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HomeBarbara Baker, Sedona Arizona

Barbara Baker, Sedona Arizona

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National Market Indicators from here in the Sedona AZ Real Estate Market

10-01-08
Barbara Baker, Sedona Arizona

Dear All: Since we are in such hard economic times - I thought I would send this Market Focus along to you . This information was provided to me by a wonderful local lender - who is one smart cookie- Linda Rogers of First Metropolitan - 928-203-0695. I thought it would be helpful for you to see some stats about our economy. As far as the local Sedona AZ market is concerned - it continues and will continue for some time to be a great time to buy. If you are thinking of buying - let's work together to get you the best deal. I pride myself on my negotiating skills and will work diligently on your behalf. If you are a seller who needs to sell - the pricing is key to the whole transaction. There are buyer's out there - but it needs to be priced below... yes, below the market to sell. It's not going to get better anytime in the next 12 months so if you need to sell.. price it to sell. If you can hang on till 2010 - then take it off the market. If you are a seller who is facing financial ruin - please call me. I have worked with clients with short sales and foreclosures. If you would like to stay in your home - and can't make the payments - believe me - the bank will work it out with you - the last thing that they want is your home. They have plenty! Every time a bank forecloses on a property - it costs them an additional $50,000 - $75,000. You will need to show hardship - but they will work the deal. As always, I am at your service whenever you need me - please call or email me at barbara@barbarabaker.com or 928-301-0669.

Best regards,

Barbara Baker - REMAX Sedona

Monday, September 29, 2008 - 2:30 pm MST

Personal income increased 0.5% in August while consumer spending remained unchanged. Over the past year, both have increased a moderate 4.6%. Nevertheless, spending has slowed significantly, enough so that there is a potential it will decline this quarter for the first time since Q4 1991. A closely watched inflation gauge contained in this data series, the core PCE price deflator, increased 0.2% on the month and was up 2.6% on the year, somewhat elevated but moderate enough to keep inflation fears at bay.

Stocks came crashing down Monday, when the House defeated the $700 billion bailout bill, given the acronym TARP which stood for Troubled Asset Relief Program. It would be rousing if the House voted down the bill on issues like disclosure, transparency or pricing of the remaining mortgage-backed securities in question, but it was seemingly voter pressure not to rescue the banking giants that in their minds were responsible for the credit crisis anyway. It remains unclear what the next step will be. The Dow dropped 777.68 to close at 10365.45. the NASDAQ fell 199.61 to 1983.73.

MARKETS

CLOSING

CHANGE

DJIA

10365.45

-777.68

S&P500

1106.42

-106.59

RUSSELL 2000

657.72

-47.07

NASDAQ

1983.73

-199.61

SECTORS - GAINERS & LOSERS

n/a

n/a

Steel

-16.84%

Treasury prices soared Monday on speculation that the credit crisis and economy would worsen significantly from here upon the Houses failure to pass the bank-rescue plan. The flight to safety bid was robust as money flowed out of the stock market today. In late trading the 10-year note was up 1-30/32 to 103-6/32 to yield 3.61%.

SECURITY

YIELD

CHANGE

2-Year Note

1.70

-0.40

5-Year Note

2.72

-0.33

10-Year Note

3.61

-0.24

30-Year Treasury Bond

4.15

-0.22

As the growth outlook diminishes, rate cut expectations have increased. Rejection of the bank bailout bill today increases uncertainty about the resumption of credit flows, which will also weigh on growth prospects going forward. Fed funds futures traders were pricing in a 100% probability the Fed will cut by 25 basis points when they meet at the end of October, up from 50/50 odds just one week ago.

