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Sedona, AZ Real Estate News

By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
The 13th Annual Sedona Taste will be held at Los Abrigados Resort and Spa. This year's event, hosted by the Boys & Girls Clubs of Northern Arizona, will feature 20 of the area's finest dining establishments as well as a full compliment of wine tasting opportunities from some the area's best vineyards and purveyors. In addition to the smooth and enveloping sounds of Thresa Roberts & the Heart Beats, there will also be a silent auction as well as an appearance by 10 of the Arizona Cardinals cheerleaders. Click here or call 928-282-0122 x 200 for more information.
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
Shakespeare SedonaNow in its 11th season and sponsored by Tlaquepaque, Shakespeare Sedona is once again pleased to offer Northern Arizona the finest in professional classical theater. The Friday, Saturday and Sunday performances will run for three consecutive weekends beginning Friday, June 27. You will howl at the hysterical farce, The Merry Wives of Windsor on Friday, followed by the political thriller, Richard II on Saturday and finally the romantic comedy The Taming of the Shrew, on Sunday. All performances begin at 8 pm. Click here to purchase tickets online or call 1-800-768-9286.
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
HERE ARE SOME NEW STATISTICS ON THE CURRENT REAL ESTATE MARKET IN SEDONA FOR BOTH VACANT LAND AND RESIDENTIAL RESALE.  BE PREPARED... IT AIN'T PRETTY. COMPARING CLOSED TRANSACTIONS FROM JAN-MAY 07 VS JAN-MAY 08.... RESIDENTIAL RESALE - PRICE HAS DROPPED BY 12% VACANT LAND MARKET - PRICE HAS DROPPED BY 14% FOR ANY OTHER REAL ESTATE NEEDS PLEASE FEEL FREE TO CALL OR EMAIL ME AT 800-975-5943 OR BARBARA@BARBARABAKER.COM
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
Street Jam, a "Stomp" Rhythm and Dance Band to Rock Sedona - A Hard Hat Hip Hop Event in the SR179 Gallery District  To transform the jack-hammering, pile-driving cacophony of the Highway 179 construction, and to remind everyone that Sedona is still very much open for business, a group of forward-thinking Gallery Row merchants are bringing the hip, urban sounds of Phoenix-based Street Jam, a global "stomp" rhythm and dance band to Sedona.  Showcasing some of Arizona's best dancers, drummers, gymnasts and martial artists Street Jam is exciting audiences everywhere with their explosive energy and unique style. Decked out in construction overalls and hardhats, performers will rock Tlaquepaque, Gallery Row and Hillside in a heart-pounding tribute to road construction.  Don't miss this rolli...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
Enjoy Memorial Day Rafting Fun on the Verde River Looking for a new adventure over Memorial Day Weekend? Family rafting fun is just minutes away. Get out of the heat and into the water.  Get in a "funyak" - tandem or solo - and have a blast floating down the beautiful Verde River. Sedona Adventure Outfitters and Guides has everything you need from kayak and tube rentals to guided water to wine tours for a memorable outing in high desert country. Stop by the Boathouse across from Basha's or call 928 -204-6440 to book a tour.  Then spend the rest of the day and evening checking out all the stores and wonderful restaurants the area has to offer.
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
Friends and foes of the Barbara Antonsen Memorial Park mobbed the Sedona City Council meeting, filling every seat, standing along the walls and spilling into the reception area on Wednesday, April 9. Council met to consider whether to accept or deny an appeal by nearby homeowners who objected to a conditional use permit granted by the Sedona Planning and Zoning Commission in a 5-2 vote on Dec. 18. With so many in attendance, Mayor Pud Colquitt set rules at the outset, limiting times that the representatives of each faction could present opening positions, rebuttals, re-rebuttals and proclamations for and against the park.  Still, the meeting, which conveyed both the passion of the park's proponents and the serious concern regarding property valuations and quality of life of the homeowne...
