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Phoenix Equestrian Estates Home Sells for $1.5 Million by Local Ahwatukee Agent

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Believes this could be the beginning of a turn-around in Ahwatukee high-end luxury home market

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									Phoenix Equestrian Estates Home Sells for $1.5 Million by Local Ahwatukee
Agent

Believes this could be the beginning of a turn-around in Ahwatukee high-
end luxury home market

Scottsdale, AZ, July 14, 2010 -- In the worst high-end real estate market
in Ahwatukee's short history there are signs of a revival. A beautiful
6,400 square foot 5 bedroom & 7 bathroom home located in the Ahwatukee
Equestrian Estates Subdivision recently sold for $1,500,000 on June 9th,
2010.

Ahwatukee high-end real estate transactions have been especially hit hard
in the economic downturn with 10 homes currently listed in MLS over
$1,000,000 in the area

The home was listed and sold by Frank Aazami and Chey Castro of the Russ
Lyon Sotheby's Frank Aazami Private Client Group. Castro has a particular
affinity for Equestrian Estates having grown up in Equestrian attending
Los Lomas Elementary School, Centennial Middle School, and graduating
from Mountain Pointe High School. His father was one of the first
residents in Equestrian buying in the original lot offering in 1979 and
building his custom home in 1983.

"It really has been a roller coaster ride over the years having witnessed
firsthand the initial surge in home values followed by the flood of
listings and decline in home equity in Equestrian. It is my hope that a
sale like this will result in better comps in the area," says Castro.
"Although I feel the high-end market in Equestrian is firming up, buyers
and investors are recognizing a window of basement luxury pricing in an
area totally unique to Phoenix."

Castro currently is an agent under Russ Lyon Sotheby's Scottsdale
Waterfront Office and expertise is in realty for both purchasing and
listing properties in Equestrian Estates, Silverleaf, DC Ranch, Paradise
Valley, and North Scottsdale. The Frank Aazami Private Client Group
currently has 23 listings over $1,000,000 - the highest priced listing
being $13,500,000.
To learn more about Frank Aazami and Chey Castro.please visit their
websites: http://www.frankaazami.com and http://www.cheycastro.com or at
chey.castro@russlyon.com.

Contact:
Chey Castro
Russ Lyon Sotheby's International Realty
7135 E. Camelback Rd. Suite 360
Scottsdale, AZ 85251
602-570-2516
chey.castro@russlyon.com
http://www.cheycastro.com

								
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