By Mike Sunnucks | Rose Law Group Reporter
Real estate expert Jim Belfiore is seeing strong sales volume in the northern Arizona housing market.
Belfiore, who is president of Belfiore Real Estate Consulting, said some new residential developments are standing out as buyers continue to take advantage of historically low mortgage interest rates.
Orion at Timber Sky in Flagstaff is the top new home selling community in northern Arizona, according to the latest sales data collected by Belfiore’s firm.
But Belfiore said the Jasper community in Prescott Valley is also grabbing buyers attention.
Capstone Homes and Mandalay Home are selling home there.
Belfiore said Mandalay Homes is offering energy efficiency upgrades that are proving very popular with buyers.
“It really raises the bar,” Belfiore said of the upgrades offered to buyers.
Mandalay Homes at the Prescott Valley development range between $285,000 and $420,000.
He said for $2,500 buyers can make upgrades their home so it has net-zero energy emissions. Solar panels and other energy efficiencies result in the home producing as much energy as it uses.
For another $17,500, buyers can add on a battery storage unit that will store and utilize solar energy produced at their residence.
Belfiore said the upgrades are proving popular with buyers who may have previously been discouraged by the costs of renewable energy upgrades.
“It’s driving demand,” Belfiore said. “This is game changer and other builders are going to figure out a a way to copy it.”