April 20, 2013
April 17, 2013
Lets talk about Foreclosures and REOs in the Sedona real estate market
Just published a new dedicated section in my real estate website about foreclosures, short sales and REOs in the Sedona market. A lot of my clients, both buyers and sellers ask me about the foreclosures trends in Sedona and how REOs have affected our market in the last 5 years. Before the real estate bubble burst in 2006 we didn't even know what a foreclosure was in Sedona. It was a foreign concept. After the burst Sedona got hit heavily with a wave of foreclosures and short sales to the point where in 2008-2009 the sales of foreclosures counted for almost 40% of our overall sales in the entire Sedona area, a really high number. Since 2010 though that the number of foreclosures has been consistently decreasing. Today at the end of the first 2013 quarter the amount of sold foreclosures in the Sedona area is less than 18% of the total sales. In the inventory we have less than a dozen distressed property listings out of an average of 400 listings. That is a significant change and a sign that our market has stabilized and is heading toward much healthier trends.
There are several charts showing the progress of foreclosures in our market: a volume relative to overall market, a ratio of solds to overall market and many others. Click to see the foreclosure charts
There are several charts showing the progress of foreclosures in our market: a volume relative to overall market, a ratio of solds to overall market and many others. Click to see the foreclosure charts
April 13, 2013
Days on Market
Today we take a look at the number of days it takes to sell residential properties in Sedona.
Days on Market or DOM is a useful indicator for Sedona sellers as it helps them align their expectations when listing a property with current market conditions.
When DOM trends lower, it means properties are selling at a faster pace and buyers may perceive from this information that their negotiating power is somewhat diminished as they know that if they don't come to an agreement on buying a property today, it is only a matter of time before another buyer does.
However, it must be noted that there is no direct correlation between DOM and price levels. The graph below shows a net decrease in DOM in 2010 while Sedona home prices continued their steady decline during the same period. Ultimately, buyers always control the process.
The graph also shows that while DOM remained historically elevated in 2011 and 2012,to date 2013 has seen a 26% decrease in the number of days it takes to sell a home. For sellers, relief may be in sight...
Days on Market or DOM is a useful indicator for Sedona sellers as it helps them align their expectations when listing a property with current market conditions.
When DOM trends lower, it means properties are selling at a faster pace and buyers may perceive from this information that their negotiating power is somewhat diminished as they know that if they don't come to an agreement on buying a property today, it is only a matter of time before another buyer does.
However, it must be noted that there is no direct correlation between DOM and price levels. The graph below shows a net decrease in DOM in 2010 while Sedona home prices continued their steady decline during the same period. Ultimately, buyers always control the process.
The graph also shows that while DOM remained historically elevated in 2011 and 2012,to date 2013 has seen a 26% decrease in the number of days it takes to sell a home. For sellers, relief may be in sight...
April 11, 2013
OPEN HOUSE today April 11th, 9:00-11:30am in Sedona at this fabulous new listing offered at $1,895,000
Immerse yourself in tradition and charm. This Sedona private retreat sits on .9 acre in a quiet cul-de-sac. The circular driveway leads to a grand entrance and into a great room with floor to ceiling windows with dramatic red rock views. 4 bedrooms plus study and gym. All living areas on main floor with downstairs TV room and gym. Commercial grade kitchen with Dacor appliances. The master suite has dramatic red rock views on 2 sides, a fireplace, 2 separate closets and steam room. Infloor heating, flagstone and marble floors throughout the house. Gracious outdoor living spaces with multiple terraced patios, built in BBQ, sweeping vistas, swimming pool, spa and water feature, as well as fenced in backyard, lawn and mature landscaping.
Offered at $1,895,000 MLS#134770
Click here to view property details
Call me at (928)274 1521 to see this home
http://www.sedonafinehome.com/
April 07, 2013
Overseas Buyers go bargain hunting to Sedona
[...] "Buyers are also looking at other parts of the state. “A lot of Europeans buy properties in Arizona,” says Elisa Andreis, an estate agent at Russ Lyon Sotheby’s International Realty. “Our sunny climate plays an important role, as does the incredible landscape."[...]
Read full article
April 05, 2013
Sedona real estate Absorption Rate
Sedona 4/5/2013 Absorption Rate is calculated by dividing the total number of available homes by the average number of sales per month.
The result gives the number of months it would take to exhaust the supply and does not take into account additional homes that enter the market.
As absorption rate increases, the supply of available homes shrinks, increasing the odds that a homeowner will sell a piece of property in a shorter period of time.
