Sedona, AZ

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.

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.

The Real Estate Market remains sluggish as foreclosures and short sales continue to hit the market. Once these distressed properties are absorbed, the market will begin to stabilize.

Month of Januray:

13 Residential Home Sales - Average $386,000

4 Vacant Land Sales

Month of February:

3 Vacant Land Sales

Month of March:

33 Residential Home Sales - Average $614,000

6 Vacant Land Sales

Month of April:

24 Residential Home Sales - Average $595,000

9 Vacant Land Sales

Month of May:

37 Residential Homes Sales - Average $507,000

3 Vacant Land Sales

Month of June:

18 Residential Homes Sales - Average $646,000

5 Vacant Land Sales

Month of July:

17 Residential Home Sales - Average $454,000

Vacant Land Sales 6

Month of August:

Residential Home Sales - Average $444,500

Vacant Land Sales 2

Tell all your friends, neighbors and guests about it. Enjoy festivities day and night all Labor Day weekend at 22nd Annual Moonlight Madness Street Festival & Sidewalk Sales in Sedona Main Street District, beginning Saturday August 30th from noon to 9 p.m. and continuing through Monday, September 1 of Labor Day weekend. This street festival includes a wide variety of live music and entertainment, activities for adults and children, plus sidewalk sales at numerous stores along Hwy. 89A & Hwy. 179 in the Main Street District. The merchants and properties make it all possible and they're getting everything planned and arranged now.

This free community event is presented and coordinated by Sedona Main Street Program and the businesses in the District. Bring the extended family for a special time of fun, food, music, and shopping in your community! Park once and ride the free Roadrunner Shuttle throughout the area.

If you have any questions, call 204-2390 or e-mail info@sedonamainstreet.com

August 23-31 Red Rocks Music Festival Featuring world-class chamber and flamenco music, orchestral performances, master classes and workshops throughout the week. Call 877-733-7257.

The Red Rocks Music Festival educates, engages, and challenges audiences through a unique collaboration of leading Arizona artists and world acclaimed musicians.

History of the Festival

In its inaugural season, on Labor Day 2002, a festival symphony was lead by Maestro Shlomo Mintz, who also played the Mendelssohn violin concerto . Beethoven Symphony Number 7 received a standing ovation. Other performers included pianist Gustavo Romero and "Musica Viva" Director David Ehrlich.

Since then the festival has maintained a high level of performance, which included Elmira Darvarova, first woman co-concertmaster of the New York Metropolitan Orchestra. The 2005 Season marked a collaborative effort with ASU School of Music which included concerts and master classes . Intercultural Journeys lead by Philadelphia Orchestra cellist, Ohad Bar-David, with Native American Flutist R. Carlos Nakai was a huge success with sold out venues.

Following years included artist such as Shmuel Ashkenasi and Marc Johnson of the Vermeer Quartet.

The 2007 6th annual festival offered a variety of events including Quintessence, a woodwind quintet performing a Southwest premier by composer Bill Douglas. The dance side of arts was presented by Tango dances in 2006 and Un Corazon Flamenco in 2007. In addition, two young opera stars, Sarah Heltzel and baritone, Adam Margulies, both received great accolades. The Young Artists performance and master classes has been an integral part of the festival as the festival looks forward to its 7th year. We anticipate continuation of high level performance with artist scheduled to appear such as Shmuel Ashkenasi of the Curtis Institute, Rami Solomonow, viola Professor DePaul University and other distinguished musicians.