Real Estate Information

Weekly Update. February 9, 2019.

2019 Annual Valentine’s Artist Show today, Saturday, February 9, 2019. Exposures International presents the artwork of six master artists to celebrate love and romance at the gallery’s annual Valentine’s Artist Show. The gallery invites you to explore an abundance of new creations showcased across 20,000-square-feet of art display. Collectors worldwide have recognized Exposures as “One of the largest and most unique galleries in the world.” Admission: Free. Times: Sat 3-7 PM, Sun 11 AM - 1 PM. Exposures Gallery, 561 State Route 179, Sedona.

Verde Valley Sinfonietta Presents “Sweet Melodies”. The second concert of their season is this Sunday, February 10, 2019. Featured works include "Petite Suite" by Claude Debussy, the Mendelssohn "Violin Concerto in E Minor, Opus 64", and "Serenade No. 1 in D Major, Opus 11" by Johannes Brahms. The guest soloist, performing the Mendelssohn Violin Concerto, is Yevgeny Kutik, who has performed with orchestras in the United States and abroad. In April 2019, he will make his debut at the Kennedy Center. Admission: Prices vary from $15 to $60 (Half price for students age 18 and under). Time: From: 2:30 PM to 5:00 PM. Sedona Performing Arts Center, 995 Upper Red Rock Loop Rd Sedona.

Sedona Sunrise Toastmasters. Become a better leader and communicator at Sedona Sunrise Toastmasters, Tuesday 12th. Admission: Free. Time: From: 7:00 AM to 8:00 AM. The Sedona Community Center, 2615 Melody Ln 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:         10    Average: 17.6  (New Listings; Back on Market)
Under Contract:     19    Average: 22.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       5     Average: 9.6  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:       10     Average   8.8
Price Increases:           0     Average   0.9 

Contract Ratio:  30.10. The average over the last year is 37.20. 

The Average Price per Square Foot of homes that are Under Contract was $288.46 per square foot. The yearly moving average is $321.05 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $267.65 per square foot.

The U.S trade deficit fell in November for the first time in five months. Narrowing the balance between imports and exports has been a major goal of the current administration. The most recent data showed an 11.5% decline in the Trade Gap to $49.3 billion versus $55.7 billion in October. The narrowing was mainly due to a reduction in imports, which fell 2.9% to $259.2 billion. There was also a reduction in exports to $209.9 billion, but this was only a 0.6% fall.

Federal Reserve Chairman Jerome Powell, speaking in Washington D.C. to a group of educators, said his greatest economic fears were not something within the Fed's mandate. He said that lower productivity and the widening wealth gap are the biggest challenges facing the U.S. He called for more aggressive policies to address income inequality.

The fear of a slowdown in the global economy led to a fall in the Dow. As is usual when there is talk of recession bond yields fell as well. The yield on the benchmark 10-year Treasury note fell to 2.68%, and the yield on the 30-year Treasury bond was lower at around 3.02%.

The Federal Reserve's previous Chair, Janet Yellen, noted that if the economies of China and Europe continue to weaken, the next move by the Fed may well be an interest rate reduction.

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.  

Yesterday, February 1st, BloomTree Realty entered into a strategic marketing and branding alliance with Better Homes & Gardens Real Estate. Better Homes & Gardens has a 96% brand recognition and has 40 million subscribers. The alliance will put Better Homes and Gardens BloomTree Realty in the forefront of the digital age of Real Estate.

Weekly Update. February 2, 2019.

The Sedona International Film Festival has the next Met Live Opera presentation of Georges Bizet’s “Carmen” today Saturday, February 2nd. There will be two shows, 11:00 AM (the live simulcast) and 4:00 PM (encore). Clémentine Margaine is opera’s ultimate seductress, opposite Roberto Alagna, who captivated Live in HD audiences as Don José in 2010. Louis Langrée conducts Sir Richard Eyre’s lively production, a favorite in the Met’s repertoire. Admission: $25 general admission; $22 film festival members; $15 students. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona.

