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It was the best of times, it was the worst of times.
It’s not often that Dickens and Arizona intersect, but how else to describe
the juxtaposition that is Scottsdale? Real estate is crashing, but the tourists
keep coming and the hotels and restaurants being built to cater to them are world-class.
Call it A Tale of Two Cities with a desert backdrop.
Stay
The Four Seasons at Troon North (480-515-5700, fourseasons.com/Scottsdale,
10600 E. Crescent Moon Dr.) reminds us just how perfectly Canada’s luxe
chain does lodging. Nestled in North Scottsdale at the base of Pinnacle Peak Mountain,
the location makes you forget that you’re minutes from a major city. For
those who prefer more central surroundings, Sanctuary on Camelback
Mountain (480-948-2100, sanctuaryoncamelback.com, 5700 E. McDonald Dr.)
offers sleek casita lodging right on the area’s signature landmark. And
finally, that symbol of urban sophistication, W Hotels (480-970-2100,
starwoodhotels.com, 7277 East Camelback Road), has finally landed in downtown
Scottsdale.
Eat
Local restaurant maestro Peter Kasperski shows off his golden touch with the new
Digestif (480-425-WINE, digestifscottsdale.com, 7114 E. Stetson
Dr.), a note-perfect rustic Italian eatery in the middle of Scottsdale’s
new waterfront development. Across the street is the new location for Kasperski
and Nobu Fukuda’s Sea Saw (480-481-9463, seasaw.net, 7133
E. Stetson Dr.), which remains the city’s standard for a handcrafted modern
dining experience. A pair of high-profile newcomers, Michael Mina and Laurent
Tourondel, are anxious to show Phoenicians a trick or two. Mina’s Bourbon
Steak (480-513-6002, michaelmina.net, 7575 East Princess Dr.) at the
Fairmont Scottsdale Princess pairs a darkly elegant room with Mina’s over-the-top
flair for the world’s finest (kobe and truffles). Tourondel will counter
later this fall with his Gallic approach to beouf at BLT Steak
in the newly refurbished Camelback Inn.
Swing
High-season rates at most courses don’t kick in until November, so tuck
into a legendary track like the newly redesigned Tom Weiskopf/Jay Morrish masterpiece
at Troon North (480-585-7700, troonnorthgolf.com, 10320 E. Dynamite
Blvd.) Bonus-you can look for sale signs on the houses that line the fairways. |
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FIRE SALE Where
to find great value.
Experts predict that the once blistering Scottsdale real estate market has at
least a few months before bottoming out, but falling prices, a strong Canadian
dollar and ample supply have created a perfect storm for property buyers. Says
one idle realtor: "Locals might be envious-but for the fact that if
it weren’t for Canadians there would be no one buying property right now."
Look beyond the MLS listings to foreclosures and auctions (default research.com
and foreclosure.com are two places to start), or simply walk around a neighbourhood
and look for green pools and unkempt lawns-abandoned properties that someone,
either an owner or a bank, needs to sell pronto. Be cautious of real estate agents
who promise easy rental income from a unit when you are up north; the crash has
created a glut of owners scrambling to occupy their once promising investments.
Here’s a cross-section of properties available in and around Scottsdale’s
best locales.
 Scottsdale Special
9451 E. Becker Lane, Suite 1028B
List Price: $199,900 / SqFt: 1,242
Bedrooms: 3 / Bathrooms: 2
This rare three-bedroom condo was originally listed at $273,900. After over a
year on the market with no takers it has been re-priced. With other units in the
same community "selling" for between $239,000 and $245,000, this condo
looks like it might get snapped up.
Lakefront Luxury
8270 N. Hayden Road, Unit 1010
List Price: $455,000 / SqFt: 1,434
Bedrooms: 2 / Bathrooms: 2
Located in the desirable McCormick Ranch area, this "lakefront" property
has a lovely view but the owners appear in full denial. At this price, it will
languish on the market until reality sets in.
Retro Revamped
8053 Via De La Escuela
List Price: $610,000 / SqFt: 1,902
Bedrooms: 2 / Bathrooms: 2
Part of the Santa Fe 2 lake and golf course subdivision, this Spanish contemporary
property has been extensively reno’ed with granite countertops and stainless
steel appliances. It’s been on the market for almost a year.
The High Life
9701 E. Happy Valley Road
List Price: $6,995,000 / SqFt: 6,847
Bedrooms: 5 / Bathrooms: 8
At first, realtors hoped that the top of the market wouldn’t feel the effects
of the slowdown. Not anymore. This expansive beauty, set on 10 acres, has an eight-car
air-conditioned garage, and was listed in early 2007. |
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