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Posts by : Wally Reule

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Prices of Sedona Vacant Land Still Going Up

Wed, Jan 19th 2022 10:20 pm by Wally Reule Sedona Real Estate Market News

A client who has been looking for a vacant lot in Sedona recently emailed to say that she thought prices were coming down, and cited two lots that had reduced their list prices. But, in fact, prices are still going up. In the past two years, the median sales price of a vacant lot in Sedona has gone from $167,500 to $250, increase of 49%. The rate of increase is slowing, but prices are still climbing. What has happened is that land is in demand because of the scarcity of homes for sale, and prices no longer seem fully dependent on comparable sales. We have gone to the true definition of market value, which is what a willing buyer will pay to a willing seller. Some sellers want to t...

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2021 Year Ending Numbers in Sedona

Mon, Jan 17th 2022 1:46 pm by Wally Reule Sedona Real Estate Market News

The year ending numbers are in, and they are staggering! The median sales price for a luxury home in Sedona (defined as the top ten per cent in sales price) was $1,460,875, compared to $1,423,000 in the prior year. While that might not seem like a lot, the homes that were sold in 2021 averaged 3570 square feet, while those sold in 2020 averaged 4138 square feet. That made the price per square foot in 2021 $497 compared to $393 in 2020....a 26% increase! The price increase for other single family homes in Sedona went up an incredible 35%, from $650,000 to $875,000. For more information, including vacant land, visit our market statistics page here.

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Beautiful Home for Sale in Cornville

Sat, Oct 16th 2021 11:45 am by Wally Reule Sedona Real Estate Market News

We brought this home on the market today. Most of the furniture is available for sale to make it turn key.


2390 S Chalk Hill Rd
Cornville, AZ

MLS# 528072 - Residential

With sweeping views of the Red Rocks and Mingus Mountain, this meticulously maintained home is perfect for entertaining or quiet country living. No HOA--this property is great for investors looking for short-term rental opportunities.Home features dramatic archway entrances into living room and kitchen. Living room windows frame expansive views, a wrap-around patio, and an exterior entertainment space with a dining area and fire pit. Front of the house includes dining space and gas fire pit as well, allowing for ...

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Real Estate Meets Barbershop Music

Fri, Oct 15th 2021 10:20 am by Wally Reule Events


You may know that Wally has been singing in a barbershop chorus and a quartet for years. This Sunday they will sing three songs before the Sedona International Film Festival showing of the film  American Harmony. It will be great fun if you can make it. Click on this link for more information.

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A New Listing in Cornville

Wed, Sep 29th 2021 11:11 pm by Wally Reule Sedona Real Estate Market News

This one is a townhome with great views of the Mingus Mountains.


480 S Camino de Encanto
Cornville, AZ

MLS# 527897 - Residential

This charming 2 bedroom 2 bath Villa, backs to the golf course and has big views of the Mingus Mountain Range. Current owner works in Phoenix and has rented the property. Selling AS IS.... Property is grandfathered into the program granting new owners the use of the Verde Santa Fe pool and Community Clubhouse. This 55+ community is close to hiking, Sedona, and all that Old Town Cottonwood has to offer.

View Listing Details


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Magnificent Home in North Slopes

Mon, Sep 27th 2021 11:29 am by Wally Reule Sedona Real Estate Market News

This new listing of ours has it all! Call to schedule a showing for qualified buyers.


70 Evergreen Drive
Sedona, AZ

MLS# 527854 - Residential

Southwest architecture meets Mediterranean classic style completing the resort like atmosphere of this privately located , multi-level, 4,616 sq ft home built on 2.05 acres. Home has 4 bedrooms 4 baths & 866 sq ft casita. Located in gated community of North Slopes this home has the elegance & quality that you would expect from a luxury listing in Sedona. Be sure to read the ''Special Features'' attachment to this listing to truly APPRECIATE this property. Sunrise or Sunset, the views of Sedona's Red Rocks, from the interior or exterior wi...

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Sedona Vacant Lot With Amazing Views

Fri, Sep 17th 2021 2:11 pm by Wally Reule Sedona Real Estate Market News

This lot has some of the best views in Sedona, guaranteed to be unblockable. Let us know if you would like a personal tour.


