Arizona Ranks No. 7 For Highest Rate Of New Home Listings

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Arizona Ranks No. 7 for Highest Rate of New Home Listings

Arizona’s real estate market has been making headlines lately, and it’s no wonder why. The Grand Canyon State is not only known for its stunning landscapes and vibrant cities but also for its dynamic housing market. In a recent report, Arizona secured the No. 7 spot for the highest rate of new home listings in the country, highlighting the state’s appeal to both buyers and sellers.

The Arizona Advantage

The ranking is based on data from a comprehensive real estate study, which evaluated new home listings across the United States. The fact that Arizona claimed the seventh position is significant, considering the fierce competition among states for home listings.

So, what sets Arizona apart? There are several key factors contributing to the state’s strong performance in the real estate market:

  1. Scenic Diversity: Arizona offers an unparalleled diversity of landscapes, from the deserts of Phoenix and Tucson to the pine-covered mountains in Flagstaff. This variety attracts a wide range of homebuyers seeking their ideal environment.
  2. Thriving Job Market: Major Arizona cities like Phoenix and Tucson boast thriving job markets, with opportunities in various industries. Employment prospects are a major draw for those considering a move.
  3. Affordability: Compared to some neighboring states like California, Arizona offers more affordable housing options. This affordability has been a driving force behind the influx of residents from higher-cost regions.
  4. Investment Potential: With home values on the rise, Arizona presents a promising investment landscape. Homeowners can see their properties appreciate in value over time.
  5. Lifestyle: Arizona’s climate and lifestyle are irresistible to many. The sunny weather and numerous recreational activities contribute to its popularity as a destination for retirees and outdoor enthusiasts.

The Impact on Sellers

For homeowners in Arizona, this ranking is especially good news. The high rate of new home listings indicates a robust seller’s market. If you’ve been contemplating selling your Arizona property, now might be an ideal time to take advantage of the strong demand and potentially lucrative offers from buyers.

Your Path to a Successful Sale

Whether you’re a first-time seller or have experience in the real estate market, navigating the process effectively is crucial. Here are some steps to help you succeed:

  1. Assess Your Property: Begin by evaluating your property’s condition and value. Consider making any necessary repairs or improvements to increase its appeal to potential buyers.
  2. Set the Right Price: Pricing your home competitively is essential. An experienced real estate agent can help you determine the optimal listing price based on market trends and comparable sales.
  3. Market Strategically: Utilize online listings, professional photography, and social media to showcase your property. A strong marketing strategy can attract more potential buyers.
  4. Work with an Agent: Partnering with a local real estate agent who knows the Arizona market inside and out can simplify the selling process and increase your chances of a successful sale.
  5. Negotiate Wisely: Be prepared for negotiations. Your agent can help you navigate offers and counteroffers to secure the best deal for your property.

If you’re ready to capitalize on the robust Arizona real estate market, don’t hesitate to reach out. Our team of experienced real estate professionals at The Vergara Real Estate Group powered by HomeSmart is here to assist you every step of the way. Contact us today for a consultation to discuss your selling goals and get started on your journey to a successful home sale in beautiful Arizona.

Contact Us Today:

📞 623.219.6014 📧 JV@VergaraRealEstate.com 🌐 VergaraRealEstate.com

Let’s make your Arizona real estate dreams a reality.

Home Values Reach New Peak As Owners Hang On To Houses

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Typical home values eclipsed $350,000 for the first time ever as healthy demand from buyers continues to collide with reluctant sellers, according to the latest Zillow Market Report.

The June Zillow Home Value Index for Phoenix was $448,032, a month-over-month increase of 1% and a monthly mortgage payment of $2,307 with 20% down. That monthly mortgage payment is a 112.2 % increase over 2019.

“Home buyers have persisted this spring despite daunting affordability challenges and record-low inventory,” said Jeff Tucker, senior economist at Zillow. “Demand typically begins to ease in the summer, and there are signs that competition is waning, but large price declines are unlikely until more homeowners list their homes for sale.”

The typical U.S. home value climbed 1.4% from May to June, continuing a four-month hot streak. The new peak of $350,213 is almost 1% higher than last June and barely edges out the previous Zillow Home Value Index record set in July 2022. 

