Perspective on the Real Estate Market Here is a little graphic presentation that I ran across in yesterday's Wall Street Journal. It was part of a larger point the author was making about the credit markets and corporate leveraged buy-outs.  I've cut the piece related to the housing market. To me, this demonstrates that things aren't as bad as one would think from listening to the radio or reading the newspapers. It's bad for those short-term arbitragers who made risky bets in the last couple of years. For the average homeowner, in the "market" (also known as one's home) for the long-term, it's looking pretty good: The median price graph looks like a hump with a normal correction, still trending upward, to me. This rise in median prices is national and, therefore, does not reflect the w... 08/11/2007

You can have fun and also make a contribution to the Flagstaff community - or you can just have fun. Either way, it'll be a great weekend in Flagstaff. Friday night, if you're a runner or a walker, you can carb-load for the runs and walks on Saturday to benefit Big Brothers/Big Sisters of Flagstaff. Pasta dinner will be served Friday at Thorpe Park at 6:30 p.m. Dinner is free to participants in the Annual Half Marathon and Fun Run, and donations are accepted for the meals of family members who join the runners and walkers.  If you want to walk the half marathon (13.1 miles at 7000 feet!), you'll start at 6 a.m. on Saturday and do a course beginning in Wheeler Park in downtown Flagstaff and including the top of Observatory Mesa, overlooking Flagstaff. The runners' half marathon starts at... 08/09/2007

I am looking at headlines saying "stocks tumble on subprime woes."  This a.m., there was an NPR talk show, Diane Rehm, on the subprime issues. If you have a chance, listen to it on line. It was a good, well-balanced panel. One of the things I heard was that in 2005-2006, subprime lending added a little over 2% to the total homeownership market in the U.S.  Predictions are that as many as half of those loans will be foreclosed. That means, according to this commentator (link above to the show), that homeownership will have improved by 1% as a result of the subprime lending. What I take from this is that subprime lending was a good thing for the housing market, and still is, but that it may be a rotten thing for those mortgage investors who made risky loans. And that while those mortgage ... 08/09/2007

My Opinion on Buying a Home Now In Flagstaff, AZ As mentioned in one of my blog posts last week, we are seeing the impact of mortgage investor uneasiness on "prime" not just the sub-prime borrowers.  These mortgages exceed the $417,000 limit for loans eligible for purchase and guarantee by Fannie and Freddie. They account for about 16% of the total mortgage market nationally, but perhaps for a higher percentage in places like Flagstaff where homes are more expensive than the national average. This morning's Wall Street Journal, page 1, reported that lenders were charging an average 7.34% for prime 30-year fixed-rate jumbo loans yesterday, according to a survey by financial publisher HSH Associates. That is up from an average of about 7.1% last week and 6.5% in mid-May. These rates are s... 08/07/2007

Yahoo!  I did it! I'm the first EcoBroker Certified broker in Flagstaff, AZ. I took me from April to yesterday to complete the on-line coursework. I learned some good stuff and have saved lots of resource links. Now, let's see what I can do with it!For Flagstaff homes -- Eco and otherwise -- contact me!  08/06/2007

Lowell Observatory in Flagstaff Discovers Largest Known ExoplanetWe here in Flagstaff (the non-scientific types) think of Lowell as that nice museum atop Observatory Mesa. Really, it's a hotbed of scientific research. Today, Lowell announced that its astronomers have discovered "TrES-4," the largest known exoplanet. TrES-4 is about 70% larger than Jupiter, the largest planet in our solar system. This is a computer-generated simulation of TrES-4, with its host star on the right.  Compliments of Lowell Observatory.  Don't panic, however. Tres-4 is 1400 light years away from us. (Probably, if it were closer, someone would have noticed sooner, huh.)  For more information about TrES-4 and Lowell's discovery work leading to this announcement, Click on this link for real estate cl... 08/06/2007

Are you looking for something to do tomorrow, on a rainy Sunday afternoon in Flagstaff? If you're not working tomorrow, like I will be in Flagstaff real estate, I suggest the 58th Annual Navajo Festival of Arts and Culture at the Museum of Northern Arizona. This great Flagstaff event will resume at 9 a.m. Sunday morning and continue to 5 p.m.  If you happen upon my buddy Courtney, one of the docents, say hi from me.Meanwhile, I'll be working on Flagstaff real estate.Festival poster as displayed on musuem's website is by artist W.B. Franklin Like this post? Subscribe to the feed for future posts: 08/04/2007

