Fabulous 5400 sqft Spanish Hacienda to remodel on 3 acres in the heart of Sedona

View the Tour A fabulous remodeling project for this 5400 sqft Spanish style hacienda in the heart of Sedona. 3.2 acres property with main house and 3 guest casitas, pool, spa, wine cellar, tasting room, wrap around decks and stunning red rock views. The property is sold in AS IS condition and needs remodeling and has excellent bones. The main house features the master suite, living room, family room, kitchen and formal dining with built in bar. The second and third bedroom are in the 2 detached casitas in the inner courtyard. A third casita is the main guest house with kitchen. The home was designed by architect Bob McIntyre who also designed Sedonas famous shopping village Tlaquepaque in the same classic Spanish style. Warmth and elegance are the characteristics of this rare Sedona property in a great hillside location just below the Airport Rd and looking into magnificent panoramic red rock views. A ideal project for a developer, and investor or someone who desires to restore an exclusive and unique estate with lots of privacy and yet in the centre of town. Circular driveway from private cul de sac and plenty of room for additional expansion. Borders Coconino National Forest Service on 2 sides. 2 car garage and 2 car carport and roof top deck. Indoor and outdoor wood burning fireplaces and kivas, ramada, decks, balconies, small courtyards and alleyways, just like a classic Spanish village. Flooring has been removed, except saltillo tiles. See full details about this home

Sedona UFO Spaceship for sale - Offered at $1,200,000. on 3 acres, 3 Bed/3Bath 4900 sqft.

One of the most recognizable homes in all of Sedona. The star of several TV shows like MTV extreme cribs, worlds most extreme homes and more. Set on over 3.5 acres of land there are 10 domes total. As you walk in there is a theater dome to the right and to the left is a 32 foot tall dome with upstairs office area or ?. Then you walk into the living room with an indoor water feature and the soothing sound of the water as it flows down the rocks, there IS also an out door fountain in the middle,but that is just the beginning you will have the see the rest for yourself. There is also a detached garage and a set up for RV'S. This is your chance to own one of the most famous homes in Sedona.
See full details of this home here 

International Buyers Seduced by Sedona

By Elisa Andreis J.D., Russ Lyon Sotheby’s International Realty.

My clients often ask me where real estate buyers come from when looking to get a pad in Sedona. While the traditional

East and West coasts provide a constant flow of real estate buyers in Sedona, international buyers are looking beyond the typical Florida and New York, to snap up deals off the beaten track and locations like Sedona are generating an increasing number of sales. In the last 15 months I’ve had several European clients buying both homes and vacant land in Sedona.

This new interest came about thanks to the supply of bargain properties in our area as well as the European debt chaos, which prompted buyers to look further afield. These are the same investors who typically would have bought in Italy, Greece, Portugal and Spain, and they see the South West as a safer investment.

Another contributing factor, besides the low prices, has been the historical weakness of the US dollar relative to Canadian and European currencies, attracting investors from all over the world to purchase properties for as little as half what they might have paid five years ago.

The sprawling desert state of Arizona may seem like a surprising choice for a holiday home 7000 miles away from home, yet while touring the South West during the summer holidays, Italians, French, Britons, Germans and now Russians fall in love with our unique landscape, the small town feel and the healthy lifestyle that make Sedona such a special destination.

We have also seen an increase in the number of Canadians buying in the Sedona area over the past two years.

The area has allowed Sedona to become popular as a second-home destination for snowbirds who enjoy golfing or hiking away from the frigid Canadian winters.

With a thriving, yet limited number of residents from all over the world already living here, Sedona is soon becoming a true international destination, as more and more foreign visitors get seduced by the many charms of our beautiful town and make Sedona their home. www.SedonaFineHome.com

 

New lot for sale in Sedona - Offered at $240,000 1.75 acres with great Cathedral Rock views

View the Tour

Exquisitely private piece of land in one of Sedona's hidden secrets, with stunning views of famous Cathedral Rock and the green belt below this unique hillside property is an ideal setting to build a dream home in beauty and solitude. The lot is 1.75 acres and offers privacy and views. Minutes walk to swimming holes on Oak Creek. A wildlife sanctuary is just below the lot.