Photography 101 // Learn To Use Your Camera. Today, Saturday, February 2nd, 2019, join Andrew Slaton in Sedona for a 3 hour course that will teach you how to get the most out of your camera. Learn how to shoot like a pro! Admission: $99. Time: From: 1:00 PM to 4:00 PM. Sunset Park, 655 Sunset Dr Sedona.

Sedona Arts Center Members’ Co-op Event. Swing by the Sedona Arts Center Theatre February 1st to 18th to see the original works of twenty talented artists. You'll find oils, acrylics, ceramics, jewelry and much more! The show will be open daily 10:00 AM to 5:00 PM. Admission: Free. Time: From: 10:00 AM to 5:00 PM. 5 Art Barn 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:         15    Average: 17.8  (New Listings; Back on Market)
Under Contract:     21    Average: 22.6  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average: 9.6  (Sold; Closed Escrow) 
Off Market:             10     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        4     Average   8.8
Price Increases:           0     Average   0.9 

Contract Ratio:  29.40. The average over the last year is 37.30. 

The Average Price per Square Foot of homes that are Under Contract was $327.28 per square foot. The yearly moving average is $320.59 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $266.68 per square foot.

The Labor Department reported that nonfarm payrolls surged by 304,000 jobs despite a partial government shutdown. The unemployment rate stood at 4%, slightly higher, although some market commentators suggested that this was a likely effect of that shutdown.

The Labor Department also reported that Wages and Salaries increased by slightly more than 3%, and this is the first time that number has been reached in more than 10 years. For the last quarter of 2018, the quarterly employment cost index showed a 3.1% rise in the wages and salaries component, up from 2.9% in the third quarter. This equals the largest gain since the third quarter of 2008, the beginning of the financial crisis.

News of a continuingly more robust economy saw The Dow post its sixth straight week of gains, the longest since November 2017. The possibility of an increased demand for money to fuel the economy lead to a rise in US Treaury Bond yields. The 2-year note was at 2.51%; the 5-year 2.50%; the 10-year 2.68% and the 30-year 3.03%.

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 BloomTree Realty.  

Weekly Update. January 26, 2019.

An announcement. - On February 1st, BloomTree Realty will be entering into a strategic marketing and branding alliance with Better Homes & Gardens Real Estate. From that day, we will be doing business as Better Homes and Gardens BloomTree Realty. Better Homes & Gardens has a 96% brand recognition and has 40 million subscribers. Everyone is thrilled and we will be better together, giving our Clients and our Agents an even better service. We look forward to working with you. 

The Black Market Trust is an American pop/vocal jazz band whose current release II combines the sounds of the great American crooners and vocal groups with the romantic Eastern European gypsy fire of jazz guitarist Django Reinhardt. Merging their love of everything from The Mills Brothers to The Beach Boys, Sinatra to Lennon/McCartney the band’s sound is a synthesis of two distinctly different vibes- one of a gypsy campfire, the other a slick metropolitan nightclub. Admission: $15. Time: Starting: 7:00 PM. Sound Bites Grill, 101 N State Route 89A, Sedona.

The famous Globe Theatre of London returns to Sedona on Sunday, Jan. 27 in high definition when the Sedona International Film Festival hosts the big screen premiere of “The Winter’s Tale”. There will be one show at 3 p.m. at the festival’s Mary D. Fisher Theatre. This special production is part of the full season of Globe on Screen that will be carried here in Sedona, presented by the film festival. Shakespeare’s Globe on Screen offers audiences a ticket to the best seat in the house. Admission: $15 general admission; $12.50 film festival members. Time: 3:00 PM. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona.

Snowbowl Community Benefit Day. Ski for a cause! On January 27, join us for our first of two Community Benefit Days this season. Lift tickets will be $69 for adults and $59 for teens and seniors available online and at the window. 20% of all lift ticket proceeds will benefit Northland Family Help Center, whose mission is to provide safe haven, advocacy, counseling, and education to promote and restore healthy relationships, and has been serving the Northern Arizona community for 40 years. Time: From: 8:00 AM to 5:00 PM. 9300 N Snowbowl Rd Flagstaff.

