Sept. 18, 2018

2367 W. Rock Island Ave, Flagstaff, AZ 86001

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

See all homes for sale in Railroad Springs

 2367 W. Rock Island Ave, Flagstaff, AZ 86001

 Beautiful, Affordable, Updated Paradise in Railroad Springs  
3 Beds | 2 Baths | 1,568 SqFt

Paradise in the pines! Don't miss out on this affordable home with many updates. The most important being the yard! Sit on a brand new composite deck with a fully landscaped yard! 3 bedrooms 2 baths AND A DEN!! Kitchen equipped with a new 5 burner stainless steel gas stove. Very clean, pride of ownership very evident.    

Photos and more information here: https://www.northernarizonafinehomes.com/property/175262/

Take a Virtual tour: http://www.tourfactory.com/2070378

Location

2367 West Rock Island Avenue

Car-Dependent

Explore Railroad Springs on Walk Score

 

Dining Nearby

 

Attractions & Recreation

  •  

 

Schools

  • Eva Marshall Elementary PK-6
  • Flagstaff High School 9-12
  • Mount Elden Middle School 6-8

 

Railroad Springs Neighborhood Information 

Railroad Springs is a community of manufactured affordable homes boasting green space, paths, basketball court, central park & additional common space amenities.  It is conveniently located- a short drive/bike ride to Historic Downtown Flagstaff, and 2 miles from NAU with a bus stop just down the road from the neighborhood. Visit the Railroad Springs community page to know more about this Flagstaff neighborhood.

Contact Kelly Broaddus at kelly.broaddus@exprealty.com  or call 888-4465602 to see other houses for sale in Flagstaff.

 

Search for Homes in Flagstaff, Arizona

Flagstaff Homes for Sale Under $250,000

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Flagstaff Homes for Sale Above $450,000

Sept. 18, 2018

Are You Covered? A Flagstaff Homeowner’s Insurance Guide

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

 

Are You Covered A Homeowner’s Insurance Guide

 

No one likes to think about disasters. Severe weather, fire, theft—or even a seemingly small issue like a broken pipe—can wreak havoc on your home and result in thousands of dollars in damages. Fortunately, a good homeowners insurance policy can offer you peace of mind that you and your family will be financially protected if disaster strikes.

 

HOMEOWNERS INSURANCE 

A homeowners insurance policy covers your Flagstaff home—as well as the belongings in it—in case of theft, accidental damage, or certain natural disasters. In fact, most financial institutions require that you purchase homeowners insurance before they issue a mortgage. While coverage varies, most policies also help to protect you from liability should someone outside your household become injured on your property. And that liability coverage is often extended to include damage you (or anyone living in your household) may do to someone else’s property.1

 

With all the protection offered, it’s equally important to understand what a home insurance policy does NOT cover. For example, homeowners insurance won’t pay to repair malfunctioning systems and appliances within your home. And terms vary, but standard policies typically exclude coverage related to floods, earthquakes, slow leaks, power failure, neglect, aging, faulty repairs or construction materials, and acts of war.2

 

 Homeowners Insurance Covers Things Like:

  • Structure
  • Roof
  • Windows
  • Furniture/Personal Belongings
  • Liability for Non-Residents Injured on Property
  • Liability for Damage or Injury Caused by You or Your Pets

 Most Standard Policies DON’T Cover:

  • Malfunctioning Systems & Appliances
  • Floods
  • Earthquakes
  • Slow Leaks
  • Power Failures
  • Neglect or Aging
  • Faulty Repairs
  • Acts of War

 

 

NARROWING THE COVERAGE GAP - HOME WARRANTY

 

So how do you minimize your risk when so many potential issues are excluded from a standard homeowners policy? Many insurers offer supplemental coverage options that can be tacked on to a basic policy. We explore this further in the section below on “7 Tips for Purchasing Homeowners Insurance.”

 

Some Flagstaff homeowners also choose to purchase a home warranty, which covers many of the systems and appliances in your home that are NOT covered by homeowners insurance. Home warranties are separate from homeowners insurance, so if interested you’ll need to seek out a policy through a dedicated provider.

 

While terms vary, a home warranty will often pay to repair or replace components of your HVAC, electrical, plumbing, and some appliances that fail due to age or typical wear and tear. Unlike homeowners insurance, home warranties aren’t required by mortgage companies. But many homeowners like the added financial protection and peace of mind that home warranties provide.3

 

Keep in mind, if you do purchase a home warranty, you will still be responsible for paying a service fee, or deductible, every time you use it. And you will be limited to using service providers who are contracted through your home warranty company.

 

 

7 TIPS FOR PURCHASING HOMEOWNERS INSURANCE 

 

Whether you’re shopping for a new policy on your first home or you’re considering switching providers on an existing policy, it’s important to do your research beforehand. Not all insurance policies—or providers—are created equal. A little due diligence can save you time, money, and hassle in the long run.

 

  1. Prioritize Service and Value

 

When choosing an insurance provider, ask around for recommendations. Check with neighbors, friends, and family members, particularly those who have filed an insurance claim in the past. Find out if they had a positive or negative experience. Read online reviews. Ask your real estate agent for a referral to a reputable insurance broker who can help you compare your options.

 

Don’t just choose the cheapest policy. Instead, search for one that offers excellent client service and provides the best coverage for the cost.

