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Sedona, AZ Real Estate News

By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Well  - as the saying goes..."We live in an interesting time" and I think that can be said for the state of the Sedona AZ Home Market Real Estate in Sedona and the National Level.  As we all know, foreclosures continue to bring our median price point downward and yet only represent 10% of the Active Listings.  Yet make up 33% of all the sales in Sedona.  33%.  Short sales represent 10% of the sold inventory.  So almost ½ of all of the homes sold in Sedona is a  foreclosure or a short sale.  If you are a seller - listen carefully with BIG, BOLD letters. - " 42% of our sold inventory is either a foreclosure or a short sale".   Will that trend continue?  Yes.... And I'm not even a Gypsy with a crystal ball (although, I have been called that by some).  And, that 10% active foreclosures and ...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Well  - as the saying goes..."We live in an interesting time" and I think that can be said for the state of Real Estate in Sedona and the National Level.  As we all know, foreclosures continue to bring our median price point downward and yet only represent 10% of the Active Listings.  Yet make up 33% of all the sales in Sedona.  33%.  Short sales represent 10% of the sold inventory.  So almost ½ of all of the homes sold in Sedona is a  foreclosure or a short sale.  If you are a seller - listen carefully with BIG, BOLD letters. - " 42% of our sold inventory is either a foreclosure or a short sale".   Will that trend continue?  Yes.... And I'm not even a Gypsy with a crystal ball (although, I have been called that by some).  And, that 10% active foreclosures and sold foreclosures have  br...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Should you buy now or wait?  The sedona home market is showing signs of stabilizing slowly - but stabilizing.  So  I would advise anyone who is looking for the long haul - to buy now.  I don't think prices are going up anytime soon - but the house that is priced well, land that is priced great is selling.  I am working with a buyer now, you faced a multiple offer on a home that has been on the market for 3 years -however, now, it's priced right! So,  If you are looking for your 2nd home, your dream home, (always wanting to live in this beautiful place - but not being able to afford it) you can stop dreaming and buy now!  Even the vacant land pricing is great.  It has gone up alittle bit since this time last year - but I feel that has occured because your can buy luxury lots in some of S...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Latest Market reports show that the Medain Sold price in Sedona is ONLY down by 10% from this time last year. That number is better news - for previously it had been down by 30 - 40%. Since 1/1 - 58% of those SOLDS were motivated seller's keeping up with Foreclosed prices. 40% of those solds were a foreclosure or short sale property. Our active inventory has fallen - and I know from the market that the properties that "appear" to be bargains are being snapped up in record time.  The jury is still out in my opinion whether the Sedona Homes for Sale market is stabilizing. However it does appear that the Vacant Land in Sedona is gaining stronger legs after being paralyzed last year.  Currently there have been 45 vacant land sold this year with a median sales price of $160,000.  Those are f...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
So what is a seller and buyer to do?  Listen to CNN, MS NBC, Talk Radio, NAR, or your local Real Estate Agent?  Well, I would say, that a good real estate agent is worth their weight in gold boullions - for Real Estate is local. Yes, it is affected by what happens in the National Arena.  But comparing what is happening in the center of New York with Toledo Ohio or the Sedona AZ Real Estate Market is like comparing apples to pineapples to bananas!  It simply can't be done.  Buyer's come into the Sedona Real Estate Market thinking they will be able to pick up a single family home for $30,000 - because they have seen it happen in Phoenix - that "banks are giving away properties".  Well, Sedona ain't Phoenix. The lowest priced home that has sold in Sedona since the beginning of the year was...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
I am fortunate to be a member of the Sedona Luxury Real Estate Professional Associations.  And if you remember the goodwill that came from Macy's Santa recommending Gimbels department store to a parent wanting to purchase a toy that Macy's didn't carry in the classic 1947 film, Miracle on 34th Street, then you will have a hint of the motives of the Sedona Luxury Real Estate Professionals. Macys and Gimbels were vigorous competitors, as could be the members of the SLREP, each from different real estate brokerages and with individual real estate practices. Often times it seems that when times get tough, in any profession, competitors get more territorial, even ruthless. But in this challenging market the SLREP, took the highroad and are reaping rewards both personally and are obtaining ta...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Well so far the stats for this spring are wonderful in all sectors.  In our single family homes the number of Solds were up by 86% from this time last year.  With 44% of those solds being either a foreclosure or a short sale. The median price point has dropped by 8% from this time last year to $390,000.  Prices are starting to stabilize a bit.  I am still skeptical as I don't think prices are going to rebound anytime soon - I think they will hover around the bottom or close to the bottom - since we haven't seen that huge drop in prices as reflected from 08-09- when the median sold price plunged from $528K to $424K. The stabilization of price is also showing in that the median price of homes under contract is around $389K - which goes along with the median sold price of $390K.  But I say...
