Yes, it’s true.  The good folks in the Old Spice unit over at Procter and Gamble, after and extensive nationwide study, awarded the residents of the Valley of the Sun as the sweatiest.

 

Tests were based on estimates as to how much a person of average height and weight would sweat after walking in the mid-day sun for an hour in June, July and August.  Supposedly, for Phoenicians it works out to 26 ounces per hour.

 

Now, having lived in a few other very hot locales, including Houston, San Antonio, and rural Missouri, I have to take issue with P & G’s assessment.  As one who stays fairly active, even through the hottest summer months, nothing compares to my personal ‘Sweat Production Index” then when I lived in Texas and Missouri.  Especially Houston!  I could sweat just looking out the window in mid-August!

 

Visits to other humid summer hotspots, such as Louisiana, Mississippi, and Georgia lead me to believe that Houston is not alone.  Indeed, I must conclude that the Old Spice ’study’ must have failed to consider the humidity factor.  We mummified Phoenicians feel like fish if our humidity level hits 30%.  The only time we approach humidity levels like those mentioned above is when it’s physically raining.  The ‘dry heat’ argument doesn’t carry much weight when it’s 118 degrees out, but degree-for-degree it’s much more comfortable (spelled “drier”) than 90 degrees in 95% humidity.

 

What’s the implication here for we who sell Phoenix real estate and Scottsdale real estate?  There’s not much of one, actually.  You may find that your bottom develops a thick hide-like protective layer after entering your vehicle enough times and sitting on a sun-exposed seat.  And your hands may look calloused like you’ve spent a good growing season out in the fields harvesting cotton after gripping a white-hot steering wheel a few times.  But you will NOT produce 28 ounces of sweat in an hour, unless you’re training for the next Ironman.

 

P & G, you got it wrong!

If you’re looking for a comprehensive list of activities occurring throughout the Valley of the Sun between now and the 4th of July, look no further!  I found an awesome article that details activities, celebrations, and events, including fireworks, across Greater Phoenix.

 

Check it out here!

The AZ Republic recently reported that the FBI has indicted 38 people, including lenders, Realtors, appraisers, and escrow officers for more than $100M (yes, MILLION) in mortgage fraud.  Seems as though they’d recruit people with good credit to act as buyers on transactions in which the ’shell’ buyer would submit an offer inordinately over asking price, with a large amount of cash due back at closing.  The appraiser would over-estimate the property value so the loan would qualify and the escrow officer would assist, presumably, with illegitimate closing documents and escrow instructions.  The mortgage broker would approve fabricated loan applications and generate false loan docs.  When they deal closed, they’d divide up the cash back from the seller’s contribution.

 

One buyer, a truck driver who was recruited at an Avondale dog park, was reported to be earning $12,000/mo but actually earned only $3,000/mo.  He was promised $80,000 after his first purchase and similar amounts in subsequent purchases.  He was then left with over-inflated mortgages on properties that he was unable to afford & couldn’t sell or refinance because they were worth so much less than what they were purchased for.

 

Fraudulent transactions like these cause tremendous damage to Phoenix real estate and Scottsdale real estate markets, as well as the reputations of the true professionals who work at every stage of the sales process to facilitate the legitimate exchange of real estate from seller to buyer.

 

Many of the charges in the indictment carry prison sentences of up to 30 years and fines of $1,000,000.  The FBI has reported that this is merely the first of ’several’ cased the FBI intends to investigate in the state.

 

The integrity of public trust for Phoenix real estate professionals depends on an environment of honesty and legitimacy, and hopefully these cases of fraud and breach of public trust, once prosecuted, will lead to precisely that.Â

As a Realtor, I have access to a unique program through Lowe’s that sends special offers and discount coupons and home improvement tips by email and/or snail mail.

 

If you’re interested in this excellent program, send me your email address and/or your mailing address (OFFLINE, please) and I’ll get you signed up.  The Casa Crew respects your privacy and you can be assured that we’ll never share your information with any other 3rd parties without your permission.

Case in point: Tempe Town Lake.

