We all know the most significant factor impacting property value is location, which is why Scottsdale is more expensive than Buckeye.
However, location, from the standpoint of value, is no longer only about a physical place. It also is about the amenities contributing to the desirability of that location.
Take Kierland, for example. Before Kierland was built, it was just flat vacant land in North Scottsdale, near the Scottsdale Airpark. There weren’t any significant amenities making the property in that area more valuable than vacant land 20 miles away.
Fast forward to now. The Scottsdale Road corridor, from Cactus north, to the 101, has become incredibly vibrant, with an array of retail, restaurants (including six Fox RC restaurants and still not one in Mesa), movie theaters, offices, hotels, housing and special events, including Barrett Jackson and the Phoenix Open. The location is thriving because it is vibrant, multi-generational, and the community partners in the area are vested in its success (in other words, they see that vibrancy is profitable).
We believe Northeast Mesa is one of the most undervalued areas of the Valley. We have fantastic properties, ranging from luxury hillside estates, to golf course homes and citrus lots, to horse properties. We have great planned communities and incredible infrastructure with the Loop 202 providing rapid access to Phoenix Sky Harbor International Airport, Mesa Gateway Airport, Gilbert, Tempe, Chandler, Phoenix and Scottsdale. So, why is Mesa so undervalued?
In the last 12 months, nine of our Mesa clients sold their homes and moved to Phoenix, Gilbert and Scottsdale. The No. 1 reason they each left was because of the lack of vibrancy and amenities in Mesa. They felt there weren’t enough restaurants, enough activities or enough shopping opportunities.
There is a solution. We know it will take time for those amenities to arrive here. In the meantime, we decided to try to boost Mesa through the creation of Mesa Food Truck Fridays. Our initial hope was to create a fun way for neighbors in Mesa to gather on a regular basis. However, when we saw the incredible turnout at the first event in September, we knew Mesa Food Truck Fridays was about more than just food. Mesa Food Truck Fridays is about showing the world that vibrancy does exist in Mesa. We are multigenerational, we want great food, and we have money to spend on retail and entertainment.
The time has come to break the stereotypes of what Mesa is, and come out in force to show the world who we really are and what we want for our city.
John Karadsheh is the Designated Broker for KOR Properties. He has been a Multi-Million Dollar producing agent for more than 12 years, and is an Accredited Buyers Representative (ABR) and Certified Residential Specialist (CRS). In 2014, John was voted the No. 1 Real Estate Agent in Arizona by Ranking Arizona. You can reach John at (480) 568-8684, or visit his website at KORproperties.com.
KOR Properties is creator and one of the founding sponsors of Mesa Food Truck Fridays.