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Pre-Qualification is Important Before You Begin your Home Search

Thu, Oct 17th 2013 2:10 pm by Wally Reule Sedona Real Estate Market News

When you decide to purchase a new home, it's important to know what your budget is, and to be able to demonstrate to sellers that you have the wherewithal to make it happen. Pre-qualification can be a letter from a lender, or proof that you have the funds available, but you need it in order to make an offer. And in most luxury homes, you won't even get in to see the home without it. So when you get serious about looking for a new home, make sure this is done early in the game.



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Tips for a Smooth Home Loan Approval

Mon, Oct 7th 2013 4:18 pm by Wally Reule Sedona Real Estate Market News

Applying for a home loan has the potential to create additional stress, so here are some tips to help smooth the process. Many of these are pretty self evident, but others may be less so.

  • Stay in your current home and keep making the payments
  • Don't quit your job
  • Don't change bank accounts
  • Don't make any major purchases
  • Don't open a new credit card
  • Don't close a credit card account
  • Transfer credit card balances or consolidate them
  • Max out a credit card
  • Stay current on all of your payments
  • Don't open a new cell phone account
  • Buy new furniture or start a home improvement project

Use common sense while awaiting approval. Business as usual is a good rule of thumb.



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How the Government Shutdown May Affect Your Real Estate Deal

Fri, Oct 4th 2013 4:54 pm by Wally Reule Sedona Real Estate Market News

We hope that the government shutdown doesn't last very long, but you never know. In case you are in the middle of a real estate transaction, or are considering one, here is what you need to know by department

Internal Revenue Service The IRS is closed and is not processing any forms (I know, sad but true!), including requests for tax return transcripts.We have heard that some lenders are allowing for processing and closing with income verification to follow if the borrower has signed a Form 4506T requesting IRS tax transcripts. Still, expect some delays.

Federal Housing Administration The FHA will continue to endorse new loans in the Single Family Mortgage Loan Program, but will not mak...



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The Ghost of Real Estate Past

Thu, Oct 3rd 2013 6:31 pm by Wally Reule Sedona Real Estate Market News

As our beautiful Sedona Autumn gets underway, I imagine that the Ghost of Real Estate Past is now visiting our clients who have been "waiting for a better deal to come along for Sedona Real Estate". The Ghost is advising them to start laying in provisions for a long winter night, because homes in Sedona are getting harder to find, prices have increased, and interest rates are going up. Not that there aren't any good deals to be had. There are, but they just cost more now! And based on what's been happening  in our market, they will cost even more next year. Fall is a busy time for us, so if you're considering a home in the Verde Valley, don't put it off. Contact us today.



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Jan Bigelow and Wally Reule Moving to Russ Lyon Sotheby's International Realty

Wed, Oct 2nd 2013 5:11 pm by Wally Reule Sedona Real Estate Market News

We are pleased to announce that we are moving to Russ Lyon Sotheby's International Realty. It was a difficult decision because we've had a great relationship with Realty Executives, but we felt that with the resources available through Russ Lyon Sotheby's we would be able to serve our clients even better. Check out our new featured listings. They're great!



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Home Starts in August Weaker Than Expected

Mon, Sep 23rd 2013 12:32 pm by Wally Reule Sedona Real Estate Market News

One reason that Federal Reserve policy makers decided not to raise interest rates this month is because home starts nationally were lower than expected in August. The Fed wants to maintain the stimulus to economic expansion. Homebuilders see this as a temporary slowdown, and do expect home sales and interest rates to continue to rise in the near future. So if you're thinking about financing a new home, you have a temporary reprieve from higher interest rates.



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Laura Pennington wins Open House Drawing

Wed, Sep 18th 2013 7:54 pm by Wally Reule Events

Laura Pennington of Coldwell Banker First Affiliate was the Lucky winner of the $50 drawing among agents visiting our Sedona Real Estate Listing at 2296 Roadrunner Road on the home tour. We are fortunate to work with so many amazing real estate professionals in Sedona, and it's nice to be able to say thanks this way. We hope you have fun with your winnings!



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Great Deal on a Vacant Lot in Rimrock

Mon, Sep 9th 2013 3:08 pm by Wally Reule Sedona Real Estate Market News
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6302 N Avatar
501837 - Land
Rimrock, AZ

It's all about the view and the privacy!! Panoramic views of the valley below from this lot. You Face east overlooking the ranches below. There is a slight rise in the land from the street.This property perched at the highest elevation in the neighborhood, is perfect for the client who wants a remote and rural lifestyle. Lot offers privacy from neighbors, peace, quiet, and panoramic views. Create your own mini farm. Garden to your hearts content! Enjoy the desert storms as they roll through the Valley below. Property is within 15 minutes of shopping etc. Bring ALL OFFERS!!

Jan's newest listing, absolutely priced to SELL!



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This move-in ready home is a great deal!

Sun, Sep 8th 2013 4:09 pm by Wally Reule Sedona Real Estate Market News
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2296 Roadrunner Rd
501770 - Residential
Sedona, AZ

This well maintained move-in ready home has what everyone wants; i.e. red rock views from the living, dining and master bedroom and back patio, as well as a split floor plan, and 350 sq. ft. studio. This sweet territorial has Saltillo tile floors and counters throughout, cathedral ceiling in the living room, and a fireplace. Your pets are safe in a 6' fenced-in shaded dog run that runs the length of the house. Roof replaced in 2006. Entire drip system has been inspected to ensure proper coverage, and a new timer installed. The home has been pre-inspected and has a home warranty in effect through May, 2014.

