Desert Highlands August 09

Desert Highlands’Hot Real Estate Listings

Beat the Heat!Refreshing Warm Weather Wines

1031 Exchange to a Primary ResidenceIs it Legal?

Asian-Inspired SeafoodStingray Sushi’s Lobster Ceviche

August 2009

SPECIALIZING IN DESERT HIGHLANDS AND ALL OF NORTH SCOTTSDALE

An experienced Realtor gives you a substantial advantage when looking to buy or sell a home in Scottsdale, Arizona. Personal Experience As a native Arizonan with 30+ years as a full-time real estate professional, I thoroughly understand the Scottsdale market. I bring with me a complete knowledge of the community, your development and the changing market conditions. Personal Commitment My reputation rests on the sale or purchase of your home. My involvement begins early with the Market Preparation Guide, which includes recommendations to help your home sell faster and for a higher price. When you are looking to purchase a home, my staff and I keep you abreast of the newest listings coming on the market which meet your specific criteria. Whatever your housing needs, you receive the highest caliber of commitment to your success from negotiation through close of escrow. Personal Advantage I believe you deserve personal service and attention. You are making one of the biggest

investments of your life and you should expect the professionalism

and commitment of an experienced Realtor.

I look forward to speaking with you today!

Joanne Bradley

Bradley Private Brokerage/ Realty Executives

1-800-727-1247

480-488-4224

Ranked Top 4 Realtor by Ranking AZ 2007

Member of Who’s Who in Luxury Real Estate

Member of FIABCI (International Immobilier)

[email protected]

www.bradleygolfproperties.comStatistics gathered from MLS and do not reflect private sales.

All information is deemed reliable but not guaranteed.

A SAMPLING OF REAL ESTATE ACTIVITY IN

If your home is currently listed, this is not a solicitation for that listing. Produced by Desert Lifestyle Publishing • 480.460.0996 ISSN-1939-943X

Lot Number Sq. Ft. / Bed / Bath List PriceCURRENTLY FOR SALE: 331 2,929 / 3 / 3 $995,000 2051 2,635 / 2 / 3 $1,000,000 634 3,457 / 3 / 3.5 $1,100,000266 3,720 / 3 / 3 $1,385,000 19 8,549 / 6 / 6 $1,620,000 405 5,214 / 3 / 4 $1,775,000 1030 4,313 / 4 / 4.5 $1,875,000 923 4,667 / 4 / 4.5 $1,950,000 660 5,167 / 4 / 4.5 $1,995,000 1012 5,075 / 3 / 3.5 $1,995,000 479 6,500 / 5 / 6.5 $1,995,000 679 5,707 / 4 / 4.5 $2,100,000 261 4,297 / 4 / 4 $2,495,000 321 4,809 / 4 / 4.5 $2,500,000 1 11,749 / 6 / 7.5 $2,557,500 789 7,139 / 4 / 4.5 $2,700,000 52 5,758 / 3 / 3.5 $2,745,000 600 7,157 / 4 / 4 $2,850,000 453 6,943 / 5 / 6.5 $2,900,000 264 5,789 / 4 / 4.5 $2,995,000 623 6,111 / 5 / 5.5 $2,999,000 448 9,514 / 4 / 6 $4,995,000 5 11,500 / 4 / 7 $4,995,000 802 6,366 / 5 / 3.5 $5,300,000SALE PENDING: 1043 3,908 / 4 / 4.5 $1,675,000 290 5,849 / 4 / 4.5 $1,995,000 612 6,748 / 4 / 4.5 $1,999,000SOLD: SOLD PRICE 2 4,498 / 3 / 4 $950,000

All information is deemed reliable but not guaranteed. The properties on this list have been listed/sold by various participants in the MLS.

FEATURED PROPERTY: Lot 634 • 3,457 Sq. Ft. • 3 Bed / 3.5 Bath • $1,100,000

BUILDER’S OWN HOME! This southwest contemporary home is built with extra insulation and foam to maximize energy. Automatic roller shields on many windows controls heat and serves as a security feature when you are away. Four A/C units keep you cool and comfortable. Magnificent views of Pinnacle Peak, Troon Mountain and the McDowell Mountains will make you feel like you’re in paradise. Marvel in this custom home’s quality throughout. The office has custom built-in shelves and a roomy closet. The dining room/living room offers fabulous mountain views. Wide panels of glass and floor-to-ceiling commercial windows throughout the home maximize the non-stop views. The kitchen/family room also has great views and is perfect for entertaining. The breakfast area offers curved walls and stunning views of Pinnacle Peak.

Jazz AttackCelebrity Theatre, Aug. 7th602.267.1600 or celebritytheatre.com If jazz is your passion, Jazz Attack is right up your alley. These three jazz connoisseurs, Rich Braun, Jonathan Butler and Richard Elliot, join forces to bring you a sensational show. Their unique styles of eclectic and smooth jazz combine to make quite a musical experience.

