Weekly Update. June 8, 2019.
Flagstaff Blues and Brews. The 7th Annual Flagstaff Blues and Brews grows to 2 days, June 7th and June 8th, in Flagstaff, Arizona! This year’s festival includes, Headliner The Kenny Wayne Shepherd Band, Larkin Joe, Samantha Fish and Tab Benoit. Join us for 2 days of incredible Blues Music with a total of 10 bands, there will be beer, wine, arts and craft vendors, a variety of food vendors, and a kid’s area. Kids 12 and under are free! Thank you to our sponsors, Peak Events, Grogan Electric, Twin Arrows Casino, Hensley. Admission: $30-$150. Time: 2:30 to 9:00 PM and 11:00 AM to 8:00 PM. Continental Country Club Driving Range, 5000 Old Walnut Canyon Rd Flagstaff. For more information, call Jennifer on 928-606-7600.
Grand Canyon Wolf Recovery. Learn about wolf behaviors, pack structure, hunting habits, the biological niche wolves fill in healthy ecosystems and the historical role wolves played in this vicinity. Admission: $12 Adult, $10 Sr./Military, $8 Youth (10-17) student w/ ID & American Indian, Members and ages 9 and under free. Time: From: 2:00 PM to 3:00 PM. 3101 N Fort Valley Rd Flagstaff. For more information, call 928-774-5213.
The Sedona International Film Festival is proud to present the acclaimed new drama “The Mustang” — from executive producer Robert Redford. "The Mustang” stars Matthias Schoenaearts, Bruce Dern and Jason Mitchell. Roman Coleman (Matthias Schoenaerts) is halfway through serving an 11-year sentence for domestic violence at the Northern Nevada Correctional Center, when he is selected to participate in an “outdoor maintenance” program. Admission: $12 general admission; $9 for film festival members
Time: 4:00 PM and 7:00 PM. Mary D Fisher Theatre, 2030 W State Route 89A Ste 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:         21    Average: 17.9  (New Listings; Back on Market)
Under Contract:     20    Average: 21.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      4     Average: 9.2  (Sold; Closed Escrow) 
Off Market:              13     Average:   5.6  (Canceled; Expired; Temporary Off Market)
Price Reductions:        9     Average   10.0
Price Increases:           1     Average   0.8
 
Contract Ratio:  40.70. The average over the last year is 34.70. 
The Average Price per Square Foot of homes that are Under Contract was $289.92 per square foot. The yearly moving average is $324.45 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $273.91 per square foot.
Job creation had a set back in May. The Labor Department announced that nonfarm payrolls rose by only 75,000. The previous two months were also revised downwards. March’s number fell from 189,000 to 153,000 and the April number was reduced to 224,000 from 263,000.
The unemployment rate stayed at 3.6%, the lowest since December 1969. U-6, a broader measure that encompasses discouraged workers and the underemployed holding part-time jobs for economic reasons, sometimes referred to as "the real unemployment rate", fell from 7.3% to 7.1%, its lowest reading since December 2000.
The set back in the job market meant that investors believe that the Federal Reserve will move to cut rates this year, as early as next month. The 2-year Treasury note, which reflects Fed policy, was yielding 1.78% yesterday morning, well below the 2.25% reached in late May. The yield on the benchmark 10-year Treasury note was down to 2.06%, and the yield on the 30-year Treasury bond was down to around 2.57%.
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. June 8, 2019.

Flagstaff Blues and Brews. The 7th Annual Flagstaff Blues and Brews grows to 2 days, June 7th and June 8th, in Flagstaff, Arizona! This year’s festival includes, Headliner The Kenny Wayne Shepherd Band, Larkin Joe, Samantha Fish and Tab Benoit. Join us for 2 days of incredible Blues Music with a total of 10 bands, there will be beer, wine, arts and craft vendors, a variety of food vendors, and a kid’s area. Kids 12 and under are free! Thank you to our sponsors, Peak Events, Grogan Electric, Twin Arrows Casino, Hensley. Admission: $30-$150. Time: 2:30 to 9:00 PM and 11:00 AM to 8:00 PM. Continental Country Club Driving Range, 5000 Old Walnut Canyon Rd Flagstaff. For more information, call Jennifer on 928-606-7600.

Grand Canyon Wolf Recovery. Learn about wolf behaviors, pack structure, hunting habits, the biological niche wolves fill in healthy ecosystems and the historical role wolves played in this vicinity. Admission: $12 Adult, $10 Sr./Military, $8 Youth (10-17) student w/ ID & American Indian, Members and ages 9 and under free. Time: From: 2:00 PM to 3:00 PM. 3101 N Fort Valley Rd Flagstaff. For more information, call 928-774-5213.

The Sedona International Film Festival is proud to present the acclaimed new drama “The Mustang” — from executive producer Robert Redford. "The Mustang” stars Matthias Schoenaearts, Bruce Dern and Jason Mitchell. Roman Coleman (Matthias Schoenaerts) is halfway through serving an 11-year sentence for domestic violence at the Northern Nevada Correctional Center, when he is selected to participate in an “outdoor maintenance” program. Admission: $12 general admission; $9 for film festival membersTime: 4:00 PM and 7:00 PM. Mary D Fisher Theatre, 2030 W State Route 89A Ste 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:         19    Average: 17.9  (New Listings; Back on Market)
Under Contract:    20    Average: 21.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      4     Average: 9.2  (Sold; Closed Escrow) 
Off Market:              13     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        9     Average   10.0
Price Increases:           1     Average   0.8 

Contract Ratio:  40.70. The average over the last year is 34.70. 

The Average Price per Square Foot of homes that are Under Contract was $289.92 per square foot. The yearly moving average is $324.45 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $273.91 per square foot.

Job creation had a setback in May. The Labor Department announced that nonfarm payrolls rose by only 75,000. The previous two months were also revised downwards. March’s number fell from 189,000 to 153,000 and the April number was reduced to 224,000 from 263,000.

The unemployment rate stayed at 3.6%, the lowest since December 1969. U-6, a broader measure that encompasses discouraged workers and the underemployed holding part-time jobs for economic reasons, sometimes referred to as "the real unemployment rate", fell from 7.3% to 7.1%, its lowest reading since December 2000.

The setback in the job market meant that investors now believe that the Federal Reserve will move to cut rates this year, as early as next month. The 2-year Treasury note, which reflects Fed policy, was yielding 1.78% yesterday morning, well below the 2.25% reached in late May. The yield on the benchmark 10-year Treasury note was down to 2.06%, and the yield on the 30-year Treasury bond was down to around 2.57%.

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.