Thanks for stopping by our Sedona Real Estate News Blog. Here we will have featured Sedona homes and real estate. We will also have news and articles about buying and selling Sedona homes and property.
Here's the information on Sedona Ranch lot #3, aka 297 Loy Lane, Sedona AZ 86336.
We took pictures of the current stage of construction and a video down at the creek.
Here's the full Sedona MLS information for this property.
A brief walk along Oak Creek on Lot #3
We have a new listing coming up in October, it's not in the MLS, call us if you'd like to see it. Only 5 years old and feels like a new home. Outstanding views and a huge gourmet kitchen with island. Large stone fireplace and stone columns on entryway. Oversized garage. Situated on 1/3 acre at the top of Mountain Shadows Drive.
Susan Deierling 928-451-6098
3 bedroom / 2.5 baths
THESE ARE PRELIMINARY PICTURES ONLY
A great opportunity to acquire a home built by Jim Lawler of Lawler Construction. Known as one of the finest builders in Sedona, the quality of construction and materials will be evident throughout this home. This new construction home is Energy Star Certified & is situated in the gated portion of Thunder Mountain Ranch subdivision in West Sedona. If you act now, you can still make many of the selections - floors, granite, cabinets.
This special gated portion of Thunder Mountain Ranch has only 7 lots and adjoins Coconino National Forest. The home is situated to take in the red rock views from 3 sides of the home & the great room has a sloped ceiling to take full advantage of the panoramic red rock views of Sedona.
Expected completion is February or March 2019
3 Bedroom 2 1/2 Baths
2,534 square feet of living space
650 sqft oversized 2 car garage
384 sqft of deck facing views
Front courtyard with views
Sedona sits in two counties. Yavapai and Coconino. County seats are Prescott and Flagstaff respectfully. In Sedona, the areas of West Sedona, Village of Oak Creek and Big Park are in Yavapai. Uptown, Little Horse Park (Chapel Area) are in Coconino County.
The rest of the Verde Valley is in Yavapai County. Cottonwood, Clarkdale, Cornville, Camp Verde, Rimrock.
2018 State Sales Tax:
You’ll notice a disparity between the two sales tax rates. In Arizona, the cities generate revenue by sales tax. Since the Village of Oak Creek and Big Park are unincorporated in the County, they do not have any city sales taxes.
Zip code 86336, City of Sedona 9.85% combined (State 5.6%, County 0.75%, City 3.5%)
Zip code 86351, Village of Oak Creek & Big Park 6.35% combined (State 5.6%, County 0.75%)
We generally tell people to plan around 1% of value. Other factors can come into play besides just the tax rate, like the Sedona Fire District.
Property tax is at the FCV or full cash value assessment. If the property is your primary residence however you would pay the lower LPV or lower property value. A percentage cap is also in place so that your taxes can't be raised to much in one year. I'm not sure what it is , but it's low.
Yavapai County Property Taxes Average tax rate is 0.727% of assessed value. Call the assessors office for more information. (928) 639-8121 http://www.yavapai.us/assessor/
Coconino County Property Taxes: Average tax rate is 0.645% of assessed value. Call the assessors office for more information. (928) 679-7962 http://www.coconino.az.gov/119/Assessor
Please don't hesitate to call if we can answer any questions.
We live in the Village of Oak Creek (Sedona). It's a great place that's a bit slower than the City.
Here's what's happening in the Village in regards to home sales..
These are the MLS statistics for the Village of Oak Creek home sales, including Big Park (Zip 86351).
Last 6 months Sold 93 homes Avg $563,333 at 97% of list price. 147 days on market
Active/For Sale 55 homes Avg $766,387 105 days on market
Pending - 32 homes Avg $783,968
Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true.
While rates have been rising, so have home values. Here are the most recent monthly price increases reported in the Home Price Insights Report from CoreLogic:
Not only did prices continue to appreciate, the level of appreciation accelerated over the first quarter. CoreLogic believes that home prices will increase by 5.2% over the next twelve months.
Freddie Mac explained in a recent Insight Report:
“In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.”
If you are thinking about moving up to your dream home, waiting until later this year and hoping for prices to fall may not be a good strategy.
Prior to getting our “one thing”, answer this question: Are you aware of which DIY projects will give you the best return on investment? You may have heard a friend at a social gathering claim that renovating the kitchen or master bath is the best ROI, it doesn’t imply it is a fact. Do not use one of those posts/articles you see online (think HGTV) that claim that 'X' project will give you one of the best bangs for your buck. Because, the most effective return on your investment for any kind of house remodeling will depend on a lot on numerous things
However I can tell you, with no hesitation, irrespective of where you are living in Sedona, no matter what the Sedona real estate market is like… No matter what your home is like… Or when you're intending to put it up for sale it … There exists one, hands down best return on your investment.
With Sedona Arizona, You might even believe that all upgrades will raise the value when selling a home located in Sedona. You're correct but may still be mistaken.
In the event you renovate your kitchen, that’s certainly got to increase valuation on your home, correct? Changing that out dated bathroom for brand-new will surely allow you to receive more money whenever you sell the house. Build an addition... an additional bedroom must add to your eventual market list price tag when you go to sell the home.. Why not consider painting the entire house? New tile or hardwood floors? A new furnace?
