Real Estate Information

Weekly Update. November 16th, 2019.

Today, Saturday, November 16 2019 is Volunteer Trail Work Day to aid the Red Rock District in New Trail Construction. It starts at the Girdner Trailhead at the Cultural Park and you need to sign in and receive a Safety Talk at 8:30 AM. Volunteers must have Work Gloves, Water, Boots, Long Pants, Long Sleeve Shirt, Bike Helmet, Dress for Weather. Post workday refreshments will be provided. Admission is Free. Time: 8:30 AM to 12:00 PM. 89A, turn north on Cultural Park Place (by Yavapai College).

Tomorrow, Sunday, November 17, 2019, The Sedona International Film Festival presents Ballet in Cinema when it hosts the big screen premiere of “Le Corsaire” from the Bolshoi Ballet in Moscow. “Le Corsaire” features music by Adolphe Adam and choreography by Alexei Ratmansky after Marius Petipa. The cast includes the Bolshoi’s principal dancers and soloists, accompanied by the corps de ballet from the Bolshoi. Admission: $15 general admission; $12.50 film festival members. Time: 3:00 PM to 6:00 PM. Mary D. Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. For more information, please call Patrick Schweiss on (928) 282-1177.

On November 28, 2019, there is the Annual Sedona Turkey Trot. This is presented by Sedona Running Company and is a great family activity to attend on Thanksgiving morning. The start and finish line will be held at Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, please call (928) 282-6956.

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: 18.2  (New Listings; Back on Market) 
Under Contract:     19    Average: 21.8  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        21     Average  11.6
Price Increases:             1     Average    0.7 

Contract Ratio:  36.70. The average over the last year is 34.00.
 
The Average Price per Square Foot of homes that are Under Contract was $286.03 per square foot. The yearly moving average is $300.94 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $280.42 per square foot.

The Stock Markets had a good week with all three major indices closing at record all-time highs. The Dow Jones Industrial Average closed the week up at 28,004.89, The S&P 500 up at 3,120.46, and The Nasdaq Composite up at 8,540.83.

US Treasury yields fell on the week as debt prices rose. The 2-Year closed around 1.61%; the 5-year around 1.65%; the 10-Year around 1.84%; the 20-Year around 2.16%, and the 30-Year round 2.31%. A report from the International Institute of Finance stated that global debt rose by $7.5 trillion in the first six months of 2019 to hit a record high of over $250 trillion. The main cause was an increase in borrowings by the U.S. and China.

Two weeks after the central bank lowered its benchmark interest rate for the third time this year, New York Fed President John Williams said that interest rates are at an appropriate level given the pace of economic growth. In his speech, he further suggested that no further moves are likely if current conditions hold up.

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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. November 9th, 2019.

Today, Saturday November 9th, The Sedona International Film Festival has the next Met Live Opera presentation of Giacomo Puccini’s “Madama Butterfly”. There will be two shows, one at 11"00 AM (a live simulcast) and one at 4:00 PM (encore). Anthony Minghella’s vividly cinematic staging returns to cinemas, featuring soprano Hui He in the devastating title role. Pier Giorgio Morandi conducts one of opera’s most beautiful and heartbreaking scores. Admission: $25 general admission; $22 film festival members; $15 students. Mary D Fisher Theatre, 2030 W State Route 89A Ste A3 Sedona. For more information, call Patrick Schweiss on (928) 282-1177.

Monday November 11th, the Sedona Heritage Museum and City of Sedona join to present this annual Veteran’s Day tribute. This event has become the community’s official Veteran’s Day celebration. The day begins with the flag ceremony, dignitaries, 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. Time: 11:00 AM to 1:00 PM. The Sedona Heritage Museum, 735 Jordan Rd, Sedona. For more information, call the Sedona Historical Society on (928) 282-7038.

Wednesday, November 13 2019, OLLI Sedona Community Forum hosts Karen Osburn, Sedona’s Assistant City Manager, and Robert Pickels, Sedona City Attorney will address the recent rapid increase in short-term vacation rentals. Find out when and why this movement took off, the pros and cons, and what the city can do to minimize problems. Learn more about the Sedona city government’s role in overseeing this change in the community. Admission free. Time 12:30 PM to 1:30 PM. Room 34, Yavapai College Sedona Center, 4215 Arts Village Dr. Sedona. For more information, call the Osher Lifelong Learning Institute on (928) 649-4275.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:          7    Average: 18.1  (New Listings; Back on Market) 
Under Contract:     10    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               3     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:         4     Average  11.5
Price Increases:            0     Average    0.7 

Contract Ratio:  34.30. The average over the last year is 33.80.
 
