Posts by : Wally Reule

As promised, here is another home that we are representing, and this one is a beauty. The finishes and attention to detail in this home are remarkable and the views are amazing.

120 Munds Mountain Tr
Sedona, AZ

MLS# 509509 - Residential

Finally, a home that satisfies every aspect of the word "luxury". Backing to Nat'l Forest, this home is as warm & charming as it is breathtaking. Walls of glass give unobstructed views to towering red rocks. Enjoy the magic of area wildlife & dramatic sunsets in front of a kiva fireplace or take in a 360 degree view from roof top deck. Features include plaster walls, flagstone floors, art niches with inlaid turquoise, custom leaded & stain glass, ...

In my last entry I promised that we would be soon bringing some great new homes to market. Well. here is one that we are really proud to represent; It is a beautiful home that offers privacy but is still only a few minutes from West Sedona.

75 Cimarron Ridge Drive
Sedona, AZ

MLS# 509492 - Residential

Located off of scenic Red Rock Loop road this southwest treasurer embraces all the reasons why people celebrate living in Sedona. Old-world Spanish gates open onto an enclosed court yard where blooming trees, desert plants & a calming water feature invite you to sit. Red rock views captivate you from the walls of glass gracing the interior. Lush Junipers & Cottonwood trees provide to...

Jan and I have been very busy bringing new properties to market lately, so stay tuned for some great homes. This one is perfect for someone looking for a spot to build a small retreat, and be sure to bring your horse!

260 Mockingbird
Sedona, AZ

MLS# 509469 - Land

For horse lovers or individuals who want to be close to Sedona and yet tucked away to do their own ''thing''---search no further---you've found your land!!! Cradled in the backdrop of one of Sedona's red rock outcroppings you'll find beautiful native plants, trees, and an easy-to-build-on piece of land. Home could be positioned on slight elevation at center of property which would provide magical panoramic views on at le...

This was the projection made by Jonathon Smoke, chief economist at Realtor.com. He suggests that continued low interest rates and an improving job market will lead to the sales of 5.4 million homes, up 3% from last year and the best since 2006. As i've reported before, demand has outstripped supply for a few years now, and new construction may be narrowing that gap.

As I reported last week, the band Chicago kicked off the Sedona International Film Festival, and they were great! They played in the Sedona Performing Arts Center, which seats 750, so there wasn't a bad seat in the house. The band still includes four of the original members, and they've still got it. What an evening.

Two weeks ago I wrote a blog about a beautiful condo in Morning Sun that we listed, and said that it won't be on the market for long. And that was the case! In 12 days we had an accepted offer. When good homes are priced right in Sedona, they are snapped up pretty quickly.

This Friday and Saturday the iconic rock band CHICAGO will put on shows at the Sedona Performing Arts Center. These concerts will be a part of the Sedona International Film Festival, and will support the festival which is featuring a documentary on the band. We're excited and Jan and I will be there to rock on and relive old memories.

I just read an article in Realtor.com about VA backed mortgages, and being a veteran myself, I was happy to see that their popularity is increasing, and the product itself is getting better. More VA loans were closed in 2015 than in any other year. And, in every month of 2015, VA loans had the lowest average 30 year fixed rate and the highest closing success rate among the three major loan types ( VA, FHA and conventional). Follow this link in order to read the whole article.

I recently wrote a blog saying that a good real estate agent cannot be replaced by an app. The gist of that was that homes are not commodities. Each has its own set of unique features, including buyers and sellers who are human. I just came across something written by the Sedona Luxury Real Estate Professionals (SLREP) group, which further supports the point that I was making in that previous blog. Here it is:

"Sedona Luxury Real Estate Professionals members aspire to a higher level of education about house construction, materials and finishes, systems and appliances, design trends and other details significant to function, value and desirability of property. This knowledge helps a buyer...

Another one of our listings just went under contract. This one is in the Amante neighborhood, located on South Santa Fe Trail. The Buyers and Sellers are both delighted, which is why we enjoy doing this so much.

