New Home Building in Sereno Canyon

North Scottsdale has maintained its status as a valuable real estate market throughout the many changes in the economy. There are several factors that currently make it an ideal time to build or start planning your new home in the Sereno Canyon community.

With construction loan rates averaging between five and six percent, the cost of financing is at an all time low. Additionally, material prices have reached record three-year lows. However, material pricing seems to be on the rise yet again, making right now an especially great time to begin building your new home.

A positive byproduct of the recession is the improved quality of labor. During the boom from 2004 - 2006, many suppliers and subcontractors could not maintain enough labor to adequately staff and complete projects. As a result, their construction schedules were adversely affected. Since the economic downturn many companies have maximized efficiency by streamlining their processes and improving internal controls. Furthermore, subcontractors are now able to retain the best and brightest of the labor force. This keeps labor costs in line which equates to a direct savings and benefit to the buyer in terms of lower prices, less delays, and increased quality.

Looking back over the past five years, the North Scottsdale zip codes have experienced significantly higher increases in values during the boom times, and dramatically lower decreases in values during the downtimes, when compared to other cities in Arizona or other areas of the country.

To illustrate an example of this, say in 2004 you purchased a home in the 85262 zip code for $1,500,000. That home today, even with the latest decrease in home values, would be worth $1,768,500.

People choose Sereno Canyon because it is a unique community that offers its residents a multitude of luxuries including estate-sized properties and preferred membership at The Golf Club Scottsdale. Come see for yourself why Sereno Canyon is different from all other Arizona gated communities. Schedule an in person tour today.

Tags: new home building, north scottsdale, real estate, sereno canyon