Newsletter -- July 2012
(Old Newsletters)
Sedona Poll of the Month
In our poll for the month of July, we are inquiring how your personal finances have rebounded from the 2008 Economic. We are starting to see signs in the Sedona Real Estate Market of a Rebound, Have you seen a personal rebound too?
Results from June
Should We Allow Vacation
Rentals in Sedona?
We appreciate your feedback on this hot topic within the community of Sedona AZ. An outstanding number of you responded with a YES! This is our Sedona Property and we should be able to do with it what we like! Thanks again for everyone's feedback.
If you have any suggestions for new poll topics, Send Us an Email.
Please Review Us
Service Reviews have become a hot commodity on the web. We can tell future clients how hard we will work for them, but it always comes better from a third party. If you haven't had a chance, please take a moment and let us know how we did. For those of you that have already helped out, thank you once again.
If you have any difficulty, let us know and we can walk you through the process. Thanks again for your time!
365 Reasons to Live in Sedona
Sedona AZ Horse Trails
One reason we love living in Sedona AZ is the various outdoor activities that one can do to take advantage of Sedona’s awe-inspiring countryside – the possibilities are endless!
And although anything outdoors in Sedona is spectacular, riding horse in Red Rock Country is an activity many Sedona residents enjoy. On any given day if you take a drive out on Sedona roads such as Dry Creek, Red Rock Loop or Verde Valley School Road, be prepared for a glimpse of the old west. Horse riders often travel on the shoulder of roads, on their way to some of the many trails in and around Sedona AZ, typically on the outskirts of town...
Click for full article: Sedona AZ Horse Trail.
Sedona Summer Monsoons
We like to say Sedona has well over 300 days of sunshine and a gorgeous climate year-round. Out of four moderate seasons, summer is the most apparent. May begins Sedona’s summer with gorgeous dry-heat weather but it is not until July and August that the true summer weather begins to roll in.
Sedona’s average summer has temperatures in the high 90s – low 100s. Unlike Phoenix and other Arizona desert areas, Sedona’s temperature cools down in the afternoons during Monsoon season (July and August).
Just as you think the Arizona heat is unbearable, dark clouds start to roll in and cover the Red Rocks like a blanket protecting from the unforgiving sun. And after the Monsoon...
Click for full article: Sedona Summer Monsoons.
Buyer & Seller Tips of the Month
Buyers
Buying a Home With
Resale Value In Mind
- Buying a Home With a View
- Living in one of the most beautiful places in the world results in typical buyers wanting a Sedona Home with Red Rock Views. When thinking about the resale value of your Sedona Property, take a look around: What Red Rock Formations and/or desert landscape do you see?
- Bedrooms and Bathrooms
- Our research concludes that most homebuyers begin their search with at least 3 bedrooms & 2 bathrooms. Knowing this, if you are looking to buy a small & cozy home you might have a harder time selling it than if it were at least 3 beds, 2 baths. Ask yourself: Does my Sedona Home have 3 bedrooms or 2 bedrooms and a den that could be used as a bedroom?
- Garages
- Garages add to the resale value of a Sedona Home, especially with the Arizona sun! You should always make sure to get at least a two-car garage.
- The Kitchen
- The most important room of the house is the kitchen. Why? Because family activity centers around the kitchen. Obviously, larger kitchens are better and should be provided with modern appliances. The dining room and breakfast nook should be located adjacent to the kitchen. Newer houses also are structured with the family room close to the kitchen. We find Sedona Homebuyers are attracted to this layout.
Also, from the kitchen, there should be easy access to the back yard, as there will be occasions for barbecues and outdoor entertaining. In addition, it should be a short trek between the garage to the kitchen so hauling groceries in from the car does not become a horrendous chore. - Swimming Pool
- Swimming pools are a double edge sword as they provide enjoyment for the family but they can also be
a mitigating factor upon resale. Buy a home with a pool for your own enjoyment, not as an investment.