From hot spots to soft spots: Local home value trends: Affordability remains the key to market strength, as lower-priced metro areas posted the largest monthly gains; Chicago, Buffalo, New Orleans and Hartford all notched 2.1% monthly growth, with Detroit close behind at 2%. Those markets all have typical home values lower than the national average.

As in May, home values rose from the previous month in all 50 of the largest metro areas. The slowest monthly growth was in Austin (0.4%), followed by Jacksonville, Memphis, San Antonio and Birmingham, which all saw 0.8% increases.

Drought of new listings intensifies: The flow of new homes for sale ticked up 2.4% month over month, but the annual deficit deepened, now standing at 28% fewer listings than a year ago. June is usually one of the best months for fresh inventory, but this year only 376,500 new listings arrived on the market. That’s closer to levels seen in the slower months of February and October than to average new listings in June (505,100), according to Zillow data reaching back to 2018.

A lack of new listings has dogged the housing market for nearly a year, and higher mortgage rates remain the chief suspect. Rates at 6.8% this week (the highest since November, up from 5.1% a year ago and 3% two years ago) make it especially costly for homeowners — most of whom have a mortgage well below today’s rates — to borrow for their next home purchase. 

Another explanation could be that homeowners are holding out for higher prices. Home values have steadily increased since January in much of the country, but remain below peaks reached last summer in many markets. 

“It could be that some homeowners have been waiting until prices set new highs in their market before opting to cash in their chips,” Tucker said. 

The total pool of existing homes for sale is lower than any June since at least 2018. It’s down 10% from last year and a tremendous 45% below June 2019. 

Drop-off in demand means less competition for buyers: Potential buyers could see some slight relief on the horizon, as a few metrics indicate demand and competition are cooling. Sales measured by newly pending listings dipped almost 5% from May to June, following seasonal trends seen in 2022 and before the pandemic, when accepted offers crested in May. 

Listings also lasted longer in June, 11 days before the typical listing went pending, compared to 10 in May. But that’s still a much faster market than in 2019, when listings went pending in 21 days. 

Rent growth is back to normal: Zillow’s latest monthly rent report shows rent growth is back to pre-pandemic norms for this time of year, about 0.6% per month. San Diego overtook San Francisco as the third-most-expensive place to rent. 

Are You Ready to Capitalize on the Hot Glendale Housing Market?

If you’re a homeowner in Glendale, Arizona, and have been considering selling your property, now might be the perfect time. With home values on the rise and a shortage of listings, there’s potential for you to make a significant profit on your investment.

Our team of experienced real estate professionals in Glendale is here to assist you every step of the way. Whether you’re looking to upgrade, downsize, or simply explore your options, we can provide expert guidance tailored to your needs.

Don’t Miss Out on this Opportunity! Contact Us Today: CLICK HERE —> YES I WANT MORE INFORMATION!

📞 623-219-6014 📧 JV@VergaraRealEstate.com 🌐 VergaraRealEstate.com

Let’s turn your property into a valuable asset in this dynamic market. Get in touch with us now to schedule a consultation and learn how we can help you achieve your real estate goals in Glendale, Arizona.

Jose Vergara With The Vergara Real Estate Group, Powered by HomeSmart

Things To Remember When Buying Your First Family Home

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There is nothing more important than family. The memories that you have of them and the support you give one another are something that you won’t find anywhere else. This is why it is so important that you keep your family a priority over anything else. Doing this is going to keep you and your family as happy as possible over the course of your lives.

One of the biggest milestones that you will experience in regard to your family life is investing in your first family home. If you are currently preparing to do this, you are probably feeling a mix of nervousness and excitement. However, you do want to make sure that you do this properly. Buying your first family home is by no means a simple and straightforward thing to do. It deserves a lot of thought and consideration, so be sure to give it that. If you are not sure what to be conscious of when purchasing your first family home, here are some things to remember.

Location

First of all, you need to decide where you want to live. There can be a number of different things that impact this decision. For example, the work that you and your partner do are really going to affect this. You need to make sure you are either living in close enough proximity to your current job or moving to an area with plenty of opportunities. You also need to consider education options for your children. Depending on how old they are, these options might vary. Finally, you need to look at the quality of life that you are going to have in this area. This can come down to things such as safety, social life, and noise pollution. Based on the preferences of you and your family, you need to take these into consideration.

