Real Estate Information

Weekly Update. July 22, 2017.

There's lots going on today in Sedona. I've mentioned the Guided Nature Walks and Bird Walks previously, but Sedona is a haven for artists, so there are a number of activities to enjoy. For instance a Colored Pencil Adventure with Richard Drayton and, for music lovers, "Carmen" Met Opera Summer Encore and in the evening some blues with Sir Harrison.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:     16    Average: 16.4   (New Listings; Back on Market)
Under Contract:   16     Average: 21.1   (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:    12     Average:  9.2   (Sold; Closed Escrow) 
Off Market:            1     Average:  6.7 (Canceled; Expired; Temporary Off Market)

Price Reductions:      8     Average   11.1
Price Increases:         0     Average    0.6 

Contract Ratio:  27.70. The average over the last year is 28.5.

The Average Price per Square Foot of homes that are Under Contract was $258.80 per square foot. The yearly moving average is $244.83 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $235.94 per square foot.

U.S. homebuilding improved more than expected in June after declining for three straight months. However, construction activity remained somewhat constrained by rising lumber prices and labor and land shortages.

The Commerce Department annouced that Housing starts rose 8.3% to a seasonally adjusted annual rate of 1.22 million units. This is the highest level since February. Both single-family and multi-family construction increased. May's number was revised upwards to 1.12 million units from the previously reported 1.09 million units.

Building permits in June increased 7.4% to a seasonally adjusted annualized rate of 1,254 thousand from 1,168 thousand in May. This was above the market expectation of 1,200 thousand. In June, permits for the construction of multi-family homes rose 13.9% to 443 thousand, and single-family authorizations increased for the first time in four months by 4.1% to 811 thousand.

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.   

Weekly Update. July 22, 2017.

There's lots going on today in Sedona. I've mentioned the Guided Nature Walks and Bird Walks previously, but Sedona is a haven for artists, so there are a number of activities to enjoy. For instance a Colored Pencil Adventure with Richard Drayton and, for music lovers, "Carmen" Met Opera Summer Encore and in the evening some blues with Sir Harrison.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:     16    Average: 16.4   (New Listings; Back on Market)
Under Contract:   16     Average: 21.1   (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:    12     Average:  9.2   (Sold; Closed Escrow) 
Off Market:            1     Average:  6.7 (Canceled; Expired; Temporary Off Market)

Price Reductions:      8     Average   11.1
Price Increases:         0     Average    0.6 

Contract Ratio:  27.70. The average over the last year is 28.5.

The Average Price per Square Foot of homes that are Under Contract was $258.80 per square foot. The yearly moving average is $244.83 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $235.94 per square foot.

U.S. homebuilding improved more than expected in June after declining for three straight months. However, construction activity remained somewhat constrained by rising lumber prices and labor and land shortages.

The Commerce Department annouced that Housing starts rose 8.3% to a seasonally adjusted annual rate of 1.22 million units. This is the highest level since February. Both single-family and multi-family construction increased. May's number was revised upwards to 1.12 million units from the previously reported 1.09 million units.

Building permits in June increased 7.4% to a seasonally adjusted annualized rate of 1,254 thousand from 1,168 thousand in May. This was above the market expectation of 1,200 thousand. In June, permits for the construction of multi-family homes rose 13.9% to 443 thousand, and single-family authorizations increased for the first time in four months by 4.1% to 811 thousand.

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.   

Weekly Update. July 15, 2017.

There are still lots of activities, events, and things to do in Sedona, and today is a very busy day.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:     12    Average: 16.4   (New Listings; Back on Market)
Under Contract:   16     Average: 21.1   (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     8     Average:  9.1   (Sold; Closed Escrow) 
Off Market:            5     Average:  6.9 (Canceled; Expired; Temporary Off Market)

Price Reductions:      8     Average   11.0
Price Increases:         0     Average    0.6 

Contract Ratio:  33.30. The average over the last year is 28.4.

The Average Price per Square Foot of homes that are Under Contract was $263.76 per square foot. The yearly moving average is $244.12 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $235.11 per square foot.

