Careful…Don’t Get Caught in the Rental Trap!

Careful…Don’t Get Caught in the Rental Trap! | Simplifying The Market

There are many benefits to homeownership. One of the top benefits is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage.

Don’t Become Trapped 

Jonathan Smoke, Chief Economist at realtor.comreported on what he calls a “Rental Affordability Crisis.” He warns that,

“Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”

In the Joint Center for Housing Studies at Harvard University’s 2016 State of the Nation’s Housing Report, they revealed that The number of cost-burdened households rose to 21.3 million. Even more troubling, the number with severe burdens (paying more than 50% of income for housing) jumped to a record 11.4 million. These households struggle to save for a rainy day and pay other bills, such as food and healthcare.

It’s Cheaper to Buy Than Rent 

In Smoke’s article, he went on to say,

“Housing is central to the health and well-being of our country and our local communities. In addition, this (rental affordability) crisis threatens the future value of owned housing, as the burdensome level of rents will trap more aspiring owners into a vicious financial cycle in which they cannot save and build a solid credit record to eventually buy a home.”

“While more than 85% of markets have burdensome rents today, it’s perplexing that in more than 75% of the counties across the country, it is actually cheaper to buy than rent a home. So why aren’t those unhappy renters choosing to buy?”

Know Your Options

Perhaps you have already saved enough to buy your first home. HousingWire reported that analysts at Nomura believe:

“It’s not that Millennials and other potential homebuyers aren’t qualified in terms of their credit scores or in how much they have saved for their down payment. 

It’s that they think they’re not qualified or they think that they don’t have a big enough down payment.” (emphasis added)

Many first-time homebuyers who believe that they need a large down payment may be holding themselves back from their dream home. As we have reported before, in many areas of the country, a first-time home buyer can save for a 3% down payment in less than two years. You may have already saved enough!

Bottom Line

Don’t get caught in the trap so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Let’s get together to determine if you can qualify for a mortgage now!  Give me a call – J.P. Cook – 602-320-4253.

What’s Your Home Worth?

Search for Your New Home

6240 N 59th Place Paradise Valley, AZ 85253

$20,000,000
8 Beds
10 Baths
16,035 SqFt
Status Active
MLS # 6632253
Property Type Single Family Residence
Price Type --
Just featured as a Wall Street Journal Exclusive + named 2022 Garden of the Year in PHX Home + Garden! Designed by Matt Boland, renovated + enlarged from 2015 to 2023, the dramatic + bold interior features a highly curated collection of art, furniture + fixtures from around the world. There are 8 ensuite bedrms including an amazing master suite w/ separate bathrms + an enormous boutique womans closet costing over $1Million, a kitchen w/ handmade cabinetry & dual islands, family rm w/wetbar, gamerm, paneled library, winerm, exercise rm, theater+ guest house.The home is single level except a 5 star guest suite.The Award Winning grounds have specimen cacti + plants, a lemon arbor, veggie garden w/ stone sink, lush lawn, dining ramada, multiple patios, inviting pool+spa,sport court +playhouse This property is in one of the most prestigious areas of Paradise Valley, among other large estate properties. It is also a few minutes from the new Ritz Carlton being built. Furniture, furnishings and art work may be available for purchase.