Price

Next, you need to set your budget. You could spend weeks getting your hopes up about houses that you can’t afford. This is only going to leave you feeling disappointed when you do eventually find one within your budget. This is why it is best to lead with your budget and only look within that price range. It is worthwhile checking out the credit score for an FHA loan. This could be a really viable option for you and could help you to get the home of your dreams.

Size

The size of your home is a very influential thing too. You want to make sure that your kids have enough space that they feel they can live an enjoyable home life. For example, if you are able to go with an option that gives kids their own bedrooms, this is a great option. As well as this, you are going to want to try and consider your plans for the future. If you think that you might have more children in the coming years, you should try and factor that into your decision.

Ready to find your dream family home? Contact us today to start your journey. Our experienced team is here to guide you every step of the way. Don’t miss out on this opportunity to create lasting memories with your loved ones in the perfect home. Get in touch now!—-> CLICK HERE!

Goodyear’s FirstStreet At The Ballpark Debuts Luxury Sustainable Design

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Building stronger, safer and more sustainable homes has never been more important. That’s why Tempe-based HercuTech, the manufacturer of the environmentally-friendly wall building system HercuWall®, partnered with developer Harvard Investments to build the most luxurious and sustainable single-family home community at FirstStreet at the Ballpark Village (located at 2755 S Estrella Pkwy, Goodyear, AZ 85338).“

We are incredibly proud to bring our HercuWall system to Goodyear,” said HercuTech CEO Jason Rhees. “It has been a game changer for developers working in the build-to-rent and multifamily space and we know this product will be a tremendous asset for the City of Goodyear, along with its residents who are looking for a superior luxury product that also has up to15% energy cost savings and 15% carbon emission savings annually.” 

Located within walking distance of the Goodyear Ballpark entertainment complex, and just off I-10 on Estrella Parkway, the 25-acre community will feature 251 single-level luxury homes with five floor plans, featuring one to three bedrooms. Offering a modern and open floor plan, the residences will include ten-foot ceilings, a kitchen island, high-end appliances, a covered porch, doggie doors, and private back yards. With ample room for a work-from-home lifestyle, these advanced residences will also employ smart technology throughout, including alarm and keyless entry, video doorbell, and the Enhanced Living Package backed by HercuWall® technology. The innovative HercuWall system provides a built-in quieter, healthier home environment. 

“FirstStreet is dedicated to best practices in building and thinking beyond the norm” said Robert Trujillo, VP at Harvard FirstStreet “which is why we were so excited to partner with HercuWall and their team on this project!”

HercuWall® panels are prefabricated walls made of EPS (expanded polystyrene) foam, reinforced with a patented steel HercuStrip™, laminated with a weather-resistant barrier, and followed by site integrated concrete. Independent testing has shown the walls are three times stronger than traditional wood framing, fire-resistant, disaster-resistant, and deter mold, moisture, and insects. HercuWall is a more energy-efficient and sustainable building solution over traditional lumber. Studies show that 100 HercuWall homes would save 68 metric tons of carbon dioxide each year, equivalent to the annual energy consumption of 8 homes.

This will be HercuTech’s first community in Goodyear and its 12th community in Arizona (with 1500 more units set to debut in Arizona in 2023 alone) to use their eco-friendly building system. The general contractor for the project is Urban Metro Builders and the HercuWall installer is SD Framing, part of REI Construction. HercuTech announced construction has already started and their HercuWall® installations are scheduled to go up at a record pace with the SD Framing crew completing 10 structures per week, finishing the HercuWall installs in early Fall. 

 The community will also feature a 4,000-square foot clubhouse featuring a fitness and yoga center, community kitchen and bar area, “Zoom” room, and featuring modern and upscale finishes. The resort-style pool provides three lap lanes, a water feature, and an additional spa pool. Residents will also enjoy bocce ball courts and a cornhole area, ramada, grill, fire pit, and outdoor TV. Community outdoor living spaces include five parks and open areas throughout, along with a fenced dog park.

Residents are steps away from the excitement of Spring Training with the Cincinnati Reds and Cleveland Guardians with close proximity to the Goodyear Recreation Campus, which opened in 2021. Surrounded by dining, entertainment, medical facilities, quality schools, and the nearby Phoenix Goodyear Airport, FirstStreet Ballpark Village provides an ideal location for anyone looking for easy, engaged living in the Southwest Valley, all while living in a better-built community. 