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By Erelopro Out of Business, Relocation Professionals are out of business
(erelopro)
Sedona, Arizona Realtor Leads - (800) 900-2807 Even through this Real Estate downward spin, we are still seeing an increased number of families relocating to cities such as: Phoenix, Raleigh, Sedona, etc… Still the #1 drive is jobs, and that cannot be disputed. Although another big reason for relocation that started in 2008, was due to great foreclosure prices. Cities such as Dallas, and Sedona have both seem dramatic drops in real estate prices, which is driving the people to purchase real etate in those cities. If you are not working with families whom want to purchase foreclosed homes, you are leaving a huge chunk of money on the table. One of the top discussions right now on RealTown and ActiveRain is in regards to boosting your business with foreclosures. Call us at (800) 900-2807 ...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
As of January 31, 2010 there are approximately (40) residential properties in Sedona that are for sale, classified under the following Special Conditions: Auction     Court Approval Reqd     Corp Approval Reqd     Foreclosure/Lndr Own     Short Sale/Lndr Appr They range in price from $159,900 to $1,999,000.  Since October 1, 2010 there have been 52 sales, ranging in price from $122,000 to $978,000 with the average selling price from $369,600 - 2437 s.f. @ $151 s.f.   There are currently 311 Active Residential Listings, without special conditions, ranging in price from $219,500 to $15M.  Here is what you get for the money: Currently, out of the 311 residential listings, the least expensive home is $219,000, 1232 s.f., with 1 bedroom and 1 bath, built in 1971 and located on .25 acre. The ...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
A Note from Phil DePasquale:  In keeping with the theme of "CHANGE" for 2010 I have accepted a wonderful opportunity to work with Sedona Elite Properties Management, Inc.     Tina Snelling-Nelson, Broker/Owner of Sedona Elite Properties has worked in the corporate world for many years and knows the value of excellent service and clear communication.  Based on those two central ideas, it has made her the leading property management firm in Sedona.   With my real estate background and Tina's property management services we can now provide more up-to-date facts and recommendations for your primary and residential investment.  We  also have qualified connections through current tenancy looking to purchase.  This is a distinctly added advantage for sellers.     I am very excited about this m...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
OK.  Since so many people are in the throngs of buying property in Sedona... let's remember the Tax Credit incentives.. If you are a renter and would like to buy a First Home in Sedona or the surrounding areas of Cottonwood, Camp Verde, Cornville, or Page Springs... remember the $8,000 tax credit.  This tax credit has been extended up until June 30th, 2010 and give a credit up to 10% of the purchase price or up to $8,000.00.  And the one that can help Sedona Buyers even more - for let's remember we are primarily a second home market place is for qualified buyers of a second or "replacement" home under the same deadlines... And that credit is up to $6,5000 or 10% of the purchase price.  To qualify, home purchasers must have owned and occupied a primary residence for five consecutive year...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
I know this doesn't take a rocket scientist to figure out... However, I have been saying for months that the declining prices in home values will continue until the FEDS, the BANKS, GOD.. .someone stops the wave of foreclosures.. For why should any of us in good faith hold onto our homes during this crisis?  I have been saying for months that the FEDS, the BANKS, SOMEONE will need to re-tool all mortgages out there.  Adjust all of our mortgages - anyone who has bought a home in 2001 or beyond.. And low and behold, I just read an article from Realtor. com and am sharing it with you.   Principal Cuts May Prevent Foreclosures At least 7 million borrowers will lose their homes this year and next unless there is a broad increase in property values or lenders become much more willing to cut t...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Hold on Nelly!  Hold On!  Foreclosures were the name of the game in 09 in the Sedona Home Prices and will be the name of the game in 10.  Without a doubt.  Without a doubt. Without a doubt.  Our median price price year to date is down by 10% fueled by Foreclosures.  And an even more staggering fact, out of all the homes sold in the Verde Valley - 51% were foreclosures/shorts.  Over 1/2.  The Sedona homes selling under $350,000 -was the highest market as far as volume is concerned.  This trend will continue for 10.  I would bet the bank on it.  For all your buying needs I can be reached at barbara@barbarabaker.com, on the web at www.barbarabaker.com, on Facebook at Barbara Hooyman Baker, or the old fashioned way - 928-301-0669. 