8100 N 68th Street Paradise Valley, AZ 85253

$20,000,000
5 Beds
11 Baths
16,809 SqFt
Status Active
MLS # 6556452
Property Type Single Family Residence
Price Type --
Be transported to another world! Let everyday cares remain outside the entry gates as you give in to the splendor and tranquility of the ultra private garden courtyards and soothing sound of the fountains. Arched loggias/arcades surround both courtyards, providing alfresco dining, cooking, & outdoor living enjoyment. The entire concept is a living work of art. Unparalleled craftsmanship, from hand carved millwork and coffered ceilings to bookend matched marble floors, never fail to amaze. A chef's kitchen as beautiful as it is functional, is the top of a long list of everyday luxuries. Inspired by the Getty Villa outside of Rome, the enduring architecture, & quality of construction (8'' thick masonry walls) offer endless appeal, as is always true with a finely designed work of art. Whether looking for a private compound, corporate hideaway resort, and or Family Office, Villa Osso Negro (Home of the Black Bear) is sure to impress. La Posta Vecchia-inspired estate with two courtyards Exquisite, imported materials and artisan details Hand-tiled saltwater swimming pool Gated property in Paradise Valley LOCATION: CAMELBACK COUNTRY CLUB ESTATES Paradise Valley is Arizona's most exclusive enclave, surrounded by country clubs and luxury resorts. Panoramic desert vistas, bookended by two mountain ranges, set the stage for technicolor sunsets. Camelback Country Club Estates offers sprawling 1+-acre properties with very little commercial development for a tranquil desert lifestyle. Shopping, dining, and entertainment abound in Scottsdale and the larger Phoenix metroplex. Scottsdale Fashion Square is less than ten minutes away. Your sprawling villa is steps from the Camelback Golf Club for 36 holes of scenic and challenging championship play. The world-renowned Paradise Valley Country Club is only ten minutes away, offering another 18-hole course and many luxurious amenities. Take in unparalleled desert views and landscapes at Mummy Mountain, the Cholla Trailhead, the nNew RITZ and fine shops all under ten minutes from your front door. FEATURES LIST: Total: 16,809sf 2.12-ac 5 Bedrooms 11 Bathrooms 13 Fireplaces 8+ Car Garage Architect Domenic Berta Inspired by the Getty Villa in Rome; Notable designer Juan Sandoval; Venetian plaster walls; Book-matched marble finishes; 14' coffered and beamed ceilings; Stone and marble floors; Multiple fireplaces; Custom millwork throughout Chef's Kitchen Commercial grade capabilities; Custom cabinetry; Two islands; Granite countertops; Designer appliances including dual Wolf & Viking ovens; 5 dishwashers; Eat-in breakfast area; Temperature controlled wine cellar with Elevator Primary Sanctuary French doors; Access to pool courtyard; Fireplace and sitting area; Spa bath with showpiece marble jetted tub, separate water closet, dual vanities; Custom closets and dressing rooms Outdoor Features 2 courtyards totaling 20,000sf; 60'x60' hand tiled mosaic saltwater pool; 10,000sf loggia; 300 rose bushes; Outdoor fireplace; 6 Fountains; Summer kitchen with built-in grill; Covered outdoor dining Other Spaces Formal dining room with fireplace; Wet bar; 2,700sf basement; 700sf wine cellar and tasting room; Exercise Rm w/ mini bar; Game room; Library w/ floor to ceiling bookcases & floating staircase Additional Amenities Fireproof masonry walls 8 thick; Securely gated perimeter; One-level living (no interior steps); Reverse osmosis water filter system and water softener; Roller shields; Room for 5 car lifts, or 13 car garages; plus RV parking Location 10 minutes from Old Town Scottsdale; 16 miles from Downtown Phoenix; 15 minutes to Scottsdale Airport; 20 minutes from Phoenix Sky Harbor International Airport

4301 E Upper Ridge Way Paradise Valley, AZ 85253

$19,950,000
4 Beds
7 Baths
7,989 SqFt
Status Active
MLS # 6608739
Property Type Single Family Residence
Price Type --
Perched between two mountain peaks, the Upper Ridge Residence is an exquisite 8,000 +/- sf custom home, designed and built by The Construction Zone. The home is a modern steel and glass pavilion that reaches the highest level of fit and finish in the industry. The home's double height entry is flooded with natural light from the overhead skylights which highlight the finished materials and house the handcrafted steel and glass staircase leading up to the main level. The primary spaces occupy the upper level which is clad almost entirely in glass and offers panoramic views of the Valley of the Sun. The lower level of the exterior is clad in rusticated limestone, giving a sense of solidity and grounding the house into the rocky site. The interior palette presents a serene contrast to the raw desert. A smooth, oversized neolith floor echo's the creamy tones of the stone walls and crisp interior steel detailing outlines the white walls. An overhead planked oak ceilings adds warmth to the space and ties into the custom millwork throughout the home. Sliding glass walls open to maximize the indoor/outdoor livability of the space. Whether entertaining by the fire under the steel and wood shade structure or floating in the rooftop pool, spectacular views of the city and distant mountains beyond can be appreciated year round. The primary bedroom has two separate walk-in closets with lighted cabinets and bronze mirrors. The two primary bathrooms include custom floating vanities by Ak Studio. One bathroom features a sculptural soaker tub by Boffi and the other features and unbelievable indoor/outdoor shower with starlight and city views. The detached private home office is accessed through custom sliding glass doors which lead you into the ebony wood clad space. It has 360-degree views, a lounge with custom fireplace and an amazing steel-clad bar. The home is Crestron fully automated with lighting, shade, climate, audio and video controls. To make the home accessible to all, the home is equipped with a a fully finished elevator located in close proximity to the staircase. The home theater room features a 135-inch projection screen with Dolby Atmos surround sound and 4k video. When not in use the blackout shades open to a stunning downtown city view. In addition to the home theater and fully outfitted gym on the lower level there is also a separate laundry room as well as two en suite guest rooms each with views spanning across the Valley. The four-car garage will showcase the finest of automobiles in a highly finished, conditioned space. At one end you'll find a specialty room accessed thru a custom sliding glass door. This steel-clad room could serve as a hobby space, art studio or an additional unique living space. Upper Ridge Way sits on a total of 3.45 acres which offers an extreme level of privacy. Finished in 2022, this exquisite home is incredibly unique and is sure to appeal to those with the most discerning of tastes. Completely furnished by John Brooks with Liaigre and Holly Hunt furnishings.

