Real Estate Information

Weekly Update. April 14, 2018.

The Sedona Wolf Week was founded by Plan B to Save Wolves and Apex Protection Project. This inaugural, monumental event was created with the mission of changing the way people see wolves and effect how government develops policies regarding wolves while creating respect and protections for this essential apex predator.

In celebration of Sedona Wolf Week, The Sedona International Film Festival is presenting three films on Tuesday and Wednesday, April 17 and 18 at the Mary D. Fisher Theatre. The three films are the animated film “Alpha and Omega” and the Sedona premieres of “The Right To Be Wild” and “The War In Between”. 

Continuing the animal theme, there is a Kick-Off Fundraiser for the VV Humane Society at Alcantara Vineyards to help us build our new puppy kennels & play area. Enjoy local wine, appetizers, raffle prizes & more! Pulled pork entrée provided by Colt Grill. Entertainment by Jazz Group the Diana Lee Quartet. $75 per person or $100 per couples. There are corporate packages available. Purchase your tickets online at verdevalleyhumane.org.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         25    Average: 17.6  (New Listings; Back on Market)
Under Contract:     36    Average: 21.8  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     12     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               4     Average:  5.8  (Canceled; Expired; Temporary Off Market)

Price Reductions:      11     Average   9.2
Price Increases:           1     Average    0.7 

Contract Ratio:  48.80. The average over the last year is 31.40. After last weeks increase in Active listings, the situation has reversed slightly and the activity has pushed the Contract Ratio to a new high. Over the last four weeks, the number of new listings has been 85, while the number under contract is 102. The market is very active.

The Average Price per Square Foot of homes that are Under Contract was $270.47 per square foot. The yearly moving average is $258.32 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $248.00 per square foot.

Federal Reserve officials, at their most recent meeting, described the economy as growing at a strong pace with inflation increasing, too. They all felt that this was justification for futher increases in interest rates. 

The Labor Department announced that new applications for U.S. unemployment benefits fell last week. Although there was a slowdown in job growth in March, the numbers still appear to point to sustained labor market strength. Initial claims for state unemployment benefits dropped 9,000 to a seasonally adjusted 233,000 for the week ended April 7. The previous week's numbers were unrevised.

U.S. government debt yields rose after jobless data. The yield on the two-year note was at 2.35%, the highest level since March 21. The yield on the benchmark 10-year Treasury note rose to around 2.83%, and the yield on the 30-year Treasury bond was higher at 3.04%.

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. April 7, 2018.

The CPR Heart Saver and First Aid Class 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. Admission is $50 From 8:30 AM to 12:00 PM at the Sedona Fire District Station 1, 2860 Southwest Drive Sedona.

The Sedona International Film Festival is showing "Back to Burgundy” (April 6-11) and the critically-acclaimed “Journey’s End” (April 6-12) at the Mary D. Fisher Theatre Admission is $12 general admission and $9 for film festival members. Time: 4 p.m. and 7 p.m. 2030 W State Route 89A Ste A3 Sedona.

On April 8th, Join the knowledgeable volunteers on the trails as they discuss how Sedona was geologically transformed into what we see today. Red Rock State Park is located at the base of the Mogollon Rim, the southern edge of the Colorado Plateau, and, over millions of years of erosion, the rim has receded over four miles leaving behind the picturesque features of Sedona. Admission is included with park admission- $7 per adult (14+) and $4 per youth (7-13) Time: From: 1:00 PM to 3:00 AM. 4050 Red Rock Loop Rd Sedona.

On Monday 9th, M.I.T. Honors Graduate, Pete A. Sanders Jr., shares how to understand and tap into Sedona's famous Vortexes for enhanced prayer, meditation, mind/body healing, clearing hurts, and creative problem solving. To reserve your seat for Monday, at Los Abrigados call the Activity Center at (928) 203-5353 Admission is $15.00 Time: From: 1:00 PM to 2:30 PM 160 Portal Ln Sedona. 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         32    Average: 17.7  (New Listings; Back on Market)
Under Contract:     29    Average: 21.6  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     12     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               9     Average:  5.9  (Canceled; Expired; Temporary Off Market)

Price Reductions:      13     Average   9.2
Price Increases:           2     Average    0.7 

Contract Ratio:  41.70. The average over the last year is 31.10.

The Average Price per Square Foot of homes that are Under Contract was $274.27 per square foot. The yearly moving average is $257.82 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $247.18 per square foot.

