Real Estate Information

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 $247.71 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 $247.71 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.  

Weekly Update. December 1, 2018.

Reindeer Decoration. Starting today, Saturday, December 1st, The City of Sedona Parks and Recreation Department is decking the halls with lots of cheerful decorations around town. Don't miss the shows. The light shows can be seen from numerous spots throughout the Uptown and Gallery Row areas. See Designated Viewing Areas for the best vantage points. Admission free. Uptown Sedona.

Verde Canyon Railroad has a brand new Christmas event. Every weekend evening from December 1st through the 23rd, guests will enjoy a bird’s eye view of a magical holiday village and an illuminated adventure via a decorated train during very special night-time runs to Santa's workshop and back. Every Saturday and Sunday there will be two departure options, each a 1 hour round-trip: 5:30pm and 7:00pm. Admission: First Class (all ages) $45, Adult Coach $32.50, Senior Coach $29, Child Coach $22.50, Caboose Charter (seats 6) $250. Time: 5:30-6:30pm and 7:00pm-8:00pm. 300 N Broadway Clarkdale.

Join us after the Cottonwood Christmas parade for The Verde Valley Humane Society's First Annual Deck The Paws Holiday Bazaar. The event will be held at the Moose Lodge on Saturday, December 1st from 12 noon until 5 pm. The event will feature artists, crafters, and vendors, hourly raffle drawings for great prizes, gift wrapping services (for a small donation) and a bake sale, plus a live remote, Santa and Mrs. Claus, and much more. Admission: Free. Time: From: 12:00 PM to 5:00 PM. Moose Lodge1051 S. Broadway Clarkdale.

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:     16    Average: 22.8  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      11     Average: 9.8  (Sold; Closed Escrow) 
Off Market:               6     Average:   5.5  (Canceled; Expired; Temporary Off Market)

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

Contract Ratio:  24.50. The average over the last year is 38.00. 

The Average Price per Square Foot of homes that are Under Contract was $323.31 per square foot. The yearly moving average is $308.20 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $264.34 per square foot.

The Case-Shiller Home Price Index from S&P Dow Jones Indices and CoreLogic shows, for the second consecutive month, that annual home price gains have slowed across the country. The report showed that, for home prices nationwide, the September 2018 increase was 5.5%. This was lower than the 5.7% shown in the previous month's report. The seasonally adjusted national index year-on-year change has been between 4.2% and 6.7% for approximately the last two years.

The National Association of Realtor’s index of Pending Home Sales of previously owned homes decreased to 102.1, down 2.6% from the previous month. September’s index was revised to 104.8 from 104.6. Pending home sales are considered an indicator of the health of the housing market. Home Resales rose 1.4% in October from the prior month, but were down 5.1% year-on-year. This was the sharpest 12-month fall since July 2014. Compared to one year ago, pending sales are down 6.7%.

The U.S. Census Bureau and the Department of Housing and Urban Development reported that New Home Sales in October fell to a seasonally adjusted annual rate of 544,000, a fall of 8.9% from the September rate of 597,000. Compared to the October 2017 rate of 618,000, this was a decrease of 12%. At the peak in 2005, new home sales posted a seasonally adjusted annual rate of nearly 1.4 million.

Following comments from Federal Reserve officials, which some commentators believed was a withdrawal from the Fed's stated 2019 interest rate hike policy, U.S. government debt yields fell slightly. The 2-year Treasury yield was around 2.80%. The yield on the benchmark 10-year Treasury note was around 2.99%, and the yield on the 30-year Treasury bond was around 3.30%.

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. November 24, 2018.

Ethnobotany of Sedona Guided Hike. Learn more about the native plants and trees here in the Sedona. Our volunteer guides explain how plant life is interconnected with indigenous cultures, pioneer settlers, people in our contemporary times and wildlife. This interpretive experience is for both the beginner and experienced hiker, lasting between 1½ to 2 hours. If you have any questions, please call 928-282-6907. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13) Time: From: 1:00 PM to 2:30 PM. 4050 Red Rock Loop Rd Sedona.

The National Theatre of London continues its season with its acclaimed new production of “The Madness of George III” showing in Sedona on Sunday, Nov. 25 at 3:00 PM. Written by one of Britain’s best-loved playwrights, Alan Bennett, this multi-award-winning drama will be broadcast to cinemas in The National Theatre Live’s first ever broadcast from Nottingham Playhouse. Admission: $15 general admission; $12.50 film festival members. Time: Starting: 3:00 PM. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona.

