Searching Zillow for houses seems to have become an American pastime especially throughout the pandemic when people were looking for more space for a home office and a bit more breathing room to escape from screaming children, loud televisions, and even their pets, while being cooped up. 

As an agent, I appreciate clients doing their homework, finding out what the market is bearing, and finding listings that represent the buyers’ desires. Oh, but that Zestimate… I’m probably not the first real estate agent to tell you these “zestimates'' are inaccurate at best, and downright deceptive at worst, but it’s true; if you’re relying on automated valuation models found on the internet by companies that have a vested interest in getting you to list and buy with them, you may find yourself mighty disappointed - zestipointed if you will. 

Many people were tempted to have Zillow come and make an offer on their homes. When they saw what that “convenience” would cost, shock kicked in. Did you know their closing costs and fees were 8-12%? That is substantially more than a regular real estate sale. It’s hard to believe they lost money with that amount of customer fleecing.

However, after reporting losses of approximately $304 million in the 3rd quarter from their home buying segment, and a projection of another $240 million loss for the 4th quarter, Zillow decided to end their program altogether. If you’d like to read their announcement click here.

It’s no surprise to me that Zillow is closing down its “ibuying” platform. Shocking to no one but apparently Zillow themselves, buying properties at inflated prices and then selling them for a loss is not a winning business model. Further, they’ve even discussed how challenging it is to get an accurate “future sale” price in volatile markets which makes their zestimates a lot more like a guesstimate. 

I will still encourage you to house hunt and dream (and let’s face it judge - who paints their kitchen green and red polka dots?) on Zillow. But when you want to know the value of your home, I offer a ‘bank grade’ Collateral Analytics tool along with a Comparative Market Analysis to accurately assess the value of the home. You MAY receive more than that value in this hot market due to the lack of inventory, but not because your home’s value zestfully grew. 

If you’d like to know your home's current value, feel free to reach out.

We may not have snow, but we know how to make the Holidays Bright!

What is Christmas without the Nutcracker? Our own Arizona Ballet performs this timeless classic at several venues around the city. 

https://balletaz.org/2021-2022-season/

A hallmark of the holidays in Phoenix is the Zoolights event. Come out for a magical evening of holiday lights while you stroll through the zoo with a hot chocolate while listening to holiday music. It's a beautiful must see event. 

https://www.phoenixzoo.org/zoolights/

Who says you can't ice skate outside in the desert?? Strap on your skates in the city center in downtown Phoenix and enjoy an incredible time skating with the people you love.

https://azbigmedia.com/lifestyle/cityskate-returns-to-cityscape-phoenix-for-the-holiday-season/

The Botanical Gardens located next to the Phoenix Zoo, offers a romantic sophisticated evening with cultural interest. 

https://dbg.org/events/las-noches-de-las-luminarias-2021/2021-12-03/

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Don't miss the symphony performing Handel's Messiah. 

https://tickets.phoenixsymphony.org/overview/10524?psn=10524

What is the 1031 Exchange?

The exchange rule allows for the deferment of capital gains on investment properties if you “exchange” one property for another.

1031 Breakdown: 

1.       Both properties must be used for the same purpose – any 2 investment or business properties could be considered ‘like-kind’ “even if they differ in quality or grade.”

2.       The properties being bought and sold must be in the same person’s name.

3.       You can sell your home for another personal residence but not to purchase a different type of building for a business such as a warehouse in exchange for your home.

4.       To qualify for 100% tax deferment, the new purchase must be equal to or greater in value than the one being sold.

5.       You have a time constraint! You have 45 days to choose 3 replacement properties that are qualifying like-kind exchange candidates. To get the 100% tax deferment, the exchange must be completed within 180 days.

You can exchange properties from one location to a more desirable or up-coming area to get better returns for your next exchange. There is NO LIMIT for how many exchanges you can do and this is an optimal way to shift your investment capital to maximize returns.

If you’re looking to DOWNSIZE you can also benefit from the 1031 Exchange.

You only pay capital gains on the difference between the property sold and the property purchased. For example, if you sell your home for 1,000,000 and buy a new home at 775,000 you only pay the capital gains on the 225,000 and defer the tax on 775,000.

You can qualify to do a 1031 exchange if you are an:

Individual

C Corp

S Corp

Partnership (general/limited)

LLC

Trust

Any tax paying entity

If you want more specific details, click here for IRS Code 1031. https://www.irs.gov/businesses/small-businesses-self-employed/like-kind-exchanges-real-estate-tax-tips

Chocolate Lava Cake

Chocolate cake is one of the most beloved desserts, but it can be time-consuming to make. Luckily, this recipe takes everything you know and love about this decadent treat and turns it into an easy-to-prepare, single-serve dessert.

