Last week’s economic news included readings on job openings, consumer sentiment and the Federal Reserve’s monthly survey of senior loan officers. Weekly reports on mortgage rates and new jobless claims were also released. Freddie Mac noted that last week’s primary mortgage market survey did not include post-election readings as the survey information was gathered prior to election results.
Loan Officers Survey: High Demand for Home Loans, Commercial Lenders Raise Standards
As demand for mortgage financing and homes increase, the Federal Reserve reported last week that banks are tightening the screws on commercial lending requirements. This could present challenges to home builders; they’ve been consistently pressured to build more homes at a faster pace. Less availability of commercial financing may impact home builders and their suppliers. The survey indicated that demand for home and consumer loans also increased.
Mortgage Rates Rise, New Jobless Claims Fall
Mortgage rates rose across the board on average. Freddie Mac reported the rate for a 30-year fixed rate mortgage rose three basis points to 3.57 percent. The average rate for a 15-year fixed rate mortgage increased four basis points to 2.88 percent, which equaled the average rate for a 5/1 adjustable rate mortgage. Average discount points were unchanged at 0.50 percent for fixed rate mortgages and 0.40 percent for 5/1 adjustable rate mortgages.
New jobless claims fell to 254,000, which was lower than the expected reading of 260,000 new claims. Last week’s reading was also lower than 265,000 new claims filed the prior week. Job openings held steady at 5.50 million in September.
According to the University of Michigan’s monthly consumer sentiment index, November’s reading rose 91.60 in November as compared to an expected index reading of 88.00 and October’s reading of 87.20. This reading falls in line with strengthening labor markets. Improving economic conditions can influence consumers who want to buy homes.
What‘s Ahead
Next week’s economic reports include releases from the National Association of Home Builders, Commerce Department readings on housing starts and building permits issued and weekly releases on new jobless claims and mortgage rates.
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10285 E Chama Road
Scottsdale, AZ 85255
$7,200,000
4
Beds
4.5
Baths
5,932
SqFt
Status
Active
MLS #
6764129
Property Type
Single Family Residence
Price Type
--
THE best lot in Skye View! Exceptional 5,932 square foot modern dream home featuring beautifully landscaped desert gardens and a luxe resort-style backyard. Breathtaking mountain and city light views in every direction! Built in 2024, this prestigious N. Scottsdale modern contemporary home is just minutes away from McDowell Mountain Regional Park and Tonto National Forest, access to the 101 Fwy, Scottsdale Quarter, Kierland, and Promenade restaurants and shopping, and close to some of the top AZ golf courses including The Estancia Club, Troon North, Mirabel, and more. With its distinctive architecture and award-winning contemporary design, the home was designed and built by Camelot Homes, boasting an unrivaled attention to detail. The open floor plan is perfect for entertaining, inviting the outdoors in. All the living spaces have direct access to the outdoor spaces which include a front entry portico, fully shaded outdoor living/ loggia with fire feature, dining on back patio, bonus room plus indoor bar with stacked telescoping doors, outdoor grill, and a dedicated loggia for the guest casita. The backyard is highlighted by breathtaking sunset views, custom heated pool with two Baja decks, water features, built-in planters, poolside seating area, separate spa, and lush artificial turf. The home includes a dramatic front entry, well-appointed gourmet kitchen overlooking main living areas, 4 bedrooms, 4.5 bathrooms, office/ den, guest casita, and 4 car garage specialty space that can be used as a home gym or flex space. Additionally, the home boasts Rift Oak cabinetry throughout, honed Quartz countertops, large format Porcelain tile flooring, custom metal iron clad fireplace, Wolf Sub-Zero appliances, temperature-controlled wine cellar, Zip Tap (instant chilled, instant hot, and sparkling water), Butler's Pantry, designer lighting and plumbing fixtures, elevated ceiling heights, glass detailing, Savant Audio Visual system, motorized designer window coverings in all rooms, security cameras, double stack laundry and LG styler garment refresher drycleaner, Sonance landscape speakers, and specialty details throughout. The primary bedroom suite features a luxurious primary bath, custom cabinetry, designer lighting/ plumbing fixtures, porcelain tile flooring, dual vanities, expansive walk-in shower and soaking tub with telescoping door that opens to the backyard with mountain and city light views, and spacious his /her walk-in closet. Soak in world-class views of Pinnacle Peak, Troon Mountain, and Desert Highlands from this custom-built home. This is one of the finest properties available on the luxury market!
