Real Estate Information Archive

Cute. Cozy. Charming. Almost 1200 square feet of comfy living await you at 3635 E. Montezuma Ave. Comprised of 3-beds and 2-baths, a spacious living area, kitchen, breakfast nook and interior laundry room. The exterior offers a fenced, grass backyard with a large, covered deck, plus a spacious shed complete with electricity. The home offers some energy saving features also, such as a solar fan in the attic that automatically turns on when the temperature reaches 80-degrees, to disperse the heat of those warm, Arizona summer afternoons, as well as a radiant barrier in the rafters, and the back of the home is south-oriented for a possible solar option. The HVAC has been recently inspected and given a clean bill of health, and the entire home has been recently rodent proofed. All of the above is situated on .21-acres and was built in 2003. To see additional pictures and view the virtual tour, please visit www.3635Montezuma.com

MLS # 518301. Priced at $234,500

Most renters put off buying a home because they think renting is more affordable than buying their own home. But with rents rising across the nation at historic rates, home ownership is becoming the more affordable option. According to a recent Market Outlook Report from Realtor.com, in 2017 rents rose year-over-year in a whopping 78% of counties across the US. These sometimes drastic increases in rent are eating up more of renters’ budgets and often making renting more expensive than purchasing. According to a recent study by Zillow, home ownership has become more affordable than renting in the majority of metro markets across the US. According to the study, the average renter pays nearly 30% of their income towards rent. The average homeowner pays significantly less, with only 15.4% of their income going towards their mortgage. In other words, in many markets, renting compromises nearly twice the income of owning a home.

The Takeaway If you’re renting as a way to save money, it’s time to rethink your strategy. Owning a home is a long-term investment strategy that can help you build your wealth. And with rising rents, it might be the more affordable option as well.

Market Stats Update for December:

SEDONA:

Total Closed Sales: Up 15% from 181 to 209 (over the same time period last year). However, it is down slightly from 215 which we saw last month.

Median Recorded Sales Price: Up 9% from $475K to $519K (over the same time period last year). This is about a 1% gain from this time last month.

Price Per Square Foot: Up 4% from $238 / sq. foot to $248 / sq. foot. No change from this time last month.

Days On Market: Down 8% from 157 to 144 (over this same time period last year).

COTTONWOOD:

Total Closed Sales: Up 4% from 321 to 333 (over this same time period last year). As we saw with Sedona, this figure is also slightly down from the 340 we saw last month.

Median Recorded Sales Price: Up 14% from $197,250 to $225,000 (over this same time period last year). No change from this time last month.

Price Per Square Foot: Up 9% from 131 to 143 (over this same time period last year). No change from this time last month.

Days On Market: This has crept up slightly over this time last year by about 9%, from an average sale taking 110 days last year, to about 117 days current day.

With a continued low inventory driving the prices, we are still in a Seller's market.

If you would like a brief, no obligation Marketing Strategy Review, please feel free to contact us, we are here to help; team is what it takes!

"One Call Gets Us All!"

From our family to yours, we wish you a blessed holiday season and hope that all your holiday wishes come true!

45 Cove Drive, Sedona, AZ 86351

Surveyed in November 2016. Picturesque setting with unique rock shelf to the rear of the lot and outstanding red rock views to the north! A private setting in one of the Village's most outstanding subdivisions -- small, intimate with the red rocks wrapping around it, quiet because it is beyond the flow of traffic, rich in its developed homes.  MLS # 511563.  Offered at $65K.  Please enjoy the virtual tour here:  http://www.tourfactory.com/1684651

New Subdivision Alert - Coming On-Line Soon:

Sedona Ranch on Oak Creek by Dorn Homes

*41 lots

*17 of those 41 are going to be available to have the builder of your choice build your custom home. These lots will range in price from $373K-$750K.

*Lot sizes will range from .73-acre to 6.39-acres

*Floor plans for the houses offered by Dorn Homes will range from 2500-3100 square feet

*Prices for the home / land packages will range from $1.2M to $1.6M

*Gated Community with private roads

*Water Improvement District

*Individual Septic Systems

*Will have a clubhouse for the residents to use

*Designed to compliment the natural beauty of Sedona