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Latest Sedona Real Estate Market Statistics

Thu, Sep 11th 2014 3:41 pm by Wally Reule Sedona Real Estate Market News

For the latest Sedona real estate market statistics, click here. The brief summary is that for single family homes, fewer have been sold through the first eight months of this year than last, but median price and price per square foot are up. More vacant lots are selling, but prices have flattened, and luxury homes over $1,000,000 are lagging last year.



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Will Rising Interest Rates Slow Sedona Home Price Increases

Tue, Sep 9th 2014 5:59 pm by Wally Reule Sedona Real Estate Market News

Someone recently forwarded an article to me that stated, and demonstrated, that historically home prices have increased while the Fed is raising interest rates. It seems counter intuitive, but it is true. However, correlation does not equal causation. The reason the Fed raises interest rates is because prices are already going up, and they want to slow the rate of increase. I actually can't ever remember a client telling me that they wanted to buy a house, but the interest rates were too low! And it would be great if the market responded instantly when interest rates were changed, but there seems to be a lag time. It is still a great time to buy real estate in Sedona because home prices a...



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Will the California Drought affect the Sedona Real Estate Market?

Mon, Sep 8th 2014 7:52 pm by Wally Reule Events

Below  is an interesting article from Natural News that describes the severity of the drought that has California in its grip. It's a scary situation that may have dramatic consequences on a large scale, including the relocation of many Californians. Of course we all hope that they are able to reallocate their resources in a way that works, but it's a good reminder of how we must change our behavior.

California water infrastructure on verge of historic collapse

Monday, September 01, 2014 by: Jonathan Benson, staff writer

water
(NaturalNews) Water is increasingly hard to come by in drought-stricken California, where many farmers are struggling to get enough water just to pay t...


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Time to Register for the Sedona Marathon

Tue, Sep 2nd 2014 7:04 pm by Wally Reule Events

Online registration for the 10th Annual Sedona Marathon Event is OPEN! Make it a family affair, with something for everyone, like the 5K, 10K, Half or Full Marathon. It will be run on Saturday, January 31, 2015. If the hills don't take your breath away, the scenery will! Click on www.sedonamarathon.com to register



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Our Newest Listing in Cornville

Sat, Aug 30th 2014 4:40 pm by Wally Reule Sedona Real Estate Market News

We just put this charming home on the market yesterday. We spent a lot of time getting it ready, which included new paint inside and out, new tile floors and great attention to detail. It's a terrific value and ready for you to move in!

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12620 E Tuscan Ridge Rd
Cornville, AZ

MLS# 504863 - Residential

If awe inspiring desert & mountain views are on your list of ''must have'', then search no further. This Rastra block construction ranch has an R-factor of 60 making it cool in the summer, warm in the winter and easy to afford. New paint (exterior & interior), & tile flooring welcome you to this move in ready home. Down a short country lane and perched at the highest elevation in the ...



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Download our Mobile App Today

Tue, Aug 26th 2014 6:09 pm by Wally Reule Events

Here are four great reasons to download our mobile app for Real Estate today.

  1. Uses GPS search to find the closest homes
  2. You can search globally in 45 countries
  3. Get driving directions to the homes you want to see
  4. Social sharing on Facebook and Twitter

Just click here to access here to access three easy ways to download the app to your Android or iPhone.

Or, you can just follow these instructions for you Android device

1. From your main menu, go to “Messaging”.

2. Tap “New Message” to compose a new message.

3. Type “87778” in the “To” box.

4. Tap the “Type to Compose” box and type the text code SEDONAHOME.

5. Press “Send”.

6. When you receive the text message response, press...



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How Much of a Down Payment Do You Need for Your Sedona Home?

Fri, Aug 22nd 2014 8:17 pm by Wally Reule Sedona Real Estate Market News

If you think that you need 20% down to buy a home, you are behind the times. Since the housing market has gotten stronger and credit restrictions have been relaxed, you actually have many other good choices. Of course, government sponsored programs are available, including FHA (3.5% down), VA (0% down), and USDA (0% down). Also, conventional mortgages are once again available for as little as 5% down. For more information click here to read an article from Yahoo Finance on the subject.