Safety issues about families with younger children have become more publicized in the recent years, so families with small children tend to avoid homes with pools. As a result, having a pool may actually reduce the number of potential homebuyers when you try to resell the home.
For more home buying tips visit our Sedona Home Buying Guide on http://SedonaProperty.net.
Sellers
What High Days on the Market Says About Your Sedona Home
As part of our series of discussing the Sedona Real Estate Market Recovery, one of our main focuses is the average days on market (DOM) for a listing. In our opinion, a market recovery occurs when:
- Selling Prices Stabilize
- Overflow of Inventory Declines
- Average Length of Time Needed to Sell a piece of Sedona Real Estate Decreases (DOM Decreases)
This month we looked into the average days on market for Sedona Listings and we see improvements in this key indicator. For our Sellers, we want to add additional insights into what we are seeing as the perception from buyers of stigmatized Sedona Properties with high DOM.
A Sedona Listing with a high number of DOM, without an offer may signify the following:
- The Price is Too High:
- Our Real Estate Market is moving almost entirely to online advertisements. Sedona Real Estate is viewed online numerous times prior to buyers physically previewing the property. What we see is that if a house appears overpriced compared to its competition online, buyers are reluctant to inquire further. The added knowledge that buyers now possess, due to online research, makes it imperative to price your Sedona Property competitively in order to stand out.
- High DOM = Desperate Seller:
- If the Seller has their Sedona Real Estate listed for a lengthy period of time, buyers feel like such listings are prime targets for lowball offers, with a chance to “steal” the property. To avoid the stigma of a high DOM property, consider if you really need to sell or if removing your property from the market, temporarily, is in your best interest.
- High DOM = Something is Wrong with the Premises:
- Buyers feel, whether right or wrong, that if a property has a high DOM somebody should have bought it by now. If the Sedona Property still remains available, the buyers sense that the listing is stale, and that more than likely, something is wrong with the premises. This is an enormous deterrent for most buyers.
Unfortunately a Property with high DOM may suffer from all three of these perceptions. In order to prevent your Sedona Real Estate from becoming stigmatized, take a moment and consider your selling strategy. A price reduction may be in order or a temporary removal from the Sedona Real Estate Market may be the first step to repairing the perceived image of your Sedona Property.
If you would like us to give you a free Comparable Market Analyses (CMA) of your Sedona Property give us a call (928-821-3508) or send us an email. We can help discuss selling strategies and devise a marketing plan that best fits your needs for your sale of Sedona Real Estate.
For more Selling Tips, or ideas to Stage Your Home, visit the Sedona Property Selling Tips on our website.
Feature Sedona Subdivision
Saddlerock Video Tour
Saddlerock Subdivision in West Sedona AZ has larger lots with good to astounding views. Living in the Saddlerock subdivision means you are close to all services in West Sedona.
For more information about Saddlerock Property for sale or Subdivision Details please don’t hesitate to Contact Us at 928-821-3508 or 928-282-4166 ext 253.
Saddlerock Property Listings
Are you ready to move in to this neighborhood? Saddlerock in West Sedona, AZ may be the perfect place for you to relax and enjoy the best our community has to offer! Click here to view a list of:
Featured Properties
1910 Sanborn Drive
A backyard sanctuary with red rock views, trex decking, retractable awning, privacy wall and fenced yard are some of the many special features for this well cared for home. Centrally located in desirable West Sedona this home has had many upgrades throughout the years.
For more features & information on this West Sedona Home please Email Rob & Pam - or give us a call 928.821.3508.
Click for Full Listing80 Regan Drive
Wonderful lot in Village Estates. Area of nice homes. Sewer available. Great affordable lot in the Village of Oak Creek. Call Rob for more details - 928.821.3508 or Email Us.
