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.