Every Monday, January through May, and September through December, at the Sedona Heritage Museum, starting at 11:00 AM, there are 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. Call for details of the next demo, 928-282-7038 or follow us on Facebook.com/SedonaMuseum. Admission: Free. Time: From: 11:00 AM to 1:00 AM. 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:         11    Average: 18.4  (New Listings; Back on Market)
Under Contract:     15    Average: 23.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       2     Average: 9.8  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        7     Average   8.3
Price Increases:            0     Average   0.9 

Contract Ratio:  29.60. The average over the last year is 38.20. 

The Average Price per Square Foot of homes that are Under Contract was $342.10 per square foot. The yearly moving average is $306.99 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $261.78 per square foot.

According to The Mortgage Bankers Association's seasonally adjusted index, total mortgage application volume fell 0.01% last week from the previous week. Volume was 22% than a year ago. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less), with 20 percent down payments, fell to 5.16% percent from 5.17%. Mortgage applications to refinance a home loan fell 5% for the week to the lowest level since December 2000. Refinance volume was 40% lower than a year ago. The refinance share of mortgage activity decreased to 38.5% of total applications from 39.4% the previous week.

After the Thanksging holiday, the Dow Jones Industrial Average and S&P 500 fell further. The indexes were down 4.3% and 3.7%, respectively. The yield on the benchmark 10-year Treasury note closed around 3.05%, and the yield on the 30-year Treasury bond was around 3.31%.

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. November 17, 2018.

Paint Along For Fun at Vino Di Sedona. Follow step by step instruction by local artist Phyllis Anglin to create your own souvenir painting. No artistic ability required, this is an event is fun for everyone! Reservations are required 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.

The Sedona International Film Festival presents the acclaimed new film “Here and Now” Nov. 16-21 at the Mary D. Fisher Theatre. “Here and Now” features a stellar, award-winning ensemble cast, including: Sarah Jessica Parker, Simon Baker, Common, Taylor Kinney, Waleed Zuaiter, with Jacqueline Bisset and Renée Zellweger. Vivienne (Sarah Jessica Parker), is an established singer with a successful music career. 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.

Arizona Music Hall of Fame icon, Walt Richardson brings his amazing reggae rock show to Sedona, with special friends Gigi Gonaway (Whitney Houston, Steve Winwood, Aretha Franklin), Drew Hall (Cheektones), and more. This is sure to be an amazing rock event of music and dancing at the best club in Arizona. Admission: $20. Time: From: 7:00 PM to 10:00 PM. 101 N State Route 89A Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         10    Average: 18.4  (New Listings; Back on Market)
Under Contract:     27    Average: 23.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     14     Average: 9.9  (Sold; Closed Escrow) 
Off Market:               8     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:       16     Average   8.3
Price Increases:            1     Average   0.9 

Contract Ratio:  28.10. The average over the last year is 38.30. 

The Average Price per Square Foot of homes that are Under Contract was $342.67 per square foot. The yearly moving average is $305.50 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $261.00 per square foot.

The Federal Reserve intends to look at how it conducts policy and conveys what is doing to the public. Central bank officials announced that they will look at the "strategies, tools, and communication practices" that they use to formulate monetary policy. Such a review has been a matter of discussion at recent Federal Open Market Committee meetings.

U.S. government debt yields reamined steady following comments from Federal Reserve Chairman Jerome Powell. The yield on the benchmark 10-year Treasury note was around 3.12%, and the yield on the 30-year Treasury bond was around 3.37%.

If you are thinking of moving, please call or email me for a free Pre-Market Analysis. Also, if you would like to move to Sedona, please don't hesitate to get in touch. I would be delighted to help you.

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. November 10, 2018.

The Sedona Heritage Museum and City of Sedona join to present this annual Veteran’s Day Tribute every November 11, at 11 am. This event has become the community’s official Veteran’s Day celebration. The day begins with the flag ceremony, dignitaries, and a veteran’s tribute and music. After the program, there is free food and entertainment. All veterans and active military personnel will be honored and are invited. Free and open to the general public. Admission: Free. Time: From: 11:00 AM to 1:00 PM. 735 Jordan Rd Sedona.

