Category Archives: Flagstaff Market News

Price Reduced on Amazing Home Minutes From Downtown Flagstaff

09 Tuesday Jan 2018

Posted by in Featured Flagstaff Listings, Flagstaff Features, Flagstaff Market News, Home Buyer Advice, Home Seller Advice, Living in Flagstaff, Real Estate News

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The amazing home at 2800 W. Hogan has been reduced to $689,000!  This home offers mountain living MINUTES from Downtown Flagstaff in the unique neighborhood of Westridge! Privacy awaits on this fully fenced 4.97 acre lot. This 4 bedroom, 3 bathroom cabin has it all. Entertaining is a breeze with the open floorplan and expansive decks. Move right in as all furnishings are included with the sale. There is ample storage space for all of your outdoor gear. 2 SEPARATE 2 car garages gives room for your cars AND your toys. The downstairs has its own kitchen and can be the perfect mother in law quarters or rental opportunity. It is hard to find a better location than this. Observatory Mesa is literally STEPS from this property. Within minutes you can be Downtown or to Thorpe Park. Take the back way to Snowbowl avoiding lots of traffic. Hike, snowshoe, ski right out your front door! Possibilities are endless here. Give us a call today at (928) 714-0001 so that we can give you a private tour!

And remember if you or someone you know are buying or selling a home, please pass along our number and we will be happy to help!  We are NEVER too busy for your referrals!

 

 

Our first new listing of 2018 and sold with 48 hours!

05 Friday Jan 2018

Posted by in Featured Flagstaff Listings, Flagstaff Market News, Flagstaff Market Trends, Home Buyer Advice, Home Owner Advice, Home Seller Advice, Living in Flagstaff, Real Estate News

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We had multiple offers and sellers accepted an offer within 2 days of listing.  If you have a home you are thinking of selling give us a call at (928) 714-0001.

Monthly Flagstaff Homes Sales Report – November 2017 Flagstaff Homes Sales

27 Wednesday Dec 2017

Posted by in Flagstaff Market News, Flagstaff Market Trends, Home Buyer Advice, Home Seller Advice, Living in Flagstaff, Real Estate News

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Flagstaff area single family homes sales came in strong for November with 63 sales.  This was just off last November’s 69 sales.  The hottest markets continue to be in all ranges under $500,000 and we anticipate a continued hot market as we head into 2018.  Limited inventory will continue into the new year and will keep sellers encouraged with higher prices.  Buyers in this market need to act quickly or they will miss out on the limited opportunities.

There were 5 condos and 20 townhomes sold in November.  Limited condo and townhome listings will keep the sales down in the first quarter of 2018.

While there were some concerns about what the new tax laws might bring to the real estate world, it appears the short-term impact on the housing market in our area will be minimal. Interest rates remain historically low and we have new higher loan limits for 2018.

We will be publishing our 4th quarter newsletter at the end of January and will break down the Flagstaff sales for 2017 and our thoughts for 2018.

Single Family Flagstaff Home Sales – November 2017

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NOTE: ACR = ACTIVE CONTINGENCY REMOVAL, PBK = PENDING TAKING BACKUP. THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS) AS REPORTED IN THE MULTIPLE-LISTING-SERVICE MAINTAINED BY THE NORTHERN ARIZONA ASSOCIATION OF REALTORS.® THE DATA MAY NOT REFLECT ALL SALES (BUT IT SURELY REFLECTS MOST OF THEM).

To buy or sell a Flagstaff home, you need more than the general advice in this blog.  That is where we can help. Contact The Elite Team at RE/MAX Peak Properties – Give us a call at 928-714-0001 or send an email to info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.

Chief Economist, Lawrence Yun Comes to Flagstaff

01 Friday Dec 2017

Posted by in Flagstaff Market News, Home Buyer Advice, Home Owner, Home Owner Advice, Home Seller Advice, National Market News, Real Estate News

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Yesterday the Northern Arizona Association of Realtors® had the pleasure of hosting the National Association of Realtors® chief economist, Lawrence Yun, to Flagstaff.  Dr. Yun gave us an overview of what the Tax Reform could do to real estate sales.  The way the current tax bill reads there are many things that could hurt your real estate investment.  Homeowners may not be able to write off the interest and property taxes on their homes.  There is also a chance that Capital Gains tax will have to be paid unless a seller has lived in the home 5 years or longer.  Currently it is 2 years.  We will all have to wait and see how this all pans out.