The community is located at 2755 S Estrella Pkwy, Goodyear, AZ 85338. For more information on FirstStreet at the Ballpark Village visit —-> HERE or call 623-219-6014

Real Estate Expert Shares 3 Vital Tips For First-Time Home Buyers

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Real estate expert shares 3 vital tips for first-time home buyers

If there’s one thing as hot as an Arizona summer, it’s the Phoenix real estate market. As first-time home buyers enter the market and the area continues to attract new residents, local Realtor Jose Vergara, who hangs his license with HomeSmart, offers tips to help potential buyers find their dream home.

Jose — who has specialized in residential real estate in the Glendale and Phoenix corridors with a niche in helping first time homebuyers, for the past 2 years — offers his top three tips for first-time home buyers:

1. Choose Need Over Want — It’s easy to get caught up in the cosmetic aspects of a home such as high-end appliances or new fixtures. However, when shopping for a home, it’s essential to make sure the “needs” checklist outweighs the “wants.” Remember that the wants, or non-negotiables — such as new appliances or a pool in the backyard — can be added down the line. While needs, such as a desired location (never underestimate location!), are much harder or even impossible to change upon buying the home.

2. Prequalify — Pre-qualification is vital for a number of reasons — one of which because it will give potential homebuyers a realistic guideline of what they can afford when it comes to the mortgage. Pre-qualification works on the flip side, too. Sellers may take a prequalified offer more seriously than another offer that comes from someone who is not prequalified.

3. Be Financially Disciplined — In any market, don’t try anticipating the peaks and valleys. Be financially wise, particularly if you’re selling and buying. In a strong market, you’ll earn a pretty penny and spend equivalently, while in a weak market, if you earn less in your sale, you’ll likely pay less for your purchase.

Ready to embark on your journey as a first-time homebuyer in the vibrant Phoenix real estate market? Let Jose Vergara, your local Realtor with years of experience, guide you to your dream home.

Contact Jose today to get started on your home buying adventure!

Free List Of Homes–> Click HERE !

Don’t miss out on the opportunity to make well-informed decisions and find a home that truly suits your needs and budget. Reach out to Jose Vergara & his team and make your real estate dreams a reality.

How To Maximize The Value Of A Home When Designing And Selling

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In today’s competitive real estate market, selling a home requires more than a “FOR SALE” sign on the front lawn. Homebuyers are increasingly drawn to properties that offer modern conveniences, captivating aesthetics, and unique design elements. To help maximize the potential value of your home when designing the space and optimizing the ability to sell, homeowners should consider exploring three key areas: technology integration, innovative lighting fixtures, and the creative use of materials.

Utilizing Technology:

Embracing the latest advancements in technology can significantly enhance your home’s appeal. With a multitude of hi-tech appliances flooding the market, it’s crucial to identify the ones that will truly stand the test of time. Consider incorporating automated window treatments and sliding doors, offering seamless indoor-outdoor transitions. Streamline your home’s functionality with light switches and plugs that all lead into one centralized area. Charging stations discreetly integrated throughout the house ensure that unsightly cords remain out of sight, catering to the needs of tech-savvy buyers.

Lighting Fixtures: 

When it comes to setting the right ambiance, lighting fixtures play a pivotal role. While large chandeliers can serve as stunning focal points, it’s important to compliment them with additional lighting sources. Recessed lighting, pendant or wall sconces, and even LED strips along countertops can transform the mood of a room. LED lighting, in particular, opens up a world of possibilities. Not only does it allow homeowners to control color temperature and brightness, but it also proves to be cost-effective and long-lasting—a win-win investment in both aesthetics and energy efficiency.

Choosing the Right Materials: 

Materials have the power to make or break the visual impact of your home. Breaking away from traditional choices like white subway tiles and hardwood floors, designers are now experimenting with combinations of wood, metal, and stone to create striking contrasts. Imagine a kitchen with a natural stone countertop and a sleek metal backsplash, or a bathroom adorned with textured metal panels alongside wood-grained drawers and a luxurious marble countertop. By embracing different finishes and colors, you can breathe new life into your home and leave a lasting impression on potential buyers.