And you might be correct … to a certain level.
You would certainly add value … help make your house actually worth more … regardless of the renovation project you do. Although let’s face it, while the choices are unlimited, your budget is not. So, you will be wise to stop and consider which project will bring you the greatest value for your dollar.
But the reality is… the vast majority of remodeling projects cost more than they return.
Most remodeling projects you decide to pursue are not going to help make you any cash. Of course, they will increase the sales price, but many of the items you might want to put money into, will not in fact raise the value anymore than it'll cost you. Quite often, the increase house price is somewhere in the 60%-75% wide range of what you put in. For example … You spent $900 and improve the valuation, say $600 - $700. Or, you may spend $12000, and collect the returns of possibly $6000 - $7000. Sometimes it can be dramatically less. 10K on a roof, doesn't matter, the new buyer of you Sedona home expects the roof to be in good repair. It may be a complete write off. Same with any deferred maintenance issues, unless you're selling below market and thats not what we are talking about.
Once it's done it is simply too late. At least, for people that don’t take advantage of some thing which will provide a large roi. Regrettably, not everyone does this.. But most folks do not do this, because All too often, people will decide to start a remodeling project and think that it will increase the Sedona AZ properties value more than expense of the project. If they went through with it and they are keeping the house, then it doesn't matter much. But on many of occasions, people are doing renovations mainly because they are planning on selling soon, and figure it makes sense to do whichever project spurs them as the most bang for the buck without speaking with a Sedona Arizona Realtor to begin with.
Then comes the time that they happily invite a Sedona Realtor to the home. They want to market their property and cannot wait to observe how impressed the real estate agent shall be. And, often the broker is impressed! But, the home-owner is just not going to be satisfied with the home value the real estate agent comes up with in their market analysis. Seems the work is not really worth the money spent. For that reason, the broker becomes the bad guy. The real estate agent turns into the the reason it failed to produce. it seems like the agent doesn't have a clue… or don’t understand the increased value … or maybe really want the home owner to value it very low to allow them to come up with a quick sale.
Realtors are often villainized for charging to much commission, or maybe out to produce a quick profit (Let’s not even slip into those myths right here) But the reality is, Realtors are usually underrated and also under used. To just go on and do a remodeling given that you suppose, heard, or read that some thing is “the perfect yield upon investment”, is a big oversight. Going the opposite path, rather than doing a particular remodeling project because some yearly statement you obtained online says that a do it yourself basically returns 52% of the expense, could possibly be quite as big a miscalculation. It totally is dependent upon your area in Sedona. Your property. Your project designs. And a Sedona AZ Realtor will help you discover which home improvements will actually increase the value of your property and definitely worth the money you pay out for your home improvement in Sedona. However, way too frequently, a Sedona real estate agent isn’t called until the home owner wishes to place their house on the Sedona real estate market … When they should have also asked the Realtor to come out prior to startingthe project.
Give a call your Sedona Realtor before you decide to do anything, or pay to remodel your home. That is indisputably the smartest thing that you can do to get the best yield on your home remodeling project. Your agent will likely be the most effective, useful resource in regards to what your very best ROI will likely be for that expensive job. It may be doing your your kitchen. It could be remodeling the bathroom. It can be as elementary as a coat of paint. Or possibly a professional scrubbing. No post/article can tell you… and the man inside the pub cannot let you know (except if they are really a Sedona Arizona real estate professional or real estate appraiser who knows your Sedona house, the market, along with your situation).
Questions? Give us a call (928-451-6098) when you have an opportunity. We'd be happy to go over your home, improvements and what your plans are for selling in Sedona.
Buying A Sedona Arizona Home
Where to find the exact home you want and how to work with the Realtor team who will help you get it.
You’re purchasing your very first house in Sedona. And maybe your very first mortgage loan.
It is a great move. Buying a home will take significant amount of cash and also time, with a few exceptions. Veteran programs and USDA programs are no money down programs. Nevertheless when you get the keys to your new Sedona AZ home, that can be one of the most rewarding emotions ever.
The key for you to get there? Becoming familiar with the home buying journey. Understanding what tools will be at the tips of your fingers. Above all building relationships with experts who can assist you to deliver results.
That is where this guide will come in. We will explain to you not only the main strategies you may take on through the house purchase processes, but also demonstrate the partnerships and realtors you will need .
Do Your Research
Everyone wants to leap straight to looking at homes. Prior to even step in to your inside the front door, you need to identify your list of “needs & wants This checklist is really an inventory of priorities in your hunt for a Sedona home. In addition , there’s so much to decide: Total price, house type, subdivision, and the school district - merely to name some.
Start Searching For Sedona Homes for Sale
Once you recognize just what you are seeking, you need to to begin taking a look at MLS listings and housing facts on the internet.
Look for a Really good Sedona AZ Agent
Your personal connection with your real estate agent is the basis for the home-buying processes. They are the most important consultant you can meet up with on the quest, and also professional you may rely upon most. That is why it’s crucial that you interview real estate agents to find the agent that is right your particular needs.
