Real Estate Information

Weekly Update. October 20, 2018.

Join Nicole Seidlitz from the International Feng Shui School for the Feng Shui Master Certification Training, in magical Sedona, AZ. This Certification Training will be held 6 consecutive days from October 18 - October 23, 2018. During this time you will learn how to become a professional Feng Shui consultant. The training includes the Feng Shui manual, compass, 4 laminated charts and on completion becoming a certified Feng Shui Consultant at a Gold Level standard. Time: From: 10:00 AM to 6:00 PM. Sedona Creative Life Center, 333 Schnebly Hill Road, Sedona.

The Rotary Club of Sedona Red Rocks is hosting the 6th annual Red Rocks Oktoberfest on October 20, 2018 from 4-9pm at Posse Grounds Park. This traditional German celebration of the harvest season features a handful of local brewers showcasing the best Arizona beers. Tickets to attend will cost $15 per person ($10 in advance online) and all proceeds will support the club's mission of supporting local children’s charities. Visit www.Redrocksoktoberfest.com for additional info. Admission: $15 at the gate - $10 in advance online. Time: From: 4:00 PM to 9:00 PM. Posse Grounds Park, 500 Posse Grounds Rd, Sedona.

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: 18.3  (New Listings; Back on Market)
Under Contract:     11    Average: 23.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average: 10.0  (Sold; Closed Escrow) 
Off Market:               9     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:       10     Average   7.9
Price Increases:            1     Average   0.9 

Contract Ratio:  27.00. The average over the last year is 38.50. 

The Average Price per Square Foot of homes that are Under Contract was $383.94 per square foot. The yearly moving average is $296.89 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $256.80 per square foot.

The Conference Board's Leading Economic Index, an index made up of leading economic indicators for the U.S., increased by 0.5% last month, in line with market expectations. The index includes building permits, the ISM index of new orders, and stock prices. This was the 12th straight increase in the index.

The Stock Market recovered somewhat on Friday. The Dow Jones Industrial Average rose following good earnings numbers from Procter & Gamble as the market attepmted to stabilise after the previous sharp declines. The 30-stock index climbed 64.89 points to 25,444.34. This was its first weekly gain in the last four weeks.

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. October 13, 2018.

Sedona Fire District Open House. Today, Saturday, October 13 2018. Come out and meet your neighborhood firefighter and learn about their day to day duties! We will have a variety of fun and informative activities for kids and adults. Pancakes & drinks, fun demonstrations, station tours and hands on displays. Admission: Free. Time: From: 9:00 AM to 11:00 AM. Sedona Fire Station #1, 2860 Southwest Drive Sedona.

2018 Animal Adoption Day. Come join the Verde Valley Humane Society for 2018 Animal Adoption Day at Blazin' M Ranch, where you've got a new BFF just waiting for you! Sponsored by Yavapai Title, Coldwell Banker, Thunder & Lightnin' and Hauser & Hauser. Admission: Free. Time: From: 10:00 AM to 1:00 PM. Blazin' M Ranch, 1875 Mabery Ranch Rd, Cottonwood.

Roots Roll and Ride Music Festival and Poker Run. Steps to Recovery Homes is holding its 3rd annual Northern Arizona Music Festival "Roots, Roll, and Ride" benefit at The Collective Sedona on Saturday, October 13th, 2018. This event will start with a motorcycle run in the morning and follow with five or six bands playing. There will be exhibit booths and food available throughout the day. Admission: Free. Time: From: 11:00 AM to 5:00 PM. The Collective, 7000 State Route 179 Sedona.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         23    Average: 18.4  (New Listings; Back on Market)
Under Contract:     24    Average: 23.5  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average: 10.0  (Sold; Closed Escrow) 
Off Market:               7     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:       19     Average   7.9
Price Increases:            1     Average   0.9 

Contract Ratio:  30.10. The average over the last year is 38.60. 

The Average Price per Square Foot of homes that are Under Contract was $373.85 per square foot. The yearly moving average is $294.43 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $256.78 per square foot.

The Stock Market recovered some of its loss in volatile trading on Friday. The Dow and S&P 500 finished the week down by more than 4%. Market commentators suggested that the reasons for the set back were due to investor concerns about further interest rate increasess leading to a possible economic slowdown, and an over valued technology sector. This week's losses were the worst weekly decline since March.