The Average Price per Square Foot of homes that are Under Contract was $290.61 per square foot. The yearly moving average is $302.03 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $281.34 per square foot.

The continuing generous supply of money from the Federal Reserve, and new hopes for a phase one trade agreement with China, plus the outside possibility of the United States-Mexico-Canada (USMCA) trade agreement getting Congressional support, prompted further improvement in the Stock Markets. At the end of the week, The Dow Jones Industrial Average closed the week up at 27,681.24, The S&P 500 up at 3,093.08, and The Nasdaq Composite up at 8,475.31.

The economic influences that created improvement in the Stock markets saw US Treasury yields rise, again. The 2-Year closed around 1.68%; the 5-year around 1.74%; the 10-Year around 1.94%; the 20-Year around 2.27%, and the 30-Year round 2.43%. The inverted yield curve from earlier this year, deemed to be a major indication of a recession, has now been undone.

The Mortgage Bankers Association Market Composite Index, a measure of mortgage loan application volume, decreased 0.1% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1% compared with the previous week. The Refinance Index increased 2% from the previous week. The seasonally adjusted Purchase Index decreased 3% from one week earlier, and the unadjusted Purchase Index decreased 4%.
 
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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. November 2nd, 2019.

November 2nd to 4th, The Sedona International Film Festival is proud to team up with the Jewish Community of Sedona and the Verde Valley to present the Eighth Annual Sedona Jewish Film Festival. The program will feature five award-winning feature films from around the world. Admission: $12 general admission; $9 for film festival members. Check the website for times. Mary D Fisher Theatre, 2030 W State Route 89A, Ste A3, Sedona. For more information, call Patrick Schweiss on (928) 282-1177.

This Sunday, November 3 2019, learn The Rich Natural History of Red Rock State Park. State Parks are educational oases for anyone interested in nature. Our discussion will focus on aspects of botany, geology, and zoology that can be found at Red Rock State Park. Topics treated will range from the majesty of the red rocks to the beauty of riparian-zone trees and flowers to the diversity of animal life. There is a lot to see and enjoy. Ken Bork is a Sedona resident, a paleontologist, and historian of geology. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: 2:00 PM to 3:30 PM. Red Rock State Park Center for Environmental Education, 4050 Red Rock Loop Rd Sedona. For more information, call (928) 282-6907.

Veteran’s Day Tribute. On November 11, 2019 at 11:00 AM, join us in celebrating Sedona's local veterans at this premier tribute at the Sedona Heritage Museum, 735 Jordan Rd, Sedona. or more information, call (928) 282-7038.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         11    Average: 18.3  (New Listings; Back on Market) 
Under Contract:     24    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:     16     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               7     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        22     Average  11.7
Price Increases:             1     Average    0.7 

Contract Ratio:  36.00. The average over the last year is 33.70.
 
The Average Price per Square Foot of homes that are Under Contract was $289.91 per square foot. The yearly moving average is $303.46 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $282.75 per square foot.

The Labor department announced that Nonfarm payrolls increased by 128,000 in October as the U.S. economy continued to create jobs at a pace well above expectations. Despite the reduction 42,000 in the motor vehicles and parts industry, due to the now settled General Motors strike, the pace of new jobs exceeded market estimates. Jobs growth data for September and August was also revised upwards. September’s number was revised up to 180,000 from 136,000, and the August number was revised to 219,000 from 168,000.

The Institute for Supply Management announced that their Manufacturing Purchasing Managers Index rose to 48.3% in October, compared to 47.8% in September. The numbers were negatively impacted by the General Motors strike. A number below 50% represents a contraction in industry.

The positive news on the employment front saw a strong surge in the Stock Markets. At the end of the week, The Dow Jones Industrial Average closed up at 27,347.36, The S&P 500 up at 3,066.91, and The Nasdaq Composite up at 8,386.40.