960 Laurel Spur
Sedona, AZ

MLS# 527534 - Land

If you are dreaming of building a luxury home with''... incomparable'' red rock views, let me introduce you to 960 Laurel Spur. Perched on a hilltop, in the very heart of Sedona, this .87 of an acre lot has 270 degree views, at a minimum. If rated, the red rock views would begin with stunning and end at majestic. Utilities (underground) are available to the lot. Building area is large and sloped. A construction (safety) fence was built around the building area. Current owner has architectural plans and had inst...

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New Listing in Oak Creek Canyon

Sat, Jun 12th 2021 1:41 pm by Wally Reule Sedona Real Estate Market News

As I write this I am about to start an open house at this new listing. This home is right above Oak Creek, but high enough to be out of the flood plain. How peaceful it is here with the gurgling of the creek to connect me to nature. Here is the information on the home.


4426 N State Route 89a UNIT #12
Sedona, AZ

MLS# 526727 - Residential

Charming 2 bedroom, mobile home cottage sits high amidst the sycamore trees ON OAK CREEK. 55+ community borders National Forest on East. New addition (family room) has 3/4 bath. Property has been pre-inspected, needs updating and is being sold AS IS. Inspections available to all buyers for review. Park monthly fees include water, community septi...

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Wally and Jan Share Exciting News!

Sun, May 30th 2021 1:58 pm by Wally Reule Sedona Real Estate Market News

After spending eight years employed by Russ Lyon Sotheby's International Realty, Jan and Wally have started their own real estate brokerage firm. Not surprisingly, we named it Make Sedona My Home Realty. We have nothing but good things to say about our former employer, but it was time to strike out on our own. You can still expect the same high level of service that has been our standard, and we look forward to assisting you with your real estate needs.

New Logo

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Another Interesting Article on the Housing Shortage

Sun, May 23rd 2021 5:18 pm by Wally Reule Sedona Real Estate Market News

Nobody really knows how long this hot real estate market will last. And on a side note, if you were my client, I would give you a Market Conditions Advisory which says that I don't know if or when prices will go up or down, so if I do say something different, don't believe me. But that aside, this article from NBC News says that the demand is driven by the Millennials starting families and the supply is limited by a shortage of building supplies and appliances. Here is a link to the full article.

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Demand for Second Homes is Up, But Wait a Minute!

Tue, Apr 20th 2021 4:40 pm by Wally Reule Sedona Real Estate Market News

The demand for second homes and vacation homes has always been high in Sedona, but now there is a new wrinkle. The shortage of homes for sale has made it harder than ever for first time home buyers to get into the market. Fannie Mae and Freddie Mac to the rescue! They will both now limit mortgages for second homes and investment properties to just 7% of their portfolios.

“This is because Fannie Mae’s mission is to support homeownership, so it doesn’t make sense to be supporting second homes or investment homes. Instead they will focus more of their portfolios on primary homes which will hopefully give more opportunities to first time homebuyers and owner-occupants,” said Daryl Fairweathe...

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When Will Housing Supply Catch Up with Demand?

Thu, Apr 15th 2021 4:14 pm by Wally Reule Sedona Real Estate Market News

We all know that the inventory of homes for sale is at historic lows, and every time a decent home comes on the market, it seems to attract multiple offers for over list price. What is less well known is that according to the National Association of Realtors, in 2021 the number of homes sold is projected to be 6.5 million compared to 5.64 million in 2020 and 5.34 million in 2019. But wait a minute! How is that possible if there is nothing available for sale? Well actually, there are enough homes to satisfy the market in normal times, but these aren't normal times. The demand is much higher than ever, and that will probably continue until at least the end of this year. Eventually, more hom...

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Have Mortgage Interest Rates Skyrocketed?

Tue, Apr 13th 2021 5:22 pm by Wally Reule Miscellaneous

I came across an interesting article on recently and the title said that interest rates have skyrocketed in recent months. In fact, it stated that the average interest rate for a 30 year fixed mortgage was all the way up to 3.18%. For someone like me, whose first mortgage in 1984 was at a 14% interest rate, this seems like a pretty low flying skyrocket. But it's all relative, and even though interest rates are still at historically low levels, this increase does price some people out of the market. The main culprit, of course, is lack of inventory and the resulting strong sellers market. It's always something! To read the article click on this link.

