Sedona, AZ Real Estate News

By Rick Wesselhoff
(Coldwell Banker First Affiliate)
Buyer activity has been fairly high over the last week.  Lots of lookers seem to be in town, but there's not too many properties going into escrow.  It is a good sign that clients are looking at the amazing deals on properties in the Sedona area.  Between the foreclosures, high inventory, and sellers realizing this and notching prices downward - there are plenty of fantastic deals on Sedona area real estate right now. 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
This has been one of the hottest topics in the world of Sedona real estate for the last 6 months.  As you may or may not know, people in town have been renting their fully furnished homes out to visitors for years.  It's been illegal in name only for a long time - and the city recently has decided to crack down on homeowners violating the law.  It's a city statute that residential properties must be rented out for at least one month.... and there have been lots of people breaking the law for years with little to no negative impact upon the neighbors.  In fact, the one upside is that these people are coming for a longer time, they appreciate the city and learn more about it, and spend more money in our local restaurants, grocery stores, shops, art galleries, etc.  Well, as with other thi...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Buyers!  Good News!  With prices continuing to fall in the condo market, now would be a great time to pick up a condo as an investment property and still have the luxury of using it a few weeks out of the year for yourself! But please understand, that within the city limits of Sedona and within the county there are restrictions and laws governing vacation rentals less than 30 days. The only Condo Association within the County restrictions that allows for less than 30 days rentals is Canyon Mesa Association.  A gorgeous condo assoication with wonderful amenties such as swimming, tennis and free golf -365 days a year.  There are currently two units on the market that have a price point around the 350,000 mark.  They rent on avg around 6 months of the year including vacationa and 30 day re...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
We have just listed a wonderful 3/2 Condo with 1270 s.f., cathedral wood-beamed ceiling, split floor plan with wood burning fireplace and views of Sedona's famous red rocks for $299,000.  The unit is an upstairs end unit away from all main roads....very quiet.  Complex has community pool, spas, BBQ's, Clubhouse and Tennis Courts.  Grocery and amenities across the street.  Access Property website and view virtual tour to see inside of condo, complex and local amenities.  This is a great investment (good rental) and wonderful second home.  Oak Creek Estados is located in the heart of the Village of Oak Creek, Sedona.  Easily accessed from I-75 and Highway 179.WEBSITE: http://www.OCEstadosF9.com
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
The Sedona real estate markete typically heats up starting at the end of February... but with the Super Bowl held in Phoenix this year - we're expecting lots of visitors in early February.  If you're debating on when to put your home or vacant land on the market and you're waiting for spring - you might want to think again.  Try to put your home on the market before the Super Bowl rush!!! www.sedonahomesandland.com 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
It feels like there are buyers out there again...  there are certainly lots of lookers and calls.  They're not all translating into actual sales, but it sure feels good to show properties and see all the interest.  I'd guess that they're looking in the middle and upper ranges but the lower end seems ok too.  There are more properties in the lower prices that need to sell and have dropped prices significantly... so come to town and take your pick.  There's great deals in homes in every price range! www.sedonahomesandland.com 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
I was on our weekly Thursday - Realtor tour of the newest homes on market and I saw something unbelievable.  There's a house in West Sedona priced at $279k... this may not shock you if you're reading this from your home in the Midwest... but 279k for a site built home is unheard of around here.  Two years ago, the lot would have sold for more than that... This shows that times (and prices) are changing... and if you act quickly you'll be able to get a fantastic deal on local properties.www.sedonahomesandland.com 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
I just saw another Short Sale home on the market in West Sedona for an unbelievable low price.  It's a short sale - which means that it will sell for less than the mortgage amount that's owed to the bank.  These are coming up more often and there are great deals in short sales and homes on the market!www.sedonahomesandland.com 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
As mentioned in earlier posts, the upper end of the market is slowing down.  For quite a while there were no homes in escrow over $1M.  There has been a little activity in that price range, but the lower end of the market is starting to move.  My theory is that there are more owners that need to sell in the lower ranges and they're dropping prices more than in the upper prices.  These sometimes significant price drops are inducing buyers to get out their checkbooks and BUY!  I'd guess that this will continue for the next year or so... but we'll get busier.  BUT - this doesn't mean that prices will go up - it just means that we'll sell more homes at good prices... so if you're a buyer - get ready - there are some fantastic deals on Sedona Real Estate right now!www.sedonahomesandland.com 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
Sedona-Verde Valley maxed out at 980 real estate agents when the market was hot... I just heard that with the annual dues coming there will be some major fallout.  The board office is expecting to have only 780 agents this time next month...  We'll probably lose another hundred or so over the course of the year - but this won't affect most buyers or sellers.  These agents might not have sold anything in the last year or two anyhow... As a matter of fact - I heard that there were about 1000 home sales in the entire area last year... so if a Realtor sold one home... he/she was hitting the average.  Ouch...www.sedonahomesandland.com 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
We've recently seen a 10%-15% reduction in inventory in the local real estate market.  This isn't due to sales... but to expiring listings and people tired of waiting for their home or land to sell... so they make it unavailable.  This is a very good thing for the market in general... because when supply tightens, then demand increases (see my Econ 101 professor for an explanation)  There are still lots of great deals to be had in Sedona... and will probably stay this way for the next 6 weeks.  I'm expecting to see some moderately heavy buyer activity this Spring.  This doesn't mean that property values will rise... it means that more sellers will realized they've overshot the market pricing and bring prices down to meet the market demand.  If you're an investor, looking for a second ho...