As is normal in these situations, US Treasury yields also rose after the jobs report. The 2-Year closed around 1.56%; the 5-year around 1.55%; the 10-Year around 1.73%; the 20-Year around 2.03%, and the 30-Year round 2.21%.

The National Association of Realtors® (NAR) announced that its Pending Home Sales Index (PHSI) rose to 108.7 in September from 107.3 in August, a gain of 1.5%. The results were 3.9% higher than in August 2018 and marked the fourth time the index increased in the last five months. The PHSI, a measure of contracts signed for the purchase of existing homes, is a leading indicator of future sales. Contracts are generally expected to become final within one to two months. The PHSI increased by 1.6% in August.

Realogy Holdings Corp. has announced an agreement to create a new real estate benefits program for AARP members. Expected to launch nationally in early 2020, this will be the first-ever real estate services program designed for the nearly 38 million AARP members. The new offering will allow AARP members to earn a cash back reward or bonus, in States where this is allowed, when they buy or sell a home with one of Realogy’s residential real estate brands, including Better Homes and Gardens® Real Estate.

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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. October 26th, 2019.

Fall Open Studios is a free, self-guided event celebrating the arts in the greater Verde Valley. The tour provides a unique opportunity to meet over 50 artists in their private studios, working in a variety of mediums. Maps and informative brochures will be available in a number of locations or at our website. Time 10:00 AM to 5:00 PM. Admission free. For more information, call Mike Upp at (503) 789-4437.

October 31 from 5:00 PM to 8:00 PM is Sedona’s Safe & Fun Trick or Treat Uptown. Merchants welcome ghouls and ghosts at store fronts for treats! Community dance performance, safe environment, lots of fun. A Free event presented by the City of Sedona Parks and Recreation Department. Admission free. For more information, call (928) 282-7098.

November 2, 2019 is the Dia de los Muertos Celebration, which celebrates the Mexican tradition that honors friends and family who have passed on. The celebration culminates with a full day of music, food, fire dancing, and more. Everyone is encouraged to place personal memorabilia on the beautiful altars. There will be fun activities for kids and face painting artists working in motifs. Costumes are strongly encouraged! “El Mercado” will feature traditional Day-of-the-Dead food. Tlaquepaque, 336 State Route 179 Sedona. Admission free. Time: 4:00 PM to 8:00 PM. For more information, call (928) 282-4838.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         25    Average: 18.4  (New Listings; Back on Market) 
Under Contract:     24    Average: 22.0  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               4     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        17     Average  11.5
Price Increases:             0     Average    0.7 

Contract Ratio:  38.20. The average over the last year is 33.50.
 
The Average Price per Square Foot of homes that are Under Contract was $290.02 per square foot. The yearly moving average is $305.13 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $282.61 per square foot.

The U.S. Treasury announced that the federal deficit for fiscal 2019 stood at $984 billion, a 26% increase from 2018.This was the widest gap for seven years, exacerbated by Medicare costs and interest payments on the national debt. Corporate tax revenues totaled $230 billion, a 12% increase, and individual tax revenues were $1.7 trillion, a 2% rise. Federal spending rose 8%, to $4.4 trillion, while Receipts rose 4% to a total of $3.4 trillion. The U.S. government collected nearly $71 billion in customs duties, or tariffs, a 70% increase on the year. The deficit amounted to 4.6% of U.S. economic output, an increase of 0.8%.

A U.S. Trade Representative said that the U.S. and China have made progress in trade discussions and have come close to finalizing parts of a phase one deal.

U.S. government debt yields closed the week at higher levels as concerns about the U.S.-China trade deal, Brexit and other issues faded somewhat. The 2-Year was down around 1.58%; the 5-year down around 1.56%; the 10-Year unchanged around 1.76%; the 20-Year up around 2.06%, and the 30-Year up around 2.25%.

The U.S. stock markets all closed higher on the week. The Dow Jones Industrial Average closed at 26,958.06, The S&P 500 at 3,022.55, and The Nasdaq Composite 8,243.12.

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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. October 19th, 2019.

Pumpkin Splash, today. Bring your bathing suit and join your friends at the best pumpkin patch in Sedona! The Sedona Community Pool will be home to pumpkins ready for the picking… Out of the water that is! This unique event is fun for all ages. There will also be classics and new games for kids on the pool deck to play and compete in. Everyone entering the pool facility, adults and children alike, will get a pumpkin to take home. Admission $5. Time: 1:00 PM to 3:00 PM. Sedona Community Pool, 570 Posse Ground Rd Sedona. For more information, call (928) 282-7098.