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: 18.0  (New Listings; Back on Market)
Under Contract:     12    Average: 22.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average: 9.7  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        6     Average   8.8
Price Increases:           0     Average   0.9 

Contract Ratio:  26.60. The average over the last year is 37.20. 

The Average Price per Square Foot of homes that are Under Contract was $340.32 per square foot. The yearly moving average is $319.24 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $266.02 per square foot.

According to The Wall Street Journal, Federal Reserve officials are nearing a decision on when to end the reduction of the bonds it is holding on its balance sheet, part of the tightening of monetary policy. The Fed began its balance sheet reduction from a peak of over $4.5 trillion in October 2017.

With less than a week away from their next meeting, The Federal Reserve is also in a bit of a dilemma. The ongoing partial government shutdown means they are without some of the data they rely on. Statistics for GDP, Housing, Retail Sales are missing as the Departments handling that information remain closed. However, Departments that handle employment and statistics remain open.

Following the announcement that President Donald Trump had reached a deal with Congress to reopen the federal government for three weeks, U.S. government debt yields rose. The yield on the benchmark 10-year Treasury note was up around 2.76%, and the yield on the 30-year Treasury was around 3.06%.

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. January 19, 2019.

Paint Along For Fun. This Saturday, January 19 2019, follow step by step instruction by local artist Phyllis Anglin to create your own souvenir painting. No artistic ability required, this is an event that is fun for everyone. Reservations are required to participate. Admission: $30. Time: From: 11:00 AM to 1:30 PM. Vino Di Sedona Fine Wine & Craft Beer, 2575 W State Route 89A Sedona.

Yee-haw! The Northern Arizona Suns will be bucking tradition by hosting Western Night, where fans will receive a free NAZ Suns cowboy hat. Admission: as low as $9. Time: 7:00 PM. Prescott Valley Event Center, 3201 N, Main St Prescott Valley.

Celebrate the spirit, songs and stories of John Denver. World-renowned singer and entertainer Jim Curry returns to Sedona by popular demand with his live show and concert “The Music of John Denver”. There will be two performances on Saturday, Jan. 19 on the Goldenstein Stage at the Mary D. Fisher Theatre. Admission: All tickets $20 in advance; $25 at the door. Time: 3:00 PM and 7:00 PM. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 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:         15    Average: 17.9  (New Listings; Back on Market)
Under Contract:     19    Average: 22.5  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       5     Average: 9.7  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:       10     Average   8.9
Price Increases:            1     Average   1.0 

Contract Ratio:  28.00. The average over the last year is 37.30. 

The Average Price per Square Foot of homes that are Under Contract was $342.47 per square foot. The yearly moving average is $317.79 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $266.00 per square foot.

US Government Bond Yields rose nearly all week as trade and other news pushed the fear of recession further into the background. The yield on the benchmark 10-year Treasury note was around 2.79%, and the yield on the 30-year Treasury bond was around 3.10%. The change in sentiment also inspired investors in the Stock Market, as the Dow rose 336.25 points. This closed out the first four week improvement since August.

John Williams, a voting member of the policymaking Federal Open Market Committee, and president of the central bank’s New York region, suggested that the the Federal Reserve should be more cautious about increasing interest rates further. This was in line with recent calls from other Fed officials that suggest there should be a more moderate approach to rate increases in 2019. There were four quarter-point increases in 2018.

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. January 12, 2019.

The National Theatre of London continues its season with its acclaimed new production of “Antony & Cleopatra” showing in Sedona on Sunday, Jan. 13 at 3 p.m. Broadcast live from the National Theatre, Ralph Fiennes and Sophie Okonedo play Shakespeare’s famous fated couple in his great tragedy of politics, passion and power. This National Theatre blockbuster received multiple five-star reviews. Admission: $15 general admission; $12.50 film festival members. Time: 3:00 p.m. Mary D Fisher Theatre2030 W State Route 89A Ste A3 Sedona.