For the week ending 9/25/08

RATE

LATEST

CHANGE

FEES

30-Yr Fixed (FHLMC)

6.09

0.31

0.7

15-Yr Fixed (FHLMC)

5.77

0.42

0.6

1-Yr Adj (FHLMC)

5.16

0.13

0.5

3-Mo Libor (FNMA)

3.88

0.12

n/a

RATE

LATEST

CHANGE

Fed Funds

2.00

0.00

Prime Rate

5.00

0.00

Fed Discount

2.25

0.00

11th District COF

2.698

0.00

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SEDONA AZ REAL ESTATE MARKET CONTINUES TO ADJUST DOWNWARDS

09-16-08
Barbara Baker, Sedona Arizona

Things continue to shake out and shake down around the US economy - it doesn't spell a great time to sell. Having said that... if you are a Sedona, AZ seller who has equity - price the place to sell, sell, sell!!!! It has to be ahead of the market - so that when a buyer see's the pricing - they JUMP and RUN TO THE OPPORTUNITY. This is no time to play it safe!

If you are a buyer -looking in the Sedona Real Estate Market, or the Cottonwood, AZ Real Estate Market...if you are a real buyer - who lives, and breathes and actually has money or has financing... can I ask??? WHAT ARE YOU WAITING FOR? The listings, the opportunities, the seller's motiviation ( and in some instances - seller's panic) is a perfect time for you. Work with an agent who can negotiate an offer - and who will represent your interests. Put the offer in- it's up to the seller's and the seller's agent to negotiate it up!

So here are the Sedona AZ Home Real Estate Stats as of September 1st, 2008

# of Solds :147 (down 25% from same time 2007). Median Sold Price - $490,000 (down 18% from same time 2007) and interesting down 3% from July 1st 2008.

I would be more than happy to work with you to buy a home, a piece of sedona history, a vacant land, a commercial property. I would be more than happy to work with Sedona AZ seller's who don't know what to do with the pricing of their property. I can be reached at barbara@barbarabaker.com , or 800-975-5943. Go make some money! Now is the time! Best, Barbara B.

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What the Gov. Take of Fannie and Freddie means to the Housing Industry

09-11-08
Barbara Baker, Sedona Arizona

This document was provdied courtesy of our local Sedona MLS Board, via the National Association of Realtors.

What the Government Takeover of Fannie Mae and Freddie Mac Means to Housing Industry

In short-term, home sales should improve as mortgage rates fall

Washington, D.C. (September 8, 2008)-The federal government's takeover of secondary mortgage giants Fannie Mae and Freddie Mac should cause a drop in mortgage rates in the short term that benefits home buyers, but the long-term outlook is too early to call. NAR fully supports the action of the U.S. Treasury and the Federal Housing Finance Agency.

The federal government had no choice. The capital situation of the two companies was not enough to handle the fallout from rising mortgage defaults in the near future. In addition, investors who purchase Fannie Mae and Freddie Mac debt have lost confidence in the two.

In a statement, NAR commended the Treasury's action, announced yesterday, to bring stability and continued liquidity to the mortgage market. "The plan will help restore confidence in the secondary mortgage market," said NAR President Richard F. Gaylord. "We appreciate the steps taken to calm the market, make mortgages more widely available and protect taxpayers. We look forward to working with the administration and Congress to ensure the continued vibrancy of the secondary mortgage market."

Summary of what the Treasury actually did and what it means

•· In the takeover, Treasury placed the GSEs into a conservatorship-similar to a Chapter 11 bankruptcy- which fully protects taxpayers from conflicts of interest between taxpayers and shareholders or current management.

•· The federal government is authorized to take up to an 80 percent stake in the companies, will review their financial condition quarterly, and inject money into the operations as needed. That means the market for GSE securities will be treated more like Treasury obligations, which should push mortgage interest rates down. That in turn, is expected to speed up home sales and help stabilize home prices.

•· The GSEs will be allowed to increase their mortgage funding over the next year and a half to help stabilize markets. Starting in 2010, the plan calls for them to reduce their portfolios.

•· The heads of Fannie Mae and Freddie Mac have been relieved of their duties. Treasury selected Herbert Allison, former Merrill Lynch vice chairman, to lead Fannie Mae, and David Moffett, former U.S. Bancorp CFO, to guide Freddie Mac.

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