Real Estate Information

Weekly Update. July 13th, 2019.

The Sedona International Film Festival has a couple of award-winning and acclaimed new films centered on the music industry. “The Quiet One” is about one of the world’s greatest rock bands through the yes of Bill Wyman, the bassist for The Rolling Stones, and known as the “quiet one”. Bill Wyman speaks out about life with the Stones through a tour of his personal archive. Next there is “Echo in the Canyon”, which celebrates the explosion of popular music that came out of LA’s Laurel Canyon in the mid-60s as folk went electric and The Byrds, The Beach Boys, Buffalo Springfield and The Mamas and the Papas gave birth to the California Sound. Admission: $12 general admission; $9 for film festival members. Time: 4 p.m. and 7 p.m. (check website). Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. For more information, call Patrick Schweiss, 928-282-1177.

Sedona Mountain Bike Academy is hosting Women's Group Mountain Bike Rides. These will be free, fun-focused, no-drop rides, that prioritize getting to know the trails and meeting other riders. Please come prepared with a working bike and gear. Time: From: 4:00 PM to 6:00 PM. Bell Rock Trailhead. For more information call Amaryth Gass, 1-888-288-0603, or please email info@sedonamtbacademy.com for questions or on how to rent a bike.

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: 17.7  (New Listings; Back on Market)
Under Contract:     24    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               8     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:         8     Average  10.2
Price Increases:            1     Average    0.8 

Contract Ratio:  40.20. The average over the last year is 34.10. 

The Average Price per Square Foot of homes that are Under Contract was $290.41 per square foot. The yearly moving average is $322.61 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $275.69 per square foot. 

Stock markets closed at all-time highs on Friday as it appeared, from testimony given by a top Federal Reserve official, that a cut in rates was imminent. The Dow Jones Industrial Average closed at 27,332.03; the S&P 500 at 3,013.77, and The Nasdaq Composite at 8,244.14.

The Bureau of Labor Statistics announced that the U.S. consumer price index rose 0.1% in June (seasonally adjusted), and 1.6% over the year (not seasonally adjusted). Core CPI (the index less food and energy) rose 0.3% in June after 0.2% in May. The year-on-year increase was 2.1%. 

The CPI numbers were somewhat of a surprise to the Bond Markets, and yields on US Treasuries rose, with the 2-year at around 1.85%; the 5-year at around 1.87%; the 10-year at around 2.12% and the 30-year at around 2.65%.

In response to questions from the Senate Banking Committee, Federal Reserve Chairman Jerome Powell suggested that the nation has fallen into a severe housing shortage, and homebuilders are struggling to increase production due to high costs for labor and materials. The labor situation is exacerbated by the fact that thousands of skilled workers left the construction industry, following the housing crash that began in 2008, and never returned.

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 6th, 2019.

Big Gay Art Show. This show is hosted by the Sedona Arts Center in support of the LGBTQ+ community! This event is free, fun, and open to everyone! The show reception will be held on First Friday, July 5th, from 5-8pm. Hors d'Oeuvers will be served. Come show your support! Admission: Free. Time: Friday to Sunday From: 10:00 AM to 5:00 PM. 15 Art Barn Road, Sedona. For more information, call Valerie Pulido, 928-282-3809.

The Hopi Festival is recognized as a cultural treasure in the state, and a not-to-miss summer tradition. The two-day celebration of Hopi culture starts with a ceremonial welcome and flag raising, followed by dance and music performances, artist demonstrations, workshops and puppet shows. This year's performers include Ongtupqua performing on the Hopi long flute and a Hopi hoop dancer. Meet hundreds of carvers, weavers, potters, painters and jewelers demonstrating, and selling their art. Admission: Free. Time: From: 9:00 AM to 5:00 PM. Museum Of Northern Arizona, 3101 N Fort Valley Rd. Flagstaff. For more information, call 928-774-5213.

Poco Diablo Resort presents a Night Golf Tournament! Saturday, July 6th at 8pm, scramble format, four players per team, $20 per person. Call to reserve your space or sign up at the Poco Diablo Resort Front Desk . Admission: $20.00 per person. Time: From: 8:00 PM to 10:00 PM. Poco Diablo Resort, 1752 State Route 179 Sedona. For more information, call Packy Baker, 928-202-7676.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         12    Average: 17.7  (New Listings; Back on Market)
Under Contract:     27    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     13     Average: 9.3  (Sold; Closed Escrow) 
Off Market:               8     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:         6     Average  10.2
Price Increases:            2     Average    0.8 

Contract Ratio:  40.30. The average over the last year is 34.30. 

