One phenomenon noticeable in the Phoenix metro area has been the significant challenges Sellers face when competing with a Builder who essentially offers more, for less.
Resales in built out areas continue to hold their value, while resales in areas that compete with Builders are finding that the market value based on past sold comps is "out the window".
The age restricted communities of Sun City, Sun City West and Sun City Grand are no exception when it comes to competing with the brand new Sun City Festival.
A home in Sun City Grand that previous comps suggested could be sold in the mid $350s last summer has languished on the market for 8 months. One similar comparable property has sold for close to $300K during that time. During the same period, Sun City Festival sold over 600 homes!
Unfortunately, Sellers in Sun City Grand who missed the sales boat in 2005, prior to the opening of Sun City Festival, don't want to hear it! "Sun City Festival is NOT competition for my home because they don't have a supermarket!" True - they currently don't. Residents have to drive about 10 minutes into Surprise, AZ to shop - however - there will be a Fry's Marketplace opening at Festival Ranch this summer - of which Sun City Festival is a community. And the sales numbers speak for themselves. In discussion with a Sales Associate at Sun City Festival, who had been a Sales Associate at Sun City Grand until that community closed out, I was told that "Absolutely Sun City Festival is strong competition for Sun City Grand, Sun City West and Sun City. We offer more, brand new, for less than the resale prices in those communities."
While I was there I observed lines (flashback to Disneyland!) to get in the doors of the models! The parking lot was packed! Anyone considering a retirement community in the North West Valley MUST take a look at Sun City Festival. The opportunities for great pricing and great homes exists now - with 6 to 8 month build times.
For more information on how we can help you with your interest in a retirement home in Sun City Festival or elsewhere in the Valley of the Sun please visit us at
If you are considering a Traditional or Short Sale of your home in Phoenix, Scottsdale or any location in Maricopa County Arizona, you owe it to yourself to talk with the BVO Luxury Group @ Keller Williams Arizona Realty to determine whether Tony and Suzanne Marriott are the best real estate Brokers in the Phoenix and Scottsdale metropolitan area to help you with the Successful Sale of your home.
Tony and Suzanne have personally Listed, Sold and Closed more than a hundred Short Sales with the highest list to close rate in the Phoenix Metro Area!
Tony Marriott - Chief Operating Officer - BVO Luxury Group @ Keller Williams Arizona Realty
Suzanne Marriott - Chief Learning Officer - BVO Luxury Group @ Keller Williams Arizona Realty