Experience with Scottsdale market?

[Brandon Bellino]

Hey, just curious if anyone has any experience buying/investing in the Scottsdale AZ market? I'm not asking because I want to invest there, I'm just curious about it. Since I started getting interested in real estate investing years ago I've heard Scottsdale being mentioned a ton, so just want to learn more about it and get hear some of your insights, experiences, stories, anything really. 

From what I've seen and read Scottsdale seems to be a pretty luxury real estate oriented area when it comes to their real estate market. I've noticed the Toll Brothers has a really big presence there, and builds tons of homes. What I'm wondering is, how does anyone make any money building homes/developing/investing in the market there when it seems to be so saturated? Just from looking on Zillow there were literally hundreds and hundreds of homes listed for sale in the city, rivaling even Manhattan. Or are there really that many people that want to move and live there? Or are all these homes just sitting on the market? 

What makes the area attract so much money and development? Is there a certain type of job industry that is there that fuels it? Or is it just one of those places that's been labeled "the" place to live if you have a lot of money, like Beverly Hills? 

If anyone has any stories to share of what it's like to investing, work, live, whatever, there I would love to hear it. I'm very curious.