Fall Arts & Crafts Show, today at the Sedona Heritage Museum. This show is an old-fashioned arts and crafts show like you remember them to be. All items are hand-made. The artist or craftsman sits behind each table to personally tell you how they make their pieces, where they find their unusual materials or what inspires them. Many of these people do only this show or a very limited number of other shows making their items unusual and uncommon. Admission Free. Time: 9:00 AM to 3:00 PM. Sedona Heritage Museum, 735 Jordan Road, Sedona. For more information, call (928) 282-7038.

Sedona Plein Air Festival. You are invited to get creative and experience over two dozen master painters in action—making their art in Sedona, Arizona. Celebrate creativity with us and enjoy receptions, exhibitions, lectures, and opportunities to collect your next masterpiece at Sedona Plein Air Festival! Sedona Plein Air Festival is a week-long celebration of extraordinary landscapes, world-renowned artists, unique workshops, and wonderful free events. Sedona Arts Center, 15 Art Barn Road Sedona. For more information, call (928) 282-3809.
 
Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         25    Average: 18.4  (New Listings; Back on Market) 
Under Contract:     29    Average: 21.9  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       9     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               9     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        21     Average  11.5
Price Increases:             2     Average    0.7 

Contract Ratio:  37.20. The average over the last year is 33.30.
 
The Average Price per Square Foot of homes that are Under Contract was $291.62 per square foot. The yearly moving average is $307.02 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $280.56 per square foot.

In the midst of the US-China "trade war", China announced the weakest economic growth in nearly thirty years. The second largest economy in the world grew at only 6% in the third quarter.

The U.K. and the European Union appeared to arrive at a final agreement on a deal for Brexit, after nearly three years of discussions following the British vote to leave the EU. British Prime Minister Boris Johnson called a rare Saturday meeting of Parliament in an attempt to persuade U.K. lawmakers to back his agreement. The deal was torpedoed by a last-ditch bid by anti-Brexit MPs, and an amendment passed 322-306 requiring Johnson to apply for a delay to the Oct. 31 departure date, something that Johnson said he would not do.

Federal Reserve Vice Chairman Richard Clarida said Friday said policymakers do not have a preconceived view on the direction of interest rate policy, adding that the central bank would act as appropriate in response to any new data.

The U.S. stock markets were mixed on the week. The Dow Jones Industrial Average closed slightly lower at 26,770.20, while the The S&P 500 at 2,986.20, and The Nasdaq Composite 8,089.54 were marginally higher on the week.

Treasury Bond yields closed slightly lower in the shorter maturities, and slightly higher in the longer maturities. The 2-Year was down around 1.58%; the 5-year down around 1.56%; the 10-Year unchanged around 1.76%; the 20-Year up around 2.06%, and the 30-Year up around 2.25%.

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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. October 12th, 2019.

Reitz Ranch is proud to announce their first annual Women's Woodfiring Workshop. Join your sisters of the flame to fire the Reitz Ranch Train Kiln, while you share and learn from each other with discussions of fire and fun. Participants need to bring bisqued pots for the kiln firing. Heidi Kreitchet and Rena Hamilton will be instructing this three day firing event. No prior wood firing experience necessary, open to all skill levels. This workshop is open to women only. Admission: $310. Time: 8:00 AM to 8:00 PM. Reitz Ranch Center for Ceramic Arts, 2724 Sullivan Ranch Rd Clarkdale.

This Reiki Master Class leads participants into an expansive exploration of the Reiki Master techniques through hands on study and interactive discussion. With an emphasis on intuitive and spiritual development with Reiki, advancing knowledge, and mastery of advanced healing techniques, this powerful class offers healing and transformation on deep levels. Includes time in a Vortex. Pre-Req: Reiki 1 and 2 with any Certified Reiki MT. Led by Certified Reiki MT, Christina Wooten. Admission: $350 until Sept 6, after Sept 6 $444. Time: 9:00 AM to 5:00 PM. Sedona Medium, LLC, 6050 State Route 179, Suite 4 Sedona. For more information, call Christina Wooten on 336-420-2398.