6025 E Cholla Lane Paradise Valley, AZ 85253

$19,550,000
5 Beds
7 Baths
9,775 SqFt
Status Active
MLS # 6659305
Property Type Single Family Residence
Price Type --
Award-Winning Developer ARCO Custom Homes brings yet another Modern/Transitional Architectural Masterpiece to Camelback Mountain. This privately gated estate features soaring 24-foot ceilings, retractable floor to ceiling custom glass walls and massive view decks with breathtaking Mountain and City Light Views galore! The expansive great room opens to the chef's kitchen featuring Gaggenau, Miele, Sub-Zero and Wolf appliances, 60-inch European custom cabinetry and a gourmet Catering Kitchen with an extensive pantry. Offering abundant entertaining spaces including 1,000+ bottle glass climate-controlled Wine Room, Media Room, generous 2-person office and luxurious primary suite wing. The hidden underground garage built in to Camelback Mountain is a Car Lover's Fantasy.

10719 E Rimrock Drive Scottsdale, AZ 85255

$19,250,000
6 Beds
8 Baths
13,114 SqFt
Status Active
MLS # 6455254
Property Type Single Family Residence
Price Type --
Experience the beauty of unobstructed front-row views of golf course, the enchanting city lights, and the captivating mountain ranges right from your Silverleaf residence, inside the Horseshoe Canyon Guard Gate. Strategically positioned to allow easy access to the motor court, detached guest house, and yard space without any elevation changes. Meticulously crafted and maintained by the renowned luxury home builder, Desert Star Construction, this home stands as a true masterpiece of craftsmanship. Situated on over 9 acres of land, the property offers an impressive 13,111 square feet of living space, which includes a 1,789 square foot, 2-bedroom guest house. Furnishings and Golf Membership can be available with the sale; please watch home's Motion Video then preview. LEED certified; with geothermal heating and cooling energy efficiency. Amenities include a baker's prep kitchen, butler's pantry, wine room, 13 limestone fireplaces, plaster walls, custom cabinetry and solid hand-hewn walnut doors. Alfresco amenities include an incredible pool and spa, low maintenance lawn, along with a wealth of lounge and dining spaces. Horseshoe Canyon at Silverleaf is known for its prestige, lower density and highest level of security. This masterpiece exudes pure timeless elegance, privacy, and craftsmanship.