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Well, I never thought I would see it!  Sedona will be having a GREEN Christmas this year.  Bing Crosby and White Christmas will have to step aside for the color of Green $$$$ is the theme this holiday spirit.   And I say that with a relish and a touch of zest - for the Sedona AZ Home marketplace had a stellar Thanksgiving season. There was no black Friday for us - the day after Thanksgiving... Oh no!  The place was filled with buyer's scooping up tremendous opportunities in the Sedona Real Estate Market.  Neither the Grinch, nor Scrooge, will be making their appearances this year.  And Rudolph's nose will shine very bright to lead all to that brightest star in the sky shining over - Sedona.  And Visions of Sugarplums this holiday season will be replaced with Visions of Happy Buyer's ope...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
WELL, IT'S THAT TIME OF YEAR WHEN GOBLINS AND GHOULS ABOUND.  BUT HEY THAT HAS BEEN HAPPENING ALL YEAR IN THE REAL ESTATE MARKET.  IN FACT, IT'S BEEN HAPPENING FOR THE LAST 2 YEARS. THERE ARE MORE HOME DEATHS THIS YEAR THAN EVER.  HOWEVER, I AM HAPPY TO REPORT THAT THE SEDONA MARKET HAS KEPT IT'S STREAM OF FORECLOSURES IN CHECK. CURRENTLY WE ONLY HAVE 22 FORECLOSED HOMES.  OUR HIGH WAS 31 LAST NOVEMBER AND SINCE THEN WE HAVE BEEN HOVERING AROUND 21 TO 22. MANY BUYER'S ASSUME THAT BECAUSE MANY PARTS OF THE SOUTHWEST (MAINLY LAS VEGAS AND PHOENIX) HAVE SUCH A HIGH RATE OF FORECLOSURE THAT SEDONA WOULD FOLLOW.  WELL, WHILE THAT MAY BE WISHFUL THINKING - IT HAS PROVEN TO BE ONLY THAT - A WISH.  WE HAVE HAD RECORD SALES THIS YEAR - AND ONLY 30% OF OUR VOLUME IS IN FORECLOSURE BUSINESS. WE HA...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Sedona Real Estate Market Overall   The Sedona Real Estate market continues its buying frenzy in the mid to lower price sector.  In this past 3rd quarter alone, our sold volume was up by a whopping 62% from last year, with Foreclosures or Short Sale accounting for 41% of that business.  Even though Foreclosures and Short Sale represent only 12% of our active market- those segments continue to bring the market down and make the Once "Unreachable" Sedona Real Estate Market - an affordable place to own a home!  Prices have come down to 03-04 levels.   The Vacant Land sector continues a downward spiral with the median sold price being $121,000.   Compare that with 08 Sold pricing of $318,000 and you can see what opportunities exist.  The Foreclosures have also hit this sector with 40% of th...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Bernake said this past Tuesday - Recession is nearing the end. Home Starts are up.  Home solds are up! Home Pendings are up!  Unemployment is still high!  Stability?  Depends on who you talk to - CNN... MSNBC, YOUR FINANCIAL PLANNER, THE CRYSTAL BALL - MAYBE A WEGIE BOARD!  WHO KNOWS.  I do know this. Interest rates remain LOW.  I have had homeS close in September  in Sedona AZ with interest rates in the high 4%.  So with great credit - you too could be one of the luckies!  Home prices continue to be LOW!  As I have said previously - we are somewhere in the trough - not plummetting down like a meteror (Thank God) - the prices seem to be stabilizing. And the point must be made that if you are waiting for prices to drop and yet the interest rates go up - you will not see any gain because ...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
With a resounding YES! Many of my clients are looking to purchase a condo in Sedona as a second home. And lately, I have been asked the questions... "How is the Condo Market"? Does the upward trend in the home market apply to the Condo Market? I would say yes. The number of Sold Condos are up by over 30% since this time last year, and the median sold price is up by 10%. That is great for the Condo market. And even better, the amount of actives have dropped - so there is less inventory to chose from. There are many smaller condos in the Sedona Marketplace that don't have amenties like a pool, tennis and their HOA fees are usually quite a bit less than our more upscale associations. For those wanting those amenities plus the perks like a gated community and golf, we have ample supply of t...
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 Taking a motorcycle ride to Sedona Arizona  We are very excited about taking a ride down to Sedona Arizona this weekend on the Harley Davidson. It's suppose to be a beautiful weekend and I will be sure to bring my cameras and take some great photographs.  There is a very confortable back seat for my sweetheart Nu Nu and speakers in the back so she can listen to her favorite music.  I am pumped about the ride and will post a blog with pics Sunday or Monday.  www.VegasBuildingsForSale.com  www.RealEstateNationwideListings.com  www.LakeOwner.com  www.DarksideofDavid.com  www.UFOsAliens.org
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
In the Sedona Real Estate Market, our market is definitely improving.  We are seeing less foreclosures on the market.  We only have 23 homes that are foreclosures listed on our MLS.  That number also includes condos.  Our active listings are down by 27% from mid year of last year.  Our pendings are up by 153% from same time last year, and our solds are up by 36%.  What is dropping are the prices. With a median sold price of $413,000.  HOWEVER, and this is a BIG HOWEVER... the median sold price in January of 09 was $341,500.  SO.... don't wait to buy.  Buy now.  The stats PROVE that our market is coming back.  Please email me or call me for all your buying needs at barbara@barbarabaker.com or 800-975-5943/ or locally at 928-301-0669.  Happy Buying!
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