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McCormick Ranch
McCormick Ranch was the last large ranch located in the City of Scottsdale. Merle Chaney sold the original 160 acres to Anne and Fowler McCormick in the mid-1940' to use primarily as a winter home. Fowler McCormick was the grandson of Cyrus McCormick, who invented the reaper, and was the President and Chairman of the Board of International Harvester.
Anne’s
main interest was raising horses, starting with saddle-bred Palominos
and eventually moving to Arabians. In order to have more riding area,
she started acquiring the adjacent land finally amassing more than
seven square miles on the Ranch. About 600 acres of that were utilized
for farming grain products.
The McCormick's also owned McCormick Park (now known as the McCormick Stillman Railroad Park), a 100 acre parcel of land located at the south side of Indian Bend Road and Scottsdale Road. In 1967, Anne donated the park, which at the time was valued at $1 million, to the City of Scottsdale.
Anne was active in all aspects of the ranch's operation, living on it from Thanksgiving to mid-April each year. She was responsible for bringing Arabian horses to Scottsdale and helped found the All Arabian Show.
Upon her death the horses and the ranch were sold. Probate was completed in July of 1970 with the sale of 4,236 acres to Kaiser-Aetna for $12,100,000 ($.05 per square foot). When Kaiser-Aetna purchased the Ranch, it was the country's largest single piece of property sold for a planned community within city limits. Today McCormick Ranch contains 3,116 total acres. Kaiser-Aetna sold the remaining undeveloped acreage to Transcontinental Properties in 1980. Transcontinental then sold 1,120 acres to Markland Properties. Today, those 1,120 acres are known as Scottsdale Ranch.
The McCormick's also owned McCormick Park (now known as the McCormick Stillman Railroad Park), a 100 acre parcel of land located at the south side of Indian Bend Road and Scottsdale Road. In 1967, Anne donated the park, which at the time was valued at $1 million, to the City of Scottsdale.
Anne was active in all aspects of the ranch's operation, living on it from Thanksgiving to mid-April each year. She was responsible for bringing Arabian horses to Scottsdale and helped found the All Arabian Show.
Upon her death the horses and the ranch were sold. Probate was completed in July of 1970 with the sale of 4,236 acres to Kaiser-Aetna for $12,100,000 ($.05 per square foot). When Kaiser-Aetna purchased the Ranch, it was the country's largest single piece of property sold for a planned community within city limits. Today McCormick Ranch contains 3,116 total acres. Kaiser-Aetna sold the remaining undeveloped acreage to Transcontinental Properties in 1980. Transcontinental then sold 1,120 acres to Markland Properties. Today, those 1,120 acres are known as Scottsdale Ranch.
Deals
of the Month per MLS Featuring
McCormick Ranch
7062 N VIA DE LA CAMPANA, Scottsdale: $449,900
Beautifully updated home with great curb appeal located in McCormick Ranch. This home features a remodeled center island kitchen, stainless steel appliances, designer cabinetry and a large pantry. The home is professionally landscaped with lush vegetation, beautiful brick pathways, and a large backyard with a fenced pool.
8832 N 85TH PL, Scottsdale: $625,000
This is a smartly remodeled home on the greenbelt with all the right elements. It has a large, 12,600 square foot lush backyard with pebble-tech pool, grass, and a large covered patio, and outdoor dining area. Inside are travertine floors, clean ceilings, suede walls, and updated bathrooms with custom mirrors with elevated sinks. There is a large pantry in laundry room and extra work or storage room in the garage.
McCormick Ranch
7062 N VIA DE LA CAMPANA, Scottsdale: $449,900
Beautifully updated home with great curb appeal located in McCormick Ranch. This home features a remodeled center island kitchen, stainless steel appliances, designer cabinetry and a large pantry. The home is professionally landscaped with lush vegetation, beautiful brick pathways, and a large backyard with a fenced pool.
8832 N 85TH PL, Scottsdale: $625,000
This is a smartly remodeled home on the greenbelt with all the right elements. It has a large, 12,600 square foot lush backyard with pebble-tech pool, grass, and a large covered patio, and outdoor dining area. Inside are travertine floors, clean ceilings, suede walls, and updated bathrooms with custom mirrors with elevated sinks. There is a large pantry in laundry room and extra work or storage room in the garage.
Mortgage Update:
It is not all doom and gloom. Many banks are still out there doing business as normal. When applying for a mortgage, use a company that has a bank behind them. This is whom you will want to do business with. A good example would be Wells Fargo.
Interest Rates:
30 yr. Fixed- 6.50% with no origination fee.
30 yr. Fixed- 6.25% with 1 origination fee.
15 yr. Fixed- 6.25% with no origination fee.
15 yr. Fixed- 6.00% with 1 origination fee.
• Foreclosures have
doubled since 2006. Fewer investors made bids on foreclosure properties
in July. Roughly 85% of foreclosed homes in the valley went back to the
lender. This is due to more is owed on the home than the home is worth.
Neighborhoods have been hurt due to foreclosures. Vacancies lead to
declining home prices, which can affect the strength and stability of a
community. City officials, such as the Health Department, have become
busy with phone calls regarding vacant properties.
Real Estate Update
• Home listings in the valley have climbed to almost 55,000 in the past few weeks.
The medium home price for July was 265,000 with square footage around 1,750.
• Our market is still moving, believe it or not. Well-qualified buyers have a huge inventory to choose from and sellers are still able to sell at a great price.
• Please pass this newsletter along to a friend and if you know if anyone looking to buy or sell have them contact me. Referrals are the highest compliment.
• Our market is still moving, believe it or not. Well-qualified buyers have a huge inventory to choose from and sellers are still able to sell at a great price.
• Please pass this newsletter along to a friend and if you know if anyone looking to buy or sell have them contact me. Referrals are the highest compliment.
McCormick Ranch
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Next month I will be featuring the town of Paradise Valley.