SpikedDesert Botanical Garden, Aug. 13th480.941.1225 or dbg.orgIt’s a summer vacation, without having to go far from home. Spiked brings you a different beach destination each month this summer, with August’s beach theme as Arctic Beach. For your entertainment, DJs D.K. Strickler and Rani G. will be spinning the hits all evening long. Dance your way over to the bar and try the delicious cocktail showcased for the evening, the Mudslide!

Eddie GriffinTempe Improv, Aug. 14th-15th480.921.9877 or tempeimprov.comYou may have seen Eddie in one of his many comedic and dramatic movie rules such as Date Movie, John Q. and Armageddon. Now here is your chance to see his live comedy that started it all. His quick wit and hilarious topics will keep you laughing through the entire show. You don’t want to miss this special appearance.

Arizona Opera Film Series: La BohemePhoenix Art Museum, Aug. 23rd602.257.1222 or phxart.orgThe Arizona Opera is teaming up with the Phoenix Art Museum this summer to bring you three great films that directly relate to their 09-10 opera season. La Boheme is the tale of 19th century bohemians who are rich in life and friendship, but poor on funds. The love between poet Rodolfo and seamstress Mimi is captivating! This famous opera is what inspired the ever popular musical Rent.

Celebrity Waiter Night Morton’s, Aug. 24th480.951.4440 or mortons.comWhat a dream come true for all you sports fans. Not only will you get the opportunity to meet some of the Arizona Cardinals such as Kurt Warner and Larry Fitzgerald, but they will be serving your dinner too! Guests will enjoy a cocktail reception with silent auction followed by a fabulous four-course meal. This wonderful evening is in support of the Carol Fitzgerald Memorial Fund, Larry Fitzgerald’s personal charity. This program raises money for urban education, breast cancer and HIV/AIDS awareness.

Arizona Cardinals vs. Green Bay PackersUniversity of Phoenix Stadium, Aug. 28th623.433.7100 or azcardinals.comCan’t get enough of our Cardinals? Get a sneak peak at the 2009-2010 team during their pre-season games. Check out the newcomers and the veterans and see if they have what it takes to make it all the way to the Super Bowl again! If you have not been to the University of Phoenix stadium before, this is a great time to. The stadium is a state-of-the-art facility with two large retractable panels for the roof and over 63,000 seats. Go Cards!

AUGUST 2009

As most real estate investors are aware, the IRS Code 1031 allows for the exchange of investment property to defer the capital gain tax and preserve their equity. In lieu of an actual “sale”, the 1031 exchange allows you to relinquish and acquire property through the use of a third party intermediary. A “Qualified Intermediary” such as IPX 1031 in Phoenix is one such company that specializes in real estate exchanges. When exchanging property, there are several guidelines and restrictions that must be met. David Tornell, Account Executive and Certified Exchange Specialist at IPX 1031, explains. “One of which is that the property you’re exchanging must be classified as an investment. Your personal residence or personal use property, such as a second home, does not qualify. Likewise, the property you are acquiring must also be an investment property.” However, there is great news for property owners that want to exchange their investment properties for a personal residence! In fact,

many investors hold multiple properties and have earned quite a bit of equity. It’s those property owners that might be thrilled to learn that they can finally exchange those for the home of their dreams! “While you cannot exchange from an investment property into a primary or personal use property, an investor can exchange into a property that they can then convert into their primary residence,” Tornell explains. Known as Revenue Procedure 2008-16, the IRS has made this process simple, easy and perfectly legal! As you can imagine, the IRS has created some rules and restrictions. Here is a simple explanation of how it works:1. Property owner sells their investment property and buys a primary residence through a 1031 exchange.2. After the exchange, the property must be rented for at least 14 days during each of the two years after the exchange. There is no guideline that states that it can’t be rented to trusted friends. Family members, however, do not qualify.

3. For the first two years, the property owner can not reside in it for more than 14 days each year.4. After that, the property is theirs to use as they like!

As an added benefit, they can sell their former primary residence and use their Home Gain Exclusion (up to $500,000 for a married couple) to pay off the loan on their “dream home.” “Beginning the 1031 exchange process is simple,” Tornell says. “Inform your Realtor that you want to do a 1031 exchange. They will make sure the correct language is in the contract. When you open escrow, give your Qualified Intermediary such as IPX 1031 a call. In a matter of minutes, they will coordinate with escrow and make sure the exchange agreement is in place prior to close of escrow.”

Understanding the tax benefits available to real estate investors gives a new understanding of how powerful real estate holdings can be in your wealth portfolio. For more information and details on building your real estate portfolio, contact your Realtor.

