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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10673 E Wingspan Way
Scottsdale, AZ 85255
$15,500,000
6
Beds
8
Baths
11,026
SqFt
Status
Active
MLS #
6702795
Property Type
Single Family Residence
Price Type
--
SILVERLEAF GOLF CLUB MEMBERSHIP OPPORTUNITY! Nestled within the exclusive Upper Canyon of Silverleaf, this privately gated 3.5-acre estate models luxury living. Meticulously renovated, no detail has been overlooked in crafting this exquisite residence. The chef's kitchen seamlessly connects to the family room, offering an exceptional space for entertaining. With 3 en suites and an office in the main house as well as an attached guest casita, complemented by a 4-car garage, this estate provides ample accommodation. Every room boasts stunning city or mountain views, with private courtyards and patios enhancing the indoor-outdoor flow. Other highlights include Crestron home automation, leathered marble countertops, hardwood floors, and timeless Venetian plaster finishes. The gorgeous principal suite features a steam shower, separate tub, dual vanities, dual closets, including it's own washer & dryer, a fitness room and a private secondary office with amenities. A separate 2,677-square-foot stunning guest home boasts a game room with custom pillowed walls, a full kitchen, 2 bedrooms, a bar with zinc countertops, an exterior pool bath, and a 2-car garage. Outdoors, discover a resort-style (and size!) oasis with an infinity pool, spa, multiple fire pits, outdoor fireplaces, ceiling heaters, fountains, and loggias. Don't miss your opportunity to experience unmatched luxury and breathtaking views - truly Arizona living at its finest. SILVERLEAF GOLF MEMBERSHIP OPPORTUNITY!
5630 E Rockridge Road
Phoenix, AZ 85018
$15,000,000
4
Beds
6.5
Baths
5,361
SqFt
Status
Active
MLS #
6799784
Property Type
Single Family Residence
Price Type
--
This graceful modern home, on the south side of Camelback Mountain, gives you panoramic views of Phoenix. You'll see the peaks of Papago Park, the twinkling lights of downtown Phoenix, and the vista of South Mountain. The home design seamlessly integrates indoors and outdoors. Its light oak floors, natural stone, and floor-to-ceiling windows reflect the natural beauty of the surrounding desert landscape. This peaceful feeling is enhanced by custom-designed stained-glass windows and doors, teak accents, and cream-colored walls. The living room's wall of windows allow you to relax and enjoy the views below. It is accentuated with natural stone and a light wood ceiling. These earth tones reinforce the indoor/outdoor feeling by mirroring the surrounding landscape. A refreshing pool and waterfall wraps around the spa, allowing 180-degree views of the desert. It is enhanced by elegant gas firepits. Guests will appreciate the shaded outdoors kitchen. The modern kitchen's use of light and dark wood allows it to integrate seamlessly with the rest of the homes. So does the butler pantry with floor-to-ceiling storage. The dining area has an enclosed floor-to-ceiling glass enclosed wine cellar. The primary suite has panoramic views. It has huge walk-in closets with storage cabinets. The primary bath has two separate sinks, one with a built-in vanity. You'll enjoy the views while soaking in the stand-alone tub. The glassed-in walk-in shower also has natural stone accents. The secondary suite has its own outdoor seating area to enjoy the views. This mountain-side tranquil retreat has desert landscaping in front and mature trees in back that create a lush garden and additional privacy. There are peaceful walking paths throughout the garden. Your completely private sanctuary has a gated entrance that leads to a three-car garage.
6742 N 48th Street
Paradise Valley, AZ 85253
$15,000,000
6
Beds
8
Baths
8,252
SqFt
Status
Active
MLS #
6799081
Property Type
Single Family Residence
Price Type
--
Spectacular Camelback Mountain views on a 3+ acre estate in the heart of Paradise Valley. Built by John Schultz, this home is the epitome of resort style living featuring a main and guest house, pool and spa, tennis court, manicured grounds, walking paths, and a 4-car garage. Great room includes high ceilings, wooden beams, gas fireplace, arched entryways and a wall of windows creating the perfect indoor/outdoor setting. Chef's kitchen features butler's pantry, high end appliances, multiple ovens, kitchen island and formal dining room. Primary suite includes separate sitting room with private entry to the backyard, built-in shelves, fireplace, dual sink vanities, oversized shower, freestanding bathtub, and walk-in custom closet. Backyard showcases guest house, pool and spa, large built-in BBQ area with a fireplace, tennis court, walking path, and mature landscaping with multiple areas to entertain while enjoying your secluded mountain views. Seller has plot map and surveyor's notes on how to split the parcel. Located minutes away from Paradise Valley and Scottsdale's top resorts, golf, dining, and shopping.
