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Sedona Real Estate 09/21/2019

by Sean Baguley

 

Weekly Update. September 21st, 2019.
This is our 5th Annual Verde Valley School Farm to Table Feast. Each year Verde Valley School hosts a multi course meal & event featuring our beyond organic VVS farm and local chefs, growers, wineries and ranches. We start the meal with farm tours, food and music offering our guests a chance to enjoy the farm, spend time with friends and learn about our unique educational programming, "IB & Dirt!" visit vvsaz.org This year we are partnering with Verde Valley Ideas (see below). Admission: $150.
Time: 4:30 PM to 8:00 PM. Verde Valley School Farm, 3511 Verde Valley School Rd Sedona. For more information, call (928) 284-2272, or email kfritz@vvsaz.org.
Verde Valley Ideas is an ideas festival for anyone willing to wonder. Participants are offered three experiences: intimate workshops called Labs, a stage-based program of talks and performances, and a unique Farm to Table Dinner. Come for one or enjoy the whole day. Verde Valley Ideas is born from a movement started by our friends at Chicago Ideas Week. At its heart is a simple belief: when a broad spectrum of thinkers and doers share ideas, we have the power to transform the world. Today. Time: 8:00 AM to 9:00 PM. Verde Valley School, 3511 Verde Valley School Rd Sedona.
Last chance for bargain hunting as an art form at one of the oldest and largest annual rummage sales in the Valley. Clothing (plus a Boutique), Estate Sale antiques & collectibles, kitchenware, bed & bath, small appliances, furniture, patio & outdoor goods, tools, and a Pantry with baked goods, homemade jams, and hot coffee. Estate Sale and Boutique close at noon, when Bargain Bag Blitz ($5 a bag) starts. Today. Admission: Free. Time: 9:00 AM to 2:00 PM. St Andrew's Episcopal Church
100 Arroyo Pinon Dr Sedona. For more information, call St. Andrew's Episcopal Church, (928) 282-4457.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         24    Average: 17.8  (New Listings; Back on Market) 
Under Contract:     26    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      8     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.4  (Canceled; Expired; Temporary Off Market)
Price Reductions:        13     Average  10.9
Price Increases:            1     Average    0.7
 
Contract Ratio:  28.80. The average over the last year is 33.10. 
The Average Price per Square Foot of homes that are Under Contract was $304.07 per square foot. The yearly moving average is $313.05 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $279.79 per square foot.
The Federal Reserve, following its two-day policy meeting, sanctioned a quarter-point interest rate cut by reducing its overnight lending rate to a target range of 1.75% to 2%. The previous reduction was nearly two months ago and was the first cut in 11 years. There were two dissenting votes on the Committee. One, Boston Federal Reserve President Eric Rosengren, said his reasons included that, "very low rates can encourage households and firms to take excessive risks."
The Dow Jones Industrial Average closed at 26,935.07; The S&P 500 at 2,992.09, and The Nasdaq Composite 8,117.67. With a number of important factors influencing investors, and Wall Street now again close to its record highs, Goldman Sachs has pointed out that stock volatility has been 25% higher in October on average since 1928. They are anticipating big price swings in each major stock sector, with technology and health care being the most volatile groups.
Following the decision by Chinese trade officials to cut their trip to the U.S. short, U.S. government debt yields fell. The yield 2-Year was around 1.69%; the 5-Year was around 1.61%; the 10-Year was around 1.74%; the 20-Year was around 1.99%, and the 30-Year was around 2.17%.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. September 21st, 2019.

This is our 5th Annual Verde Valley School Farm to Table Feast. Each year Verde Valley School hosts a multi course meal & event featuring our beyond organic VVS farm and local chefs, growers, wineries and ranches. We start the meal with farm tours, food and music offering our guests a chance to enjoy the farm, spend time with friends and learn about our unique educational programming, "IB & Dirt!" visit vvsaz.org This year we are partnering with Verde Valley Ideas (see below). Admission: $150.Time: 4:30 PM to 8:00 PM. Verde Valley School Farm, 3511 Verde Valley School Rd Sedona. For more information, call (928) 284-2272, or email kfritz@vvsaz.org.

Verde Valley Ideas is an ideas festival for anyone willing to wonder. Participants are offered three experiences: intimate workshops called Labs, a stage-based program of talks and performances, and a unique Farm to Table Dinner. Come for one or enjoy the whole day. Verde Valley Ideas is born from a movement started by our friends at Chicago Ideas Week. At its heart is a simple belief: when a broad spectrum of thinkers and doers share ideas, we have the power to transform the world. Today. Time: 8:00 AM to 9:00 PM. Verde Valley School, 3511 Verde Valley School Rd Sedona.

St. Andrew’s’ Annual Rummage Sale. Last chance for bargain hunting as an art form at one of the oldest and largest annual rummage sales in the Valley. Clothing (plus a Boutique), Estate Sale antiques & collectibles, kitchenware, bed & bath, small appliances, furniture, patio & outdoor goods, tools, and a Pantry with baked goods, homemade jams, and hot coffee. Estate Sale and Boutique close at noon, when Bargain Bag Blitz ($5 a bag) starts. Today. Admission: Free. Time: 9:00 AM to 2:00 PM. St Andrew's Episcopal Church100 Arroyo Pinon Dr Sedona. For more information, call St. Andrew's Episcopal Church, (928) 282-4457.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         24    Average: 17.8  (New Listings; Back on Market) 
Under Contract:     26    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:        13     Average  10.9
Price Increases:             1     Average    0.7 

Contract Ratio:  28.80. The average over the last year is 33.10.
 
The Average Price per Square Foot of homes that are Under Contract was $304.07 per square foot. The yearly moving average is $313.05 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $279.79 per square foot.

The Federal Reserve, following its two-day policy meeting, sanctioned a quarter-point interest rate cut by reducing its overnight lending rate to a target range of 1.75% to 2%. The previous reduction was nearly two months ago and was the first cut in 11 years. There were two dissenting votes on the Committee. One, Boston Federal Reserve President Eric Rosengren, said his reasons included that, "very low rates can encourage households and firms to take excessive risks."

The Dow Jones Industrial Average closed at 26,935.07; The S&P 500 at 2,992.09, and The Nasdaq Composite 8,117.67. With a number of important factors influencing investors, and Wall Street now again close to its record highs, Goldman Sachs has pointed out that stock volatility has been 25% higher in October on average since 1928. They are anticipating big price swings in each major stock sector, with technology and health care being the most volatile groups.