11098 E Whistling Wind Way Scottsdale, AZ 85255

$18,988,000
6 Beds
8 Baths
9,517 SqFt
Status Active
MLS # 6621229
Property Type Single Family Residence
Price Type --
Incredible Opportunity to purchase a Brand-New Luxury Modern Estate in the highly desirable Silverleaf Summit with spectacular elevated city light views, surrounding mountain ranges, and golf course views below. Home under construction w/ an est completion date January 2025 saving you years of approval time for new builds. The pristine and tranquil setting of this 1.97-acre property provides the perfect location for this 9,517 livable sq ft home with no steps on the main floor & entire backyard areas. Secured behind private automated drive gates this home has 6 bedrooms, 8 baths, a huge Game/Entertainment room, Office, 2nd kitchen, Elevator, & upstairs family room. Artfully crafted by Sommer Custom Homes one of the most accomplished builders in Silverleaf. Architecture by Cosan Studio The Main-level of the home offers four full bedroom suites with beautiful bathrooms & large walk-in closets as well as the many common area rooms and encompasses most of the home's livable sq. ft. at 7,764. Two of the secondary bedrooms are set up as guest suites with oversized rooms large enough for a sitting area, private patios that open to the backyard amenities and city light views and their bathrooms have two sinks, lots of counter space, and toilet rooms. The third secondary bedroom suite is spacious and contains a full bath and walk-in closet. This suite has a private patio off the front corner of the home with mountain views and could be a great space for an Exercise room or can be used as another bedroom suite. The fourth Main level suite (Owner's Suite) is very private and far removed from all other guest rooms and public spaces. City light and mountain views are enjoyed from within the room and from the covered patio with direct access to rear yard amenities. The bathroom has city views, an outdoor shower also overlooking the city below, and his and her toilets. The closets are spacious and there is a hidden closet behind for a saferoom concept or other hidden storage needs. The Upper-level livable sq. ft. is 1,753 and accessed by the elevator or the staircase and has two more full bedroom suites that are very spacious with walk-out balconies that capture great views of the mountain range to the North and have full bathrooms with toilet rooms and walk-in closets. There is also a secondary family room and a sitting area with lots of natural light and great views of the mountains to the south. The large kitchen has city light views over the backyard turf and pool areas and opens to the covered rear patios and the adjacent Great room. The large 12' x 5' island contains a prep sink, appliances, trash pullouts, and plenty of workspace with seating off the back side. The main sink is on a window wall and faces out to the gorgeous city views and backyard amenities. Behind the kitchen is a large fully functional Prep Kitchen which also serves as the pantry. This space is ideal for entertaining to keep the mess well hidden from the public areas and has direct access to the outdoor kitchen/barbecue space and another access straight to the garage entry hall for easy loading of groceries and supplies. The Great room is anchored by a large stone-clad fireplace and surrounded by floor to ceiling windows and automated sliding doors. The city light views from this room are stellar and showcase the incredible architecture and fine finishes of the home. This space opens to the rear covered patios and is semi open to the large Entertainment room and Bar/Lounge area. The expansive Entertainment room leaves nothing to be desired in a space which allows you to enjoy anything that life offers you from small family gatherings to large festive parties or just chilling out on your own. This space has plenty of room for multiple game tables, spacious lounge seating arrangements, one entire corner dedicated to media/theater experience, and a gorgeous indoor/outdoor bar with windows that open and connect the interior experience with the bar patio's outdoor activities. The room also has pocket doors opening to the main patio allowing the two environments to become one enormous space. The Formal Dining room overlooks the beautiful front courtyard fountain & fireplace and has a climate-controlled wine storage enclosure made of glass for a beautiful display from all sides. Other amazing features of this home include: Automated driveway gates near the street protect the long driveway up to the home which is set back far off the street for maximum privacy and security. Private garage courtyard area not visible from guest arrival front entry areas. Light filled staircase tower with floor to ceiling windows showcasing the artistry of the floating staircase and the glass elevator. Wood ceilings on the covered patios and most of the indoor public spaces. Guest sitting area off the two Main level Guest Suites. Two laundry rooms. Oversized 4-car garage with wall mount operators and storage room. Larger than average one-acre+ building envelope allows for a large backyard and spacious outdoor amenities. The front courtyard is gated to the guest arrival area and has a beautiful seating area with a fireplace, fountain, gardens, and views of the surrounding mountains. Spacious and deep rear patios with ceiling heaters, a two-way stone clad fireplace, outdoor kitchen & barbecue with dining table area and plenty of lounge seating all looking over the large green turf and pool areas out to the city views below and surrounding mountain ranges. Silverleaf, located in North Scottsdale, Arizona, is a prestigious guard gated community known for its luxurious estates, exclusive golf courses, private Club and stunning desert landscapes. The Tom Weiskopf-designed Silverleaf Golf Course is a highlight for golf enthusiasts. With a blend of Spanish and Mediterranean-inspired architecture, the community offers a high standard of living, including upscale amenities like spas, fine dining, and exclusive shopping. Residents enjoy a harmonious balance between modern luxury and the natural beauty of the desert environment, making Silverleaf a sought-after destination for those seeking an exceptional lifestyle in North Scottsdale.