 

Nine years ago the city of Tempe installed rubber dams manufactured by Bridgestone (the tire maker).  Apparently, city leaders were “TOLD” that the dams would last 20 years, more than double the manufacturer’s 10-year warranty.  Not getting the claim in writing was mistake #1.

 

Last year, a 1 foot tear was discovered during a routine investigation of the west-end dam.  Since then, several smaller tears have been discovered, as the rubber begins to break down after nine years of exposure to our extreme climate.

 

The kicker is that the dams cost $14 million in 1999.  Now, Bridgestone has gotten out of the rubber dam business (I wonder why?) and the replacement cost will approach $22 million, not including the cost of a consultant to research options for the new dam.

 

I sure hope the city of Tempe has banked a good portion of the taxes attributable to recreation, dining, retail, housing, and recreation activities around the Lake!

A recent article in the AZ Republic detailed a phenomenon that I’ve commented about recently in the AZ Real eStatesman.  Specifically, we’re now seeing lenders become extremely aggressive with their price slashing to help unload their growing holdings.

 

This tactic often benefits the bank.  Multiple bid situations and the ‘auction frenzy’ mentality can sometimes drive the price near or even over the market price of the home.  I’ve commented that it’s common for lenders to send out a multiple counter offer to all parties asking them to submit their ‘highest and best offer’ before a decision is to be made.  If 10 parties have submitted offers on a property, this request will no doubt result in at least a few increased offers.

 

An ancillary benefit of multiple offer scenarios is that the lender has the ability to select a buyer with good financial qualifications.  Think about it.  The bank has just been burned by the past owner, so finding someone with solid financial backing to complete the transaction is paramount.  Even better if that party elects to pursue financing through the lender, allowing the bank to recoup even more of it’s costs.

 

As I discussed in my earlier posting, you need to be prepared for a potentially bumpy ride if a foreclosure or short sale purchase is in your future.  You’re operating at the mercy and the whim of an Asset Manager or Loss Mit agent who doesn’t know the ‘rules’ of the state-specific purchase contract, nor do they care once you sign their “Seller’s Addendum.”  Be sure to work with a Realtor who has experience with foreclosure and short sale transactions, as it will save you aggravation and potentially quite a bit of money once the property becomes yours.

 

This aggressive pricing trend in the foreclosure market indicates two possibilities: 1) The market is bottoming out or, 2) Lenders fear what’s coming down the line and are just trying to keep ahead of a continued inventory surge.  Regardless of what the aggressive pricing may or may not indicate about the market, it undeniably serves to reduce our inventory, as evidenced by a recent jump in Pending sales.  And a healthy inventory level is a great step in the right path towards a balanced market for Phoenix real estate and Scottsdale real estate.

Walk down the plumbing aisle of any Lowe’s or Home Depot these days and there, set amidst the GE tank water heaters and mounted tightly to a plank of plywood, you’ll see what looks to be a large white or gray box with a smalll digital control panel inset.  What you’re looking at is a high-efficiency alternative to the traditional tank-style water heater, called a tankless or on-demand water heater.  Though used for years in Europe and Asia, the on-demand water heater is just now coming into favor in the USA.

 

Small tankless heaters can be installed to serve a dedicated plumbing fixture, or a larger system can be installed to serve an entire house.  As the house or fixture demands hot water, cold water is flushed through the copper heat exchanger, where it is heated by 25,000 - 380,000 BTUs (depending on the system) before being delivered to the appropriate plumbing fixture. 

 

Pros and Cons of Tankless Systems

 

PROs

Energy-Efficiency & Cost Savings:  Because an on-demand system only fires up when hot water is requested and not to maintain a reservoir of hot water, it is more efficient than traditional hot water heaters. 

 

How much more efficient?  One large manufacturer of both types of systems rates its most-efficient tank-style system at a .63 energy factor, while its tankless system is rated at .78. 

 

What kind of savings does that equate to?  In his nationally-syndicated column Ask the Builder, Tim Carter did comparative math and reported that for his family of five, he might save about $7.00/month on the efficiency differential and maybe $2.00 on the cost of keeping the reservoir heated, for a total of about $9.00/month or $108 for the year.

