The Valley's housing market may be sluggish, but a recent sale proves multimillion-dollar deals are still getting done.
In one of the priciest transactions so far this year, a Canada-based trust shelled out $14 million in cash last month for a nearly five-acre estate close to Mummy Mountain in Paradise Valley.
Arizona Mojave LLC sold the more than 9,300-square-foot house at 8040 N. Mohave Road to Mohave Road Trust, according to documents from the Maricopa County Recorder. Built in 1999, the house includes seven bathrooms and a four-car garage.
Homebuilders are still on the move in the south East Valley with a luxury subdivision now open in Chandler near the Santan Freeway stretch of Loop 202.
Tempe-based Palacia Homes recently opened sales at Vintage Villas, a 59-house community along Willis Road between Price and Dobson roads.
Homes range in size from roughly 2,750 square feet to just over 4,400 square feet, with options for basements and casitas. Prices run from $565,000 to nearly $700,000.
Palacia also has subdivisions, called Sonoran Vistas and Desert Sky Ranch, in Casa Grande.
A new online search engine for houses has jumped into the hyper-competitive Valley market, partnering with local real estate agencies to attract users.
Roost.com, which launched in the Phoenix area earlier this month, combines a search engine with a network of real estate firm Web sites, such as HomeSmart Real Estate and Equitable Sotheby's International Realty in the Valley.
The online company partners with local Multiple Listing Services and has house listings for more than a dozen metropolitan areas.
Another Web site also is targeting the Valley real estate market.
Video marketing site WellcomeMat.com connects agents with local video producers - think YouTube, but for houses. On the site, potential buyers and sellers can find local agents, as well as watch video tours of houses.
Agents can also find producers to create videos and are given personalized channels that allow clients to watch multiple videos.
Ventana Fine properties
A boutique real estate agency specializing in luxury homes recently opened an office in Scottsdale's high-end DC Ranch neighborhood. Ventana Fine Properties, at 20865 N. 90th Place, Suite 200, serves north Scottsdale, including DC Ranch and Silverleaf.