The Monday at the Museum program starts at 11 a.m. every Monday, January through May, and Sept through December, providing demonstrations of old-time craft and skills from quilting, wood-carving, chair caning, bread baking, egg painting, jelly-making, broom-making and lots more. Usually free unless supplies are involved. Please call 928-282-7038 for details of the next demo, or follow them on Facebook.com/SedonaMuseum. Admission: Free. Time: From: 11:00 AM to 1:00 AM. Sedona Heritage Museum, 735 Jordan 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:         13    Average: 17.9  (New Listings; Back on Market)
Under Contract:     17    Average: 22.5  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       4     Average: 9.7  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:       15     Average   8.9
Price Increases:            1     Average   0.9 

Contract Ratio:  25.90. The average over the last year is 37.30. 

The Average Price per Square Foot of homes that are Under Contract was $339.70 per square foot. The yearly moving average is $316.43 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $265.05 per square foot.

U.S. government debt yields fell on Friday following comments by Federal Reserve Chairman Jerome Powell in which he said the Federal Reserve’s balance sheet will be reduced significantly from where it is now. This action would suggest further tightening of monetary policy, which may, if the economy isn't as they believe, and as the Fed did in 1980, push us back into recession. The yield on the benchmark 10-year Treasury note was around 2.70%, and the yield on the 30-year Treasury bond was around 3.03%.

Further comments from the Chairman expressed concern about the amount of United States debt. He is reported to have said, “From the Fed’s standpoint, we’re really looking at a business cycle length. That is our frame of reference. The long-run fiscal, nonsustainability of the U.S. federal government isn’t really something that plays into the medium term that is relevant for our policy decisions.” However, “....it’s a long-run issue that we definitely need to face, and ultimately, will have no choice but to face.” His comments referred to the annual U.S. deficit reaching new regular highs above $1 trillion, effecting the economic lives of future generations. Annual deficits have been over $1 trillion before, but never during a time of sustained economic growth. This again raises concern about a recession, which is generally good for bonds as opposed to equities.

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. January 05, 2019.

Rise & Shine Yoga on the Vortex. Start your day with yoga on the powerful Airport vortex – 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 at every angle. Admission: $55. Time: From: 8:00 AM to 9:30 AM. 1225 W State Route 89A Sedona.

Apaches and Their Horses with Dr. Deni Seymour. It has been thought that the Apache do not become Apache until the adoption of the horse. Horses changed the ancestral Apache lifeway and horses survived and thrived without European horse culture. Horses shaped warfare and intercultural relations, were intertwined with family and inter-band relations. Dr. Seymour is an internationally recognized authority on protohistoric, Native American, and Spanish colonial archaeology and ethno-history. This lecture is included with park entrance fees. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: From: 2:00 PM to 3:30 PM. 4050 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:         15    Average: 18.0  (New Listings; Back on Market)
Under Contract:     12    Average: 22.5  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average: 9.8  (Sold; Closed Escrow) 
Off Market:             16     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        8     Average   8.7
Price Increases:            0     Average   0.9 

Contract Ratio:  20.40. The average over the last year is 37.30. 

The Average Price per Square Foot of homes that are Under Contract was $344.38 per square foot. The yearly moving average is $315.11 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $266.01 per square foot.

The Labor Department announced that Manufacturing added 32,000 jobs in December. The industry posted net job gains of 284,000 over 2018, which was the best calendar year since 1997. The press release said that most of the gains occurred in blue-collar durable goods manufacturing, with growth in fabricated metals and computer and electronic products.

Overall job creation ended 2018 strongly. Nonfarm payrolls increased by 312,000 in December. However, the unemployment rate rose to 3.9% from 3.7% in November, but down from 4.2% in December 2017. The reason for the December increase was that 419,000 new workers entered the workforce.

