About Yavapai County, AZ

For the car buff; BRING YOUR TOYS! 11 CAR GARAGE UNDER THIS HOME! Elegant main level living, absolutely gorgeous home w/views. 2 sided fireplace, luxurious master with fireplace, separate vanities, snail shower, jacuzzi garden tub, built-in ironing board. Gourmet kitchen w/island/breakfast nook w/floor to ceiling bay window. Lower level bedroom/bath/office with separate entrance. 2545 sq. ft. basement w/garage door for the toys, car collection, whatever. Backs to National Forest. TREMENDOUS VALUE At $191/sq.ft.

WHAT IS A SHORT SALE? AND IS IT WORTH IT?THE DEFINITION OF A SHORT SALE 101 - SELLER OWES MORE THAN THE HOUSE IS WORTH AND HIRES A REALTOR TO LIST THE HOUSE AND SOLICIT AN OFFER BASED ON THE CURRENT FAIR MARKET VALUE OF THE HOME. OFFER COMES IN AND SELLER PROVIDES FINANCIAL, OR MEDICAL DOCUMENTATION SHOWING HARDSHIP AND ASKS THE BANK IF THEY WILL TAKE "SHORT" OF WHAT IS OWED ON THE PROPERTY. IT IS UP TO THE BANK WHETHER OR NOT THEY WILL TAKE THE SHORT SALE. THEY SOMETIMES DO, HOWEVER, SOMETIMES THEY DON'T. THE 4 IMOST IMPORTANT CONSIDERATIONS FOR A BUYER IN PURCHASING A SHORT SALE ARE AS FOLLOWS: 1) TIME. MAKE SURE YOU HAVE ALOT OF IT - AND AREN'T IN A HURRY. GREAT FOR THE CASH BUYER. NOT SO GREAT FOR THE BUYER WHO IS DEPENDENT ON AN INTEREST RATE. THIS PROCESS IS NOT FOR THE FAINT OF HEART. FOR IT CAN TAKE ANYWHERE FROM 2 MONTHS TO 6 MONTHS TO GET A SHORT SALE THROUGH. IF YOU AREN'T IN A HURRY - THERE ARE SOME WONDERFUL OPPORTUNITIES. 2) FIND OUT HOW MANY NOTES ARE DUE ON THE PROPERTY. IF THE SELLER IS DEALING WITH ONE LENDER - THOSE SHORTS USUALLY GO THROUGH PRETTY SMOOTHLY. NOTICED I SAID SMOOTH - NOT FAST! IF THERE IS A 2ND LENDER, OR A PRIVATE INVESTOR - THEN IT CAN GET A LITTLE DICEY - FOR THE 2ND USUALLY WILL BE GIVEN MUCH LESS THAN WHAT IS OWED -AND MANY TIMES - THEY WILL REFUSE. THEY WILL DIG IN THEIR HEELS AND ALL THAT TIME HAS BEEN WASTED BY MR. BUYER WHILE OTHER GREAT PROPERTIES HAVE BEEN SOLD1; 3) KNOW WHO IS REPRESENTING MR. SELLER ON THE PROPERTY. THIS IS NOT REAL ESTATE 101 - THIS IS REAL ESTATE 1001. THE LISTING AGENT HAS TO BE A REAL ESTATE PITBULL. HAS TO BE CONSTANLY WORKING, BE ON TOP OF THIS FILE AND THE LENDER'S AND THEIR REPRESENTATIVES. SO MAKE SURE THAT AGENT KNOWS HOW TO GET THESE THINGS THROUGH. AND FINALLY; 4) BE WELL REPRESENTED ON YOUR SIDE. HAVE A GREAT AGENT REPRESENTING YOU WHO UNDERSTAND THIS PROCESS AND CAN CORRECTLY GUIDE YOU IN MAKING THE RIGHT CHOICE. FOR MANY TIMES THE RIGHT CHOICE ON BUYING A SHORT SALE ISN'T THE BEST CHOICE. I CAN BE REACHED ON TWITTER AT SEDONAHOME, FACEBOOK AT BARBARA HOOYMAN BAKER, EMAIL AT BARBARA@BARBARABAKER.COM, ON THE WEB AT WWW.BARBARABAKER.COM AND THE OLD FASHIONED WAY - 928-301-0669. HAPPY BUYING!