The Average Price per Square Foot of homes that are Under Contract was $290.57 per square foot. The yearly moving average is $321.59 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $275.37 per square foot. 

Please look at just the yearly averages, above, New Listings, Under Contract, Closed, and Off Market. While some homes come off market, and some then either go back on or are re-listed, and some homes go under contract, but may fall out of escrow, the general trend is obvious, and underlies the shortage of inventory and rising values.

The Labor Department announced that nonfarm payrolls increased by 224,000 jobs in June. This is the best number since January and seems to allay the fears the concerns that the economy was beginning to weaken. An increase in the labor force participation caused the unemployment rate to increase to 3.7%. Average hourly earnings rose 0.2%, slightly below market expectations, but, over the last year, wages have risen 3.1%.

The stronger jobs performance cast doubt on the idea that Federal Reserve would move to reduce rates in the near term in order to avoid a widely expected economic slow down this year. This news caused the Stock market to marginally pull back from its recent record highs. At the ned of the week, the Dow Jones Industrial Average closed at 26,922.12; the S&P 500 at 2990.41, and the Nasdaq at 8,161.79.

US Treasury Yields rose sharply. The 2-year closed at 1.87%; the 5-year at 1.84%; the 10-year at 2.04%, and the 30-year at 2.54%. Before the nonfarm payrolls numbers, Freddie Mac said that the 30-year fixed-rate mortgage averaged 3.75% with an average 0.6 points. This was marginally higher than the previous week's number of an average 3.73%. At this time a year ago, the rate was 4.52%.

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 29nd, 2019.

Looking forward, there is the 4th of July Wet Fest. Enjoy lunch and music, a swimming pool and water slide fun all surrounded by the spectacular red rocks. This event is free of charge. The pool opens at 12:00 PM for free recreation swim. Just outside the pool gate will be vendors and fun water games to help you beat the heat. Parking will be available in the West Sedona School parking lots. Admission: Free (food not included). Time: From: 12:00 PM to 4:00 PM. Sedona Community Pool, 570 Posse Ground Road, Sedona. 

Sedona Mago Retreat Open House Every Saturday from 8:00 am – 3:00 pm Renew your spirit & Feel the Heart of Mago. Our weekly open house visits include a self-guided tour of Mago’s campus, including sacred vortex sites, Mago Lake & over 170 acres of nature and hiking trails. Plus, learn more about Mago Retreat opportunities & programs! Please note: Mago Retreat Center is located at the end of an 11-mile Forest Service road. Allow for a 30-minute drive from the road entrance to arrive at the gate. Admission: Free. Time: From: 8:00 AM to 3:00 PM. 3500 E Bill Gray Rd Sedona. To RSVP, Call our Welcome Center, 928-204-3391.

The Sedona International Film Festival is presenting two new films. June 28-July 3 “All Is True” which stars Kenneth Branagh (who also directed the film), Judi Dench, and Ian McKellen. In 1613, William Shakespeare retired. He still had one last story to tell — his own. “All Is True” is a portrait of William Shakespeare during the last three years of his life. Also showing is Ron Howard’s acclaimed new film “Pavarotti”, also June 28-July 3. The award-winning filmmaking team behind the hit documentary “The Beatles: Eight Days a Week: The Touring Years” turns to another musical phenomenon with “Pavarotti,” an in-depth, no-holds barred look at the life, career and lasting legacy of the musical icon. 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, 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:         13    Average: 17.9  (New Listings; Back on Market)
Under Contract:     23    Average: 21.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     15     Average: 9.2  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:         7     Average  10.2
Price Increases:            1     Average    0.8 

Contract Ratio:  37.40. The average over the last year is 34.30. 

The Average Price per Square Foot of homes that are Under Contract was $302.93 per square foot. The yearly moving average is $322.44 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $274.33 per square foot.

Following a side meeting at the G-20 Summit, Chinese President Xi Jinping and U.S. President Donald Trump negotiated an agreement to proceed with trade talks after escalating tariffs between the two nations threatened to disrupt the world economy. This will be a continuation of the recent attempts to overhaul the U.S. trade relationship with China.

Market reaction to this saw The Dow Jones Industrial Average rise to close at 26,599.96. This month, the Index has risen more than 7%. The S&P 500 rose to close at 2,941.74, a 6.9% gain in the month. The index has risen more than 17% this year, the largest first-half gain since 1997. The Nasdaq Composite closed at 8,006.24, a rise of 7.4% this month.

