Jan. 7, 2020

2020 Outlook: Real Estate Market Forecast

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

2020 Outlook Real Estate Market Forecast

We’re in the midst of the longest economic expansion in U.S. history, and economists think there’s still room to grow. A recent survey by the National Association for Business Economics found that experts believe the U.S. economy will remain positive throughout 2020.1

 

Still, given that recessions are a natural (and necessary) part of a business cycle, we know this period of growth will inevitably end. So you may be wondering … how will an eventual recession impact the real estate market?

 

Many Americans assume a recession would lead to a decline in housing prices like we saw during the Great Recession of 2008. But the real estate market crash we experienced wasn’t typical. In fact, the last recession wasn’t typical at all. It was the worst economic downturn since the Great Depression of the 1930s.

 

ATTOM Data Solutions analyzed real estate prices during the last five recessions and found that, in the majority of cases, home prices actually went up. Only twice (in 1990 and 2008) did prices decline, and in 1990 it was by less than one percent.2

 

So what can historical precedent—combined with today’s data—tell us about the future of real estate? Here’s where experts predict the housing market is headed in 2020 and beyond.

 

 

HOME PRICES WILL KEEP RISING

 

Economists predict U.S. housing prices will continue to rise, regardless of a recession. In fact, property data firm CoreLogic forecasts a faster rate of growth for home prices in 2020 than we saw in 2019, with the biggest gains at the lower end of the market.3

 

Arch MI Chief Economist Ralph DeFranco expects entry-level home prices to increase faster than incomes this year, making it even more difficult for many first-time buyers to afford to enter the market.4

 

“Low interest rates and a shortage of starter homes will continue to push up prices,” predicts DeFranco. “This is especially the case for lower price points, since builders have tended to focus on more expensive, higher-profit houses and less on replenishing low inventories of entry-level homes.”4

 

“Real estate is on firm ground with little chance of price declines,” said National Association of Realtors Chief Economist Lawrence Yun. "However, in order for the market to be healthier, more supply is needed to assure home prices as well as rents do not consistently outgrow income gains.”5

 

What does it mean for you? If you have the ability and desire to buy your Northern Arizona home now, don’t let a fear of recession or falling prices hold you in limbo. Economists expect home values, as well as rent prices, to continue rising. So you’ll likely pay more the longer you wait.

 

 

INVENTORY CONSTRAINTS WILL CONTINUE

 

According to Redfin, Americans are staying in their homes longer. In 2019, the average homeowner had resided in their home for 13 years, up from just eight years in 2010. That means there are fewer homes available today for those who want to buy.6

 

It’s possible that an increase in new construction could offer some relief. The National Association of Realtors (NAR) expects single-family housing starts to total one million this year, the highest level since 2007. And NAR Chief Economist Lawrence Yun predicts the average price of new construction will decline slightly as builders shift to building smaller, more affordable homes.7

 

However, these efforts may not be enough to meet current demand. “Despite improvements to new construction and short waves of sellers, next year will once again fail to bring a solution to the inventory shortage,” predicts Realtor.com Senior Economist George Ratiu. “In 2020, we expect inventory to struggle to grow and could instead reach a historic low level.”8

 

What does it mean for you? If you’re looking to buy a starter Flagstaff home, be prepared to compete for the best listings. Start your search early, and if you’re up against a deadline (like a new baby), build in plenty of time to find the right home. We can help you assess your options, including new construction and up-and-coming developments.

 

2020_Outlook_Real_Estate_Market_Forecast_Image_B

MORTGAGE RATES WILL REMAIN LOW

 

Mortgage rates have declined more than a full percentage point since November 2018, when they hit a recent peak of 4.94%.9 The Mortgage Bankers Association predicts rates will remain low, at around 3.7%, through mid-2021.10

 

While it may not seem significant, on a $200,000 30-year fixed-rate mortgage, that lower rate means buyers could save around $145 on their monthly payment and more than $52,000 over the life of their mortgage. Lower mortgage rates make homeownership more accessible and affordable for buyers.