Dr. Yun gave us a very positive outlook for the next few years when it comes to real estate on the national and local levels.  We have heard many people and clients say that they fear we are entering into another real estate bubble like we did in the early 2000’s.  Dr. Yun gave a lot of great examples about how the market is so much different now than it was then.  He believes that we are not in a bubble.  A couple reasons why he feels this way is because the lending agencies have been more strict in giving loans, and, therefore, lending to more qualified buyers who are less likely to default.  He also stated that our rate of price increase is very healthy economically compared to before.  In the early 2000’s prices increased way too rapidly.

It was a wonderful presentation and a lot of positive perspective.  You can see his slides by clicking here.

We, of course, are always happy to discuss what is happening in real estate here in Flagstaff and on the national level.  Give us a call and we can grab coffee!

Work for the City of Flagstaff and Want Down Payment Assistance?

28 Tuesday Nov 2017

Posted by in Flagstaff Market News, Home Buyer Advice, Home Owner, Home Owner Advice, Living in Flagstaff, Real Estate News

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The City of Flagstaff has implemented a new program for its employees to help them to purchase a home.  The City of Flagstaff will offer up to $10,000 for eligible city employees to be used for down payment and/or closing costs on the purchase of a home.  These funds are matching funds, so The City will match dollar for dollar what the employee contributes up to $10,000.  There are some eligibility requirements that the employee needs to meet, and there are eligibility requirements for the homes as well.  There are many other details about the program that we would love to share with you.

If you work for the city or know someone who does, please contact us  and we can give you all of the details.  We also recommend calling a great local lender, Erin Moore at Prime Lending who also knows a lot about this program.  Erin and her team can be reached at (928) 864-5846.

Monthly Flagstaff Homes Sales Report – October 2017 Flagstaff Homes Sales

17 Friday Nov 2017

Posted by in Flagstaff Market News, Flagstaff Market Trends, Home Buyer Advice, Home Owner, Home Seller Advice, Living in Flagstaff, National Market News, Real Estate News

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The market for single family homes in October remained strong with 97 sales for the month.  Compare this to the 82 sales in October of 2016 and it is even more impressive. It is also important to note there are now 140 single family homes currently under contract and in escrow. Inventory remains low with less than 75 homes for sale under $400,000.

While interest rates remain historically low, many believe this will be changing in the months to come.  There is also a growing concern with how the proposed new tax legislation, if passed, will affect home ownership.  The National Association of REALTORS® is strongly opposed to The Tax Cut and Jobs Act and has issued a call to action for all its members to reach out to their Senators asking them to reform the plan. It is anticipated that the housing market will react negatively should the changes pass into law.

The average sales price for single family homes for August was $468,040 and the median price was $399,500. The average price per square foot was $209.65.

Due to lack of inventory there were only 3 condo sales for the month.  Townhomes faired a little better with 29 townhome sales in the Flagstaff area for October.

Single Family Flagstaff Home Sales – October 2017

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NOTE: ACR = ACTIVE CONTINGENCY REMOVAL, PBK = PENDING TAKING BACKUP. THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS) AS REPORTED IN THE MULTIPLE-LISTING-SERVICE MAINTAINED BY THE NORTHERN ARIZONA ASSOCIATION OF REALTORS.® THE DATA MAY NOT REFLECT ALL SALES (BUT IT SURELY REFLECTS MOST OF THEM).

To buy or sell a Flagstaff home, you need more than the general advice in this blog.  That is where we can help. Contact The Elite Team at RE/MAX Peak Properties – Give us a call at 928-714-0001 or send an email to info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.

New lower price on this ready to build lot in Mt Elden Foothills!

14 Tuesday Nov 2017

Posted by in Featured Flagstaff Listings, Flagstaff Features, Flagstaff Market News, Home Buyer Advice, Living in Flagstaff, Real Estate News

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certhiaThis buildable lot is located in a cul-de-sac at the base of Mt Elden in the desirable Mt Elden Foothills neighborhood. Come build your dream home and enjoy all the hiking trails in your own backyard! Featured at a new lower price of $142,500. Click here for more details.

Call us at 928-714-0001 or email us at info@bestflagstaffhomes.com

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Price reduction on this Timberline Place condo!