The US Treasury markets were little changed. The yield on the 2-Year was around 1.76%; the 5-Year 1.77%; the 10-Year 2.01%, and the 30-Year 2.53%. 

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 22nd, 2019.

Tilted Earth - A Summer Solstice Celebration. Annual fundraiser for local non profits with 4 live bands, local wines, wine garden, local foods, massage and a silent auction, creekside. Admission: $65 presale, $75 day-of. Time: From: 5:30 PM to 12:00 AM. Page Springs Vineyards and Cellars, 1500 N Page Springs Rd Cornville. For more information call Gayle Glomski 928-639-3004.

Summer Solstice Ceremony with Druid Linda Mae. This is a Druid ceremony celebrating the Summer Solstice. It is a rite of the longest daylight of the year leading into the beginning of the abundance of summer, the praying for our good harvest, and the beginning of the turning toward the dark times of the year. Saturday, June 22 2019. Admission: $10.00. Time: From: 6:00 PM to 7:00 PM. Unity of Sedona Peace Park (back lawn area), 65 Deer Trail Dr, Sedona. For more information call Linda Mae Costello 928-282-7181.

Looking forward, there is the 4th of July Wet Fest. Enjoy lunch and music, a swimming pool and water slide fun all surrounded by the spectacular red rocks. This event is free of charge. The pool opens at 12:00 PM for free recreation swim. Just outside the pool gate will be vendors and fun water games to help you beat the heat. Parking will be available in the West Sedona School parking lots. Admission: Free (food not included). Time: From: 12:00 PM to 4:00 PM. Sedona Community Pool, 570 Posse Ground Road, 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:         12    Average: 17.9  (New Listings; Back on Market)
Under Contract:     25    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     15     Average: 9.1  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        14     Average  10.2
Price Increases:             0     Average    0.8 

Contract Ratio:  42.50. The average over the last year is 34.50. 

The Average Price per Square Foot of homes that are Under Contract was $296.13 per square foot. The yearly moving average is $323.03 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $274.19 per square foot.

The Fed gave a suggestion that it could reduce rates as soon as July in order to maintain the current economic expansion. The S&P 500 climbed 2.3% to reach a new all-time high of 2,964.15. The markets eased off the top at the end of the week with the S&P 500 closing at 2,950.46, the Dow at 26,719.13, and the Nasdaq at 8031.71.

The benchmark 10-year Treasury yield hit a low of 1.973% falling under 2% for the first time since November 2016. As with equities, the Treasury markets gave some back at the end of the week. The 5-year closed the week at around 1.80%, the 10-year at around 2,06%, and the 30-year around 2.59%. 

Tension over Iran saw Gold rise about 4%, breaking the $1,400 per ounce level for the first time since 2013. Oil prices surged with West Texas Intermediate futures rising more than 9%, the largest weekly gain since December 2016. The dollar fell 1.3% against a basket of currencies, the biggest weekly drop since 2018, and its lowest level since March.

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 15th, 2019.

June 14–16, 2019 at the Sedona Performing Arts Center. Sedona PhotoFest is a series of educational and inspiring presentations on photographic technique, use of digital software and personal artistic perspectives from some of the top photographers in the country. The Sedona Performing Arts Center, 995 Upper Red Rock Loop Rd Sedona Red Rock High School Sedona. For more information, call (928) 282-3809.

The Grape Train Escape wine-tasting train is uncorked at Verde Canyon Railroad! This summer, on select Saturday night starlight trips, Verde Canyon Railroad is pleased to feature a selection of sips from Verde Valley wineries. June 15th will feature the Clarkdale favorite, Chateau Tumbleweed. Admission: $129. Time: From: 5:30 PM to 9:30 PM. The Depot, 300 N Broadway Clarkdale. For more information, call (800) 293-7245.

We would not be able to do what we do without our amazing volunteers! Each day dozens of volunteers help the Sedona Community Center carry out its mission to provide outstanding programs and services to the residents of Sedona. We need: Meals on Wheels drivers; Lunch servers; Lunch greeters; Kitchen helpers; Concierge; TeleCare Callers; Event assistants; Gardeners, and Helpers for our big mailing projects. If you have been considering serving on a non-profit board and our mission interests you, let us know. Sedona Community Center, 2615 Melody Ln Sedona. For more information, call Linda Gray (928) 282-2834.