Home Prices Unquestionably Trending Down in Flagstaff But Sales Volume Holds SteadyOverall, the Flagstaff market held steady in July, according to statistics of the Northern Arizona Association of Realtors.® The number of homes for sale in the Flagstaff market broke the 1000 mark as we crossed into July and was exactly 1000 on August 3. The pace of sales also held steady in July - 133 homes in the greater Flagstaff area were sold in July, almost exactly the same as in June, when 136 homes sold. This continuation in sales was achieved by an $8000 drop in the median price of homes sold, or 2.6% in the single month.  (These numbers include all types of units - single family, townhomes, condos and manufactured homes.)The median price drop in for single family residences was even more dramat... 08/03/2007

Friday, August 3, 2007 - What a great night to be in downtown Flagstaff!  This is the night for First Friday Art Walk. Art galleries throughout historic downtown will be open for browsing and many will serve appetizers/snacks to entice the strollers inside. The Artist's Gallery at 17 N. San Francisco has some pictures on display of one of the recent First Friday Art Walks as seen inside their establishment. Heritage Square will be hopping on Friday as well. The "hoopla" there begins at 6 p.m., including live music and various displays the movie of the night begins at dusk. This week it is a dragon-slayer movie: Eragon (2006)If you want to get a little head start on the weekend downtown, you can visit Heritage Square for live music on Thursday night from 5 p.m. to 7 p.m. when the Sir Har... 07/31/2007

Monday, July 30th, 2007 at the you may enjoy the 8th Annual Taste of Flagstaff. This event brings together most of the best restaurants and catering services to support the non-profit Victim/Witness Services for Coconino County. VWS for Coconino Country provides advocacy and counseling services for victims of crime throughout Coconino County. It is also the founder and nuturer of the Northern Arizona Center Against Sexual Assault.  This year, the event is in a new venue -- in and outside (in tents) the Kilted Kat at 2640 W. Kiltie Lane, Flagstaff, AZ. The price is $65. Please call in advance to 779-6163 to reserve your tickets -- space is limited. If you see a home you'd like to buy on the way, give us a call: (928) 714-0001Ann Heitland, Associate Broker, RE/MAX Peak Propertieswww.BestF... 07/29/2007

This Sunday in Flagstaff -- The Arizona Cardinals training camp begins! It is now very close.  Click here for a link to the Cardinals Training Camp schedule -- the first outing is Sunday, July 29 from 1 p.m. to 3 p.m.  Now, we just need a sunny afternoon!For more fun things to do in FlagstaffFor Flagstaff Real EstateIf anyone asks for a home in Flagstaff while you are at the fun, have them give us a call: (928) 714-0001.                    07/27/2007

This Flagstaff real estate agent, and most of her team, attended opening session of the Annual Star Power Conference yesterday afternoon -- they gave us previews of sessions to come and an inspirational message (good music!). Then, we Newcombers, got a reception with the Stars. Cash bar and half-baked hors d'oeuvres.  But being up close and personal with the Stars was worth it. I chatted with 4 of them, and learned a tidbit of value from each! Mike Parker, Florence Kentucky, suggested the 40/12 rule as an alternative to the 3 Action Item rule generally espoused at the conference.  Here it is: You're going to have 40 ideas (or more) that you note. From these, you'd normally pick 3 and implement them. Instead, pick 12. Aim to implement 1 per month. Here's the incentive: when you've done o... 07/26/2007

I know lots of others on Active Rain have posted complaining about the media. Generally, I don't have a problem with them - they have their business, we have ours. But I need to comment on an article that appeared yesterday in our local paper, the Arizona Daily Sun, concerning the Flagstaff market.  The headline was "Condos, Townhomes Hot Items This Summer."  So far so good, but not actually news.  In our resort/university community, townhomes and condos are always popular with second home owners and students.The lead sentence, however, went too far: "Townhouse and condo sales are dominating the summer real estate season."   Dominating? I checked the MLS stats according to sales reported to the Northern Arizona Association of Realtors® (yes, not all sales, but a good representation).   ... 07/23/2007