6109 E Maverick Road Paradise Valley, AZ 85253

$18,495,000
6 Beds
8 Baths
11,965 SqFt
Status Active
MLS # 6648639
Property Type Single Family Residence
Price Type --
Nova is the first of 9 showcase homes in the exclusive neighborhood of Silver Sky set to begin construction Spring 2024. This 11,965 sq/ft, 5-car garage estate emerges from the gifted hands of architect Stratton Andrews. A Nova describes a celestial phenomenon where a star bursts into brilliance, illuminating the night sky with newfound radiance. This award-winning home was named as a testament to Stratton Andrew's meteoric rise in the world of architecture. Having already won Best in American Living 2023, this estate blends classic European charm with modern design and luxury. The privately gated entrance opens to an expansive courtyard providing a full view of this captivating estate. Boasting floor-to-ceiling Euroline steel windows with thin sightlines and a natural stone façade placed this home exudes a classic European charm. The outdoor oasis wraps into the backyard showcasing a resort-like pool and spa, outdoor kitchen, and lush landscaping designed by Jeff Berghoff, this stunning estate even includes a standard-size pickleball court. The interiors maintain a timeless approach using soft, natural stone and wood tones while tying in cutting-edge technology and modern features. The 10,980 sq/ft main home and 985 sq/ft separate guest house have been completely designed by Holly Wright Designs. To be constructed with all steel framing and appointed with only the highest of finishes the builder is sparing no expense. Features include Wolf Sub-Zero appliances, waterwork fixtures, wide-width European white-oak wood flooring, along with detailed millwork and stone throughout the home. Every detail has been planned with the lighting specifications and elements designed by award-winning designer Walter Spitz. Nestled among 11 other brand new, award-winning estates, including 3 custom builds and 8 Showcase homes, Nova is part of the exclusive Silver Sky community. A community consisting of privately gated, single level homes with a minimum of 6500 sq/ft. ensuring endless views, privacy, and the unparalleled size and sophistication of a luxury new community. Experience what you have earned and join an exclusive group of discerning buyers that cherish the finer things in life.

20567 N 112th Street Scottsdale, AZ 85255

$18,250,000
6 Beds
8.5 Baths
13,272 SqFt
Status Active
MLS # 6612852
Property Type Single Family Residence
Price Type --
Transfer of a SILVERLEAF GOLF MEMBERSHIP available. Nestled within the prestigious Silverleaf community's Upper Canyon, this magnificent Mediterranean Estate is a testament to extraordinary craftsmanship and design. Spanning an impressive 13,272 square feet, this residence offers unrivaled vistas of the cityscape, mesmerizing sunsets, and the majestic mountains of Scottsdale, Arizona. Crafted through a seamless collaboration between the visionary Mark Candelaria of Candelaria Design, the master builder John Schultz of Schultz Development, and the renowned interior designer Isabel Dellinger Candelaria of Earth and Images, this home radiates elegance at every turn. The result is a sophisticated sanctuary, decorated with the finest luxury finishes and meticulous attention to detail. The thoughtfully designed great room floor plan provides a harmonious flow, separating the principal suite from the guest wing of the home with a private entrance hosts five generously appointed en-suite guest rooms, each boasting king-sized accommodations. This layout offers both privacy and comfort for residents and guests alike. Step outside to discover a breathtaking outdoor oasis, featuring a captivating negative edge pool, a generous spa for ultimate relaxation, and multiple inviting seating areas set amidst flawlessly manicured gardens. This al fresco retreat is an idyllic backdrop for intimate gatherings or grand-scale entertaining. Embodying the pinnacle of architectural excellence in the esteemed Silverleaf community, this Mediterranean Estate offers an unparalleled lifestyle of luxuriousness, elevated by its breathtaking natural surroundings. This is a residence that redefines luxury living in Scottsdale, Arizona. Silverleaf, located in North Scottsdale, Arizona, is a prestigious guard gated community known for its luxurious estates, exclusive golf courses, private Club and stunning desert landscapes. The Tom Weiskopf-designed Silverleaf Golf Course is a highlight for golf enthusiasts. With a blend of Spanish and Mediterranean-inspired architecture, the community offers a high standard of living, including upscale amenities like spas, fine dining, and exclusive shopping. Residents enjoy a harmonious balance between modern luxury and the natural beauty of the desert environment, making Silverleaf a sought-after destination for those seeking an exceptional lifestyle in North Scottsdale.

7256 N 40th Street Paradise Valley, AZ 85253

$17,800,000
5 Beds
6 Baths
10,170 SqFt
Status Active
MLS # 6642559
Property Type Single Family Residence
Price Type --
Crown Canyon presents Amber, a Swaback Architects masterpiece to be built by BedBrock Developers. Nestled into the canyon while spanning a desert wash, this home embraces adjacent boulder formations of the canyon with significant views of Camelback Mountain from the heart of the home. Saguaro soldiers welcome you to this one-of-a-kind home that draws its inspiration from the surrounding natural mountain preserve. Dramatic rooflines frame this modern glass and steel estate with 3 masterful floating glass bridges connecting the master suite. Oversized windows and pocket doors throughout the estate showcase the pristine desert surroundings while maximizing the indoor-outdoor living experience. We welcome you to experience the timeless luxury and privacy that the Amber estate has to offer.