The measure of unemployment that includes discouraged workers and those holding part-time jobs for economic reasons remained at 7.5%, and labor force participation rate increased to 63.1%, up 0.2 percentage points from November and 0.4 percentage points year on year. Wages also increased by 3.2% from a year ago and 0.4% From November. The year on year increase equals the October rate, which is the best since April 2009. The average work week rose 0.1 hour to 34.5 hours.

U.S. government debt yields increased with the the 2-year yield around 2.45%, the benchmark 10-year Treasury note around 2.63%, and the yield on the 30-year Treasury bond around 2.96%.

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. December 29, 2018.

Here are two January events in Sedona.

January 10-13, 2019 Chamber Music Sedona presents its Sixth Annual Winterfest, including an intimate salon recital, educational events for young students. The program culminates in a chamber music concert at the Sedona Performing Arts Center on January 13. Acclaimed artists Sarah Shafer (soprano), Roman Rabinovich (piano) and Alexander Fiterstein (clarinet) will be performing diverse works including Schubert’s “Shepherd on the Rock.”

January 19-20, 2019. Vegfest is a celebration of the joys and benefits of a plant-based diet and lifestyle. Learn how easy it is to get healthy, reduce animal cruelty, and even save the environment through simple food choices. Hear and connect personally with world-renowned experts, enjoy cooking demonstrations with top plant-based chefs and nutritionists, and discover the latest products and services from healthy, humane, and sustainable product vendors.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:          3    Average: 17.9  (New Listings; Back on Market)
Under Contract:     10    Average: 22.5  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average: 9.8  (Sold; Closed Escrow) 
Off Market:               4     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        5     Average   8.6
Price Increases:            0     Average   0.9 

Contract Ratio:  20.80. The average over the last year is 37.40. 

The Average Price per Square Foot of homes that are Under Contract was $339.57 per square foot. The yearly moving average is $313.71 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $265.46 per square foot.

With the extreme volatility in the Equity markets, US Treasuries remained at their recent highs as a place of sanctuary. The yield on the benchmark 10-year Treasury note was down to 2.25%, with the yield on the 30-year bond standing at 3.02%. There remains a bump in the yield curve around 1-year in anticipation of the Fed raising rates again next year. However, 2-year note slipped to 2.52%, below the 5-year at 2.56%, undoing the "recession" inversion.

As the end of the year approaches, market pundits are vying for attention and are busy making their 2019 forecasts. Interestingly, there seem to be a number of them who are now predicting that the Fed will reduce rates in 2019.

The current very slight set-back in overall USA home prices was indicated by the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, which reported a 5.5% annual gain in October, the same as the previous month. The 10-City Composite annual increase was 4.7%, down from 4.9% in the previous month. The 20-City Composite showed a 5.0% year-over-year gain, down from 5.2% in the previous month. Among the 20, Las Vegas, San Francisco and Phoenix reported the highest year-over-year gains. Phoenix, our nearest City, came in with a 7.7% increase. Sedona is a very specialist market and differs from the general trends in the USA. However, Phoenix, being an easy commute, can sometimes have a localized effect on 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. December 22, 2018.

Holiday Brunch. L'Auberge is offering a series of enhanced Holiday Brunches. They will be featuring a Carving Station with Apple Cider Brined & Roasted Turkey as well as their Herbs Crusted Prime Rib. You can also enjoy building your own waffle, and there is a hot chocolate bar. They are excited to be offering Apple Cider and Orange Creamsicle Mimosas in addition to their Orange juice mimosas and Bloody Marys. $70 plus per adult, and $40 per Child 6 - 12. Time: From: 10:00 AM to 2:00 PM. The Etch Kitchen and Bar, 301 L'Auberge Lane Sedona.

Christmas Music. The Sedona Community is invited to the Arabella Hotel for Christmas music and refreshments. Jeanie Carroll, local singer, songwriter and musician will be singing Christmas carols. Come and request your favorite Christmas song. Hot apple cider and brownies will be served. This evening. Time: From: 5:00 PM to 7:30 PM. The Arabella Sedona, 725 State Route 179 Sedona.

