Paradise Valley, Arizona
The town of Paradise Valley is 16.5 square miles and was incorporated in 1961. Although the town encompasses a small area it includes 12 beautiful, luxury resorts. Paradise Valley is exclusively single family homes. No multiple housing units are permitted. The average home in Paradise Valley is estimated to be worth between $1.7 and $2.3 million dollars, making Paradise Valley one of the most expensive places to live in Arizona.
Paradise Valley offers beautiful golf courses, hiking trails, mountains, and a well-established community of residents. Because Paradise Valley has some of the top resorts in the nation, it continues to thrive on tourism. Paradise Valley is home to many entertainers, sports figures and other well-known people. Purchasing Real Estate in Paradise Valley does come with a price tag, but is definitely worth the investment.
Buying Real Estate in Paradise Valley
Paradise Valley attracts many home buyers because of its sheer beauty. Most of the homes in Paradise Valley reside on large lots with well-manicured grounds and custom built homes. Paradise Valley’s landscape has mature trees and plants, making it a very unusually greener area then its surrounding cities. Many home buyers also seek to live in Paradise Valley because of its renowned golf courses and mountainous views.
Real Estate prices in Paradise Valley currently start at $525,000 for 1,978 square feet. Prices for homes are as high as $27 million. This past year the average sales price for a single family home in Paradise Valley was close to $2 million and as high as $12,750,000.
Paradise Valley Land and Buildable Lots
Paradise Valley extends from Shea Boulevard to Camelback Road, north and south; and 32nd Street and Scottsdale Road, east and west. Paradise Valley is very much an upscale and well-established community with plenty of wildlife, greenery, and terrific views. Most of the homes in Paradise Valley sit on a 1 acre or more lot. There is still plenty of land available in Paradise Valley to build on.
Commercial Real Estate in Paradise Valley
Commercial Real Estate in Paradise Valley is scare. In fact, there really isn’t much. The town does not allow any land use other than residential without a Special Use Permit. Medical plazas, office spaces, and shopping malls are found just outside of Paradise Valley in both Scottsdale and Phoenix. The town is devoid of most commercial real estate, and takes much pride in this fact.
Paradise Valley Documents
Paradise Valley is unlike other towns/cities in Arizona. It does not collect property taxes from its residence. Instead the town makes its revenue in several ways. The states sales tax, income tax, gasoline taxes, the town’s sale tax, bed and use taxes, permit fees, annual franchise fees from utilities and interest from investments are all used for town revenue. In past years the town’s municipal court has raised money through tax exempt bonds to build things like a police station or make improvements to existing structures.
Growth and Development
The town of Paradise Valley began its foundations in 1961. Over time the residents began building luxury homes on one acre or more lots, with rich landscaping, upscale resorts, and relatively few businesses. Soon the town became known as one of the most prestigious places to live. As the surrounding areas grow and new developments and roads begin to pop up, Paradise Valley remains devoid of these activities and continues to preserve the quality of life its residents have come to demand.
Since Paradise Valley is zoned for single family housing and no apartments, condominiums, or town houses are allowed, as well as severe limitations on commercial real estate building, property values are among the highest in the state. As a result of these factors, the future of Paradise Valley will be only to make improvements upon already established structures, roadways, and other necessities, and no further development is in the plan for the future of the town.
Key Characteristics of Paradise Valley
- Zoned only for singe family residence, therefore making real estate property values high
- Homes sites are 1 acre or more
- Plenty of land still available for purchase
- Boasts sensational views, well-manicured landscapes, and natural preservation
- Commercial Real Estate is only authorized through a Special Use Permit
- Multi-million dollar estates and upscale resorts and country clubs
- Largest percentage of college graduates in the metropolitan area
- Crime is virtually non-existent
- The town offers 2 libraries, 16 parks, 2 swimming pools, 5 golf courses and many playing fields and tennis courts.
- Host to world famous spas
- Various mountain preserves with both hiking and biking trials
- Entertainment and shopping within minutes