Sedona Real Estate Market update – end of Summer 2013

Monsoon greenery at Sedona Red Rock State Park

By Elisa Andreis J.D.
This report looks at the residential real estate market during the months of June, July and August 2013 in relation to the same period a year ago and highlights the major trends.  
23% increase in Sales Volume

The number of residential sales in Sedona was 49, 54 and 58 in June, July and August respectively or a total of 161 sold properties. 131 homes sold during the same period in 2012.

12% increase in Median Sale Price

The median sale price was $325,500 in June, $335,000 in July and $379,500 in August. In 2012, median sale price was $339,659 in June, $308,690 in July and $279,527 in August.

22.5% decrease in Home Inventory

The number of homes for sale was 359 in June, 333 in July and 336 at the end of August. This compares with respectively 455, 444 and 429 listed homes in 2012.

15% decrease in Residential Distressed Sales

Distressed property sales (foreclosures and short sales) fell to 23 from 27 in 2012. More significantly, the ratio of distressed property sales to the total number of sales fell from 21.29% in the summer of 2012 to 14.59% during the same months this year, representing a 31.5% decrease.

80% increase in Vacant Land Median Sale Price

By the end of August, land inventory stood at its lowest level since August 2006 and sales volume increased by 11% from a year ago. Median sale price for the three summer months in 2012 was $111,750. During the same period this year, median price was $200,833 

For more information about Sedona Real Estate and to search for properties, visit www.SedonaFineHome.com or call Elisa Andreis J.D. (928) 274 1521.

 

Lovely Sedona home for sale - offered at $389,000 on Mountain Shadows

Lovely Sedona home for sale with Red Rock views and cathedral ceilings in the master bedroom, nestled in a quiet neighborhood in proximity of the red rocks and the National Forest Service hiking trails. All single level, 3 Bedrooms and spacious kitchen/dining combo, living with wood burning fireplace. Den/office with nicely landscaped backyard with hot tub and large wooden deck to enjoy the outdoors. Skylights and bright Arizona room that can be used as a den or office. Double master shower, mature trees and vegetation around the home, low maintenance yard in a 0.25 acre lot. Views of Sugarloaf and Coffeepot rock formations from the master bedroom and the back yard. 2 car garage with workbench and built-ins. Kitchen needs some updating.See full listings details

New Construction of Single Family Homes Picking up in Sedona

The supply of single family homes in Sedona is getting very tight. As of the end of July, inventory of listed homes was 7.5% lower than the previous month and 25% lower than a year ago. Home Inventory is back at 2004 levels when prices were gaining momentum.

The number of new construction permits issued for single family detached homes in Sedona is at its highest since 2007. Home buyers increasingly opt to build a brand new home instead of buying one that often requires remodeling or if they cannot find the home that is just right for them.

Meanwhile, prices for sold vacant land in July stood at a median of $176,250 compared to $139,250 a year ago, a price increase of 26.5%. Land prices are now where they stood in 2004, before an unprecedented run up that saw median prices nearly triple in three years. This is not to say this scenario is likely to repeat itself any time soon, but the stage is set for a healthier price point for land in the near and medium term.

For vacant lots above 0.25 acres with red rock views in Sedona prices now ranges between $80,000 and $300,000. In addition the cost of borrowing  and mortgage rates have declined in the last 2 years, making a compelling case for new construction – see graph below illustrating the number of permits issued by the city (up to June 2013) versus the mortgage rates since 2005 in Sedona. 

Click here to view property details

Lot owners building custom homes and local builders and developers building spec homes are breaking ground all over Sedona. A new community called Rimstone, off of Hwy 89A in West Sedona is under development, and new homes are being built on Whippet Way and Hozoni Dr, a reflection of renewed activity in vacant land sales.

The cost of building new is now beginning to compete with the cost of buying an existing home.

Prices of new homes ranging between $380,000 and $750,000 depending on size and finishes, have an average price per sqft of $260. By comparison, existing homes are listed at an average of $200/sqft.  The economic case for building new versus buying an existing home becomes more compelling at the high end of the market as it commands higher prices per square foot.

 View graph below showing the interest rates versus the number of permits issued by the city of Sedona.

See complete Sedona real estate Market update here