A Three Day Event at the Enchantment Resort with the Most Amazing Energy Workers and Transformational Coaches from Sedona, Scottsdale and from all over the world, Austria, Sweden, and Canada. We will be visiting the Vortex, Upgraded Energy Tools, and much more. You will discover the hidden patterns holding you back, and release them in ceremony. You will learn new energy tools to manifest more abundance in your life and upgrade your vibration. Come join us for this magical event. Time: 9:00 AM to 6:00 PM. The Enchantment Resort, 525 Boynton Canyon Rd Sedona. For more information, call Theresa Sage on 480-424-5555.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         28    Average: 18.1  (New Listings; Back on Market) 
Under Contract:     33    Average: 21.5  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       7     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        21     Average  11.3
Price Increases:             0     Average    0.7 

Contract Ratio:  33.60. The average over the last year is 33.10.
 
The Average Price per Square Foot of homes that are Under Contract was $293.37 per square foot. The yearly moving average is $308.79 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $280.07 per square foot.

The Federal Reserve announced it will be continue overnight funding operations through to next year, contrary to a previous announcement that the repo operation would end on November 4th. The intended Treasury Bill purchases will be in the region of $60 billion in the first month and will cover Bills maturing from 5 to 52 weeks. Chairman Jerome Powell added that the Fed will be expanding the size of its $4 trillion balance sheet through further short-term T-bill purchases.

Comments (a Tweet) from President Trump that talks between the US and China were “very, very good” sent Treasury Bond yields substantially higher. On Friday, the 2-Year closed around 1.63%; the 5-year around 1.59%; the 10-Year around 1.76%; the 20-Year around 2.04%, and the 30-Year around 2.22%.

The comments also produced a rally in U.S. stocks, which finished the week higher with The Dow Jones Industrial Average closing at 26,816.59; The S&P 500 at 2,970.27, and The Nasdaq Composite higher at 8,057.04.

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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. October 5th, 2019.

Wildcat Carnival. October 5, 2019. The event is free to enter, however, tickets will need to be purchased for rides, food & activities. There will be a dunk tank, spinning carnival ride, bouncy houses, inflatable obstacle course, large slide, silent auction, games, face painting, caricature/cartoon artist, music, haunted classroom, pumpkin carving contest, authentic Mexican food & more. Entry - Free. Time from 11:00 AM to 4:00 PM. Posse Grounds Park, 570 Posse Ground Road, Sedona. For more information, call 928-821-8340.

Slide Rock Fall Fest. October 5, 2019. Learn to attract monarch butterflies to gardens, enjoy blacksmithing, & taste delicious honey while learning about bees! Check out Sedona Fire District fire engines, learn about snakes, and visit with US Fish & Wildlife. Tommy Rocks & the Jerome Ukulele Orchestra will perform! Kids can make a scarecrow, create a lavender wand, become a Junior Ranger, & wish Smokey Bear HBD. Time 9:00 AM to 3:00 PM. Entry - $10 per vehicle parking. Slide Rock State Park, 6871 N State Route 89A Sedona. For more information, call 928-282-3034.

Sedona Arts Festival. October 12 - 13, 2019. Held on the campus of Sedona Red Rock High School – A favorite in the Southwest, the festival showcases 126 juried artists, the Gourmet Gallery, an international guest artist, and KidZone, as well as great music, food, and raffle prizes. Admission supports arts education in our community. A Certified Sustainable: Zero Waste Event. Time Saturday, 9 AM to 5 PM, and Sunday, 10 AM to 4 PM. Entry At the gate: $12; Online in advance: $10; Children 12 and under are FREE. Sedona Red Rock High School, 995 Upper Red Rock Loop Rd, Sedona. For more information, call 928-204-9496.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         25    Average: 18.0  (New Listings; Back on Market) 
Under Contract:     28    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      10     Average:  9.2  (Sold; Closed Escrow) 
Off Market:              11     Average:   5.6  (Canceled; Expired; Temporary Off Market)

Price Reductions:        19     Average  11.3
Price Increases:             1     Average    0.7 

Contract Ratio:  28.70. The average over the last year is 33.00.
 
The Average Price per Square Foot of homes that are Under Contract was $293.24 per square foot. The yearly moving average is $310.34 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $280.09 per square foot.

