| New market for old homes |
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By Karen Michelle Sarver In the current Phoenix real estate market, with more than 13,000* properties for sale, home buyers can get “more bang for their buck” by purchasing a historic house, said a local real estate agent. “People love history,” said Trey Martin, a Realtor with Prudential Arizona Properties, “and that’s why you’ll get premium value for historic homes.” An April 7 Wall Street Journal article, “Selling History by the Square Foot,” supports Martin’s opinion. The article’s author, Christina S. N. Lewis, wrote that some home developers, in an effort to boost sales, “are creating historic-style communities with houses that look like they were built as long ago as the 17th century.” Lewis added, “Builders are betting that some people will pay more for the look of history.” “I’ve always liked the uniqueness, the personality of a historic house rather than a cookie-cutter style,” said Eva Proa, who owns two houses—a 1928 Southwest style and a 1944 Ranch style—in central Phoenix’s historic Woodlea-Melrose District (bounded east to west by 7th and 15th avenues and north to south by the Grand Canal and Indian School Road). Proa, who has lived in the neighborhood since 1990, said she prefers the “creaky floor and the squeaky door” of the old house to the “bleached white” walls of the new. A central location is another benefit of living in a historic neighborhood, residents and real estate agents said. Martin, who has sold homes in the Woodlea-Melrose neighborhood, said the area is a good investment because “it’s about a mile away from the Light Rail, 15 minutes from the airport and 10 minutes from downtown.” “We’re close to all the culture downtown: the library, the museums, the First Friday Art Walk—everything,” said Pat Bennett, a Woodlea-Melrose homeowner since 2004. A short commute can also mean reduced gas consumption and less pollution. But historic home ownership is not for everyone.  Homes in Phoenix’s 35 historic districts remain a hot commodity despite the cooling housing market. Also remaining “hot” are historic home tours, which abound during the city’s more temperate months. This Tudor-inspired home located in the historic F.Q. Story District will be featured on the annual home tour next month (submitted photo). Martin said that because many of the houses have two bedrooms and one bathroom, and range in size from a cozy 900- to 1100-square-feet, buyers of historic homes are likely to be limited to single people or younger couples without children. “People now want more bathrooms, more space,” Martin pointed out. Plus, All additions must be approved by the Historic Preservation Office. “That’s probably the biggest negative,” Martin added. Realty Executives Realtor Bradley Brauer, who specializes in the sales of historic homes, said that older homes are built better than newer homes. But he recommended potential historic homebuyers use a home inspector. “And don’t hesitate to inspect completely,” Brauer advised. Phoenix has 35 residential historic districts. The oldest homes—dating back to 1883—are located in the Garfield District, roughly bounded east to west by 16th and 7th streets and, north to south by Van Buren and Roosevelt. The newest of the historic houses, built between 1945 and 1959, are in Encanto Manor, bounded by Thomas Road and Windsor, and 7th and 15th avenues. The best-selling districts, Brauer said, are Willo, Coronado, F. Q. Story and Encanto-Palmcroft. For more information on Phoenix’s historic home districts, contact the Historic Preservation Office at 602-261-8699. Editor’s note: Karen Michelle Sarver is a journalism student at Arizona State University.
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