An article in the NAR Realtor Magazine quotes AOL Finance as saying that there are a number of projects that may not give as much return to home owners as expected. These include home office remodels, master bedroom upgrades, sunrooms, and special-purpose rooms. These projects may not add value to a home when selling.

According to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey for the week ending July 7, 2017, mortgage applications decreased 7.4% from one week earlier. These results include an adjustment for the Fourth of July holiday.

The refinance share of mortgage activity decreased to 42.1% of total applications from 44.9% the previous week, and the adjustable-rate mortgage (ARM) share of activity decreased to 6.7% of total applications. The FHA share of total applications increased to 10.4% from 10.2% the week prior. The VA share of total applications increased to 11.5% from 10.3% the week prior. The USDA share of total applications decreased to 0.7% from 0.8% the week prior.

A June report from CoreLogic shows that nationally, in March 2017, 4.4% of mortgages were in some stage of delinquency (30 days or more past due including those in foreclosure). This represents a 0.8% point decline in the overall delinquency rate compared with March 2016 when it was 5.2%. The serious delinquency rate, (90 days or more past due including loans in foreclosure) was 2.1%, down from 2.7% in March 2016.

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.   

Weekly Update. July 8, 2017.

There are all kinds of acvtivities and events in Sedona. For those of you interested in wildlife, there is plenty to see. Bobcats, deer, javelina, and coyotes frequent the area throughout the year. There are also numerous birds. Red Rock State Park has regular Wildlife Viewing Tours starting early in the morning at this time of year, because of the heat.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         9    Average: 16.5   (New Listings; Back on Market)
Under Contract:   22    Average: 21.1   (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     7     Average:  9.0   (Sold; Closed Escrow)
Off Market:            6     Average:  6.9 (Canceled; Expired; Temporary Off Market)

Price Reductions:     10     Average   11.1
Price Increases:         0      Average    0.6 

Contract Ratio:  33.50. The average over the last year is 28.1.

The Average Price per Square Foot of homes that are Under Contract was $260.53 per square foot. The yearly moving average is $243.24 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $235.25 per square foot.

The Labor Department announced that Non-farm payrolls jumped by 222,000 jobs last month. The reasons suggested were substantial gains in healthcare, government, restaurants and the professional and business services sectors. It was the second biggest increase this year and beat economists' expectations of a 179,000 jobs increase. The unemployment rate held at 4.4%.

This data may keep the Fed in a tightening mode.

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.   

Weekly Update. July 1, 2017.

We have the July 4th week end upon us, and Sedona has a number of events to celebrate.

Tlaquepaqe has a Fourth of July Sizzlin' Summer Bash and Sedona City has a 4th of July Wet Fest. There are also a number of firework displays, including the one at Cliff Castle Casino.

Please celebrate this great nation responsibly and have a great time. 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:      17    Average: 16.6   (New Listings and Back on Market)
Under Contract:   18     Average: 21.0   (Active-Contingency Removal; Pending-Take Backup; and Pending) 
Closed Escrow:    13     Average:  9.1   (Sold and Closed Escrow) 
Off Market:           15     Average:  7.0  (Canceled; Expired; Temporary Off Market)

Price Reductions:     10     Average   11.0
Price Increases:         0     Average    0.6  

Contract Ratio:  30.90. The average over the last year is 27.8.

The Average Price per Square Foot of homes that are Under Contract was $255.69 per square foot. The yearly moving average is $242.50 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $235.30 per square foot.

The Commerce Department announced that gross domestic product grew at an annual rate of 1.4% in the first quarter. This was better than the previous estimate of 1.2% and twice the initial estimate of 0.7%. The improvement was as a result of strength in consumer spending and exports.

U.S. government debt prices were mostly lower on Friday as investors considered recent economic data. The yield on the benchmark 10-year Treasury note rose to around 2.296%, while the yield on the 30-year Treasury bond was close to 2.836%. Bond yields, indicators for mortgage rates, move inversely to prices.

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.   

Weekly Update. June 24, 2017.

Sedona is a wonderful part of the world. There are basically two areas, West Sedona and The Village. The Village is sometimes called the "Gateway to Sedona", as it is on SR 179, which takes you from the I-17 to West Sedona, and it is the quieter part of Sedona.

