Sedona Inspired Moves Blog

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Well, it looks like the Sedona Real Estate Market is beginning to stabilize, at least in the under $400,000 price range – which is where most of the action has been happening this year. According to the Sedona Verde Valley Association of Realtors, prices are actually rising in the under $250,000 price range for the month of October and sales have increased overall in all areas of our market.

What’s driving this trend? Most likely the lower interest rates, which are hovering around an unprecedented 4%. Many fortunate bargain hunting Buyers are striking while the iron is hot! These rates won’t last forever and as I write this we are already seeing them increase over the past week.

The Luxury Market (which starts at $750,000), showed a median selling price of $1.5 million in 2007, and is now registering at a cool $920,000 this year so far. Many choices exist in this market segment, and strong negotiations by your Buyer’s Representative can reap great rewards. If you have been shopping in Sedona, but were holding off over the past few years, I’ve got news for you… the iron is hot!

Housing Trends: Bigger Isn’t Better

According to USA Today, the shifting priorities of home owners are calling for a rethinking of floor plans by builders. Disappearing are libraries, formal dining, sitting and media rooms as owners are trending toward less square footage, while spare bedrooms are doubling as home offices.

More efficient space and less formality have always been the preference in Sedona. Our casual lifestyle calls for a more open floor plan with a focus on red rock views and practical outside patios that double as dining and breakfast rooms. Imagine kicking off your red dirt covered hiking shoes and relaxing with a cool iced tea while watching the sunset light up the rocks as your honey throws a fresh one on the grill. Now that’s living!

Posted in Sedona Real Estate News and Trends

This is an article from my most recent newsletter. To view the entire newsletter, click here.

My feng shui topic this month is an ode to Halloween and a Geomancer’s answer to the question: “Are ghosts real”?

Question: I moved into a house that people tell me is haunted. Although I have not seen anything and am not sure I even believe in ghosts, I was wondering what you would do about this? – K.H., Pine Valley, Sedona

Answer: Interesting question, and one I have dealt with many times over the years. My solution would be to look at the land and surrounding environment from a geomantic perspective (an earth-based science of energy and land vitality), before dealing with the structure. Once that area has been addressed and I am sure the land is supporting the occupants, I would look at the home in order to access the energy inside the structure itself.

Most of the time I find that what has been described as a “bad feeling” area of a home is a place where energy residue has built up and become stagnant or stored. Maybe the prior occupants experienced health, emotional or financial problems. This stressful energy stays in the place and builds up over time. It is nothing to be afraid of, but can affect the new occupant’s health and vitality. Traditional feng shui calls this “predecessor chi” and says that one is affected by the former occupants’ energy. This is something to keep in mind especially when you are looking at buying distressed properties. The opposite is true as well. When the prior occupants’ thrived, you will benefit from this uplifted history.

One of my most interesting cases was a consultation at a “Wellness Center” in a major hospital that shared its acupuncture and massage room wall with the morgue! Talk about a “bad feeling” room! I had to explain to the doctors (many not believers in Feng Shui), that it is the same as having a person coughing away in the corner of the O.R. while you were doing open heart surgery. There is nothing wrong with a cold, but you wouldn’t put it together in a room while you are performing surgery. The same goes for a morgue. Nothing wrong with dead bodies, but you don’t put them sharing a wall with someone who is energetically and emotionally “open” having a treatment. Imagine lying there with needles in you while being jolted awake by the sound of the long stainless steel drawer of the morgue slamming shut as a fresh body is deposited on the other side of the wall. Now THAT is creepy!

NOTE TO READERS: Email me your Feng Shui questions in all areas of your life and I will answer them in upcoming editions of my newsletter. Or, feel free to comment on this article.

You can also click here to read my article on The Feng Shui of Home Buying.

Posted in The Feng Shui of it All

This is an article from my most recent newsletter. To view the entire newsletter, click here.

This just in…Some of you savvy readers may have heard the rumors about the halt in foreclosures by major banks such as Bank of America, Chase and Wells Fargo and are wondering how this will affect the real estate market. Well, much of this remains to be discovered nationally, but Arizona shouldn’t suffer much affect as it is not a judicial state and those are the states being affected.

The halting is mainly due to the confusion that has been happening in regard to Deed Transfers and title companies not offering title insurance. There are two types of Deeds, Special Warranty Deed and General Warranty Deed. The General Warranty Deed assures clear title back through a chain of title. The Special Warranty Deed only warrants title through time of current ownership. Many foreclosures were sold and resold on the secondary market and there is question as to who really owns the property, the the original note signer must be found. If they can’t find the original owner, they can’t insure the title.

As we plunge forward into what has historically been Sedona’s most robust real estate market season, we’re seeing single-family home prices still falling as sellers are finally digesting the reality of the market, and making price adjustments to reflect this new real estate market reality. Add to the mix the number of homes sold is showing a hearty increase this year over last: compare the 267 homes sold in the first nine months of 2009 to the 380 homes sold so far this year.

What is the obvious conclusion here? Falling prices plus increase in units sold equals a dynamic market where the buyer is still in control. With interest rates on home loans still hovering in the 4% range, savvy buyers are making the most of this unprecedented real estate market by tying up properties where the best deals can be found – which is in the under $600K range right now. Although I must say, I’ve also been pleasantly surprised on our weekly home tour day to view luxury properties priced 25% lower than they were only a short time ago. So what once would have been listed at $1.5M is now peaking on the market at a realistic $1.2M with a room for negotiation.