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By Chuck Willman, NewHouseUtah.com
(Chuck Willman)
"The Road to Sedona" by John-Morgan*                     I'm on the road everyday. My poor car takes a beating... but such is the life of the real estate agent. Fortunately I live in Arizona where such drives can be a pure pleasure. Apparently I'm not the only one who feels this way. Sherman's Travel came out with a list of the "Top Ten Scenic Drives in the U.S." Number 7 on the list is the "Red Rock Scenic Byway". North of Phoenix and South of Flagstaff is the majestic city of Sedona. This setting has to be experienced as it's a place like no other. Never before have I wanted to drive so slow. Check out the remainder of the list- chances are your favorite drive is there also. ---- Photo by John-Morgan is made available under the Creative Commons copyright. It's use is not an endorseme...
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
I HAVE BEEN TOLD BY MY COLLEGUES IN THE LENDING BUSINESS THAT WITH THE NEW TIGHTENING OF THE FED MONIES - HUD MORTGAGES THAT EXCEED THE NEW LOAN LIMIT OF $417,000 MAY, AND THAT'S THE WORD - MAY REQURE 2 SEPARATE APPRAISALS. ESPECIALLY, IF THE BUYER'S LOAN TO VALUE IS 95% AND IT IS IN A DECLINING MARKET. SEDONA IS IN A DECLINING MARKET.  NOT BECUASE OF OUR BEAUTIFUL WONDERFUL PLACE - BUT SEDONA IS A SMALL PART OF A BIG COUNTY - YAVAPAI - AND THAT COUNTY SITS PRESCOTT, PRESCOTT VALLEY AND DEWEY (ALL ABOUT AN HOUR FROM SEDONA).  BECUASE OF THE FORECLOSURES AND SHORT SALES PRIMARILY IN THAT MARKETPLACE - SEDONA AND OUR SURROUNDING COMMUNIITES ARE IN A DECLINING MARKET.  FOR MORE INFORMATION ON ALL YOUR BUYING AND SELLING NEEDS - PLEASE CALL ME AT 800-975-5943 OR BARBARA@BARBARABAKER.COM
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
IN THE SEDONA MARKET WE ARE STILL IN TROUBLE AND WE ARE IN A MAJOR MAJOR BUYER'S MARKET.  I HAD ONE CLIENT ASK ME IF THE FEDS RECENTLY LOWERING THE INTEREST RATES THIS PAST WEEK WILL HELP OUR MARKET AT ALL?  THE FEDS LOWERING THE INTEREST RATES REALLY HASN'T EFFECTED THE HOME BUYING INTEREST RATES.  SEDONA NEEDS  HELP IIN THE JUMBO LOAN MARKET. SINCE SEDONA HAS AN AVERAGE PRICE POINT OF $510,000 PER HOME.THE FHA LOAN IS AT A CUT OFF POINT OF APPROX $390,000.  SO  ANYONE COMING INTO THE MARKET ABOVE THAT PRICE POINT (IN ORDER TO QUALIFY FOR AN FHA) WOULD HAVE TO BRING A SUBSTANTIAL AMOUNT OF MONEY TO THE TABLE.  NOW GRANTED  A BUYER COULD FINANCE AN AVG SEDONA HOME PRICE WITH A DOWNPAYMENT, A FIRST MORTGAGE AND A HELOC - BUT WITH TIGHTER LENDING PRACTICES - THEY JUST DON'T CUT IT.  THAT ...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
Number of listed homes & condos in all of the Sedona market: 612 (was 635, 180 days ago)Number of homes & condos listed below $400,000: 125 (was 159, 180 days ago) Number of homes listed over $1 million: 137 (was 126, 180 days ago).Median listed price: $646,950. (was $599,450 45 days ago).Number of homes & condos sold year in 2008:  78 (double the pace of Jan - Feb.)Median sales price of all homes and condos sold in 2008 $499,000 (was $453,650 for Jan - Feb. 2008). ______________________________________________________________________________________Number of listed home-sites in all areas of the Sedona market 435 (was 437 - 180 days ago)Number of lots listed below $300,000: 119 (was 95 - 180 days ago)Number of lots listed above $1,000,000:  33 (was 38 - 180 days ago)Median listed price...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
Possible new developments in the city:      Redevelopment of the Windsong Trailer Park.      Phase II of the Hyatt Resort at the "Y" (currently under construction).      A possible expansion of the Sedona Rouge Hotel.      Temporary uses at the Sedona Cultural Park.      The Falls at Oak Creek Condominium Project on Hwy. 179.      A new public parking lot in the Uptown area.      An expansion to both Red Rock High School and the West Sedona School.      A remodel of the New Day Spa building in West Sedona.      A new office and residential and condominium project on Sunset Dr.