 

  1. Choose the Right Level of Coverage

 

Your policy limits should be high enough to cover the cost of rebuilding your Flagstaff home. Don’t make the common mistake of Insuring your home for the price you paid for it. The cost to rebuild could be higher or lower, depending on the value of your land, your home’s unique features, market factors, new building codes, and local construction costs.4

 

Also, consider whether you need a higher level of liability insurance to protect your assets. If your investments and savings exceed the liability limits in your policy, you may need to purchase an excess liability or umbrella policy.

 

Ultimately, you should make sure your coverage is adequate to mitigate your losses—but don’t pay for excess insurance you don’t need.

 

  1. Inquire About Additional Coverage

 

Ask your insurance agent about additional coverage options that can help close any gaps you have in your policy.

 

For example, if you’re in a flood or earthquake-prone area, experts strongly recommend that you add those coverages to your policy. In fact, flooding is the most frequently occurring natural hazard, and a significant percentage of insurance payouts are for homes outside “flood zones,” or areas known to be at risk of flooding. So even if your Flagstaff home is not technically located in a flood zone, you may want to add flood coverage to your policy, just in case.5

 

Expensive jewelry, furs, collectibles, or artwork may not be fully insured by a standard policy. Ask about raising your limits for any items of particular value, or check with a specialty insurer about a separate policy for such items.

 

  1. Decide on “Replacement Cost” or “Actual Cash Value”

 

Insurers can use a variety of methods to determine how much they will pay to reimburse you for a loss, but the two most common are “replacement cost” or “actual cash value.”

 

If your seven-year-old sofa is damaged in a fire, replacement cost coverage will pay you the cost to purchase a new, comparable sofa at today’s prices. Actual cash value coverage will pay you for the depreciated value of the sofa you lost—so what you would pay to buy a seven-year-old sofa rather than a new one.6

 

While a replacement cost coverage policy will result in a bigger payoff if you suffer a loss, it will probably require a larger annual premium. Compare both options to find out which is the better fit for you.

 

  1. Consider a Higher Deductible

 

A deductible is the amount of money you are responsible for paying on a loss before your insurance company will pay a claim. Opting for a higher deductible can reduce your premiums.

 

Note that in some cases, your insurance policy may have a separate or higher deductible for certain kinds of claims, such as those caused by floods, windstorms, hail, or earthquakes.

 

While a higher deductible can save you money on your premiums, opt for one that is still affordable given your current financial situation.

 

  1. Try Bundling Your Coverage

 

Combining your home, automobile, and other policies under one insurer can often result in a significant discount. And some insurers offer additional benefits, such as a single deductible if property insured by multiple policies is damaged. For instance, if a fire destroys your home and your car, you may only have to pay the higher of the two deductibles. Bundling can also make payment and renewal of your policies more convenient.7


However, bundling isn't always the best or least expensive option. In some cases, you may find better coverage options, service, and/or pricing if you split your policies between multiple insurers. So be sure to consider all of your options before making a final decision.

 

  1. Reassess Your Policy Each Year

 

Even if you’ve done all your due diligence before purchasing a homeowners insurance policy, don’t set your annual renewal on autopilot. Instead, when it comes time to renew, take some time to consider factors that have changed over the past year.

 

For example, have you made any home improvements that would require you to raise your coverage limits? Have you made any security or safety improvements that qualify you for a discount on your premiums?8

 

Has there been a shift in market conditions that would make it more or less expensive to rebuild your Arizona home now? If so, you may need to adjust your coverage levels accordingly.

 

If you’ve made any changes to how you use your home, you may need to adjust your policy, as well. For example, if you’ve started a home-based business or occasionally rent out your Flagstaff home on a home-sharing site, you may not be fully covered by your existing policy.9

 

Finally, consider any changes to your financial situation that may require increased liability coverage limits. If you’ve grown your investments or inherited property, it may be time to purchase additional coverage to protect your expanding asset base.

 

 

MINIMIZE RISK, MAXIMIZE VALUE

 

Now that you understand the basics of homeowners insurance, you should be ready to start shopping for a policy that best fits your needs and budget. Your goal should be to minimize your risk while maximizing the value your policy provides.

 

While you never want to leave yourself without a safety net should disaster strike, you also don’t want to overpay for insurance you don’t need (and will hopefully rarely use). Aim to strike a balance that will provide you with adequate protection at an affordable price.

 

 

NEED MORE GUIDANCE? THE KELLY BROADDUS TEAM CAN HELP

 

If you’re in the market to purchase homeowners insurance or a home warranty for your Flagstaff home, give us a call at 888.446.5602! We get a lot of feedback from clients on the best (and worst) providers and are happy to share what we know.

 

We can also put you in touch with a trusted insurance professional who can answer your questions and help you find the best policy to meet your needs.

 

 

The above references an opinion and is for informational purposes only.  It is not intended to be financial or insurance advice. Consult the appropriate professionals for advice regarding your individual needs.