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: 18.1  (New Listings; Back on Market)
Under Contract:     22    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average: 9.1  (Sold; Closed Escrow) 
Off Market:               2     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        11     Average   10.1
Price Increases:            1     Average   0.8 

Contract Ratio:  42.20. The average over the last year is 34.60. 

The Average Price per Square Foot of homes that are Under Contract was $288.40 per square foot. The yearly moving average is $323.65 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $273.65 per square foot.

The belief that the next move will be for the Fed to reduce interest rates has also become politically tempered. Markets now believe that the Fed will not make a move next week. Commentators point to the need to avoid having an effect on the up-coming G-20 and a potential U.S. China trade agreement. Avoiding the appearance of being influenced by the President, and avoiding the appearance that their previous rate increase was a mistake.

Kevin Hassett, the Chairman of the White House Council of Economic Advisers believes that the U.S. economy will grow 3% this year. Market opinion suggests that we will see 2% for second-quarter gross domestic product growth. However, with the rise in the May Retail Sales, plus an upward revision in the previous month's numbers, and an increase in U.S. manufacturing output in May, the first monthly gain this year, the concerns about the softening of the economy seem to have faded.

U.S. government debt yields were little changed on Friday as investors wait for any policy change from the Federal Reserve. The yield on the 2-year note was around 2.02%; the 5-year 1.84%; the 10-year 2.08%, and the 30-year bond 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. 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.  

Weekly Update. June 1, 2019.

Volunteer for the Sedona Community Center. Monday, June 3 2019. We would not be able to do what we do without our amazing volunteers! Each day dozens of volunteers help the Sedona Community Center carry out its mission to provide outstanding programs and services to the residents of Sedona. We need: Meals on Wheels drivers; Lunch servers; Lunch greeters; Kitchen helpers; Concierge; TeleCare Callers; Event assistants; Gardeners; Helpers for our big mailing projects. If you have been considering serving on a non-profit board and our mission interests you, let us know. Admission: Free. Time: From: 8:00 AM to 5:00 PM. Sedona Community Center, 2615 Melody Lane, Sedona. For more information call Linda Gray (928) 282-2834. 

Sedona PhotoFest. June 14–16, 2019 at the Sedona Performing Arts Center. Sedona PhotoFest is a series of educational and inspiring presentations on photographic technique, use of digital software and personal artistic perspectives from some of the top photographers in the country. Sedona venues - various. See website. For more information call (928) 282-3809. 

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: 18.0  (New Listings; Back on Market)
Under Contract:     29    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     12     Average: 9.3  (Sold; Closed Escrow) 
Off Market:             11     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:        7     Average   10.0
Price Increases:           2     Average    0.8 

Contract Ratio:  35.70. The average over the last year is 34.80. 

The Average Price per Square Foot of homes that are Under Contract was $285.42 per square foot. The yearly moving average is $325.28 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $273.93 per square foot.

U.S. government debt yields fell sharply following President Donald Trump’s new tariff threats on all Mexican imports. The yield on the benchmark 10-year Treasury note was at around 2.14%. The partial yield curve invertion remained wiyh the yield on the 3-month Treasury bill at 2.35%. The 2-year note was at 1.93%, the lowest level since January 2018.

The Commerce Department announced that the U.S. economy grew by 3.1% in the first quarter, slightly better than market expectations. The first-quarter gross domestic product (GDP) was adjusted lower than the initial 3.2% projection from the Bureau of Economic Analysis, due to downward revisions to nonresidential fixed and private inventory investment.

In an interview with CNBC, Byron Wien, vice chairman of private wealth solutions at Blackstone, said that the U.S. trade fight with China is a “serious” issue, but this ongoing conflict will not cause a recession or a steeper downturn in the stock markets. He said that the S&P 500′s drop of more than 5% this month is part of a “normal correction” in a stock market that is “still in reasonably good shape.” He said he doesn’t expect a bear market, which is typically defined as a drop of 20% or more from a market’s recent peak.

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. May 25, 2019.

The Sedona International Film Festival has two premiere showings for your entertainment. There is the new dramatic thriller “Red Joan” with Award-winner Dame Judi Dench in the starring role alongside a stellar ensemble cast, including Sophie Cookson and Tom Hughes, and directed by Trevor Nunn. Also a new documentary “Meeting Gorbachev”, Werner Herzog and André Singer’s riveting documentary filled with unforgettable archive materials and based on three long interviews that provides incredible access to one of the world’s greatest living politicians. Admission: $12 general admission; $9 for film festival members. Times vary. Please check the website. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. Please call Patrick Schweiss on 928-282-1177 for more information.