Holiday Sweet Stroll. On this special occasion, Tlaquepaque is cheerfully bedecked in decorative lights and window dressings reminiscent of A Christmas Carol. Santa will be greeting the little ones and carolers dressed in finery from the Dickens era will sing traditional songs acappella as they meander through the courtyards. The Grinch will also be lurking somewhere. Retailers will have their shops open and filled with unique gifts, sweet treats, special give-a-ways, and discounted offers. Admission: free Time: From: 3:00 PM to 7:00 PM. Tlaquepaque, 336 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:          8    Average: 18.0  (New Listings; Back on Market)
Under Contract:     12    Average: 22.6  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     14     Average: 9.9  (Sold; Closed Escrow) 
Off Market:               7     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        8     Average   8.6
Price Increases:            0     Average   0.9 

Contract Ratio:  21.10. The average over the last year is 37.50. The fall in the ratio is partly due to the holiday season. The market remains short of inventory, and if you add together the weekly number of Solds and Pending only, add New Listings and Back on Market, then subtract the former from the latter, on an annual basis, we are losing an average of 2.5 units per week. This trend has been going on since December 2016. 

The Average Price per Square Foot of homes that are Under Contract was $341.12 per square foot. The yearly moving average is $312.23 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $265.54 per square foot.

On Wednesday, The Federal Reservce announced an increase in its benchmark interest rate by a quarter point to a target range between 2.25% to 2.5%. This was largely expected by the markets. It is the fourth increase this year, and the ninth since the Fed changed its policy in December 2015.

While avoiding any discussion of an imminent recession, the Federal Reserve suggested that U.S. economic growth will likely slow as President Donald Trump’s 2020 re-election bid approaches. The Fed's estimate for GDP growth in 2018 is now 3% percent, down 0.1% from September, and its estimate for 2019 growth, the year before the next general election, is now 2.3%, down 0.2% from its last meeting. The Fed's long-term growth estimate was increased to 1.9% from 1.8%. The Fed is now expecting to raise rates only two times in 2019, one less than previously forecast.
 
On the rate news, Bond markets rallied and Equity markets fell. However, with some market commentators suggesting that rate rises will push the economy into recession, the Equity markets lost further ground on Friday. Contrarily, US Treasuries also retreated from their highs, and at the end of the week, the yield on the benchmark 10-year Treasury was around 2.80%, and the yield on the 30-year Treasury bond was around 3.02%.

Have a wonderful holiday season with your family and friends.

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. December 15, 2018.

Sedona Railroaders Annual Christmas Model Train Show. “ALL ABOARD!” for the 20th annual Christmas Model Train Show. This year’s exhibit will include a large G scale and standard gauge layout and an extensive American Flyer S scale layout, a large O scale layout and some HO scale layouts.Two drawings will be held during the course of the event. Prizes include a pair of tickets on the Verde Canyon Railroad and two separate pair of tickets on the Grand Canyon Railroad. Admission: Free. Time: From: 11:00 AM to 4:30 PM. From yesterday until December 29th, with the exception of the 24th and 25th. Sedona Vista Village, 6601 State Route 179 Sedona. 

CPR Heart Saver and First Aid Classes. This course teaches CPR 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. We also can hold a class at your location if needed. Admission: $50. Time: From: 8:30 AM to 12:00 PM. 2860 Southwest Drive Sedona.

Santa at the Visitor Center. Ho! Ho! Ho! - Santa will be at the Chamber of Commerce Visitor Center, during the Sedona Northern Lights event. Admission: Free. Time: From: 6:00 PM to 9:00 PM. 331 Forest 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:           7    Average: 18.0  (New Listings; Back on Market)
Under Contract:     14    Average: 22.6  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       5     Average: 9.8  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:         4     Average   8.5
Price Increases:            3     Average   0.9 

Contract Ratio:  24.70. The average over the last year is 37.70. 

The Average Price per Square Foot of homes that are Under Contract was $328.82 per square foot. The yearly moving average is $310.83 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $265.09 per square foot.