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Construction of New Homes in Sedona on the Rise

Wed, Aug 20th 2014 8:28 pm by Wally Reule Sedona Real Estate Market News

There was an article in yesterday's L. A. Times that supports what we're seeing here in Sedona. That is, new home construction is up. Last year the real estate market in Sedona was very strong. In fact, so many existing homes were sold last year that the inventory dipped to its lowest level in ten years. So what did our clients do? Many of them bought land and are now building their high desert dream homes. Click here to read the LA Times article if you want to learn more.



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Percentage of Homes Purchased by Investors Decreasing

Sun, Aug 17th 2014 9:58 pm by Wally Reule Sedona Real Estate Market News

After the real estate market bottomed out, the first large group of buyers to return were investors. They helped to make 2013 a very good year. But as the bargains were snapped up, prices increased and they were no longer able to get the returns on investment that they wanted. As a result, the number of houses purchased by investors has decreased.

Just 2 years ago in July 2012 we hit the highest percentage ever seen (33.5%) of investor purchases based on Affidavits of Value. If we add in Trustee Sales (which do not require an Affidavit of Value) the high point was around 40%. Townhomes & condos have always seen a higher percentage of sales to investors and the peak was 42.5% for this dwe...



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When is the Best Time to Buy Real Estate in Sedona?

Thu, Aug 14th 2014 7:11 pm by Wally Reule Sedona Real Estate Market News

When is the best time to buy your new home in Sedona? Drumroll please. The answer is now, and here are four reasons why.

  1. Inventory of existing homes for sale is low, and demand has been increasing. It's the old Law of Supply and Demand. There are still some great deals on the market, and you can buy much more home than you can build for the same amount of money.
  2. The Federal Reserve plans to taper off its bond buying program starting in October. We all know what that means: higher interest rates.
  3. Flat wages in our economy threaten to make homes less affordable as prices go up faster that income.
  4. Don't wait for the above factors to limit your choices in the future. The better homes in...


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Sedona Honored with Dark-Sky Designation

Tue, Aug 12th 2014 7:00 pm by Wally Reule Events

Sedona has been declared a dark-sky community by the International Dark-Sky Association. This is quite an honor as there are only eight such communities in the world, with six of them being in the United States. Flagstaff, our neighbor to the north, is one of the other communities with this designation.

It came about as a result of the tireless efforts of numerous local governmental entities, business and environmental groups, and Keep Sedona Beautiful, which submitted the comprehensive application. Sedona is a beautiful place to live, and this is just one of the things that will help keep it that way.



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Sedona Real Estate Market Statistics

Mon, Aug 11th 2014 11:58 pm by Wally Reule Sedona Real Estate Market News

After a slow first quarter, sales have rebounded somewhat, but the number of total homes sold is still 8% less than last year.. The median sales price is up about 8%, and the average price per square foot is up about 5%. Sales of luxury homes are still lagging last year, but the big winner is vacant land. Sales and median price are both up significantly as last year's low inventory made people start to think about building rather than buying an existing home. Please contact us if you have questions about any of these. Click here to see the numbers.



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Testimonial from a Happy Client

Sat, Aug 9th 2014 11:15 am by Wally Reule Sedona Real Estate Market News
I just wanted you to know that while this note is long overdue, it is only because I have been busy with getting settled that this delay was caused. 
First, I would like to send you a great big "Thank You" for all the extraordinary ways in which you were of assistance to me in the sale of my home.  You and your staff were always there in "Johnny on the Spot" fashion. 
You, personally went into immediate "high gear"  having photos of the house taken and assembling them in a beautiful format, to getting every thing up and ready on the internet, as well as all the other many ways you developed your personalized sales program.
I also became aware that you skillfully seized  every mom...