Click for Full ListingLocal Lender Update
Falling Prices vs. Raising Rates
Potential buyers talk to us about the health of the Sedona Real Estate Market and whether or not we have seen the end of falling prices. Unfortunately we can’t tell with certainty whether prices have stabilized, but we have seen signs in certain subdivisions that a recovery is starting. Our real concern is the potential of rising interest rates.
Interest Rates have steadily trended lower since 2008. Now near historic lows, we can’t expect interest rates to decrease further or to remain at these levels for much longer. We can expect is rates to rebound and to return closer to historical averages. With that being said, rising interest rates are much more detrimental to buyers than continued falling prices. This is demonstrated by the following scenario:
Example:
A buyer purchases a Sedona Home and obtains a conforming mortgage for $300,000 with a rate of 4.5%. What is the difference in the monthly mortgage payment if over the next year, the price for that home slipped and the new mortgage was $270,000 (10% decrease), but the interest rate rose to 5.5%? The answer may surprise you.
NOTE: This scenario is for a principal and interest mortgage payment for a conforming loan amortized over 30 years. Property taxes, Home Owners Insurance and HOA fees are not included in this example. This is not an offer for credit and is for informational purposes only.
Scenario 1 | Scenario 2 | |
$300,000 | Loan Amount | $270,000 |
4.50% | Interest Rate | 5.50% |
$1,520.06/month | Monthly Payment | $1,533.03/month |
With this example in mind, the increase in interest rate affects your buying power more. The monthly payment will be higher (with a higher interest rate) than the higher priced loan amount. Because of this, we want to shift some focus away from the fear of falling prices. While price deflation is still a concern, the much more likely predicament is that interest rates will rise and buyer’s “Buying Power” will be immediately affected. As a result, we recommend that if you are interested in buying Sedona Property, you should search for the help of a good lender to further discuss and to determine if your credit is strong enough to buy Sedona Real Estate at these great values. If you don’t have a lender that you are currently working, give Jonathan Burgueno a call from Pinnacle Mortgage. He is eager to help you find the best buying strategy for you and your next piece of Sedona Real Estate.
If you would like more information contact him at jonathanmtg@gmail.com or (928) 282-3200.
Jonathan Burgueno
Mortgage Advisor MLO 290524
Pinnacle Capital Mortgage
(928) 282-3200
Equal Housing Lender AZBKBR0116852
For more tips & tools, please visit the Lender's Section of our website.
Pam's Recipe of the Month
Pork Tenderloin via Pinterest
Tenderloin Ingredients
- 1⁄2 cups olive oil
- 1⁄3 cup soy sauce
- 1⁄4 cup red wine vinegar
- Juice of 1 lemon
- 1-2 tbsp Worcestershire sauce
- 1-2 tbsp fresh parsley, finely chopped
- 2 tsp dry mustard
- Freshly cracked black pepper, to taste
- 4 cloves garlic, peeled and minced
- 1 1-lb. pork tenderloin (silver skin removed)
Pan Sauce Ingredients
- Pan scrapings from pork tenderloin
- 1/2 cup of chicken broth
- 2-3 tbsp of pork marinade (thoroughly mixed)
- 1-2 tsp butter
Tenderloin Directions
- Combine all marinade ingredients and reserve 2-3 Tbsp.
- Place the pork tenderloin and marinade in a Ziplock bag and let marinate for at least 3-4 hours.
- Preheat oven to 350 degrees.
- In a hot skillet over medium-high heat, sear each side of tenderloin for 2-3 minutes.
- Place in the oven and cook for 30-40 minutes or until the meat has reached 160 degrees.
- Let rest for at least 5 minutes before slicing.
Sauce Directions
- Meanwhile, place the skillet back on the stove over medium heat.
- Add the chicken broth and scrape up all the browned pieces from the bottom of the pan.
- Add the marinade and let it boil down for 2-3 minutes.
- Add the butter and remove from heat stirring until butter has melted.
- Pour over the pork tenderloin.