28805 N 114th Street
Scottsdale, AZ 85262
$7,150,000
5
Beds
5.5
Baths
6,389
SqFt
Status
Active
MLS #
6753068
Property Type
Single Family Residence
Price Type
--
ESTIMATED COMPLETION NOVEMBER OF 2024. Stunning North Scottsdale Estate located in Goldie Brown Ranch. One of three exclusive custom offerings each with their own private gated drive. This sophisticated and contemporary styled single level home is designed in collaboration with Swaback Architects and builder Sonora West Development. The floor plan features an open great room concept with 5 bedrooms + office, 5.5 bathrooms a large 4 car garage and guest casita. Situated on over 4 acres with unobstructed 360 degree views of Tom's Thumb, the McDowell Mountain Preserve, Pinnacle Peak and Four Peaks. Enjoy stunning sunsets and city lights from this wide open site.
5502 E Mariposa Street
Phoenix, AZ 85018
$7,075,000
5
Beds
4.5
Baths
5,858
SqFt
Status
Active
MLS #
6723868
Property Type
Single Family Residence
Price Type
--
Discover this stunning 5,858 sq ft, 5 bed, 4.5 bath home, nestled in a tranquil cul-de-sac in the heart of Arcadia Proper. Enjoy breathtaking Camelback Mountain views from this luxurious residence, featuring three versatile flex spaces perfect for a home office, gym, or media room. The lush, mature landscaping surrounds a private sport court, offering endless outdoor fun. With a spacious 3-car garage, this home provides ample storage and convenience. Perfect for entertaining and everyday living, this exquisite property combines elegance and comfort in one of the most sought-after locations. Don't miss this rare opportunity to own a piece of Arcadia's charm!
Tbd Forest Service 5783 Road
Patagonia, AZ 85624
$7,000,000
2
Beds
3
Baths
1,500
SqFt
Status
Active
MLS #
6668654
Property Type
Single Family Residence
Price Type
--
This is arguably the most beautiful ranch in Arizona in one of the most scenic, coveted ranching locations in the American West. Covering 6,066 +/- acres in the heart of the spectacular San Rafael Valley in southeast Arizona. The Lazy J2 Ranch is a working cattle ranch with a carrying capacity of 200 head year round. The ranch consist of 954 +/- deeded acres with six large pastures, several smaller pastures & a charming ranch home. It also includes the 5,112 +/- acre A-Bar Draw USFS allotment with five large pastures. The deeded & leased land are very well watered with multiple wells, tanks, water lines & fences are in very good condition. Entering this very private, heavenly valley is a truly a breath taking event every time. The flowing grasslands surrounded by the blue & lavender mountains create a site that is easy to fall in love with. It lies between the Patagonia Mountains west, Huachuca Mountains east and the Canelo Hills north. The San Rafael is an uncommon, sequestered hidden valley unknown to many native Arizonans, yet is the location for over 50 feature films including OKLAHOMA. It is an extraordinarily unique piece of the West, steeped in history as the western entry point for the Europeans into what is now the United States in 1539, to the Native American Apache Tribe and Buffalo Soldiers in the 1800s. The San Rafael Valley has been a successful ranching landscape for generations of many families for hundreds of years. Perfectly situated between 4,800 and 6,000 feet elevation, the climate is mild and pleasant year round. Temperatures range from the 80s to 90s in the summers and 50s to 60s in the winter. Annual rainfall is typically 17 to 20 inches. It is the one of the last intact short grass prairies left in the western United States. The headwaters of the Santa Cruz River originate in this valley and is adjacent to the ranch. The San Rafael and this ranch are blessed with a collection of gorgeous, sweeping rolling hills with a myriad of native grasses, scattered Oak trees and towering Cottonwoods in the meandering creek beds that run seasonally. Eighty percent of the San Rafael Valley, including the Lazy J2 Ranch, have been placed under Conservation Easements by private property owners to protect the unparalleled beauty and pristine environment from future developments. The building envelopes have been discretely placed out-of-site to preserve the sweeping landscape vistas and magnificent view shed. There are two large building sites on the Lazy J2 of 17.8 acres and 20 acres. Underground power and telephone run through the valley and are available to both sites. The Conservation Easements are held by the Arizona Land and Water Trust. This is an amazingly rare opportunity and maybe a once in a lifetime chance to own a part of this very special valley. Normally the ranches here are passed along by families from one generation to the next. Come and visit and see for yourself the remarkable property that is the Lazy J2 Ranch. The ranch is also available in two smaller offerings of 430 and 524 acre parcels with seller financing. The seller's successful San Rafael Valley Grass-Fed Beef business may also be available separately-call for details. See LazyJ2Ranchdotcom
10212 E Filaree Lane
Scottsdale, AZ 85262
$7,000,000
4
Beds
4.5
Baths
5,202
SqFt
Status
Active
MLS #
6705942
Property Type
Single Family Residence
Price Type
--