Serves 2 to 3 hungry chocolate lovers

Ingredients

6 tablespoons unsalted butter, plus more for brushing

¼ cup all-purpose flour, plus more for dusting

3½ oz. 70% dark chocolate

3 eggs

½ cup plus 1 tablespoon granulated sugar

1 teaspoon unsweetened cocoa powder, sifted

1 Tbl milk

Instructions:

1. Brush the mugs with butter and dust with flour. Chill for at least 1 hour before starting the recipe.
2. Using a knife, chop the chocolate. In a medium bowl set over a saucepan of simmering water, melt the chocolate with the butter, stirring occasionally, until smooth and lukewarm.
3. In a medium bowl, using an electric beater, whisk the eggs with the sugar but don’t let the mixture lighten in color. Whisk in the melted chocolate and butter. Whisk in the flour, cocoa powder, and milk.
4. Divide the batter among the mugs and chill for at least 1 hour. The cold batter will cook less in the center, creating a molten texture.
5. Preheat the oven to 400°F. Bake for 7 to 8 minutes, until the surface starts to crack but the batter remains wobbly below.

Scottsdale is known as being a top destination for culture and fine dining, however, its stunning desert landscapes also make it one of the best locations in Arizona for hiking. With more than 400 miles of trails in the area – there is something for everyone, from family-friendly paved trails and dog friendly hikes, to challenging treks for experienced athletes. Read on to discover some of the best hiking trails in Scottsdale and surrounding areas.

*Keep in mind that Scottsdale summers can get very hot, with July temperatures averaging 105+. During the summer months, make sure to plan your hikes for the early mornings and bring plenty of water.

Camelback Mountain

Camelback Mountain is a popular hiking destination in the Scottsdale area that attracts both local hiking enthusiasts, as well as visitors from around the world. It features two hiking trails: the Echo Canyon Trail and the Cholla Trail. Both of these trails are challenging and offer an intense workout. The Echo Creek Trail is the steeper option, with a 1.23 mile trek to the summit. At 1.42 miles to the summit, the Cholla Trail is longer and typically less crowded. If you decide to take on this hike, you will be rewarded with stunning views of Scottsdale and Phoenix.

Pinnacle Peak Summit Trail – Pinnacle Peak Park

If you’re in the mood for a moderately difficult hike with picturesque views, the Pinnacle Peak Summit Trail at Pinnacle Peak Park is a great choice! Located in North Scottsdale, this 1.75 mile out-and-back (3.5 mile roundtrip) trail leads to a summit with expansive views of the Valley. The park also offers a trailhead office with informational materials, picnic tables, a shade ramada, and restrooms.

Tom’s Thumb – McDowell Sonoran Preserve

The Tom’s Thumb Trail is one of Scottsdale’s most popular hikes, and offers amazing views of Tom’s Thumb, the uniquely-shaped rock formation that gave the trail its name. This is a challenging 4 mile out-and-back hike that features a 1,200 foot elevation gain, rocky terrain, and many switchbacks. The views of the southern McDowell Mountains make this hike worth it, but make sure to bring plenty of water and gear to protect yourself from the sun, as there are no shady areas along this trail.

Gateway Loop Trail - McDowell Sonoran Preserve

Another trail in the McDowell Sonoran Preserve to consider is the Gateway Loop Trail. Although this is a longer trail, at 4.5 miles, it lends itself to a more relaxed pace and allows you to enjoy the beautiful views. You may even spot some wildlife along the way! Gateway Loop Trail would be a great family excursion, as kids with some hiking experience may enjoy coming along.

Treasure Loop Trail - Superstition Mountains

The Superstition Mountains, located east of Mesa, offer many trail options for every interest and level of hiker. If you’re looking for an easy to moderate morning hike, Treasure Loop Trail is a great choice! This 2.4 mile loop features stunning views, beautiful wildflowers, and lots of wildlife. It is also kid and dog friendly, so bring the entire family for an outdoor adventure!

Alta Trail - South Mountain

Are you an experienced hiker looking for a challenge? If so, Alta Trail in South Mountain Park/ Preserve is the trail for you! This 4.7 mile point-to-point trail is fairly steep with switchbacks, and areas of loose dirt and rocks. Alta Trail will test your fitness, but pays off with breathtaking views of South Mountain Park and Phoenix.

You’ll be rewarded during all of these Scottsdale hikes with gorgeous views, lots of wildlife, and striking desert landscapes. Make sure to go early in the morning during the warmer months, and always be prepared with lots of water and sun protection gear.

Do these great hiking spots have you thinking about moving to Scottsdale? I can help you find your dream home! Click here to learn more.

Like this article? Please feel free to share it on your social media pages or post a link on your site: https://www.the480group.com/blog/best-hiking-trails-scottsdale/ 

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.