Following the decision by Chinese trade officials to cut their trip to the U.S. short, U.S. government debt yields fell. The yield 2-Year was around 1.69%; the 5-Year was around 1.61%; the 10-Year was around 1.74%; the 20-Year was around 1.99%, and the 30-Year was around 2.17%.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 09/14/2019

by Sean Baguley

 

Weekly Update. September 14th, 2019.
Still running until September 15th, The 11th Annual Grand Canyon Celebration of Art is held at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.
Sedona WagFest & Fair. September 21. 9:00 AM to 12:00 PM. A perfect day out for dogs and their humans. This canine event will feature booths where you can shop and learn from the area’s best dog-related product & service providers. Demonstrations & contests will be scheduled throughout the event. It’s FREE, fun, & family-friendly! For the safety: All dogs must be current on vaccinations, be kept on a leash, handlers must be 18 years and clean up after your dogs. The Posse Grounds Pavillion, 525 Posse Ground Rd Sedona. For more information, please call 928-204-7127.
Sedona Winefest. September 28-29, 2019 from 11:00 am - 5:00 pm. We invite you to enjoy fabulous Arizona wines, tasty food, music, and vendors galore while enjoying the breathtaking panoramic views of the majestic red rocks in the heart of Sedona. Welcome to the 11th Annual Sedona Winefest. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, please call 928-593-9694.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         22    Average: 17.8  (New Listings; Back on Market) 
Under Contract:     18    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      9     Average:  9.4  (Sold; Closed Escrow) 
Off Market:               6     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:        15     Average  10.9
Price Increases:            1     Average    0.6
 
Contract Ratio:  29.90. The average over the last year is 33.50. 
The Average Price per Square Foot of homes that are Under Contract was $299.86 per square foot. The yearly moving average is $314.84 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.52 per square foot.
The University of Michigan Index of consumer sentiment Sentiment rose to 92 from 89.8 in August as consumers felt more confident about current and future economic conditions. While consumers did feel more confident, they contiue to worry about the impact of tariffs on the economy. Their current economic conditions index also rose to 106.9 from 105.3.
The Dow Jones Industrial Average rose for the eight day in a row, which it hasn't done for more than a year. The Index close at 27,219.52. The S&P 500 closed at 3,007.39, and the Nasdaq ended the week at 8,176.71.
As talk about the possibility of a recession diminished, the yields on US Treasuries rose to close higher on the week. The 2-Year was around 1.79%; the 5-Year around 1.75%; the 10-Year around 1.90%; the 20-Year around 2.17%, and the 30-Year around 2.37%.
According to Mortgage News Daily, it was not a good week for mortgages, as the average rate on the 30-year fixed is now 20 basis points higher than it was on Monday and 36 basis points higher than its last low on September 4th. That is the biggest short-term jump since the week following the election of President Donald Trump. Despite this set-back, mortgage rates remain historically low.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. September 14th, 2019.

Still running until September 15th, The 11th Annual Grand Canyon Celebration of Art is held at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.

The Sedona WagFest & Fair starts on September 21. 9:00 AM to 12:00 PM. A perfect day out for dogs and their humans. This canine event will feature booths where you can shop and learn from the area’s best dog-related product & service providers. Demonstrations & contests will be scheduled throughout the event. It’s FREE, fun, & family-friendly! For the safety: All dogs must be current on vaccinations, be kept on a leash, handlers must be 18 years and clean up after your dogs. The Posse Grounds Pavillion, 525 Posse Ground Rd Sedona. For more information, please call 928-204-7127.

The Sedona Winefest is on September 28th and 29th, 2019 from 11:00 AM - 5:00 PM. You are invited to enjoy fabulous Arizona wines, tasty food, music, and vendors galore while enjoying the breathtaking panoramic views of the majestic red rocks in the heart of Sedona. Welcome to the 11th Annual Sedona Winefest. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, please call 928-593-9694.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         21    Average: 17.7  (New Listings; Back on Market) 
Under Contract:     14    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               4     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:         9     Average  10.9
Price Increases:            2     Average    0.6 

Contract Ratio:  27.50. The average over the last year is 33.30. 

The Average Price per Square Foot of homes that are Under Contract was $302.51 per square foot. The yearly moving average is $313.94 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $279.36 per square foot.

The University of Michigan Index of consumer sentiment rose to 92 from 89.8 in August as consumers felt more confident about current and future economic conditions. It appears that, while consumers felt more confident, they continue to worry about the impact of tariffs on the economy. The UM current economic conditions index also rose to 106.9 from 105.3.

The Dow Jones Industrial Average rose for the eight day in a row, which it hasn't done for more than a year. The Dow 30 Index close at 27,219.52; the S&P 500 closed at 3,007.39, and the Nasdaq ended the week at 8,176.71.

As talk about the possibility of a recession seem to diminish, the yields on US Treasuries rose to close higher on the week. The 2-Year was around 1.79%; the 5-Year around 1.75%; the 10-Year around 1.90%; the 20-Year around 2.17%, and the 30-Year around 2.37%.

According to Mortgage News Daily, it was not a good week for mortgages, as the average rate on the 30-year fixed is now 20 basis points higher than it was on Monday and 36 basis points higher than its last low on September 4th. That is the biggest short-term jump since the week following the election of President Donald Trump. Despite this set-back, mortgage rates remain historically low.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 09/07/2019

by Sean Baguley

 

Weekly Update. September 7th, 2019.
Today, you can celebrate and learn about the Colorado River, which is a vital but endangered water source for ecosystems, organisms and people. Join dancers, musicians, artists, activists and scientists in sharing diverse perspectives on the river. Admission: included with museum admission. Time: 10:00 AM to 5:00 PM. Museum of Northern Arizona, 2920 Creekside Drive Flagstaff. For more information, please call 928-774-5213.
Starting today, The 11th Annual Grand Canyon Celebration of Art is held until September 15th at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.
Tomorrow, The Red Rocks Music Festival Concert in partnership with the Sedona International Film Festival, is presenting a special concert, “From Mozart to Gershwin and More”. The concert will include selections by Mozart, Coleridge-Taylor, Gershwin and Webern. Admission: $36 Adults; $14 Children 14 & under. Time: 3:00 PM. Mary D. Fisher Theatre, 2030 W. State Route 89A, Suite A3, Sedona. For more information, please call Patrick Schweiss on 928-282-1177. 
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         22    Average: 17.8  (New Listings; Back on Market) 
Under Contract:     18    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      9     Average:  9.4  (Sold; Closed Escrow) 
Off Market:               6     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:        15     Average  10.9
Price Increases:            1     Average    0.6
 
Contract Ratio:  29.90. The average over the last year is 33.50. 
The Average Price per Square Foot of homes that are Under Contract was $299.86 per square foot. The yearly moving average is $314.84 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.52 per square foot.
Speaking in Zurich, Federal Reserve Chairman Jerome Powell said that the move to lower interest rates has helped sustain U.S. economic growth. He went on to make positive suggestions as the current US economy against the background of weakening economies elsewhere in the world. His comments also covered the uncertainty created by the US-China tariff war and the fact that the US inflation rate was below the Fed’s 2% target.
The Labor Department announced that nonfarm payrolls increased by 130,000. This was in part due to the hiring of Census workers, and was below market expectations. The unemployment rate stayed at 3.7%. U-6, a broader measure, rose to 7.2% from 7.0% as a result of an increase of 397,000 for people working part-time for economic reasons. Wage growth remained steady, and slightly improving. Average hourly earnings increased by 0.4% for the month and 3.2% for the year.
NAR released data on their pending home sales index for July, which fell to 105.6 from 108.3, a 2.5% fall on the month and 0.3 % year on year. Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead Existing-Home Sales data by 1 to 2 months. 
The slightly disappointing nonfarm payrolls number saw yields on US Treasuries fall slightly after having risen during the week. The yield on the 2-Year was around 1.53%; the 5-Year around 1.42%; the 10-Year around 1.55%; the 20-Year around 1.83%, and the 30-Year around 2.02%.
The stock markets closed the week higher, with the Dow Jones Industrial Average up 398.18 at 26,797.46; The S&P 500 up 52.25 at 2,978.71, and The Nasdaq Composite up 140.19 at 8,103.07.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. September 7th, 2019.