You can see my favorite properties on the market right now by visiting Laura’s Picks. These picks are what I consider to be strong buys on the market right now, not my personal listings.

Our vacant land took a snooze in the month of September with only 4 recorded sales and all were under $200K. Total lots sold this year so far is 71 with 60 of those closing for under $200 and only one above $500K – a bank-owned lot in the prestigious Seven Canyons Golf Community.

Posted in Sedona Real Estate News and Trends

This is an article from my most recent newsletter. To view the entire newsletter, click here.

Question: I have had my house on the market for well over a year now with no action. Why won’t my house sell!? – C. M. Sedona, AZ

Answer: In your particular case, I would address the front entrance of your house. As I have seen your home, I noted that there is not a clear, well marked pathway to the front door and a dead tree is clearly visible from the front entrance stoop.

In feng shui, the front entrance is the “mouth of chi” and the area of a home where all good things come to you. If that area is blocked or not clearly marked, the good energy, or chi is not attracted and neither are prospective buyers. The entrance should be clearly marked with a attractive pathway, brightly colored flowers and night lights. The dead tree is a real problem and I suggest you cut it down as soon as possible.

Finally, use your intention when you are creating these simple changes to change the energy of the front entrance and visualize the chi, good energy and qualified buyers walking happily up to your door and in your house ready to buy!

Email me your feng shui questions in all areas of your life and I will answer them in upcoming editions of my newsletter or blog.

You can also click here to read my article on The Feng Shui of Home Buying.

Posted in The Feng Shui of it All

This is an article from my most recent newsletter. To view the entire newsletter, click here.

In Oak Creek Canyon the leaves are starting to show tinges of their final hooray heralding the cooler temperatures of Sedona’s fall, and historically our hottest real estate market. Typically things slow down in the summer months here, but start to heat up again in the fall, and that is exactly what is happening.

Prices have really stabilized since last December, making the current median home selling price about $390,000. I suspect that the market will remain pretty flat for the next year or so, as there are still foreclosures that are keeping that number fixed, although the amount of properties sold shows a robust increase in activity.

Speaking of foreclosures, most of that activity is happening in the lower end market (homes under $500,000). And there have been some real “deals” to be had, as sales show an average price per square foot of well under $200. Even new builds are coming in aggressively to compete with these numbers, giving buyers options that were a mere dream just a few years ago.

Up until this month, foreclosures and “deals” were where most of the real estate activity had been happening, but now we are showing signs of a slowly awakening luxury market. Sellers are getting more realistic in their expectations, and homes are coming on the market at much more realistic prices than I have seen in recent years.

For the foreseeable future, it is likely to remain a strong Buyer’s Market. Demand has always been much stronger here than nationally or even regionally. As long as the foreclosures are still showing up, we should see this quadrant of our real estate market strongly active well into the fall season.

Posted in Sedona Real Estate News and Trends

So what is happening in Sedona lots for sale?  There are real bargains to be had if your dream is to own a piece of Red Rock country for yourself.

Here is the latest market report as of July 2010.  There have been 44 lots total sold in Sedona with only three of those being over $300K and one that sold for $525K last February.  The one that sold for $525 was a Foreclosure in the premier golf community Seven Canyons where lots were going for well over $1M a couple years ago.  Needless to say, there are really great deals i land right now.

you might ask, “where are the deals in Sedona Homes for Sale“?  Definitely the market is showing the best buy for the money in the under $500K price range where we have about a six month supply and hold the majority of our short-sales and REO’s.

In Sedona Luxury Homes For Sale, we are expecting to see the downward pricing trend continue.

Not great news for land sellers, but for the Buyers, two words……..LAND-HO!

Posted in Sedona Real Estate News and Trends

SEDONA REAL ESTATE:

Hi Folks!  Just a quick update on our market here in Sedona to give you an idea of how Sedona is faring the heat.

Interesting to note in the Red Rock news today, the Chamber of Commerce showed an INCREASE in visitors to our lovely home, up 1%, which defied the rest of the state of Arizona who have been hit rather hard by the economy.

The real estate market has remained very strong in the lower end, which is the $300K-$400K range probably due to most of our shortsales and REO’s fall into that category combined with the ultra low interest rates hovering in the 4% range.  It is most definitely still a buyer’s market and looks like it will be for  a while.

I advise my clients that if you are purchasing a home for yourself to live in, plan on holding it for at least 5 years before you see any real appreciation unless you are really stealing it…..which seems to be happening left and right in this price bracket.

Another place we are seeing  some new action is in land sales.  Land w]has been really dead for some time here, and what is moving now is lots under $100K. That’s right you read that correctly….under $100K.  For a town that has less than 1% of its land left to develop, this could prove to be a great investment simply due to the supply and demand. Sedona still has what it always did:  Beauty, amenities, nature, water and low crime.  Winning combo in my book.

LIFESTYLE:

On a more social note I’ll be gallery hopping tonight as it is First Friday Gallery night in Sedona and trying out the new Thai Restaurant opening this weekend.  Sedona has a large and active Arts community and the local galleries have open houses, guest speakers, wine and tastings every first Friday of the month.

I welcome any comments or questions on Sedona Real Estate, Sedona Living or Feng Shui at www.SedonaInspiredMoves.com or Laura@cbsedona.com

Posted in Sedona Real Estate News and Trends