May 29, 2013

New listing for sale in Sedona $392,000 - Sierra Rd, Sedona AZ

Lovely home in Sedona nestled among mature trees with great red rock views and fenced back yard. The homes features 3 beds/2baths with travertine floors and hardwood ceilings. Stainless steel appliances in the kitchen, vaulted ceilings, fireplace in the formal dining room and big windows into the views and the back yard. Private and cozy and yet looking into open vistas. Spacious master suite with lots of storage spaces throughout the house, a great Arizona room that can have multiple uses such as family room, hobby room, art studio, library or office. The home is single level but has a 300 sqft loft where an office can be set up and additional sleeping quarters as well. 2 car garage, a water feature, tool shed, spacious back yard for gardening. Short Sale, lender approval required. See full details here

May 24, 2013

May 22, 2013

Sedona named one of 25 top destinations in the US by Tripadvisor

Sedona is a true oasis, a vacationer’s paradise in the middle of the Arizona desert. Here, you’ll find resorts and spas, canyons and red rock formations. Bell Rock and Oak Creek Canyon are great hiking spots, and the dramatic architecture of the Chapel of the Holy Cross is a religious experience itself. When the sun dips down below the horizon it introduces the best show in Sedona: the night sky.

What happened to Sedona’s real estate inventory?

Click on graph to enlarge
Sedona residential inventory peaked in September 2008 with 760 listed properties. The lowest reading was in September 2004 at 233.
At the end of April, residential inventory level was at 378 units and in spite of 2 consecutive monthly increases that can be attributed in part to the seasonal uptick of new listed properties in early spring, the trend line indicates a steadily shrinking supply.
There is a definite correlation between inventory and price levels. Inventory is an important leading indicator of future price movement. In Sedona, inventory bottomed in the 4th quarter of ‘04 and prices peaked in the fourth quarter of ‘06.
Prices started stabilizing and improving in mid 2011 while inventory was at 2002-2003 levels. It is safe to say that as long as inventory is in decline, prices will continue to improve.

By Elisa Andreis J.D. of Russ Lyon Sotheby’s International Realty (928) 274 1521

May 20, 2013

Views of Sedona land for sale

Hipstamatic view from my listing the other day. Thunder Mountain of the right side.

Sedona Residential Real Estate - MEDIAN SALE PRICE

Median Sale Price usually provides a better gauge of home prices than average sale price. Median represents the price point where half of the homes are selling below and half above the price point, whereas average is derived by dividing the total added value of homes sold by the sold volume. Averages can easily be skewed by one or two high end sales or by distressed sales at the low end of the sales price spectrum.

Sedona residential median sale price peaked in late 2006 at $540,000 and bottomed at $315,000 in April 2011, representing a 42% price drop. As of the end of April 2013, median sold price had recovered by 8% at $340,000. Read Full Report.

May 18, 2013

2013 Annual Jerome Historic Home Tour this weekend - 9am to 3 pm

 Annual Jerome Historic Home Tour has an exciting line-up of homes to see this year, including the famous Honeymoon Cottage, built in 1921 by mine owner Jimmy Rawhide Douglas as a gift for his son and his new bride. Lovingly restored to its former beauty, visitors will experience the elegance of a bygone era. The home that was once the Jerome Mortuary will be shown after extensive renovation and much anticipation.
This particular home is also for sale for $2,300,000. See the detailed listing for this special property:

This longest running tour in the state of Arizona promises a look at the historic gems of this charming town including some never seen treasures that will delight visitors.  In total, 7 homes and buildings are on the tour including the Gypsy Wagon at The Hillside House.  There are lots of steps so this is not handicapped accessible and no pets or strollers allowed. The final stop at Spook Hall will include cookies and lemonade plus a photo display of historic photos as well as performances by Mingus Union High School Students.
View of the Sedona Red Rocks from the Honeymoon Cottage
Carefully restore kitchen at the Jerome Honeymoon Cottage

View from the Aerie Sales Studio - The last significant collection of land in Sedona, AZ

This is the view from the Aerie sales studio this morning while I was waiting to walk some of these beautiful lots. The Aerie in Sedona additional info

May 14, 2013

Sedona Real Estate residential Median sale price index

The median sale price index in the solds in Sedona in the last 10 years. Using the median data set instead of the average data set is more accurate interpretation of the market.
This graph shows the year over year change in the Sedona real estate residential property price index over the past 10 years as of the end of April 2013.
The index turned positive in April 2012, a clear indication of market recovery, but is still off 36% from the peak of 2005.
 Read full Sedona Market Watch Report on median sale price index

May 09, 2013

Sedona Real Estate Home Inventory

It is interesting to note that in our Sedona real estate market the inventory of homes for sale has declined steadily over the last few years. Fewer properties are available while volume of sales remains very healthy.

This combination of shrinking inventory and elevated sales volume points to price levels that are likely to increase because of supply and demand dynamics.

At the end of April 2013, the inventory of residential homes was 378 units, compared to 347 units at the end of March, representing a 9% increase from a month ago. This increase is seasonal as spring brings out both buyers and sellers to the market. More significantly, inventory levels at the end of April were 23% lower than a year ago.   Read full report

May 08, 2013

Recently Sold in Sedona

Sold for $320,000 Rose Mountain, Sedona

Popular Firecliff model--one level with great red rock views. Cul-de-sac location is very quiet. Excellent condition with front and rear covered patios. Amenities include community pool and spa.
See what sold recently in Sedona