6964 E Stagecoach Pass
Carefree, AZ 85377
$15,000,000
4
Beds
4.5
Baths
5,718
SqFt
Status
Active
MLS #
6805350
Property Type
Single Family Residence
Price Type
--
Nestled high on Black Mountain, this private, single level retreat, on over 22 acres, offers breathtaking views. With beautiful attention to detail & craftsmanship, this unique architectural masterpiece features an open floor plan that blends luxury with comfort. The inviting great room seamlessly opens to the stunning outdoor space. The primary suite retreat offers a serene escape, and 2 ensuite bedrooms lead to a private patio. Additionally, an exercise room, office, and fourth bedroom enhance the home's functionality. Enjoy the convenience of being just minutes from shopping and dining. This property is a true sanctuary! An adjacent buildable lot is included with purchase (total lot acres include adjacent lot). For more information, please see ''Features List'' in the document tab.
11173 E Feathersong Lane Unit 1704
Scottsdale, AZ 85255
$14,995,000
6
Beds
6.5
Baths
7,698
SqFt
Status
Active
MLS #
6781754
Property Type
Single Family Residence
Price Type
--
Absolutely Gorgeous Modern Luxury Estate in Silverleaf Upper Canyon!! This Rare Jewel purchased new Aug of 2020 was barely lived in as a part time residence and is being offered as a Turnkey Home that includes $1.1 Million of professionally designed furnishings, artwork, rugs, accessories, technology, & housewares making it easy to move right in. Breathtaking panoramic city light & mountain views are unobstructed from this elevated homesite and offer both privacy and views. This well designed functional open floorplan was created by renowned architect CP Drewett and is sure to impress with exquisite finishes and furnishings only surpassed in grandeur by the incredible infinitely impressive views. The Main level includes Primary bedroom & two other full bedroom suites, Great Room, Dining, Kitchen, Walk-in Pantry, Lounge/Bar Room, Pool Table Room (could be an office), Laundry/Mud Room, Powder Bath, AV Room, Elevator, and Garage. The Lower Level includes a Media Room, three Bedroom Suites, Storage Room, and Elevator. There is a beautiful light filled wood & iron staircase or choose the Elevator to take you effortlessly between the Main & Lower levels. Some of the amazing features of this home are: wood flooring throughout except baths & laundry, designer rugs in most rooms, built in automated shades or draperies, designer touches at tile in bathrooms & other tile areas, impressive light fixtures, wallpaper in several rooms, Control 4 Home Automation system plus Lutron Lighting & Shade Control systems, outdoor security cameras as well as inside the garage, music throughout all main interior & exterior areas, limestone trim at exterior elevation & patio floors, wood plank patio ceilings, 3 laundry rooms, and stone clad fireplaces. The large Great Room has a floor to ceiling stone slab fireplace, Dining w/ a wine display wall with lockable glass doors. Kitchen w/ 2 islands, 60 Wolf range, Subzero R&F, 2 dishwashers, veggie sink, & tons of storage, and a large walk-in Pantry with adjustable shelves including cabinets for storage & countertop space for staging. Lounge/Bar Room w/ access to front courtyard seating area, floating display shelves, sink, refer & ice maker, and lots of storage. Pool Table Room off of the Great Room area could be used as an office instead. Spacious Primary bedroom w/ beautiful fireplace & tv above, bi-fold door system that opens onto a covered patio w/ a hanging couch, and floor to ceiling automated draperies. Primary bath w/ lots of natural light, free standing tub next to doors that open out to a balcony w/ views to the city, large shower w/ floating bench, coffee bar w/ built in coffee maker & refer, spacious vanities w/ linen storage & plenty of drawers, and his & her toilets. Large Primary closet w/ natural light, built in dresser, adjustable shelving, and laundry room. Guest Suite w/ separate living room & coffee bar, two bathroom sinks, and direct exterior access to front courtyard areas. Powder bath w/ textured stone wall, floating vanity and a window for natural light. Spacious covered patio off Great Room w/ tv & limestone clad fireplace, other covered patios and decks for dining and lounging, built in Wolf barbecue, and a negative edge heated pool to soak up the amazing views. Large Media Room w/ candy bar, refer, and microwave downstairs to take in your favorite movie or show. One of the lower level bedroom suite bathrooms doubles as a guest bath for the Media Room and Swimming Pool. Lower level covered patios w/ outdoor Ping Pong table & multiple seating areas, adjacent turf area, & exterior stairs up to the pool level. 8-car Garage features air-conditioning, security cameras, epoxy coated floors, wall mount door openers and two car lifts with a spacious garage courtyard turnaround area that feeds all 5 garage doors. 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.
