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Bargain can be a relative term, but I thought it was interesting when I read that nationally the median sales price of an existing home hit an all time high earlier this summer. Compare that to our local market. Of course, Sedona is a very desirable place to live, but compared to national prices, we still have some very good deals. At the peak in 2007, the median sales price of a home in Sedona was $592,000, and today it's $450,000. The average price per square foot then was $292, and now it's $223. So what are you waiting for? It's a great time to buy your dream home in Sedona!

Here are some kind words from another happy client! This one was posted on Zillow, along with a lot of other five star ratings. In fact, Jan is now listed as a Zillow 5-star agent because all of her reviews are glowing!

"Jan helped us get the house in marketable condition. Her sense of timing for showings, open houses, and pricing were perfect. She made sure the house and grounds always looked in tip-top shape. Showings feed back was direct and to the point. My calls to her were returned within the same day. And, most important, what a delightful, happy, intelligent person to work with"....Christina

It's always interesting to see how home prices are changing around the country. One reason is that often buyers here are sellers somewhere else, and it's good to know what they may be dealing with. This state ranking by year over year Home Price Index comes from CoreLogic's MarketPulse Report.

1. Oregon 11.0%
2. Washington 10.1%
3. Colorado 9.4%
4. Nevada 7.8%
5. Utah 7.5%
6. Florida 7.3%
7. Idaho 7.0%
8. Texas 7.0%
9. California 6.3%
10. Arizona 5.8%
11. Tennessee 5.8%
12. Michigan 5.7%
13. Georgia 5.6%
14. Rhode Island 5.4%
15. Montana 5.3%
16. South Carolina 5.2%
17. Minnesota 5.1%
18. Hawaii 5.0%
19. Nebraska 4.6%
20. Massachusetts 4.5%
21. West Virginia 4.5%
22. Wisconsin 4.3%
23. Missouri 4.1%
24. North Carolina 4.0%
25. Wyoming 4.0%
26. Indiana 3....

Jan and Wally joined Russ Lyon Sotheby's International Realty three years ago, and have never looked back! The graph below shows our company to be once again the market leader in Sedona.

This new listing is in a great neighborhood and at a great price!

2895 Thunder Mountain
Sedona, AZ

MLS# 510650 - Land

Have you ever dreamed of living in one of Sedona's finest communities, close to all amenities, in a home surrounded by native trees, lush green vegetation and within walking distance of hiking trails & the National Forest. Then search no further. A gentle, sloping drive to an easy to build, flat area will keep construction costs low. Spend your days watching the sun play off of Thunder Mountain, Coffee Pot and the Mogollan Rim. The building envelopes in Thunder Mountain protect your privacy & create a sense of living on much larger acerage, surrounded by nature. C...

Jan has been recognized as one of the top Russ Lyon Sotheby's agents in Northern Arizona. It's a great honor when you consider that we have many of the best agents in the state, so she is among the best of the best! Congratulations!

Our newest home listing is magical. The back yard is like having your own private park and the views are spectacular

240 Bristlecone Pines Rd
Sedona, AZ

MLS# 510594 - Residential

Truly a home that embraces the Sedona lifestyle of Indoor/Out living at its finest. Walls of glass open onto a flagstone patio that surrounds the pool & Spa. Cozy up by the fireplace, barbecue, or watch movies from the pool. This fully fenced property has a unique, private backyard featuring flagstone courtyards, mature landscaping, grass, fruit trees and Koi ponds. 3 car garage has custom storage cabinetry and access to green house. Large bedroom on lower level is perfect for guests, has two walls of cu...

I have commented in the past on the shortage of rental available rental properties in the Verde Valley, and the resulting increase in their value. In my reading on the subject, I came across an article in CNN about how apartments nationally are getting smaller, while prices are increasing. Sounds like what happened to my favorite candy bars. Anyway, the article states that in the past ten years the average apartment size has decreased from 1015 to 934 square feet. And in just the past five years, average rents have gone from $977 to $1296 per month. Wow! To read the whole article click on this CNN Article.

A couple of weeks ago I reported on the passage of Arizona Senate Bill 1350. It will take effect on January 1, 2017, and its purpose is to take away the ability of cities or counties to ban short term home rentals . I also wondered what the city's reaction might be, as it had been rumored that there may be a challenge in the courts. Well,  at last weeks city council meeting, City Attorney Robert Pickels said that the options to resist the new law are limited. At this point, it appears that the city will take a wait and see approach, while implementing two provisions of the new legislation. Those are to set up a mechanism to collect sales tax and to get an emergency contact for each rental...

We take great pride in providing excellent service to our clients, so we were very happy to see this from a lovely couple from Florida that we helped to make Sedona their home.