One of Desert Mountain's newer iconic homes is now available! This breathtaking contemporary offers stunning panoramic mountain views in an ideal central location. Full Golf Membership available. Enjoy the world class Sonoran Clubhouse just steps away, offering dining, fitness, a full service spa, pickleball, and more. This gem was conceived by famed Architect, Wendell Pickett, co-designer of the 7 community in Desert Mountain. The main level rests upon a spacious, temperature controlled 10 car garage. This elevation allows for an amazing view package and treasured privacy adjacent to a 15 acre natural arroyo. Every detail was thoughtfully considered in the home's design: Gaggenau appliances in the gourmet kitchen. Bulthaup cabinetry. A medical grade IQ Air system. Lutron home automation
2007 E Ranch Road
Tempe, AZ 85284
$7,000,000
4
Beds
4.5
Baths
6,480
SqFt
Status
Active
MLS #
6771578
Property Type
Single Family Residence
Price Type
--
This custom new construction home in the prestigious Circle G community in Tempe is a stunning 6,480-square-foot masterpiece, nestled on a spacious 33,890-square-foot lot. With its Bali resort-inspired design, this home embodies luxury and tranquility, showcasing a harmonious blend of white oak wood and natural tones that flow throughout. Thoughtful attention to detail is evident in every corner, from the elegant lighting to the custom finishes. The grand entrance features a circular driveway leading to a welcoming patio area with a cozy gas fireplace, perfect for sipping coffee in the morning. As you approach the large iron front door, you'll find a private attached casita to the east. (click More for the full description and remarks). This casita offers built-in custom cabinetry, a sitting area, a full bathroom with intricate stonework, and a charming Dutch door, allowing guests to enjoy the front patio ambiance. Across from the casita, the Parisian-inspired office is a showstopper, featuring black-and-white checkered flooring, built-in cabinetry, and a picturesque view of the gas fireplace on the front porch. Upon entering the main house, you are greeted by soaring 14-foot ceilings and a dramatic double-sided gas fireplace, clad in stone on both sides, which creates a seamless flow between the living areas. The kitchen is a chef's dream, with a 16-foot island, two dishwashers, a custom built-in Sub-Zero refrigerator, a gas cooktop and range, a Meile espresso machine, and a pot filler. The oversized single-basin sink and endless cabinetry provide both function and style. The formal dining area is a true entertainer's delight, featuring cantilever doors that open up to the exterior pool and patio space, creating a seamless indoor-outdoor experience. Located in the dining area is a wine chiller room, designed to hold over 800 bottles, ensuring your collection is stored in perfect conditions. On the east side of the home are the secondary bedrooms, both of which share a bathroom with a large walk-in shower and custom tile finishes. Also on this side is a large office with an iron door that matches the main entryway, overlooking one side of the double-sided fireplace. The office includes a walk-in closet with built-in storage for files and office supplies. The entertainment room is designed for hosting, featuring cantilever doors, built-in cabinetry, a microwave, an ice machine, and a TV video wall that allows you to watch four different screens simultaneously. This room offers one of the best views of the backyard and pool, making it a perfect space for relaxation and entertaining. The primary bedroom is a private oasis, located to the west of the home, complete with a serene sitting area and an outdoor shower for an added touch of resort-style living. The room offers two private exits to the backyard and private side sitting area, with custom electronic shades on the bedroom windows and main door. This space feels like a 5-star retreat, offering a spa-like bathroom with dual vanities, extensive cabinetry, a one-piece marble tub, and a walk-in shower equipped with a state-of-the-art shower head system. Additionally, the suite includes a personal gym, leading to a grand walk-in closet with custom cabinetry and a built-in island for storing jewelry, watches, and accessories. The backyard is designed for entertaining, featuring a full-size pickleball court with built-in surround sound and a designated area for hosting guests and their beverages. The pool ranges from 5 feet to 3.5 feet deep and offers multiple sitting areas, loungers, a waterfall, and even a floating bed. The outdoor open gazebo includes a hidden storage area for tables, chairs, and pool items, perfect for hosting gatherings. Along the exterior edge of the home, nestled within the ficus hedges, you will find water spigots and electrical outlets, making large-scale entertaining a breeze. With multiple locations throughout the property for entertaining, this home offers details that go above and beyond the usual. Commercial-grade water filtration stations are located in three parts of the home for the utmost convenience. The home also features a 1,500-square-foot attic space, and finishes that have been collected from all over the world for the past several years. Construction is slated to be completed by the end of 2024, and the buyer still has the opportunity to select finishes. Custom furniture pieces have already been ordered, and the buyer has the option to purchase them. The butler's pantry and laundry room are equally impressive, featuring another island with a single-basin sink, two washers, two dryers, ample storage, and a full-size Sub-Zero refrigerator for additional cold storage. It's also pre-plumbed for an additional dishwasher, oven, and built-in pet water bowls. This home is the epitome of thoughtful design and luxury living, where no detail has been overlooked. You must see it to believe it.
