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Sedona Market Conditions for Febrary 25,2011 -Well priced Sedona homes are being snapped up by ready buyers!

By Beth Larsen

Real Estate Agent with RE/MAX Sedona ADRE#513161000

February 26, 2011 03:48 AM

Sedona home buyers had a good selection of new homes and tempting price reductions to chose from, with brisk activity showing they are taking advantage of these great opportunites all over Sedona and the Verde Valley. Buyers should note that well-priced homes are selling much more quickly these days in the Sedona real estate market - so if you really like that home, don't fool around or you'll miss the boat!

Sedona Market Conditions for Friday, February 25, 2011

If you need help getting to know the Sedona real estate market, send me your criteria and I'll create a Client Portal website for you - there's no better tool for a Sedona home buyer to have in their toolkit!

Beth Larsen, RE/MAX Sedona, www.Move2Sedona.com

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Chris Miller Nevada Land with Water Rights

Vegas Grand Realty and Property Management - Mesquite, NV

Land with Water Rights For Sale

These numbers look like the inventory is growing, good news for future pricing, if you are waiting to buy.

Feb 26, 2011 03:52 AM

Beth Larsen

RE/MAX Sedona - Sedona, AZ

Sedona Arizona

Yes Chris, Sellers are ramping up for Spring market in Sedona, and we've already seen inbound buyer traffic and inquiries increase. No doubt thanks to the harsh weather much of the rest of the nation is experiencing. We in the southwest are lucky in that regard-how are things in Nevada? Hope it's picking up for you too.

Feb 26, 2011 03:59 AM

Li Read

Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC

Caring expertise...knowledge for you!

Hmmm...this is good news. I'm often told that Sedona is very like my area.

Feb 26, 2011 04:22 AM

Hi Li, I wasn't familiar with Salt Spring Island, so I paid a visit to your website. It's obviously lovely there! I can see that it is a vacation destination also. I'm seeing mostly second home and retirement buyers lately, how about you?

Feb 27, 2011 02:43 PM

Anonymous

Geoffrey

If I could get 2/3 of what I paid in 2004 for my 2004 Camp Verde 3/2 I'd be interested in some of these Sedona properties in the $200K range, but finding a buyer is liking finding hens teeth.

Feb 28, 2011 09:21 AM

Pat Haddad, ABR, CRS, ePRO, GRI

Keller Williams Indianapolis Metro NE - Carmel, IN

Carmel, Fishers, Westfield IN Real Estate Expert

Beth--I like your format for your market reports---makes everything clear and concise and easy to understand!

Feb 28, 2011 03:55 PM

Hello Geoffrey, I hear you. This is a really tough time to be a seller, we'd all rather be buyers right now. I'm in the same boat as you...seeing lots of Sedona homes for sale for amazing prices, but I myself am not in a position to buy now. Pity! I am however seeing lots of buyer traffic, and inventories in certain parts of the Verde Valley (and certain price ranges) starting to go down. The outlying areas like Camp Verde will follow, eventually. Does your property have any special "niche" features such as horse property or irrigation rights, by any chance?

Mar 01, 2011 07:18 AM

A first owner 2004 $185K now looking for $128K. I note that lovely Lipton Drive short you still show is sold and/or pending. rather an enticing letdown. I'd love to find a seller over their head (and that applies to many mortgage payers these days) needing to sell their home and move into something half the price, and I'd be willing to trade them my house plus cash to make-up the difference (up to $75K), but even this thinking outside-the-box will get me nowhere in this market. Sigh..

Mar 02, 2011 02:23 AM

Yes, I just submitted a new contract to the bank for the 85 Lipton Dr short sale. Of course, even though it was approved for a different buyer (who had to pull out for family reasons, after a 4 1/2 month approval process), they are making us start all over again. So-keep your eye out, you never know.

As to the creative approach, sadly you are correct. Upside-down sellers are really not in a position to take a trade. If they are not able to pay off the entire mortgage obligation, they are looking at a short sale and a bank would never approve a transaction where part of the consideration was in the form of another property. Their objective is to liquidate.

So-for a trade you would need to find someone who has equity in their property.

Mar 02, 2011 10:12 AM

Yes Beth, your response is pretty obvious, but it is appreciated that you take the time to respond. If the Lipton deal goes bust email me please. I certainly hope we have a better selling year by..2014. (c;

Mar 02, 2011 11:10 PM

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Sedona Market Conditions for Febrary 25,2011 -Well priced Sedona homes are being snapped up by ready buyers!

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