There were several real estate news releases this week. None grabbed the headlines. Perhaps that is because real estate was overshadowed by Wall Street this week. Perhaps it was because there was little new in the real estate reports. Still, a 10.7% drop in resale home prices from August 2007 to August 2008, and a 17-year low in new home sales volume would have grabbed some headlines on even an active news day, if they were news. But this has started to be so repetitive, month-to-month, that the normal news outlets don't seem to follow it. Here is are my posts from Flagstaff about the three real estate reports of the week: Office of Federal Housing Enterprise Oversight Releases July (yes, July) Numbers National Association of Realtors Releases August Numbers New Home Sales and Construct... 09/25/2008

Don't underestimate the power of a single vote! Remember, our current governor was elected in 2002 by a margin of barely 400 votes. Friends don't let friends not register! If you have moved since you last voted, you need to register again! And ask for a vote by mail ballot. Registration deadline is next Tuesday! 09/25/2008

Here are some articles you may be interested in if you live in Flagstaff, AZ (or want to).  Also, take note that his is the famous "Open Studios" weekend, when you can get a map and drive around our beautiful mountain country to visit the studios of local artists. Flagstaff Civic Events on Saturday -- locals may want to put these on their calendars Financial Crisis Hard to Comprehend -- Where did it begin? Not with real estate Featured Flagstaff Home Listing! -- a rare log cabin in the pines offering Have a great Flagstaff weekend!  To buy or sell Flagstaff real estate, contact Team Heitland at RE/MAX Peak Properties. 09/19/2008

In my last post, The Big Bailout -- Where Did It Come From?, I talked about the Fannie Mae/Freddie Mac takeover by the U.S. Treasury.  Boy, that seems like a long-time ago. This has been a long week marked by Lehman's bankruptcy, Bank of America's bailout of Merrill Lynch (a long-term coup for Bank of America, no doubt), and AIG's crisis -- which is a huge worldwide problem (not that Fannie and Freddie weren't). Meanwhile, homebuyers are really sitting on the sidelines, frozen in panic, perhaps. Don't freeze. Think rationally. What steps can you take to secure your future? If you have an ARM, or any home loan at a 6.5% or better interest rate, consider refinancing NOW: If You Have An Adjustable Rate Home Loan, It Is Time To Refinance Into A Fixed Loan. Become an informed voter. The choi... 09/18/2008

  So what's up with the Flagstaff market through September 08? Well, it's pretty much an extension of the same thing. So far, Flagstaff Real Estate is down less than 10% from the market top. I must admit that I have a hard time believing it as one would tend to think that prices should be much lower given the economic times. At any rate, it is what it is. Let's see what October brings. Thanks for viewing.   FLAGSTAFF MARKET SNAP SHOT SEPTEMBER 08*    CALENDAR YEAR AVERAGE PRICE MEDIAN PRICE AVERAGE DAYS ON MARKET ANNUAL UNITS SOLD MEDIAN % CHANGE FROM MARKET TOP 2006 $458,116 $392,500 91 528 MARKET TOP 2007 $436,511 $375,000 108 479 -4.4% 2008  YTD THROUGH MAY $414,600 $356,250 132 146 YTD -9.2% 2008  YTD THROUGH JUNE $426,711 $362,500 120 196 YTD -7.64% 2008  YTD THROUGH JULY $415,423 ... 09/10/2008

I've been writing a series of posts about the Housing and Economic Recovery Act, which became law in July. This is what Congress calls an "omnibus" bill --- because it had so many provisions. Some got more publicity than others. At the time the law was passed, the authority to take over Fannie Mae and Freddie Mac was not given a lot of emphasis -- Treasury Secretary Paulsen said that authority was unlikely to be used.  A mere six weeks later, they were used to perform the largest government bailout in a long time. See full story of the take-over by the Wall Street Journal. The initial market reaction on Monday was great for homeowners seeking to refinance and for buyers who -- at least briefly -- saw the lowest mortgage interest rates in a year.   Whether that will continue even 24 hour... 09/08/2008

It's the first Friday of the month and in Flagstaff that means its Artwalk time. Scores of galleries will be open Friday night in downtown Flagstaff. The BIG event of the weekend is the Route 66 Days celebration and car show. For details on these and other things to do in Flagstaff this weekend, visit Weekend Fun in Flagstaff If you hear of anyone who would like to buy or sell Flagstaff real estate, have them give us a call! Have a great weekend! Team Heitland at RE/MAX Peak Properties serves Flagstaff area residential real estate buyers and sellers.   09/04/2008