Here is a beautiful condo in desirable Anasazi Village that we have just listed for sale. The upgraded finishes make it really shine, and it won't be available for long.

32 Tanager Lane
Sedona, AZ

MLS# 509098 - Residential

Centrally located in the heart of West Sedona, within walking distance of hiking trails, Sunset Park, grocery shopping, & restaurants is the perfect lock-&-leave condo. This lower level end unit has no stairs & it's large private patio, bordered by native trees, shrubs & arroyo, provides a front row seat to watch birds & wildlife. Unit has been updated with high-end kitchen appliances, alder cabinetry, & interior combo laundry/storage area. Bedrooms & garage ha...

The real estate market in the Verde Valley is off to a slow start in January 2016. The number of homes that closed in January was actually up 4%, but the number under contract declined by 13%. Part of the problem is that the inventory of active listings is 14% lower (769 last year compared to 657 this year) than it was a year ago, and it was low then. The good news is that more new listings came on this January than last January. The jury is still out on how strong our market will be in 2016. As one analyst said, he is slightly more cautious in his optimism than he was at the beginning of the month.

The answer to this question is "Maybe." Obviously, if you want to sell a home quickly, it should not look like a "project" to a potential buyer. That's especially true in Sedona where the median sales price for a single family home is around $440,000. For that amount of money, most buyers expect that the home will be basically move in ready. Also, the average return on money invested in remodeling is 50 - 80%, so the reason to do it is not to net more cash at closing, but to actually have a closing. Think about it from the perspective of the buyer, and invest wisely.

I know! I know! When the Federal Reserve finally raised interest rates, mortgage rates were supposed to follow. But they've actually gone down for the last four weeks in a row, and are under 4%. How is that possible, you say! Well, blame it on the stock market woes. When stocks tumble, as they certainly have, investors rush to the safety of federal bonds, which of course, lowers the yield. So it's still a great time to finance or refinance your home. Go figure.

If you're thinking about building a home in Sedona, whether it be this year or five years from now, this is a great time to buy the land. It's a buyer's market, and there are some amazing deals to be had. After an uptick in prices and sales in 2013 and 2014, this past year showed a nearly 20% drop in the number of sales, and a drop in the median sales price of 12%. However, because demand for homes is high and inventory is low, you can expect that to turn around.

After a slow holiday season and beginning of the year, we are really ramping up again. Look for six new listings that we will be bringing to market in the next couple of weeks. They will range from $350,000 to $1,400,000, so we will have something for nearly everyone!

Why should you work with a Realtor, rather than an app that will do all of the paperwork for you? Well, if you consider your home to be a commodity, the same as every other home in every other neighborhood, and human beings are not involved in the selling or buying, then an app should work just fine. But in the real world, that's never the case. So be sure to work with a Realtor who is more than just a facilitator. Here's the bottom line: Realtors who can only facilitate a normal transaction are replaceable cogs in a process. Counselors with education and knowledge who are experts in exception — unique problems, irregular negotiations and last-second emergencies — cannot be replaced by an...

It was another great year for Jan. Not only was she named Best Real Estate Agent in the Kudos Peoples Choice Awards, but she also finished again in the top 20 for home sales of all Sedona Verde Valley Agents. At number 14, that puts her in the top 2%. The bottom line is that Jan is great at matching the right buyer with the right home, and it shows in the results. Way to go Jan! 

In a nutshell, the real estate market is Sedona was unremarkable in any way. Home sales were up 4% from the prior year, the median sales price rose 2% to $437,000, and the average price per square foot increased 1% to $217. Inventory remains very low, with only 233 active listings as we enter the new year. For for more information as well as the scoop on luxury homes and vacant land, click here.

Following up on the information I posted last week, the following charts show the breakdown on the number of Sedona homes sold by size and age. As you can see, very few homes under 10 years old were sold. The demand is there, but not many homes were built from 2007 until the last couple of years. To see the whole report for 17 Arizona cities, click on this link.