As you embark on your home-selling journey, remember that certain areas hold particular importance in buyers’ eyes. The kitchen, great room, and master bathroom consistently yield the highest returns when it comes to remodeling. However, even small updates can make a significant difference. Don’t overlook the power of a refreshed powder bath, which can be easily updated to add a level of appeal to your home.

When considering countertops, it’s time to bid farewell to tile and embrace the elegance of slabs. Opting for stone countertops throughout the home ensures a cohesive and timeless look, with wood reserved for specific rooms to minimize wear and tear. Carefully select materials that align with your design style, whether it be classic marble, durable quartz, or the warmth of French white oak. Steer clear of flooring with orange or red undertones, as they might read to potential buyers as an outdated look. 

Maximizing your home’s appeal is a multi-faceted endeavor. While these three areas—technology integration, lighting fixtures, and materials—provide a solid foundation, other factors such as a fresh coat of paint, strategically chosen light bulbs, and decluttering can also contribute to creating an open and inviting space. By thoughtfully transforming your home, you can capture the attention of discerning buyers and secure the best possible return on your investment.

Ready to maximize the value of your home and make it a hot property in today’s real estate market? Our team of expert home designers and sellers is here to help you every step of the way.

Contact us now for a personalized consultation and discover how we can transform your home into a buyer’s dream.

VergaraRealEstate.com

Don’t miss out on the opportunity to sell your home for its highest potential value. Let’s make it happen together.

Living On Top: Exploring Hillside Homes In Phoenix, Arizona

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Nestled in the heart of the Sonoran Desert, Phoenix, Arizona, offers an enchanting landscape that is as diverse as it is beautiful. One of the city’s most unique features is its hillside homes, which provide residents with breathtaking views, serene living spaces, and a connection to the natural beauty of the desert. In this blog post, we will take you on a journey through the world of hillside living in Phoenix, exploring the benefits, lifestyle, and real estate options available in this picturesque setting.

  1. The Allure of Hillside Living in Phoenix: Hillside living in Phoenix offers a lifestyle unlike any other. Here are some of the key reasons why people are drawn to hillside homes in this desert oasis:
    • Panoramic Views: Imagine waking up to awe-inspiring sunrises and ending your day with the vibrant hues of a desert sunset. Hillside homes in Phoenix offer sweeping, unobstructed views of the valley, mountains, and city lights, making every day a visual treat.
    • Tranquil Environment: Away from the hustle and bustle of city life, hillside neighborhoods provide a serene and peaceful atmosphere. The natural surroundings and the gentle rustling of desert flora create a calming environment for residents.
    • Privacy and Exclusivity: Hillside homes often come with larger plots of land, offering more privacy and space for residents to enjoy. Gated communities in the hills provide an added layer of security and exclusivity.
  2. Exploring Phoenix’s Hillside Neighborhoods: Phoenix boasts several neighborhoods with stunning hillside homes. Here are a few worth exploring:
    • Paradise Valley: Known for its upscale hillside estates, Paradise Valley offers a luxurious lifestyle with some of the most exclusive properties in the area.
    • Camelback Mountain: Homes nestled against the iconic Camelback Mountain provide not only incredible views but also easy access to hiking and outdoor activities.
    • Ahwatukee Foothills: This community in the southern part of Phoenix offers a variety of hillside homes with diverse architectural styles and price ranges.
  3. Living in Harmony with Nature: Hillside living in Phoenix doesn’t mean sacrificing convenience. Many of these homes are within a short drive of the city’s amenities, including shopping, dining, and cultural attractions. Plus, the desert landscape offers unique opportunities for outdoor enthusiasts. From hiking and biking in the nearby mountains to stargazing in the clear desert night sky, residents can connect with nature in ways that are simply unparalleled.
  4. Investing in Hillside Real Estate: If you’re considering investing in a hillside home in Phoenix, it’s essential to work with a local real estate agent who specializes in hillside properties. They can help you navigate the unique aspects of hillside real estate, including geological surveys, zoning regulations, and property maintenance.
  5. Conclusion: Hillside living in Phoenix, Arizona, offers a lifestyle that combines the tranquility of the desert with the convenience of city living. From panoramic views to a strong connection with nature, hillside homes provide a unique and luxurious living experience. If you’re in search of a home that combines exclusivity, natural beauty, and modern amenities, Phoenix’s hillside communities may be your perfect oasis in the desert. So, why wait? Explore the breathtaking hillside homes of Phoenix and make your desert dream a reality.