In the Village, what was called The Outlet Center has recently been acquired by a developer, who has re-named it Sedona Vista Village. He intends to add an hotel as well as consolidating the shoping and retaurant experience. Here is a link to a recent article. 

Also in the Village, The Collective is a colorful collection of stores, galleries and restaurants. Their website contains an article on things to do in Sedona.

Something else for entertainment is the Gumption Street Arts Festival, which will give us six days of free arts beginning the week end of June 24th and 25th.
 
Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:      13    Average: 16.7   (New Listings and Back on Market)
Under Contract:   24     Average: 21.1   (Active-Contingency Removal; Pending-Take Backup; and Pending) 
Closed Escrow:     8     Average:  9.1   (Sold and Closed Escrow) 
Off Market:            6     Average:  6.9  (Canceled; Expired; Temporary Off Market)

Price Reductions:      7     Average   11.1
Price Increases:         0     Average    0.6  

Contract Ratio:  33.20. The average over the last year is 27.6.

The Average Price per Square Foot of homes that are Under Contract was $251.45 per square foot. The yearly moving average is $241.98 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $234.61 per square foot.

Cleveland Fed President Loretta Mester said that "the underlying economic fundamentals are pretty good right now," and the increases in rates "are meant to keep the economy healthy, not to slow down the expansion," She believes that the Federal Reserve must continue to raise interest rates in order to avoid employment or inflation getting out of hand, which could lead to a recession.

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.   

Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:       15    Average: 16.8   (New Listings and Back on Market)

Under Contract:   33     Average: 20.9   (Active-Contingency Removal; Pending-Take Backup; and Pending) 

Closed Escrow:    13     Average:  9.1   (Sold and Closed Escrow) 

Off Market:             6     Average:  6.8  (Canceled; Expired; Temporary Off Market)

Price Reductions:     12     Average   11.2

Price Increases:         1     Average    0.6  

Contract Ratio:  32.70. The average over the last year is 27.1.

This week has been noticeable in that listings increased by 15, while the number that went under contract was 33, the number that closed escrow was 13, and 6 were taken off the market, a tightening in inventory of 37 units.

The Average Price per Square Foot of homes that are Under Contract was $245.63 per square foot. The yearly moving average is $241.21 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $233.32 per square foot.

As has been widely anticipated, the Federal Reserve raised its benchmark rate by one quarter point for the second time this year, even though inflation may be running below the central bank's target. The new range will be 1% to 1.25%. The rate currently is at 0.91%. The level effects most adjustable-rate loans, revolving debt like credit cards and home equity loans.The Fed also provided more detail on how it will unwind its $4.5 trillion balance sheet.

The Commerce Department announced that housing starts fell 5.5% in May to a seasonally adjusted annual rate of 1.09 million units. This follows a 2.7% monthly decline in April and a 7.7% fall in March, though home construction is still 3.2% higher year-to-date. Building permits, an indicator of future construction, fell 4.9% to 1.17 million. The pace of construction fell for the third straight month, perhaps a sign of an even larger shortage of houses for sale. 

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.   

Sedona Single Family Residential Homes ONLY. 

All the Averages are for 1 year.

This week's numbers are,
New Listings:       22    Average: 16.8   (New Listings and Back on Market)
Under Contract:   26     Average: 20.6   (Active-Contingency Removal; Pending-Take Backup; and Pending) 
Closed Escrow:     6     Average:  8.9   (Sold and Closed Escrow) 
Off Market:            7     Average:  6.9  (Canceled; Expired; Temporary Off Market)

Price Reductions:      7     Average   11.1
Price Increases:        1     Average    0.6  

Contract Ratio:  32.70. The average over the last year is 27.1.

The Average Price per Square Foot of homes that are Under Contract was $245.63 per square foot. The yearly moving average is $241.21 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $233.32 per square foot.

The Commerce Department announced that U.S. wholesale inventories fell 0.5% percent in April, against a rise of 0.2% in March. April sales by merchant wholesalers, excluding manufacturers' sales branches and offices, and after adjustment for seasonal variations, were $462.3 billion, down 0.4% for the latest period. Total inventories by merchant wholesalers were $591 billion at the end of the month. The April inventories/sales ratio was 1.28, compared to 1.35 a year ago. For the first quarter, inventory investment has been marginally weak.

