K.Medalstoeveryfinisherandpost-race

giveawaysareamongthemanyamenitiesof

therun.

NewYear’sEveCelebration

SymphonyHall,December31st

602.495.1117|PhoenixSymphony.org

Assembleyourfamilyandfriendsandringin2013

withthegorgeoussoundsofthePhoenixSymphony

performingyourfavoriteclassics.Thismusical

celebrationistheperfectendingtoyouryearand

mostcertainlywillsetthetoneforagraciousand

blessedNewYear!

NOVEMBER|DECEMBER2012

DUCK BREASTS WITH GRILLED APPLES & MAPLE GLAZE

FeaturingSeasons52602.840.5252|Seasons52.com

In Good Taste Event Calendar

Undoubtedlysomeofthejoysofthebusyholidayseasonarethepartiesandcelebrationsthatcomealongwithit.Whetheryou’realreadyaveteranparty-giverlookingforsomenewinspirationforthisyear,ormoreofanon-hostingparty-goerconsideringentertainingyourownguests,seewhatwe’vecompiledforsomefunandfestivecelebrations!

Retro Cocktail Party Justastheclassiccocktailhascomebackintofavorandwe’reallobsessedwithTV’sMad Men,putaninnovativetwistonyourcocktailpartythisyear.Setthemoodwithholidaymusicfromthe60s.(Amazon.comsellsanUltra-Lounge: Christmas CocktailsCDfeaturingcroonerssuchasPeggyLee,DeanMartinandRayAnthony.)Encouragegueststoarriveinsuitsandsmartdresses(hatsaplus)soyoualllookthepart.Goretrowiththemenu:deviledeggs,shrimpcocktail,cheeseballs,kebabsandmarinatedolives.Cocktails?Rolloutasnazzybarcartcompletewithvintagecocktailshakerandservealltheoldgreats:TomCollins,Sidecar,Manhattan,OldFashionedandmore.

Hanukkah Dinner LightupyourambiancewithanodtotheFestivalofLights–havecandlesburningbeautifullythroughoutyourhome.Decoratewithsparklingblues,silversandgolds.Sprinklefoil-coveredchocolategeltanddreidelsaboutthetableandincludefloralcenterpiecesofwhiteandbluewinterflowerssuchasnarcissus,tulipsandhyacinths.FoodsthathavebeenbakedorfriedinoilarecentraltotheHanukkahfeast,soserveasavorybeefbrisket,latkes,challahbreadandsufganiyotfordessert.Thereareanumberofdeliciouskosherwinesavailablenow,andthey’remorereadilyfoundinstores.

Holiday Brunch Nothingbringsfamiliestogetherforaspecialoccasionlikeafestivebrunch.Withtime-honoredholidaytunespipingthroughthespeakersandtheseasonalscentsofclovesandallspicepermeatingthehome,yourguestswillfeellikethey’vesteppedintoawinterwonderland.Askeveryonetobringawrappedornamentforanornamentexchange.Haveholidaycraftsandactivitiestokeepthechildrenoccupied.Lettheflavorsoftheseasondictateyourmenu:cranberrypancakes,maplebaconquiche,smokedsalmonandcreamcheesestrata,pumpkinBelgianwaffles,warmseafoodsaladandmore.

Fordrinks,cafésaulait,BloodyMarysandMimosasarealwaysinorder.ForaholidaytwistontheMimosa,substituteorangejuiceforpomegranatejuice.

Elegant Dinner Party Thisistheopportunitytobringoutyourbestchinaandcrystalandgoalloutwithasumptuousfeastforanintimategathering.Invitegueststocomeintheirfinestholidayattireandserveamenuthatstandsuptotheelegantoccasionyou’representing.Tryoystersoup,asage-encrustedribroast,roastedrosemaryandgarlicpotatoes,Yorkshirepudding,creamedspinachandadecadentchocolatepeppermintcheesecakefordessert.Toaddtothefestivities,includesomeChampagnetastingasanactivity.Testyourguestswithablindtasting,orsimplygiveguestsaratingsystemandleteveryonechoosetheirfavorites.

Caroling Party Ifyou’realittleshyaboutsingingtoyourneighbors(don’tbe,they’llloveit!),organizeatriptoanursinghomeorhospital.Acarolingpartyistheperfectwaytoblendthesoundsandtheflavorsoftheholidaysintoafuntradition.Whenyourguestsarrive,warmuptheirtummiesandtheirthroatswithacasualbuffet.Thinkplentyofhothorsd’oeuvres,perhapsabakedham,butternutsquashsoupandsteamingloavesofcrustybread.Preparecustomsongbooksforcarolersandsupplyeveryonewithacandleandwaxprotector.Afterallthecarolingfunisdone,everyonecomesbacktoyourhometoenjoyeggnog,spicedappleciderandalargearrayofChristmascookiesinfrontofacozyfire.

INGREDIENTS:6duckbreastsorchickenbreasts1/4cupmaplebourbonglaze(seerecipebelow)3apples,grilled(specialtyredorGrannySmith-yourchoice)koshersaltandpeppertotasteseasonalvegetableandfreshthymeorsagetogarnish

PROCEDURE:Pre-marinateduckbreasts(seeglazerecipe).Seasonduckbreastswithkoshersaltandblackpepper.Heatgrillandcookduckbreastsovermedium-highheat.Cookducktodesiredtemperature,approximately5minuteseachside.Glazeduckbreastwhilecooking.Removeduckfromgrillandletresttenminutesbeforeslicing.Shingleducksliceswithgrilledapples.Drizzlewithmoreglazeandservewithseasonalvegetables.

Serves: 4

MAPLEBOURBONGLAZEINGREDIENTS:1/4cupmaplesyrup1/4cupbalsamicvinegar1/4cupbourbon1canchickenstock,lowsodium(10½oz)1/2tsp.Tabasco,chipotle1/2tsp.koshersalt1/2tsp.Worcestershiresauce2shallots,peeled,minced1Tbs.thyme,fresh,washed,pickled,mincedNote:usehalftomarinate,andusehalfasglaze

PROCEDURE:Combineallingredientsinamediummixingbowl.Whisktogether.Reserve½cupofmarinade.Pourover2lbs.ofskinlessduckbreasts.Marinatecoveredintherefrigeratorforaminimumof4hours.Placetheremainingmixtureinasmallsaucepot.Cookonmedium-highforapproximately15-20minutesuntilglazethickens.Reserveuntilreadytouse.

Yield: 2 1/2 cups

WHY IS THE VALLEY’S HOUSING MARKET LEADING THE NATION IN RECOVERY?By Michael Orr