25&55 Cibola Drive
Sedona, AZ 86336
$6,999,888
6
Beds
7
Baths
8,988
SqFt
Status
Active
MLS #
6751848
Property Type
Single Family Residence
Price Type
--
Welcome to ''La Aguilera'' -the epitome of luxury, perched high in the prestigious Cibola Hills of Uptown Sedona. This estate borders the National Forest and commands jaw-dropping, panoramic views of Sedona's awe-inspiring red rocks. Two exceptional homes, offered together, encompass approximately 9,000 square feet of serene, private living spaces, designed for the discerning buyer who values both elegance and comfort. With amenities like a sparkling pool, a sophisticated Wine Spectator Featured wine cellar, an elevator, and multiple decks and patios, ''La Aguilera'' offers a lifestyle that embraces the natural beauty of Sedona year-round. 25 Cibola: This 5,411-square-foot residence is an entertainer's dream, offering breathtaking red rock views to the North and the Mogollon Rim to the E The grand atrium's artistic double entry doors set the tone for a home that blends rustic Southwest charm with modern luxury. The lower level features a guest ensuite bedroom, a spacious gym or guest suite with a wet bar and fridge, and access to the convertible indoor/outdoor pool. Upstairs, the light-filled Great Room boasts pitched wood ceilings with exposed trusses, wood floors, a desert-toned brick fireplace, and an office nook. The guest bath offers convenient access to the pool, while the HUGE East viewing deck is the perfect spot for afternoon cocktails. The Primary Bedroom, with its granite dual vanities, tiled waterfall walk-in shower, and jetted tub, is a retreat in every sense of the word. The chef's kitchen is a culinary masterpiece, featuring granite counters, custom wood cabinets, stainless steel KitchenAid appliances, a breakfast bar, and a large walk-in pantry with additional prep space. Host grand gatherings in the massive 1,575-square-foot Party Room, complete with 12-foot ceilings, built-in speakers, a professional bar, and a stone fireplace. Whether it's casual dining, playing the Grand Piano, or a game of pool, this space accommodates it all with style. When the weather turns, move the party indoors to the HUGE indoor commercial grill, or relax in the intimate private patio. The convertible indoor/outdoor pool is a highlight of this home, featuring a mesmerizing mosaic tile and pebbled lighted water wall. The elevated spa offers a soothing escape, while the pool itself provides a perfect place to swim in comfort, no matter the weather. With additional amenities like owned solar, a security alarm system, multiple HVAC zones, an elevator, remote shades, stained glass accents, a Home Hydrant Talco Fire Safety System, and so much more, La Aguilera is the ultimate in luxury living. World-class hiking & biking trails are just steps away, offering an unparalleled Sedona lifestyle. For the buyer who demands the best, this estate is your gateway to the extraordinary. 55 Cibola: This magnificent 3,577-square-foot home is a showcase of refined craftsmanship. Custom hardwood floors, soaring ceilings, and expansive windows and sliders perfectly frame the iconic red rock vistas. The Great Room, anchored by a stunning smoky brick beehive fireplace with an Alligator Juniper mantle, invites you to relax and admire the beauty outside. Step onto the massive main deck for an even closer connection to nature, or ascend to the covered SKY deck for 360-degree views of Sedona's most iconic formations. Whether it's the clarity of the day or the brilliance of the night sky, every moment here is an experience. The Primary Bedroom Suite is a sanctuary unto itself, featuring a spacious walk-in closet, dual vanities, a separate tub and shower, and a custom red rock mural. The exterior deck offers a private hot tubperfect for unwinding while soaking in the views. A guest bath with dual vertical shower panels, each boasting sixteen heads, ensures every visitor enjoys a spa-like experience. The lower level includes a bonus living room/office, a 12x12 storage room, laundry, and garage access. Prepare to be wowed as you lead your guests to one of the most unique wine cellars you'll ever encounter. Greeted by a majestic water feature, planted grapevines, and wrought iron gates, this historic, high-tech, award-winning wine cellar is a marvel. Native red rock walls, inventory security sensors, and stained glass accents create an atmosphere of sophistication. Whether you're entertaining indoors or savoring the sunset from the covered outdoor sitting area, this space is designed to impress.