Today is the 29th Annual Zuni Festival of Arts and Culture. Enjoy a weekend celebration of the culture, arts and traditions of the Zuni people, who have lived and farmed on a tributary of the Colorado River for 4,000 years. For this festival, Zuni artists and performers travel from their home in the Pueblo of Zuni to share their art, language, life ways, traditional music and dances. The festival includes talks and presentations about Zuni history and traditions. Admission: Weekend Pass: $18 adult, $12 youth/student/American Indian. Time: From: 9:00 AM to 5:00 PM. the Museum of Northern Arizona, 3101 N Fort Valley Rd Flagstaff. Please call Kristan Hutchison on 928-774-5213 for more information.

The Verde Canyon Railroad offers this monthly Starlight Excursion on select Saturdays May 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 an 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. Please call Ellen on 800-293-7245 for more information.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         26    Average: 17.7  (New Listings; Back on Market)
Under Contract:     22    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average: 9.4  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:       25     Average   10.0
Price Increases:            0     Average     0.8 

Contract Ratio:  35.00. The average over the last year is 35.00. 

The Average Price per Square Foot of homes that are Under Contract was $298.21 per square foot. The yearly moving average is $325.71 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $273.46 per square foot.

With trade negotiations with China still unsettled, Equity Markets recovered on Friday, but were down on the week. The Dow Jones Industrial Average closed at 25,585.69, The S&P 500 at 2,826.06, and The Nasdaq Composite at 7,637.01.

The unsettled situation and fear of the impact on GDP and economic growth pushed yields on US Treasuries lower. The yield on the 10-year Treasury note was at around 2.32%, and the 30-year U.S. bond yield was at around 2.75%. The 3-month Treasury bill yield was at around 2.35%, which the small yield curve inversion in the shorter part of the curve.

The fall in US Treasury yields led to a decline in mortgage rates. According to Mortgage News Daily, the most qualified borrowers could see a rate under 4%. Last November, the average rate was over 5%, as the expectation was for the Federal Reserve to continue pushing rates higher. 

Minutes from the May 1/2 Federal Open Market Committee meeting reflected that the general expectation was for further economic growth, and concerns about a slowdown have receded. Despite that positive outlook, and citing a lack of inflation pressures, the committee advocated holding the line on interest rates. Wall Street chatter suggested that the Fed may even consider an interest rate cut this year, as insurance against any economic weakness caused by a tariff war.

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. May 18, 2019.

Today is the 52nd Annual Jerome Historic Home and Building Tour May 18-19, 2019, 9am to 3pm for last ticket sales $20 adults/$10 children/under 3 free Meet at Spook Hall. Guests are delivered to the homes by vans. Lots of steps. Not handicapped accessible. Online tickets at jeromechamber.com or at the door. Admission: $20 adults $10/kids Under 3 free. Time: From: 9:00 AM to 3:00 PM. Spook Hall, 260 Hull Avenue Jerome. For more information call Donna Chesler, 928-634-0774.

Daily Guided Nature Hike at Red Rock State Park. Every morning a volunteer naturalist leads a guided nature walk informing visitors about the different life zones of Red Rock State Park. The subjects discussed on this walk include geology, wildlife, history, archaeology, and plant life. Our naturalists welcome questions during the walk, enhancing the learning experience. This guided walk is included with park entrance fees. No reservations required. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: From: 10:00 AM to 12:00 AM. 4050 Red Rock Loop Rd Sedona. For more information call Jared Hemsoth, 928-282-6907.

WomanSpeak International Festival for Leadership, Public Speaking, Message Development. Say YES to the power of your ideas at the WomanSpeak International Festival in Sedona, Arizona. Experience three-days of world class training on message development and building greater influence with your ideas in your community, industry and around the world. WomanSpeak offers a unique, embodied approach to public speaking, public relations and ways to get your voice out that is specifically for women. ?? Ticket Discount available for locals to Arizona. Details on website. Mainstage & VIP Tix. Admission: $197 and up for Event Tickets & Adalia Tara Concert Saturday Night $25. Time: Friday 5/17 (9:00 AM to 9:30 PM). Sat 5/18 (7:30 AM to 8:00 PM) & Sun. 5/19 (8:00 AM to 5"00 PM). Sedona Community Center, 2615 Melody Ln, Sedona. 995 Upper Red Rock Loop 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:         21    Average: 17.5  (New Listings; Back on Market)
Under Contract:     30    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     14     Average:  9.5  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:       19     Average   9.7
Price Increases:           0     Average   0.8 

Contract Ratio:  34.50. The average over the last year is 35.20. 

