Posts by : Wally Reule

Our local real estate market continues to be very active, and it's clearly a sellers' market. Much of this has been driven by people wanting to make different lifestyle choices as we slog our way through the pandemic. I recently read an interesting article in Forbes that suggests that many of these changes may be permanent. To read the full article, click here.

The Sedona real estate market continues to be slowed only by the lack of inventory. All of our recent listings have been under contract within three days, and all received multiple offers. Because anything under $800,000 goes so quickly, the median price of homes listed for sale in Sedona now exceeds $1,000,000, according to a report from Yavapai Titile Company. Click here to see that report.

Here is another one of our listings that had multiple offers and was under contract within two days of coming on the market.

380 Oak Ridge Lane
Sedona, AZ

MLS# 524330 - Residential

Nestled at the end of a cul de sac, and surrounded by towering evergreens & mature desert vegetation, sits a charming southwest home offering panoramic red rock views from every room. Architecture resembles the Santa Fe/Pueblo designs. This single level home features Saltillo tile, custom cabinetry, wood floors and a gas Kiva fireplace. Walls of glass at the front entry display the intimacy of the front courtyard. 3rd Bedroom (on-suite) has it's own private entry off garage. Be sure to park at the en...

Just when we think we can't get any busier, somehow we do. All of our recent listings have had multiple offers because there are so few homes on the market. For a breakdown of sales through the end of August, visit our Market Statistics page.

This real estate market is on fire! The new listing that I introduced in my last blog had several offers and is now under contract. This listing went live this morning and we have already had at least a half dozen calls.

350 Northview Rd
Sedona, AZ

MLS# 523965 - Residential

Nestled in the heart of Sedona, this 3 bdrm, 2 bath , 1819 sq ft, single level home, is move-in ready & looking for a very special new owner. The new owner will enjoy updating the bathrooms, and delight in selecting their favorite colors to paint the interior. The kitchen has been remodeled, deck was recently stained & sealed, interior has been professionally cleaned...even the garage cleaned & painted. Disp...

You can see forever from this one, and it's been getting a lot of interest since the day that it came on the market. My bold prediction is that it will be under contract this week.

100 Pine Knolls Drive
Sedona, AZ

MLS# 523873 - Residential

If miles of hiking/biking trails, no HOA, & HUGE red rock views, top your ''must have'' list - - search no longer. This exceptional hilltop sanctuary with its long sweeping driveway & luxurious indoor swimming pool boasts a private, ''resort like'' energy. 3 Kiva fireplaces, towering walls of glass, & colorful Mexican tile throughout highlight this quality Santa Fe build by John Griffin. Cabinetry & doors have authentic Ocotillo cactus insert...

Here is another testimonial from a happy client. We listed their home for nearly $1,200,000 and had an accepted offer in less than 24 hours. This was posted on Zillow.

"It was a delight working with Jan Bigelow from the very moment we talked about selling our house until the day we sold our house. Jan was always a step ahead, thinking of our questions and our needs, and always responded quickly to our calls or emails. She was extremely professional, knowledgeable, efficient, and kind. We are grateful for her help in selling our home and would highly recommend Jan to anyone selling or buying a home. Jan is beyond exceptional!"

JCKJWK
120 Highland Dr N, Sedona, AZ 86351

Our new neighbor and friend Michelle gifted us with a watercolor portrait of our beloved Abby. We were blown away by how she captured Abby's perpetual smile and personality through her eyes. It turns out that Michelle is a working artist who does personal portraits of pets, and we are clearly big fans. If you want to see more, go to her website at www.michellehaveri.com 

This one has a successful track record as a vacation rental, and has a casita with a long term renter. The first showings will be Saturday, July 18, and we are already fully booked with appointments for that day.

90 Country Lane
Sedona, AZ

MLS# 523577 - Residential

This well designed contemporary southwest home with detached guesthouse (GH) has sweeping panoramic forest & Bear Mt views through wall-to-ceiling glass. The spacious great room, open kitchen, & split floor plan is perfect for gatherings. Gallery lights illuminate the professional photographic landscapes gracing the walls. Main home used as short term rental since late 2017 (Income #s available--often ranked #1 short...

