2015 in Review

Real Estate Corner
Tucker Blalock
Your Arcadia and Biltmore real estate specialist
2015 has been a great year for me professionally as well as personally.  I will be finishing the year north of $21,000,000 in sales volume which by ARMLS stats puts me in the #1 position for any real estate agent under 30 years old in Arizona.  I’m continuously humbled by all of the support that I have received throughout the Arcadia community during the year including my neighbor MaryAnn who told me that my biceps looked good in my last ad 😉  This year also brought my son, Cash, his first birthday along with many fun memories that my wife and I will not forget.  Without their support of my incredibly lopsided work/life balance I would not be where I am today.
My team, The Suits, has now grown to 6 members and we are looking to expand our reach.  While we have been known as the #1 team in the Biltmore for the past two years, my goal is to earn more business from my neighbors here in Arcadia.  Born and raised in the ‘hood, I have a passion for Arcadia that runs deep.  I encourage all of you to introduce yourself to me while out in the community.  Whether it’s at the Village, Safeway, or jogging down the canal…please say “Hey!”
I’m bullish on the housing market going into 2016 as mortgage rates remain around 4%.  This is especially true in the Arcadia and Biltmore areas as residents of Scottsdale continue to return to “Central.”  The rush back to the Camelback Corridor has been a product of our incredible entertainment and restaurant choices…thank Sam Fox (Fox Concepts)Bob Lynn (LGO Hospitality), and a slew of other small business owners for increasing your home values 🙂
While I see the market staying strong, I would encourage Arcadia Proper residents with a “tweener” to think about selling now before your home becomes a teardown.  A tweener is a home that is a little too nice to teardown, but not up to today’s standards for most buyers.  Today’s buyer in the Arcadia market is looking for a newer product with higher ceilings, open floor plan, and modern color schemes.  They probably aren’t looking for a home that needs $100-200k worth of remodel.  The cute, older ranch homes with 8.5′ ceilings just aren’t as desired anymore.  Selling to a developer for teardown value in the next couple of years will leave you with less money in your pocket.  Unfortunately, that is what our market has come to as more homes are demolished to make room for newer products.
There is also a lot of opportunity for residents who are looking to downsize in the next year.  I would encourage my clients to take advantage of Arcadia prices and move over to the Biltmore at a sizable discount.  While most houses in Arcadia are trading at an average of around $350/sq.ft., you can buy a very nice lock n’ leave in the Biltmore for $270/sq.ft.
Please do not hesitate to call me at 602-ARCADIA anytime to chat about the market or the neighborhood.  I look forward to doing business in the near future and hope your family has a great holiday season!
Tucker Blalock
Biltmore Lifestyles Real Estate