 

Sources:

  1. Insurance Information Institute -
    https://www.iii.org/article/what-covered-standard-homeowners-policy
  2. Insure.com -
    https://www.insure.com/home-insurance/exclusions.html
  3. American Home Shield -
    https://www.ahs.com/home-matters/cost-savers/whats-the-difference-homeowners-insurance-vs-home-warranty
  4. Insurance Information Institute -
    https://www.iii.org/article/how-much-homeowners-insurance-do-you-need
  5. Realtor.com -
    https://www.realtor.com/advice/buy/buying-home-insurance
  6. Texas Department of Insurance -
    http://www.helpinsure.com/home/documents/acvvsreplace.pdf
  7. Insure.com -
    https://www.insure.com/home-insurance-faq/bundle-insurance-policies.html
  8. National Association of Insurance Commissioners -
    https://www.insureuonline.org/consumer_homeowners_ten_tips.htm
  9. HomeAway -
    https://help.homeaway.com/articles/Do-I-need-a-special-vacation-rental-insurance-policy-for-my-property

 

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Posted in Homeowner Tips
Sept. 11, 2018

Kelly Broaddus Earns eXp Realty's ICON Agent Award

by Joselyn Uy

Kelly Broaddus ICON Agent Award eXp Realty

Flagstaff, AZ, September 11, 2018 - eXp Realty, the largest residential real estate brokerage by geography in North America, announced that Kelly Broaddus, along with 24 top-producing agents across the country, has been given the eXp Realty ICON Award for August 2018. 

The eXp Realty ICON Agent Award recognizes agents who achieve certain production goals and represent a good cultural fit for the brokerage. The eXp Realty ICON Agent Award provides each qualified ICON with up to $16,000 in publicly traded eXp World Holdings, Inc. common stock upon the achievement of certain production goals within an agent’s anniversary year. The company’s cap is presently set at $16,000. Through the program, ICONs effectively can earn up to their entire cap amount back in the form of stock.

ICON agent qualification details are:

  1. Demonstrates company culture through giving back by Teaching a class, serving on a panel or serving on a committee
  2. Demonstrates a willingness to promote eXp Realty within their community.
  3. Production requirement: $16,000 paid in company cap plus capped status transactions in the same anniversary year resulting in capped status transaction fees of not less than $5,000, OR
  4. Production requirement: Annual gross commission income of $500,000 or more with a minimum of 10 closed transactions and payment of an “ICON Qualifying Fee” equal to $5,000 less capped transaction fees paid during the same anniversary year.
  5. Approval by the ICON Vetting Committee

$12,000 in publicly traded eXp World Holdings common stock is awarded and vests after three years, $4,000 is issued with no vesting period.

 

"I could not have achieved this award without the help of my wonderful team: Josie, Merry, Sarah, Stephen, David thank you! It is wonderful to achieve the highest honor the first year working with eXp. I am honored and excited to be a part of helping other agents achieve the same goal!"  Kelly Broaddus

Broaddus has been working in the real estate industry for more than 19 years and has extensive experience in buying and selling residential real estate. She leads the Kelly Broaddus Real Estate Advisors Team, a top producing real estate team based in Flagstaff, AZ offering real estate solutions to homebuyers and sellers in Flagstaff, Sedona, Cornville, Williams and nearby areas. Kelly achieved $20 million dollars in sales volume with over 50 buy and sell transactions in Flagstaff in 2016 and is on track to surpass this record in 2018 . 

eXp Realty provides 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its fully-immersive, virtual campus environment. As a public company subsidiary, eXp Realty uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth. eXp Realty is one of the fastest growing real estate brokerages in the United States with more than 12,000 agents in 49 U.S. states, the District of Columbia and three Canadian provinces.

Aug. 31, 2018

2290 Tom Mcmillan Flagstaff, AZ 86005

updated August 31, 2018

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

See all homes for sale in Forest Highlands

 2290 Tom McMillan Flagstaff AZ 86005

Fabulous 3 Bedroom Retreat in Forest Highlands 
3 Beds | 2 Baths | $499,650

Beautiful 3 bedroom single story home situated on a 9,583 sqft premium golf course lot in the highly sought after Aspen Cottages at Forest Highlands. As you step inside this airy 2051 sqft cottage, light streams into the great room from a wall of windows revealing vaulted ceilings, a natural stone fireplace, and a large inviting outdoor deck. Gather family and friends on your deck perfect for entertaining. The master suite located on the main level has its own separate access to the back deck. Perfect location. You are steps away from Friday night cocktails at the Canyon clubhouse, practice greens, driving range, swimming pool, tennis courts and more. Experience all that Forest Highlands has to offer! With 2 of Arizona's best golf courses, 2 clubhouses with formal and casual dining, hiking, biking, fishing, and a host of recreational activities for kids and adults. This premier golf lifestyle community has it all.     

Photos and more information here: http://www.northernarizonafinehomes.com/property/171128/

Take a Virtual tour: http://www.tourfactory.com/1859187

Location

2290 Tom McMillan Circle

Car-Dependent

Explore Forest Highlands

 

Dining Nearby

 Are you a Mediterranean food lover? My Pita Wrap offers lots of choices available. Another place definitely worth a visit is Delhi Palace,  excellent food selection, great price for a lunch buffet. Mountainaire Tavern & Coppa Cafe are also nearby.

Attractions & Recreation

  • Lowell Observatory - Founded in 1894, this hilltop center with giant telescopes offers tours, solar viewing & stargazing.
  • Flagstaff Extreme Adventure Course - Facility at Fort Tuthill County Park offering treetop suspended obstacle courses for kids & adults.
  • Walnut Canyon National Monument - features prehistoric archaeological sites which are spectacularly located in cliffs and along the rim of Walnut Canyon. 

 

Schools

  • Manuel De Miguel Elementary School PK-5
  • Flagstaff High School 9-12
  • Mount Elden Middle School 6-8

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Forest Highlands Neighborhood Information 

Forest Highlands was established in 1987, the 1,100-acre Forest Highlands community is located two hours north of Phoenix and about five miles south of Flagstaff. Its custom homes and homesites offer exquisite views of the surrounding forest, mountains and lush tree-lined golf courses.