14 Tuesday Nov 2017

Posted by in Featured Flagstaff Listings, Flagstaff Market News, Home Buyer Advice, Living in Flagstaff, Real Estate News

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Price reduction on this move in ready condo in Timberline Place. This two bedroom, two bath split floor plan condo has tons of possibilities.  There is a great open feel to the living area with vaulted ceilings and a gas fire place. The kitchen has lots of cabinets and counter space. Both rooms are a great size and have great storage. A nice patio off the living room and bedroom has great views of Mount Elden. Reserved covered parking spot HOA maintains exterior building & landscaping. Monthly HOA fees include water, trash and internet. With ammenities such as a pool, hot tub, and indoor basketball court, you won’t want to leave home! Now at $215,000!

If you would like to see this property, give us a call at 928-714-0001 or email us at info@bestflagstaffhomes.com.

Price Reduction on a Beautiful Country Club Townhome!

07 Tuesday Nov 2017

Posted by in Featured Flagstaff Listings, Flagstaff Market News, Home Buyer Advice, Living in Flagstaff, Real Estate News

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This Country Club Townhome was just reduced to $265,000.  Great opportunity, don’t miss out, call today at (928) 714-0001 or visit bestflagstaffhomes.com.

Do You Know About Westridge Estates??

03 Friday Nov 2017

Posted by in Featured Flagstaff Listings, Flagstaff Market News, Home Buyer Advice, Living in Flagstaff, Real Estate News

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Mountain living MINUTES from Downtown Flagstaff! A lot of people don’t know about this neighborhood, within Flagstaff city limits, that offers acreage. 2800 W. Hogan Dr is part of the wonderful community of Westridge.  Privacy awaits on this fully fenced 4.97 acre lot. This 4 bedroom, 3 bathroom cabin has it all. Entertaining is a breeze with the open floorplan and expansive decks. Move right in as most furnishings are included with the sale. There is ample storage space for all of your outdoor gear. 2 SEPARATE 2 car garages leaves room for your cars AND your toys. The downstairs has its own kitchenette and can be the perfect mother in law quarters or rental opportunity. It is hard to find a better location than this. Observatory Mesa is literally STEPS from this property. Within minutes you can be Downtown or to Thorpe Park. Thorpe Park offers so many different activities to take advantage.  There is a playground, tennis courts, dog park, disc golf and much more.  Take the back way to Snowbowl avoiding lots of traffic. Hike, snowshoe, or ski right out your front door! Whether you are looking for year round living or a second home, listed at $699,000, the possibilities are endless here.

For a private showing or if you have any questions about Flagstaff Real estate in general please never hesitate to contact us at (928) 714-0001, or email us at info@bestflagstaffhomes.com.

 

 

 

Rare Skyline Estates Home Under $400,000

31 Tuesday Oct 2017

Posted by in Featured Flagstaff Listings, Flagstaff Market News, Home Buyer Advice, Home Maintenance, Living in Flagstaff, Real Estate News

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Believe us when we say 2261 Forest Heights Drive, in prestigious Skyline Estates, will not last long.  Listed at $385,000, this home is priced to sell!  Whether entertaining on the extra large back deck or sitting in peaceful solitude on the enclosed front porch enjoying the gorgeous mountain view, this home is a very special place. This 3 bedroom, 2 full bath home has an open floor plan that showcases the mountain landscape from the family room, kitchen and master bedroom. Charming and inviting with natural landscaping, it needs little maintenance. For the outdoor lovers it is only a couple blocks to the Elden trail system and a 5 minute drive to Buffalo Park. The house exterior was completely repainted in 2012, and a new roof with gutters and pine needle resistant covers along with heat tape was installed by the roofing contractor in October 2013. A 50 gallon hot water heater was installed in July 2015, with a new electric range installed in November 2014.  This home has been so well maintained and is move-in ready.  The home comes with all of the appliances and an extra refrigerator in the garage.  There is also a nice window air conditioning unit that will convey with the sale.  For more pictures and the virtual tour click here.

For a private showing or if you have any questions about Flagstaff Real estate in general, please never hesitate to contact us at (928) 714-0001, or email us at info@bestflagstaffhomes.com.