The annual Labor Day party at Forest Highlands this year was the best so far. Once again, the Flagstaff weather threatened to force everyone inside, but the rain stopped just in time for the party to begin. Members and their families were treated to an international buffet consisting of traditional BBQ fare, Greek sandwiches and salad as well as a taco bar featuring delicious pork tacos. Dessert was Forest Highland's signature brownies that are always a hit. People of all ages were spread over the Canyon Clubhouse and driving range. There were games and activities for the little ones as well as the huge expanse of the driving range to run and play on. Adults had the opportunity to mingle and catch up with each other before the official end of summer commenced. The highlight of the party... 09/03/2008

Within the past week, the National Association of Realtors, the Office of Federal Housing Oversight, and Standard & Poor's Case-Schiller all released their statistical reports for real estate sales in the second quarter of 2008, creating a number of newspaper articles and media stories. In Flagstaff, the news was moved to the second page and was much less sensationally reported than in most reports over the last year -- probably because it was less sensational. Flagstaff home prices continue to fall, but they are falling quite slowly, and compared to other areas of the State of Arizona, and nationally, have not fallen as dramatically. The news here is that units sold remain low -- sellers are still sticking to their prices and buyers are not buying. Here are some more details on the rec... 08/28/2008

This is a big event -- the 59th Coconino County Fair -- and it's happening in Flagstaff this weekend! The image at the right says it all. Livestock, carnival rides, music, politics and art. (Ok, I'm waiting for the comment asking which candidate is the central picture.) But the fair is not the only thing happening in Flagstaff this weekend, where we're scheduled to have the best weather in Arizona -- as always! There will be two special art events, including a three-day art and craft fair downtown, and two great musical concerts, on each Sunday and Monday. Heritage Square downtown will be hopping on Friday night with the usual musical prelude to the Friday night outdoor open-air movie. For a list of my suggestions for your weekend fun in Flagstaff, click here. If you want to buy or sell... 08/28/2008

You can find plays, musicals, art openings, and outdoor concerts and movies in Flagstaff this weekend. There are also several great exhibits at the Museum of Northern Arizona, including these two favorites: Navajo Code-Talkers THERIZINOSAUR - Mystery of the Sickle-Claw Dinosaur If you wanted to see the Arizona Cardinals pre-season play and haven't yet, you've missed it. But Northern Arizona University Athletics are back in full swing. For links to athletic, music and cultural events in Flagstaff, AZ this weekend, click here! If you'd like to buy or sell Flagstaff real estate, call Team Heitland at RE/MAX Peak Properties. Have a great weekend in Flagstaff! 08/22/2008

Flagstaff good citizens did it again -- for the 5th year in a row the Annual Climb to Conquer Cancer is SOLD OUT! Large groups of of people will be climbing up Snowbowl Road tomorrow a.m. (it's a seven mile trek). Although it's too late to register to join them, it's not too late to contribute to this great cause. Click here for my entrant page. The Arizona Snowbowl's Skyride will be closed until afternoon on Saturday to accomodate the traffic involved with the Climb event. There are many other things going on in Flagstaff this week-end, starting tonight at Heritage Square with music and a movie. There is a children's fair at Wheeler Park on Saturday. The Navajo Code-Talker Exhibit will be available at the Musuem of Northern Arizona. For these and many other events going on in Flagstaff... 08/15/2008

I'm back to beautiful Flagstaff, Arizona. Went to California last week. San Diego was nice, but hot and humid compared to our lovely town. At the beach the temperature drops precipitiously as you approach the beach (that is, after you have already walked some distance on the hot beach!) Driving back, we came through the celebrated San Bernadino mountains and down into Palm Desert. It all looked hot and burned out to me. The overlook that we chose to stop at had very similar Native American legends to what we see in the Flagstaff region. I will say this for the route -- it's better than going through Yuma and the border patrol stops on I-8, although it takes longer. As we rose toward Flagstaff from the Kingman area, the land around us began to green. And my favortie sunflowers appeared. ... 08/14/2008