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Sedona Real Estate Market Still on Fire

Mon, Mar 22nd 2021 5:43 pm by Wally Reule Sedona Real Estate Market News

Our real estate market continues to be a very strong seller's market. Most properties are getting multiple offers in the first couple of days in the MLS, and if you're not paying attention, they will have come and gone before you know it. Because there are so few homes available for under $1,000,000, the median listing price is now $1,467,500. That's a little deceiving because the more expensive homes a moving a little slower. But it has shifted a lot of attention to vacant land, and good lots are not as plentiful as they were six months ago. For more information visit these market statistics.

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New Link for Solar Energy Information

Tue, Mar 16th 2021 5:18 pm by Wally Reule Miscellaneous

As you probably already know, I am very interested in programs that help to protect our environment, and am one of the few agents in the Verde Valley that has earned the GREEN designation from the National Association of Realtors. So I was surprised and pleased to receive an email from a teacher who shared that a student named Megan had found a very informative website for young environmentalists. It contains a lot of information on solar power, and I am happy to share the link. It is It is also available on the Environmentally Friendly Homes Page of our website. Thanks Megan!

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Sedona in Motion Project Moving Right Along

Sat, Mar 13th 2021 3:19 pm by Wally Reule Events

The City of Sedona has developed a comprehensive plan to alleviate the traffic congestion that we experience when we have a lot of visitors in town. Much of the work in Uptown is now complete and we are moving into subsequent phases of the plan. To read a status update, click on this link to the Red Rock News article.

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Is i-Buying the wave of the future in real estate?

Mon, Mar 1st 2021 10:05 am by Wally Reule Miscellaneous

Lately it seems like you can't watch TV for more than an hour without seeing a commercial touting the benefits of selling a home through an internet based service. Although I believe there are many good reasons not too go this way, that is not what this blog is about. Instead, this is just a look at how well this business model is performing. This information comes from the Cromford Report.

Despite its name recognition, Zillow has been unable to capture much market share from the other iBuyers in Phoenix and appears to be stuck at little more than one sale per day. Zillow represents 16% of the iBuyer market, which itself was under 3% of the total market by unit count. In hindsight the pe...

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Are You Looking for a Foreclosure in Sedona?

Mon, Feb 15th 2021 9:36 am by Wally Reule Sedona Real Estate Market News

If you are expecting to find a really good deal in Sedona through foreclosure, you may have a very long wait. Core Logic recently published their Loan Performance Insights report for November 2020. 5.9% of mortgages were delinquent by 30 or more days in November, which is up from 3.9% in November 2019, before the COVID-19 pandemic hit. Serious delinquent loans plus loans in foreclosure are at 3.9%, which is the lowest rate reported since June 2020. This declining level of delinquency supports the view that there will a large supply of distressed inventory in the next year,

The difference between today's defaults and those that we witnessed in the 2007-8 crash is the equity position owner...

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Welcome Denise Garlan to the Team

Tue, Feb 2nd 2021 7:14 pm by Wally Reule Sedona Real Estate Market News

We have been working closely with Denise Garlan for several years, and are pleased to announce that she is now a full fledged member of the Make Sedona My Home team. She brings a lot of expertise because of her years of experience as a builder/developer. In addition to being professional knowledgeable and caring, she is just fun to be around. Learn more about her background here.

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Responsible Tourism in Sedona

Sun, Jan 31st 2021 3:01 pm by Wally Reule Miscellaneous

Although Sedona is a small town with a population just over 10,000. we attract an average of three million visitors each year. Of course, in addition to our charm and sparkling personalities, the main attraction is the natural beauty of our red rocks. So it makes sense that we want to preserve that beauty. With that intention, the Sedona Chamber of Commerce has developed a responsible tourism program. One of the initiatives of that program is called Leave No Trace.

Leave No Trace

Click on the logo above to learn more about the program. Or better yet, click here to register for the February 17 ZOOM meeting presented by the Leave No Trace Center for Outdoor Ethics.

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