 

Smaller Footprint: This is one of the more attractive benefits in my book.  I’d love to get rid of that hulking, round, leak-prone monster that lurks in the corner of my garage.  A tankless unit mounts tight to the wall in a compact package.

 

CONs

High Equipment and Installation Cost: An on-demand system will cost 2-3 times as much for the equipment alone.  And if your home is being retrofitted, you may find that expensive power venting duct work is required to install the system.

 

Hot Water Demand Issues: Due to its limited output, a tankless system is ideal for steady usage and small usage requirements, but only the highest-output units can keep up with large spikes in usage (ex. 2 showers & dishwasher running concurrently).  If you’re prone to use several plumbing fixtures concurrently, an on-demand system may not be your best option.  This issue is amplified in areas where the cold water input is particularly cold, such as mountain locales, because the system cannot adequately cope with the extreme temperature differential and the high demand concurrently.

 

The ‘ideal’ candidate for a tankless system is new construction, where the duct work can be installed at time of build, and where the homeowners intend to occupy the premises for several years to recoup their installation costs.  Of course, some may be willing to pay the premium for making the environmentally-sound decision.

 

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So it seems Johnny Carson’s side-kick, Ed McMahon, has been served a Notice of Default on his Beverly Hills mansion.

 

According to public records, Ed is about $650,000 behind on payments on $4.8M in mortgage loans to Countrywide.  Apparently he broke his back 18 months ago and has been out of work ever since.  Guess he didn’t have much tucked away, at least in relative terms, even after all those years doing The Johnny Carson Show and Star Search.  His house has been on the market for more than 2 years and is listed for $6.25M.

 

Guess nobody’s immune to the housing crisis…

I’ve already posted ten of the Top 20 neighborhoods in Greater Phoenix.  Here’s the rest of the list:

 

For the Single but Looking: Downtown Scottsdale.

Gotta agree with this one.  So much to eat, drink, and do in the Old Town area, that it seems a natural fit to be able to stumble home to your condo after a night of hearty socializing.  My only beef with this is that ‘hip’ housing in the area is well out of reach of the average homebuyer.

 

Rooms with a View: The Pointe Tapatio in North Phoenix.

Really?  Pointe Tapatio?  There are some great values in this neighborhood on a mix of older and new construction, but only a handful of properties have exquisite views.  How about Troon?  Desert Mountain?  DC Ranch?  Silverleaf?  Camleback Mountain?  Paradise Valley?  Heck, if the goal is to keep it affordable, what about north Sunnyslope, at the end of Central?  Talk about amazing views of the Valley floor!

 

Family-Friendly: DC Ranch and runner-up Desert Breeze (Chandler).

DC Ranch is a great candidate for this one.  DMB has developed a phenomenal community with a true sense of community.  Amazing intranet for residents, super amenities, onsite activities, and attached shopping and dining.  If I could live anywhere with my family, DC Ranch would be the spot!

 

For the Live-/Work-Seeker: Roosevelt District.

A fair choice.  Kind of like driving down the street where Archie and Edith Bunker live, the Roosevelt district has a super architectural style of mostly 3-story bungalows with rear yard parking.  Easy access to downtown and with an up-and-coming art scene.

 

For Small-Town Boys and Girls: Verrado.

Unquestionably the right choice.  Verrado was built around the small-town America concept, with corner market, town square, and front porches with swings for lazy afternoons of socializing with the neighbors.  Good call on this one.

 

For the Food Critic: Biltmore Area.

A foodie’s paradise…there are just too many good restaurants to mention within a stone’s throw of the Biltmore: Houston’s, Christopher’s, Vincent’s, The Capital Grille, and my personal favorite - Tarbell’s.  I think I’m gonna take a moment now to honor Mark Tarbell’s peppercorn NY strip…

 

For the Music Maven: Orpheum Lofts.

This is really a development, not a neighborhood, but one cannot deny it’s proximity to the Orpheum Theatre, Dodge Theatre, and Symphony Hall make it a live music-maven’s Eden.

 

For the Compulsive Shopper: Kierland Commons.

This ranks right up there at the top of the list for serious boutique shoppers, but not for long.  Desert Ridge and North, two destination shopping developments in North Phoenix, will be a regular double-header for the compulsive shopper, once North is completed.

