I live in the Biltmore Cooridor of town and absolutely love it. The location is central to everywhere in town. It takes my husband 20 minutes to get downtown in the morning traffic...which is great! The area tends to have a lot of snow birds (people who live here in the winter) but the four years that I've lived here, the neighborhood has begun a cycle of a bunch of young families moving in. One of the reasons, I hate to say, is that a lot of the older people who did live here have passed on. However, this has created this great niche right in the middle of town. I'm not sure of your budget but the area tends to be a bit on the expensive side. If you can afford it...it's the best! A little qualifier on me, I've lived in the valley for about 16 years with a short 3 year break where I moved to San Francisco.
The schools are the Madison School District which has a great record and great schools. Many people move into this area just to go to these schools. I have a 15 year old daughter, 13 year old daughter, and an 18 month old son. My eldest daughter got into one of the IB Programs for high school and we are all really happy. The school is very diverse and poses a challenge to her high acedemic abilities. My 13 year old is very advanced and some of the teachers have not challenged her as much as I've wished but my overall experience has been good. One of the best Pre-K through 12 grade is Phoenix Country Day School. This is a private school and expensive but worth the money if you can afford it. They out rank all of the schools in town. Naturally, this makes it a bit harder to get into. I did a lot of research when I moved back to the valley and the Madison School District out ranked most public schools.
When we looked for a home it had to meet these requirements:
Good schools 4th grade through 12th grade.
Quiet neighborhood off busy streets...no street traffic
No more than 20-30 minute commute downtown
and then some but I guess they don't really matter to this discussion.
Anyway, we love this part of town and have no regrets. I can even get to Tempe within 20 minutes, North Scottsdale 20 minutes, and out to Arrowhead Mall within 30minutes. We are close to I-10, 51, and the 101.
Good Luck!