About Yavapai County, AZ

Here in Northern Arizona an average real estate transaction still means a Seller wants to sell a home by finding a ready, willing and able Buyer to purchase said home at an agreed upon price.

No waiting 3 months or more for a bank to give approval, or purchasing a home without any disclosures because the bank has taken back the property or going "online" to bid on the property.

Less than 10%* of our Multiple Listing Service Area (Residential properties) consists of short sales listings, foreclosure or HUD Homes.

I would invite you to come and see the inventory of homes in the Prescott Area.

*As of Febraury 6, 2009.

The big news in the Sedona Real Estate Market for 2008 is Foreclosures! In fact, for the entire Sedona Area, there were 2,860 foreclosures - up by 500% from a low of 525 in 2005. The entire area is being hit very hard by foreclosures - for they pull the median sold price downward! And lenders are really slashing these homes to get them off the books. 65% of the homes being foreclosed upon are non-owner occupied. In Sedona specific - The number of Solds fell from 254 in 2007 to 229 in 2008 - the lowest number of solds since 1996. The median price of homes fell nearly 20% to a low of $480,000 in 2008. And our luxury market hasn't faired much better. The homes sold over $1 million is down 52% from it's high in 2006.Vacant Land has jumped out of the plane without a parachute - and just keeps going down, down, down, - with the numbers of solds down by 86% from their high in 2005 and the median sale's price is off by 42% from the high of 2006 The good news? The Feds will figure this out.... If not - we will all be living in free housing! So if you are a buyer - get off the fence, buy now- put the offer in - negotiate the deal - but B. U.Y - BUY UP YOU! For a free foreclosure report - visit me on the web at www.barbarabaker.com, or via my cell at 800-975-5943 or via email at barbaraa@barbarabaker.com

Well. There is alot of information to digest. Currently there are 28 homes in Foreclosure in Sedona. Our median Sold price for 08 is $480,000. That figures takes into account the highest sold price and the lowest sold price - it is the median price. That price is down by 16% from 2007. The amount of sold homes from 07 to 08 is down by 11%. However, here is where it gets really interesting... For the first 1/2 of the year - the median sold price was $520,000. That figure dropped by 18% to $450,000 for the second half of the year. And the median Condo price is now $295,000 - down by 16% from 07. It continues to remain a strong buyer's market. Buy Now! Buy Now! Bujy NOW! Next week? Vacant Land and the rest of the Verde Valley.. For all your buying and selling needs - please contact me directly at The barbara@barbarabaker.com or 800-975-5943. For a free foreclosure report from the Verde Valley visit me on the web at www.barbarabaker.com

We subscribe to an e-mail newsletter (eppraisal.com) which recently had an article we thought you'd like to see. They track the market values in 189 towns across the U. S., including Prescott. In their latest report covering the previous 6 months, they showed that most towns were still declining in value, however Prescott appears to have leveled off. You can read the article and see the list by clicking the links below. When you look at the rankings, Prescott is #14, right on the cusp of moving back into increasing value. Click to see the graph for more info.

Read full article.

See a complete list of national rankings.

This info validates how we've been feeling the past couple of months. It seems like we've been busier now than we were during the summer - and this is usually one of the slower times of the year, with holidays, etc. We've had more calls, more web hits, more showings, etc. These things, together with the lowest interest rates in decades, plus the efforts that the government will be putting into place, make us feel encouraged that we are heading out of this difficult time. In past downturns, Prescott has been among the last towns affected and one of the first to recover. The attached ranking list seems to confirm that.