Monthly Flagstaff Homes Sales Report – September Flagstaff Homes Sales

26 Thursday Oct 2017

Posted by in Flagstaff Market News, Flagstaff Market Trends, Home Buyer Advice, Home Seller Advice, Living in Flagstaff, Real Estate News

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We saw another month of growth in September 2017 in most price ranges.  The largest amount of growth was in the $300,000-$500,000 price ranges with 73 sales in September 2017 compared to 60 in August 2017.  This is significantly up compared to September 2016 where we saw 51 homes sales in the $300,000-$500,000 price ranges.  Continuing the trend, our supply of inventory is very limited up to the $500,000 mark.  We anticipate sales and inventory to slow in the next few months due to historical statistics for this time of year.  There are a good number of Pending-Taking Backup (which means the home has an offer on it but is still in the escrow period and waiting to close out) in September which should show us some good sales numbers next month.

The average sales price for a single family home in Flagstaff for September 2017 was $454,589 which is about $10,000 less than the previous month.  The median sales price went up a bit to $410,000.  The average sales price per square foot was $208.30.

In Flagstaff we saw 11 condo sales and only 22 townhome sales.  The townhome sales are down quite a bit compared to last month.  This is due, however, to the lack of inventory.  Most townhomes are priced in the price range that is selling so if there were more on the market we would see more sales.

See the numbers below for September 2017.

Single Family Flagstaff Home Sales – September 2017

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NOTE: THE DATA REPORTED HERE ARE BASED ON HOME SALES IN THE FLAGSTAFF METRO AREA (THE CITY OF FLAGSTAFF AND IMMEDIATELY SURROUNDING COUNTY AREAS THAT HAVE FLAGSTAFF MAILING ADDRESSES) AS REPORTED IN THE MULTIPLE-LISTING-SERVICE MAINTAINED BY THE NORTHERN ARIZONA ASSOCIATION OF REALTORS.® THE DATA MAY NOT REFLECT ALL SALES (BUT IT SURELY REFLECTS MOST OF THEM).

To buy or sell a Flagstaff home, you need more than the general advice in this blog.  Contact The Elite Team at RE/MAX Peak Properties – Give us a call at 928-714-0001 or send an email to info@bestflagstaffhomes.com for experienced, professional advice on purchasing or selling a home in Flagstaff.

3 bed / 2 baths Condo/Townhouse in Flagstaff for $265,000

18 Wednesday Oct 2017

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4This ground floor, single level, 3 bedroom unit is a rare find in Summit Park Condos. You will find a very spacious living room with ceiling fans for those warmer nights and a gas fireplace for those cooler ones. With a split floor plan the master bedroom is its own oasis, it has an attached bathroom with dual sinks, large walk in closet, a newly tiled shower and a sliding glass door to the covered patio. The large kitchen features brand new appliances, plenty of counter space and cabinet storage galore. You will love the formal dining room with enough space for all your friends and family. This unit is a must see! Visit bestflagstaffhomes.com for a virtual tour.

Move In Ready Condo in Timberline Village

10 Tuesday Oct 2017

Posted by in Featured Flagstaff Listings, Flagstaff Market News, Home Buyer Advice, Real Estate News

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We’ve got a move in ready condo in Timberline Village priced well at $220,000.  This two bedroom, two bathroom home on the upper level has tons of possibilities. There is a great open feel to the living area with vaulted ceilings and a gas fire place. The kitchen has lots of cabinets and counter space. There is a split floor plan for the two bedrooms, and both rooms are a great size and have great storage. A nice patio off the living room and bedroom has great views of Mount Elden. The unit has reserved covered parking and the HOA maintains the exterior building & landscaping. Monthly HOA fees include water, trash and internet. The exterior has just been repainted and looks amazing! No other condo community has the amenities that Timberline has! The community has a pool, hot tub, indoor basketball court and more! Click here to see all of the photos of the unit and the common areas.

Give us a call today at (928) 714-0001 to have a private showing!

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Swiss Manor 4 bedroom home open house

06 Friday Oct 2017

Posted by in Featured Flagstaff Listings, Flagstaff Market News, Flagstaff Weekend Events, Home Buyer Advice, Real Estate News

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Stop by and see this 4 Bedroom, 3 Bath Swiss Manor home.  Listed at $425,000 and hosted by Eric Davis from 1-3 Saturday, October 7th. Learn more at bestflagstaffhomes.com.