Market commentators suggested that the sell off was simply a market correction. They believe that the U.S. economy is still healthy and we would need indications of a recession to precede a bear market. National Economic Council Director Larry Kudlow noted that the U.S. economy is outperforming the rest of the world. He commented that Europe is slowing down, and Asia is slowing down, but the U.S. continues to improve. He went on to say that the U.S. economy expanded by 3.2% in the first half of the year and the Atlanta Federal Reserve is expecting growth of 4% in the third quarter.

Yields on U.S. government debt yields rose on Friday as the equity market recovered. The yield on the benchmark 10-year Treasury note was around 3.17%, and the yield on the 30-year Treasury bond was around 3.34%.

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. October 6, 2018.

Exposures International Gallery of Fine Art presents 11 master artists and their complete collections coming together to celebrate the gallery’s 22nd anniversary. Beginning today, Saturday, October 6 2018. Admission: Free. Time: Fri 4:00 to 8:00 PM (RSVP only), Sat 3:00 PM to 7:00 PM, and on Sundays 11:00 AM to 2:00 PM. 561 State Route 179 Sedona.

Raptors at the Rails. Verde Canyon Railroad's friends from Liberty Wildlife share the majesty of a rescued bald eagle with visitors to the depot on select Saturdays throughout the year. Join us for a visit with a beautiful Arizona Bald Eagle from Liberty Wildlife's educational program. Time: From: 12:30 PM to 5:00 PM. 300 N Broadway Clarkdale.

Shenanigans & Skullduggery Cowboy Poetry Show. Enjoy Sedona author, cowboy poet and actor Michael Peach in a performance of his original show at 1:30 PM. Peach blends original cowboy poetry with tall tales, jokes and first person narrative as he exposes and pokes fun at quirky incidents from Arizona politics and law. This is a tongue-in-cheek look at Arizona and local history. Admission: $6 for adults, children 12 and under free. Time: From: 1:30 PM to 2:30 PM. 735 Jordan Rd Sedona. 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         20    Average: 18.2  (New Listings; Back on Market)
Under Contract:     21    Average: 23.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     10    Average:   9.9  (Sold; Closed Escrow) 
Off Market:               7     Average:  5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        7     Average   7.8
Price Increases:           1     Average    0.9 

Contract Ratio:  29.90. The average over the last year is 38.70. The Contract ratio has pulled back in line with the normal lull in the market at the start of "Monsoon Season".

The Average Price per Square Foot of homes that are Under Contract was $362.22 per square foot. The yearly moving average is $292.22 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $256.80 per square foot.

The Labor Department announced that Nonfarm Payrolls rose 134,000. This was 51,000 below market expectations, but off-set by an increase of 87,000 in the numbers for July and August.

The unemployment rate fell to 3.7%, a number last seen in December 1969, nearly 50 years ago. A separate measure of unemployment, U-6, which includes people marginally attached to the work force, rose to 7.5% from 7.4% percent. The numbers from September 2016 are 5.0% and 9.7%, respectively. 

Unemployment among black Americans stood at 6%, marginally above thes record low of 5.9% in May. Average hourly earnings increased by 2.8% year-on-year. The average work week was unchanged at 34.5 hours.

After the job and wages numbers, the benchmark 10-year Treasury yield rose to its highest level since 2011, standing at 3.23%. The yield on the 30-year Treasury bond was at 3.40%, its highest level since 2014.

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. September 29, 2018.

Rockin’ Wine. Enjoy lively acoustic renditions of your classic rock favorites done by local musicians! Sip and Sing with 100% AZ wine selections! Friday through Sunday. ASCAP, BMI. Admission: Free. Time 4:00 PM to 7:00 PM. Winery 1912. 320 N. Hwy 89A, Suite 3, Upstairs in Sinagua Plaza Sedona.

Verde Valley School Farm to Table Feast. Saturday, September 29 2018. Since the Fall of 2015, the VVS Farm to Table Feast has brought local food, local chefs and local community together around the dining table in celebration of all that is deliciously and nutritiously seasonal from farmers and producers in the Verde Valley area, including our very own “beyond organic” VVS Farm! Admission: $125. Time: From: 3:00 PM to 7:00 PM. 3511 Verde Valley School Road Sedona.