Contact Kelly Broaddus at kelly.broaddus@exprealty.com  or call 888-4465602 to see other houses for sale in Flagstaff.

 

Search for Homes in Flagstaff, Arizona

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Aug. 28, 2018

1996 E Rte 66 Flagstaff, AZ 86004

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

Sammys Autoparts_1996 E Rte 66 Flagstaff, AZ 86004

Great Commercial Property Beside To Be Built Flagstaff Town Place Suites
3324 sqft | $750,000

This former restaurant building has been re-purposed into a retail specialty auto parts store, Sammy's Autoparts, since 2005. It has a very high visibility location on Route 66. The zoning permits flexibility for redevelopment into specialty retail, package goods, deli/restaurant, or emergency care. The lot is 0.52 acres. There is a proposed new 90 room Flagstaff Town Place Suites ready to start construction next door. Perfect opportunity to service all those visitors!

Photos and more information here: http://northernarizonafinehomes.com/property/174946

Take a virtual tour: Coming soon

Location

1996 East Route 66

Car-Dependent

Explore Flagstaff on Walk Score

Attractions & Recreation

  • North Pole Experience - Give the kids details about Santa and his workshop. Kids get to see Santa and help him makes toys. 
  • Lowell Observatory - Astronomical observatory where the planet Pluto was discovered. Great place to go if you want to enhance your knowledge about astronomy, time with the stars on the horizon explained, and a chance to look through the giant telescope.
  • Riordan Mansion State Historic Park - Your tour will lead you through this historic home, filled with original artifacts, handcrafted furniture, and personal items belonging to the Riordan family.

Dining Nearby

Check out the best chocolate croissants made fresh today at Shift Kitchen and Bar. Satchmo’s is also a great place for dinner with a group. If you're looking for crafted BBQ and Cajun cooking drop by at Satchmo’s it's just a small detour from the main road. Another quick stop is at Coppa Cafe and Bistro.

Schools

Children in this community typically go to the following nearby schools:

  • John Q Thomas Elementary School PK-5
  • Sinagua Middle School 6-8
  • Summit High School 9-12

Get in Touch

Contact Kelly Broaddus at kelly.broaddus@exprealty.com or call 888-4465602 to see this excellent family commercial property located northwest of the city of Flagstaff or other residential houses for sale in Flagstaff.

 

Search for Commercial/Industrial Real Estate in Flagstaff, Arizona

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Flagstaff Commercial/Industrial Real Estate for Sale $1M & Above

Aug. 24, 2018

Flagstaff AZ Real Estate Market Update- July 2018

Flagstaff AZ Real Estate Market Data Provided by The Kelly Broaddus Real Estate Advisors Team / by Joselyn Uy

 July 2018 Flagstaff Home Sales

Flagstaff  Home Sales Slowdown in July

The summer selling season is starting to wind down. The National Association of Realtors® reports US existing-home sales down for the fourth straight month in July to their slowest pace in over two years. Flagstaff home sales have also cooled off after June's all-time high figures. 

 

"In addition to the steady climb in home prices over the past year, it’s evident that the quick run-up in mortgage rates earlier this spring has had somewhat of a cooling effect on home sales," Lawrence Yun, NAR Chief Economist

 

FLAGSTAFF HOME SALES

If you have been following our monthly market report blog, we reported an uptrend for the last 5 months. This July, Flagstaff housing sales in the greater Flagstaff region dropped 12% compared to the same month a year ago. There were a total of 111 houses sold. However, for the first seven months of 2018, sales are actually up 11% compared to last year.

In July 2018, the Kelly Broaddus team sold more units compared to June but at a lower total dollar sales of  2.09 M.

 

FLAGSTAFF HOME PRICE

July prices rose 2% with a median sale price of $385K.  This is not a new July high, but close. The July record is $392K set twelve years ago in 2006. On a calendar year basis, that was the top of the housing market in Flagstaff. Twelve years later and we are still not quite back yet

July 2018 Median Home Price Flagstaff AZ

 

July 2018 Flagstaff Market Watch Summary 

2018 Flagstaff Real Estate Market Watch Total Home Sales-   111 homes, down 12% vs June 2017. 

Median Home Price-  $385,000 up 3% up vs June 2017

Mortgage rates up - A 30 year fixed rate mortgage with 5% down and very good credit remain at 4.375%

Longest days on market: 386 days

CDOM The acronym CDOM (Cumulative Days on Market) is used by the Flagstaff MLS to describe how many days a property has been available for sale. A property has to be off the MLS for at least 90 days for the CDOM to restart, even if it is listed by a different agent. We report the average days on market for properties sold based on CDOM.

The number of days a home sits on the market can tell us a lot about pricing. A high CDOM is commonly a strong indicator that the home is overpriced. 

DOWNLOAD THE FULL MARKET REPORT HERE

Flagstaff's Priciest Luxury Homes (SOLD)

  • $1,425,000 - The most expensive home sold that sold in July 2018 is another luxury custom home in Forest Highlands. 4 bedrooms, 4.5 baths and 3,535 SqFt.
  • $686,309 Priciest townhome sold last month is a newer construction 4 bedroom custom home in the  Switzer Mesa/Ridge area

The most AFFORDABLE  Flagstaff Homes (SOLD)

  • Manufactured home - $42,500 - In the quiet 55+ community of Wildwood Hills, this home sits on a premium corner lot. The land is leased monthly.
  • Single-family - $243,000 - Quaint Mountainaire cottage featuring a GREAT front, fully covered porch to enjoy the birds and garden. Close proximity to the Mountainaire Country Store and Tavern. 
  • Townhouse - $205,000 - Terrific, turnkey, mint condition townhouse at The Village just a short distance from the base of Mount Elden. Swiss Manor area
  • Condo - $133,750  - Studio end unit at The Arbors (Woodlands Area) This would make a great rental, a perfect investment opportunity for that NAU student, or just a great get-away for those wanting to get away from the triple-digit heat of the valley.

