In the News

August 30, 2024 - Joshua Peters, founder of Stately Development, recently set multiple real estate records in Paradise Valley. He co-developed and sold a 15,516-square-foot mansion for $32.39 million, marking the most expensive residential sale in Arizona history.J. Andrew Turley, president of Phoenix Valuations, noted that while one sale doesn't redefine the market, it has raised the threshold for luxury properties.

August 28, 2024 - Mark Matson, CEO of Matson Money, has sold his Paradise Valley mansion for a record-breaking $20.975 million in an all-cash deal, the highest-priced residential sale in Arizona for 2024. President of Phoenix Valuations, Andrew Turley has appraised the $20.975 million Paradise Valley estate on multiple occasions. Turley highlighted the home’s prime location in the exclusive "Billionaire’s Row". He noted the rising value of real estate in the area, where land prices have roughly doubled since 2020, further elevating Paradise Valley’s status in the luxury residential market.

August 25, 2024 - Andrew Turley, president of Phoenix Valuations, has been closely tracking the skyrocketing land prices in Arizona's luxury markets. His research reveals that land prices in areas like Paradise Valley and Arcadia have doubled over the past three years. Despite higher mortgage rates, the luxury market remains strong, with two-thirds of buyers paying in cash.

August 20, 2024 - Phoenix Valuations President Andrew Turley noted that the recent $18.75 million sale of a Paradise Valley estate at $1,808 per square foot highlights the strength of Arizona's ultra-luxury market, which continues to see robust demand. Sold in an all-cash deal, this transaction reflects the increasing momentum in the luxury home market, as Paradise Valley remains a hotspot for high-end real estate development.

July 30, 2024 - Metro Phoenix saw home prices increase by 4.4% in May. J. Andrew Turley, president of Phoenix Valuations, highlighted the strength of Phoenix's housing market, attributing it to solid bank underwriting standards and high FICO scores. Despite higher mortgage rates, Turley emphasized that the housing market in Phoenix remains fundamentally strong due to sound lending practices.

July 28, 2024 - A Modern Mediterranean estate in Scottsdale’s Silverleaf community sold for a record $17 million, the highest home sale in Arizona so far in 2024. J. Andrew Turley, president of Phoenix Valuations, confirmed the sale as the largest of the year, highlighting the strength of the luxury market despite the typically quieter summer months.

July 9, 2024 - Andrew Turley, president of Phoenix Valuations, noted a steep decline in mortgage appraisals due to rising interest rates, leading to industry-wide downsizing and business pivots. Experts predict more mergers, acquisitions, and layoffs as the mortgage industry faces ongoing instability.

June 10, 2024 - J. Andrew Turley said the following, "The program, from an earth forward/good steward of the planets/finite resources standpoint is incredible," Turley said. "And then on top of that the tax credit just adds additional beneficiary aspects to the homeowner using the program."

May 12, 2024 - “J. Andrew Turley, president of Phoenix Valuations who appraises luxury homes, said the 85018 ZIP code, which borders Paradise Valley, is becoming more popular. There is certainly a shift in wealth going on in the region, considering the well-known Paradise Valley ZIP code 85253 is no longer the wealthiest enclave in the market.”

May 5th, 2024 - “This inbound wealth shift is accelerating as more people relocate to Scottsdale from Southern California, Chicago, New York City, Seattle and Portland, Oregon, said J. Andrew Turley, president of Phoenix Valuations, which appraises luxury properties.”

April 14th, 2024 - There have only been nine sales in Desert Mountain above $9 million on the Arizona Regional Multiple Listing Service market within the last seven years, Turley said. Of those, eight sales closed within the last five years.

"Just because the sales volume historically above $9 million is low, it does not mean this market lacks the inventory that would command a price above at this highwater mark," he said. "It's just a matter of time before homes in Desert Mountain successfully close above $9 million semi-regularly."

March 24th, 2024 - “It's incredible to see the level of execution and foresight into the remodel and modernizing of this house ... taking an old and tired outdated home built in the early 1990s and made the estate feel as though it was built today," Turley said. "It was an incredible job by the general contractor and the interior design team.”

March 10th, 2024 - "I believe we are at an inflection point in the upper echelon of the luxury space where we may indeed see a new stratospheric price threshold pushed higher," said Andrew Turley, president of Phoenix Valuations, a sought-after appraiser of luxury residential properties.

January 30th, 2024 - "As the market has not 'gone off a cliff,' I think people psychologically are thinking: 'OK, the fundamental underwriting is strong, values aren't rapidly depreciating, rates will likely not go back to 2%-3% in the near future, now might be a good time to buy heading into a year where rates will likely trend down over time," Turley said.

November 22, 2023 - The U.S. Census data shows metro Phoenix is the No. 2 destination in the U.S. for migration patterns for "high net worth" households, second only to South Florida, said J. Andrew Turley, president of Phoenix Valuations.

November 7, 2023 - On average, homes are sitting and taking longer to sell, said J. Andrew Turley, president of Phoenix Valuations. "We are definitely seeing pressure on the average days on market metrics," he said. "Average days on market is up 20% to 30% in the last four to six months."

