This time of year we reflect on all the things we are grateful for. We at The Elite Team could not be more appreciative for all of our amazing clients! Thank you for your continued business and support.
If you are interested in buying or selling, feel free to contact us via email at email@example.com or call us @928-714-0001.
Halloween does not scare us away from selling homes. While inventory in Flagstaff below $450,000 is a bit frightful, Jessica and Eric are here to help. They will help take the “fear” out of buying or selling your next home. Here is an interesting Haunted House article talking about some interesting experiences REALTORS across the country have encountered. Hope you enjoy!
The Elite Team at RE/MAX Peak Properties is delighted to welcome agents from Coldwell Banker NARICO to RE/MAX. For several years now, the owners of the two companies have been working on a vision to merge Coldwell Banker NARICO and RE/MAX Peak Properties, which have been the two most successful real estate brokerages in Flagstaff. The vision became a reality in March 2015 when Coldwell Banker NARICO merged into RE/MAX Peak Properties.
Coldwell Banker NARICO was the oldest brokerage in Flagstaff, going back to the 1960s. RE/MAX Peak Properties has been the top-selling residential brokerage in Flagstaff for the past ten years and has consistently been voted “Best of Flagstaff” for real estate sales and service.
RE/MAX Peak Properties will operate two offices in town. One from its previously existing location at the historic Koch House at 717 W. Riordan Road (where we of the Elite Team office) and a branch office at the former Coldwell Banker NARICO location at 1120 W. University in the Woodlands Village commercial area.
Beautiful Linwood Heights home was sold yesterday — 39 days after it was listed on the Northern Arizona MLS
Linwood Estates Home
This four bedroom, three bath Flagstaff home features an amazing great room with fabulous views of the San Francisco Peaks. The photos and virtual tour were fabulous. (I say that to compliment my photographer – and because it’s true). So, it’s not too surprising that we had offers to deal with before I had time to blog about this great Flagstaff home.
Linwood Heights, where the home is located, is a unique Flagstaff community at the northwest urban/rural interface within the City of Flagstaff with all city services. Linwood Heights HOA maintains a private, fenced park with ramadas for owner use only and access to National Forest land. The home itself sits on 1.89 private acres.
So, throw away the rule book that says you can’t sell homes over $600,000 in Flagstaff. I’ve just done two in the last 45 days.
August home sales in Flagstaff continued a steady pace from June and July. A definite upturn from 2012.
As I wrote in a quick Flagstaff home sales preview last week, Flagstaff home sales were up 22% in August compared with August 2012. They would have been higher if we’d had more to sell. June, July and August all saw over 90 Flagstaff single-family home sales close. That’s significantly better than last year, when sales each month were in the seventies.
The median price was up 21.7%, largely because inventory was only up 5% from 2012. Median price of a single-family home sold in Flagstaff in August was $322,500 – about $158 per square foot on the average sale. Median sale price for a Flagstaff townhome was $255, 315.
As you can see in the price range chart, it’s a seller’s market in all price ranges up to $500,000. (That means fewer than six months’ worth of homes are for sale in each of those price ranges if the August pace of sales continues.) September is typically a better month for closings in Flagstaff than August, so I expect this pace to continue in spite of rising interest rates. We may see a slowdown in October, and almost certainly will in November as is typical of the season.
Lawrence Yun, NAR chief economist, states the obvious: “The initial rise in interest rates provided strong incentive for closing deals. However, further rate increases will diminish the pool of eligible buyers.” We’ll see what the Federal Reserve does next week.
Note: These are for single-family home sales reported 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).