Here is the three letter word that I would use to describe our Sedona real estate market: HOT!. Notice the caps and exclamation point for emphasis. We have never seen the number of homes under contract this high and the number of homes for sale so low. One year ago we were complaining that there were only 179 active listings, and now there are 139. But why, in this economy, is this happening? What we're hearing from buyers from all around the country is that the pandemic is making them rethink their priorities, and that when the next lock down comes, they would rather do it in Sedona. For full market statistics for the first half of 2020, click here.

Here are market statistics for sales of homes and land in Sedona for the first five months of 2020. Each category is also compared to the same time period the year before. Sales declined for homes priced under $1,000,000, with 178 sales compared to 191 last year, a decrease of 6.8%. Considering that the market was nearly shut down for a couple of months, that's a surprisingly small decline. However, the median sales price increased to $575,000 from a year ago when it was $555.000, but average price per square foot is virtually unchanged.. Sales of luxury homes experienced a similar decrease with 21 closed compared to 25 in 2019, but the median sales price grew a whopping 38% to $1,555,000...

I read an interesting blurb today about how low interest rates are keeping housing affordable for many buyers. Here's what it said. "the bottom line being that even though average prices are back to where they were at the market peak in April of 2006, the mortgage payment is 30% less! That's because interest rates are over 3% less. Put another way, today's buyer has 30% more buying power for the same cash outlay." I'm betting that interest rates are going to go up before home prices fall,, so it's a good time to buy.

One of the things that makes us proud of our affiliation with Russ Lyon Sotheby's International Realty is the generosity of the company, the agents and the staff. In addition to raising funds for good causes, we have volunteered our time for everything from cleaning up the water shed, to giving books and school supplies to needy students, to ringing the salvation army bells at Christmas. We just got the blurb below. For a feel good moment, visit the website at russlyonfoundation.org 

"Since the Russ Lyon Charitable Foundation began in 2014, over $207,293 in donations have gone to close to 70 501c3 charitable organizations through direct donations, sponsorships, matching funds, and fundra...

Here is the third in our series of five

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Here is our most recent listing. It's a beautiful home in the Village of Oak Creek, and we had an accepted offer within 24 hours.

120 N Highland Drive
Sedona, AZ

MLS# 523222 - Residential

This Paul Cate custom, ''green'' home design raises the bar when it comes to capturing big views in a gated community. Cathedral Rock & 7 Sisters encircle the entire main living area. 3 Patios, built in exterior kitchen, & 360 views from the observation deck with firepit. Thoughtfully designed, this 3586 sq ft, 3 bdrm & a den home on 1.03 acres boasts geothermal heating & cooling, solar hot water, Low E windows, central vac, stereo system, & motorized exterior window shades. Travertine floors,...

Here is the second in our brief series of tips for how to stay fit during the pandemic.          

Jan was talking to a new client about homes in Sedona and asked if stairs bothered him. His response was "Not yet." It reminded me of a quote that I came across which I'll have to paraphrase because I don't remember the author, but he said that many centenarians still take the stairs because they never stopped. And there is statistical evidence that shows the longevity benefits of climbing stairs. So, with that in mind, and the fact that I spent over thirty years in the wellness business, I will post some fitness tips over the next few days. Here's the first one.

In spite of the current pandemic related restrictions, the real estate market in Sedona is still doing quite well, particularly at our office. While our MLS is down about 10% YTD compared to last year, Russ Lyon Sotheby's in Sedona is up 15%. And based on the number of calls and emails we are getting from people who would like their new normal to happen in Sedona, we expect a very busy summer.

I know I should be blogging more about real estate here, but I came across this while walking Abby on a local trail and I couldn't resist. OK, to make it relevant, here is another good reason to own a home in the Verde Valley.

Here is an incredible new testimonial. I know it's too long to put here in its entirety, but I'm going to anyway, because I don't know what I would take out.

"Let me begin by saying that I am a person who is quite stressed about buying or selling a house. Problem solved by working with Sedona's perfect realtor! Jan Bigelow at Russ Lyon's Sotheby's International Realty is world class. Actually, I found her online and knew from her photograph that she was someone I could trust. I not only enjoyed my time exploring Sedona with her but at every juncture I felt that she had my best interests at heart. She instinctively sought out and worked with what I expressed were my tastes in architecture...