Posts by : Wally Reule

After a slow first quarter, sales of luxury homes in Sedona have almost caught up with last year's numbers. At the end of March, only three homes over $1,000,000 had sold in Sedona, but as of the end of April, that number had more than doubled to seven. That compares to eight luxury homes sold in the first four months of 2013. The median sales price for those homes was $1,460,000 compared to $1,193,250 for the same time period last year. May also appears to be a strong month for this market.

Average interest rates on a thirty year fixed mortgage have dropped to 4.14%, their lowest level since last October. If you are considering the purchase of real estate in Sedona, now is a great time to do it.  There are a lot of great new homes available that are very good values. 

The Sedona Film School will showcase the thesis films of their graduates this Memorial Day weekend. Not only will you get to see some great short films, but you can vote on your favorites. And a bit of trivia: Wally Reule, an actor in a former life, appeared in previous films, before he got too busy selling Sedona Real estate. For more information call 928-649-4257 or go to www.sedonafilmschool.com

The price on this beautiful home has been reduced to only $355,000. This is a great deal!

6070 E La Privada
Cornville, AZ

MLS# 503022 - Residential

Panoramic views of the Mingus Mountain range welcome you to this executive style, stucco home. Unique features of this distinctive home, are it's extra high ceilings, walls of glass, and private baths in each of the 3 bedrooms. High-end finishes include granite, stainless, and custom blinds & draperies. Listen to the soothing sounds of the water features which grace both the front courtyard and back patio. Landscaping is low maintenance leaving plenty of time to enjoy the beautiful community pool. This move-in-ready, immaculate proper...

So, what is an Automated Valuation Model (AVM)? Essentially it's a  technology driven estimated probable selling price of a home that was derived using an analysis of public records and computer decision logic. If you've ever gone to Zillow or Trulia to find out what you're home is worth, that's where the estimate comes from. Unfortunately they are sometimes wildly inaccurate, but sellers want to believe the AVM when it's too high and buyers want to believe it when it's too low. The fact is that the only way to get a real estimate of a home's value is with a real appraisal or a professional Comparative Market Analysis, and even those may vary somewhat. Just to see the difference I checked...

Our newest listing, this lot is located in one of Sedona's premier gated communities. It's over half an acre and it has great, unblockable views.

3282 Calle Del Montana
Sedona, AZ

MLS# 503948 - Land

Sedona's red rocksoften referred to as the "8th" Wonder of the World, provide a mesmerizing backdrop for this beautiful lot. Centrally located in one of Sedona's finest gated communities, this premier custom building lot has it all! Resting on one of the highest elevations in Foothills South, this property provides the privacy and unblockable views, that buyers & investors have at the top of their wish lists. Couple that with the fact that this lot is alive with native bushes, trees, ...

Last year was a very active year in the Sedona Real Estate Market. The number of sales were up in all price ranges, and so was the median recorded sales price. For more detailed information look back at previous blogs. In fact, the market was so active that late in the year many clients changed their search to vacant land because inventory was the lowest it had been in ten years, and they simply couldn't find an existing home that would meet their needs.  The market cooled off during the first quarter of 2014, and prices flattened out, while at the same time the inventory replenished itself. We are now poised for another period of more sales and higher prices, and as you know, it's best t...

Sedona market statistics for the first quarter are in, and the market has definitely cooled from the first quarter of 2013. With regard to single family homes under $1,000,000, the median sales price has gone down from $427.000 to $375,500, and the number of closed transactions has declined from 91 to 76. But what's interesting is at the same time, the average price per square foot has gone up about 2%. When you do the math, you see that the size of the average home sold has gone down from 2157 to 1840 square feet. Our clients are buying newer well appointed homes that have smaller but more open and more efficient floor plans. For more information on our local market statistics, click her...

Our newest listing at 55 Arroyo Drive just hit the market last Saturday and we quickly had multiple offers. The home is now pending, but taking back-up offers. If you are considering the sale of your Sedona area real estate, please contact us to see how we can help.

Two weeks ago 27 agents and friends of Russ Lyon Sotheby's International Real Estate in Sedona spent two mornings picking up trash in Oak Creek Canyon. The event was sponsored by the Oak Creek Watershed Council, and resulted in numerous bags of trash and recyclables being removed form our beautiful Canyon. The Council was also able to raise over $3000 in grant funds because of our efforts. Above is a picture of our group.