Loretta Mester, president and CEO of the Federal Reserve Bank of Cleveland, was quoted as saying, “Global growth is slowing, trade policy has created uncertainty and tariffs have an impact as well. Those factors really account for some of the slowdown we’ve seen abroad and into the manufacturing sector in the U.S. and also the export side of the U.S. economy.”

The Labor Department announced that the Unemployment Rate fell to 3.5%, a level last seen in December 1969, even as nonfarm payrolls rose by 136,000 and the economy gets closer to full employment. U-6, a measure that includes discouraged workers and the underemployed also fell, falling to 6.9%, the lowest in 19 years and fractionally above the all-time low of 6.8%.

The August U.S. trade deficit widened more than expected to $54.9 billion. Market expectations were for a $54.5 billion gap. Imports rose to $262.8 billion and exports increased to $207.9 billion. Consumer Goods imports rose to $57.2 billion as the US consumer continued to show confidence in the US economy.

After some volatile trading, U.S. stocks finished the week off their early lows. The Dow Jones Industrial Average was lower on the week at 26,573.72; The S&P 500 lower at 2,952.01, and The Nasdaq Composite higher at 7,982.47.

With continuing political and economic uncertainty around the world, the flight to quality saw U.S. government debt yields significantly lower on the week. The 2-Year was around 1.40%; the 5-year around 1.34%; the 10-Year around 1.52%; the 20-Year around 1.81%, and the 30-Year around 2.01%.

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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. September 28th, 2019.

The Sedona Winefest is today and tomorrow from 11:00 AM to 5:00 PM. You're invited to enjoy fabulous Arizona wines, tasty food, music, and vendors galore while enjoying the breathtaking panoramic views of the majestic red rocks. Welcome to the 11th Annual Sedona Winefest in the heart of Sedona. Located at Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, call 928-593-9694.

Follow the Monarch Migration Through Red Rock State Park. Today, join the Southwest Monarch Study for an exciting morning of butterfly netting and tagging. This program is an outdoor event so please be ready to be outdoors. Participants must complete a liability/photo release form that can be downloaded HERE. Space is limited to 15 persons, so please call to reserve your spot. Admission: Included with park admission fee $7 per adult (14+) 4$ per youth (7-13). Time: From: 8:30 AM to 11:00 AM. Red Rock State Park, 4050 Red Rock Loop Rd Sedona. For more information, call 928-282-6907.

Rick Picks The Beatles Concert. This evening, fingerstyle guitar master, Rick Cyge shares your favorites from The Beatles. Voted “Sedona’s Best Musician for 2018 & 2019” in KUDOS Reader’s Choice Awards, Cyge performs all the subtle harmonies and intricate counterpoint of the brilliant music of The Beatles instrumentally on solo acoustic guitar. The evening promises an uplifting and nostalgic journey into shared musical memories of the past. Admission: All tickets $15 in advance; $18 at the door. Time: 7:00 PM to 9:00 PM. Mary D Fisher Theatre, 2030 W State Route 89A, Suite A3, Sedona. For more information, call Patrick Schweiss on 928-282-1177.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         25    Average: 17.9  (New Listings; Back on Market) 
Under Contract:     20    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:      12    Average:  9.2  (Sold; Closed Escrow) 
Off Market:                5     Average:   5.5  (Canceled; Expired; Temporary Off Market)

Price Reductions:        18     Average  11.0
Price Increases:             1     Average    0.7 

Contract Ratio:  26.00. The average over the last year is 33.00.
 
The Average Price per Square Foot of homes that are Under Contract was $294.50 per square foot. The yearly moving average is $311.67 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $280.82 per square foot.

August sales of newly-constructed homes in the U.S. increased 7.1% on a monthly basis to a seasonally-adjusted annual rate of 713,000, the government reported Wednesday. That’s up from a revised rate of 666,000 in July, and is just shy of the 12-year high set in June. Compared with August 2018, new-home sales were up 18%.

The S&P CoreLogic Case-Shiller 20-city price index remained the same in July on a monthly basis after seasonal adjustments. On an annual basis, the index only increased 2% from July 2018, down from 2.1% the month prior. This represents the slowest rate of home-price appreciation since 2012. Between June and July, home prices rose in only 14 of the 20 large cities that the Case-Shiller index tracks, and most of these increases were relatively small.

