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  • From: Gene GeRue <genegerue AT ruralize.com>
  • To: homestead AT lists.ibiblio.org
  • Subject: Re: [Homestead] Intentional Communities
  • Date: Sun, 24 Jun 2007 10:40:36 -0700


On Jun 24, 2007, at 6:35 AM, VAN DELL JORDAN wrote:

Is it understanding or just assumption about
homogeneity? And does this effect last for
generations? And does it work for all economic
levels. Biltmore has always been for the upper
income, Desert Ridge and Superstition Mountain are
still very new.

Desert Ridge and Superstition Mountain are being developed according to a solid business plan of proven success. I know Biltmore best; that is where I focussed my four years in real estate sales here. The Biltmore is inhabited by people with more than average amounts of wealth, people who own sports teams or play on them as well as business owners, entertainers, etc. I sold a condo there that was owned by the president of Mercedes Benz North America; he has other homes in Europe. Glenn Campbell just sold his house there. Paul Harvey has a house there. People of above-average wealth got that way by learning how to create and retain wealth. One of the things they do is buy homes in areas that are inhabited by people like themselves. There is no mix of poor and rich. These people know that homes are good long-term investments. They are well maintained. Excepting for the mansions on Biltmore Circle, all of the other neighborhoods have strong HOAs that make sure everything stays well- maintained. And there is an HOA that serves the whole of the Biltmore, ABEVA, Arizona Biltmore Estates Village Association.

The two golf courses are owned by a company other than the one that owns the Arizona Biltmore Hotel.

The Biltmore is also the place of the Wrigley Mansion, built 1929-1932 by chewing gum money. At that time, William Wrigley, Jr. owned two sections, about twelve hundred acres, extending from Camelback Road to Squaw Peak and adjacent mountains and between 24th Street and 32nd Street.

That's the real estate homogeneity I speak of. It is much more financially predictable than mixed neighborhoods.

Now back to my preferred place, five miles south of Heartwood is a ten-thousand-square-foot mansion behind a several-acre manmade lake. The property is a bit less than two thousand acres. Between that mansion and Heartwood are several single- or double-wides of various age and improvements as well as several decent but modest single- family homes on tiny to large acreage.

That is mixed, non-homogeneous real estate. Values are all over the place. It is anybody's guess what values will be in the future.

And frankly, my dear, I don't give a . . . .





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