Today, you can celebrate and learn about The Colorado River, which is a vital but endangered water source for ecosystems, organisms and people. Join dancers, musicians, artists, activists and scientists in sharing diverse perspectives on the river. Admission: included with museum admission. Time: 10:00 AM to 5:00 PM. Museum of Northern Arizona, 2920 Creekside Drive Flagstaff. For more information, please call 928-774-5213.

Starting today, The 11th Annual Grand Canyon Celebration of Art is held until September 15th at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.

Tomorrow, The Red Rocks Music Festival Concert in partnership with the Sedona International Film Festival, is presenting a special concert, “From Mozart to Gershwin and More”. The concert will include selections by Mozart, Coleridge-Taylor, Gershwin and Webern. Admission: $36 Adults; $14 Children 14 & under. Time: 3:00 PM. Mary D. Fisher Theatre, 2030 W. State Route 89A, Suite A3, Sedona. For more information, please call Patrick Schweiss on 928-282-1177. 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         22    Average: 17.8  (New Listings; Back on Market) 
Under Contract:     18    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      9     Average:  9.4  (Sold; Closed Escrow) 
Off Market:              6     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        15     Average  10.9
Price Increases:            1     Average    0.6 

Contract Ratio:  29.90. The average over the last year is 33.50. 

The Average Price per Square Foot of homes that are Under Contract was $299.86 per square foot. The yearly moving average is $314.84 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.52 per square foot.

Speaking in Zurich, Federal Reserve Chairman Jerome Powell said that the move to lower interest rates has helped sustain U.S. economic growth. He went on to make positive suggestions as the current US economy against the background of weakening economies elsewhere in the world. His comments also covered the uncertainty created by the US-China tariff war and the fact that the US inflation rate was below the Fed’s 2% target.

The Labor Department announced that nonfarm payrolls increased by 130,000. This was in part due to the hiring of Census workers, and was below market expectations. The unemployment rate stayed at 3.7%. U-6, a broader measure, rose to 7.2% from 7.0% as a result of an increase of 397,000 for people working part-time for economic reasons. Wage growth remained steady, and slightly improving. Average hourly earnings increased by 0.4% for the month and 3.2% for the year.

NAR released data on their pending home sales index for July, which fell to 105.6 from 108.3, a 2.5% fall on the month and 0.3 % year on year. Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead Existing-Home Sales data by 1 to 2 months. 

The slightly disappointing nonfarm payrolls number saw yields on US Treasuries fall slightly after having risen during the week. The yield on the 2-Year was around 1.53%; the 5-Year around 1.42%; the 10-Year around 1.55%; the 20-Year around 1.83%, and the 30-Year around 2.02%.

The stock markets closed the week higher, with the Dow Jones Industrial Average up 398.18 at 26,797.46; The S&P 500 up 52.25 at 2,978.71, and The Nasdaq Composite up 140.19 at 8,103.07.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 08/31/2019

by Sean Baguley

 

Weekly Update. August 31st, 2019.
The Earliest Apache in Arizona. Recent research provides evidence of ancestral Apaches in the southern Southwest at least as early as the A.D. 1300s. Join us for a lecture with Dr. Deni J. Seymour, an archaeologist, ethnographer, and ethnohistorian with three decades of personal and professional investment in knowledge about the indigenous tribes of the southern portion of the American Southwest. This lecture is included with park entrance fees. Seating is limited and reservations required. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: 2:00 PM to 3:00 PM. Red Rock State Park, 4050 Red Rock Loop Rd Sedona. For more information, please call 928-282-6907.
Sedona WagFest & Fair. September 21. 9:00 AM to 12:00 PM. A perfect day out for dogs and their humans. This canine event will feature booths where you can shop and learn from the area’s best dog-related product & service providers. Demonstrations & contests will be scheduled throughout the event. It’s FREE, fun, & family-friendly! For the safety: All dogs must be current on vaccinations, be kept on a leash, handlers must be 18 years and clean up after your dogs. The Posse Grounds Pavillion, 525 Posse Ground Rd Sedona. For more information, please call 928-204-7127.
Sedona Winefest. September 28-29, 2019 from 11:00 am - 5:00 pm. We invite you to enjoy fabulous Arizona wines, tasty food, music, and vendors galore while enjoying the breathtaking panoramic views of the majestic red rocks in the heart of Sedona. Welcome to the 11th Annual Sedona Winefest. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, please call 928-593-9694.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         21    Average: 17.7  (New Listings; Back on Market) 
Under Contract:     23    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     15     Average:  9.4  (Sold; Closed Escrow) 
Off Market:               1     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:        18     Average  10.7
Price Increases:            0     Average    0.6
 
Contract Ratio:  31.90. The average over the last year is 33.70. 
The Average Price per Square Foot of homes that are Under Contract was $296.49 per square foot. The yearly moving average is $315.48 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.45 per square foot.
Despite the US-China "trade war" being the main focus of markets, the US consumer seems unconcerned. The July Consumer Spending numbers showed a 0.6% monthly gain in personal spending despite only a 0.1% rise in personal income. Earlier data showed personal consumption rising 4.7% in the second quarter, while savings compared to disposable income fell slightly from 8% to 7.7%.
However, The University of Michigan’s consumer sentiment index was reported to be at 89.8 for August, lower than the number published two weeks ago. With the index at 98.4, this was the largest monthly decline since December 2012.
The Stock markets closed the week with the Dow Jones Industrial Average at 26,403.28; The S&P 500 at 2,926.46, and The Nasdaq Composite at 7,962.88. U.S. government debt yields appeared calm with the yield on the 2-Year at around 1.51%; the 5-Year at around 1.39%; the 10-Year at around 1.49%, and the 30-Year at around 1.96%.
Two articles on Real Estate for your enjoyment. Homeownership is the Top Contributor to Household Wealth from the Mortgage Daily News, and Home Prices Notch 32-Month Growth Streak from Forbes.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. August 31st, 2019.

Have a great Labor Day week end.

The Earliest Apache in Arizona. Recent research provides evidence of ancestral Apaches in the southern Southwest at least as early as the A.D. 1300s. Join us for a lecture with Dr. Deni J. Seymour, an archaeologist, ethnographer, and ethnohistorian with three decades of personal and professional investment in knowledge about the indigenous tribes of the southern portion of the American Southwest. This lecture is included with park entrance fees. Seating is limited and reservations required. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: 2:00 PM to 3:00 PM. Red Rock State Park, 4050 Red Rock Loop Rd Sedona. For more information, please call 928-282-6907.

Sedona WagFest & Fair. September 21. 9:00 AM to 12:00 PM. A perfect day out for dogs and their humans. This canine event will feature booths where you can shop and learn from the area’s best dog-related product & service providers. Demonstrations & contests will be scheduled throughout the event. It’s FREE, fun, & family-friendly! For the safety: All dogs must be current on vaccinations, be kept on a leash, handlers must be 18 years and clean up after your dogs. The Posse Grounds Pavillion, 525 Posse Ground Rd Sedona. For more information, please call 928-204-7127.

