Phoenix Equestrian Home Sells for $1.5 Million by Russ Lyon Sotheby's Local Ahwatukee Agent

Scottsdale, AZ, July 11, 2010 --( Local Ahwatukee agent believes this could be the beginning of a turn-around in Awhatukee high-end luxury home market.

In the worst high-end real estate market in Ahwatukee's short history there are signs of a revival. A beautiful 6,400 square foot 5 bedroom & 7 bathroom home located in the Ahwatukee Equestrian Estates Subdivision recently sold for $1,500,000 on June 9th, 2010.

Ahwatukee high-end real estate transactions have been especially hard hit in the economic downturn with 13 homes currently listed in MLS over $1,000,000 in the area.

The home was listed and sold by Frank Aazami and Chey Castro of the Russ Lyon Sotheby's Frank Aazami Private Client Group. Castro has a particular affinity for Equestrian Estates having grown up in Equestrian attending Los Lomas Elementary School, Centennial Middle School, and graduating from Mountain Pointe High School. His father was one of the first residents in Equestrian buying in the original lot offering in 1980 and building his custom home in 1983.

"It really has been a roller coaster ride over the years having witnessed firsthand the surge in home values and more recently the flood of listings and decline in home equity in Equestrian," says Castro. "Although I feel the high end market in Equestrian is firming up and there are great opportunities as buyers and investors are recognizing a window of basement luxury pricing in an area totally unique to Phoenix."

The sold home has a resort style setting and sits on just under ¾ of an acre and offers mountain and city light views. The home was recently remodeled and features a theater room, pebble-tech pool, waterfall, grotto hot tub, separate guest quarters, solid oak cabinetry, 30' ceilings blending into an artistic 'winding stairway' and a 4 car garage.

Castro currently is an agent under Russ Lyon Sotheby's Scottsdale Waterfront Office and expertise is in realty for both purchasing and listing properties in Equestrian Estates, Silverleaf, DC Ranch, Paradise Valley, and North Scottsdale. The Frank Aazami Private Client Group currently has 23 listings over $1,000,000 - the highest priced listing being $13,500,000.

To learn more about Frank Aazami and Chey Castro.please visit their websites: and or at

Media Contact: Chey Castro

Russ Lyon Sotheby's International Realty
Chey Castro