 

Flagstaff Home Buyer Advice 

2018 Supply and Demand Starter Homes

Inventory levels are still down. The current level is far from what is needed to satisfy the demand for affordable/starter home where homebuyer demand is strongest. 

  • $200k- $400K, inventory is down 9% vs last month
  • $400K- $600K, up by almost 3% with over 6 months inventory available
  • Above $600K, we have even more than 6 months supply. No shortage here.

If you’re buying at the lower price range, having fewer homes on the market could present a few challenges. Don’t worry! I can help you come up with a strategy to find your next home.

Don't have the funds for your down payment yet? Here is something you might want to do: Crowdfund It 

Or go the traditional route and check out downpayment assistance programs from one of the reputable mortgage lenders that we work with: Fairway Mortgage  

Home Buying Tips Our home buyer's blog will help you plan and prepare for your successful home purchase and avoid headaches and surprises that may arise during the process.

Sign up for free to receive our updates about coming soon properties and homes for sale not listed on the MLS. 

 

Flagstaff Home Seller Advice 

If you are thinking about selling, now may be the time. Demand for your house will be strongest while there is still very little competition (Under 500K) which could lead to a quick sale for a great price.

Best Time To Sell

There has been a rash of price reductions across the country according to a new report released by Zillow. This is also happening in Flagstaff. On-market listings are seeing price cuts, though these price cuts are concentrated at the most expensive price-points. Our advice to home sellers: if you want to sell your house quickly and with the least amount of hassles, price it correctly from the beginning.

Home Selling Tips Our blog for home sellers has tons of tips to help sell your home faster and add thousands of dollars to your bottom line. Check it out

 

SATISFIED CLIENTS SAY IT ALL. Check out our 5 Star Reviews. 

 

GET IN TOUCH

We are your Flagstaff home experts! Please contact us at 888.446.5602 or email kelly.broaddus@exprealty.com with any questions you might have about this report of the Flagstaff real estate market.  Contact Us

 

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 What is the value of your Flagstaff Home?

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 June 2018 Flagstaff Market Statistics

 

 

Aug. 16, 2018

5750 E Jeremy Ln, Flagstaff, AZ 86004

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

Open HOUSE 5750 E Jeremy Ln, Flagstaff, AZ 86004

French Country Chic on 2.6 Acres in East Flagstaff
3 Beds | 2 Baths | $674,900

This home shows beautiful pride of ownership. Truly a home to live in and enjoy your family! This French Country Chic home sits on almost 3 acres of peaceful fully fenced and cross fenced land. Bring your horses, if that is your love. Upgrades include Quartz countertops, beautiful wood flooring, a large bonus room/den with a fun loft space for kids, new high-end appliances, new roof! Plenty of space for all your outdoor toys, with a 2 car attached garage, 3 car detached garage with elect. and 2 finished storage sheds on concrete slabs. Sit on your large deck and enjoy the outdoors, or sit inside by a roaring fire. This home naturally invites you to enjoy everything it has to offer. One of the cleanest and well-kept homes on the market.

Photos and more information here: http://www.northernarizonafinehomes.com/property/174868/

Take a virtual tour: http://www.tourfactory.com/2055844

Location

5750 East Jeremy Lane

Car-Dependent

Explore Brandis Map 33 Flagstaff

 

Attractions & Recreation

  • North Pole Experience - Give the kids details about Santa and his workshop. Kids get to see Santa and help him makes toys. 
  • Walnut Canyon National Monument - Cliff dwellings of the Sinagua Indians, built in alcoves in the sandstone walls of a deep, wooded canyon near Flagstaff. Located about 10 mi (16 km) southeast of downtown Flagstaff, Arizona, near Interstate 40. 
  • Buffalo Park - Perfect walk to enjoy the outdoors, fresh air and close mountain views. Many Trails for all ages and even dogs. Plus the beautiful views of the San Francisco Peaks.

Dining Nearby

Nearby restaurants include The Horsemen Lodge Steakhouse, a relaxed cowboy-themed steakhouse offering all-day dining & an endless soup & salad bar. Another quick stop is at Coppa Cafe and Bistro. If you're in town you must try pizza with soppresetta, pistachio and honey at the Fat Olives

Schools

Children in this community typically go to the following nearby schools:

  • Sturgeon Cromer Elementary School PK-5
  • Sinagua Middle School 6-8
  • Coconino High School 9-12

Brandis Map 33 Neighborhood Information 

Visit the Brandis Map 33 area page to know more about homes in this area.

Contact Kelly Broaddus at kelly.broaddus@exprealty.com or call 888-4465602 to see this excellent family home in Brandis Map 33 or other houses for sale in Flagstaff.

 

Search for Homes in Flagstaff, Arizona

Flagstaff Homes for Sale Below $500,000

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Aug. 7, 2018

Renters for a Weekend or a While: What’s the Best Use of Your Flagstaff Investment Property?

Renters for a Weekend or a While: What’s the Best Use of Your Flagstaff Investment Property?