Humane Society of Sedona’s Pet Lovers Gala, tonight Saturday, September 29 2018. The Humane Society of Sedona will host a “Monte Carlo Night” theme at our signature fundraising event, "Pet Lover’s Gala", being held at the beautiful Enchantment Resort. The Monte Carlo Night will feature gambling, music, dancing, a gourmet dinner, silent auction, 50/50 raffle, wine pull, and other entertaining activities. Sponsorships still available. Admission: $95. Time 6:00 PM to 9:00 PM. 525 Boynton Canyon Rd Sedona. 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: 18.2  (New Listings; Back on Market)
Under Contract:     20    Average: 23.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      13     Average:  9.8  (Sold; Closed Escrow) 
Off Market:               2     Average:  5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:       12     Average   8.0
Price Increases:           0     Average    0.9 

Contract Ratio:  31.30. The average over the last year is 38.70. 

The Average Price per Square Foot of homes that are Under Contract was $366.19 per square foot. The yearly moving average is $290.25 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $255.19 per square foot.

As widely expected, the Federal Open Market Committee raised the federal funds rate 25 basis points, with a range between 2% and 2.25%. This was last seen more than 10 years ago. The Federal Reserve said that its policy remains unchanged, and the federal funds rate should be at 2.4% by the end of 2018. They also left their 2019 projection unchanged at 3.1%. This suggets they expect another three increases in 2019.

The Commerce Department announced that the personal consumption expenditures price index (PCE), which excludes volatile food and energy prices, was unchanged after rising 0.2% in July. The August numbers put the year-over-year increase in the core PCE index at 2%. The core PCE index is one of the Fed's leading indicators, and it reached their 2% target in March for the first time since April 2012.

After the PCE numbers, U.S. government debt yields fell Friday. The yield on the benchmark 10-year Treasury note was lower at around 3.06%, and the yield on the 30-year Treasury bond remained steady at 3.21%.

The University of Michigan's monthly survey of consumers rose to 100.1 in September, marginally below market expectations of 100.8. Sentiment among consumers rose from August's final reading of 96.2.

The Commerce Department reported that the U.S. economy grew in the second quarter, as expected. Gross Domestic Product rose at its fastest rate in four years, with an increase of 4.2%, which was in line with market expectations. This was the fastest pace since the third quarter of 2014, and expectations for the year show growth better than 3%, a target goal for the current administration.

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. September 22, 2018.

This week end, The Sedona Art Shows offers true artists and craftsmen a Unique "Boutique" Art show representing Great American Artists and Craftsmen that showcasing their work. The show supports local Artists & Craftsmen and excludes the usual buy and sell, and commercial booths, so that the community and visitors can find unique and custom treasures. Admission: FreeTime: From: 9:00 AM to 5:00 PM. Relics Restaurant. 3235 W Hwy 89A Sedona.

The First Annual "Jazz It Up Sedona" Music Festival begins Friday September 21st with 3 nights of unforgettable Jazz Artists appearing on stage at the incredible SoundBites Grill "Celebrity Showroom" in beautiful Uptown Sedona. Friday, Sept. 21st - Louis Landon Saturday, Sept. 22nd - Will Donato Sunday, Sept. 23rd - JJ Sansaverino. Time: From: 7:00 PM to 10:00 PM. 101 N State Route 89A Sedona.

Rhythm at the Ranch: A Tribute to The Eagles. Tonight, Saturday, September 22nd, join the finest Eagles tribute band — The Long Run — for a special tribute to the music of one of the most beloved classic bands ever to grace the stage. The Long Run will bring their tribute to the music of The Eagles to the “Rhythm at the Ranch” event on, presented by the Sedona International Film Festival. This special fundraising event will include an outdoor concert on the lawn. Admission: $55. Time: 5:00 PM. Indian Creek Ranch, 1385 Loy Road Cornville. 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         21    Average: 18.3  (New Listings; Back on Market)
Under Contract:     29    Average: 23.5  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     14     Average:  9.8  (Sold; Closed Escrow) 
Off Market:               5     Average:  5.7  (Canceled; Expired; Temporary Off Market)

Price Reductions:      12     Average   8.0
Price Increases:           0     Average    1.0 

Contract Ratio:  37.70. The average over the last year is 38.60. 

The Average Price per Square Foot of homes that are Under Contract was $350.50 per square foot. The yearly moving average is $288.24 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $254.95 per square foot.

The Federal Reserve will be meeting next week. Markets are anticipating a quarter-point increase in the Fed's benchmark funds rate, and a rise in the target spead to 2% to 2.25%, last seen more than 10 years ago.

