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Sedona Real Estate and Sedona Homes for Sale - Shadow Foreclosure Inventory

02-28-11

Is there a shadow inventory of bent up foreclosure homes that will be affecting the Sedona Real Estate and Sedona Homes for Sale Marketplace? Well, I can answer that question in 3 parts. 1) Currently in Sedona - there are 297 active home and only 15% of those homes are foreclosures or short sales, with only 19 homes in the Foreclosure side of that equation. The Sedona Real Estate market has hovered around 23 to 25 foreclosure homes for the last 2 years - so that number is historically low. Now, here is where we are going to through those stats to the wind....2) I know of several Sedona Homes that have been taken back by the bank that have been sitting vacant or with tenants actually living in the homes for up wards of 18 months. Yes, that is 1 1/2 years. So even though the statistics are low - I do believe that we will be seeing more foreclosures hit the Sedona Real Estate and Sedona Homes for Sale Marketplace. It's just a question of when. I think that somewhere the banks believe there is a method to their madness and they along with the FEDS blessings are holding homes in their portfolio and slowly putting them on the market - for fear of flooding the market and having the fragile housing market - which is intricately tied to the economy do a slow leap off of a cliff - instead of a head on collision. And yes, you could say I am a cynic... and lastly; 3) I don't have a crystal ball in regards to the Sedona Real Estate or the Sedona Homes for Sale Marketplace. If I did - I would be sipping wine with my tootsies in blue water somewhere warm. That's my take on it. For all your buying and selling needs in the Sedona Real Estate or Sedona Homes for Sale marketplace you can call or text 928-301-0669, email me, visit my website, link up on linked in, or become a fan of Sedona Real Estate on Face book.

http://www.barbarabaker.com/blog/sedona-real-estate-and-sedona-homes-for-sale-shadow-foreclosure-inventory.html

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Buying a Home in AZ: What to Look for in Neighborhoods and Communities

02-27-11

Barbara Baker, Sedona Arizona

Most prospective homebuyers in the Sedona, West Sedona, Uptown Arizona areas already know that when it comes to purchasing real estate, location is key. It doesn't matter whether you're looking to make a profit on your new home or if you simply want a place that will help you raise your family – the neighborhood you choose to call your own is just as important as those details of square footage, number of bathrooms, and central air.

Choosing a home in AZ based on the quality of the neighborhood is especially important. There are so many diverse and incredible places to live here that you can change your lifestyle simply by moving closer to that hip, urban center or further out, where suburban sprawl or a few acres of your own are calling.

Most people already look at neighborhoods and communities in Sedona when considering a home purchase. In fact, some of the more common considerations include:

School districts
Type of neighborhood (gated, urban, suburban, etc.)
Public transportation options
Access to commuting routes
Proximity to shopping
Proximity to facilities like police, fire, or medical care
Tax rates
Crime rates

However, although these are all very important parts of choosing a neighborhood in the Sedona, West Sedona, Uptown Arizona areas, finding the facts might not be as easy as you hope. For example, things like tax rates can be researched, but you'll also need to look at the future of development in the area. If there's a big plan for condos to go up in your family neighborhood, you might find that the area is gearing for development. This might mean higher tax rates as the community draws in a higher-income crowd. (It might also mean a change in the neighborhood dynamic).

It's also important to consider the different times of day and the year in which you visit your prospective home.

How crowded are the streets during rush hour? On the weekends?
How safe do you feel walking around during the day? What about at night?
How maintained are the parks and streets in the winter? In the summer?
How is the noise level at night or in the morning? Does this change on the weekends?

In order to make the most well-informed decision possible on your new home in Sedona, it's best to ask a trusted real estate professional like Barbara Baker or to talk with current (and past) residents. Not only will you get an insider's view on what the AZ community looks like after hours and in real life, but you might also learn that the people who will become your new neighbors are an enticing draw all on their own.

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Sedona Real Estate Market Statistics

02-24-11

Barbara Baker, Sedona Arizona

Well the buyer's are back in droves in the Sedona Real Estate Market and are buying Sedona AZ Homes for Sale - like crazy. In fact when you look over the most recent stats from 2010 - the amount of homes sold in 2010 is higher than the amount sold in 2006. That is great for our seller's. However, the median sold price does continue it's constant march downward with the median sold price for the Sedona Real Estate Market currently at $358,000. That price is down by 10% when comparing it to 2009. The sold median price per square foot is at $167.00 which is down from 2009's price per square foot of $182.00. That amount is staggering since we haven't seen that kind of pricing since 2003 - 7 years ago. Another interesting fact in the Sedona Real Estate and Sedona AZ Homes for Sale Market Stat is that the amount of foreclosures and short sales that have SOLD has gone up by 3% in 2010. And those same distressed properties account for 62% of our current pen dings. Our active inventory is down and distressed properties only make up 14% of that inventory. As we all know, it is a great time to buy across the market and the Sedona Real Estate and Sedona AZ Homes for Sale market place is no different. For all your buying and selling needs you can call or text me at 928-301-0669, email me, visit my website, become a fan of the Sedona Real Estate Fan Page on Face book.

http://www.barbarabaker.com/blog/sedona-real-estate-market-statistics.html

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More Borrowers underwater on mortgages will affect Sedona Homes for Sale

02-14-11

Barbara Baker, Sedona Arizona

Well, CNN Money just came out with the following newswire - "More Borrowers Underwater on Mortgages". This in itself will continue to affect the home values in Sedona Homes for sale pulling the market downward even more. The article goes on to say, that with home prices still dropping in some areas during the last three months of 2010, more home owners are now finding themselves underwater on their mortgage, according to Zillow.com quarterly survey. Twenty-seven percent of home owners with mortgages nationwide owe more than what their homes are valued--a 23.2 percent increase from just one quarter earlier. Underwater mortgages often lead to foreclosure and higher foreclosure rates likely will soon follow, Stan Humphries, chief economist at Zillow, told CNNMoney. So even though Sedona Homes for sale historically doesn't have a high percentage of foreclosures - those foreclosure continue to pull the market downward and will continue to do so for some time.

For all your buying and selling needs in the Sedona Homes for Sale marketplace, you can call or text me at 928-301-0669, email me, visit my website, and follow all the newest listings on my Sedona Homes for Sale Fan page on Facebook.

http://www.barbarabaker.com/trackback/more-borrowers-underwater-on-mortgages-will-affect-sedona-homes-for-sale.html

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Upcoming Financial indicators to look for this Week that may affect Sedona Real Estate

02-10-11

Barbara Baker, Sedona Arizona

Upcoming Financial indicators to look for this Week that may affect Sedona Real Estate

There were some financial indicators from last week that could impact anyone buying a home especially a second home in the Sedona Real Estate market. They are as follows: Last week was not a happy one for folks who need a mortgage. Mortgage rates were as much as .25% higher than they were at the beginning of the week.

The reasons include a big stock market rally, and very strong data including productivity and factory orders. These factors eclipsed the disappointing jobs number. Remember that in an economic recovery jobs are always (unfortunately) the LAST area to recover. And if we don't have jobs - we don't have money to buy houses...This week will be dominated by Treasury auctions. Also, Ben Bernanke testifies before a less than friendly House Budget Committee on Wednesday afternoon.

Hold on tight!

For all your Sedona Real Estate needs you can phone or text me at 928-301-0669, email me, visit mywebsite, or become a fan of Sedona homes for sale on Facebook.