The Arizona primary election (for state and federal offices other than President) is September 2. Today is the last day to register to vote in that primary. You must be living at the address reflected in your registration form (no one can "live" in a post office box!). If you live in Flagstaff, go to the County Elections Office before 5 p.m. You'll find it at 110 E. Cherry in downtown Flagstaff. You can also change your registration address on line at http://servicearizona.com. If you don't register today, you'll not have a voice in who are the candidates in November to replace the indicted Republican Congressman Rick Renzi of Arizona's Congressional District 1. Make your voice heard! 08/04/2008

I am. The President had barely had time to recover from signing the Housing and Economic Recovery Act of 2008 (which he did behind closed doors since he had opposed it for so long and then decided his veto would be over-ridden, so he better just go along), when some Congress-persons got whipped into introducing a bill to amend the new law.  That's because the new law will basically destroy Nehemiah Corporation and similar private downpayment corporations that have been established in recent years to funnel seller money back to buyers, disguised as "gifts" from these private corporations. This allows the buyers to claim the money as downpayment funds to meet the FHA 3% minimum (soon to be 3.5%). These mortgages have had huge default rates, so Congress decided to eliminate them. Yes, not ... 08/03/2008

Have you found any flowers that bloom in the dead of night?   People who live in Arizona are referred to as a "Zoni".  Because of the cooler weather, "Zoni's" love San Diego!  However, most "Zoni's" who work just prefer to head to northern Arizona every Friday to enjoy the cool pines.  The trip from Surprise (Sun City Grand) takes about 2 hours.  Leaving the 100 plus degree weather and entering into the 65 degree weather is a delightful change.  The elevation is about 7,500 ft.  I found this flower blooming at about midnight last night in Northern Arizona.  I believe that this plant is indigenous to Arizona and can be found above 6,000 ft. in altitude.  It grows on a vine and requires a substantial amount of water because I found it in creek beds.    One of our neighbors told us about t... 08/03/2008

It's always a great weekend in Flagstaff, and this one will be no exception. There is some rain in the forecast -- probably in the afternoons, so bring some rain gear for outdoor events. I'm going to be resting up between trips this weekend (and catching up on my real estate work!) so I probably won't be out and about except to do my Saturday morning precinct walk commitment. If I were going to be doing fun things about town this weekend, it would be one of these great Flagstaff events: Ann's Picks for Flagstaff Things to Do This Weekend Have a great weekend in our wonderful mountain town! If you want or need to buy or sell in real estate in Flagstaff, contact Team Heitland at RE/MAX Peak Properties. Or, if you just want to get away from it all, take a hike: This photo is on the Mt. Hum... 07/31/2008

Like many, you are probably hearing bits and pieces of news about the Housing and Recovery Act that became law this week. There are a lot of "bits and pieces" -- it's a big law that covers lots of topics, from financing to foreclosure relief to vacation home tax issues. Over the next week or so, I'll be writing a number of individual blog posts that you may find of interest. I'll be connecting the implications of the new law to the Flagstaff real estate market and Flagstaff home buyers and sellers. Two topics that I know I will be covering are the "first-time buyer tax credit" (which is really a loan that you have to repay to the feds!) and the vacation home tax changes - which will not help the Flagstaff real estate market. Here's the first post: Details on New Law's Tax Credit for Fir... 07/31/2008

Hi Everyone: Debbie and I would like to take a minute of your time to introduce our new custom Flagstaff real estate website.   You can find us at www.FlagstaffHomesAndLand.com (it's the same web address but a totally new site).  We would greatly appreciate it if you would be so kind as to visit the site and let us know your thoughts-both pro and con.  So far the comments have been very good with most people enjoying our MLS search which features large photos, street mapping, and satellite views of the neighborhood. Also, our listings have big photos and more.     In the meantime, make it a great August and don't forget to comment. Warm Regards Gregg Munson 07/31/2008

I'm exhausted and energized -- and I'm back in Flagstaff from the Star Power Conference, which was held in Orlando FL this year. Because it was in Orlando, we met the kids and did 5 days of family fun in advance of the conference. Then they went home and I went to work. The conference is one huge mastermind group -- not that I've ever been in a mastermind group, but I keep hearing chat about them. "Stars" -- 175 of the best real estate agents in the country -- share their ideas and experiences for an intense 3.5 days of general and breakout sessions. I highly recommend this conference. Last year was my first and the second year was just as good, even though I chose to attend entirely different breakout sessions this year. On the trip back yesterday, I spent six hours of plane, and waiti... 07/29/2008