 

Although economists expect mortgage rates to stay low, they caution against waiting to act. Economic factors, shifts in supply and demand, or unforeseen impacts of the November election could cause rates to rise unexpectedly. “We recommend borrowers with long-term plans of staying in their homes to lock in a low rate now because there’s no telling how long these low rates will last,” warns Preetam Purohit, a capital markets trader at Embrace Home Loans.11

 

What does it mean for you? If you’re looking to buy a home, act soon to lock in a historically low mortgage rate. It will minimize your monthly payment and could save you a bundle over the long term. And if you plan to stay in your current home for a while, consider whether it makes sense to refinance your mortgage at today’s lower rates.

 

 

MILLENNIALS WILL DRIVE THE MARKET

 

Millennials are expected to account for more than half of all mortgages this year, outnumbering Generation X and Baby Boomers combined. It’s not surprising, considering their age and stage of life. In 2020, the largest cohort of millennials will turn 30, and the oldest millennials will turn 39.8

 

"Family changes tend to drive home-buying decisions," explains Realtor.com Chief Economist Danielle Hale. "Millennials are going to be active in the housing market not just because they're just at the age when they're thinking about becoming first-time home buyers, but they're also in the age range when they're having kids."12

 

Younger millennials flocked to urban centers that offered easy access to work, shopping, and restaurants. But high prices, lack of square footage, and subpar schools are driving millennials out to the suburbs as they begin to marry and expand their families.

 

In response, a new model for suburban living has emerged. “Hipsturbias,” or mixed-use communities that bring the live/work/play concept to the suburbs, were recently named one of the top real estate trends for 2020 by the Urban Land Institute.4

 

What does it mean for you? If you’re a millennial who has been priced out of urban living or is looking for more space for your growing family, a number of suburbs in our area have a lot to offer. We can point you towards the communities that will best meet your needs. And if you’re a homeowner with plans to sell, give us a call. We know how to market your home to millennials … and can help you sell quickly for top dollar by appealing to this leading market segment!

 

 

WE’RE HERE TO GUIDE YOU


While national real estate numbers can provide a “big picture” outlook, real estate is local. As Northern Arizona market experts, we can guide you through the ins and outs of the Flagstaff & Sedona market and the issues most likely to impact sales and home values in your particular neighborhood.

 

If you’re considering buying or selling your Flagstaff/Sedona home in 2020, contact us now to schedule a free consultation. We’ll work with you to develop an action plan to meet your real estate goals this year. Call Kelly at 888.446.5602 or email kelly.broaddus@exprealty.com

 

START PREPARING TODAY


If you plan to BUY this year:

 

  1. Get pre-approved for a mortgage. If you plan to finance part of your home purchase, getting pre-approved for a mortgage will give you a jump-start on the paperwork and provide an advantage over other buyers in a competitive market. The added bonus: you will find out how much you can afford to borrow and budget accordingly. The Flagstaff Home Buyer's Guide to Getting Mortgage Ready
  2. Create your wish list. How many bedrooms and bathrooms do you need? How far are you willing to commute to work? What’s most important to you in a home? We can set up a customized search that meets your criteria to help you find the perfect home for you. Should You Buy a New or Existing Flagstaff Home?
  3. Call Us. The buying process can be tricky. We’d love to guide you through it. We can help you find a home that fits your needs and budget, all at no cost to you. Give us a call to schedule an appointment today!

 

If you plan to SELL this year:

 

  1. Contact Kelly for a FREE Comparative Market Analysis. A CMA not only gives you the current market value of your home, it will also show how your home compares to others in the area. This will help us determine which repairs and upgrades may be required to get top dollar for your property, and it will help us price your home correctly once you’re ready to list. Will Your Remodel Pay Off? The Best (and Worst) Ways to Spend Your Budget
  2. Prep your home for the market. Most buyers want a home they can move into right away, without having to make extensive repairs and upgrades. We can help you determine which ones are worth the time and expense to deliver maximum results. Serious About Selling? 5 Steps to Make Your Flagstaff Home the Best on the Block
  3. Start decluttering. Help your buyers see themselves in your home by packing up personal items and things you don’t use regularly and storing them in an attic or storage locker. This will make your home appear larger, make it easier to stage ... and get you one step closer to moving when the time comes! Top 6 Home Organization Upgrades that "Spark Joy" for Flagstaff Home Buyers

 

Sources:

  1. NBC News -
    https://www.nbcnews.com/business/economy/what-impending-recession-new-survey-shows-most-people-think-they-n1098511
  2. Curbed -
    https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates
  3. HousingWire  -
    https://www.housingwire.com/articles/corelogic-expects-home-prices-to-do-this-in-the-next-12-months/
  4. Forbes -
    https://www.forbes.com/sites/alyyale/2019/11/15/2020-housing-outlook-expert-predictions-for-mortgage-rates-home-prices-tech-and-more/#343ea4522935
  5. National Association of Realtors -
    https://www.nar.realtor/newsroom/expect-continued-economic-growth-slower-real-estate-price-gains-and-small-chance-for-recession-in
  6. Redfin -
    https://www.redfin.com/blog/homeowners-staying-in-their-homes-longer/
  7. HousingWire -
    https://www.housingwire.com/articles/builders-are-coming-to-the-housing-markets-rescue/
  8. Realtor.com -
    https://www.realtor.com/research/2020-national-housing-forecast/
  9. YCharts -
    https://ycharts.com/indicators/30_year_mortgage_rate
  10. MBA Mortgage Market Forecast November 2019  -
    https://www.mba.org/news-research-and-resources/research-and-economics/forecasts-and-commentary
  11. Dallas Morning News -
    https://www.dallasnews.com/sponsored/real-estate/2019/11/23/experts-predict-where-mortgage-interest-rates-land-in-2020/
  12. Realtor.com -
    https://www.realtor.com/news/trends/biggest-changes-coming-in-2020-real-estate-and-tips-for-buyers-and-sellers/

 

Dec. 27, 2019

Flagstaff AZ Real Estate Market Update- November 2019

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

 

Dec 2019 Flagstaff Real Estate Market Update

 

Strong Flagstaff Home Sales in November 

Have a wonderful holiday and a healthy and prosperous New Year! With 2020 just a few short days away, I thought I’d send you a quick note on what’s happening with the Flagstaff housing market. Next month we’ll look at how we did for 2019.

FLAGSTAFF HOME SALES

The US Existing home sales fell by 1.7% in November 2019 while the Flagstaff real estate home sales fell 1.8% vs October 2019 numbers. We typically expect to see a seasonal slide in inventory and buyer activity in the 4th quarter of the year, however, November was a very strong month. November housing sales in the greater Flagstaff region actually rose 29% to hit a new monthly high. There were 108 sales this November versus 84 a year ago. 

FLAGSTAFF MEDIAN HOME PRICE

2019 Median Days on Market Median Sold Price

November housing prices rose 8% from a year ago which is also a new high. This November the median sale price for single-family homes was $422K and last November it was $392K. Year-to-date, through November prices are up 10% and sales are running slightly ahead of last year. The average price paid per-square-foot was $226 this November which is also a new monthly high. This is the best November sales in the last 5 years for the Kelly Broaddus Team with 3 closings at over $2.2M. 

DOWNLOAD THE FULL MARKET REPORT HERE

 

FLAGSTAFF HOUSING SUPPLY 

Flagstaff inventory of affordable homes has been going down over the last three months. 

  • There are 50+ homes available, including manufactured homes Under $300K 
  • There are 80+ houses available in the $300K to $400,000 range
  • 30+ houses available to purchase in the $400K to $450K range
  • Inventory in the luxury segment has also declined but still favors buyers in most price ranges.

November 2019 Flagstaff Market Watch Summary

Total Home Sales -     108 homes (SF), 29% up vs November 2018. 

Median Home Price -  $ 425,000 (SF),  vs November 2018

Mortgage rates  - Today, the average U.S. rate for a 30-year fixed mortgage is 3.635%  

Longest days on market (SF):  891 days new build 3 bedroom home in Presidio

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. 

 

FLAGSTAFF'S PRICIEST HOMES in NOVEMBER 2019 (SOLD)

  • $2,000,000  - This 5 bedroom single level luxury home is located on a private cul-de-sac golf course lot just off of the 1st Green in exclusive Pine Canyon. This is the 5th most expensive homes sold in Flagstaff in 2019. A 3.8M Pine Canyon home sold in April 2019  holds the number 1 position on our 2019 Flagstaff's most expensive list.
  • $510,000  - Last month's priciest townhouse is a stunning, upgraded, 2336 square feet home backing open space in Pinnacle Pines
  • $255,000 - Last month's most affordable condo is located in Summit Park

MOST AFFORDABLE  FLAGSTAFF HOMES SOLD in NOVEMBER 2019

 

Home Buyer Advice 

Did you know that your purchasing power has increased? Even though prices are going up because interest rates are low and because wages are going up, people can purchase more of a home. New loan limits for case numbers assigned on or after January 1, 2020, have also increased. 