Sedona Winefest. September 28-29, 2019 from 11:00 am - 5:00 pm. We invite you to enjoy fabulous Arizona wines, tasty food, music, and vendors galore while enjoying the breathtaking panoramic views of the majestic red rocks in the heart of Sedona. Welcome to the 11th Annual Sedona Winefest. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, please call 928-593-9694.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         21    Average: 17.7  (New Listings; Back on Market) 
Under Contract:     23    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     15     Average:  9.4  (Sold; Closed Escrow) 
Off Market:               1     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        18     Average  10.7
Price Increases:            0     Average    0.6 

Contract Ratio:  31.90. The average over the last year is 33.70.
 
The Average Price per Square Foot of homes that are Under Contract was $296.49 per square foot. The yearly moving average is $315.48 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.45 per square foot.

Despite the US-China "trade war" being the main focus of markets, the US consumer seems unconcerned. The July Consumer Spending numbers showed a 0.6% monthly gain in personal spending despite only a 0.1% rise in personal income. Earlier data showed personal consumption rising 4.7% in the second quarter, while savings compared to disposable income fell slightly from 8% to 7.7%.

However, The University of Michigan’s consumer sentiment index was reported to be at 89.8 for August, lower than the number published two weeks ago. With the index at 98.4, this was the largest monthly decline since December 2012.

The Stock markets closed the week with the Dow Jones Industrial Average at 26,403.28; The S&P 500 at 2,926.46, and The Nasdaq Composite at 7,962.88. U.S. government debt yields appeared calm with the yield on the 2-Year at around 1.51%; the 5-Year at around 1.39%; the 10-Year at around 1.49%, and the 30-Year at around 1.96%.

Two articles on Real Estate for your enjoyment. Homeownership is the Top Contributor to Household Wealth from the Mortgage Daily News, and Home Prices Notch 32-Month Growth Streak from Forbes.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 08/24/2019

by Sean Baguley

 

Weekly Update. August 24th, 2019.
The Literate Lizard is pleased to host author/playwright Darielle Mac presenting her graphic novel Skooter Girl, a fantasy adventure for Young Adults (and 'grown-up' adults) featuring Amber, a spirited, courageous young woman facing challenges both in her personal life and in the world at large. Skooter Girl has received rave reviews on Amazon, Goodreads, and on book-loving blogs everywhere. Admission: Free. Time: 3:00 PM to 5:00 PM. The Literate Lizard, 1575 W SR 89A, Ste D Sedona. For more information, please call 928-862-4018.
The Sedona International Film Festival has two new presentations. The documentary “Marianne & Leonard: Words of Love” which is renowned filmmaker Nick Broomfield’s most personal and romantic film of his storied career. The documentary starts on the Greek island of Hydra in 1960. Also, the award-winning new film “The Reports on Sarah and Saleem” about the affair of a married Palestinian man and a married Israeli woman in Jerusalem that takes on a dangerous political dimension when the two are spotted in the wrong place at the wrong time, leaving them to deal with more than their broken marriages. Admission: $12 general admission; $9 for film festival members. Times: 4:00 PM and 7:00 PM (check website). August 23rd to 28th at the Mary D. Fisher Theatre, 2030 W. State Route 89A Suite A3 Sedona. For more information, please call Patrick Schweiss on 928-862-4018.
The national Smithsonian's Water|Ways exhibit comes to the Verde Valley August 24 - October 5, 2019, hosted at the Camp Verde Community Library. The exhibit explores water's essential component of life on our planet, environmentally, culturally, and historically. It shows the endless motion of the water cycle, its effect on landscape, settlement and migration, and its impact on culture and spirituality. It looks at political and economic efforts to ensure access to water. Admission: free
Time: Library hours. Camp Verde Community Libary, 130 Black Bridge Road Camp Verde.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         25    Average: 17.8  (New Listings; Back on Market)
Under Contract:     25    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     12     Average:  9.4  (Sold; Closed Escrow) 
Off Market:               6     Average:   5.6  (Canceled; Expired; Temporary Off Market)
Price Reductions:         7     Average  10.5
Price Increases:             1     Average    0.7
 
Contract Ratio:  39.40. The average over the last year is 33.80. 
The Average Price per Square Foot of homes that are Under Contract was $286.63 per square foot. The yearly moving average is $316.04 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.48 per square foot.
Following meetings with his economic advisors, President Donald Trump issued a series of tweets regarding the trade war with China, encouraging US Companies to relocate, and the performance of the Federal Reserve. This led to a major sell off in Stock markets with the Dow Jones Industrial Average closing at 25,628.90; The S&P 500 at 2,847.11, and The Nasdaq Composite at 7,751.77. The decline of the Dow’s was just over 4% for August.
As is normal, the yields on US Treasuries fell as fears of recession became the focus of market commentators. The yield curve between the 10-year Treasury yield and the 2-year yield inverted multiple times during Friday’s trading session. The yield on the 2-year was about 1.51%; the 5-year 1.40%; the 10-year 1.52%; the 20-year 1.82%, and the 30-year 2.02%.
The changing US Treasury yields have had an interesting effect on the mortgage markets. Normally, adjustable-rate mortgages (ARMs), offer lower interest rates than fixed-rate loans, as, although they may have slightly more risk, borrowers are unwilling to pay more for that risk. The activity in the Treasury markets and the inverted curve had ARMs showing higher interest rates than the traditional 30-year fixed.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. August 24th, 2019.

The Literate Lizard is pleased to host author/playwright Darielle Mac presenting her graphic novel Skooter Girl, a fantasy adventure for Young Adults (and 'grown-up' adults) featuring Amber, a spirited, courageous young woman facing challenges both in her personal life and in the world at large. Skooter Girl has received rave reviews on Amazon, Goodreads, and on book-loving blogs everywhere. Admission: Free. Time: 3:00 PM to 5:00 PM. The Literate Lizard, 1575 W SR 89A, Ste D Sedona. For more information, please call 928-862-4018.

The Sedona International Film Festival has two new presentations. The documentary “Marianne & Leonard: Words of Love” which is renowned filmmaker Nick Broomfield’s most personal and romantic film of his storied career. The documentary starts on the Greek island of Hydra in 1960. Also, the award-winning new film “The Reports on Sarah and Saleem” about the affair of a married Palestinian man and a married Israeli woman in Jerusalem that takes on a dangerous political dimension when the two are spotted in the wrong place at the wrong time, leaving them to deal with more than their broken marriages. Admission: $12 general admission; $9 for film festival members. Times: 4:00 PM and 7:00 PM (check website). August 23rd to 28th at the Mary D. Fisher Theatre, 2030 W. State Route 89A Suite A3 Sedona. For more information, please call Patrick Schweiss on 928-862-4018.