6630 E Stallion Road
Paradise Valley, AZ 85253
$6,999,500
6
Beds
5.5
Baths
6,985
SqFt
Status
Active
MLS #
6758313
Property Type
Single Family Residence
Price Type
--
Stunning luxury home nestled near Mummy Mountain. Breathtaking views. Ample scenic windows. Vaulted ceilings with tasteful wood beams create spacious feel throughout. Backyard welcomes you with pristine heated pool & spa, ramada with fire pit, built-in barbecue, expansive covered patio, putting green. Kitchen boasts dual islands, top Wolf and Sub-Zero appliances. Large great room gives way to stunning bar with newly upgraded wine room. Home features wood floors, limestone fireplaces, marble countertops. Recent addition offers state-of-the-art theatre room with wet bar, wine fridge, theatre seating, built-in projector. Control4 smart home system recently installed with 18 security cameras on property. Oversized five-car garage. Large driveway, ample parking. A true treasure inside and out. In the heart of Paradise Valley. Ideally located moments from shops and restaurants. Don't miss this incredible opportunity.
5255 N 47th Street
Phoenix, AZ 85018
$6,999,500
7
Beds
10
Baths
10,184
SqFt
Status
Active
MLS #
6664595
Property Type
Single Family Residence
Price Type
--
The perfect balance of a sprawling private estate & hillside views. Views of the city face SW for epic evening sunsets & vistas of Camelback's Red Rocks provide an awe inspiring setting. This split floor plan home has touches of spanish & tuscan architecture blending with elements of modern luxe including massive glass sliders and pivot doors that make the most of the spacious indoor living & extensive covered patios for outdoor entertainment. Primary bedroom features two full bathrooms w/walk in closets. 3 additional bedrooms are spacious ensuites. 2 upstairs bedrooms could also work as separate offices for work at home in style & comfort. Enjoy the game room, theater, negative edge pool, full tennis court, putting green.
9926 E Kemper Way
Scottsdale, AZ 85255
$6,999,000
4
Beds
5
Baths
6,649
SqFt
Status
Active
MLS #
6704911
Property Type
Single Family Residence
Price Type
--
Welcome to Silverleaf Arcadia's European inspired masterpiece home situated at the top of the cul de sac and surrounded by lush park like landscaping featuring 4 bedrooms and 5 bathrooms. The ideal layout for entertaining, with soaring 20 foot+ ceilings, a large great room open to the gourmet kitchen featuring both a breakfast room and formal dining plus a butlers pantry. The main level owners suite features a beautiful fireplace, and a large bathroom with his and hers vanities plus a walk in closet with custom cabinetry. Upstairs features 2 bedrooms, 2 bathrooms a game room and movie room plus fabulous oversized patio with beautiful mountain and sunset views. The guest casita has a fabulous private entry, beautiful kitchen and living room plus two large guest bedrooms. Plus a Brand new laundry/craft room with amazing storage and island. Step outside to a beautiful outdoor patio with large fireplace and outdoor kitchen. The sparkling pool with spa and water feature add beauty and the hidden wall of fire behind the pool dazzle for evening entertaining. Plus a splash pad for days the kids or pups want to Cool off and play. The park like back yard offers several patios with private water features and more incredible views.
3699 S Woodland Hills Drive
Flagstaff, AZ 86005
$6,995,000
5
Beds
5.5
Baths
5,900
SqFt
Status
Active
MLS #
6723410
Property Type
Single Family Residence
Price Type
--
Introducing the first one-of-a-kind custom residence from The Ranch Mine and Two Hawks Design and Development in the highly desirable Pine Canyon community. This extraordinary mountain contemporary estate can be found on the 5th hole of the renowned Jay Morrish golf course, with breathtaking golf and mountain views. With over 5,900 sf of living space this home features 5 beds, 5.5 baths, 2 bonus rooms and a 3 car garage. This custom residence showcases a truly thought-out floor plan with exceptional privacy and a functional layout, perfect for enternaning family and friends! The home's outdoor living is truly spectacular, enjoy breathtaking views and majestic sunsets from multiple patios. Optional 1,500 SF of bonus basement space available to build out (not included in the current price).
10938 E Wildcat Hill Road
Scottsdale, AZ 85262
$6,995,000
4
Beds
4.5
Baths
6,272
SqFt
Status
Active
MLS #
6672199
Property Type
Single Family Residence
Price Type
--
Construction is underway, the view will be even better than we thought it would be! Golf course lot with mountain views, still time to add your finishing touches! Images are intended to convey overall design direction for this home but final specifications are subject to change. Calvis Wyant Luxury Homes to provide up to date details.