  • Conventional loan – limit for 1 unit properties increase to $510,400 up from $484,350 in 2019
  • FHA – new loan limits for SFR $331,760.00 up from  $314,827.00. 

If inventory continues to decline relative to demand, however, it is likely that we will upward pressure on pricing. 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. Let's talk about your situation in person! Call Kelly at 888.446.5602

If you’re currently renting, 2020 may be a great time to think about making a jump into homeownership while mortgage rates are low. Now is a great time to lock in a low mortgage rate. It will shrink your monthly payment and could save you a bundle over the long term. Or if you plan to stay in your current home for a while, consider whether it makes sense to refinance your mortgage at today’s lower rates.

MOrtgage Rates at Historic Lows

Move-up buyers, if you’re ready to trade in your starter home for something more luxurious, you may get the best of both sectors. We’re still witnessing a strong demand for entry-level homes, giving sellers the upper hand.

Luxury buyers, buyers of high-end homes still have a greater selection (and more negotiating power). 

[Here's what you need to know about the mortgage process.]

Flagstaff Home Seller Advice 

It's a great time to sell! It's still a seller's market in Flagstaff for homes under $600,000 with less than 3 months of housing supply. Experts are saying that home prices will continue to go up and Americans, based on the latest survey by Porch.com, believe that real estate is still a safe investment over the next 10 years. So what we have is a market that buyers are increasing, even though it’s the winter, not the spring buying season. There are people out there buying homes. 

Some homes sell as soon as it gets on the market. Some expire. Why didn’t those houses sell?

  1. It could be the condition of the house. If it is, we might be able to help stage it or suggest minor renovations that would help amp up the resale value of your Flagstaff home.
  2. It could be the price, the previous realtor may have given them the wrong price. Let's get you an updated market analysis of your home. What’s Your Flagstaff Home Actually Worth? Discover What Buyers Will Pay in Today’s Market
  3. It could be that the realtor had no marketing plan for the house. The Consumer’s Guide to Hiring an Amazing Real Estate Agent
  4. And it could be that during a very rapidly evolving market, there was no real good communication between the seller and that agent. 

 

GET IN TOUCH

If you’re thinking about selling now, let’s get started. From hiring the right real estate agent to handing over the keys, here is your step by step guide to the home selling process. Let’s get together to determine the specific options available for you and your family. Contact 928.606.6749 or email kelly.broaddus@exprealty.com if you are looking for a Northern Arizona realtor to help you buy/sell your Flagstaff/Sedona real estate and the surrounding areas. 

We at The Kelly Broaddus Team with eXp Realty know that the only result that ultimately matters is that your home gets sold — and sold for the right amount. Satisfied clients say it all. Check out our 5 Star Reviews.

 

 

You Might Be Interested In:

 What is the value of your Flagstaff Home?

What is My Flagstaff Home Worth?

 oCTOBER 2019 Flagstaff Market Statistics

 

Dec. 13, 2019

3074 S Hannah Lane, Flagstaff, AZ 86001

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

3074 S Hannah Lane, Flagstaff, AZ 86001

Exquisite Townhome with views of Peaks and Ponderosa Pines!

3 BD | 3 BA | 2,149 Sq Ft

This lovely Pinnacle Pines home offers 3 bedrooms, each on its own level with its own full bathroom, the lower level bathroom is also a guest bathroom. Features include upgraded flooring, Wolf gas cooktop, white shaker cabinetry, granite counters, glass tile backsplash in kitchen, corner fireplace in the living room, lovely balcony off the master suite - and much more! On the main level, enjoy living, dining, and kitchen as well as access to the covered patio. The fenced backyard provides a view and fencing to HOA-controlled forested land to enjoy. The master suite on the top level has a balcony to sit and enjoy the forest out of your backyard! The master bath has a separate shower/tub, dual vanities, and a large walk-in closet.