 

The residential rental market is now the fastest-growing segment of the housing market. In the United States, the demand for single-family rentals, defined as either detached homes or townhouses, has risen 30 percent in the past three years.1 And in Canada, rental units now account for nearly one-third of the country’s homes, with particular demand for multi-family units, including apartments and condominiums.2

 

At the same time, the short-term, or vacation rental market is also booming. The popularity of online marketplaces like Airbnb, HomeAway, and VRBO has helped the short-term rental market become one of the fastest-growing segments in the travel industry.3

 

Now, more than ever, there is an abundance of opportunity for real estate investors. But which path is best: leasing your Flagstaff property to a long-term tenant, or renting your property to travelers on a short-term basis?

 

In this post, we examine the differences between the two investment strategies and the benefits and limitations of each category.

 

 

WHY INVEST IN A RENTAL PROPERTY in FLAGSTAFF? The Top 5 Reasons

 

Before we delve into the differences between long-term and short-term rentals, let’s answer the question: “Why invest in a rental property at all?”

 

There are five key reasons investors choose real estate over other investment vehicles:

 

  1. Appreciation

 

Appreciation is the increase in your property’s value over time. And history has proven that over an extended period, the cost of real estate continues to rise. Recessions may still occur, but in the vast majority of markets, the value of real estate does grow over the long term.

 

  1. Cash Flow

 

One of the key benefits of investing in real estate is the ability to generate steady cash flow. Rental income can be used to pay the mortgage and taxes on your investment property, as well as regular maintenance and repairs. If appropriately priced in a solid rental market, there may even be a little extra cash each month to help with your living expenses or to grow your savings.

 

Even if you only take in enough rent to cover your expenses, a rental property purchase will pay for itself over time. As you pay down the mortgage every month with your rental income, your equity will continue to increase until you own the property free and clear … leaving you with residual cash flow for years to come.

 

  1. Hedge Against Inflation

 

Inflation is the rate at which the general cost of goods and services rises. That means as inflation rises, the money you have sitting in a savings account will buy less tomorrow than it will today. On the other hand, the price of real estate typically matches (or often exceeds) the rate of inflation. To hedge or guard yourself against inflation, real estate can be a smart investment choice.

 

  1. Leverage



    Leverage is the use of borrowed capital to increase the potential return of an investment. You can put a relatively small amount down on a property, finance the rest of the investment with a mortgage, and then profit on the entire combined value.
     
  2. Tax Benefits

    Don’t overlook the tax benefits that can come with a real estate investment, as well. From deductions to depreciation to exemptions, there are many ways a real estate investment can save you money on taxes. Consult a tax professional to discuss your particular circumstances.

 

These are just a few of the many perks of investing in real estate. (For more detailed information, visit our previous post: Why Real Estate Investing Makes (Dollars and) Sense.) But what’s the best strategy to maximize returns on your investment property? In the next section, we explore the differences between long-term and short-term rentals.


 

FLAGSTAFF'S LONG-TERM (TRADITIONAL) RENTAL MARKET

 

When most people think of owning a rental property, they imagine buying a home and renting it out to tenants to use as their primary residence. Traditionally, investors would use their rental property to generate an additional stream of income while benefiting from the property’s long-term appreciation in value.

PROS

  • In fact, that steady and predictable monthly cash flow is one of the key advantages of owning a long-term rental.
  • And as an owner, you don’t usually have to worry about paying the utility bills or furnishing the property—both of which are typically covered by the tenant.
  • Add to this the fact that traditional tenants translate into less time and effort spent on day-to-day property management, and long-term rentals are an attractive option for many investors.

CONS

  • However, there are also limitations to long-term rentals, which often come down to your ability to control the property. Perhaps the most obvious one is that you do not get to use the home or closely monitor its upkeep (this is different from a short-term rental, which we’ll share in the next section).

 

  • In addition, while you can usually generate a steady, predictable income stream with a long-term rental, you are limited in your ability to adjust rent prices based on increasing or seasonal demand. Therefore, you may end up with a lower overall return on your investment. In fact, according to data from Mashvisor, in the 10 hottest real estate markets, short-term rentals produced “significantly higher rental income” than long-term rentals.4

 

 

FLAGSTAFF'S SHORT-TERM (VACATION) RENTAL MARKET

 

Short-term rentals are often referred to as vacation rentals, as more and more travelers enjoy the benefits of staying in a home while on vacation. In fact, according to Wells Fargo, vacation rentals are steadily growing and predicted to account for 21% of the worldwide accommodations market by 2020.5

PROS

Investing in a short-term rental or funding your second-home purchase by renting it out can offer many benefits. If you purchase an investment property in a top travel destination or vacation spot, you can expect steady demand from travelers while taking advantage of any non-rented periods to enjoy the home yourself. In addition to greater control over how your property is used, you can also adjust your rental price around peak travel demand to maximize your returns.

CONS

But short-term rentals also have risks and drawbacks that may dissuade some investors. They require greater day-to-day property management, and owners are typically responsible for furnishing the property, upkeep, and utilities.

 

And while rental revenue can be higher, it can also be less predictable based on seasonal or consumer travel trends. For example, a lack of snowfall during ski season could mean fewer bookings and lower rental revenue that year.

 

In addition, laws and limitations on short-term rentals can vary by region. And in some areas, the regulations are in flux as residents and government officials adapt to a new surge in short-term rentals. So make sure you understand any existing or proposed restrictions on rentals in the area where you want to invest.

