Realty Executives Phoenix
Denise van den Bossche
Denise van den Bossche
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Where is this small unknown town all the millionaires are moving to?
Link to: Wall Street Journal February 2022
California Couple contracts with design team for their second home with an estimated cost of $50 Million in Paradise Valley Link to: Phoenix Business Journal July 27, 2022
PARADISE VALLEY is a mature 16 square mile residential community with 6,442 homes and 12,650 residents (2020) surrounding Camelback Mountain, the Phoenix Valley’s most recognizable landmark. Camelback is visible as you descend into Sky Harbor International Airport. The Invergordon trailhead up Camelback is walking distance from Scottsdale Fashion Square Mall. You will pass through PV as you travel north up Tatum Blvd at a speed not to exceed a heavily policed 40 miles per hour. Although there are beautiful homes throughout the Valley of the Sun, you pay a premium to live on such a large private lot so conveniently located to everything Phoenix and Scottsdale are known for.
The Town was developed with a one-acre minimum lot size, and many estates are much larger. Most of the homes were custom designed and there are very few small master planned tract home projects. The streets embrace a natural hilly terrain provided by the foothills of Camelback, Mummy and the Phoenix Mountain Preserve. There is a dark sky ordinance for peaceful evenings and gorgeous sunrise and sunsets. The Town has its own Police force and city services. There are also premium resorts which were grandfathered in at incorporation. To have access to all of this in such close proximity to the biggest attractions in the State comes with a price tag, which is why Paradise Valley 85253 is the wealthiest zip code in Arizona.
The biggest appeal of Paradise Valley is its proximity to the city centers of Scottsdale and Phoenix, as well as Sky Harbor International Airport (PHX). It is also close to Scottsdale’s Airport (SDL) which is at capacity during the peak season that begins around the winter holidays and lasts through the March spring training season.
Homes here range from elevated estates with breathtaking views winding high on the hillside, to privately gated compounds, custom infills, and gated communities. There are two Golf Country Clubs, Paradise Valley Country Club with one 18 hole course; and the Camelback Golf Club north of the Camelback Inn & Spa, featuring two 18 hole Championship Golf courses. Both clubs currently have a lengthy wait list. The neighborhoods which surround these 54 holes are aggregately called Camelback Country Estates.
PV is conveniently just 10-15 minutes from Sky Harbor International Airport, the Phoenix Art & Theatre District, the Arizona Diamondbacks and Phoenix Suns Basketball arenas, Old Town Scottsdale and Arizona State University. The eastern border is Scottsdale Road, across from Gainey Ranch and the Shops at Gainey, the McCormick Ranch Golf courses and communities all the way south to Scottsdale Fashion Square Mall at Old Town.
Quick access to the 101 and 51 makes PV convenient to Casinos, Lakes, 15 Cactus League Spring Training games, the occasional Superbowl, the Fiesta Bowl and Arizona Cardinal Stadium, the Arizona Coyotes Hockey Arena, Phoenix Rising Soccer, numerous Collector Car Auctions, the PGA Phoenix Open and more. A PV resident typically lives within a 5 mile drive circle of all their favorite restaurants, groceries, Spa resorts, salons and shopping.
A short 2 hour drive north takes you to Sedona or Forrest Highlands in the cool pines, or to Ski Flagstaff with elevation of 12,000 feet. A 5 hour drive northeast takes you to the four corners intersecting Utah, Colorado, New Mexico, or to the Grand Canyon. Driving 4-5 hours west you can visit the beaches of Mexico or Southern California.
I bought my first home in PV in 1985 and have lived and sold real estate here now for over 35 years. I love PV's character, convenience, safety, and the ability to walk, jog or bike for hours without leaving the neighborhood. On the north side near Camelback Country Estates, we can take a golf cart to PVCC or Camelback Inn. We are also across Scottsdale Road from Gainey Village for restaurants, coffee, Pilates, Yoga, nails, hair salons and more.
There is no town property tax, thanks to the amazing resorts, and we have some of the best public and private schools. The town police are extremely accommodating and efficient in providing security to residents, from block watches to vacation check-ins and Cops & Coffee are regular events. There is a very active Town of Paradise Valley Woman's Association with activities ranging from paddleboarding and pickleball, to bridge and book clubs, with plenty of dining, movie and happy hour events to name a few.
Cherokee Elementary and Chaparral High School are located in the Camelback Country Estates quadrant of PV. These nationally recognized schools are part of the '3-C' schools in Scottsdale Unified. What other elementary schools do you know that find members of the police shooting hoots with the kids at lunch time? TPV Police have a substation on premise. Private schools include Phoenix Country Day, and Charter includes Tesseract.
Real estate here has always provided steady appreciation. In 2021 the PV median home price was $2.4 Million with a median square foot price of $455 (Cromford Jan 2021). Now you would be lucky to get a one acre lot for $1.8M and homes under $3M are a rarity. These values have continued to rise steadily over the years (Latest Housing Market Updates Here). Here is the latest national Luxury Home Market report (as of March 2023) with specific market updates on Paradise Valley, as well as Scottsdale and Phoenix.
There are many mountainside homes and large multi-acre estates on elevated grades in Paradise Valley. Many hillside homes view breathtaking Sonoran Desert sunsets,gorgeous surrounding mountain peaks, snow covered a few times each winter. Other homes also view the Scottsdale and/or Phoenix skylines. There is a no-dynamite policy in PV, which requires years to build a pad and driveway, and these costs are usually reflected in the price of the home. Of course, with the views are sometimes trade-offs including steps, steep driveways, and small usable yards. Due to the hillside terrain, biking and walking on incline are popular with residents.
Settlement in Paradise Valley began here just after World War II. The homes were modest in size and style and they usually occupied 1 to 5 acres. In the late 1950s, Phoenix and Scottsdale were looking to expand their respective boundaries, so residents formed a "Citizens Committee for the Incorporation of the Town of Paradise Valley, Arizona" with the main goals to keep zoning to a one house per acre minimum; to keep the area entirely residential; and to keep government regulation to a minimum. The town became a reality in 1961. Many of the original homes included incredible estates of some of this Country and State's founding families, vacationing politicians, dignitaries and celebrities. Several have been preserved and are now resorts and/or residences.
Known for its celebrity appeal, you will see framed dated photos line the walls of many of our Resorts. Marilyn Monroe regularly landed at the private landing strip at the former Casa Blanca Resort, now a historic neighborhood. Emma Stone grew up here, swimmer Michael Phelps wed here and they are now raising their family here, as well as many athletes due to the long list of championship and professional sports teams based in the area. Once you live in the area, it’s a great place to stay, plant roots, and retire.
Paradise Valley is in the heart of Phoenix, the fifth largest metropolitan in the United States. With over 300 days of sunshine a year, low incidences of natural climatic disasters, and mild traffic congestion, the Phoenix Valley is continually considered oneof the fastest growing areas of the nation. The Paradise Valley Ritz Carlton 110 acre development well under way is the first project undertaken by the Ritz in over 2 decades and will include some of the best shopping in the country.
One thing remains constant and is even more true than ever: Your Home Equity is a significant asset in your portfolio and you deserve expert guidance. Don't Discount Your Net Worth, Put Tenure in Your Transition. Is Now a Good Time to Buy or Sell a Home? Call Denise 602-980-0737, celebrating 36 years Arizona Real Estate. For the Latest Housing Market Trends, Updated Monthly, go to: www.HotFromPhoenix.com
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