Choose a Mortgage Loan Company
Once you’ve found your agent be sure to ask him or her to refer no less than 3 or more mortgage lenders that meet all your financial needs. Here's our Lender List. This is certainly a big move, you will work jointly with the mortgage provider through the home-buying stage.
When you have decided on a mortgage lender, you can use your mortgage loan people to help identify the mortgage products best you. You have to consider the personal income you would like to invest for your new house, and you will have to provide the mortgage lender with paperwork showing evidence of of income, employment situation, as well as other sorts of necessary financials. If it proceeds satisfactorily you’ll become pre-approved for a loan for up to a specific predefined amount.
Go to see Sedona Homes & See the Market
Since you now have together an real estate agent which understands your personal preferences and also a budget - and a mortgage company who can loan a home inside of that budget and then it is the moment for you to become sincere about viewing properties. Your own broker can provide real estate listings you might prefer based upon your primary features (price, areas, features), and is going to also help you determining the quality Sedona listings you find online. Next will come the most interesting step: The private tours of people's homes, which grant you the exclusive opportunity for you to assess properties in such a way you can’t online.
Develop a Offer
When you choose the Sedona AZ house you'd decide to purchase, it's time to work with your personal broker who will craft a good offer to purchase which will not just stipulates the cost you’re considering to spend regarding the house but also the proposed settlement calendar date as well as clauses that will have to be approved by both sellers and buyers, such having the property inspection, termite check as well as requiring resulting home repairs on the property.
Getting a Bargain
Preparing a purchase offer can feel just like an emotionally charged cliff. It is is often nerve-racking! Some property owners just simply accept the top offer that they receive, nevertheless quite a few sellers make a counter-offer. If that crops up, it’s option to make a decision whether or not you want your own real estate agent to bargain with the seller or just walk away. This specific can be a area where your realtor can furnish real value just by using their skilled bargaining abilities to negotiate on your behalf and also nab you the finest deal.
Carryout a House Inspection - Employ a Home Inspector
After the offer is approved, then you can sign a purchase contract. Most sales contracts include things like a home inspection addendum. This would mean you will retain the services of a licensed home inspector to examine the home with respect to needed repairs and maintenance. You may then require that homeowner to have these home repairs made. It mitigates your risk when deciding to buy a house that may has got serious problems lurking under the surface, similar to mould or cracks in the foundation.
Appraisal Value Difficulties in Sedona
Once you'd offer to purchase a house, your lender definitely will need to have the property value appraised to make certain the house value is adequate to pay for the mortgage loan. Should your property is valued at near to the contract purchase price, you won't have nothing to worry about. A low/bad appraisal may well add a issue. A owner may lower the price, you could provide cash to closing or one can call off the agreement.
Wrap It Up - Keys
Your final step regarding your home buying process is close of escrow. You are going to sign the finalized home ownership and insurance coverage records.
Just recently, Federal Home Loan Mortgage Corporation aka Freddie Mac shared an Insight Report titled No place to go but up? All about the way in which rising mortgage rates could affect real estate and the market, including the Sedona real estate market. The statement focused on the effect the forecasted rise in home loan interest rates might have on the housing market this year.
Some think an increase in mortgage rates may cause a slowdown in buying of homes in Sedona Arizona which would, subsequently, create a fall in Sedona real estate values. Inevitably, however, price is based on supply & demand even though rising mortgage rates might slow down demand from customers, in addition they influence supply.
From the report:
“For today's home owners, the decision to invest in a new home is often associated with their decision make a sale their existing home. Because of this association, the loans costs from the existing mortgage loan are a part associated with the homeowner’s decision if it makes sense to sell.
If the existing rate (we'll assume fixed rate) exceeds the interest paid for an existing bank loan, the potential home buyer would have to leave behind a below-market mortgage to sell.
The homeowner might choose to hold off both the sale of their existing home and purchasing of a new home to keep the beneficial interest rate.”
The Freddie Mac analysis, on acknowledging this example, concluded that pricing is not necessarily adversely stricken by increased mortgage rates. They explained:
“While demand for homes may slump, there is an linked slide on the supply with homes with the association between the buying and selling decisions. As both the supply and demand move in concert in this manner they have offsetting effects on lowered demand diminished selling price and reduced supply raises price.
They went on to show that the Freddie Mac National Home Price Index was
“…unresponsive to changes in mortgage rates. In the present housing market, the driving force in regards to the increase in selling prices is often a reduced supply with both completely new and also resale homes coupled with generally rates that are low. As rates on mortgages rise, the need for home purchases may continue being good relative to the confined supply and continue to set upwards pressure upon house prices.”
The following information, depending on facts within the article, unveils what happened to house prices the past six occasions mortgage rates increased by no less than 1%. This is consistent with the Sedona real estate market as well.
Freddie Mac Increasing Rates On Mortgages Really Don't Lead to Falling Home Prices
Regardless if you are a move up buyer or first time home buyer, holding out to invest in your next house based mostly upon the belief that values may drop on account of increasing mortgage rates can make absolutely no logic.
If you're looking for a mortgage lender, we maintain a list of local professional Sedona mortgage lenders.