Posts by : Wally Reule

The FHA just announced that the rate for mortgage insurance will go down from 1.35% of the loan balance to about .85%. For the average FHA home buyer this move will reduce the monthly payment by $75. It is estimated that this move will allow 250,000 more buyers to enter the market.

The Sedona Marathon is right around the corner, and if you're planning to run or walk, great! If not, but you'd still like to get involved, consider volunteering some time at the event. There are plenty of opportunities. For more information visit their website by clicking here.

According a a recent article in CNN Money, experts are predicting an increase in the number of first time home buyers this year. They feel this will happen because of looser lending standards, low interest rates, increased inventory and the fact that rents are going up faster than home prices. View the full article on first time home buyers. There are still many very well priced homes available in the Verde Valley, so please give us a call if you are in the market.

In another sign that the Sedona commercial real estate market is rebounding, Sedona Planning and Zoning approved a zoning change to allow a 12000 square foot CVS Pharmacy to be built on the corner of Airport Road and State Route 89A. The final project must yet be approved by the City Council.

The commercial market has been turning around, and it's nice to see plans for some new construction after a long hiatus. The proposed development will be a 10,000 square foot office building at the intersection of State Route 89A and Roadrunner. The developers said that it is 75% rented, but declined to reveal the new tenants. Final approval by the city is still necessary.

I just read an interesting article stating that many potential first time home buyers are deciding to continue to rent because home appreciation is less than 10% per year. The author included the following chart, which shows very clearly that even with 4% appreciation over 5 years, the home owner would end up with a nice chunk of equity, especially compared to the goose egg with renting.

In an effort to bring more first time home buyers into the market, Fannie Mae and Freddie Mac have announced that they will start offering loans with as little as 3% down. Strict underwriting will apply. For a full account see this Article in CNN Money.

Sedona officially puts on its holiday face on Saturday, December 12, with something festive going on every day for the rest of the year. For a schedule of events visit www.holidaycentralsedona.com

Many of our clients have purchased homes, or are looking for them, to retire to in Sedona. While most have already retired, several do not plan to retire for another 5 - 10 years. But they recognize that the home they want to enjoy in their golden years may never be more affordable. So they're renting it out in the meantime. That's good planning! But with that in mind, today I recently read an article in USA Today Money about how most Americans are woefully unprepared to even plan for retirement, let alone retire. I am sharing that article here in case you know someone who may benefit form reading it.

According to Freddie Mac, home appreciation in 2013 was 9.3%, in 2014 it will be 4.5%, and in 2015 it is projected to be 3%. In Sedona, as of the end of the third quarter of this year, the median price of a home sold was 5.6% above the prior year, which is pretty close to the national average. One of the reason for the slowdown over 2013 is the increase in inventory. And in fact, active listings in the Sedona Verde Valley MLS in January were 805, compared to 935 in November. With new construction, and more existing homes coming on the market, that trend is expected to continue.

I just read an interesting article by Lou Barnes in Inman News stating that there is a very good chance that mortgage rates will fall below 4% again, based  on what's happening with long term interest rates. If you'd like to read the whole article, click on Inman News Article.

A recent article in CNN Money reported on the five best cities to grow older in. According to  Milken Institute's Best Cities for Successful Aging report, number one is Madison, Wisconsin, followed by Omaha, Provo, Boston and Salt Lake City. While I know these are great cities, they do share a common characteristic that would eliminate them for me: Winter! Which is why I am partial to Sedona. We have mild winters, amazing natural beauty, an interesting populace, and proximity to Phoenix. Make Sedona Your Home!

Preparing a great Thanksgiving dinner is all about the timing, according to Jan. I know that personally I have a hard time keeping track of 2-3 dishes at the same time, let alone a six course meal. Well it's KitchenPad Timer to the rescue. This App will allow you to keep track of nine dishes at the same time....5 stove-top and four oven timers. Click on KitchenPad Timer for details.

Below are excerpts from a recent article in the Bloomberg News that further support the position that the real estate market is getting stronger. Click on this Bloomberg Article Link to read the whole thing.

"Existing homes sold at a 5.26 million annual pace in October, the most since September 2013, the National Association of Realtors reported on November 20. Purchases of previously owned U.S. homes last month climbed 1.5 percent from a revised 5.18 million pace in September, the real-estate agents’ group said. It was the fifth consecutive month that the sales pace topped 5 million. Prices also climbed, the group said."

“This is much healthier than we’ve seen over the last year or so,...

After a slow start in 2014, the real estate market in Sedona continues to improve at a sustainable rate. Sales picked up in the third quarter, and the median price of a home is 6% over prior year. Distressed properties have almost disappeared from this market, and demand continues to increase, as can also be seen in the amount of new construction. For more details click here. 

This home is move in ready and is pri

6300 Wide Horizon Court
Cornville, AZ

MLS# 505134 - Residential

Located on a quiet cul de sac, this move-in-ready home has the quality, floor plan, views, privacy and proximity to amenities that homeowners want! Low maintenance desert landscaping and a gated front covered patio invite you to take-in a sunset or enjoy a leisurely lunch in the shade. Kitchen has beautiful custom counters, large island for food prep, a built-in wine fridge, breakfast bar and an eat-in area (i.e. nook). A built-in desk area and cabinets make the 3rd bedroom a great craft room or a private den. A great use of space, and large windows make this 3 bdrm home seem muc...

As a Barbershop singer, I was recently privileged to sing at an event honoring Veterans in the Verde Valley. And as a Viet Nam vet myself, I was touched by the sincerity of the appreciation. Please take the time to thank a vet for his/her service on Veterans Day, Tuesday, November 11.

Here is our newest listing for vacant land, and it's a beauty! Cross Creek Ranch is a great location....just see the information below!

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 amenities the Verde Valley offers. Best of all, imagine a home nestled in the middle of nature with decks...

If you're looking for a beautiful Sedona townhome, centrally located, with fantastic finishes, this is it. The interior has been meticulously maintained and the exterior is taken care of by the home owners association, allowing you to move right into a carefree Sedona lifestyle.

104 Pine Leaf
Sedona, AZ

MLS# 505461 - Residential

Situated in the heart of West Sedona this Nepenthe townhome is within walking distance of shopping, hiking and Sedona's other amenities. Quality upgrades include Knotty alder built-ins, hand railings and doors, granite countertops, rough Italian marble fireplace, bathrooms tiled from floor to ceiling, enlarged master shower and cedar closets are just some...

If you are looking for a place that is tucked away, yet conveniently located to Sedona, and is OK for horses, this is it.

260 Mockingbird
Sedona, AZ

MLS# 505428 - 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 least 3 sides of the home. Land has been surveyed - corners are marked. Attractively priced to...