Cornville Arizona – where?

Well, many will now be wondering why a place would be named Cornville in the middle of Arizona where there is very little corn being grown…if any!

 The name actually comes from when the town was settled back in the 1880’s when the town was to be called Cohnville after a prominent local family of settlers called the Cohns, so when an application for a post office was put in to the Government the paperwork came with “Cornville” and it has been called it ever since!

Cornville grew from its humble beginnings to a bustling population of over 3,000 as recorded in the 2000 census. It is primarily a commuting town for Cottonwood and Sedona. In addition to Senator McCain, other notable residents of the area over the years have included rancher Frank Gyberg, sculptor John Henry Waddell and the late St Louis Rams owner Georgia Frontiere.

The community is spread across 13.2 square miles with a population density of 252.1 people per square mile. In addition to the 3,000+ residents there are over 1300 households.

Local attractions include Eliphante, “three acres of fantastical domes, shacks and follies” created over 28 years by Michael Kahn and his wife, Leda Livant. As well as beautiful oak creek and the stunning landscape.

Cornville would make a great place to relocate to for those moving to the area.

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES! If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact AULT&ASSOCIATES in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016 or Larry Ault at 928-301-0852

Sedona Arizona’s real estate market has been having a great few months!

The market has  been moving quickly, thanks to the pressure applied by the first time homebuyer tax credit and the other tax credit that has now ended.

The National Association of Realtors has released Market Data for existing home sales for April 2010 and the news is great!

Nationally home sales were up 22.8% in April from one year ago, distressed homes, such as those in foreclosure, accounted for 33% of sales nationally in April – which is great news! Showing more of the foreclosure inventory is being absorbed!

Also, investors accounted for 15% of sales in April, and the overall existing home sales figures were up 7.6% over the previous month according to NAR.

Here out west, existing-home sales are 5.2 percent above a year ago and the median was $212,400, up 3.8 percent from April 2009. Definitely great news! In fact, in 18 out of 20 metro areas, prices have risen! See our recent post about prices rising in some metro areas.

In addition to existing home sales, home affordability has also been talked about in terms that this is important for those buyers who are thinking about purchasing a home in a region where the market is improving, it is unlikely that affordability will get better. Therefore now really is a great time to buy with affordability at a five month high according to the National Association of Home Builders as mentioned in the Realty Times.

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES! If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact AULT&ASSOCIATES in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016 or Larry Ault at 928-301-0852

The Tax credit deadline is nearly here and the chance to grab free money is fading at the end of this month…HOWEVER! This means that the National Association of Realtors has some important housing data for us here in Sedona for March 2010.

The news has been hotly anticipated that there has been a small surge in home sales – and guess what? The anticipation is correct!

Existing-home sales, which are completed transactions that include single-family, townhomes and condos, rose 6.8% to a seasonally in March and are 16.1% above level in March 2009. Single Family home sales themselves rose 7.3% and are 13.3% higher than a year ago. Sales have been up for nine months straight and inventory has been trending down for 20 months running. The tax credit has helped save an estimated $1 trillion of home values.

Inventory is currently at an 8 month supply with raw unsold inventory 21.7% below the record month of July 2008.

Foreclosures (representing 35% of transactions) have been coming to the market and being absorbed at a managable pace and are selling to investors (19% of sales) and first time home buyers (44% of sales). The number of all cash transactions was again higher at 27% showing that buyers are snapping up properties rather than looking at financing.

The national median home price was up 0.4% for all types, but for single family homes the median price is up 0.6% – But, thats not all, median prices rose in 14 out of 20 metropolitan statistical areas reported in March in comparison with a year earlier. Five metro areas experienced double digit increases! Here out west, existing-home sales rose 6.6% in March and are 14% above March 2009.

The recovery is well underway and interest in Sedona real estate is as strong now as it was years ago – now is the last chance to snap up a great home which is excellently priced and with a low rate mortgage loan with mortgage rates under 5%, what is stopping you!?

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES! If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact AULT&ASSOCIATES in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016 or Larry Ault at 928-301-0852

The figures for February 2010 are in from the National Association of Realtors for nationwide home sales.

The news for the nation is that of slowed growth and steady home sales. Naturally the weather in certain areas of the country did delay some things and result in lower than expected figures.

However for the western part of the country there are some interesting figures -  despite a fall compared to January existing home sales out here in the West are 3.4 percent higher than February 2009!