America's small-business owners are highly confident about their prospects for the next year and optimistic about the state of the U.S. economy, according to the first-ever CNBC/SurveyMonkey Small Business Survey. Respondents were asked for their opinions on a variety of subjects about the future of their business and the state of the economy and U.S. politics. SurveyMonkey also calculated a small-business confidence index from the responses to eight key questions and concluded that small-business owners are "undeniably confident" in their prospects for the next year.

The Labor Department announced that initial claims for state unemployment benefits declined 10,000 to a seasonally adjusted 245,000 for the week ended June 3. Claims had increased by 20,000 in the prior week, with California, Tennessee, Kansas, and Missouri accounting for the bulk of the increase. Some of that increase was related to school summer breaks.
 
U.S. government debt prices slipped on Friday, as the market processed the news of the UK general election. The fall in prices produces a rise in yields. Towards the close, the yield on the benchmark 10-year Treasury note rose to about 2.197% , while the yield on the 30-year Treasury bond rose to about 2.853%. 

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.
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 BloomTree Realty.   

Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,
New Listings:       24    Average: 16.7   (New Listings and Back on Market)
Under Contract:   30     Average: 20.3   (Active-Contingency Removal; Pending-Take Backup; and Pending) 
Closed Escrow:    19     Average:  8.9   (Sold and Closed Escrow) 
Off Market:            8     Average:  6.9  (Canceled; Expired; Temporary Off Market)

Price Reductions:     12     Average   11.1
Price Increases:        0     Average    0.6 
 
Contract Ratio:  30.80. The average over the last year is 26.8.

The Average Price per Square Foot of homes that are Under Contract was $248.06 per square foot. The yearly moving average is $240.85 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $234.07 per square foot.

The Labor Department announced that 138,000 new jobs were created in May, and the unemployment rate declined to 4.3%. Average hourly earnings rose at a 2.5% annualized rate. The average work week was unchanged at 34.4 hours.

Two large investment groups, Blackstone, the world's biggest private equity group, and the hedge fund Paulson & Co employed the investment bank Moelis to develop proposals to reorganize Fannie Mae and Freddie Mac, who are responsible for underwriting the majority of US home loans, especially the 30-year fixed rate mortgages.

The Institute for Supply Management announced that the U.S. manufacturing index rose slightly to 54.9 in May. Manufacturers continue to make gains in times of economic growth both domestically and abroad. The overall manufacturing economy has grown for 96 consecutive months.

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.  
 

Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,
New Listings:       20    Average: 16.4   (New Listings and Back on Market)
Under Contract:   27     Average: 20.1   (Active-Contingency Removal; Pending-Take Backup; and Pending) 
Closed Escrow:     8     Average:  8.8   (Sold and Closed Escrow) 
Off Market:            1     Average:  7.1  (Canceled; Expired; Temporary Off Market)

Price Reductions:     15     Average   11.1
Price Increases:        2     Average    0.6 
 
Contract Ratio:  35.10. The average over the last year is 26.7. As market activity has increased, the Average Contract Ratio has steadily risen from 21.5 the week of November 12, 2016 to its current 26.7.

The Average Price per Square Foot of homes that are Under Contract was $239.64 per square foot. The yearly moving average is $240.59 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $234.33 per square foot.

The University of Michigan's Consumer Sentiment Index hit 97.1 for its final reading in May. This was lower than market expectations, and followed the 98 level for the Index in April. Consumer sentiment seems to have plateaued at this higher level following last November's election.

The Commerce Department said, in its second estimate, that U.S. economic growth slowed less sharply in the first quarter than initially thought. Market commentators consider this weakness is an aberration, as the labor market is strong and close to full employment. Gross domestic product increased at a 1.2% annual rate instead of the 0.7% reported last month. This was the weakest performance since the first quarter of 2016.The economy expanded by a 2.1% annual rate in the fourth quarter of 2016. 

Email me if any particular subject interests you. I would love to help you achieve your real estate dreams in beautiful Sedona.

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 BloomTree Realty.