10493 E Rimrock Drive
Scottsdale, AZ 85255
$14,995,000
4
Beds
5.5
Baths
9,154
SqFt
Status
Active
MLS #
6771280
Property Type
Single Family Residence
Price Type
--
Prime golf course frontage in prestigious Silverleaf! Experience unparalleled luxury in this exceptional 9,154 sq. ft. single-level, Spanish Colonial home, ideally situated on over 2.1 acres backing to the 17th fairway. Designed by acclaimed architect Erik Peterson and built by Salcito Custom Homes in 2013, this south-facing residence offers sweeping panoramas of multiple golf holes, the Silverleaf clubhouse, the McDowell Mountains, Camelback Mountain, and distant city lights. The property's desirable location is just blocks from the Clubhouse and Horseshoe Canyon guard gate, providing convenience and exclusivity. An immediate full GOLF MEMBERSHIP is available at an additional cost, bypassing the typical waitlist. The thoughtfully designed floor plan features a luxurious master wing with an oversized primary suite and two private offices. The entry leads to a spacious living room with a full bar and wine room, while the open kitchen and family room are complemented by a dedicated prep area and pantry. Additional highlights include a dedicate home theatre, private guest wing with two ensuite bedrooms, an exercise room, and a separate entry guest casita. The arrival area boasts ample guest parking and a generous auto court leading to a 5+ car garage. Elegant interior finishes showcase reclaimed wood flooring, Wolf /Sub-Zero appliances, whole-home Savant automation, wood beam ceilings, and designer light fixtures. The meticulously landscaped outdoor spaces provide numerous opportunities to enjoy Arizona's desirable climate. In addition to two private courtyards, the expansive backyard features a 20-meter pool and spa, a large covered patio, a separate cabana, BBQ center, large turf area, multiple fountains and fire features, and a trellis sitting area that captures panoramic views. This is an extremely rare find: a single-level home on the golf course in Silverleaf, complete with immediate golf membership opportunity. Silverleaf is renowned for its timeless architecture, world-class golf and spa facilities, and proximity to hiking, biking, dining, shopping, the Scottsdale Airport, and the Loop 101. Contact us for more information and secure your place in this distinguished community.
7835 N Ironwood Drive
Paradise Valley, AZ 85253
$14,995,000
6
Beds
8
Baths
10,676
SqFt
Status
Active
MLS #
6772382
Property Type
Single Family Residence
Price Type
--
Exquisite desert oasis on Mummy Mtn. A privately gated 3.34 ac Spanish Revival estate filled with quiet refinement, artistic vision, and state of the art technology. One of the last remaining large, intact lots on the mountain. The views, the grounds, the ancient olive trees combine to create an awe inspiring tranquil retreat. Completely updated/renovated in 2021-22 by Phx Architecture & Salcito Custom Builders, incl. solid walnut & limestone floors, Albertini steel windows, Caesarstone countertops, hand made Craftsman Court tile, antique stone fireplaces. Lutron & Savant integrated systems control audio, visual, lighting, HVAC. Two kitchens, Main + Prep. Fully built-out (1660sf) gym for any serious athlete + separate full GH. 5 Car A/C garages, motor court w/ entry & service gates Zillow users, please click on the more tab under Facts and Features to access the amazing virtual tour.