Also at The Sedona Heritage Museum on Monday, and every Monday January through May and then September through December, come and see old-time craft and skills demonstrations from quilting, wood-carving, chair caning, bread baking, egg painting, jelly-making, broom-making and lots more. Usually free unless supplies involved. Call for details of the next demo, 928-282-7038 or follow us on Facebook.com/SedonaMuseum. Admission: Free. Time: From: 11:00 AM to 1:00 AM. 735 Jordan Rd Sedona.

The Sedona Art Show's goal is to offer true artists and craftsmen a Unique "Boutique" Art show representing Great American Arts and Crafts that showcases their work. The show avoids buy and sell booths and commercial booths, but rather supports local Artists & Craftsmen. The community and visitors have a chance to find unique and custom treasures. Admission: Free. Time: From: 9:00 AM to 5:00 PM. Relics Restaurant, 3235 W Hwy 89A Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         16    Average: 18.5  (New Listings; Back on Market)
Under Contract:     14    Average: 23.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average: 9.9  (Sold; Closed Escrow) 
Off Market:               2     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:       12     Average   8.2
Price Increases:            1     Average   1.0 

Contract Ratio:  26.80. The average over the last year is 38.30. 

The Average Price per Square Foot of homes that are Under Contract was $364.82 per square foot. The yearly moving average is $303.97 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $258.66 per square foot.

U.S. government debt yields fell on Friday following the Federal Reserve's Open Market Committee's decision to remain with its current policy. The yield on the 10-year Treasury note was around 3.19%, and the yield on the 30-year Treasury bond was around 3.39%. 

The Labor Department announced that new applications for U.S. unemployment fell slightly, with the number of Americans receiving benefits holding around its 45-year low. Initial claims for state unemployment benefits dropped by 1,000 to a seasonally adjusted 214,000 for the week ended November 3rd. The prior week's numbers wer revised to show 215,000 claims received. This was 1,000 more than previously reported.

If you are thinking of moving, please call or email me for a free Pre-Market Analysis. Also, if you would like to find your dream home in Sedona, please don't hesitate to get in touch. I would be delighted to help you.

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. November 3, 2018.

Dia De Los Muertos Celebration at Tlaquepaque, now in its Seventh year. Dia de los Muertos celebrates the timeless Mexican tradition that honors friends and family who have passed on. The Dia de Los Muertos celebration culminates with a full day of music, food, fire dancing, and more on Saturday the 3rd, from 4:00pm-8:00pm. Everyone is encouraged to place personal objects, photos, and candles celebrating the lives of their loved ones. Admission: Free. Time: From: 4:00 PM to 8:00 PM. 336 State Route 179 Sedona.

TEDxSedona. In the spirit of ideas worth spreading, TEDxSedona is a local event that brings people together to share a TED-like experience. The event features amazing national and local speakers as well as musical performers. Time: From: 9:00 AM to 5:00 PM. The Collective, 7000 SR 179 Sedona.

Yavapai College 50th Anniversary Celebration. Starting at 9:00 AM, YC’s Culinary Institute will offer free cooking classes and demonstrations for kids and adults. OLLI and Community Education instructors will offer mini-classes on available courses and workshops. There will be a free boxed lunch made by the Culinary Institute students. Come cook, eat, and learn. From 2:00 PM to 3:00 PM there will be the 50th Anniversary Presentation & Reception. Admission: Free. Time: From: 9:00 AM to 3:00 PM. Yavapai College Sedona Campus, 4215 Arts Village Drive Sedona.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         15    Average: 18.4  (New Listings; Back on Market)
Under Contract:     20    Average: 23.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average: 9.9  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.7  (Canceled; Expired; Temporary Off Market)

Price Reductions:       14     Average   8.2
Price Increases:            0     Average   0.9 

Contract Ratio:  27.10. The average over the last year is 38.40. 

The Average Price per Square Foot of homes that are Under Contract was $376.90 per square foot. The yearly moving average is $301.89 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $256.81 per square foot.

The Labor Department announced that job growth increased by over 3% for the first time since the "Great Recession". Nonfarm payrolls rose 250,000 for the month, well ahead of market expectations. The unemployment rate remained at 3.7%, the lowest since December 1969. 

The number of people employed increased to a record 156.6 million, and the ratio of employed to population increased to 60.6%, the highest level since December 2008. The labor force participation rate rose to 62.9%. Those people counted as outside the labor force fell by 487,000 to 95.9 million. U-6, (the Labor Departments measure of Total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force.) on a seasonally adjusted basis, fell to 7.4. It stood at 8.0 a year ago, October 2017. 