The European Central Bank said they will end their quantitative easing policy at the end of December. This will move their debt purchase from 15 billion euros per month to zero. 

Industrial output in China increased 5.4% in Novembwr from the previous year, slightly below market expectations. Retail Sales rose 8.1% in November, again below market expectations. 

U.S. government debt yields fell at the end of the week as the markets await next week’s Federal Reserve meeting. The yield on the benchmark 10-year Treasury note fell to 2.90%, and the yield on the 30-year Treasury bond ease to 3.15%.

The Federal Housing Administration published its 2019 loan limits. The loan limit for lower-cost areas will be $314,827, or 65% of the national conforming loan limit of $484,350. In high-cost areas, the limit will be $726,525.

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. December 8, 2018.

Old-time Ornament Making. Every age can enjoy making old-time holiday ornaments at the free activity table in the historic Packing Shed. Make small gifts, adornments for holiday packages or trees and wreaths. This is a ‘make & take’ activity to do on your own, though instructions and samples are provided. Admission: Free. Time: From: 11:00 AM to 3:00 PM. Sedona Heritage Museum, 735 Jordan Rd Sedona.

Sedona Northern Lights. Witness the country’s largest 3D holiday light show in The Most Beautiful Place on Earth. Come and see this spectacular light event.  Designated Viewing Areas throughout Uptown Sedona and Gallery Row. Celebrate Sedona's beauty, dark skies and stunning landscapes with the largest 3D mapping project ever done on a natural canvas. Admission: Free. Times: 6:00 pm, 7:00 pm, 8:00 pm and 9:00 pm (show at the top of each hour). Uptown Sedona.

The Festival of Lights, The Lighting of 6,000 Luminarias, a cherished tradition that began 45 years ago. It is a full schedule of lively musical entertainment, a visit from Santa, and free cider awaits, making it the perfect outing for families and friends. The River of Life Tabernacle Choir will be performing. At the tolling of the bell tower at 5:00pm, the lighting of 6,000 luminarias gets underway. Admission: Free: Time: From: 3:00 PM to 8:00 PM. Tlaquepaque, 336 State Route 179 Sedona.

Red Rockappella presents Sedona's first-ever BIG SING. The Elks Lodge will be filled with voices from all over the Verde Valley- including YOURS- as several different performing groups lead the audience in song! There will be all kinds of songs and a holiday sing-along at the end. Admission: Free. Time: From: 2:00 PM to 4:00 PM. Elks Lodge No 2291, 110 Airport 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:         14    Average: 18.2  (New Listings; Back on Market)
Under Contract:     12    Average: 22.8  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average: 9.8  (Sold; Closed Escrow) 
Off Market:               2     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:       12     Average   8.5
Price Increases:            0     Average   0.9 

Contract Ratio:  23.20. The average over the last year is 37.80. 

The Average Price per Square Foot of homes that are Under Contract was $332.03 per square foot. The yearly moving average is $309.60 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $265.56 per square foot.

US Treasury Bonds yields fell on Friday. The yield on the 2-year was about 2.72%; the 5-year 2.70%; the 10-year 2.86%, and the 30-year 3.15%. The Yield Curve "Inversion", (the yield on the 5-year slipping below the yield on the 2-year), is considered a possible indication of an upcoming recession. As stock market volatility caused investors to seek safety in long-term bonds, mortgage rates fell. Freddie Mac said that the 30-year fixed-rate average slid to a two-month low of 4.75%. To put this into perspective, the rate stood at 3.9% a year ago.

With the latest round of market turmoil, commentators have lowered their expectation of an interest rate hike this month. There is also pressure against future increases. Reuters reported that the St. Louis Federal Reserve President James Bullard suggested that the Fed could consider postponing a December rate hike because of the inverted yield curve. On Friday, in a prepared presentation to the Indiana Banker’s Association, Bullard said, “The current level of the policy rate is about right.” In a question and answer session later, he reportedly suggested delaying the expected rate hike until January.

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.