A burst of new listings, mainly in the Village, attracted by the active market, but 29 going under coontract shows there isn't any real sign of things slowing down. Another indicater of real estate activity, year to date, there have been 164 closed sales of Residential vacant lots. The previous 12 months was 121.

The Bureau of Labor Statistics reported that Nonfarm payrolls rose 103,000 in March with the unemployment rate remaining at 4.1%. Although the weather made the jobs market uncertain, the number was lower than Wall Street expectations.

The Labor Department announced that the manufacturing sector added 22,000 jobs in March bringing its 12-month gain to 232,000 jobs. Most of the gains are from durable goods manufacturing. Business services also showed strongly, up 33,000 in March after increases in hiring by insurance, securities and commodities companies.

The stock market was very volatile, while in Treasuries, the yield on the benchmark 10-year Treasury note fell to 2.77%, and the yield on the 30-year Treasury bond fell 3.02% by the end of the week.

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. March 31, 2018.

The Sedona International Film Festival is presenting the next Met Live Opera presentation of Wolfgang Amadeus Mozart’s “Così fan tutte” on Saturday, March 31, at the Mary D Fisher Theater. Go early as Ed Ingraham will lead a pre-opera talk one hour before each production (9 a.m. for the morning show and 3 p.m. for the encore). $25 general admission; $22 film festival members; $15 students. Time: 10 a.m. and 4 p.m.

Enjoy an intimate dinner and be entertained by Esteban, the only person with 8 classical Spanish guitar albums to reach Billboard’s #1! Watch his fingers fly as he performs in the Sound Bites Grill Celebrity Show Room. Show only: $59 & $89. Dinner & Show: $149 Time: From: 7:00 PM to 9:00 PM.

Celebrate Spring with inflatable toys for kids, face painting, carnival rides and much more is included with the $5 admission fee for the youth attendees. Some vendors may be charging for their goods. The official egg hunt will begin at 10:00 a.m. for children 12 years of age and younger (parents will only be allowed to search with age group 2 and under). Children will be divided by age groups and there are over 21,000 eggs waiting to be found at Posse Grounds Park. Admission: $5 kids 12 & under. Time: From: 9:00 AM to 2:00 PM 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         19    Average: 17.5  (New Listings; Back on Market)
Under Contract:     29    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               4     Average:  5.8  (Canceled; Expired; Temporary Off Market)

Price Reductions:       6     Average   9.3
Price Increases:          0     Average    0.7 

Contract Ratio:  43.40. The average over the last year is 31.10.

The Average Price per Square Foot of homes that are Under Contract was $265.05 per square foot. The yearly moving average is $257.14 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $247.02 per square foot.
So 19 new listings is met with 29 under contract.

The market continues apace. I am told that Appraisers, in order to stay with this fast moving market, are taking the last 4 months statistics to do their appraisals, rather than the usual 6 months. They are making a "demand adjustment" given the shortage of inventory. 

The Labor Department announced that Initial Claims for state unemployment benefits dropped 12,000 to a seasonally adjusted 215,000 for the week ended March 24. This is the lowest level since January 1973. The number for the previous week was revised to show 2,000 fewer claims received. This suggests that the economy remains strong despite signs of a slowdown in the first quarter.

The Commerce Department announced that U.S. consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased 0.2% in February, a similar gain to January. 

The yield on the benchmark 10-year Treasury note fell to below 2.75% percent on Thursday, This is the lowest level since February 6th, as volayility and a sell-off in equity markets prompted investors to seek safe haven. The yield on the 30-year Treasury bond was lower at 2.97%.

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

Sean Baguley. 

Information in the post is drawn from the Sedona Verde Valley Association of Realtors Multiple Listing Service and other public sources believed to be reliable. Any opinions expressed are solely those of the author and in no way reflect the views of BloomTree Realty.   

Weekly Update. March 24, 2018.

Irish singing sensation Michael Londra leads a cast of Riverdance and Lord of the Dance alumni backed by some of Ireland’s finest musicians. Celtic Fire is a cultural celebration where traditional Irish music, dance and song combine for a remarkable evening. From: 7:00 PM to 9:00 PM Sedona Performing Arts Center, 995 Upper Red Rock Loop Rd Sedona.

10th Annual March-a-Mile for Meals, benefiting Meals-on-Wheels for Verde Valley. Entrants should be prepared to walk a distance of a little less than 2 miles (round trip). Please contact the Senior Center or Christine Hotchkiss (928-634-545) for more information and pledge forms, donations and sponsorship information. 500 E Cherry Cottonwood.