Homes with views for under $...



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Getting a House Ready for Listing

Thu, Aug 29th 2013 8:20 pm by Wally Reule Sedona Real Estate Market News

Jan and I make sure that our listings show well, and are ready to be a home to the new owners. For example, the home that we just listed on the MLS yesterday got a real face lift, including new landscaping, deep cleaning and resealing of the Saltillo tile floors, new ceiling fans and minor repairs as needed. We also had the home pre-inspected so there wouldn't be any surprises during the inspection phase. The home looks great and is ready to move into, and we expect it will be off the market within a week.



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Median Sales Prices for Single Family Homes Way up in 2013

Mon, Aug 12th 2013 7:16 pm by Wally Reule Sedona Real Estate Market News

The median sales price for homes in Sedona for the first five months of 2013 is up 26% over the the median sales price for the same time frame in 2012. This price increase is influenced by the fact that most of the good homes under $300,000 are gone, or quickly snapped up as they come on the market. What remains are higher priced homes, so people are buying up! Actual prices for comparable properties are up about 17%.



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Housing Price Increases Will Slow Down

Thu, Aug 8th 2013 12:07 pm by Wally Reule Sedona Real Estate Market News

rices for homes in Sedona have been increasing by double digits, but that is expected to slow in the coming months. According to a recent report based on the CoreLogic Case-Shiller home price index, prices are expected to increase by 6.5% by March, 2014. There are still some great values in real estate in Sedona.



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Monsoons in Sedona

Tue, Aug 6th 2013 10:50 pm by Wally Reule Events

It's Monsoon Season in Sedona, and it's been a good one. In the months of July and August, we get beautiful soaking rains that quench our thirst after a dry May and June.. They usually happen in the afternoons, and provide a nice change to the normally warm and sunny days of early summer.



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Community Involvement with Sedona Wish List

Sat, Jul 27th 2013 7:18 pm by Wally Reule Events

Sedona Wish List is an organization started by a retired real estate broker Barbara Vickers. It accepts no advertising, and its function is to connect the community to our various service organizations. If you are looking for ways to contribute to the community, check it out here.



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Jan Named a Sedona Top Agent

Sat, Jul 27th 2013 6:51 pm by Wally Reule Sedona Real Estate Market News

Jan has received special recognition as one of Sedona's top agents for the first 6 months of this year. Statistics used to determine the top agents come from the Sedona Verde Valley Association of Realtors. It's a great honor to make it on to this elite list. Check it out here.



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New Home Sales Booming

Wed, Jul 24th 2013 11:14 am by Wally Reule Sedona Real Estate Market News

According to the Commerce Department, new home sales nationally hit a five year high in June. And that is an increase of 38.1% over last June. In Sedona, most sales are still of existing properties, but the number of new homes for sale is definitely on the rise.



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Higher Interest Rates Having Little Effect on the Market

Mon, Jul 22nd 2013 3:46 pm by Wally Reule Sedona Real Estate Market News

Interest rates keep inching higher, and currently stand at about one percent higher than their historic low a couple of months ago, but sales continue to be strong. The National Association of Home Builders announced last week that their housing-market index is at it's highest level since January, 2006, and we all remember what it was like then! Additionally, the index showed a .5% increase in purchase applications.



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Interest Rates on the Way Up

Mon, Jun 24th 2013 7:48 pm by Wally Reule Sedona Real Estate Market News

Interest Rates are on the rise! According to Freddie Mac, the average rate on a 30 year fixed rate mortgage has gone up from 3.3% in early May to 3.91% now. Historically speaking, these are still great rates, but if you're considering a financed real estate purchase in Sedona, don't wait for interest rates to come back down. It's not likely to happen. Most experts agree that they will continue to climb back to the 5.5% - 6% range in the next couple of years. And with the prices of Sedona homes going up, the longer you wait, the more it will cost.



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Tips for Buying Real Estate in our Hot Sedona Market

Wed, Jun 19th 2013 8:24 pm by Wally Reule Sedona Real Estate Market News

If you want to buy a home in a hot market like Sedona, you'd better be ready to get into the game. These seven tips recently appeared in Realtor.com, and they are great advice!

  1. Get pre-qualified for a mortgage if you plan to finance your purchase. If you wait until you find the home until you start to get pre-qualified, your home may be gone before you can make an offer
  2. Stay in close contact with your real estate agent to find out about new listings.
  3. Look for new listings yourself. Look online, in newspapers and drive the neighborhoods.
  4. Make up your mind. He who hesitates is lost!
  5. Make a competitive offer from the get go. A low ball offer might not even get a response.
  6. Keep the of...


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Luxury Home Sales in Sedona Taking Off

Thu, Jun 13th 2013 8:38 pm by Wally Reule Sedona Real Estate Market News

We all know that homes priced under $400,000 have been flying off the shelves for the past year, but what about the Luxury Homes? Well the good news is that sales of homes priced over $1,000,000 are also increasing. In fact, we have already sold as many Luxury homes in the first half of 2013 as we sold in all of 2012. As I reported earlier, Jan and I listed a home in April for over $1,500,000, and we had an accepted offer in two days. If you're considering buying or selling a luxury home in Sedona, give us a call.



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