Ahh, the dog days of summer. You’ve just spent a long day in the sun or are stuck in traffic on your way home from work with the air conditioning wearing thin. What would tingle your taste buds and elevate your spirits? Hot weather doesn’t have to lead to iced tea, beer or fancy cocktails. An easy-sipping, preferably chilled, glass of wine is just what the desert-survival doctor ordered. The consensus among wine connoisseurs is that light wines with a touch of sweetness and effervescence best offset the heat. Poolside, Mark Tarbell of Tarbell’s Restaurant in Phoenix serves his friends Nivole Moscato d’Asti… frozen. Clever! For those dedicated red wine drinkers, Tarbell suggests a chilled Coldstream Hills Pinot Noir. When it hits triple digits he likes, “a chilled, well-made Rose like the Rosato di Sangiovese from Iron Horse or Chateau de Pibarnon,” and serves them with salumi, an antipasto of Italian-style cured meats.

SUMMERTIME AND THE LIVIN’S GETTIN’ EASIER Summertime conjures up the idea of relaxing and celebrating. What better way than with sparkling wine (aka Champagne). Save on the expense of a premium Champagne and mix a bit of sweetness with an inexpensive brand. Try these refreshing beverages:• Classic Champagne Cocktail – Soak a sugar cube in bitters, then pour Champagne over cube and add a twist of lemon.• Mimosa – Mix 1:5 of freshly squeezed orange juice to Champagne and add a touch of Triple Sec.• Bellini – Mix 1:4 of peach syrup to Prosecco and garnish with ripe peach slices.• Kir Royale – Add a dash of Crème de Cassis to any Champagne.

Jeff Jones from Bacchus Wine Made Simple at Kierland Commons recommends a Prosecco, Il Mionetto (the Italian version of Champagne). The bottle in itself is fun – a bowling pin shape with a beer cap closure. Trader Joe’s Summer Guide 2009 suggests their Louise d’ Estree brut sparkling wine, a blend they recommend pairing with a baguette, strawberries and some French brie. Not in the mood for bubbles? Go for a Riesling and serve with salad and fish. Food & Wine magazine’s August pick is the 2007 Dr. Loosen Riesling Kabinett Bernkasteler Lay. Tarbell agrees with the Dr. Loosen choice and also likes anything from the Terry Thiese selections.

“LIFE IS TOO SHORT TO DRINK CHEAP WINE” Luckily you don’t have to spend a lot to drink good wine. In June, Whole Foods revealed their favorite summer wines for less than $9. Check some out and find a new favorite!

1. Presto Prosecco2. Rudolf Muller “Bunny” Riesling3. Biokult Gruner Veltliner4. Vinum Chenin Blanc/Viognier5. V-Solo Verdejo6. Manifesto! Sauvignon Blanc7. Bonterra Rose8. Escudo Rojo9. Pirovano il Rosso di Enzo10. Rutherford Hill Merlot11. Penfolds Koonunga Hill Shiraz Cabernet12. Castello di Gabbiano Chianti

They suggest cheese with all the wines and recommend an Aged Hirtenkase with risotto, soup and salad, a Fromager D’Affinois with berries and summer fruits, a GranQueso with soup and sandwiches, a Robusto with pasta and roasted veggies, and a Seaside Cheddar with grilled burgers and beef sandwiches. Now you know what to eat this summer too!

LOBSTER CEVICHE WITH BUTTER LETTUCE

Featuring Stingray Sushi4302 N. Scottsdale Rd. • Scottsdale

480.941.4460 or stingraysushi.com

Lobster Mix

Ingredients:

3 oz. lobster, chunked

1 Tbs. mango, chunked

1 Tbs. red onion, diced

1 Tbs. cilantro & jalepeno, minced

1 Tbs. avocado, chunked

1-1.5 oz. soy citrus sauce

6 butter lettuce cups

Procedure:

Combine first six ingredients in mixing bowl and

mix well. Place approximately 1 oz. mix per butter

lettuce cup.

Ingredients:

1/4 part yuzu (Japanese citrus juice)

1 part ponzu (Japanese sauce)

1/2 part soy sauce (lite)

Procedure:

Combine all ingredients and mix well. Drizzle over

assembled lettuce cup. Add caviar and lobster

claw as garnish if desired. Serve chilled.

Brand YourselfBe your own vintner at Casavino Custom Winery. Pick your favorite wine, start fermentation of a batch (28 bottles) and about six weeks later your custom- designed label goes on the bottles. No grape stomping necessary! Starting at $279 inclusive of all materials and consulting experience, all you have to do is have fun. It’s a great idea for a party or corporate event. If you can’t find something you like from the 22 in-stock varietals from seven regions around the world, Casavino can special order more than 250 different wines.

12005 N. Saguaro Blvd. Suite 101Fountain Hills, AZ 85268Phone 480.816.VINO or casavinowinery.com