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
We recommend that during ongoing construction of Highway 179 visitors coming to Sedona from Phoenix come via Highway 260 (Hwy. 17 exit 287) - proceed west to Hwy. 89A - then north to Sedona.  This will avoid any possible Hwy 179 construction delays.Phase 2 of the reconstruction of Highway 179 is underway.  Phase 2 encompasses the area from Back o'Beyond Road north to the "Y" intersection of Highway 179 and Highway 89A.  The construction will see several new roundabouts added to Hwy. 179 including two new roundabout intersections at the "Y" and at Brewer Road (Burger King).  As part of this construction, a new entrance to the post office has been constructed and in the works is a new bridge crossing Oak Creek.  A temporary construction bridge spanning Oak Creek has already been installed...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
Saturday nights are Art Walk Nights in Jerome.  The 30 participating galleries and studios feature ever changing art, music and other talents.  For information visit http://rs6.net/tn.jsp?e=001dSY8CI_o1rJwOwUhjyGEYYNYkf_77hCdKTZcln3ncPVetbhayJnFxjO0hQRa67CwdKDWqPS9c4IpeyvNopGukrFL8PWGBrx2zopCYlPxKnTBcUcr9bybow==.  Sedona's famous Jazz on the Rocks Festival which used to be a 2 day event has expanded to a 6 day, 25 event festival that features a multi act outdoor jazz fest as well as a myriad of other events spanning a week in late September.  Some of the other events pair jazz with film, food, wine, education, dancing and art.  They strive to use and blend the festival talent in creative ways.  Make sure to purchase tickets early for this annual September event.Sedona has caught on as a...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
Bella Terra On Oak Creek, a proposed 106 lot subdivision, is in foreclosure.  A trustee sale scheduled for April 18th has been postponed in hopes of allowing the current owners to gain new financing.  The land located off the Red Rock Loop Road is really beautiful with excellent views of Cathedral Rock. The City has approved the demolition of the existing Red Rock Lodge, an old 14 unit motel north of Sedona on 89A.  The developers are planning to build a 23 unit lodging facility with 3 residential (affordable housing) units on the site.  Also approved was the demolition of apartments located at 660 Jordan Road to be replaced by a 9 unit condominium subdivision.  Horizon Air, a division of Alaska Airlines, will commence flying twice daily from Flagstaff to LAX.  The initial fare is only ...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
The Red Rock Ranger District celebrated the grand opening of their new multi- million dollar showcase south of the Village of Oak Creek.  After a decade of planning, the new 5,000 sf Red Rock Visitor Contact Center along with a 7,000 sf administration building have opened to the public. The facilities are located approximately one mile south of the Village of Oak Creek.  The new center will not replace the Sedona Chamber's Visitors Center located in Uptown Sedona but may be the first stop for many of the Sedona area's 4,000,000 annual visitors. 
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By Rick Wesselhoff
(Coldwell Banker First Affiliate)
This November there's going to be a Citizens Initiative on the ballot that will directly affect your pocketbook.  This initiative is Article 9, Section 24 - and will prohibit new taxes on the transfer or sale of your home, land, or business.  Typically, once these Transfer Taxes are initiated, the rate can be increased by the state, county or city at will.  This act that we're all voting on will once and for all eliminate the idea that such a tax can be enacted.  This transfer tax that the measure opposes will be anywhere from 1% to 4% of your home's value... so if you're selling your $500k home, then you'll pay anywhere from 5k up to 20k in additional government taxes upon the sale.  If youre against this "Double Taxation" then vote YES this November to protect your home's equity.  Thi...