5815 N Palo Cristi Road Paradise Valley, AZ 85253

$17,160,000
6 Beds
6.5 Baths
8,800 SqFt
Status Active
MLS # 6525448
Property Type Single Family Residence
Price Type --
NOW UNDER CONSTRUCTION Staring at Camelback this sensational lot is the site of a 6 bedroom 12546 sq ft new home built, incredible interior design by Ownby Design. Landscape and water features by Desert Foothills. This is a WOW. Transitional luxury accommodations included during build. May also be sold with adjoining parcel(s) at 5835 N Palo Cristi and 3627 E Bethany Home.

6123 E Ironwood Drive Paradise Valley, AZ 85253

$16,495,000
4 Beds
6 Baths
9,444 SqFt
Status Active
MLS # 6648642
Property Type Single Family Residence
Price Type --
Coming to life at the base of Mummy Mountain, Silver Sky presents ''Aquarius,'' a remarkable steel-framed 9,444 sqft estate designed by Drewett Works, set to begin construction in Spring 2024. Inspired by the tranquility of resort-style coastal towns, Aquarius is named for its captivating water features. Expansive floor-to-ceiling European glass doors that pocket into the walls, completely open the living spaces to a central zero-edge pool and spa that move under roof creating an oasis within this estate. This privately gated 1.32-acre estate boasts oak wood flooring throughout and a continuous entertaining space across the kitchen, dining, and living that connects directly to the intimate courtyard entrance. The entertainers kitchen is equipped with Wolf and Subzero appliances with a large back chef's kitchen featuring dornbracht fixtures and Wolf appliances. The great room showcases a stunning floor to ceiling, temperature-controlled wine wall holding over 300 bottles of wine, crafted with natural cobblestone and millwork. Adding to the great room opulence are 17' Panoramah structural glass automated sliders that with a touch of a button, this technological marvel opens to reveal a covered patio, seamlessly merging the indoor and outdoor spaces. The residence also includes a spacious office, a gym, a steam shower and sauna, four-car garage, and a guest suite with private entrance. Two additional large bedrooms come with ensuite baths, ensuring privacy and comfort. Designed to truly maximize an indoor-outdoor living experience, Aquarius is highlighted by a breathtaking rooftop open living space with a bathroom and bar offering panoramic views of Paradise Valley. Off the downstairs lounge sits an indoor/outdoor bar and secluded backyard with a fire pit to further enhance the outdoor ambiance. Crafted with meticulous detail with interiors by Ownby Design, lighting by Creative Designs in Lighting, landscaped by Berghoff Design Group, and built by Arcadia Custom Builders, Aquarius is more than a home - it's a masterpiece of craftsmanship waiting to be unveiled. The developers left no details behind including solar ready engineering, Lutron lighting system, and automated window coverings throughout, along with so much more. Nestled among 11 other brand new, award-winning estates, including 3 custom builds and 8 Showcase homes, Aquarius is part of the exclusive Silver Sky community. A community consisting of privately gated, single level homes ensuring endless views, privacy, and the unparalleled size and sophistication of a luxury new community. Create your sanctuary and join an exclusive group of discerning buyers that cherish the finer things in life.

7140 N 40th Street Paradise Valley, AZ 85253

$16,200,000
4 Beds
6 Baths
8,132 SqFt
Status Active
MLS # 6672341
Property Type Single Family Residence
Price Type --
MOVE-IN READY JAN'25! Discover unparalleled privacy and serenity with the Jade residence in Crown Canyon, Arizona's most exclusive gated community. This award-winning BedBrock ultra luxury home with architect CP Drewett and interior designer Mara Green is a true masterpiece. Its distinctive Frank Lloyd Wright inspired triangular form features primary living on the main level with soaring 19-foot ceilings that ascend to an impressive 24 feet encapsulated in glass. A grand staircase, or elevator for ease, takes you to the lower level with two secondary en-suite bedrooms, an oversized game/family room complete with a bar, and a separate fitness room. A detached casita perched above the four-car garage rests seamlessly on the hillside, offering a private retreat for guests. Sprawling outdoor decks, fireplaces and an outdoor kitchen surround the infinity pool and spa capturing 250 degree views of the raw desert landscape. This one-of-a-kind home is customized with premium materials and appliances, showcasing a steel construction and meticulous attention to detail throughout.

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