5902 E Arcadia Lane
Phoenix, AZ 85018
$14,950,000
5
Beds
7
Baths
10,074
SqFt
Status
Active
MLS #
6787036
Property Type
Single Family Residence
Price Type
--
Imagine stepping into a timelessly elegant, French-inspired Mediterranean estate gracefully positioned on nearly two acres with sweeping, unobstructed views of Camelback Mountain. This 10,074 SqFt masterpiece seamlessly marries artisan craftsmanship with ultimate modern luxury, offering an experience like no other. Inside, every detail tells a story. Reclaimed Hickory barn wood floors from Pennsylvania lay a warm, sophisticated foundation, and several carved stone fireplaces enhance the inviting ambiance. In the heart of the home, the kitchen and family room feature a magnificent vaulted ceiling supported by a solid Oregon timber beam—an architectural marvel that exudes grandeur. For entertaining, this estate is unmatched. A bar opens directly to the expansive patio, blurring the lines between indoor and outdoor living, while a butler's pantry and fully equipped secondary kitchen make hosting effortless. The double-barrel vaulted dining room with seating for 14 flows into a beautiful courtyard with a cozy fireplace and carved stone fountain, creating the ideal atmosphere for gatherings large or small. Every aspect of the primary suite is designed to indulge, offering two separate bathrooms connected by an elegant sitting area leading to a private primary courtyard. Her bath includes a Waterworks soaking tub, steam shower, dual vanities, carved stone fireplace, and custom designed closet with handscraped cabinetry. His bathroom is equally impressive with a shower featuring imported tiles and custom designed closet. This sanctuary of luxury and comfort is truly a space to retreat and relax. Outside, the meticulous attention to detail continues. Patios feature barrel-vaulted ceilings crafted from brick imported from France and painstakingly custom-cut on-site, creating an enchanting outdoor ambiance. The landscape includes imported limestone accents, raised stone-lined garden beds, and an antique horse trough garden sink, while the sparkling 745-square-foot glass-tiled pool invites relaxation. The estate also includes an 864-square-foot guest house with a private bedroom, bathroom, and kitchena secluded and comfortable retreat for visitors. This property is more than a home; it's an exquisite work of art crafted with uncompromising quality and style. It must be seen in person to truly appreciate its beauty, character, and soul. Step into this one-of-a-kind estate and experience the very pinnacle of Arcadia living.
10947 E Wingspan Way
Scottsdale, AZ 85255
$14,595,000
7
Beds
9
Baths
14,341
SqFt
Status
Active
MLS #
6755799
Property Type
Single Family Residence
Price Type
--
Nestled in the prestigious Upper Canyon of Silverleaf, this magnificent 2.22-acre estate, designed by Candelaria, constructed by Argue Custom Homes, and enhanced by Allhaus, is a testament to luxury living. It boasts breathtaking views of the McDowell Mountains and sweeping vistas of the valley. A dignified French Estate, it is securely positioned beyond the coveted Silverleaf guard gate, down a secluded, private road. As you approach, the serene sounds of an exterior fountain welcome you, setting the stage for the tranquil Scottsdale desert ambiance. The entrance, marked by an impressive limestone arch and exquisite front door, Rich wood beam details, and views leading to a resort-like backyard. The main level offers a variety of entertainment spaces, both formal and informal, including a private office, a luxurious master retreat to the west, and three additional en-suite bedrooms to the east. The formal dining and living rooms feature disappearing glass windows, seamlessly blending indoor and outdoor spaces. These rooms provide stunning views of the sparkling pool and expansive grass area, which descends to a two-bedroom guest house, rivaling the finest resorts in the valley. The bright, French-inspired chef's kitchen is an entertainer's dream. Equipped with top-tier appliances and a private butler's pantry, it's ideal for catered events. The kitchen opens to the family room - a grand room with soaring ceilings, an elegant entertaining bar, and a cozy breakfast nook with a private gas fireplace. The home's west wing is dedicated to the primary suite, beginning with an executive office. The suite features an oversized bedroom overlooking a private jacuzzi and outdoor fireplace. The suite gives a feeling that is reminiscent of the Silverleaf country club with two private bathrooms giving each partner their own generously sized space. The first bathroom you encounter is done in light tones with a standalone tub beside a beautifully decorated fireplace, it also features a large singular vanity, an expansive private closet, and shower that conjoins the two bathrooms. The secondary bathroom is done in darker tones and gives a Ralph Lauren feeling, with a walk-in closet done in dark wood and plaid carpeting. In addition, this portion features a bonus room/study that is the perfect place to rest and watch the game or could be a generous workout/peloton room or third closet. Ascend one of the three staircases to discover the home's entertainment hub, featuring a secondary bar/billiards room with stunning valley views, a private theater with a balcony, and the seventh en-suite bedroom, offering a kitchenette and separate entrance. On the south side of the property your guests can enjoy the beautiful 1,218 SqFt, two bedroom, two bath private casita. The casita features a French inspired kitchen with a La Cornue stove / oven, living room, laundry facilities, outdoor grill and a tranquil dining patio. The estate's grounds are a masterpiece of courtyards, balconies, and patios, blending seamlessly with the desert landscape. The motor court, accessible via a Porte Cochere, includes five spacious garage bays, one converted into an air-conditioned golf simulator - perfect for honing your skills before visiting the club. Don't miss this opportunity to own one of the Upper Canyon's most exquisite estates, a true embodiment of luxury and elegance.
