7718 E Golden Reef Road, Cave Creek

$2,900,000

3 Beds
2 Baths
2,800 Sqft
5.99 Acres
0 Garages

A generous price adjustment of $ 680,000 on a gorgeous private and hidden valley with PREMIERE WATER SOURCE--amazing artesian wells bubbling out over 11,000 gallons of fresh water from the mountain daily, nurturing a bountiful Eden of over 50 fruit & nut trees, terraced gardens w/ paths lined by rose bushes and ivy. ALL PATENTED LAND The historic Golden Star Ranch, minutes N. of Cave Creek, where the Golden Reef Mine was located. The charming and rustic land, surrounded by preserve and gov't land, was just used as a location for a motion picture! Gated & private, and a number of luxury homesites have been identified, in addition to the residence there now. Includes stables, climate-controlled casuta bunkhouse. See the video tour! Extra 40 ac of land by separate purchase avail. Purchase includes the parcel with the home, APN # 202-99008H, land parcels 202-99-008G, and 202-17-029. The bunkhouse, used for a casita, is air conditioned and heated also.
Here's the takeaway from the recent news story this week from the US Geological Survey. The Colorado River is going to be much drier than thought and millions of people will be affected.
Here's why:
Between 19905 and 1922, when allocations were given out to states bordering the Colorado River, tree ring studies by the University of Arizona, have shown these were extremely wet years, and the water was over appropriated.
Further, they didn't take in account evaporation from the future Lake Mead, use by plants and the future guarantee to Mexico in 1944, of millions of acre feet of water.
Now, Lake Powell and Lake Mead are over half-empty, the river flow is dwindling . The region is stuck in a 19 year drought, the worst in 1,250 years. And the tree ring studies indicate these dry periods can last 1,000 years. Some scientists doubt the lakes will ever be full pool again.
Lake Mead is getting dangerously close to the level that triggers mandatory water cutbacks to lower Colorado basin states when Tier 1 water restrictions kick in. Level of the lake is now 1,096 ft. Mandatory cutbacks start when it hits 1,075 feet (above sea level) Below 1,050 ft., Hoover Dam may not be able to generate electricity. Worst-case scenario is the drop below 895 ft. Water can no longer pass through the dam, the dreaded "dead pool" scenario. Since Arizona gets 40% of its water from the Colorado River, a wise land investor would do well to consider land like this that "makes" its own water.

Essential Information
MLS® #5993430
Price$2,900,000
Bedrooms3
Bathrooms2.00
Square Footage2,800
Acres5.99
Year Built1972
TypeResidential
Sub-TypeSingle Family - Detached
StyleRanch
StatusActive
Community Information
Address7718 E Golden Reef Road
CityCave Creek
CountyMaricopa
StateAZ
Zip Code85331
Subdivision

Hidden and Secret Ranch of Patented Land, loaded with water!

Amenities
UtilitiesAPS, City Electric
Parking Spaces2
PoolNo Pool
Amenities

Gated Community, Horse Facility

Interior
Interior FeaturesOther (See Remarks)
HeatingElectric Heat
FireplaceYes
# of Stories2
Cooling

Ceiling Fan(s), Both Refrig & Evap

Fireplaces

Fireplace Living Rm, 1 Fireplace

Exterior
ExteriorPainted
Exterior FeaturesPatio, Private Street(s)
RoofComp Shingle
ConstructionFrame - Wood
Lot Description

Mountain View(s), Hillside Lot, Street(s) Not Paved

School Information
ElementaryBlack Mountain
MiddleCactus Shadows
HighCactus Shadows
District

093 - Cave Creek Unified District

Office

Russ Lyon Sotheby's International Realty

Property History
Price Reduced from $3,580,000 to $2,900,000
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Listing information last updated on March 30th, 2020 at 5:36am MST.