The national Smithsonian's Water|Ways exhibit comes to the Verde Valley August 24 - October 5, 2019, hosted at the Camp Verde Community Library. The exhibit explores water's essential component of life on our planet, environmentally, culturally, and historically. It shows the endless motion of the water cycle, its effect on landscape, settlement and migration, and its impact on culture and spirituality. It looks at political and economic efforts to ensure access to water. Admission: freeTime: Library hours. Camp Verde Community Libary, 130 Black Bridge Road Camp Verde.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         25    Average: 17.8  (New Listings; Back on Market)
Under Contract:     25    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     12     Average:  9.4  (Sold; Closed Escrow) 
Off Market:               6     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:         7     Average  10.5
Price Increases:            1     Average    0.7 

Contract Ratio:  39.40. The average over the last year is 33.80.
 
The Average Price per Square Foot of homes that are Under Contract was $286.63 per square foot. The yearly moving average is $316.04 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $278.48 per square foot.

Following meetings with his economic advisors, President Donald Trump issued a series of tweets regarding the trade war with China, encouraging US Companies to relocate, and the performance of the Federal Reserve. This led to a major sell off in Stock markets with the Dow Jones Industrial Average closing at 25,628.90; The S&P 500 at 2,847.11, and The Nasdaq Composite at 7,751.77. The decline of the Dow’s was just over 4% for August.

As is normal, the yields on US Treasuries fell as fears of recession became the focus of market commentators. The yield curve between the 10-year Treasury yield and the 2-year yield inverted multiple times during Friday’s trading session. At the close on Friday, the yield on the 2-year was about 1.51%; the 5-year 1.40%; the 10-year 1.52%; the 20-year 1.82%, and the 30-year 2.02%.

The changing US Treasury yields have had an interesting effect on the mortgage markets. Normally, adjustable-rate mortgages (ARMs), offer lower interest rates than fixed-rate loans, as, although they may have slightly more risk, borrowers are unwilling to pay more for that risk. The activity in the Treasury markets and the inverted curve had ARMs showing higher interest rates than the traditional 30-year fixed.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 08/17/2019

by Sean Baguley

 

Weekly Update. August 17th, 2019.
Red Rocks Music Festival presents: “Piazzolla- the Genius of Tango”. Grammy- Nominated violinist, Elmira Darvarova, New- York Philharmonic hornist, Howard Wall, and pianist/composer, Thomas Weaver, perform Tango arrangements of selections by Piazzolla, all AZ premiers. Admission: Adult- $36 children 14 & under- $14. Time: From: 3:00 PM to 5:00 PM. Sedona Creative Life Center, 333 Schnebly Hill Rd Sedona. For more information, call 602-402-4551.
The Sedona Arts Center Member Summer Co-op Exhibition & Sale runs from August 2nd to 23rd, 2019. Members of the Sedona Arts Center will be selling and exhibiting their work throughout the month of August. Sedona Arts Center, 15 Art Barn Rd Sedona. For more information, call (928) 282-3809 or (888) 954-4442.
The Sedona Photography Symposium runs from August 22nd to 25th, 2019. Join fellow photo enthusiasts for 4 days of inspiring presentations, breakout sessions and field workshops in one of the world's most magnificent landscapes: Sedona Creative Life Center, 333 Schnebly Hill Rd Sedona.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         11    Average: 17.6  (New Listings; Back on Market)
Under Contract:     27    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      15     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.5  (Canceled; Expired; Temporary Off Market)
Price Reductions:        15     Average  10.5
Price Increases:            1     Average    0.7
 
Contract Ratio:  39.20. The average over the last year is 33.90. 
The Average Price per Square Foot of homes that are Under Contract was $282.53 per square foot. The yearly moving average is $316.63 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $277.81 per square foot. 
Please note the continuing absorption of inventory shown by the number of Pending and Closed versus the number of New Listings. However, the annual slow-down in the Sedona market, with the Monsoon and Back-to-School, has Sellers reducing prices to attract interest. 
US Treasury yields rose from their historic lows of Thursday as fears a global slowdown retreated slightly. Friday is also typically the day that short term traders close their positions to avoid unforeseen news appearing over the week end. The yield on the 2-Year note was around 1.49%; the 5-Year around 1.42%; the 10-Year around 1.56%, and the 30-Year around 2.04%. The inverted yield curve, between the 2-Year and the 5-Year, remains as a possible indicator of recession in the U.S. economy. However, historically it is the relationship between 2-Year and 10-Year which is seen as the major indicator. After a very brief moment, which led to a knee-jerk reaction in equity markets, these two yields reverted to a more normal relationship. 
As former Fed Chair Janet Yellen pointed out, there are a number of other indicators (Retail sales; Unemployment.), which show the US economy is continuing to grow. Economists surveyed in the CNBC/Moody’s Analytics Rapid Update raised their forecasts for third quarter GDP by 0.2 to a median 2.1%. One must also consider that other global economies, including Europe and China, are shrinking, and the flight to quality by international investors into US Treasuries has a significant effect.
The average rate on the 30-year fixed mortgage is nearly a full percentage point lower than it was a year ago. In fact, they have dropped from 4.1% down to 3.6% during the past four months. However, there are not enough homes being built to meet demand. This is somewhat to do with builders concerns about the larger economy and trade.
The latest National Association of Home Builders/Wells Fargo Housing Market Index showed builder confidence for single-family homes at 66 in August, 1 point higher than it was in July, and down from 67 in August 2018. The Index has remained between 64 and 66 for the past four months, where a number above 50 is considered positive. NAHB Chairman Greg Ugalde is quoted as saying, "Even as builders report a firm demand for single-family homes, they continue to struggle with rising construction costs stemming from excessive regulations, a chronic shortage of workers and a lack of buildable lots.”
Equity markets closed the week off the bottom, with the Dow Jones Industrial Average at 25,886.01; the S&P 500 at 2,888.68 and the Nasdaq Composite at 7,895.99.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. August 17th, 2019.

Red Rocks Music Festival presents: “Piazzolla- the Genius of Tango”. Grammy- Nominated violinist, Elmira Darvarova, New- York Philharmonic hornist, Howard Wall, and pianist/composer, Thomas Weaver, perform Tango arrangements of selections by Piazzolla, all AZ premiers. Admission: Adult- $36 children 14 & under- $14. Time: From: 3:00 PM to 5:00 PM. Sedona Creative Life Center, 333 Schnebly Hill Rd Sedona. For more information, call 602-402-4551.

The Sedona Arts Center Member Summer Co-op Exhibition & Sale runs from August 2nd to 23rd, 2019. Members of the Sedona Arts Center will be selling and exhibiting their work throughout the month of August. Sedona Arts Center, 15 Art Barn Rd Sedona. For more information, call (928) 282-3809 or (888) 954-4442.

The Sedona Photography Symposium runs from August 22nd to 25th, 2019. Join fellow photo enthusiasts for 4 days of inspiring presentations, breakout sessions and field workshops in one of the world's most magnificent landscapes: Sedona Creative Life Center, 333 Schnebly Hill Rd Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         11    Average: 17.6  (New Listings; Back on Market)
Under Contract:     27    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     15     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        15     Average  10.5
Price Increases:             1     Average    0.7 

Contract Ratio:  39.20. The average over the last year is 33.90.
 
The Average Price per Square Foot of homes that are Under Contract was $282.53 per square foot. The yearly moving average is $316.63 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $277.81 per square foot. 

