Residents in the Rio Verde Foothills area of Scottsdale, Arizona are facing a major crisis as they have lost access to a guaranteed water supply. The snowcapped Four Peaks provide a beautiful desert view for the residents, but that is about the only positive aspect of living in the area at the moment. Many residents are finding that their home values are sliding due to the lack of water.
Cody Reim, a resident of the area, says that since he lost water at the start of the year, he has had to do laundry at his parents’ house and that he and his family are running the dishwasher once a week and using paper plates only. Reim says that his reserves are starting to run dry and that if the tank gets to a certain level, he will shut the valve off to the home and let the water go to the animals.
At least 1,000 residents were cut off from Scottsdale Water at the start of the year. The city warned residents for years, but short- and long-term plans were never secured. Lawmakers are now working with EPCOR on a long-term plan, all while residents hold onto hope that Scottsdale can facilitate a short-term deal with a supplier.
The cost of hauling the water to the remote area of far north Scottsdale is costing some residents a “second mortgage.” This is making it difficult for residents to keep their homes and is causing home values to slide.
Rebecca Schwegler, a realtor who lives in the Rio Verde Foothills and sells 80% of her homes in the area, says that in the past six months, about 75 homes that were listed in the Rio Verde Foothills have either canceled their listing or let them expire. She says homes in the area range anywhere from $400,000 to over $1 million. Some of those homes are reducing their prices by tens of thousands of dollars after the area made national headlines for their lack of guaranteed water.
If the water crisis doesn’t find a solution quickly, this home value trend could continue to dip, especially as temperatures rise. This is a major problem for residents of the area, who are already dealing with the stress of not having a guaranteed water supply. They are now also having to worry about their home values sliding and the possibility of losing their homes.
The residents of the Rio Verde Foothills are urging lawmakers to find a solution to the water crisis as soon as possible. They are also urging the city of Scottsdale to facilitate a short-term deal with a supplier to ensure that residents have access to water in the meantime. It is a dire situation for the residents of the area and one that needs to be addressed as soon as possible.