Photos and more information here: https://www.northernarizonafinehomes.com/property/179870/

Take a Virtual Tour: https://www.tourfactory.com/2687739

See all Homes For Sale in Pinnacle Pines

Location

3074 South Hannah Lane

Car-Dependent

Explore Pinnacle Pines Flagstaff

Amusement & Recreation 

There is a wide range of amusement and recreation activities for Pinnacle Pines residents.

  • 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.
  • Flagstaff Extreme Adventure Course - Adventure Course has (7) different courses and they train you first on the Demo course. Very professional place, and all about safety. The second course is Adventure zip lines, which was closed and being checked by the professionals. They also have a Kids Course too.
  • North Pole Experience - Give the kids details about Santa and his workshop. Kids get to see Santa and help him makes toys.

Dining Nearby

Nearby restaurants include The Northern Pines, it's very conveniently located at the intersection of the I-17 and I-40. You must try pizza with soppresetta, pistachio and honey at the Fat Olives. Looking for an unusual menu with great range of flavors? Nomads Global Lounge a great place for you.

Nearby Schools

  • Lura Kinsey Elementary School - PK-5
  • Mount Elden Middle School 6-6
  • Flagstaff High School 9-12

 

Directions: Travel south on Lone Tree, turn east on Zuni, south on Masonic, right on Sterling, follow till Hannah Lane, turn right home is at end of street.

Pinnacle Pines Neighborhood Information

Nestled within the largest Ponderosa Pine Forest in the world, this neighborhood sits atop a hillside with breathtaking San Francisco Peaks views. Easy access to walking, hiking and biking trails. Close to I 17 & I40, within biking distance to shops and downtown, near Lake Mary, NAU, and Aspen Place. Pinnacle Pines HOA fees cover exterior maintenance including paint, roof and front landscaping.

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

 

Search for Homes in Flagstaff, Arizona

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Dec. 12, 2019

351 N Skyview Street, Flagstaff, AZ 86004

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

See all homes for sale in Lakeside Acres

351 N Skyview Street, Flagstaff, AZ 86004

Stunning Contemporary Masterpiece on 3 Acres with Awe-Inspiring San Francisco Peaks Views

3 Bed | 3.75 Baths | 4,697 Sq Ft 

Situated on over 3 wooded acres with awe-inspiring views of the San Francisco Peaks, this soft contemporary home provides every imaginable update. Built in the finest fashion this beauty sports over 5000 square feet of living space, an open floor plan offering 2 master suites, a third bedroom, chefs dream kitchen with separate eat-in area, formal dining room, living room with wet bar, gated entrance, enclosed courtyards, a beautiful dog park with ponds and rivers, an exercise room and an endless pool! Enjoy the massive 3 car garage and if you need more room, there is room to expand!! Plans available. Request a detailed list of upgrades and your private showing by appointment only.

Photos and more information here: https://www.northernarizonafinehomes.com/property/179871/

Take a Virtual Tour: Coming soon

Exterior Updates:

351 N Skyview Street, Flagstaff, AZ 86004

  • LANDSCAPING: Artificial grass in the backyard, courtyard, dog park,
  • Rivers and pond added around the dog park
  • NEW ROOF
  • Filled in the Backyard Grill Pit with an Endless Pool
  • Installed a New Grill

Interior Updates

  • REPLACED CARPET WITH TILE
  • ENCLOSED WALKWAY THAT EXTENDED OFF OF MASTER BEDROOM
  • OFFICE REMODEL: Flooring, Wall Units, Door Safe
  • Family Room Entertainment Wall 
  • Updated the Bar Area with Wallpaper
  • New Water Softener System

Location

351 North Skyview Street

Car-Dependent

Explore Lakeside Acres in Flagstaff

 

Dining Nearby

Looking for an unusual menu with a great range of flavors? Nomads Global Lounge a great place for you. Delhi Palace is a top-rated Indian restaurant in Flagstaff and you must give it a try. This 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.

 

Attractions & Recreation

  • Lowell Observatory- Astronomical observatory where the planet Pluto was discovered.  Enjoy the live indoor astronomy presentations about eclipses; the sun; and the galaxies. Very kid/family-friendly.
  • Walnut Canyon National Monument - features prehistoric archaeological sites that are spectacularly located in cliffs and along the rim of Walnut Canyon. 
  • Museum of Northern Arizona - Excellent local museum, lots of native American archeology and Anasazi artifacts.