Steps to Recovery Homes focuses on addiction and helps put lives and families back together. Please join us to support our cause and help us to help our community with these issues. Here is an interesting interview with our Cottonwood Mayor, Tim Elinski, about Steps to Recovery Homes’ services: Admission: $60 From: 5:00 PM to 9:00 PM at the Hilton Sedona Resort 90 Ridge Trail Dr Sedona in the Village. 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:          9    Average: 17.5  (New Listings; Back on Market)
Under Contract:      8    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average:  9.2  (Sold; Closed Escrow) 
Off Market:              3     Average:  5.9  (Canceled; Expired; Temporary Off Market)

Price Reductions:       4     Average   9.4
Price Increases:           0     Average    0.7 

Contract Ratio:  38.20. The average over the last year is 30.90.

The Average Price per Square Foot of homes that are Under Contract was $271.13 per square foot. The yearly moving average is $256.65 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $246.69 per square foot.  

Federal Reserve Chairman Jerome Powell is definitely different from his predecessors. In his first official meeting as head of the central bank, he intimated that they woud focus more on the data rather than theory or projections. He also spoke for a very much shorter time than reporters have become used to, and commentators believe that he will be more hawkish on rates. The Federal Reserve said Wednesday that it sees the federal funds rate at 2.1% by the end of 2018. This is unchanged from its December forecast, but it raised its 2019 projection to 2.9%, a rise from the estimate given in December.

The yield on the benchmark 10-year Treasury note dropped by the largest amount in six months on Thursday following fears that a global trade war could lead the economy into recession. The 10-year Treasury yield fell more than 8 basis points to 2.82%. This was the largest one-day decline since September of last year. It went as low as 2.79% at one stage.

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. March 17, 2018.

Happy St. Patrick's Day.

Celebrate St. Patrick’s Day in Irish style when John Freeman performs his show of traditional and popular Irish songs at the Mary D. Fisher Theatre on Saturday, March 17 at 7:30 p.m. $15 general admission; $13 film festival members. 2030 W State Route 89A, Sedona.

Have a day of fun at Oak Creek Arts and Crafts Show. Over 50 of the finest artist from the Southwest and beyond, as well as live entertainment. Shows offer homemade treats, local teas, coffees, and an outdoor patio with beautiful views serving the best food, wine, and craft beer. Sedona Vista Village in the VOC.

The Sedona International Film Festival is proud to present the Northern Arizona premiere of “A Fantastic Woman” showing March 16-22 at the Mary D. Fisher Theatre. “A Fantastic Woman” won the Academy Award for Best Foreign Language Film and was nominated for the Golden Globe Award for Best Foreign Language Film.

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: 17.7  (New Listings; Back on Market)
Under Contract:     30    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     10     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               7     Average:  5.9  (Canceled; Expired; Temporary Off Market)

Price Reductions:      10     Average   9.6
Price Increases:           2     Average    0.7 

Contract Ratio:  42.00. The average over the last year is 31.00. The ratio continues upwards, and the number of homes going under contract excedes new listings. Agents are experiencing multiple offers in a number of cases.

The Average Price per Square Foot of homes that are Under Contract was $270.37 per square foot. The yearly moving average is $256.18 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $246.11 per square foot. 

The University of Michigan's mid-month report on consumer attitudes rose to 102 in March, its highest level since 2004. The previous month was 99.9. Consumers are concentrating on positive economic news and the have a positive outlook with regard to personal finances.

US Government bond yiels rose to a nine-year high in front of next week's Federal Open Market Committee meeting as the market anticipates that the Federal Reserve will raise rates, again. The yield on the 2-year Treasury note rose to a high of 2.30%, the highest level since September 2008, when the yield was 2.31%. The yield curve steepened as longer dated bond yields stayed lower reflecting softer economic data. The yield on the benchmark 10-year Treasury note was higher at 2.85%, and the yield on the 30-year Treasury bond rose 3.08%.

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. March 10, 2018.

Bird enthusiasts can join a naturalist for a guided walk appropriate for beginner and advanced birders. No reservations necessary. The Audubon Society has designated Red Rock State Park as part of the Lower Oak Creek Important Birding Area (IBA) because of the many species that live or visit here. Please meet up with the leader on the viewing deck above the Visitor Center. Admission is $7 per adult (14+) and $4 per youth (7-13) and they're open from 8:00 AM to 10:00 AM.