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
Buyers will welcome 2008 with open arms and hopefully an open pocketbook.  There are great deals on Sedona property all over the map and in every price range.  Make sure that your agent knows what you're looking for and have them do a search for you and cherry pick the best of the properties so that you don't wade through dozens of homes that only fit the price range - but aren't what you're looking for.  Be sure to get preapproved with a local lender so that you're ready to jump on a great home when you see one.  AZ real estate contracts require loan prequalification paperwork at the time you make the offer... so it pays to be prepared in advance.  Happy househunting!www.sedonahomesandland.com 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
Now's the time to get real and meet the market if you haven't done so already!!!  It's impossible for you to have missed the news and commentary on the soft housing market and lender woes.  Although there are some exceptions, homeowners are probably not going to be able to sell their property for as much as they could have sold it 2 years ago.    However, some are still tempted to "test the market" with a price that's not going to garner any buying activity.   With so much inventory and few buyers... this isn't a great method to get a buyer! Often times I'll hear soemthing like "I need to get $500k for this house."  My answer is generally something like this "I'd love to get you $500k for your house, but given the current market conditions I think you can see that this isn't likely to h...
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
2007 was an interesting year for Sedona real estate.  There are statistics compiled here - www.sedonaforsale.com but I'll recap in brief here.  There were several large companies that closed their doors in 2007 and lots of agents that didn't sell a thing.  However, the good news is that there are fantastic deals to be had in the lower price ranges.  There are a fair amount of sellers that are stressed about losing homes, so there are good deals in the under 600k price range.  Homes are still selling if the price is right... but with inventory levels at a 6 year high - pricing with the market won't get it done anymore.  Sellers that need to sell should price their home 10% under the market rate... and watch the buyers flock to see their home.  Feel free to call me or email me with any qu...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
HERE ARE THE AVERAGE HOME PRICES FOR SEDONA AND THE VILLAGE OF OAK CREEKSEDONA - $551,00018 MONTH ABSORPTION RATEVILLAGE OF OAK CREEK - $507,00018 MONTH ABSORPTION RATE FOR ALL YOUR BUYING AND SELLING NEEDS IN SEDONA - PLEASE REMEMBER BARBARA BAKER AT REMAX SEDONA
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By Jim Bacon
(Pillar To Post)
The start of the new year provides a backdrop for the expansion of our service from the TRi-Cities/Prescott area into the Red Rocks area of Sedona and the Verde Valley.  In support of this growth move, we have joined the SVVAR and begun to market our services to the Realtors of the area.  Until demanded by business pressure, I will personally be handling service in this new market area. 
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
The Sedona Land Market reached unprecedented heights in the boom... and has made a tremendous turn downward.  Our average land price is holding at around $300,000 compared to the high of $500,000. However, for those investors who want to pick up a piece of our red rock country... there are some GREAT bargains at the $200,000 or below pricing.  Call me or email me any questions.  800-975-5943 or barbara@verdevalleyproperty.com
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By Marcia Caldwell
(Hague Partners Real Estate Services)
skip to main | skip to sidebar Love Vacation Homes  Monday, October 15, 2007Love Vacation Homes  For the greater part of the last decade, I have been passionate about all aspects of vacation homes, beginning with seeking out villas, cabins and condos privately owned for family getaways. The decision to purchase a true cabin in one of the most scenic, possibly sacred, definitely sought-after place to visit on the planet began a now nearly comprehensive educations and loves I share with a whole lot of you. My husband and I saw this "rustic" cabin, built in 1960 and used by the family who built it until we bought it on our first showing in July 1998. We have enjoyed owning, renovating and renting it, and dealt with numerous frustrations along the way. Meanwhile, I have marketed and sold ev...
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So what do you do when your car won't start?  Here's what I did: I solicited my "oh-so-qualified" friends on Active Rain and they coached me through a jump start. No injuries even!Several months ago when I was out here the Jeep Wrangler had a clutch issue.  It was a fiasco.  We dropped the Jeep off at Canyon Auto, just off of Coffee Pot Drive in west Sedona.  Jim Mclaughlin was a super hero.  He fixed it up straight away and arranged for my friend and landscape artist, Mathew Crozier to pick it up for me and park it in the garage.  Well, today when that Jeep didn't start and after the whole jump start thing I drove it straight back to Canyon Auto for the battery to be checked.  It was basically a boat anchor and needed swapped out.  To my horror, Jim who is the size of a giant and a big...
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By Calie Waterhouse, Community Builder
On Father's Day, we decided to take a drive. We flipped a coin and decided to head north. (It certainly must be cooler up there!)...We drove for a little while and came across this great education opportunity called Montezuma's Castle.  This is the Sinagua legacy.Part of the National Park Service, this structure is nothing, except Absolutely Amazing!  This is an entire village that was built into the side of the mountain.  There is a minimal admission fee, but it's worth it.  We spent about an hour at Montezuma's Castle just walking around and taking pictures.   WOW!A few miles north, is Sedona Arizona.  While I must admit, Sedona's going through some "growing pains" - the road construction is extensive, but in no way impedes the beauty of the red rock. Sedona is a new age, artist colon...
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