We were truly fortunate to find Jan. She and her partner Wally have a lot of integrity as individuals and give a lot of honest hard work to their customers. Jan helped us find a home in Sedona was always readily available to us, truly professional, and very experienced with the process of buying and closing on a home. She and Wally helped guide us long distance through the home inspection and closing process, and they were extremely competent and trustworthy. We felt we were guided expertly, and their genuineness ...

It's a great time to buy land in Sedona. This lot has amazing views, it is conveniently located near everything that you need, and it is in an established neighborhood with mature vegetation. And best of all, for the buyer, the price has just come down by $24,900!

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...

Nobody knows what the long term effect will be, but it is likely that mortgage rates will drop to historically low levels. The stock market hates surprises, so the huge sell off yesterday was not unexpected. However, the U.K. is only about 4% of the world economy, and it doesn't leave the EU immediately. So the economic impact is likely to be much less than the market reaction suggests. While the U.K. starts to renegotiate its trade and economic relationships globally, its current ties to Europe and the world remain unchanged. U.S. companies will continue to operate in Britain as before, and British companies will continue to participate globally. It will be interesting to see what happen...

We take very seriously the responsibility that comes with helping our clients through the demanding process of buying or selling a home. And we take great pride in doing it well. Here is a nice bit of recognition from a happy client: 

"Jan Bigelow was WONDERFUL! Responsive, professional, knowledgable. We would definitely use her again. She listened, she staged the home nicely and had a stable of Handymen, Yard workers etc who were great and promptly corrected any problems. We have worked with several Realtors and had some very bad experiences, bordering on dishonesty. Jan was a breath of fresh air and restored our faith in Realtors!"... Annette

For a long time after the housing bubble burst almost ten years ago, it was nearly impossible to get financing on vacant land. No wonder, as land values in Sedona tumbled even more than home values. Well we are glad to see that some local lenders are again financing land purchases. That should be a big help for those who can't find the home they are looking for because of the low inventory, so are thinking about building their own.

This home is in a great location, has stunning views, and is move in ready. Before putting it on the market, the seller put on a new roof, all new carpet, and painted the entire interior of the home. It is functionally sound, or as we like to say in the business, it has good bones, but the finishes are dated. Therefore, the seller has decided to offer a very large price reduction to allow for updating. Call us if you have any questions.

2175 Corral Rd
Sedona, AZ

MLS# 509555 - Residential

Located in one of the most desired subdivisions in West Sedona, this move-in-ready 3 bdrm home with large studio/hobby or family room has incredible potential. A pathway to Sedona's finest hiking...

As you may know, Sedona has banned short term/vacation home rentals for years. They have not been alone, as many Arizona cities have done the same. However, new legislation signed into law by Governor Ducey will prohibit any city, town or county from restricting the use or regulation of vacation rentals and short term rentals. That will will go into effect on January 1, 2017.  However, it does allow the city to determine regulations if they are meant to protect public health and safety, which has been the rationale behind the regulations currently in place. I will be keeping a very interested eye on how this shapes up as we get closer to the end of the year.

So how is the market shaping up in Sedona in 2016? Well, so far it looks like a rerun of 2015. The number of sales and the median sales prices are almost exactly the same as they were last year. There is, however, one notable difference. That is, there are 9% fewer active listings in the Sedona Verde Valley MLS this year than there were at the same time last year. You would expect that prices would rise because demand exceeds the supply, but so far that hasn't happened

One of the great things about living in Sedona, in addition to its natural beauty, is the abundant opportunity for personal enrichment experiences. One of those is the Illuminate Film Festival. Here's how they describe themselves.

"ILLUMINATE is the world's premier film festival for conscious cinema. Dedicated to spreading enlightened ideas and pushing humanity forward, ILLUMINATE is a landmark destination event and centerpiece for conscious content. Founded on the premise that the language of film is universal and a dynamic force in carrying messages to the masses, the Festival showcases the best of transformational media to uplift, inspire and transform."

The festival starts on June 1...

Rental properties around the country are becoming a hot commodity. As the demand increases and supply remains static, average rents have been going up. That's exactly what has been happening in Sedona and the entire Verde Valley. As real estate agents, we often hear the frustration of clients who would like to rent while searching for a new home in this area, and finding that nothing is available. Of course, this situation creates an opportunity for investors. Read this recent article in the Sedona Red Rock News for information on this topic.

Sales of vacant land in the Verde Valley, and in Sedona in particular, have really taken a nose dive since the same time last year. The numbers for the first four months of the year in Sedona show that the number of sales is down by over 50%, and the dollar volume for sales is off by over 60%. There are a few bright spots, including Clarkdale, Lake Montezuma and the Village of Oak Creek. But if you are considering a land purchase in this area, now would be a good time, as prices are low.