The National Association of Realtors announced that existing home sales jumped 1.3% in August as falling mortgage rates continued to entice consumers. Existing-home sales occurred at a 5.49 million seasonally-adjusted annual pace in August, up from a 5.42 million rate in July. Market expectations were for a fall to 5.39 million. Existing-home sales increased by 2.6% year-over-year in August.

Gross Domestic Product increased at an unrevised 2.0% rate in the first quarter as the strongest consumer spending in 4-1/2 years offset weak exports and a slower pace of inventory investment. The economy grew at a 3.1% rate in the January-March quarter. It expanded 2.6% in the first half of the year. This included a Business Investment decline of a 1.0% annualized rate in the last quarter, worse than market expectations.

Consumer Spending, which accounts for more than two-thirds of U.S. economic activity, increased by 4.6% rate in the second quarter. This is the largest increase since the fourth quarter of 2014. Consumer Spending is being largely driven by the lowest unemployment rate in nearly 50 years.

U.S. stocks finished the week lower after reports that the White House is considering limits on U.S. investment into China. The Dow Jones Industrial Average closed at 26,820.25; The S&P 500 at 2,961.79, and The Nasdaq Composite at 7,939.63.

U.S. government debt yields were slightly lower on the week, given the impeachment inquiry against President Donald Trump and fluctuating concerns about the U.S. and China trade negotiations. The 2-Year was around 1.63%; the 5-year around 1.56%; the 10-Year around 1.69%; the 20-Year around 1.95%, and the 30-Year around 2.13%.

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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. September 21st, 2019.

This is our 5th Annual Verde Valley School Farm to Table Feast. Each year Verde Valley School hosts a multi course meal & event featuring our beyond organic VVS farm and local chefs, growers, wineries and ranches. We start the meal with farm tours, food and music offering our guests a chance to enjoy the farm, spend time with friends and learn about our unique educational programming, "IB & Dirt!" visit vvsaz.org This year we are partnering with Verde Valley Ideas (see below). Admission: $150.Time: 4:30 PM to 8:00 PM. Verde Valley School Farm, 3511 Verde Valley School Rd Sedona. For more information, call (928) 284-2272, or email kfritz@vvsaz.org.

Verde Valley Ideas is an ideas festival for anyone willing to wonder. Participants are offered three experiences: intimate workshops called Labs, a stage-based program of talks and performances, and a unique Farm to Table Dinner. Come for one or enjoy the whole day. Verde Valley Ideas is born from a movement started by our friends at Chicago Ideas Week. At its heart is a simple belief: when a broad spectrum of thinkers and doers share ideas, we have the power to transform the world. Today. Time: 8:00 AM to 9:00 PM. Verde Valley School, 3511 Verde Valley School Rd Sedona.

St. Andrew’s’ Annual Rummage Sale. Last chance for bargain hunting as an art form at one of the oldest and largest annual rummage sales in the Valley. Clothing (plus a Boutique), Estate Sale antiques & collectibles, kitchenware, bed & bath, small appliances, furniture, patio & outdoor goods, tools, and a Pantry with baked goods, homemade jams, and hot coffee. Estate Sale and Boutique close at noon, when Bargain Bag Blitz ($5 a bag) starts. Today. Admission: Free. Time: 9:00 AM to 2:00 PM. St Andrew's Episcopal Church100 Arroyo Pinon Dr Sedona. For more information, call St. Andrew's Episcopal Church, (928) 282-4457.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         24    Average: 17.8  (New Listings; Back on Market) 
Under Contract:     26    Average: 21.2  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       8     Average:  9.2  (Sold; Closed Escrow) 
Off Market:               5     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:        13     Average  10.9
Price Increases:             1     Average    0.7 

Contract Ratio:  28.80. The average over the last year is 33.10.
 
The Average Price per Square Foot of homes that are Under Contract was $304.07 per square foot. The yearly moving average is $313.05 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $279.79 per square foot.

The Federal Reserve, following its two-day policy meeting, sanctioned a quarter-point interest rate cut by reducing its overnight lending rate to a target range of 1.75% to 2%. The previous reduction was nearly two months ago and was the first cut in 11 years. There were two dissenting votes on the Committee. One, Boston Federal Reserve President Eric Rosengren, said his reasons included that, "very low rates can encourage households and firms to take excessive risks."