Ready to Experience Hillside Living in Phoenix?

If you’re captivated by the allure of hillside living in Phoenix and want to explore the available hillside homes, our experienced real estate team is here to assist you. Whether you’re looking for panoramic views, a tranquil environment, or a private oasis, we can help you find the perfect hillside property that aligns with your lifestyle and budget.

Don’t miss out on the opportunity to make Phoenix’s hillside communities your new home. Contact us today to schedule a personalized tour of hillside properties, receive expert advice on the local real estate market, or get answers to any questions you may have.

Contact Us Now and embark on your journey to owning a piece of Phoenix’s hillside paradise.

6 Metro Phoenix Hot Spots For Luxury Homes

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The Phoenix area is vast. It’s home to millions of people, a number of suburbs and countless individual neighborhoods. As one of the biggest metro areas in the country (both geographically and population-wise), Phoenix has carved out unique luxury real estate enclaves that offer a distinct character for homebuyers in search of a specific look, feel and location in Phoenix for luxury homes.

From historic, to custom, to estate living, the following six areas capture a cross-section of the many flavors of luxury the Phoenix area has to offer. At the Vergara Real Estate Group we don’t necessarily have a favorite. We’re just proud to be able to work in a metropolitan area that offers such variety for buyers who are looking to own.

Let’s “tour” the luxury hot spots of Phoenix.

Historic Luxury: Encanto-Palmcroft. As a recognized historic residential area in downtown Phoenix, the Encanto-Palmcroft neighborhood offers a variety of pre-WWII architectural styles. Here, the homes “look” at each other as part of a concerted effort to create community at the time of construction and many of the homes represent revival styles, to include Tudor, Mediterranean, Colonial, French Cottage, Ranch, Eclectic and Pueblo. In recent years, Encanto-Palmcroft and other historic neighborhoods downtown have experienced a boost in popularity, increasing home values. 

Established Luxury: Paradise Valley. With Camelback Mountain at its doorstep, quite literally in some cases, Paradise Valley is synonymous with homes that radiate an established luxury. Supported by luxury retailers, pristine golf courses and a vibrant culinary scene, Paradise Valley homes offer a mix of architectural styles that in one area harkens to classic desert styles while in another imagines modern silhouettes with abundant glass and clean lines that work with the incredible landscape surrounding the home. In Paradise Valley, established luxury comes with a premium level of variety.

Intro to Luxury: North Central Phoenix. North Central Phoenix. The North Central area of Phoenix is a prime neighborhood for those looking to enter the luxury residential market — where the median home price hovers just shy of $1 million. The homes in this area are unique, mostly mid-century builds on larger lots with established greenery.  The area looks and feels like a midwest enclave in the heart of the city. Additionally, the area has accessibility to a number of freeways and proximity to the Phoenix Mountain Preserve, which in some places can make the city feel like it’s miles away.

Desert Luxury: Silverleaf. With homes that start around $3 million and top out at about $32 million, Silverleaf offers a textbook luxury living experience — complete with a country club component tucked within the neighborhood. Home to golf and near the McDowell Sonoran Preserve, Silverleaf offers homeowners a classic desert luxury living experience in what is known as the DC Ranch area.

Lifestyle Luxury: Arcadia. A darling of modern makeovers, Arcadia benefits from mature trees, citrus groves, larger lots and convenient proximity to upscale Phoenix dining and retail. With prices that top out at or just above $7 million, and plenty of opportunities below that, Arcadia offers an architectural mix of classic Arizona ranches and modern urban renovations. 

Southeast Valley Luxury: The Pecans. Tucked into the southeastern edge of the Southeast Valley, The Pecans offers custom and semi-custom homes in a gate community anchored by what once was a pecan grove. As a master-planned estate community, The Pecans offers owners community recreation amenities, lush parks and proximity to the trails that crisscross the nearby San Tan Mountain Regional Park. 

Maybe one of these areas speaks to you. If they do, we’d be happy at the Vergara Real Estate Group to guide you through the most current luxury real estate opportunities available. 

If you’re considering a purchase in the luxury market, the team at Vergara Real Estate is ready to help. We keep an eye on market trends so you don’t have to. Moving is an exciting time of transition, and we’re ready to help you with it. Contact Us today so we can learn more about how we can support your needs.