Wage growth, which has lagged behind other employment statistics, showed an average hourly earnings increase of 5 cents an hour for the month, and 83 cents year over the year. This represents a 3.1% gain. This annual increase in wages was the best since 2009.

The strong U.S. economy is having an effect on the construction industry. The tighter labor market is acting as a brake on growth as construction jobs remain unfilled. The industry is trying to attract more workers by offering higher pay, better benefits and on-the-job training. They are also reaching out to groups who have not traditionally been employed in construction.

The yield on the two-year Treasury note closed around 2.91% having reached 2.92%, its highest level since 2008. The yield on the 10-year Treasury note rose to around 3.21%, and the yield on the 30-year Treasury bond increased to around 3.45%, the highest level since 2014. This last week has seen the yield on the two-year note rise more than 9 basis points, and the yield on the 10-year Treasury rise about 12 basis points.

Like the jobs market, the Sedona Real Estate inventory remains tight. If you are considering a move, this may be the right time to market your property. Please call or email me for a free Pre-Market Analysis. Indeed, if you know of anyone who needs assistance with their real estate goals, I have the necessary experience, so please don't hesitate to 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 27, 2018.

Working artists in the Verde Valley will be opening their private studios to the public for the Sedona Fall Open Studios Tour, which will be held the weekend of October 26-28, 2018. This wonderful, bi-annual self-guided event is presented by the Sedona Visual Artists’ Coalition (SVAC) and is always free to the public. The Tour runs from 10 am-5 pm Friday and Saturday, October 26 and 27, and from 12-5 pm on Sunday, October 28. Admission: Free. Contact Mike Upp Phone: 503-789-4437.

Fall Arts & Crafts Fair, featuring a fine collection of local artists and crafters, all handmade, some of whom only sell at this show. Get a jump on your holiday shopping! Choose from pottery, jewelry, fine art & photography, gourd items, stained glass, wood, greeting cards, gift items galore, baskets & wreaths, lotions & soaps, handmade fiber art & clothing, and MUCH more. Homemade bake sale goodies until they are gone! Lunch served on-site by the Sedona Community Center. 9 am-3 pm. Free show. Admission: Free. Time: From: 9:00 AM to 3:00 PM. Sedona Heritage Museum, 735 Jordan Rd Sedona.

Ethnobotany of Sedona Guided Hike. Learning more about the native plants and trees here in the Sedona area is a great way to enhance any hike. Our volunteer guides explain how plant life is interconnected with indigenous cultures, pioneer settlers, people in our contemporary times and wildlife. This interpretive experience is for both the beginner and experienced hiker, lasting between 1½-2 hours. If you have any questions, please call 928-282-6907. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: From: 1:00 PM to 2:30 PM. Red Rock State Park, 4050 Red Rock Loop 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:         24    Average: 18.5  (New Listings; Back on Market)
Under Contract:     19    Average: 23.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average: 10.0  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.7  (Canceled; Expired; Temporary Off Market)

Price Reductions:       18     Average   8.1
Price Increases:            1     Average   0.9 

Contract Ratio:  26.40. The average over the last year is 38.40. 

The Average Price per Square Foot of homes that are Under Contract was $388.36 per square foot. The yearly moving average is $299.48 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $256.54 per square foot.

The Dow Jones Industrial Average fell more than 8% from its record high, giving back more than 500 points at its lowest point on Friday. Market commentators regard a Correction to be a fall of more than 10% from a high, and a Bear Market to be a 20% fall. Technology stocks have seemed to lead the downswing. However, with the mid-term elections upon us, and the possiblity of a reversal in the policies that have created the stock market boom, this set back would seem fairly obvious.

The Sedona housing market is also seeing a little slow-down, with more listings appearing, and more price reductions. This is also evidenced by the reduction in the Contract Ratio. The holiday period is coming closer and activity normally quietens after Thanksgiving. The election may have also delayed some people's decisions with regard to property.

The Commerce Department announced that the U.S. economy grew at a 3.5% annual rate in the third quarter, following a surge in consumer spending. The number was marginally higher than market expectations. The Commerce department also announced that the Personal Consumption Expenditure Index (PCE) increased by 1.6% last quarter, much lower than market expectations. The PCE is a measure closely watched by the Fed.

The expectation is that the Fed will continue its rate hike policy despite the fall in the stock market and continuing evidence that inflation is virtually non-existent.

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 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.