Posts by : Wally Reule

Below is price information for homes in Sedona. This shows that in the second half of 2015, the number of new listings decreased while the median list price increased substantially. If you are looking for a home over $600,000, you have a lot of good choices. As you can also see, the number of homes sold for $400,000 - $550,000 was lower that homes priced above or below. The demand is there, but not the inventory. I will post more 2015 statistics in the next few days.

A few days ago I posted the standards that members of the Sedona Luxury Real Estate Professional adhere to with regard to buyers that they represent. Jan Bigelow has been a member of this exclusive group for five years, and embodies these standards. Below are the commitments that members make to Sellers that they represent.

We have posted information before on the benefits to buyers of working with a member of the Sedona Luxury Real Estate Professionals Group. This Association is comprised of 26 of the top real estate agents in Sedona. Jan has been a member for the past five years and exemplifies the standards stated below in the recent update.

Here are four very good reasons to buy a home in 2016:

1. The rate of price increases is expected to slow to about 3.5% next year
2. Inventory of homes on the market is expected to increase. One of the major factors that has limited home sales in Sedona is a shortage of good inventory. When a home that is priced well, is in good shape and has great views comes on the market, it doesn't last very long.
3. Mortgage rates are likely to increase as the year goes along, creating a new sense of urgency.
4. Rents will continue to rise, making home ownership more attractive.

Yes, it's true. On Friday, December 4, there is be a tree lighting event in Uptown, and the city has made arrangements to a special visit by Santa Claus. And then on December 12 we will kick off the Festival of Lights at Tlaquepaque. The holiday season is a great time to visit Sedona.

Google has announced that they are now in the business of helping to find you a mortgage. As a license mortgage broker, they will not actually fund the mortgages, but will aggregate quotes from local and national partners. Right now this service is only available in California, but they plan to expand to other markets. To read the full article click on this CNN Money Article link.

As you know, the market for new homes continues to get stronger, and in fact,new starts are now at their highest level since 2008. But according to a recent article in CNN Money, the homes that are being built now are different than those built in 2008. For example, they are larger and have more bathrooms. In order to see the whole article click this CNN Money Article.

The real estate market in Sedona has been very stable. The number of single family homes sold in the first ten months of the year is up 3% from prior year, and the median price is up 2%. While the demand for Sedona homes is high, there is a shortage of good inventory. Homes that are well priced are selling quickly, and those that are priced over market are not moving. Nothing new about that! For more detail refer o the Market Statistics page on our website.

Sedona's claim to fame is based on the natural beauty that we all enjoy. And, of course, it's very important to us to protect and preserve that beauty. In that spirit, the group Keep Sedona Beautiful proposed that much of the Verde Valley seek Monument status from the federal government. They felt that this would provide strong protections from unwanted and uncontrolled development. The Sedona Verde Valley Realtors Association took a position that there are better ways to protect Sedona, and after spirited debate, the City Council voted not to support the effort.

The new guidelines mandated by the Dodd-Frank Act are good protections for consumers, but they do add quite a bit of time to a residential transaction, if it is to be financed. The days of the thirty day close are history, and you should now count on 45 days from date of acceptance until close of escrow.

Here is our latest listing. This is a beautiful home on the golf course has great panoramic views, high quality finishes, and a SOLAR energy system that brings the electric bill way down to practically nothing. Contact us if you'd like to see it!

760 Golf View Drive
Cornville, AZ

MLS# 508281 - Residential

If you are looking for a "gem" of a home, located on a golf course, in an upscale, gated, 55+ community - then your search is over. Breathtaking panoramic views of the golf course and the Mingus Mountains greet you from a beautifully landscaped back yard with paver patio and a spa. This move-in ready home features quality finishes inside and out. Loads of custom cabinetry will g...

As you probably already know, Sedona is no stranger to special recognition for its natural beauty and hospitality. I have reported several times on awards that Sedona has received, including the Most Beautiful Place in America from USA Today. In my never ending quest to provide you with even more reasons to visit Sedona, I eagerly awaited the announcement of the best beer towns in America, only to have my hopes dashed. Sad to say, we did not make the top ten. However, I was able to get some solace from the fact that number one is in my home state of Michigan. Traverse City took home the top honors with an Oktoberfest Index of 100! To see the full list, go to http://money.cnn.com/gallery/r...