Please note the continuing absorption of inventory shown by the number of Pending and Closed versus the number of New Listings. However, the annual slow-down in the Sedona market, with the Monsoon and Back-to-School, has Sellers reducing prices to attract interest.
 
US Treasury yields rose from their historic lows of Thursday as fears a global slowdown retreated slightly. Friday is also typically the day that short term traders close their positions to avoid unforeseen news appearing over the week end. The yield on the 2-Year note was around 1.49%; the 5-Year around 1.42%; the 10-Year around 1.56%, and the 30-Year around 2.04%. The inverted yield curve, between the 2-Year and the 5-Year, remains as a possible indicator of recession in the U.S. economy. However, historically it is the relationship between 2-Year and 10-Year which is seen as the major indicator. After a very brief moment, which led to a knee-jerk reaction in equity markets, these two yields reverted to a more normal relationship.
 
As former Fed Chair Janet Yellen pointed out, there are a number of other indicators (Retail Sales; Unemployment.), which show the US economy is continuing to grow. Economists surveyed in the CNBC/Moody’s Analytics Rapid Update raised their forecasts for third quarter GDP by 0.2 to a median 2.1%. One must also consider that other global economies, including Europe and China, are shrinking, and the flight to quality by international investors into US Treasuries has a significant effect.

The average rate on the 30-year fixed mortgage is nearly a full percentage point lower than it was a year ago. In fact, they have dropped from 4.1% down to 3.6% during the past four months. However, there are not enough homes being built to meet demand. This is somewhat to do with builders concerns about the larger economy and trade.

The latest National Association of Home Builders/Wells Fargo Housing Market Index showed builder confidence for single-family homes at 66 in August, 1 point higher than it was in July, and down from 67 in August 2018. The Index has remained between 64 and 66 for the past four months, where a number above 50 is considered positive. NAHB Chairman Greg Ugalde is quoted as saying, "Even as builders report a firm demand for single-family homes, they continue to struggle with rising construction costs stemming from excessive regulations, a chronic shortage of workers and a lack of buildable lots.”

Equity markets closed the week off the bottom, with the Dow Jones Industrial Average at 25,886.01; the S&P 500 at 2,888.68 and the Nasdaq Composite at 7,895.99.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 08/10/2019

by Sean Baguley

 

Weekly Update. August 10th, 2019.
Join Chef Walter Paulson at Rene Restaurant in Tlaquepaque for another great Lobster Extravaganza during the month of August. Chef Walter has created great Lobster dishes that will be offered at both lunch and dinner. Live Maine Lobsters flown in daily will be available nightly for a wonderful dining experience as only Rene can deliver. Time: From: 12:00 PM to 9:00 PM. Rene Restaurant, (in Tlaquepaque) 338 SR 179, Suite B-118 Sedona. For more information, call Ron Moler on 928-282-9225.
The Muse Gallery invites you to come listen to live music in our garden and support local artists. Come join us in #OTC in celebrating all of the stellar wine rooms, galleries, and fabulous shopping and cuisine. Live music in most venues, and meet the artists as well. Some open until 9, but some open only until 7 - so come down early! Second Saturday, every month. The Muse Gallery, 735 N. Main St. Studio A Cottonwood. For more information, call Jeremia on 928-634-0003.
The National Theatre of London continues its season with its acclaimed new production of “The Lehman Trilogy” showing in Sedona on Sunday, Aug. 11 at 2 p.m. The Sedona International Film Festival hosts the big screen premiere at its Mary D. Fisher Theatre. “The Lehman Trilogy” is the story of a family and a company that changed the world, told in three parts on a single evening. Academy Award-winner Sam Mendes (American Beauty, Skyfall) directs Simon Russell Beale, Adam Godley and Ben Miles. Admission: $15 general admission; $12.50 film festival members. Time: 2:00 PM. Mary D. Fisher Theatre, 2030 W. State Route 89A Suite A3 Sedona. For more information, call Patrick Schweiss on 928-282-1177.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         20    Average: 17.6  (New Listings; Back on Market)
Under Contract:     23    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:        6     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)
Price Reductions:         3     Average  10.3
Price Increases:            0     Average    0.7
 
Contract Ratio:  41.40. The average over the last year is 34.00. 
The Average Price per Square Foot of homes that are Under Contract was $285.83 per square foot. The yearly moving average is $317.36 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $277.31 per square foot.
The yields on US Treasuries fell dramatically during the week. The yield on the 2-year was around 1.65%; the 5-yer around 1.58%; the 10-year around 1.75%, and the 30-year 2.26%. Commentators concentrated on concerns about an economic slowdown and the continuing dispute between the US and China.
The same concerns about the economic situation saw the Stock markets retreat. The Dow Jones Industrial Average closed the week at 26,287.44; The S&P 500  at 2,918.65, and The Nasdaq Composite at 7,959.14.
Falling interest rates and Treasury yields translated into the average rate for a 30-year fixed mortgage fallening below 4%. According to the Mortgage Bankers Association, while there was a slight increase in home purchases, refinancing was the main focus. Applications to refinance were up 116% this week compared with a year ago.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. August 10th, 2019.

Join Chef Walter Paulson at Rene Restaurant in Tlaquepaque for another great Lobster Extravaganza during the month of August. Chef Walter has created great Lobster dishes that will be offered at both lunch and dinner. Live Maine Lobsters flown in daily will be available nightly for a wonderful dining experience as only Rene can deliver. Time: From: 12:00 PM to 9:00 PM. Rene Restaurant, (in Tlaquepaque) 338 SR 179, Suite B-118 Sedona. For more information, call Ron Moler on 928-282-9225.

The Muse Gallery invites you to come and listen to live music in their garden and support local artists. Join them in Old Town Cottonwood and celebrate all of the stellar wine rooms, galleries, fabulous shopping and cuisine. Live music in most venues, and you get to meet the artists as well. Some open until 9:00 PM, while some are open only until 7:00 PM. Second Saturday, every month. The Muse Gallery, 735 N. Main St. Studio A Cottonwood. For more information, call Jeremia on 928-634-0003.

The National Theatre of London continues its season with its acclaimed new production of “The Lehman Trilogy” showing in Sedona on Sunday, Aug. 11 at 2 p.m. The Sedona International Film Festival hosts the big screen premiere at its Mary D. Fisher Theatre. “The Lehman Trilogy” is the story of a family and a company that changed the world, told in three parts on a single evening. Academy Award-winner Sam Mendes (American Beauty, Skyfall) directs Simon Russell Beale, Adam Godley and Ben Miles. Admission: $15 general admission; $12.50 film festival members. Time: 2:00 PM. Mary D. Fisher Theatre, 2030 W. State Route 89A Suite A3 Sedona. For more information, call Patrick Schweiss on 928-282-1177.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         20    Average: 17.6  (New Listings; Back on Market)
Under Contract:     23    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:         3     Average  10.3
Price Increases:            0     Average    0.7 

Contract Ratio:  41.40. The average over the last year is 34.00.
 
The Average Price per Square Foot of homes that are Under Contract was $285.83 per square foot. The yearly moving average is $317.36 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $277.31 per square foot.

