Gregg & Debbie Munson

Hello all. As many of you know, there are lots of scams out there. We who are selling Flagstaff real estate are seeing an increase in this activity. The attorney's and many others are adverting that they can do a loan modification and/or prevent a foreclosure. Please read the following carefully and pass it along to anyone you know as it may save someone unnecessary expenses. You can vist my website to stay abreast of the latest: www.GreggMunson.com

There are many "Foreclosure Rescue" scams beginning to surface in light of the government's moves to help prevent foreclosures.

Here are some things to remember:

•1. There is never a fee to get assistance or information about the government's Making Home Affordable program.

•2. Beware of anyone who says they can "save" your home if you sign or transfer over the deed to your house.

•3. Never submit your mortgage payments to anyone other than your mortgage company without their approval.

For more information on how to get help please click:

www.makinghomeaffordable.gov
Beware of Foreclosure Rescue Scams - Help Is Free

FLAGSTAFF MARKET SNAPSHOT MARCH 2009*

Flagstaff Real Estate showed a reflected a slight improvement in March over February with the days on the market decreasing and prices evidencing a slight increase. Overall, single family homes in the city of Flagstaff have held up fairly well considering that prices have declined roughly 15% from the market top. It's still too early in the year to forecast a trend but stay tuned as the next two months should tell the story. On another note, recently, I've been asked why my Market Snapshot only deals with single family homes in the city of Flagstaff and not the total market. To that I will say that most of my clients are purchasing single family homes versus townhomes, condos, manufactures/mobile homes, and land. Also, my market is primarily in the city of Flagstaff. If I were to produce a Market Snapshot that entailed all areas and all types of residential real estate, I feel the report would lack objectivity. Why, because accuracy can only be obtained by comparing similar types of properties, single family as a for instance, and similar areas. Averaging all the types of residential real estate in all of Coconino County can be very misleading. Keep that in mind when you are purchasing a property as it's very possible for properties in one area to be declining in value while increasing (or at least stabilizing) in other areas. I hope this explanation helps. Thanks for reading and keep the comments coming and visit Gregg's Flagstaff Real Estate Blog for regular market info and updates.

Gregg Munson

Associate Broker, ABR, CPDE, e~PRO

*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 effect on valuations.

Hi All: Bloomberg has a excellent video which deals with housing affordability and the real estate market in general. While Flagstaff real estate hasn't been battered nearly as much as the Phoenix Metro area and many other parts of the country, I think the video provides a worthwhile perspective on the real estate market and it's current affordability. I hope you enjoy this short video whether the Flagstaff real estate market or other markets are of interest to you. You can view this video by clicking on the following link: Housing Affordability Index. Thanks in advance for reading and keep the comments coming.

Gregg Munson

Associate Broker, e~PRO, ABR, CDPE

Let's talk about the Flagstaff Real Estate market and buy opportunities for a moment. Of course it makes sense to get a great real estate deal in this market; however, in the Flagstaff real estate market, is the short sale or foreclosure necessarily the best way to go? To that I answer sometimes yes and sometimes no. As it pertains to the short sale, more often than not, the buyer of a short sale property will be waiting months for an answer from the lender. In the meantime, he or she may be missing out on a great interest rate and/or another property which may be as good or better a buy. Often the same applies to the foreclosure. And don't forget this point: Not all short sales or foreclosures are deals. From what I see in Flagstaff, there are just as many properties that are as good or better a buyer than the so called "distressed property". In sum, take some time while searching for the special property and consider location, condition, future resale potential, current interest rates, and other factors which are important to YOU. Remember, the world's best buy on a Flagstaff home that you're not that excited about, is not a deal! Thanks for reading. You're comments are always welcome. Keep visiting us online at www.GreggMunson.com and www.FlagstaffHomesAndLand.com

March 23, 2009 Flagstaff Real Estate Distressed Properties Update: I ran the numbers this AM and as of today, Flagstaff and Northern Arizona have a total of 34 residential MLS lisitngs that are either bank owned or short sale properties. The current MLS total inventory is 1250 listings of which the 34 distressed properties represents 2.72%. I plan on monitoring these numbers on a regular basis and keeping all apprised of the results. These results can be viewed on my websites, www.GreggMunson.com and www.FlagstaffHomesAndLand.com at any time. If you would like a list of properties, please contact me. Also, please feel free to email me your questions or comments. Thank you in advance for your time.