In the Village of Oak Creek, at the Sedona Vista Village, is the Oak Creek Arts and Crafts Show. Over 50 of the finest artist from the Southwest and beyond, as well as live entertainment. Shows offer homemade treats, local teas, coffees, and an outdoor patio with beautiful views serving the best food, wine, and craft beer. Admission is free and they're open from 9:00 AM to 5:00 PM.

Guitarist JJ Sansaverino is an incredible performer. He has a “take no prisoners” performance attitude and his musical style, is a mix of R&B, smooth jazz and fusion ala Santana meets Benson. He will be at Soundbites Grill to entertain you. Admission is $25-$85 from 7:00 PM to 9:00 PM.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         32    Average: 17.6  (New Listings; Back on Market)
Under Contract:     33    Average: 21.4  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average:  9.1  (Sold; Closed Escrow) 
Off Market:            5     Average:  5.9  (Canceled; Expired; Temporary Off Market)

Price Reductions:      10     Average   9.6
Price Increases:           1     Average    0.7 

Contract Ratio:  40.70. The average over the last year is 30.90. 

The Average Price per Square Foot of homes that are Under Contract was $272.75 per square foot. The yearly moving average is $255.81 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $245.77 per square foot. 

So, a 5 home jump in available listings is matched by an 8 home jump in homes under contract. If the market's not hot, then it is certainly warm. 

The Labor Department announced that the economy added 313,000 jobs in February. The unemployment rate remained at 4.1% meaning there were 95 million Americans still sitting on the sidelines. According to the government's household survey, the labor force increased by 806,000 allowing the labor force participation rate to reach 63%, the highest since September 2003. 653,000 people are no longer counted as being out of the labor force  The total counted as "employed" in the household survey increased by 785,000 to a record 155.2 million. A different unemployment measure, U-6 that takes into account those out of the workforce and the underemployed, remained steady at 8.2%. 

The jobs market continues to defy expectations, and seems to run contrary to the opinions of economists and officials at the Federal Reserve, who pronounce the U.S. at "full employment". This report seems to show that there is still plenty of room for growth, and the markets reacted accordingly with equities up and bonds down.

After the jobs report, U.S. government debt yields increased. The yield on the 2-year Treasury rose to 2.29% reaching the high of February 28th. The yield on the benchmark 10-year Treasury note rose to 2.89%, and the yield on the 30-year Treasury bond increased to 3.16%. 

The Dow Jones industrial average rose 440.53 points to close at 25,335.74. Notably, the DJI closed above its 50-day moving average, an important matter for technical analysts. The S&P 500 rose to close at 2,786.57, with financials as the best-performing sector. It also closed above its 50-day moving average.

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. March 3, 2018.

Enjoy a visit with a beautiful Arizona Bald Eagle from Liberty Wildlife's educational program at The Verde Canyon Railroad Depot at 300 North Broadway Calrkdale. This event is subject to change based on volunteer availability and weather conditions, but normally runs from 12:00 AM to 5:00 PM.

If you love our Sedona hiking trails, The US Forest Service is asking you to volunteer and come out and help with trail maintenance on the Huckaby and Munds Wagon trails this coming Saturday, March 10. You can meet at the Huckaby trail head at 8:20 a.m. The safety talk will begin at 8:30 a.m. and maintenance will end arond 12:30 p.m. You need to bring, a long sleeve shirt and long pants; sturdy, closed-toe shoes or boots; ring sunscreen; water and snacks. Hard hats will be provided, but bring a bike helmet or hard had if you have one. You will be invited to join us for a pizza party at Sedona Pizza afterward. If you're interested, please RSVP by Monday, March 5, 2018.

Verde Valley School, an international high school in Sedona, will be holding its second annual, non-competitive 5K fun run on March 3rd, beginning and ending on the school campus. Runners of all levels are welcome to enjoy the stunning red rock scenery of Coconino National Forest. The race starts at 9:00am. Pre-registered runners should arrive before 8:45am, and non-registered before 8:30am. Delicious home baked muffins and juices as well as a free tshirt are included. 

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         27    Average: 17.4  (New Listings; Back on Market)
Under Contract:     25    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      11     Average:  9.1  (Sold; Closed Escrow) 
Off Market:                6     Average:  5.9  (Canceled; Expired; Temporary Off Market)

Price Reductions:      10     Average   9.5
Price Increases:           1     Average    0.7 

Contract Ratio:  37.10. The average over the last year is 30.70. 