The yields on US Treasuries fell dramatically during the week. The yield on the 2-year was around 1.65%; the 5-yer around 1.58%; the 10-year around 1.75%, and the 30-year 2.26%. Commentators concentrated on concerns about an economic slowdown and the continuing dispute between the US and China.

The same concerns about the economic situation saw the Stock Markets retreat. The Dow Jones Industrial Average closed the week at 26,287.44; The S&P 500 at 2,918.65, and The Nasdaq Composite at 7,959.14.

Falling interest rates and Treasury yields translated into the average rate for a 30-year fixed mortgage fallening below 4%. According to the Mortgage Bankers Association, while there was a slight increase in home purchases, refinancing was the main focus. Applications to refinance were up 116% this week compared with a year ago.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 08/03/2019

by Sean Baguley

Weekly Update. August 3rd, 2019.

The Sedona International Film Festival presents the lavish Tony Award-winning musical “Kinky Boots” from London’s West End, from August 2nd to 7th. With songs by Grammy and Tony-winning pop icon Cyndi Lauper, direction and choreography by Jerry Mitchell and book by Broadway legend Harvey Fierstein, this dazzling, fabulously sassy and uplifting award-winning musical celebrates a joyous story of Brit grit to high-heeled hit. Admission: $15 general admission; $12.50 film festival membersTime: 4:00 PM and 7:00 PM. (check website). Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. For more information call Patrick Schweiss, 928-282-1177.

70th Annual Navajo Festival of Arts & Culture. Immerse yourself in the artistry and cultural traditions of the Navajo people, who continue to live on their ancestral lands on the Colorado Plateau, as they have for thousands of years. More than 80 award-winning Navajo artists come to the festival to demonstrate and sell their silver work, weaving, painting and other artwork. The festival includes talks and presentations about Navajo history and traditions, as well as music and dance performances. Time: From: 9:00 AM to 5:00 PM. Weekend Pass: $18 adult, $12 youth/student/American Indian. Daily Admission: $12 adult; $8 youth (10-17), student (w/ ID) & American Indian (w/ tribal card). Free for Museum members & children under 10. Museum of Northern Arizona, 3101 N Fort Valley Rd Flagstaff. For more information call 928-774-5213.

From August 22nd to 25th, we have the Sedona Photography Symposium. Join fellow photo enthusiasts for 4 days of inspiring presentations, breakout sessions and field workshops in one of the world's most magnificent landscapes: Sedona, AZ! Sedona Creative Life Center, 333 Schnebly Hill Rd Sedona.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         19    Average: 17.7  (New Listings; Back on Market)
Under Contract:     23    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     
13     Average: 9.2  (Sold; Closed Escrow) 

Off Market:               7     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:         8     Average  10.3
Price Increases:            1     Average    0.7 

Contract Ratio:  40.30. The average over the last year is 33.90. 

The Average Price per Square Foot of homes that are Under Contract was $286.78 per square foot. The yearly moving average is $318.23 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $276.84 per square foot.

As expected, the Federal Reserve reduced its benchmark rate by 0.25%. The new band is 2% to 2.25%. The announcement was accompanied by remarks from Jerome Powell noting that this move was not part of a long term loosening policy. The fears that the Fed was reacting to a possible recession and the president's announcement of further tariffs on all Chinese imports, saw the Stock Markets react negatively. The Dow closed the week at 26,485.01; The Nasdaq at 8004.07, and the S&P at 2,932.05.

Given the uncertainties on trade and ongoing international tensions, the flight to quality saw substantial reductions in US Treasury yields. The 2-year was around 1.71%; the 5-year 1.66%; the 10-year 1.84%, and the 30-year 2.38%. 

The University of Michigan announced that its consumer sentiment index for July was at 98.4, the same as the earlier number posted in the middle of July. This was marginally below market expectations, but higher than the June number of 98.2. The reported also showed the strongest net personal financial expectations since May 2003. Despite the concerns about international trade and the relationship with China, the Index has remained remarkably positive.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 07/27/2019

by Sean Baguley

 

Weekly Update. July 27th, 2019.
August 2, 2019. Join us to celebrate Sedona’s dark skies 7:00 PM to 9:30 PM at the Sedona Star Party. This free community event will give locals the chance to view the Summer Milky Way, Jupiter, Saturn and Mars, and more! The astronomers of the Verde Valley will provide telescopes for free viewing and laser guided constellation tours. Mark your calendar, bring a blanket, and join us for this fun community event! No dogs allowed (thank you). Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information call 928-282-7890, or 800-288-7336.
The Sedona Arts Center Member Summer Co-op will run from August 2 to August 23, 2019. Members of the Sedona Arts Center will be selling and exhibiting their work throughout the month of August. The Sedona Arts Center, 15 Art Barn Rd Sedona. For more information call 928-282-3809, or 888-954-4442.
Red Rocks Music Festival presents four extraordinary concerts. On August 18 is Piazzolla- the Genius of Tango; On September 7, "East meets West"; On September 8, from Mozart to Gershwin and more, and on September 21, "Polonaise - Fantasie", the story of a pianist. Sedona Creative Life Center, 333 Schnebly Hill Rd, Sedona. For more information call 602-402-4551.
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         13    Average: 17.9  (New Listings; Back on Market)
Under Contract:     21    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:        7     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               4     Average:   5.6  (Canceled; Expired; Temporary Off Market)
Price Reductions:         8     Average  10.2
Price Increases:            1     Average    0.7
 
Contract Ratio:  43.80. The average over the last year is 33.90. 
The Average Price per Square Foot of homes that are Under Contract was $280.53 per square foot. The yearly moving average is $319.03 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $276.94 per square foot.
The Commerce Department announced that GDP increased 2.1%, down from the first quarter’s 3.1% and the weakest increase since Q1 of 2017. The lower level of growth was less than market expectations given the impact of tariffs and a general global economic slowdown. The report also showed consumption rise 4.3%. This is the best performance since the fourth quarter of 2017, and seems to have somewhat reduced the fears of a recession.
Following the GDP numbers, the general expectation is for the Fed to cut interest rates by a quarter point on Wednesday. This move would be considered to be indicative of the Feds desire to avoid a slowdown in the economy, especially as inflation does not appear to be a factor. Core PCE inflation rose only 1.8%. While this is higher than the 1.1% in the first quarter, it is still below the Fed’s 2% target.
The better GDP, and some strong earnings reports, saw The Dow Jones Industrial Average close at 27,192.45; The S&P 500 close at 3,025.86, and the tech heavy Nasdaq Composite close at an all-time high at 8,330.21. US Treasuries were little changed with the yield on the benchmark 10-year Treasury note at around 2.07%, and the yield on the 30-year Treasury bond at around 2.59%.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. July 27th, 2019.

August 2, 2019. Join us to celebrate Sedona’s dark skies 7:00 PM to 9:30 PM at the Sedona Star Party. This free community event will give locals the chance to view the Summer Milky Way, Jupiter, Saturn and Mars, and more! The astronomers of the Verde Valley will provide telescopes for free viewing and laser guided constellation tours. Mark your calendar, bring a blanket, and join us for this fun community event! No dogs allowed (thank you). Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information call 928-282-7890, or 800-288-7336.