Urban centers or suburban communities may be more resistant to short-term renters, thus more likely to pass future limitations on use. To lower your risk, you may want to consider properties in resort communities that are accustomed to travelers. We can help you assess the current regulations on short-term rentals in our area. Or if you’re interested in investing in another market, we can refer you to a local agent who can help.

 

 

WHICH INVESTMENT STRATEGY IS RIGHT FOR YOU?

 

Now that you understand these two real estate investment options, how do you pick the right one for you? It’s helpful to start by clarifying your investment goals.

 

If your goal is to generate steady, predictable income with less time and effort spent on property management, then a long-term rental may be your best option. Also, if you prefer a less-risky investment with more reliable (but possibly lower) returns, then you may be more comfortable with a long-term rental.

 

On the other hand, if your goal is to purchase a vacation or second home that you’ll use, and you want to defray some (or all) of the expense, then a short-term rental may be a good option for you. Similarly, if you’re open to taking on more risk and revenue volatility for the possibility of greater investment returns, then a short-term rental may better suit your spirit as an investor.

 

But sometimes the decision isn’t always so clear-cut. If your goal is to purchase a future retirement home now to hedge against inflation, rising real estate prices, and interest rates, then both long- and short-term rentals could be suitable options. In this case, you’ll want to consider other factors like location, market demand, property type, and your risk tolerance.

 

 

FLAGSTAFF OR ELSEWHERE … WE CAN HELP

 

If you’re looking to make a real estate investment—whether it’s a primary residence, investment property, vacation home, or future retirement home in Flagstaff and the nearby communities—give us a call. We’ll help you determine the best course of action and share insights and resources to help you make an informed decision. And if your plans include buying outside of our area, we can refer you to a local agent who can help. Contact us at 888.446.5602 to schedule a free consultation!

 

Tap to call button.

 

The above references an opinion and is for informational purposes only.  It is not intended to be financial advice. Consult the appropriate professionals for advice regarding your individual needs.

DOWNLOAD YOUR FREE REPORT

Renters for a Weekend or a While: What’s the Best Use of Your Investment Property?

 

Sources:

  1. USA Today –
    https://www.usatoday.com/story/money/personalfinance/real-estate/2017/11/11/renting-homes-overtaking-housing-market-heres-why/845474001/
  2. The Globe and Mail –
    https://www.theglobeandmail.com/real-estate/the-market/article-demand-for-rental-housing-in-canada-now-outpacing-home-ownership/
  3. Phocuswright –
    https://www.phocuswright.com/Travel-Research/Research-Updates/2017/US-Private-Accommodation-Market-to-Reach-36B-by-2018
  4. Rented.com –
    https://www.rented.com/vacation-rental-best-practices-blog/do-long-term-rentals-or-short-term-rentals-provide-better-investment-returns/
  5. Turnkey Vacation Rentals –
    https://blog.turnkeyvr.com/short-term-vs-long-term-vacation-rental-properties/

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July 31, 2018

Three in a row: Flagstaff Realtor Kelly Broaddus Once Again Brings Home National Honor

by Joselyn Uy

Phoenix, Arizona July 31, 2018

Broker Agent Advisor

Broker/Agent™ Advisor Honors Kelly Broaddus Achievement in 2018

 

Now in its 23nd year, Broker/Agent™ Advisor celebrates the success and accomplishment of the industry’s finest real estate professionals through it’s exclusive ‘Certificate of Excellence’ Program.

 

Through proprietary criteria, formulas, and other valuable considerations, Kelly Broaddus of eXp Realty has been distinguished by Broker/Agent™ Advisor as one of the best in business based on achievement, potential, leadership, ethics, community value, experience, capability, and trust for their service during the calendar year of 2018. 

 

This is the third straight year that Kelly Broaddus won the Certificate of Excellence award from Broker/Agent™ Advisor.   “With over $10M in closed transactions in 2018, Kelly exemplifies the type of professional we designed this award for,” says Chad Golladay, Executive Publisher of Broker/Agent™ Advisor. “A true credit to their company, profession, and community both inside and outside of their real estate practice; one with whom the honor is truly ours in being able to share this award.”

 

There is no cost or fee required for this award, and all applicant’s credentials are verified, which makes this honor one of the most genuine in the industry towards identifying those truly worthy of special recognition and distinction.

 

Kelly Broaddus can be found in Broker/Agent™ Advisor's national online directory of award recipients here: http://brokeragentadvisor.com/brag-directory

 

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More About Broker/Agent™ Advisor

Established in 1996 Broker/Agent™ is a real estate trade publication which provides information, tools, and resources to assist the modern real estate professional in achieving greater success through their real practice. Discover more about our award program here...  http://brokeragentadvisor.com/brag

 

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About Kelly Broaddus

Kelly Broaddus, an associate broker, leads the Kelly Broaddus Real Estate Advisors Team with eXp Realty. It is a top producing real estate team based in Flagstaff, AZ offering real estate solutions to homebuyers and sellers in Flagstaff, Sedona, Cornville, Williams and nearby areas. 

 

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About eXp Realty

eXp Realty, LLC, the largest residential real estate brokerage by geography in North America, is an agent-designed and agent-owned company. As the leading, national, cloud-based real estate brokerage, eXp Realty provides 24/7 access to collaborative tools, training, and socialization for real estate brokers and agents through its virtual campus environment. It is one of the fastest growing real estate brokerage firms in North America with more than 8,000 agents in 47 U.S. states, the District of Columbia and the provinces of Alberta and Ontario, Canada. As a publicly traded company, eXp World Holdings, Inc. uniquely offers real estate professionals within its ranks opportunities to earn company stock for production and contributions to overall company growth.