Sales of single family homes nationwide were 4.3% higher than the previous February, while the big news is for Condo sales – they were up 30.3% higher than February 2009! The composition of the national figures is also interesting – with distressed homes, generally sold at a good discount, accounted for 35% of sales. First time homebuyers purchased 42% of homes in February, which was up from January’s 40%. With the level of investors purchasing also increasing – up to 19% from 17% in January – this shows investors are putting their trust back into the market.

Chief Economist for the National Association of Realtors, Lawrence Yun says that sales have been higher than a year ago with steady increases in sales over the last 8 months. Prices are firmer than before. What will be interesting across the nation as well as here in Sedona Arizona over the next couple of months with the looming tax credit deadlines.

Sedona is an excellent place to live, work and play – many people own second homes/vacation homes here which are a sound investment. Perhaps you were considering one yourself? Or perhaps considering relocating to Sedona? For retirement perhaps?

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES! If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact AULT&ASSOCIATES in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016 or Larry Ault at 928-301-0852

Arizona’s real estate market is often a hot potato when it comes to the media. However the signs are encouraging. Even in areas that were hard hit, such as Phoenix.

In fact, Phoenix and the rest of the state is looking forward to a bright future!

The final tally for homebuilding permits in the Phoenix area this year will be about 8,800. 7,200 home lots ready for construction have sold in metropolitan Phoenix. About 42 percent of those lots were bought by homebuilders, and they don’t plan on holding on to them for long. As Phoenix’s housing market hit its bottom in April, based on current trend the market could see positive numbers by the spring of 2010. After all last month was the second-best November for home sales in the area’s history. Only November 2004 was better.

Both foreclosures and preforeclosures fell in Phoenix during November. Foreclosures dropped 21 percent from October to 3,808 and preforeclosures dipped 9 percent, to 7,149.

You could term the move as the “Road to Recovery” for 2010.

There have been several steps in paving this “road” which have started to occur. Including:

1) National Government intervention – The extended tax credit for contracts signed before 4/30/10.

2) Low Mortgage Interest rates - some rates are as low as they have been for 30 years!

3) Bank Owned Properties (REO’s) & Short Sales - The number of REO’s will continue to decline from the 65% of all closings’ peak in May of 2009, but will likely be replaced by Short Sales.

It is expected that things will continue to grow as sales increase. Perhaps not as high a rate as they have in the past year – 2008 had 60,000 closed sales – 2009 will be close to about 90,000!

Here in Sedona things are also looking great, but with the tax credit ending in a few months and interest rates with no where to go, but up! Now is the best time to buy.

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES! If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact AULT&ASSOCIATES in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016 or Larry Ault at 928-301-0852

Sedona Arizona is such a beautiful place to live, work and play. It attracts 3 million visitors every year!

In fact, even in the fall it’s beauty knows no bounds! Click here to see this picture taken in Oak Creek published by the USA today.

Named for Sedona Schnebly, the wife of its first postmaster, who arrived in the central Arizona town in 1902 – Sedona has it all for visitors and year round residents! The city of just 10,500 is just 19 square miles, is surrounded by protected lands, including the Coconino National Forest and two wilderness areas. Sedona sits at the entrance to Oak Creek Canyon, and dozens of smaller canyons surround it.

In terms of our Real Estate here, it’s all about being outdoors! Many of the homes back up to the National Forest where activities include hiking and mountain biking for instance. Being outside is complimented by the 330 annual days of sun, and a climate milder than much hotter Phoenix and Tucson, as Sedona sits at 4,500 feet. In fact, the city is so popular it generates 300 tourists for every one resident each year!

The large art scene, musicians and boutiques make the area popular with second home buyers. In the last few months this second home market has been increasing.

Most of the housing market consists of single family homes, averaging $550,000 to $600,000, although there are some town homes and condos around $200,000 as well as the luxury end of the market with many properties, even in the current market in excess of $1 million.

Sedona consists of many different neighborhoods. Three popular areas include:

West Sedona – This area has the bulk of the city’s services and amenities.

Uptown – With prices equal to West Sedona, this area is more residential. At the entrance to protected Oak Creek Canyon, Uptown is very close to the surrounding wilderness and red rock landscape.

Village of Oak Creek. – This village to the south of Sedona is more of a neighborhood than a suburb, home prices are 10%-15% less than Sedona proper and property taxes are slightly lower. It attracts more full-time residents because of its excellent school system.

So there you have it! More about Sedona, Arizona. So, if you are looking for that perfect second home or year round property then please get in touch as soon as possible for the best and most prompt real estate assistance.

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES! If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact AULT&ASSOCIATES in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016 or Larry Ault at 928-301-0852

THIS NEWS JUST IN!