April 03, 2013
Sedona Market Watch - Trading Range
This graph shows the trading range on a monthly basis as a ratio between list price and sale price since 2003 in the Sedona residential real estate market.
The trend line since the peak in 2008 has declined gradually and today the spread indicates the market is in equilibrium.
April 02, 2013
Sedona Market Watch - March Home Inventory
At the end of March 2013, the Sedona Home inventory was 324 units, a level not seen since June 2005. In September of 2008, residential inventory reached its peak of 760 units. Today’s level (348 units) represents a 46% drop since the top.
More significantly, in the past three months alone (since the end of November 2012), inventory has fallen by 22% compared to 30% from a year ago.
April 01, 2013
Another great review from Yelp
Elisa
Andreis has been my Sedona real estate agent for several years and I am
always in awe with her ability to solve challenges and make every
transaction a truly enjoyable experience. Elisa naturally displays an
intuitive understanding of our needs and an in-depth knowledge of the
local market, combined with a keen attention to details and great
communication skills. I highly recommend Elisa to anyone looking to buy
or sell a home especially if you are not familiar with the area.
March 31, 2013
10 Best Small Towns in America | Travel News from Fodor's Travel Guides
What it's Like: Red-rock panoramas and the mythical "vortex" energies set the scene for this spa and wellness haven.
The striking vistas and natural splendors that once inspired artists like Max Ernst and countless Western filmmakers are today attracting a mix of New Age healers, spa therapists, artisans, and wellness-seekers to this mellow desert town of just over 10,000 residents. Sedona is light on historic activities, so visitors are free to hike, mountain bike, or jeep-tour around the red-hued canyons and buttes; shop for jewelry and Native American crafts in the town center; and park themselves at spots like Elote Cafe for gourmet Mexican (and great views), or Dahl & Di Luca for elevated Italian. Many guests simply settle into a health-minded hotel and indulge in spa treatments, yoga sessions, and excursions to the Vortex, a rock outcrop that's said to be a powerful source of ancient energy. Accommodations here tend toward the upscale—favorites include the celeb-endorsed Enchantment Resort and its Mii Amo spa and hillside, cottage-style L'Auberge de Sedona—but deals can be found at places like the Sky Ranch Lodge, where some rooms have fireplaces or kitchenettes.
Read full article here
The Aerie Sedona - Elevated Living
There are currently 3 completed and occupied homes, and 3 more homes are under construction for a total of 6 beautifully designed residences. The lots are all approximately 2.5 acres, and the minimum square footage is 3500 sqft inclusive of the garage.
The Aerie is a community of architectural distinction with a collection of homes that carefully blend into the natural setting. Aerie I includes 41 homesites situated between Doe and Cockscomb Mountains. Residents enjoy panoramic views of Capitol Butte and Chimney Rock, and long distance views of legendary Cathedral Rock to the south.
You can see a virtual tour of the property by clicking here: See virtual tour of the community
Showings of The Aerie are available by appointment ONLY. Call me to set a time (928)274 1521
Check my website for more details on the Aerie
Sedona named one of 10 Best Destinations for Girlfriend Getaways by Smarter Travel
March 15, 2013
In this town two hours north of Phoenix, some of the most profound spiritual experiences occur not inside a retreat center but out on the land. For centuries, Native Americans have considered Sedona's red-rock landscape sacred. The city is known for its vortexes, or spiritual power spots, where you can sit with a spiritual guide who will lead you and your girlfriends through meditations, breathing exercises, and visualizations.
Take a mystical tour with a Native guide who shares sacred songs and spiritual wisdom. Or work through your issues with one of the many alternative healers that practice in Sedona. You can try psychic readings, shamanic journeys, chakra healing tours, medicine wheels, and Reiki. Whether you're looking for an intuitively guided spiritual massage or a spiritual retreat center, you'll find it on the Sedona Metaphysical Spiritual Association website.
Smarter Travel
SedonaFineHome
October 02, 2011
Week of October 2nd
Offered at $659,900 MLS#129571
Click here to view property details
Call me at (928)274 1521 to see this home
http://www.sedonafinehome.com/
Offered at $1,650,000 MLS#131167
Click here to view property details
Call me at (928)274 1521 to see this home
http://www.sedonafinehome.com/
Offered at $339,500 MLS#130813
Click here to view property details
Call me at (928)274 1521 to see this home
http://www.sedonafinehome.com/
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