WELL, IT'S THAT TIME OF YEAR WHEN GOBLINS AND GHOULS ABOUND. BUT HEY THAT HAS BEEN HAPPENING ALL YEAR IN THE REAL ESTATE MARKET. IN FACT, IT'S BEEN HAPPENING FOR THE LAST 2 YEARS. THERE ARE MORE HOME DEATHS THIS YEAR THAN EVER. HOWEVER, I AM HAPPY TO REPORT THAT THE SEDONA MARKET HAS KEPT IT'S STREAM OF FORECLOSURES IN CHECK. CURRENTLY WE ONLY HAVE 22 FORECLOSED HOMES. OUR HIGH WAS 31 LAST NOVEMBER AND SINCE THEN WE HAVE BEEN HOVERING AROUND 21 TO 22. MANY BUYER'S ASSUME THAT BECAUSE MANY PARTS OF THE SOUTHWEST (MAINLY LAS VEGAS AND PHOENIX) HAVE SUCH A HIGH RATE OF FORECLOSURE THAT SEDONA WOULD FOLLOW. WELL, WHILE THAT MAY BE WISHFUL THINKING - IT HAS PROVEN TO BE ONLY THAT - A WISH. WE HAVE HAD RECORD SALES THIS YEAR - AND ONLY 30% OF OUR VOLUME IS IN FORECLOSURE BUSINESS. WE HAVE RECORD PENDINGS THIS YEAR - NOT SEEN SINCE 05! AND OF THOSE PENDINGS - ONLY 26% REPRESENT FORECLOSURED HOMES. I THINK THE MAIN THING THAT FORECLOSURES HAVE DONE FOR OUR MARKET - IS HELP SELLER'S PRICE THEIR PROPERITES MORE COMPETITIVELY AND REALISTICALLY TO COMPETE. AND THE STATS PROVE THAT. WE ARE HAVING BUYER'S RETURN IN RECORD NUMBERS. AND THE WORD ON CAPITAL HILL (NOW LET'S TALK ABOUT SOME SCAREY CHARACTERS UP THERE) IS THAT THEY WILL BE EXTENDING THE HOME TAX CREDIT. SO ALL IN ALL - DURING THIS GHOULISH SCAREY TIME - DON'T BE AFARID OF THE CLIMBING OFF THE FENCE AND BUYING. I CAN BE REACHED ON TWITTER AT SEDONAHOME, FACEBOOK AT BARBARA HOOYMAN BAKER, EMAIL AT BARBARA@BARBARABAKER.COM, ON THE WEB AT WWW.BARBARABAKER.COM AND THE OLD FASHIONED WAY - 928-301-0669. HAPPY HALLOWEEN!!

Sedona Real Estate Market Overall

The Sedona Real Estate market continues its buying frenzy in the mid to lower price sector. In this past 3rd quarter alone, our sold volume was up by a whopping 62% from last year, with Foreclosures or Short Sale accounting for 41% of that business. Even though Foreclosures and Short Sale represent only 12% of our active market- those segments continue to bring the market down and make the Once "Unreachable" Sedona Real Estate Market - an affordable place to own a home! Prices have come down to 03-04 levels.

The Vacant Land sector continues a downward spiral with the median sold price being $121,000. Compare that with 08 Sold pricing of $318,000 and you can see what opportunities exist. The Foreclosures have also hit this sector with 40% of the sold being a foreclosed property.

In the Luxury Marketplace ($1 Million and Over) there are 90 homes currently on the market with only 14 selling year to date, with a median sold price of $1,600,000. To put this in perspective - it will take 5 years to move the current inventory given the ratio of actives to solds.

The Condo Market has remained relatively consistent with a drop in price of only 2% year over year. With a median sold price of $298,500. Foreclosures represented 11%.

You can now reach me on Face book at Barbara Hooyman Baker, Twitter at Sedonahome, on LinkedIn, or the old fashioned way at 928-301-0669.

Real Estate Workshop

THURSDAY, FEBRUARY 25TH-5:30 PM
1235 E. GURLEY ST-PRESCOTT, AZ. 86303

Presented by

LINDA De FUSCO-KELLER WILLIAMS CHECK REALTY

* TRADE SECRETS-CURRENT MARKET CONDITIONS
* PROVEN TECHNIQUES-ALMOST EVERYONE CAN BUY OR SELL!
* SELL FOR THE MOST MONEY-IN THE LEAST TIME
*Lenders, Title, Inspections, Warranties, and Credit representatives on site

HOR D'VOURS PROVIDED!

RSVP to 928.777.8163 or Defusco@kw.com