The Average Price per Square Foot of homes that are Under Contract was $269.41 per square foot. The yearly moving average is $255.35 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $245.43 per square foot.

The University of Michigan's Consumer Sentiment Index fell slightly at the end the month, but, given the high mid-month reading, only fell slightly to 99.7 over the whole of February. The index was at 99.9 in February 2017, the second highest level since 2004.

On the basis that "Trade Wars" lead to higher inflation, resulting from higher material prices and probable retaliation, U.S. government debt yields rose Friday following the President's announcement on tariffs. The yield on the benchmark 10-year Treasury note rose 6 basis points to 2.87%, and the yield on the 30-year Treasury bond was also up 6 basis points at 3.14%.

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. February 24, 2018.

The Emerson Theater Collaborative presents The Mountaintop, a play by American playwright Katori Hall, which is a fictional depiction of the Reverend Martin Luther King Jr.'s last night on earth. $25 General Adm and $20 Seniors and Students from: 7:00 PM to 8:30 PM at The Collective Sedona's Vista Hall, 7000 SR 179 Ste C-200 in the Village.

Performer, composer and Windham Hill favorite Sean Harkness brings his guitar mastery back to Arizona for an evening of powerful, evocative music. Tickets from $25 from: 7:00 PM to 9:00 PMat the  Old Town Center for the Arts, 633 N. Fifth Street Cottonwood.

American Kestrel populations are declining throughout their North American range. Join the International Raptor & Falconry Center (IRFC) for the installation of a new kestrel nest box. This box, along with thousands of others across the country, will be used to investigate population declines. There will be a formal presentation followed by a guided bird walk. Please call 928-282-6907 to reserve. Admission, Included with park admission is $7 per adult (14+) and $4 per youth (7-13). From: 10:00 AM to 12:00 PM at 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:         17    Average: 17.4  (New Listings; Back on Market)
Under Contract:     23    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average:  9.1  (Sold; Closed Escrow) 
Off Market:               5     Average:  6.1  (Canceled; Expired; Temporary Off Market)

Price Reductions:      10     Average   9.5
Price Increases:           0     Average    0.7 

Contract Ratio:  37.60. The average over the last year is 30.60. 

The Average Price per Square Foot of homes that are Under Contract was $264.58 per square foot. The yearly moving average is $254.94 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $244.85 per square foot.

The Federal Reserve released a report to Congress on the state of the economy that sees conditions for further interest rate increases. They report that we have an economy that may be past full employment, financial market prices are high, overall growth continues to gather steam, and inflation pressures remain fairly muted for now. The new Chairman Jerome Powell will present the report in congressional testimony on Tuesday.

Following the Fed's Report, U.S. government debt yields fell. The yield on the benchmark 10-year Treasury note, which hit a four-year high of 2.95% earlier in the week, was down around 2.87%.The 30-year Treasury bond yield was down at about 3.16%. The two-year Treasury note yield, which hit a 2008 high earlier in the week, was also lower.

The Labor Department announced that the number of Americans filing for unemployment benefits fell unexpectedly to a near 45-year low last week. However, because of The Presidents Day holiday, claims from six states were estimated. Initial claims for state unemployment benefits dropped 7,000 to a seasonally adjusted 222,000 for the week ended February 17.

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. February 17, 2018.

Today, from 12:00 PM to 2:30 PM at Vino Di Sedona, you can 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 to participate and admission is $30.

The Sedona International Film Festival is presenting the Northern Arizona premieres of The 2018 Oscar Documentary Shorts Programs February 16-22 at the Mary D. Fisher Theatre.

The Sedona Red RockAppella Sweet Adelines chorus presents its annual show, "Winter Romance", at The Sedona Hub at 2 and 5 p.m. The popular show will also feature several barbershop-style quartets and the Orpheum Jazz Trio from Flagstaff.

Red Rock State Park has been a destination for Native Americans for several millennia. Most of the ancient features found in the park are from the Sinagua culture dating about 1100 to 1425 AD. Come and hear the fascinating story of the pre-Columbian people who lived and traveled in the park. The hike will last about two hours, with an elevation gain of about 250 feet, along easy to moderate trails. Admission, included with park admission is $7 per adult (14+) and $4 per youth (7-13) and happens between 1:00 PM to 3:30 PM. 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: 17.3  (New Listings; Back on Market)
Under Contract:     20    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average:  9.0  (Sold; Closed Escrow) 
Off Market:               5     Average:  6.1  (Canceled; Expired; Temporary Off Market)

Price Reductions:      10     Average   9.5
Price Increases:            0     Average    0.7 

Contract Ratio:  37.30. The average over the last year is 30.40. The market appears to be quite hot right now. Decent homes at decent prices go very quickly.