For more information, please visit sevenfigureagentaskmehow.com

 

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July 25, 2018

Flagstaff AZ Real Estate Market Update- June 2018

Flagstaff AZ Real Estate Market Data Provided by The Kelly Broaddus Real Estate Advisors Team / by Joselyn Uy

 June 2018 Flagstaff Home Sales

Flagstaff  Home Sales & Prices  Hit New Highs

Wow! Half the year is over and we are still experiencing one exciting/busy real estate month after another. The Kelly Broaddus team had a very productive 1st half selling over $10M of Flagstaff and nearby area real estate. 30 properties in 6 months!

US home sales dropped for the third straight month due to the severe housing shortage in several areas. Meanwhile, in Flagstaff, both housing prices and sales in the greater Flagstaff region hit new highs for the first half of 2018.

FLAGSTAFF HOME SALES

Single-family home sales in the Flagstaff region rose for the fourth straight month this year to record the highest June sales in a decade. Sales volume in June 2018 was very strong with sales rising 13% versus last year. 

FIRST HALF STATS Let us take look at home sales & prices for the first six months of the past 5 years. First Half home sales in the greater Flagstaff area has once again accelerated after last year's so-so performance. There were a total of 561 houses sold in the first half of the year which is up 17% from 2017. This is a new record high.

Chart- Flagstaff Single Family Home Sales Over Time

 

FLAGSTAFF HOME PRICE

Housing prices in the greater Flagstaff region continue to rise. The median sale price of a single-family home rose 7% to $387K in June 2018. 

Flagstaff Median Home Price and Days on Market June 2018

For the first six months prices jumped 5% compared to the first half of 2017. The first half median sale price came in at $385K which is the highest in 10 years. 

 

June 2018 Flagstaff Market Watch Summary 

 

2018 Flagstaff Real Estate Market Watch Total Home Sales-  145 homes, up 13% vs June 2017. 

Median Home Price-  $387,000 up 7% up vs June 2017

Mortgage rates up - A 30 year fixed rate mortgage with 5% down and very good credit rose to an average of 4.52% 

Median days on market:  61 days

Longest days on market: 570 days

CDOM The acronym CDOM (Cumulative Days on Market) is used by the Flagstaff MLS to describe how many days a property has been available for sale. A property has to be off the MLS for at least 90 days for the CDOM to restart, even if it is listed by a different agent. We report the average days on market for properties sold based on CDOM.

The number of days a home sits on the market can tell us a lot about pricing. A high CDOM is commonly a strong indicator that the home is overpriced. 

JUNE 2018 HIGHLIGHTS 

Flagstaff Priciest Luxury Homes (SOLD)

  • $1,800,000 - The most expensive home sold that sold in June 2018 is another luxury custom home in Forest Highlands. With over 6,000 sqft of living space, the new owner gets to enjoy this  extraordinary work of art  and the fantastic views from this log home
  • $584,549 Priciest townhome sold last month is a new construction 3 bedroom with 3 decks! Located in the  Switzer Mesa/Ridge area

The most AFFORDABLE  Flagstaff Homes (SOLD)

  • Manufactured home - $100,000 - Located in Kachina, the manufactured home on the lot was moved, no financing. 
  • Single-family - $178,000 - Single level, off-grid 2 bedroom cabin located in the south rural neighborhood, Elk Park Meadows. It features a bunkhouse for guests, a propane tank, and generator.
  • Townhouse - $205,000 - 2 bedroom, single level, "maintained but somewhat dated" townhome  located in Lower Greenlaw
  • Condo - $124,000 - Our listing, a renovated downstairs studio unit at The Arbors (Woodlands Area)

 

INVENTORY

Alexandra Lee - JUne 2018 Home Sales

“While this spring’s sudden rise in mortgage rates [took] up a good chunk of the conversation, it’s the stubbornly low inventory levels in much of the country that are preventing sales from really taking off like they should… Most markets simply need a lot more new and existing supply to cool price growth and give buyers enough choices.” - Sam Khater, Chief Economist for Freddie Mac

DOWNLOAD THE FULL MARKET REPORT HERE

Flagstaff Home Buyer Advice 

If you’re buying, having fewer homes on the market could present a few challenges. Don’t worry! I can help you come up with a strategy to find your next home.  

  • If you are looking to purchase a Flagstaff home under $400K, inventory is up, but not by much. We have around 3 months of inventory. A balanced market has 6 months supply.
  • At $400K-$500K, supply is down to 4.9 months
  • Above $500K, we have even more homes available on the market. No shortage here.

Home Buying Tips Our home buyer's blog will help you plan and prepare for your successful home purchase and avoid headaches and surprises that may arise during the process.

Sign up for free to receive our updates about coming soon properties and homes for sale not listed on the MLS. 

 

Flagstaff Home Seller Advice 

If you are thinking about selling, now may be the time. Demand for your house will be strongest while there is still very little competition (Under 500K) which could lead to a quick sale for a great price.

Best Time To Sell

 

Home Selling Tips Our blog for home sellers has tons of tips to help sell your home faster and add thousands of dollars to your bottom line. Check it out

 

SATISFIED CLIENTS SAY IT ALL. Check out our 5 Star Reviews. 

 

GET IN TOUCH

We are your Flagstaff home experts! Please contact us at 888.446.5602 or email kelly.broaddus@exprealty.com with any questions you might have about this report of the Flagstaff real estate market.  Contact Us

 

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