Carefree (PW)-CNN producer Amy Ambatielos had heard about it in a blog, an historic gold mine in Scottsdale, Arizona, and right away she thought it would make a nice feature for CNN Money. The network put the story on a fast-trac and assigned photographer Stevan Pope to do the story in late April for the network's "Unique Homes" feature. Although there are no homes on the property, she thought it was such an unusual offering, it would make for an interesting piece. The story was on CNN Money before the end of the week. Gold Hill is a 117 acre mine property that is not only the largest land offering in Scottsdale, but is the most expensive listing in all of Maricopa County. Since it's discovery in 1874, the property has earned a reputation for one of the biggest mines in the area. In Francis Carlson's book, "The History of Cave Creek and Carefree," there's an entire chapter devoted to Gold Hill.
The interview was taped in front of the historic Discovery Tunnel at Gold Hill and then Russ Lyon Sotheby's International Realtor Preston Westmoreland led the cameras into the middle of the mountain, which had been carved out for hundreds of feet, by the early miners. See the broadcast right now:
Next to be featured will be the astonishing Boulder House in North
Scottsdale (photo below)
|Maricopa County Active Listings- 13,652|
|County Listings in Jan, 2012- 18,200|
|Carefree Active Homes Listed- 91|
|Carefree Active listed in Jan 2012
Carefree Distressed homes- 5
Carefree Homes Under Contract- 17
Carefree Homes sold last 30 days- 11
Cave Creek Active Homes Listed- 196
|Cave Creek Homes Under Contract- 124|
|Cave Creek Bank-owned Homes- 45
Cave Creek homes sold last 30 days- 61
|Scottsdale Active Homes- 1730|
|Scottsdale Homes Under Contract- 1012
Scottsdale Distressed Homes- 155
Scottsdale Homes sold last 30 days- 453
|Paradise Valley Active Listings- 287|
|PV Homes Under Contract- 91|
|Paradise Valley Distressed Homes- 13|
|PV Homes sold last 30 days- 28
Top Home Sale in the Valley
last 6 months-9422 E Happy Valley RD Scottsdale, AZ 85255 $5.3 million (auctioned, formerly priced @ $35 million)
Carefree's new million-dollar cactus garden at the Town Center continues to WOW visitors, when the first blooms of the spring. If you haven't seen it, stop by and see some of the rarest cactus in the world, including a stunning Crested Saguaro. The Town Center is the focal point for weekly Farmer's Markets, free concerts, the Kiwanis Pancake Breakfast, car shows,
the Annual Christmas Lights Parade and much more!
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Nationwide, prices fell 0.8% in February, the sixth-consecutive month of price declines, according to the Standard & Poor's/Case Shiller index released Tuesday. When adjusted for seasonal factors, prices rose 0.2%.
The latest Federal Housing Finance Agency index shows home prices rising 0.4% for the 12 months ended in February, the first 12-month increase since July 2007.
"Home prices are slowly bottoming out," says Steven Ricchiuto, chief economist of Mizuho Securities.
The Case-Shiller index shows February's prices were 35% below their 2006 peak.
March numbers appear to be stronger, says Stan Humphries, chief economist of Zillow. A report it's releasing today shows home prices rising 0.5% from February to March, the largest monthly increase in almost six years.
Nineteen of the 30 markets covered by the Zillow forecast will bottom in 2012, or already have, Zillow forecasts. Nationally, home prices will fall 0.4% in the next 12 months and may bottom in late 2012, Zillow adds.
Markets will hit bottom at different times, economists say.
•The FHFA index, which includes fewer distressed homes than the Case-Shiller data does, shows prices are holding up better in markets with fewer distressed homes, says Patrick Newport, IHS Global Insight economist.
•Prices are picking up in some markets especially hard hit by the foreclosure crisis.
They have risen for five months in Phoenix, including a 1.2% gain in February, Case-Shiller data show. Miami posted a 0.6% monthly increase.
Zillow forecasts Phoenix will see a 6.5% gain in the next 12 months, the nation's best home price appreciation rate.
Strong demand from investors and increasing demand from regular buyers — coupled with a low supply — is driving prices in Phoenix, says Michael Orr, real estate expert at Arizona State University.
Miami will follow Phoenix, with a 5.6% gain in the next year, Zillow says.
Phoenix and Miami both suffered huge price declines but are attractive to second-home buyers and investors, Humphries says.
Atlanta, whose market lacks those strengths and has been hurt by high foreclosures, posted a 17% drop in prices in February from a year ago. That was far worse than the 3.5% decline in Case-Shiller's index of 20 leading citieswww.usatoday.com