Silverleaf at DC Ranch is located at the 101N and Pima. The average home price in this fine community is 3.8M and is the highest priced subdivision in Scottsdale, Arizona. The average property tax is expected to reach $6200. More than half of the homes in this community are still based on land tax and therefore only pay on average 2k per year for property tax. We expect the property tax change in 2011. HOA in Silverleaf averages $462/quarterly. Several homes in Silverleaf are well over 5k sqft. One of the few popular builders in Silverleaf at DC Ranch is Sunridge Builders. They’re homes are by far the finest built with no expenses spared for details.

Average days on market for Silverleaf at DC Ranch

As of October 2009, most homes in this community are averaging 240 days on market. This is typical for multi-million dollar Scottsdale homes. While some homes sell faster than others, they’re main selling point is the location within the community. Lot premiums are big and take priority when selling a home. Lot premiums for Silverleaf include: Golf Course Lots on Silver Club Golf Course, proximity to Desert Spring Park and Lake and 1 acre lots. While most of the homes in this subdivision average 2/3 of an acre, the real value is for homes with extra sqft lots.

As of October 2009, we are showing a steady increase in home sales and a flat line for price per sqft. This means, on average most homes sell for $197.00 per sqft. This is only down 12% from it’s high of $220.00 per sqft six months ago.

Silverleaf Foreclosure Stats

Silverleaf in the recent months is showing evidence of more trustee sales and increased trustee notices. The amount of trustee notices have gone up 20% since last year and trustee sales up 10%. This is not a good sign for home owners and sellers in this community. Based on this information, we expect home values to drop at least another 10% before leveling off. We base this information on a steady baseline for price per sqft showing signs there is not an increased value and more trustee notices going out. An ideal time to buy a home in this community is expected to be April-June of 2010.

Homes for Lease in Silverleaf at DC Ranch

Properties in Silverleaf are in High Demand. Most homes are listed and rented in less than 60 days. The average rental list price in Silverleaf is between $5500-9500 monthly. The homes leasing within the 60 day time frame are usually listed around $5500 monthly. Other homes in this subdivision which are listed higher can take up to 260 days to be leased. Our concern with homes leasing at less than 8k per month is the possibility the owners of these properties are leasing the home at a loss. Our research has shown, most home owners hold a 1.6M mortgage. This equals $10,644pi at 7%APR. This leaves a huge potential loss for investors in this area. With a steady increase in foreclosures and homes leasing for less than half of what they owe monthly on them, one can only think a rental at this price can’t last long. However, many of our clients are protected from this potential by requesting the owner complete a VOM. ( Verification of Mortgage ) We request this as a courtesy for all our high value clients.

If you would like more information on homes for lease or property management, please contact Broker Executives, Inc.