Old Town, Scottsdale, Arizona – Real Estate Profile
Recently celebrating 50 years, Old Town Scottsdale is one of the most picturesque and visited attractions in Arizona. Best known for its Native American Galleries and Southwest Shops, Old Town Scottsdale just renovated many of its historic shops and has added phenomenal new real estate like stores, restaurants, and condominiums along its Waterfront District. Real estate in Old Town Scottsdale offers convenient living. Close to major highways, downtown Phoenix, Sky Harbor Airport, and many other amenities, Old Town Scottsdale is one of the most sought after places to live.
Buying Real Estate in Old Town Scottsdale
Old Town Scottsdale is one of the most exciting places to call home, providing an eclectic lifestyle to all who inhabit this renowned town. Buying property in Old Town Scottsdale is a smart real estate buy. Old Town is known to be one of the most livable cities in America, combining high standards of living with visual splendor and a multitude of things to do. Recent construction and renovation of shops, restaurants and condominiums has brightened the attraction of Old Town even more, and the demand to live there is starting to increase. If you enjoy urban living and being within walking distance of just about every necessity, Old Town Scottsdale is your best place to purchase a home.
Old Town Scottsdale Waterfront Condos and Lofts
The Old Town Scottsdale Waterfront is surrounded by glorious new condominium homes. Two 13 story towers comprise 99 luxurious condominium homes, ranging in size from 1,100 to 5000 square feet. Floor plans include one and two bedroom condos with optional dens. The condos were designed with distinctive craftsmanship including European cabinetry, granite countertops, and stainless steel appliances. Additionally, the condos provide gorgeous panoramic views of the mountains, water, and surrounding neighborhood. Each tower has its own luxurious reception area with fireplace and conference room. Residence can enjoy easy fob controlled elevator access, private dining, fitness and business centers, as well as storage and roof top swimming and spa. Sale prices range from $400,000 to well over $3 million.
Just west of Scottsdale Road and Goldwater Boulevard are 126 lofts known as Portales Place, ranging from 1600 square feet to over 4300 square feet. Sale prrices range from $600,000 to over $2.5 million. Home features include travertine flooring, granite countertops, maple or alder cabinets, Kohler hardware, and top of the line appliances. Additionally, home buyers and residents can enjoy 24 hour valet parking, state-of-the-art technology, full service concierge, a club room, a fitness center and a board room.
Less expensive loft living can be found at the Third Avenue Lofts, located just off Drinkwater Boulevard. These lofts range in price from $280,000 to just over $1 million. Eighty lofts range from 611 square feet to over 3000 square feet. These lofts include wood flooring, elegant cabinetry, exclusive fixtures, and high windows and ceilings. A terrific lower cost real estate investment.
Finally, located in the heart of Scottsdale, are the Main Street Plaza Lofts. A prime real estate location to all of your Old Town Scottsdale amenities, these lofts include a central courtyard, pool and private cabana. Prices start at $600,000 and optional penthouse suites are available for over $2 million.
Old Town Scottsdale Foreclosures
Foreclosed condos, town homes and lofts in Old Town Scottsdale are readily available. Since January 1, 2009 four hundred foreclosed condos, town homes, or lofts have closed. Currently there are 438 foreclosures available for purchase. Real estate investors and buyers can expect to pay on average $270,000 for a foreclosed condo, town home or loft at roughly 1,200 square feet in Old Town Scottsdale.
Foreclosed condos are driving Scottsdale real estate sales. Twenty-nine percent of condo sales in Scottsdale are bank owned. Investors and home buyers need to contact the Gary May Group today and invest in a great bank owned home while the foreclosure market is hot.
Old Town – Scottsdale Foreclosures, Bank Owned Homes, Short Sales
Commercial Real Estate in Old Town Scottsdale
Old Town Scottsdale offers unique commercial real estate. Most of the buildings are historic and offer a wide range of locations throughout the downtown area. Much of the commercial real estate in Old Town is entertainment and tourist driven. Despite the economy at present, Old Town Scottsdale’s commercial real estate industry does not appear to be suffering as much as other cities. Some investors and commercial real estate buyers are renovating the current historic buildings, adding to the appeal and attraction of the town. Commercial real estate prices currently start in the mid $200’s and can go up into the high $900’s.
Old Town Scottsdale Documents
- Scottsdale Old Town Real Estate Plan
- Scottsdale Old Town Land Use
- Scottsdale Old Town Building and Land Design
- Scottsdale Old Town Downtown Plan
Taxes for the year 2008 ranged widely depending on location. Loft tax payments ranged from $2500 to well over $3600 for the year. Waterfront Condominium homeowners paid as little as $1670 and as much as $4821 for the year. Taxes payers usually pay between .8 to 1.5% of the assessed value in property taxes.
Growth and Development of Old Town Scottsdale
The historic district, now known as Old Town Scottsdale, contains a variety of shops, restaurants, museums, nightclubs, stadiums, galleries, boutiques, and luxury condo and loft living. Residents never have a problem finding things to do, and tourists love the multifaceted diversity of the town.
In 1951, the town of Scottsdale had just 2000 residents. Today Old Town has an estimated population of 37,890 people, accounting for 16% of the total population of all of Scottsdale, Arizona. This area continues to grow and thrive as new businesses and residence see opportunity as great here and make Old Town their choice to reside.
Key Characteristics of Old Town Scottsdale
- Extends from Thomas to Camelback on Scottsdale Road, covering just under 2 square miles
- Seven districts make up the downtown Scottsdale area
- Over $3.3 billion spent into new real estate development
- Waterfront district features two 13 story, $250 million luxury condo homes located along the canal with winding pink sidewalks, and luxurious landscape.
- Wide variety of dwellings – luxurious high rise condos, affordable apartments and condos, eclectic style of homes with very different floor plans and interior decorating schemes.
- 20 hotels, 100 art galleries and 90 restaurants
- Boasts an upscale arts district, hip nightclubs and trendy boutiques
- Home to professional and personal services businesses, day spas and salons
- Host to the San Francisco Giants Spring Training
- One of the longest paved greenbelts for running, walking, biking, etc.
- Close to Tempe, ASU sporting events, luxury resorts and golf courses, Tempe town lake, Mill Ave, Phoenix Zoo, and Oakland A’s spring training field
- Downtown Trolley and free bus service
Old Town Scottsdale is surrounded by many area activities and events. Nearby golfing communities provide residents and tourist year round amusement. Additionally, Scottsdale has an amazing, endless biking, walking and running trail with winding turns, spectacular views, and easy access. Finally, the gallery district, the night club district, City Hall, and the canal district are all within walking distance to one another, providing countless hours of entertainment.
Old Town Scottsdale Street Map
Click on map to enlarge
Old Town Scottsdale Demographics
Demographic Data for Zip Codes 85251
Total Population: 37, 890 Total Households: 37,462
Male Population: 18,231 (48.1%) Average Household Size: 2.0
Female Population: 19,659 (51.9%) Family Households: 24,069
Median Age 37.7 Non Family Households: 13,933
Density (persons per sq mi) 5872
All of Scottsdale Demographics
Total Population: 202,705 Total Households: 90,669
Male Population: 97,785 (48.2%) Average Household Size: 2.22
Female Population: 104,920 (51.8%) Family Households: 54,458
Median Age: 41.0 Non Family Households: 36,211
Density (Persons per sq mi) 45.2
tags: realestate foreclosure, bank owned properties, REO, realestate, real estate, real estate foreclosures, real estate short sales
For a current listing of Scottsdale foreclosures contact the Gary May Group, Scottsdale foreclosures specialists.