The Sedona Arts Center Member Summer Co-op will run from August 2 to August 23, 2019. Members of the Sedona Arts Center will be selling and exhibiting their work throughout the month of August. The Sedona Arts Center, 15 Art Barn Rd Sedona. For more information call 928-282-3809, or 888-954-4442.

Red Rocks Music Festival presents four extraordinary concerts. On August 18 is Piazzolla- the Genius of Tango; On September 7, "East meets West"; On September 8, from Mozart to Gershwin and more, and on September 21, "Polonaise - Fantasie", the story of a pianist. Sedona Creative Life Center, 333 Schnebly Hill Rd, Sedona. For more information call 602-402-4551.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         13    Average: 17.9  (New Listings; Back on Market)
Under Contract:     21    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               4     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:         8     Average  10.2
Price Increases:            1     Average    0.7 

Contract Ratio:  43.80. The average over the last year is 33.90.
 
The Average Price per Square Foot of homes that are Under Contract was $280.53 per square foot. The yearly moving average is $319.03 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $276.94 per square foot.

The Commerce Department announced that GDP increased 2.1%, down from the first quarter’s 3.1% and the weakest increase since Q1 of 2017. The lower level of growth was less than market expectations given the impact of tariffs and a general global economic slowdown. The report also showed consumption rise 4.3%. This is the best performance since the fourth quarter of 2017, and seems to have somewhat reduced the fears of a recession.

Following the GDP numbers, the general expectation is for the Fed to cut interest rates by a quarter point on Wednesday. This move would be considered to be indicative of the Feds desire to avoid a slowdown in the economy, especially as inflation does not appear to be a factor. Core PCE inflation rose only 1.8%. While this is higher than the 1.1% in the first quarter, it is still below the Fed’s 2% target.

The better GDP, and some strong earnings reports, saw The Dow Jones Industrial Average close at 27,192.45; The S&P 500 close at 3,025.86, and the tech heavy Nasdaq Composite close at an all-time high at 8,330.21. US Treasuries were little changed with the yield on the benchmark 10-year Treasury note at around 2.07%, and the yield on the 30-year Treasury bond at around 2.59%.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Sedona Real Estate 07/20/2019

by Sean Baguley

 

Weekly Update. July 20th, 2019.
Paint Along For Fun at Vino Di Sedona. Follow step by step instruction by local artist Phyllis Anglin to create your own souvenir painting. No artistic ability required, this is an event is fun for everyone! Reservations are required participate. Admission: $30. Time: From: 11:00 AM to 1:30 PM. Vino Di Sedona Fine Wine & Craft Beer. 2575 W State Route 89A Sedona. For more information, call Rebecca on 928-554-4682.
The Verde Canyon Railroad offers this monthly Starlight excursion on select Saturdays June through September, departing the depot during the cooler temperatures of later afternoon and traveling through sunset and into the moon glow of twilight. Sandwiched between two protected national forests and adjacent to the Sycamore Canyon Wilderness, Verde Canyon Railroad brings its passengers into a untamed and unspoiled terrain, the exceedingly rare ribbon where high desert meets the river. Admission: $64.95-$89.95. Time: From: 5:30 PM to 9:30 PM. The Depot, 300 N Broadway Clarkdale. For more information, call Ellen on 800-293-7245.  
Real Estate Information - Sedona Single Family Residential Homes ONLY.
All the Averages are for 1 year, and this week's numbers are,
New Listings:         24    Average: 17.9  (New Listings; Back on Market)
Under Contract:     27    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      11     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               9     Average:   5.6  (Canceled; Expired; Temporary Off Market)
Price Reductions:         8     Average  10.2
Price Increases:            0     Average    0.7
 
Contract Ratio:  40.00. The average over the last year is 34.00. 
The Average Price per Square Foot of homes that are Under Contract was $287.74 per square foot. The yearly moving average is $319.94 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $275.50 per square foot.
The University of Michigan’s preliminary number for its Consumer Sentiment index showed a  rise to 98.4, from 98.2 in June. The report comes ahead of the Federal Open Market Committee meeting due on July 30th and 31st. The current market expectation is for the central bank to reduce its benchmark interest rate, even though the economy continues to expand.
Nervousness, partly due to international tension after Iran captured a British oil tanker in the Gulf, saw a flight to quality so that the yields on US Treasuries closed the week at slightly lower levels than this time last week. The 2-year was around 1.82%; the 5-year at around 1.82%; the 10-year at around 2.06%, and the 30-year at around 2.58%. Additionally, the Stock markets closed down on the week with the Dow Jones Industrial Average at 27,154.20, the S&P 500 at 2,976.61, and the Nasdaq Composite at 8,146.49.
Sean Baguley.
Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

 

Weekly Update. July 20th, 2019.

Paint Along For Fun at Vino Di Sedona. Follow step by step instruction by local artist Phyllis Anglin to create your own souvenir painting. No artistic ability required, this is an event is fun for everyone! Reservations are required participate. Admission: $30. Time: From: 11:00 AM to 1:30 PM. Vino Di Sedona Fine Wine & Craft Beer. 2575 W State Route 89A Sedona. For more information, call Rebecca on 928-554-4682.

The Verde Canyon Railroad offers this monthly Starlight Excursion on select Saturdays June through September, departing the depot during the cooler temperatures of later afternoon and traveling through sunset and into the moon glow of twilight. Sandwiched between two protected national forests and adjacent to the Sycamore Canyon Wilderness, Verde Canyon Railroad brings its passengers into a untamed and unspoiled terrain, the exceedingly rare ribbon where high desert meets the river. Admission: $64.95-$89.95. Time: From: 5:30 PM to 9:30 PM. The Depot, 300 N Broadway Clarkdale. For more information, call Ellen on 800-293-7245.
  
Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year, and this week's numbers are,

New Listings:         24    Average: 17.9  (New Listings; Back on Market)
Under Contract:     27    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     11     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               9     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:         8     Average  10.2
Price Increases:            0     Average    0.7 

Contract Ratio:  40.00. The average over the last year is 34.00.
 
The Average Price per Square Foot of homes that are Under Contract was $287.74 per square foot. The yearly moving average is $319.94 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $275.50 per square foot.

The University of Michigan’s preliminary number for its Consumer Sentiment index showed a  rise to 98.4, from 98.2 in June. The report comes ahead of the Federal Open Market Committee meeting due on July 30th and 31st. The current market expectation is for the central bank to reduce its benchmark interest rate, even though the economy continues to expand.

Nervousness, partly due to international tension after Iran captured a British oil tanker in the Gulf, saw a flight to quality so that the yields on US Treasuries closed the week at slightly lower levels than this time last week. The 2-year was around 1.82%; the 5-year at around 1.82%; the 10-year at around 2.06%, and the 30-year at around 2.58%. Additionally, the Stock markets closed down on the week with the Dow Jones Industrial Average at 27,154.20, the S&P 500 at 2,976.61, and the Nasdaq Composite at 8,146.49.

Sean Baguley.

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

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Sean Baguley
Better Homes and Gardens BloomTree Realty
1350 W. State Route 89A, Suite 26
Sedona AZ 86336
Cell: (928) 399-4700