October 1, 2023 - The Carol Royse Real Estate Show sat down with Andrew Turley of Phoenix Valuations to discuss the luxury market in Arizona. Listen to the full interview to gain new insights on the latest luxury real estate dynamics.

September 29, 2023 - Andrew sat down with the podcast Let’s Talk Development with Max and Patrick to get real about what drives real estate value. Listen to the full episode on Apple Podcasts or watch it on Youtube.

September 6, 2023 - Andrew Turley, president of Phoenix Valuations, discussed the latest drop in investment home buying with the Phoenix Business Journal.

Andrew Turley said that the recent trends regarding investor property owners is "helping with increasing our inventory levels, which is much needed as 67% of all Arizonans have a mortgage rate of below 4% and these homeowners are resistant to selling and entering the 7-8% interest environment." Read the full article to learn more.

August 29, 2023 - The Phoenix Business Journal is out with the latest on Phoenix’s real estate dynamics with insights from Andrew:

Andrew Turley, president of Phoenix Valuations, said a luxury home in a good location — near retail, well-rated schools, employment and recreation options — will sell quickly if it's priced relatively competitively.

June 2, 2023 - Buyer snags a land parcel for a record $7M with plans to build a personal home that has views of Camelback Mountain and Mummy Mountain.

Andrew looked at the most recent land sales in Paradise Valley said “Not being involved in the transaction, as a bona fide land sale, this is likely the highest dollar per acre sale in all of Paradise Valley," he said. "Truly unbelievable price metric. The broker/agent did a great job for their client."

May 30, 2023 - Check out the latest from the Phoenix Business Journal: “The market is experiencing somewhat of a reset as a result of the run-up in prices from 2020 to the spring of 2022, said Andrew Turley, founder of Phoenix Valuations and a luxury developer.

May 10, 2023 - We basically redid everything except the shell of the house," said Turley, president of Phoenix Valuations. "We re-engineered all the openings. We wanted it to be a custom house." One of the hallmarks of a home with the highest price point per square foot is the amount of natural light that penetrates the whole space, Turley said. Ripping out the old standard Arcadia sliding door, Turley installed a $60,000 10-foot high stacking door system to create an indoor/outdoor entertainment area.

We’re proud to partner with our capital partners to help develop custom luxury homes in the Phoenix area. Our latest project was this 5,000 square foot property situated in Windgate Ranch.

We often work with developers and private equity clientele to consult on exit strategies, map out expectations on return, capital expenditures, report on costs and timing for projects.

May 21, 2023 - Check out the latest insights from Andrew on The Carol Royse Real Estate Show where he sits down with Carol & Vikki to discuss all things luxury real estate, complex appraisals and Arizona’s market nuances.

A highly regarded appraiser has mapped out land values in one of Arizona's premier luxury real estate markets. The "Monopoly" board game was his inspiration. He found that there are seven distinct pricing submarkets within the 85253 ZIP code.

We had the opportunity to appraise the David and Gladys Wright House located in the Arcadia neighborhood in Phoenix, Arizona a few years back.

For those who are familiar with Paradise Valley, they know it is one of Arizona’s premier luxury real estate markets. But Paradise Valley is not a singular market. In fact, each neighborhood or borough in Paradise Valley acts as a submarket and has unique factors that determine its market value. Why? Because real estate is hyper-local.

April 11, 2023

Come join us for a special event with High Place Mortgage on April 4th, 2023 from 1pm-2pm. Learn about the seven distinctive “boroughs” of Paradise Valley, the pricing trends and current conditions in the luxury market. Get expert insights on how to get the best out of your investment in this beautiful area. Visit our instagram page for more details in how to get your invitation!

April 3, 2023

Phoenix Valuations' President Andrew Turley, a developer of luxury homes was mentioned in the Phoenix Business Journal, “Is cash still king in metro Phoenix? Here’s how Valley compares for all-cash home sales”

March 14, 2023

More luxury real estate is coming to Arizona. Read more about the exciting new property in the latest Wall Street Journal article.

February 27, 2023

Phoenix Valuations’ monthly blog capturing national and local trends impacting the real estate and appraisal market

February 8, 2023

I had the honor of presenting alongside Brent Nardecchia, Co-Founder and CEO of High Place Mortgage, at a coffee and Q&A session. We covered topics ranging from market conditions, appraisal valuations, creative loan programs and more.

January 20, 2023

Homepoint laying off Arizona employees amid high mortgage interest rates

November 22, 2022

How these two luxury Valley homes sold during a cooling housing market

November 21, 2022

Ep. 2 - The One with Andrew Turley and Kathleen Mcdowell

August 2022

Phoenix Valuations' President Andrew Turley joined a group of speakers at the Forbes Global Properties RETSY Monthly Round Up to discuss dynamics between appraisers and agents, how to get the most value on your home and how to set yourself up for success when working with an appraiser.

October 2022

Blending Two Worlds