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$18M Paradise Valley home sells in 'strong as a bull' market

Tuesday, December 15, 2020   /   by Juan Grimaldo

$18M Paradise Valley home sells in 'strong as a bull' market

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In a year of record-breaking sales, the third highest-priced luxury home to ever sell in Arizona sold in November for $18 million. That’s according to the luxury real estate agent who represented both the buyer and the seller of the Paradise Valley residence.

Built in 2018, the French country-style home at 6112 N. Nauni Valley Drive is 13,929 square feet and has four bedrooms, seven bathrooms and an eight-car garage, according to posting on the Multiple Listing Service. The gated estate in this exclusive Paradise Valley neighborhood has a large backyard and T-shaped swimming pool. 

Joan Levinson, of Realty ONE Group facilitated the sale. A largely private sale, the Nauni Valley Drive house was only on the MLS for a single day. 

The seller was 612 Properties LLC, according to the warranty deed filed Nov. 3 in Maricopa County. The buyer was Nauni Desert Property LLC.

Despite the Covid-19 pandemic, Levinson said the Valley’s real estate market “is as strong as a bull.” The pandemic has actually improved an already red-hot market as many buyers are looking to the region, particularly in Paradise Valley and north Scottsdale, because of the large lot sizes.

“People want to be here because of the distance,” she said.   

Jim Belfiore of Belfiore Real Estate Consulting said historic low interest rates this year didn’t hurt either. While he only tracks production homebuilders, Belfiore said interest rates for jumbo loans are at 2.875%. 

“It is drawing buyers into the marketplace,” he said. 

Levinson said many of her clients are moving to the Valley from out of state, in particular California, New York and Chicago, she said.

“They are coming in in droves,” Levinson said. “It is crazy. I am getting calls every day from someone coming in from out of state.”

Out-of-state buyers are opting for the Valley because of low taxes and home prices, the nice year-round weather and the minimal traffic, she said.

Another one of the highest-priced homes to sell in 2020 was also in Paradise Valley. In October, a 28,043-square-foot home within the exclusive Cameldale Estates of Paradise Valley at 5710 N. Yucca Road sold for $20.9 million. It has seven bedrooms and 11 bathrooms.

Realtors Walt Danley and Catherine Jacobson of Walt Danley Christie's International Real Estate brokered that deal. 

 
Keller Williams Realty Elite- The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395
480-365-8346

© 2021 Arizona Regional Multiple Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Arizona Regional Multiple Listing Service. Real estate listings held by brokerage firms other than Juan Grimaldo - Keller Williams Realty Professional Partners - The Grimaldo Group (WINBACK) are marked with the Arizona Regional Multiple Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Arizona Regional Multiple Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. January 21, 2021
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