As a result, U.S. government debt yields were stable on Friday having risen earlier in the week. The yield on the benchmark 10-year Treasury note at 3.07%, with the yield on the 30-year Treasury bond at 3.20%. The yield on the 10-year note has risen approximately 8 basis points during the week

With U.S. Treasury yields increasing, mortgage rates appear to be following suit. The Mortgage Bankers Association, in its seasonally adjusted report, said that total mortgage application volume increased 1.6% last week compared to the previous week. Refinance volume increased 4% on the week. To put this into perspective the numbers were 39% lower than the same week a year ago, and rates were nearly a full percentage point lower.

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. September 15, 2018.

CPR Heart Saver and First Aid Class for the adult, child, and infant, as well as the use of the automated external defibrillator (AED) and relief of a foreign body airway obstruction (FBAO). It is designed for any individual wishing to obtain CPR certification who does not work in the medical or clinical setting. A certification card is issued for all participants who successfully complete the course and demonstrate competency in practical skills. Today. Admission: $50. Time: From: 8:30 AM to 12:00 PM at Fire Station #1, 2860 Southwest Drive Sedona.

Rise and Shine. Start your day with the rising sun on the most powerful vortex on the planet – a gift of self love for your body, mind and spirit. There are powerful earth energies that will naturally harmonize & clear your chakras, recalibrate your system and countless health benefits of yoga with feet on the earth. Keep yourself in tune with Mother Nature’s heart beat with this empowering, super-charging morning flow with the most spectacular view of Sedona all around you -juniper trees, red rocks and mesas. Admission: $55. Time: From: 6:30 AM to 8:00 AM. Twice Nice, 1225 W State Route 89A Sedona.

The Sedona International Film Festival is presenting the acclaimed new film “The Bookshop” — starring Emily Mortimer, Patricia Clarkson and Bill Nighy — September 14th through 19th at the Mary D. Fisher Theatre. Admission: $12 general admission; $9 for film festival members. Time: 4.00 PM and 7.00 PM. 2030 W State Route 89A Ste A3 Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         24    Average: 18.3  (New Listings; Back on Market)
Under Contract:     19    Average: 23.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      11     Average:  9.6  (Sold; Closed Escrow) 
Off Market:               8     Average:  5.7  (Canceled; Expired; Temporary Off Market)

Price Reductions:        9     Average   8.0
Price Increases:           2     Average    1.0 

Contract Ratio:  38.40. The average over the last year is 38.30. 

The Average Price per Square Foot of homes that are Under Contract was $349.06 per square foot. The yearly moving average is $286.38 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $254.43 per square foot.

Steady economic growth across the country has translated into higher stock markets and increased corporate profits. There are always places to find an unevenness of improvement in any economic recovery. The housing market typifies this, as some areas have seen relatively larger price increases than others. This leads to housing becoming unaffordable in some areas. New construction will always concentrate at the high end of the spectrum to begin with, which may reudce the opportunities for first-time buyers.

As is ever the case, people respond to the changes in many ways, and according to their own economic situation. They buy or they rent. They may re-model rather than move. The underlying driver is the economy and jobs, and States that attract more jobs will probably see more home price increases. 

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. September 8, 2018.

Saturday, September 8 2018 is the Second Saturday Fusion at The Collective Sedona in the Village of Oakcreek. The event takes place from 1pm to 7pm every Second Saturday of the month. Visitors can Meet the Artists, shop with local merchants, enjoy food and wine tastings, free refreshments and live music along with children’s activities. Admission: Free. Time: From: 1:00 PM to 7:00 PM. Between 1:00 PM and 5:00 PM, you are also invited to Show Off your car, truck, motorcycle, rat rod or any other vehicle you like. The Collective Sedona, 7000 State Route 179 Sedona.

Faces and Places the Art of Karen Taylor and Victoria R Rivers. Saturday, September 8 2018. This special exhibition includes both wearable and wall art created to celebrate the diversity and beauty of cultures from around the globe. Admission: FreeTime: From: 10:00 AM to 5:00 AM. Sedona Arts Center, 15 Art Barn Rd Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         19    Average: 18.3  (New Listings; Back on Market)
Under Contract:     19    Average: 23.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       5     Average:  9.6  (Sold; Closed Escrow) 
Off Market:               4     Average:  5.7  (Canceled; Expired; Temporary Off Market)

Price Reductions:        5     Average   8.0
Price Increases:           0     Average    1.0 

Contract Ratio:  38.80. The average over the last year is 38.10. 

The Average Price per Square Foot of homes that are Under Contract was $333.60 per square foot. The yearly moving average is $284.57 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $254.61 per square foot.

