Old Town Scottsdale. It has a vibe like that of Beverly Hills. However, most homes south of Camelback go for much cheaper than a Mc Mansion. The appeal to this place is rooted in the glamor of the name “Scottsdale.” If for no other reason, people move and invest here simply because of that name.What’s interesting is that you will find most of the real money north of here. However, this is changing. A ton of high-end + high density apartment complexes have just been built around Fashion Square Mall.
This is likely due to the mix of great art galleries, shopping, night life, and high end restaurants all being in walking distance.
Most people in the middle and south of Old Town are single and generally successful. The more south you go, the more recent college graduates you will bump into; many of them ambitious and attracted to the almost Vegas-style nightlife Old Town provides.
The North and West side of Old Town generally has an older population. They are attracted to the easy living, the easy transportation, the shopping, art and overall quality of the area.
What Will Happen Next
I doubt there will be too much more large scale development for a couple of years here. This place should prove solid for multifamily holds due to a great supply of good quality tenants. More on this in the multi family section.For single family I am less confident. This is due to a number of factors and concerns I have about how this market progressed over this cycle. More on this in the single family home section.[ezcol_1half]Click here for more Single Family Info on the area and Current Listings[/ezcol_1half][ezcol_1half_end]Click here for more Multifamily Info on the area and Current Listings[/ezcol_1half_end]