It's been nine years since the Fed raised interest rates! How much has happened in that time? Well, for one thing, the housing market has gone through boom times to bust, and back to boom. But the Federal Reserve is making not so subtle hints that the economy is strong enough to stand an interest rate hike, and it may be just around the corner. But there is still time to take advantage of historically low rates to purchase your dream home on beautiful Sedona. Call us to help with your Sedona Real Estate questions.

There are several ways to look at real estate appreciation, including Average Sales Price, Median Sales Price, Average Price/Sq ft and Median Price/Sq ft. Ah, but which one to use. Here are some guidelines.

Average sales price tends to give too much weight to luxury home sales while median sales price does the opposite, giving too much weight to the cheapest homes. Our favorite is average sales price per sq ft. Though not perfect by any means, it is usually the best compromise solution.

You then need to determine what period of time you will take your measurements over: 1 month, 3 months, 6 months , 12 months, etc. Short periods tend to give you very large variations from month to month...

This home has been repriced to sell quickly. Located in the Village of Oak Creek, withing walking distance of amenities, it would alos make a terrific rental.

100 Horse Canyon Drive
Sedona, AZ

MLS# 506519 - Residential

If you are looking for a peaceful, friendly neighborhood this 2 BR split design, single level home with open floor plan needs to be at the top of your list. Owner has made several important improvements including a new roof, paint (exterior & interior), a skylight & new toilets. This home lives "big" with it's wood burning stove in the great room, cathedral ceilings, & heated & cooled Arizona room (now being used as an office). Step through sliding glass doors from...

The owners have told us that they want to sell this creek front lot NOW, so the price has dropped from $295,000 to $210,000. If you've been thinking about building in a great Sedona community, this is an opportunity you won't want to miss!

365 Cross Creek
Sedona, AZ

MLS# 505464 - Land

Creek front property in AZ's high desert, in a gated community with acreage & red rock views is RARE!! This property has what most new home buyer's to Sedona want on their "must have" list, i.e. creek front access, privacy, views & easy access to hiking trails. Underground utility wires protect the pristine nature of this area. It's only a short 10-15 minute drive to Sedona or Cottonwood & all the a...

Here is our newest listing, beckoning you to a great new life in the Verde Valley.

696 S Santa Fe
Cornville, AZ

MLS# 507860 - Residential

This 2 bedroom with den (or possible 3RD bedroom) lives "big" with an open floor plan that make 1727 sq ft feel like 2000+. Master Bdrm is a private suite, with HUGE walk-in closet. Natural light from large windows in combined kitchen, dining, & living room area creates a central living theme. Kitchen is made for someone who needs plenty of cabinets, an over-sized pantry, generous counter space & island prep area. Take advantage of the breakfast bar for quick meals or entertaining. Enjoy magical panoramic views from large covered patio. Low mai...

Here is our newest vacant land listing for a lot with incredible views. If you have questions or would like to see it, please call.

73 Meteor
Sedona, AZ

MLS# 507862 - Land

This gently sloped, hilltop lot showcases the highly coveted, panoramic, red rock views to the North & East. Take advantage of the low maintenance, lush landscaping that nature herself provided as native Juniper trees & stunning Manzanita bushes cover the property The red rock views are jaw-dropping and you are within walking distance of restaurants, fine shopping, & access to the National Forest hiking trails. This centrally located lot has been surveyed, staked accordingly, and conceptual home renderings are ...

Jan has been named the winner of this years Kudos Readers Choice Award for Real Estate in Sedona. It's quite an honor to be selected from the hundreds of real estate agents in the Verde Valley, and she will continue to offer the high level of service that brought her this recognition. Click on the Choice Awards link to see all of the winners in other fields.

In the past most people have considered a reverse mortgage only when refinancing, but many of our clients are now using one to purchase a new home. If they have assets, but not a lot of income, this can be a good way to buy more of a home than they would qualify for with a traditional mortgage, and reduce monthly outlay at the same time. Below are some advantages and disadvantages of a reverse mortgage.

Advantages of a reverse mortgage:

• No fixed due date
• Repayment not required as long as the home remains the borrower's principal residence 
• Nonrecourse loans -- the amount can never exceed the selling price
• Borrower holds title to property
• Loan proceeds not taxable
• Flexible payment...