The Bureau of Labor Statistics reported that the unemployment rate held near its low of 3.9%, while wages had their biggest increase of the current economic recovery. The growth in wages was the highest since April 2009. In August, average hourly earnings rose 2.9% for the month on an annualized basis, higher than market expectations. 

Nonfarm payrolls grew by 201,000, again higher than market expectations. The sectors with the largest employment gains were business services, health and education. The retail employment sector fell as clothing and accessory stores reduced the number of employees.

The U.S. manufacturing continues to do well, having added 350,000 jobs since the current administration took office in January 2017. However, while the stronger economy is helping the manufacturing industry, it is also creating a tighter labor market. Exacerbated by baby boomer retirements, companies find themselves short of workers 

The Manufacturing Institute projects that by the year 2025, some 2 million jobs within the industry will go unfilled. The National Association of Manufacturers said about 500,000 manufacturing jobs are open. The experts suggest that the problem is a severe skills gap.

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. September 1, 2018.

The Sedona International Film Festival has two showings of note. There is a new documentary “Sinatra in Palm Springs: The Place He Called Home” and Gus Van Sant’s critically-acclaimed new film “Don’t Worry, He Won’t Get Far on Foot”. Time: 4:00 PM and 7:00 PM. August 31st to September 5th and 6th, at the Mary D. Fisher. Theatre Admission: $12 general admission; $9 for film festival members.

The Red Rocks Music Festival, from September 8th to September 28th, at the Sedona Creative Life Center, features the world-renowned violinist Shlomo Mintz in a Gala Solo recital with Pianist Sandra Shapiro " In My Father's Footsteps- a daughter's search for answers". "From the Romantic to Jazz" and "Dialogue through Music" will be performed by David Ehrlich, Anna Kazepides, violins, Rami Solomonow, viola, Jan Simiz, cello, Michael Kazepides, Double-Bass, Teresa Ehrlich, piano and Nikola Djurica, clarinet.

Looking forward, we have the Sedona Winefest, September 22nd and 23rd. The Sedona Arts Festival, October 13th and 14th. The Sedona Plein Air Festival October 13th through 20th, and the Red Rocks Oktoberfest on October 20th.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         25    Average: 18.4  (New Listings; Back on Market)
Under Contract:     25    Average: 23.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     16     Average:  9.6  (Sold; Closed Escrow) 
Off Market:               8     Average:  5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        5     Average   8.1
Price Increases:           4     Average    1.0 

Contract Ratio:  38.20. The average over the last year is 37.70. 

The Average Price per Square Foot of homes that are Under Contract was $325.45 per square foot. The yearly moving average is $283.07 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $253.92 per square foot.

The University of Michigan's monthly survey of consumers rose to 96.2 in the final reading of August. Market commentators were expecting a fall. The Index fell to 97.9 in July, from 98.2 in June, as a result of concerns over a trade war and the impact of tariffs on the domestic economy.

With higher home prices and a lack of inventory disuading homebuyers, total mortgage application volume decreased 1.7% last week, and was 15% lower than a year ago, according to the Mortgage Bankers Association's seasonally adjusted report. The average contract interest rate for a 30-year fixed-rate mortgage, with conforming loan balances ($453,100 or less), decreased to 4.78% from 4.81%, its lowest rate since the week ending July 20th.

U.S. government debt yields were lower on Friday. The yield on the benchmark 10-year Treasury note was at around 2.84%, and the yield on the 30-year Treasury bond was at 2.99%. 

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. August 25, 2018.

Over the next ten days, you can visit a permanent exhibition of The Native Peoples of the Colorado Plateau. It displays the story of ten tribes of the Colorado Plateau: Zuni, Acoma, Southern Ute, Southern Paiute, Hopi, Havasupai, Hualapai, Yavapai and Dilzhe'e Apache, and Diné (Navajo). Through over 350 objects selected by 42 tribal consultants, this exhibition reflects tribal histories, values, and cultures. Time: From: 10:00 AM to 5:00 PM. 3101 N Fort Valley Rd Flagstaff.

There is a Full Moon Hike at Red Rock State Park. Led by a naturalist, it gives hikers the rare opportunity to enjoy the sunset and moonrise from an overlook and return by the light of the moon, while also having the chance to learn about Sedona and its surrounding areas. Hike lasts 2 to 2 ½ hours. Registration ends August 24th. Please call 928-282-6907 to reserve your spot on the hike. Admission: $5 program fee plus regular park admission fee. Time: From: 5:45 PM to 8:00 PM. 4050 Red Rock Loop Rd Sedona.