Reported today, the Senate has just voted to extend the soon to expire on November 30th $8,000 First Time Homebuyer Tax Credit.

This credit has been one of the reasons for the recent rise in home sales and in some areas home prices. It has been key to many of the recovery efforts by the government to boost the industry and the economy.

In addition to extending the deadline for the credit to mid-2010, the Senate has also agreed to offer a reduced credit of up to $6,500 to repeat buyers who have owned their current homes for at least five years. The unofficial word on the conditions of the extension and new credit are that the tax credits would be available to homebuyers who sign sales agreements by the end of April. They would have until the end of June to close on their new homes. All of course not long after call from NAR to extend the credit.

We will watch this story closely as it continues…

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES!

If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact Claudia Ault and her team in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016.

The National Association of Realtors have released their monthly real estate sales data for the nation and for all regions. Figures are definitely on the up!

Nationally Single-family home sales rose 9.4 percent and condominium sales jumped 9.7 percent. Overall, existing-home sales, including single-family, townhomes, condominiums and co-ops – jumped 9.4 percent to a seasonally adjusted annual rate of 5.57 million units in September from a level of 5.10 million in August, and are 9.2 percent higher than the 5.10 million-unit pace in September 2008. Sales activity is at the highest level in over two years, since it hit 5.73 million in July 2007! For the west of the country, Existing-home sales surged 13.0 percent to an annual rate of 1.30 million in September and are 5.7 percent above a year ago.

Also with this level of sales activity inventory has fallen, Total housing inventory at the end of September fell 7.5 percent to 3.63 million existing homes available for sale, which represents an 7.8-month supply at the current sales pace, down from an 9.3-month supply in August. Unsold inventory totals are 15.0 percent below a year ago.

Locally here in the western part of the country, Existing-home sales surged 13.0 percent to an annual rate of 1.30 million in September and are 5.7 percent above a year ago. The median price in the West was $219,000.

This really shows that now is the last chance to take advantage of market conditions and get a great home at a great price! Particularly with current FHA loan limits and the first time homebuyer tax credit.

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES!

If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact Claudia Ault and her team in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016.

With the national real estate market taking off it is no wonder that the market in Sedona is starting to show signs of recovery. Prices have fallen back to 2003-2004 levels with much of the buying activity occurring at the low/mid section of the market.

First time homebuyers have been snapping up property thanks to the $8,000 tax credit – which ends soon! – as well as taking advantage of the low interest rates. In fact the number of homes sold was up 62% with 41% of that volume being foreclosures & short sales.

That said, only 12% of the real estate market is made up of foreclosures and short sales so there is still an opportunity for buyers to purchase a great home at a knock down price.

In the Vacant Land side of the market, the median price is now around $121,000 compared to $318,000 in 2008. Definately an opportunity for buyers there. Also, in condominiums there has ben a 30% increase in sales with a 10% increase in the sales price!

In short, the time to act is now as the best buyers market in years is slipping away for those who are on the fence. [See our article - Pending Home Sales Rise Lead By the West!]

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Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES!

If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact Claudia Ault and her team in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016.

As recently written about, the vacation home market in the Verde Valley is ripe for buyers!

Indeed, times are changing and people are realizing the value in buying an investment home again.

Real Estate investing can work for many people – providing that some rules are followed to ensure the long term feasibility of the venture. Realty Times lists some points under “Real Estate 101“:

1. Own your own home first – as a buyer don’t try to stretch yourself to fast buying an investment property without owning your own residence.

2. Get Educated! Learn about the real estate market where you are and even consider getting your Real Estate license! This will help you understand more about the process of purchasing an investment home as well as the intricacies of the system.

3. Get In The Professionals – From constrators to real estate agents, you need to know how you can get the most from your investment

4. Learn your target market – are you going after singles, families or retirees? These are questions you need to know the answers to.

5. Develop an exit strategy – learn where to draw the line on the project. By having a developed business plan with a comprehensive exit strategy, you will ensure that you will have a way out if it does not work out.

By following these simple rules you can help build your own investment portfolio with the right foundations.

Realty Times poses the question: Arizona: Is Now THE Time to Invest in the Grand Canyon State? The answer seems to be a very firm – YES!

If you have decided that you would like to own a home in Sedona as a full time resident or part time then contact Claudia Ault and her team in downtown Sedona.

For a complimentary search of the Sedona MLS and access to all property currently on the market in Sedona AZ, visit www.claudiaault.com. For the best in Sedona Real Estate service and knowledge, contact Claudia Ault at 928-301-3016.