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By Phil DePasquale
(Sedona Elite Properties Management, Inc.)
The owners of Bella Terra (BySnergy), a controversial "green" residential development in Sedona have asked the bank to postpone the foreclosure in order to allow them to work on a suitable plan.  Bella Terra was planned to be sold at Auction last Friday, April 18th.  The Auction has been rescheduled for May 2nd.  According to the Notice of Trustee Sale, the original balance on the note was $13M.  According to County Records BySnergy (Bella Terra) bought the property for $4.7M in 2002.Bysnergy has endured nany delays in its construction and fights with local environmrntalists.  The permit had allowed the subdivision to operate a wastewater treatment plant near Oak Creek
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
HERE GOES.... IT'S NOT A PRETTY PICTURE... IN FACT THE PICTURE ISN'T EVEN HUNG ON THE WALL! BELOW ARE THE AVERAGE PRICES.  SEDONA - $599,000 - 10 YEAR SUPPLY OF LAND ON THE MARKETVILLAGE OF OAK CREEK (UNINCORPORATED AREA OF SEDONA) PRICE DROP OF 50% - $242,000 - 9 YEAR SUPPLY OF LAND ON THE MARKET COTTONWOOD - IN THE HIGH END FOOTHILLS AREA - 12 YEAR SUPPLY - ONLY 4 SOLD SINCE JAN O7LAKE MONTEZUMA - 14 YEAR SUPPLY OF LAND ON THE MARKET UNDER $100,000.  PRICE ROSE BY 65% TO 65,000 CAMP VERDE - $115,000 - 6 YEAR SUPPLY OF LAND ON THE MARKETCONTINUES TO BE A STRONG, STRONG, STRONG BUYER'S MARKET. FOR ANY OTHER INFORMATION I CAN BE REACHED AT 800-975-5943 OR www.barbarabaker.com or barbara@barbarabaker.com      
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
Here are the current average prices of homes in Sedona and the Verde Valley.Sedona - (Luxury - above $1 million - $1,657,000Sedona - Under $1 miillion - $536,000The Village of Oak Creek - $470,000Cottonwood - $223,000Lake Montezuma - $158,000Camp Verde - $295,000If you need any more information -please feel free to contact me at 800-975-5943 or on the web at www.barbarabaker.com  
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By Barbara Baker, Sedona Arizona
(Barbara Baker Realty - Sedona's Elite Boutique Real Estate Firm)
WELL... HERE IT IS ... THE CONTINUING HARD FACTS ABOUT THE SEDONA MARKET PLACE ALONG WITH THE REST OF THE VERDE VALLEY. THERE IS CURRENTLY A 3 YEAR SUPPLY OF HOMES IN THE SEDONA MARKET.  IN THE LUXURY MARKET THERE IS A 5 YEAR SUPPLY OF HOMES.  IN THE VACANT LAND MARKET (IF YOU ARE A SELLER... I HOPE YOU ARE SITTING DOWN.... IF YOU ARE A BUYER... YOU ARE JUMPING UP AND DOWN) THERE IS A 9 TO 10 YEAR SUPPLY OF VACANT LAND.  THE SEDONA CONDO MARKET FAIRS ALITTLE BETTER AT 18 MONTHS IN SEDONA PROPER - BUT 5 YEARS IN THE VILLAGE OF OAK CREEK. THE HOME MARKETS IN SEDONA'S SURROUNDING COMMUNITIES - COTTONWOOD, CAMP VERDE, LAKE MONTEZUMA CONTINUE TO EXPERIENCE AN 18 MONTH TO A 5 YEAR SUPPLY OF HOMES ON THE MARKET - DEPENDING ON WHERE YOU LIVE.  ALL THROUGHOUT THE VERDE VALLEY THE LAND MARKET CON...
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