The Arizona Daily Sun reported today that the proposal to raise homeowners' association fees in stepped increases over the next few years has hit some resistence. On the other hand, some homeowners support it. The Daily Sun article also points up some interesting historical info -- such as that when the Association was turned over to the homeowners by the developer in 1993 (that recently?), the HOA assumed a $750,000 debt. The arguments for the increase are contained in the HOA July Newsletter.More info on the upcoming August 25 meeting (voting permited in advance) at my earlier blog on the topic: Call for DirectorsClick here for more on the Country Club neighborhood in Flagstaff.Ann Heitland, RE/MAX Peak Properties, Flagstaff, AZLike this post? Subscribe to the feed for future posts: 07/22/2007

Thinking of replacing a window or door in your home? Perhaps your hot water heater is percolating and has been around a few too many years? Now is the time to consider replacement because if you have it done before December 31, you'll get a tax credit (not just a deduction) for doing so. This means you take the dollar amount right off the check you would otherwise write to Uncle Sam (or he adds it to your refund).At right -- a solar heating system control -- you don't need to get this complex to get the credit!Tax credits are available for many types of home improvements including adding insulation, replacement windows, and certain high efficiency heating and cooling equipment. See chart. The maximum amount of homeowner credit for all improvements combined is $500 during the two year pe... 07/22/2007

The Flagstaff Aquaplex is scheduled to open in late Spring or early Summer 2008 and is well under construction on the southside of the 4th Street bridge in Flagstaff. Amenities will include a multi-activity gymnasium, weight and fitness area, aerobics/dance studio, a large community meeting room with catering kitchen, an elevated walk/jog track, a babysitting room, a game area, a party room, a climbing wall, and a state of the art leisure pool that includes two indoor/outdoor body slides, current channel with over-pour for kayaking, family whirlpool, and a beautiful natatorium. Here is a floorplan:      The architect's (Barker, Rinker, Seacat) rendering of the exterior is a conceptual drawing of the exterior only, before materials were finalized. But here's the idea: This week, City Par... 07/21/2007

I've been working with Realtors, providing closing and marketing gifts, for the fifteen years that I've been in the corporate gift business.  The first week of August, I will be a member of the faculty for the National Gift Basket Conention in Orlando the first week in August.  I'll be teaching clases about how to build e-commerce websites that work.  I will also be competing against seven others for the title of "Designer of the Year."  Cross your fingers for me and wish me luck!  I will need it.  The competion for this desigination is keen as it is limited to the "best of the best" designers from the previous year's Convention.The tradeshow portion of the Convention will give me the opportunity to search for new and different products and ideas to help me better serve the Real Estate ... 07/21/2007

07/18/2007

Any members out there seeing/hearing anecdotal evidence of a market shift? I've heard from two sources that building is picking up again around town. This morning, the Wall Street Journal reports that national statistics for June "home construction unexpectedly rose, after two straight months of decline, but a plunge in building permits indicated the upturn might be short-lived."  Could the housing market get anymore confusing?While the Flagstaff real estate market rarely tracks the market in other parts of the country, I'm willing to say that on one issue there is a correlation -- the real estate market is sending mixed signals. See my post earlier this week Prices Are Falling! (A Bit) (Maybe).For real estate in Flagstaff. 07/18/2007

Cardinals Training Camp in Flagstaff The Cardinals will prepare for the regular season on the playing fields of Northern Arizona University on the dates and times below. All practices are FREE and open to the public -- and lots of fun!Date Time7/29 1:00-3:05 p.m.7/30 9:05-10:30 a.m.and 3:05-5:05 p.m.7/31 3:05-5:05 p.m.8/1 9:05-10:35 a.m. and 7:05-9 p.m. (at Lumberjack Stadium)8/2 3:05-5:05 p.m.8/3 9:05-10:30 a.m. and 3:05-5:05 p.m.8/4 11:15 a.m.-1:30 p.m. (Red and White Scrimmage)8/6 9:05-10:40 a.m.and 3:05-5:05 p.m.8/7 3:05-4:55 p.m. 8/8 9:05-10:30 a.m. and 7:05-9:10 p.m. (at Lumberjack Stadium)8/9 3:05-4:55 p.m.8/10 9-10:10 a.m. (Walk Thru)8/13 3:05-5:05 p.m.8/14 3:05-5:15 p.m.8/15 9:05-10:35 a.m. and 3:05-5:00 p.m.8/16 3:05-4:55 p.m.8/17 9-10 a.m (Walk Thru)8/20 3:05-5 p.m.8/21 3:05-... 07/15/2007