Looking to future events, we have the Red Rocks Music Festival, September 8th- September 28th, 2018 at the Sedona Creative Life Center, and The 10th annual Sedona Winefest, September 22-23, 2018 from 11:00 am - 5:00 pm. at the Posse Grounds Park in the heart of Sedona.  

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: 18.4  (New Listings; Back on Market)
Under Contract:     17    Average: 23.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average:  9.5  (Sold; Closed Escrow) 
Off Market:               3     Average:  5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        8     Average   8.3
Price Increases:           0     Average    0.9 

Contract Ratio:  43.10. The average over the last year is 37.50. 

The Average Price per Square Foot of homes that are Under Contract was $317.18 per square foot. The yearly moving average is $281.65 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $253.84 per square foot.

Federal Reserve Chair Jerome Powell said that "further, gradual" rates hikes are appropriate as the economy continues to show signs of strength. The chairman said he anticipates a slow and steady pace of rate hikes as the central bank looks to balance economic growth and curbing frothy asset prices.

Contrarily, St. Louis Federal Reserve President James Bullard does not want the central bank to raise rates again this year. "If it was just me, I'd stand pat where we are and I'd try to react to data as it comes in," he said Friday in an interview with CNBC's Steve Liesman. "I just don't see much inflation pressure. ... I'm an inflation hawk, but I just don't see that developing. ... I just don't think this is a situation where we have to be pre-emptive." 

Following these remarks, U.S. government debt yields were little changed on Friday. The yield on the benchmark 10-year Treasury note was higher at around 2.82%, and the yield on the 30-year Treasury bond was lower at around 2.97%.

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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. August 18, 2018.

El Rincon Restaurante Mexicano continues to present master guitarists Gaetano and friends with spirited performances inspired from Spain and Mexico in the courtyard in front of the restaurant. Enjoy tapas and your favorite beverage from the outside bar. Sunday through Tuesday evenings from 5:30 PM to 7:30 PM. Admision free. In Tlaquepaque, 336 Route 179, Sedona.

There's an international Blues-Rock-Country event at Blazin’ M Ranch as the French Voila Tour comes to Blazin’ M. Enjoy music, food and arts. Tickets are Adults $39.95 +tax Seniors (65+) $34.95 +tax Children (5-12) $19.95 +tax and Children 4 & under-Free (please provide count). They are available at www.blazinm.com. August 24, 2018 from 5:00 PM to 9:00 PM. Blazin’ M Ranch, 1875 Mabery Ranch Rd, Cottonwood.

On Saturday and Wednesday mornings, bird enthusiasts can join a naturalist for a guided walk appropriate for beginner and advanced birders. The walks begin at 8.00 AM. Please arrive a little early to join the leader on the viewing deck above the visitor center. Please bring your own binoculars. There is no charge for the guided bird walk, but park entrance fees do apply. Red Rock State Park, 4050 Red Rock Loop Road, Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         14    Average: 18.5  (New Listings; Back on Market)
Under Contract:     22    Average: 23.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average:  9.5  (Sold; Closed Escrow) 
Off Market:               5     Average:  5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        5     Average   8.2
Price Increases:           1     Average    1.0 

Contract Ratio:  43.80. The average over the last year is 37.10. 

The Average Price per Square Foot of homes that are Under Contract was $320.69 per square foot. The yearly moving average is $280.51 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $254.62 per square foot.

The strong second-quarter GDP growth of 4.1% is now showing up in the real economy. A single company which is a good indicator of general economic health is Walmart, the country's largest retailer. Lat week, Walmart posted their best financial results in many years, a further indication of the broad-based strength of the domestic economy.

The National Association of Home Builders announced that its monthly index of builder sentiment fell 1 point to 67 in August, the lowest level for 11 months and after having reached a high of 74 last December. However, sentiment was unchanged from one year ago, and anything above 50 is considered positive sentiment. Builders continue to report strong demand for new housing, fueled by steady job and income growth along with rising household formations.

News that U.S. and Chinese representatives were working to develop a plan to end the ongoing trade dispute between the two nations led a slight fall in U.S. government debt yields on Friday. The yield on the benchmark 10-year Treasury note was lower at around 2.86%, and the yield on the 30-year Treasury bond was at around 3.02%.

If you know of anyone who needs assistance with their real estate goals, please ask them to call or email me. I would be delighted to help them.

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.