Posts by : Wally Reule

According to a recent survey by the John D. and Catherine T. MacArthur Foundation, attitudes about home ownership have changed a lot since the housing crisis. The appeal of renting is increasing. That's become very apparent with regard to housing in Sedona. Many of the Sedona area homes for sale under $350,000 have been purchased by investors to be rental properties. In spite of that, demand, and competition for rental homes remains high, and many potential renters are having a difficult time finding a place to live in Sedona. If you're considering a home in Sedona, but are not yet ready to move, consider buying a home now while prices and interest rates are low, and rent it until you're ...

A couple of weeks ago I blogged about a beautiful home in Sedona that we had listed at $1,620,000, and encouraged you to look at it in our featured listings page. The good news about that listing is that we had an offer within two days, and it is now in escrow. But since it's no longer an active listing, it disappeared from that page. Sorry you missed it, but that's the way this market is going now.

I wouldn't normally put this in the blog, but I want to share something that came from the broker of a different real estate company in Sedona. He said, "Congratulations on this successful transaction...You are a credit to the real estate industry in general, Realty Executives specifically, and most importantly to yourself." High praise from an executive from another company.... feels great!

Freddie Mac has reported that 15 year mortgage rates have hit an all time low. During the week ending April 25, the rates fell to an average of 2.61%. It's just another good reason to buy a home in Sedona. Prices for Sedona real estate are on the rise, but there are still some great deals to be had. Call Jan or Wally if we can help.

A client recently told me that he wanted to find a smokin' deal, but was afraid he had already missed them. Well I'm glad to report that there are still some excellent deals in Sedona! They just cost more than they used to. The median price of home sales in Sedona has gone up, but much of that can be attributed to the fact that most of the better low priced homes have been sold, and many of the ones left require some tender, loving care. Since most buyers don't want to do that, they're buying more expensive properties. But even though they may cost more, there are still homes that are smokin' deals when compared to comparable properties. Don't be like some people who waited to long and ar...

The market has changed for Sedona real estate! Prices are going up, and we often receive multiple offers Sedona homes for sale, so here are some tips reported by CNN Money Magazine.

(1) Don't waste time with lowball offers. Those days are gone, and it's not going to work. Even if the seller doesn't have another offer in hand, if it's a property you really want, you might alienate the seller.

(2) Bid to win! As I said, we are often seeing multiple offers on the same homes in Sedona, so in addition bidding more, consider the following strategies: Have fewer contingencies, be flexible with the closing date, and offer a leaseback if the seller is in a crunch to vacate.

(3) Shop for financi...

As we have reported before, inventory of homes for sale in Sedona are lower than they have been in many years. But they're starting to creep up again as demand is strong and prices are increasing. The higher prices have allowed some sellers who were underwater before to finally put their homes on the market. Although prices are increasing, it's still a great time to buy Sedona Real Estate,

Rising prices helped lift nearly two million homes above water in 2012, according to a report released by real estate data firm CoreLogic. Another 5% increase in home prices will bring an additional 2.3 million homes above wqter, and at the present rate, that won't take long at all. This trend is likely to heat up even more what is already a strong seller's market, as many of these people will finally be able to sell their current homes and buy their dream home in Sedona.

And the answer is an emphatic YES. Inventory of existing homes is lower than it has been since 2005, when the market was on fire. Home buyers are finding it difficult to find the home to meet their needs, and are electing to build. Sales of vacant residential lots were up 30% in 2012 over 2011, and that trend is accelerating. While prices show signs of starting to rebound, they are still less than half of what they were at their peak in 2006 - 2007. Real bargains are going to become more difficult to find.

The median sales price for Sedona Homes has risen from $340,000 to $405,000 since just last November 30. The market is hot and the inventory is low, and the longer home buyers wait, the more expensive it will be!