23036 N Via Ventosa Drive
Scottsdale, AZ 85255
$14,500,000
9
Beds
14
Baths
20,088
SqFt
Status
Active
MLS #
6752339
Property Type
Single Family Residence
Price Type
--
Enter a long private drive to this 7 ACRE +/- compound in exclusive Gated Canyon Heights. Situated on a flat parcel w/spectacular Mountain + City Light views, the 20,088 sf, 9 bedrm compound features 2 HOMES w /2 swimming pools, one an OLYMPIC SIZED DIVING POOL w/high + low diving boards, a tennis court, racquetball court, wellness center, putting green, gym and large grass areas. The main house has 6 ensuite bedrms w/spacious living areas, game rm, den, bar, wine rm + movie theater. The separate guest house can function as 2 private apartments on separate floors each w/private kitchens, living areas & patios. The grounds have multiple patios, fireplaces, fountains, walking paths + childrens play areas. With 1 of 3 private bars in the 12 car garages- this is a true private retreat!
22805 N Church Road
Scottsdale, AZ 85255
$14,500,000
5
Beds
7
Baths
11,460
SqFt
Status
Active
MLS #
6799708
Property Type
Single Family Residence
Price Type
--
Set on 9.4 acres of the most exclusive and sought-after real estate in North Scottsdale, this private estate is a masterpiece brought to life by Parolo Builders and award-winning architect Stratton Andrews. The design features vertical polished custom block walls that frame breathtaking canyon views of the McDowell Mountains, while sleek, cantilevered steel rooflines create a dramatic aesthetic and generous covered outdoor spaces. A private elevator ascends to the open-air rooftop deck, complete with an entertainment bar, offering unparalleled panoramic vistas. Spanning 11,460 square feet, this gated estate seamlessly blends luxury and functionality. It includes 5 bedrooms, 7 bathrooms, a flex room off the primary suite, a private office, 2 laundry rooms, and a butler's pantry. The estate also boasts an 8-car garage, an expansive great room with a floating fireplace, and a chef's kitchen with double islands. A den or game room, paired with floor-to-ceiling glass walls, creates a harmonious flow between indoor and outdoor living spaces. Designed for ultimate relaxation and entertaining, the resort-style 70-foot pool and spa complete the outdoor experience. George Oliver Design Group has carefully curated top-of-the-line appliances, fixtures, and finishes, ensuring every detail reflects modern elegance and sophistication.
6541 N 48th Street
Paradise Valley, AZ 85253
$14,000,000
4
Beds
7
Baths
8,350
SqFt
Status
Active
MLS #
6790679
Property Type
Single Family Residence
Price Type
--
Casa La Roca, another single-level masterpiece estate built by DNP Homes, a stunning Mission-style estate set on a next-level Paradise Valley view lot. The breathtaking views of Camelback and Phoenix Preserve are prominently secured here; guests can elegantly be greeted within a zen-friendly gated courtyard before entering through its 16-foot arched glass entryway. Designed for entertaining, highlights include a 50-foot infinity-edge pool, a back kitchen, a walk-in wine room, and a state-of-the-art smart home system. The owner's wing boasts spa amenities like a steam room, private patio and boutique-style show closets. We welcome you to examine its craftsmanship, see its hand-chiseled stonework, Italian imported fixtures and finishing materials that'll define its value. Complete with a 4-car climate-controlled garage, this residence epitomizes elegance and modern convenience.