Silverleaf Enjoys Success in Scottsdale Luxury Golf Market

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(SCOTTSDALE, AZ) - The Phoenix-Scottsdale area, much like other Sun Belt markets in Florida, Las Vegas and Southern California, has struggled to work its way out of a softening real estate economy. For one Scottsdale-based developer, though, the luxury real estate market hasn't missed a beat.

For example, during the first half of 2008, sales at the upscale master-planned community of Silverleaf topped $107.6 million - nearly 80 percent of the community's total sales for all of 2007, which were $138 million.

"The economic climate may be shifting, but Silverleaf's quality and value remain consistent and exceptional," said DMB Associates vice president Brent Herrington, whose company is the developer of Silverleaf. "Home values are higher this year than last, and the community continues to exceed expectations. While we were pleased with our sales in 2007, we are, of course, thrilled to be seeing greater sales success in 2008."  

Indeed, Silverleaf has been a ray of sunshine in the Valley of the Sun. According to DMB, resale estate homes and vacant homesites in Silverleaf have sold for $1.77 million to $8.2 million this year, establishing itself among some of the highest home values in the Valley.  DMB attributes this appreciation to the community's enduring value, unparalleled lifestyle and sense of place.

"Since opening in 2004, Silverleaf has been a much sought-after address," Herrington said. "It's a place that artfully mixes thoughtful planning and design with outstanding amenities, all against a striking mountain backdrop. We believe the unmatched Silverleaf lifestyle and the overall sense of community are what consistently generate interest among home-seekers."

Silverleaf is a private, gated enclave of custom estate homesites and classically designed neighborhood tucked into the canyons of the McDowell Mountains. Among its array of first-class amenities are a Tom Weiskopf-designed 18-hole golf course and  50,000-square-foot private club and spa

As part of the award-winning development of DC Ranch, Silverleaf comprises five distinctive neighborhoods: the custom estate homesites of Upper Canyon and Horseshoe Canyon; the smaller custom homesites of Arcadia; and the exquisite home designs of The Parks and The Sterling.  Each neighborhood is defined by its gathering spaces, topography, view corridors, and home and homesite product offerings.  

At build-out, the community will feature about 700 homes on its 2,000 acres. Price points range from the $800,000s to more than $11.5 million.

DMB, one of the leading developers of private golf and country club communities in America, is a diversified real estate investment and development firm with real estate holdings comprised of residential communities, commercial developments and golf course properties primarily in Arizona and California. Since its formation in 1984, the Scottsdale company has developed numerous highly acclaimed private golf course communities, including Glenwild in Park City, Utah, Lahontan in Truckee, Calif.; Desert Highlands and DC Ranch in Scottsdale, and Forest Highlands in Flagstaff, Ariz.