“World's Most Complete Neighborpedia”
Explore:   What's happening in your neck of the woods?

Gregg & Debbie Munson

TAX CREDIT EXTENDED!!

By now I'm sure most of us know that the tax credit has been extended. Will this help Flagstaff Real Estatej-which isn't really suffering that much? In my opinion, the credit should be increased and opened up to everyone. What do you think?

SEPTEMBER FLAGSTAFF REAL ESTATE MARKET REVIEW

Our local Flagstaff Real Estate market remains pretty much the same; i.e. relatively boring. For Septermbert, the average price of homes is down a fraction from August and the median price is unchanged. Again, as it relates to single family housing in the city of Flagstaff, it's time to buy. Let me know what you think. I thank you for reading. Please keep the comments coming and visit Gregg's Blog for regular market info and updates.

Gregg Munson

Associate Broker, ABR, CPDE, e~PRO

CALENDAR YEAR

AVERAGE PRICE

MEDIAN PRICE

AVERAGE DAYS ON MARKET

ANNUAL UNITS SOLD

CUMULATIVE MEDIAN % CHANGE FROM MARKET TOP IN 2006

2006

$458,116

$392,500

91

528

MARKET TOP

2007

$436,511

$375,000

108

479

-4.4%

2008

$417,993

$360,000

120

373

-8.28%

January 2009

$433,500

$387,500

117

14 YTD

-1.27%

February 2009

$367,497

$330,950

132

32 YTD

-15.68%

March 2009

$384,884

$330,500

103

56 YTD

-15.79%

April 2009

$360,456

$326,000

127

79 YTD

-16.94%

May 2009

$370,072

$330,000

129

115 YTD

-15.92%

June 2009

$364,568

$331,000

133

161 YTD

-15.66%

July 2009

$371,298

$331,000

134

207 YTD

-15.66%

August 2009

$374,543

$330,000

140

250 YTD

-15.92%

September 2009

$374,004

$330,000

136

290 YTD

-15.92%

*Criteria: Northern Arizona Multiple Listing Service sold data for City of Flagstaff single family homes. The city is defined as North West City, South West City, North East City, and South East City. Condos, townhomes, multi-family, land and commercial properties are excluded as are outlying areas. The exclusion of outlying areas and well as properties other than single family homes will have an eff

FLAGSTAFF & NATIONAL HOUSING STATS

Another good week for the housing market. The S&P/Case Shiller home price index was up for the third month in a row and the rate of annual decline fell for the sixth month in a row! Price increases were reported in 18 of 20 metro areas measured. Many now feel this data indicates the worst of the price declines are behind us. Time will tell.

GOOGLE EARTH VERSUS MICROSOFT BING FOR PROPERTY SEARCHES

Hi All: I'm hearing a lot of good things about using Microsoft Bing versus Google Virtual Earth for property searches. While neither is perfect, I must admit that, for Flagstaff real esstate, I like Bing better than Google Virtual Earth. If you haven't tried it, do so and let me know your thoughts. Thanks for reading

Gregg Munson

ANOTHER REPORT ANALYZING THE FLAGSTAFF REAL ESTATE MAKRET

Hi All: One of our local title companies prepare the report noted below. As my monthly report only analyzes single family homes in the city of Flagstaff, this report sheds a bit more light on the overall market. Let me know if you find it to be of value and please don't heistate to comment. Thanks.

Coconino County Real Estate Snapshot
AUGUST Average Average Average Days on AUGUST Average Average Average Days on % Diff. Of Previous YTD-09 YTD-08
2009 Square Price per Sales Market 2008 Square Price per Sales Market Monthly Month Total Total
Footage Square Foot Price Footage Square Foot Price Sales Unit
SALES
SINGLE FAMILY SALES
*FLAGSTAFF 67 2214 $173 $382,681 185 70 2032 $202 $409,899 131 -4% 73 393 429
CONDO/TOWNHOMES
*FLAGSTAFF 26 1175 $167 $196,675 108/135 28 1237 $184 $227,550 64/148 -7% 8 138 181
LOT SALES
*FLAGSTAFF 6 n/a n/a $201,750 n/a 7 n/a n/a $130,521 n/a -14% 7 32 49
AUGUST Valuation AUGUST Valuation % Diff. Of Previous YTD-09 YTD-08
2009 2008 Monthly Month Total Total
Sales Unit
BUILDING PERMITS
ISSUED
FLAGSTAFF 1 $362,218 7 $2,258,876 -86% 1 11 45
COCONINO COUNTY 5 $1,190,452 7 $1,821,594 -29% 5 38 39
AUGUST JULY
2009 2009
NOTICES OF TRUSTEE'S
SALES RECORDED
COCONINO COUNTY 104 117