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November Housing Market Update

by AULT&ASSOCIATES

 

 

Good Friday to you all! I just wanted to take a moment and let you know some "good news!" The housing market in Sedona, Cottonwood and the Verde Valley continues to improve! Have a look at the numbers below.

Sedona (11/17/16 - 11/17/17):

Total Closed Sales: Up 26% from 171 to 215 (from this same time last year and up 3% from last month).

Median Recorded Sales Price: Up 10% from $467,500 to $515,000 (from this same time last year).

Price Per Square Foot: Up 6% from $233 / sq. ft to $248 / sq. ft (from this same time last year and about 1% gain over last month).

 

 

Cottonwood (11/17/16 - 11/17/17):

Total Closed Sales: Up 6% from 321 to 340 (from this same time last year and up about 1% over last month).

Median Recorded Sales Price: Up 15% from $195,000 to $225,000 (from this same time last year and up about 1% over last month).

Price Per Square Foot: Up 10% from $130 / sq. ft. to $143 / sq. ft (from this same time last year and up about 1% over last month).

If you or someone you know is looking to sell or buy, please don't hesitate to contact us. We are here to help you or them with all of your residential real estate needs!

AULT&ASSOCIATES - Team Is What It Takes.

Why A Seller Should Have a Home Inspection Done PRIOR to Marketing

by Ault&Associates

Home Inspections:  Why a Seller Should Have a Home Inspection Prior to Marketing

We highly recommend that our sellers get a home inspection "to prepare the property for marketing." Those words are actually used by us as the opening to our Marketing Remarks in the MLS listing so that buyers know that the seller has done his/her due diligence. In addition, this technique is done almost exclusively by Ault & Associates in our listings. Other agents ask us how we get our sellers to do this and wish they could do the same. We tell them that we believe in it 100%. The result is two-fold: 1.) Other agents in the MLS know that when they bring a buyer to our listings, there will be no surprises. Too many sales fall out of escrow during the inspection process because of surprises. And, 2.) The Seller usually gets a better price to begin with since the buyer has nowhere to go with his offer; he can no longer come in low because he believes that the roof may be bad or the heating and cooling are unknowns in this older home. Those questions have been answered by the home inspection report which becomes part of the seller's disclosure items along with receipts for work performed.

Preparing Your Home to Sell

by Ault&Associates - Claudia R. Ault / Larry Ault

When preparing your home for sale, a number of simple cosmetic changes often provide the biggest return on investment. Here are three tips to upgrade your house without breaking the bank:

Bring in the light. The right light creates the right mood. Adding lights to dark rooms can make your home feel warm and inviting. Bring outdoor light inside by opening curtains and installing economical sun tubes.

Create Space. Many of today's buyers are looking for open rooms. Consider removing unwanted walls to make your home feel more spacious. Buyers will often pay a premium to get a bit of extra room.

Replace Flooring. Get rid of that old carpet in the den and replace it with today's newer hardwoods and laminates. You don't have to spend a lot to make a big impression!

These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!

Should I Buy a Home Now?

by Ault&Associates - Claudia R. Ault / Larry Ault

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall further than they have already. They are assuming that the best course of action is to wait for the bottom in the market and then buy. The problem with this approach is that you don't know where the bottom is until you see it in the rear view mirror, meaning until you've missed it!

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have gone up in the last six months, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, if home prices come down a little further but interest rates go up, it could cost you even more to service a mortgage on an identical home!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates and low home prices, rather than to hope for a further break in prices in the future.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

Displaying blog entries 1-4 of 4

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Photo of Ault&Associates - Claudia R. Ault / Larry Ault / G Real Estate
Ault&Associates - Claudia R. Ault / Larry Ault / G
Russ Lyon | Sotheby's Int'l Realty
20 Roadrunner Dr., Ste. A
Sedona AZ 86336
(928)301-3016
(928)301-0852

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