The Dow Jones Industrial Average closed at 26,935.07; The S&P 500 at 2,992.09, and The Nasdaq Composite 8,117.67. With a number of important factors influencing investors, and Wall Street now again close to its record highs, Goldman Sachs has pointed out that stock volatility has been 25% higher in October on average since 1928. They are anticipating big price swings in each major stock sector, with technology and health care being the most volatile groups.

Following the decision by Chinese trade officials to cut their trip to the U.S. short, U.S. government debt yields fell. The yield 2-Year was around 1.69%; the 5-Year was around 1.61%; the 10-Year was around 1.74%; the 20-Year was around 1.99%, and the 30-Year was around 2.17%.

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, but not guaranteed. Any opinions expressed are solely those of the author and in no way reflect the views of Better Homes and Gardens Real Estate BloomTree Realty.  

Weekly Update. September 14th, 2019.

Still running until September 15th, The 11th Annual Grand Canyon Celebration of Art is held at Grand Canyon National Park. Visitors will have the opportunity to watch artists paint along the South Rim as they interpret the ever-shifting light and shadow, amazing land forms, and vibrant colors of the canyon. There will also be free artist demonstrations scheduled at various locations at the canyon throughout the week. Admission: Free. Time: 10:00 AM to 7:00 PM. Grand Canyon National Park, S Entrance Rd Grand Canyon Village. For more information, please call Grand Canyon Conservancy on 800-858-2808.

The Sedona WagFest & Fair starts on September 21. 9:00 AM to 12:00 PM. A perfect day out for dogs and their humans. This canine event will feature booths where you can shop and learn from the area’s best dog-related product & service providers. Demonstrations & contests will be scheduled throughout the event. It’s FREE, fun, & family-friendly! For the safety: All dogs must be current on vaccinations, be kept on a leash, handlers must be 18 years and clean up after your dogs. The Posse Grounds Pavillion, 525 Posse Ground Rd Sedona. For more information, please call 928-204-7127.

The Sedona Winefest is on September 28th and 29th, 2019 from 11:00 AM - 5:00 PM. You are invited to enjoy fabulous Arizona wines, tasty food, music, and vendors galore while enjoying the breathtaking panoramic views of the majestic red rocks in the heart of Sedona. Welcome to the 11th Annual Sedona Winefest. Posse Grounds Park, 525 Posse Ground Rd Sedona. For more information, please call 928-593-9694.

Real Estate Information - Sedona Single Family Residential Homes ONLY.

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

New Listings:         21    Average: 17.7  (New Listings; Back on Market) 
Under Contract:     14    Average: 21.3  (Active-Contingency Removal; Pending-Take Backup; Pending) 
Closed Escrow:       6     Average:  9.3  (Sold; Closed Escrow) 
Off Market:               4     Average:   5.4  (Canceled; Expired; Temporary Off Market)

Price Reductions:         9     Average  10.9
Price Increases:            2     Average    0.6 

Contract Ratio:  27.50. The average over the last year is 33.30. 

The Average Price per Square Foot of homes that are Under Contract was $302.51 per square foot. The yearly moving average is $313.94 per square foot. For those homes that Closed Escrow this week, the yearly moving average was $279.36 per square foot.

The University of Michigan Index of consumer sentiment rose to 92 from 89.8 in August as consumers felt more confident about current and future economic conditions. It appears that, while consumers felt more confident, they continue to worry about the impact of tariffs on the economy. The UM current economic conditions index also rose to 106.9 from 105.3.

The Dow Jones Industrial Average rose for the eight day in a row, which it hasn't done for more than a year. The Dow 30 Index close at 27,219.52; the S&P 500 closed at 3,007.39, and the Nasdaq ended the week at 8,176.71.

As talk about the possibility of a recession seem to diminish, the yields on US Treasuries rose to close higher on the week. The 2-Year was around 1.79%; the 5-Year around 1.75%; the 10-Year around 1.90%; the 20-Year around 2.17%, and the 30-Year around 2.37%.

According to Mortgage News Daily, it was not a good week for mortgages, as the average rate on the 30-year fixed is now 20 basis points higher than it was on Monday and 36 basis points higher than its last low on September 4th. That is the biggest short-term jump since the week following the election of President Donald Trump. Despite this set-back, mortgage rates remain historically low.

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, but not guaranteed. 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.