 

For the Fido-Friendly: Agritopia (Gilbert).

A fascinating community that’s just as strongly themed for pooches as Verrado is for small-town America.  Adjacent to the doggie park paradise known as Cosmo Park, Agritopia is replete with walking trails and craftsman-style bungalows, and even the neighborhood java bar, The Coffee Shop, welcomes your 4-legged friend.

 

For the Shut-In: 44 Monroe (Downtown Phoenix)

Again, this is is a development, not a neighborhood.  Inside the high-rise condo project, you’ll find a pool, spa, sundeck, business center, grocery store, clubhouse kitchen, and scenic patio terrace.

 

While many will take issue with some of the neighborhoods proposed as “Tops” in the Valley, nobody can argue that Phoenix real estate and Scottsdale real estate offer exciting options for just about every interest, taste, and budget, whether featured in the article or not.

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This month’s edition of Phoenix Magazine is quite interesting.  It’s dedicated to the Valley’s housing market: trends, concerns, bright spots, property value trends, and several “Top” lists, including the “Top 20 ‘Hoods.”

 

What I find interesting about the list is that there’s no explanation as to the process used to arrive at, or even who contributed to, the end results.  Was a poll conducted among Realtors?  Homeowners?  Builders?  Phoenix Magazine Staff?  Clearly the results are less-than-scientific, but fun to read and good fodder for debate around the water cooler among fellow Phoenix real estate and Scottsdale real estate afficionados.

 

Here’s the first of a 2-part posting of how Phoenix Magazine rated the Top 20 Neighborhoods in the Valley:

 

For the Vertical Dweller: Downtown Tempe. 

Numerous condo and loft projects have led to the creation of a whole new skyline for Tempe, especially around Tempe Town Lake.

 

For the Upsizer and the Downsizer: Chandler.  That’s right, Chandler. 

The magazine postulates that housing options are varied, well-priced (!!), shopping and dining amenities abound (agreed!), and that the city is proximal to major highways and the rest of the Valley.

 

For the Cowboy: Carefree/Cave Creek. 

‘Nuf said.  This one’s unanimous.

 

The Rural Fancier: Queen Creek.

The author seems to equate ‘equine’ to ‘rural’, as most of the description discusses the availability of horse staging areas, paths, and facilities.  Some mention is made of parks and accessibility to shopping and dining which, despite the recent influx of retail and eating establishments, remains woefully under-served, in my opinion.

 

For the Season Ticket Holder: Glendale’s Sports & Entertainment District, with runner-up Downtown Phoenix. 

I would have reversed these, as nobody can deny that Glendale us up-and-coming, but can’t yet compete with the jump-start that downtown has had on the West Valley ‘burb.  Downtown offers more sports bars, more loft and condo projects, and yes, many, many more games over many, many more months.

 

For Handy Types: Woodlea and Coronado Neighborhoods. 

The writer justifies the position by comparing property values to the better-known, pricier Willo and Encanto/Palmcroft neighborhoods, arguing that the ‘handyman’ who’s ready to do some serious work will find great diamonds in the rough.

 

For the Historian: F.Q. Story Neighborhood.

This is a great little district that stretches from about 7th - 15th Avenues, and is split by I-10.  This neighborhood offers the greatest concentration of the Valley’s oldest homes.

 

For the Culture Bound: Third Avenue and Palm Lane. 

2-3 blocks are within a mile of the Phoenix Art Museum, Phoenix Main Library, Arizona Science Center, and Heritage Square Park.

 

For the Rail Rider: Sunview Estates. 

The community boasts the western end of the first segment of the Valley’s light rail line.  Retail revitalization and proximity to some of the city’s most-highly-regarded private schools are pluses.

 

For the School District Snob: Madison School District, with runner-up Scottsdale Unified School District. 

This category is apt to cause the most heated debate, as general statements such as “low teacher turnover, progams tailored to educate the gifted and those with special needs, as well as a strong parents’ organization” are the bases for the rankings.  Perhaps given the brevity of the article segment or the light-heartedness of the article in its entirety, hard comparative data was noticeably absent. 

 

To be continued…