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National Night Out in Sedona

Fri, Aug 8th 2014 11:43 am by Wally Reule Events

Sedona residents and visitors are invited to join thousands of other communities nationwide in celebrating the 31st Annual National Night Out with safety presentations and a free community picnic on Saturday, August 9, 2014 from 11:00 a.m. to 1:00 p.m at the Posse Grounds Park, 525 Posse Ground Road, Sedona AZ 86336.

National Night Out is designed to increase community involvement and strengthen partnerships between the community and local public safety agencies. 

Free hamburgers, hot dogs, vegetarian alternatives, chips and water donated by local merchants will be served throughout the evening along with live demonstrations, live music and a wide range of information on public safety t...



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Price Drop on Magnificent Creekside Villa

Tue, Jul 29th 2014 4:11 pm by Wally Reule Sedona Real Estate Market News

We recently dropped the price on this home by $150,000. It's an amazing property for the discerning buyer who appreciates beauty and would like to live on Oak Creek.

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70 East Wing Drive
Sedona, AZ

MLS# 502794 - Residential

Own a piece of Oak Creek, have fabulous Red Rock views & enjoy luxurious, spacious, old world elegance living in this magical Villa. 4628sf main living & 3000sf separate living qtrs on lower level. Beyond quality crafted custom gates, you'll find the ideal personal retreat. Double French doors throughout frame stunning views of Sedona's Red Rocks. Brew a latte in the Espresso Bar room then choose from one of 3 fireplaces to find a cozy seat to nestle into or set...



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Home Prices in Sedona, AZ

Tue, Jul 29th 2014 4:06 pm by Wally Reule Sedona Real Estate Market News

If you're curious about how home prices compare to prices in the state of Arizona s a whole, realtor.com  has compiled some very interesting information including median prices, price per square foot, and more. Just click on the link above to view the information, and when you're done, call us to help you make your dream of a home in Sedona become reality.



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Where Are Sedona's Domestic Visitors Coming From?

Tue, Jul 22nd 2014 4:05 pm by Wally Reule Sedona Real Estate Market News

A few days ago I shared a report from our local Chamber of Commerce on where our international visitors were coming from. Again, these were people who stopped into the welcome center operated by the C of C. The largest group at 12% was from California, followed closely by our own state of Arizona at 10%. I suspect that Arizona visitors may outnumber the Californians, but don't feel a need to stop in the visitor's center. Anyway, after that comes Minnesota and Illinois at 6%, Ohio at 5%, Washington and Wisconsin at 4%, and Florida t 3%.



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Where Are Sedona's International Visitors Coming From?

Thu, Jul 17th 2014 6:33 pm by Wally Reule Events

The Sedona Chamber of Commerce tracks international visitors who stop at the Visitor Center. For the first six months of the year, the largest group came from Canada, with a whopping 54% of the total visitors. Let's see if we can figure out why. Winter months in Canada equal  cold and snowy, while we are blessed with mild winters and beautiful hiking. Hmmm, we may be on to something here. After Canada came England with 7%, Australia and Japan tied at 6%, and Germany and France were each at 4%.



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Phantom Appreciation in Arizona Real Estate

Mon, Jul 14th 2014 11:22 pm by Wally Reule Sedona Real Estate Market News

Click on the link below to see the summer edition of the Russ Lyon Sotheby's newsletter. It's full of interesting information, especially the article on what they call phantom appreciation. Essentially what they are saying is that one of the reasons the median price of homes sold has gone up so much is because the distressed properties offered at bargain basement prices are now practically non existent, so buyers have to pay more for their homes. The article offers statistics for all of the major markets in Arizona, including Sedona.

Newsletter



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Foreign Investors Buying Up America?

Thu, Jul 10th 2014 8:34 pm by Wally Reule Sedona Real Estate Market News

International buyers are helping to keep the housing recovery going. According to an article in CNNMoney two days ago, the two largest groups of foreign buyers are Canadians and Chinese. The Canadians are buying the most properties, but the Chinese are spending more money, with an average purchase price of $591,000. One of the main reasons that we joined the Sotheby's team is because of the international marketing platform that allows us to reach those buyers.



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