The Average Price per Square Foot of homes that are Under Contract was $289.89 per square foot. The yearly moving average is $325.75 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $272.90 per square foot.

The Bureau of Labor Statistics most recent figures for unemployment had the U.S. rate fall to 3.6%, its lowest reading since December 1969. They also announced that three states have set all-time record lows. Vermont has the lowest in the USA at 2.2%. Pennsylvania was at 3.8% and Wisconsin was at 2.8%. The employment performance in these States may have some significance for November's General Election. The Bureau's records that go back to 1976.

The University of Michigan’s preliminary number for its Consumer Sentiment Index rose to 102.4, up from 97.2 in April. This was well ahead of market expectations. This is the highest level for the Index in 15 years, showing that Americans are more positive on the health of the economy.

Suggestions that the trade talks between China and the U.S. have stalled and a breakdown in Brexit talks in the U.K., saw equity markets retreat. The Dow Jones Industrial Average closed at 25,764, the S&P 500 at 2,859.53, and the Nasdaq Composite at 7,816.28.

For the same reasons, U.S. government debt yields fell slightly, and despite the stronger consumer sentiment data. The yield on the benchmark 10-year Treasury note was at about 2.39%, and the yield on the 30-year Treasury bond was at about 2.82%. The spread between the 10-year Treasury yield and the 3-month Treasury bill yield was just -0.6 basis points.

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. May 11, 2019.

By popular demand, the Sedona International Film Festival is presenting “Hotel Mumbai” on May 10th through 15th. “Hotel Mumbai” features an award-winning ensemble cast, including Academy Award-nominee Dev Patel, Armie Hammer, Jason Isaacs, Anupam Kher and Nazanin Boniadi. 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.

Mother's Day Brunch. Celebrate the mother in your life with a delightful brunch where she does not have to prepare or clean up!! Mother's deserve the best. Honor your special Mother with a wonderful, relaxing brunch created just for her! Admission: $39.95 adult, $16.95 children (5-12). Time: From: 11:00 AM to 3:00 PM. Poco Diablo Resort, 1752 State Route 179 Sedona. For more information call T.C.'s Bar and Grill, 928-203-5936.

There is a Mother’s Day Piano Solo Concert by David Lieberstein May 12 – Sunday Evening at 7:30 PM in the Great Room. David creates his original compositions that are both relaxing and moving. The intent is to inspire the listeners to find their own inner peace. He will be sharing music from his album, “The Child Within” along with recently inspired pieces. David lives in Marin County, California with his wife and their son. Admission: $20 at the door (A benefit for Sedona Creative Life). Time: From: 7:30 PM to 9:00 PM. Sedona Creative Life Center, 333 Schnebly Hill Rd Sedona. For more information call David Lieberstein at 707-484-0656. 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: 17.6  (New Listings; Back on Market)
Under Contract:     24    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     13     Average: 9.5  (Sold; Closed Escrow) 
Off Market:               7     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:       11     Average   9.4
Price Increases:           1     Average   0.8 

Contract Ratio:  36.90. The average over the last year is 35.60. 

The Average Price per Square Foot of homes that are Under Contract was $291.64 per square foot. The yearly moving average is $325.91 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $272.13 per square foot.

The latest CNBC|SurveyMonkey Small Business Survey gave a of 59, up from 58 in the first quarter 2019. Small business owners are optimistic about the direction of their business over the next 12 months. 56% said business conditions were good, and 60% said they expect revenue to increase in the next year. Those 6% who expect revenue to decrease is at the lowest level since the first quarter of 2018, and the 5% who describe business conditions as bad is at the lowest level in the survey’s history.

The Commerce Department announced that the trade deficit rose 1.5% from February to a seasonally adjusted $50 billion in March, roughly in line with market estimates. The March number is below the December 2018 high of $59.9 billion, the largest deficit in 10 years.

U.S. government debt yields were lower on Friday as investors considered the impact of trade relations with China. The yield on the 2-year Treasury note was around 2.27%, the benchmark 10-year Treasury note was around 2.47%, and the benchmark 30-year Bond was around 2.89%. The Dow Jones Industrial Average closed the week at 25,942.37, the S&P 500 at 2,881.40, and the Nasdaq Composite at 7,916.94.

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.