Who knows what 2014 will bring to the housing market? Nobody for sure, but here's what David Berson, former chief economist for Fannie Mae thinks. He predicts that 2014 will be the strongest year for housing since before the Great Recession. Why? Employment growth is accelerating and unemployment is declining. And there is pent up demand because people who would normally have been living on their own have not purchased homes because of concerns about the economy. Finally, he predicts that interest rates will not rise enough to stop people from buying their own homes. If you're ready to purchase real estate in Sedona, let us know how we can help.

We love our community, but it's also nice to get special recognition from a source as terrific as the Smithsonian Magazine! This month's issue features an article entitled "The 20 Best Small Towns to Visit in 2014", and Sedona is included. So follow their instructions. Visit this year, and give us a call while you're in town. To see the article, click on the following link. 

 http://www.smithsonianmag.com/travel/20-best-small-towns-to-visit-in-2014-180950173/?page=8&no-ist

Jan Bigelow is a member of the Sedona Luxury Real Estate Professionals (SLREP), a select group of 25 agents. If you are thinking about buying or selling luxury real estate in Sedona, here are some interesting facts to consider when choosing an agent, and more specifically, Jan. 

•          In 2013 there were 33 closed residential sales over $1MM
•          A SLREP  agent  was either the listing agent or selling agent or both for 30 of the 33 transactions. 
•          What that means is over 90% of the luxury sales in 2013 involved a SLREP agent
•          SLREP agents represent roughly 4% of all the agents in the Verde Valley
•          Bottomline – this small select group was involved in mo...

There has recently been quite a bit of press regarding shifting opinions on home ownership. Pundits are questioning whether the recent challenges that many homeowners have faced will sour the American dream of owning a home. Of course, there are many factors to consider, but if it becomes a financial decision, buying a home is the clear winner! How do we know that? Every six months Trulia's chief economist runs the numbers to answer just that question. And according to the latest data, assuming a 30 year mortgage fixed at 4.5% interest, buying is cheaper in all of the 100 largest metro areas by an average of 38%. So if you're ready to get off the fence and buy a home in Sedona, we're here...

Russ Lyon Sotheby's has established a Foundation to coordinate activities to support local charities, and Wally Reule serves on the committee to make recommendations on what worthy causes to support in the Sedona area. It is a way that our agents and staff can give back to the wonderful community that we call home. Our first event will be held on March 11-12 and will help the Oak Creek Watershed Council in a clean-up the the creek in Oak Creek Canyon. Twenty agents are signed up for a minimum of one half day each. But we are not trying to keep all the fun to ourselves. Please contact me if you would like to join us, or stay tuned on our website for future events.

It's an exciting time in Sedona!  The Sedona International Film Festival celebrates its 20th year, kicking off on February 22nd, and running through March 2nd.  Offering a mix of features, documentaries, shorts and special events.  This year Susan Sarandon will receive a Lifetime Achievement Award. 

This home at 1040 Rodeo Road in Sedona

1040 Rodeo Rd
Sedona, AZ

MLS# 503024 - Residential

Centrally located in one of West Sedona's finest subdivisions & nestled under Thunder mountain, this move-in-ready home offers easy access to USFS hiking trails as well as red rock views from your living room, bedroom & front courtyard. The extra large back yard is private & invites you to relax on the upper deck, or one of the lower paver patio's, or in the Jacuzzi. Grape vines and fruit trees (apricot, fig, cherry, and apple) will provide you with lots of pie baking opportunities. Crown molding, wood flooring, French doors, & cathedral ceilings provide warmth and charm to this spacious hom...

We just listed this home on the MLS last night. It's a beautiful home in a gated community in Cornville. When

6070 E La Privada
Cornville, AZ

MLS# 503022 - Residential

Panoramic views of the Mingus Mountain range welcome you to this executive style, stucco home. Unique features of this distinctive home, are it's extra high ceilings, walls of glass, and private baths in each of the 3 bedrooms. High-end finishes include granite, stainless, and custom blinds & draperies. Listen to the soothing sounds of the water features which grace both the front courtyard and back patio. Landscaping is low maintenance leaving plenty of time to enjoy the beautiful community pool. This move-in-read...