The Average Price per Square Foot of homes that are Under Contract was $262.00 per square foot. The yearly moving average is $254.57 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $243.38 per square foot.

The Labor Department announced that import prices jumped 1.0% in January along with an upward revision of 0.2% in December. The January rise was higher than market expectations and was attributed to the price of imported petroleum and other goods. This may lead to higher inflation in the coming months.

The Labor Department also announced that the number of Americans filing for unemployment benefits increased. Initial claims for state unemployment benefits rose 7,000 to a seasonally adjusted 230,000 for the week ended February 10th. Claims for the previous week were revised up by 2,000 more applications. Claims had fallen to 216,000 in mid-January, the lowest level since January 1973. Last week was the 154th straight week that claims remained below 300,000.

Despite the news on import prices and unemployment, U.S. government debt yields recovered slightly. On Thursday, yields rose to new highs, the 10-year Treasury up to 2.94%, a four-year high. On Friday, the yield on the benchmark 10-year Treasury retreated to around 2.87%. The yield on the 30-year Treasury bond fell to 3.13%. The yield on the 2-year note was around 2.19%.

The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) showed that Builder confidence was unchanged at 72 in February from January. The index was at 65 in February 2017 and reached a high of 74 in December 2017, following the passage of the Republican tax cut plan. A number above 50 is considered positive.

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. February 13, 2018.

The Sedona Yoga Festival 2018, a consciousness eveolution conference, begins this week.

The Sedona International Film Festival is showing The 2018 Oscar Nominated Shorts Programs February 9 to 14 at the Mary D. Fisher Theatre. They also have the next Met Live Opera presentation of Gaetano Donizetti’s “L’Elisir d’Amore” on Saturday, Feb. 10. There will be two shows that day at the Mary D. Fisher Theatre, 10 a.m. for the live simulcast and 4 p.m. for an encore. 

On the music scene, DJ Shondra Jepperson will by hosting a 60's themed dance with refreshments, games, and fun to help celebrate the Sedona Arts Center's 60th Anniversary. Make sure to wear your 60's threads. Also Arizona Music Hall of Fame icon, Walt Richardson brings his amazing reggae rock show to Sound Bites Grill, with special friends Gigi Gonaway (Whitney Houston, Steve Winwood, Aretha Franklin), Drew Hall (Cheektones), and more.  

Real Estate Information - Sedona Single Family Residential Homes ONLY.

All the Averages are for 1 year.

This week's numbers are,

New Listings:         19    Average: 17.4  (New Listings; Back on Market)
Under Contract:     27    Average: 21.1  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       5     Average:  9.0  (Sold; Closed Escrow) 
Off Market:              3     Average:  6.1  (Canceled; Expired; Temporary Off Market)

Price Reductions:       9     Average   9.4
Price Increases:          0     Average    0.7 

Contract Ratio:  33.30. The average over the last year is 30.20. The "season" is off to a great start with 27 homes under contract and no apparent wave of new listings.

The Average Price per Square Foot of homes that are Under Contract was $264.45 per square foot. The yearly moving average is $254.11 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $244.96 per square foot.

The Dow Jones industrial average rebounded more than 300 points Friday, cutting back on previous serious losses, resulting in the worst week in two years. The Dow Jones industrial average swung more than 1,000 points during the day's volatile trading. Market commentators postulated that the panic was due to fears of rising interest rates. The Dow and the S&P 500 both lost 5.2% on the week, while the Nasdaq shed 5.1%.

U.S. government debt yields increased to near four-year highs during the week on various central bank comments and more strong jobs data, even though equity investors sometimes look to Treasuries as a safe haven. On Thursday, the 10-year yield nearly surpassed a 4-year high of 2.885%, while the 30-year bond yield reached a high of 3.168%, the highest March 15. On Friday, the yield on the benchmark 10-year Treasury note was largely unchanged at around 2.835%, and the yield on the 30-year Treasury bond was around 3.134%.

The Labor Department announced that the number of Americans filing for unemployment benefits fell unexpectedly last week, down to the lowest level in nearly 45 years. Initial claims for state unemployment benefits fell 9,000 to a seasonally adjusted 221,000 for the week ended Feb. 3.hursday. Claims fell to 216,000 in mid-January, which was the lowest level since January 1973.

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.