Schools

  • Thomas M Knoles Elementary School PK-5
  • Mount Elden Middle School 6-8
  • Coconino High School 9-12

Lakeside Acres Neighborhood Information

Luxury, non-gated, acreage within city limits, horses allowed! The views are amazing. Surrounding Lake Elaine is the Lakeside Acres subdivision. All homes in this area are on an acre or more. Some homes offer stunning views of the lake as well as fantastic views of the San Francisco Peaks. Lakeside Acres homeowners enjoy all of the amenities of Continental Country Club.  Close to trails, Flagstaff Mall, Safeway and just minutes from downtown and NAU.

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

 

Search for Luxury Homes in Flagstaff, Arizona

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Dec. 6, 2019

Gifts and Gadgets for Every Room in Your Flagstaff House

Kelly Broaddus |  888.446.5602  | Contact Kelly

Gifts and Gadgets for Every Room in the House

 

Are you searching for new and innovative gift ideas this holiday season? If so, check out our list of the hottest home technology offerings. We’ve selected a few of our favorites for every room in the home.

 

These smart systems and devices add comfort, convenience, and a “cool factor” that will delight your friends and family.  So think about who you know that loves the latest gadgets … or add a few of these to your own wish list!

 

 

ENTRYWAY

Ensure the safety of your loved ones with these smart security upgrades.

 

Smart Lighting

Ring, a company best known for its video doorbells, has added smart lights to its series of integrated devices. The Ring Smart Light System includes motion sensors, pathlights, spotlights, and even step lights, which can be turned on and off using voice commands when paired with an Amazon Alexa device. Users may opt to receive a notification when motion is detected on the premises, and—if integrated with Ring security cameras—access a live video stream for an added layer of security. Systems start at $69.99.

 

Video Doorbell

Video doorbells have become an increasingly popular security enhancement for homes, and for a good reason. Homeowners can detect activity at their front door while away, view visitors via video stream, and communicate without opening the door. Since Ring released its first smart doorbell in 2013, a number of competitors have entered the market. The Nest Hello Video Doorbell has some unique features—like facial recognition, package detection, and pre-recorded quick responses—that place it near the top of the pack. Retails for $229.

 

Smart Lock

Smart locks are a great way to ensure your friends and family are never left out in the cold, and the August Smart Lock Pro+ Connect is among the most highly rated. It’s one of the easiest models to install because it pairs with an existing deadbolt. The Smart Lock Pro enables a user to lock and unlock their door remotely with an app on their phone. And with the auto-lock/unlock feature, it can be set to open automatically upon approach and relock after entry. Retails for $279.

 

 

 

LIVING ROOM

These fun and functional gifts are perfect for anyone who is big on style—but short on time.

 

Automated Planter

Caring for household plants is easier than ever with the latest advancements in technology. Perfect for frequent travelers or forgetful friends, the Dewplanter uses moisture in the air to water plants without manual intervention. Now nature lovers can enjoy the beauty and health benefits of houseplants without the hassle. Plus, for each unit sold, the company pledges to plant a tree somewhere it’s needed. Retails for $69.50.

 

Smart Art

Instead of buying your favorite art lover a single painting, why not give him or her 30,000? With the Meural Canvas, you can access an extensive collection of artwork from around the world to display digitally in your own home. Meural utilizes proprietary technology to deliver an anti-glare matte display that automatically adjusts to the lighting in the room. Personal artwork and photographs can be showcased, as well. Retails for $445 with annual membership.

 

Motorized Shades

Motorized window coverings aren’t new, but a lower price point and enhanced features have helped to boost their popularity. The latest Motorized Shades from Somfy can be preprogrammed to raise or lower at certain times of day or controlled on-demand via a remote, smartphone app, or voice command when paired with Amazon Alexa or Google Home. They can also be set to operate automatically in response to the amount of sunlight or temperature of the room. Contact a dealer for pricing.

 

Gifts and Gadgets for Every Room in the House

 

KITCHEN

These kitchen gadgets make life a little easier and a lot more enjoyable. They’re perfect for your busiest friends and family members!

 

Pressure Cooker

Have you jumped on the multi-cooker bandwagon yet? If so, you know how fast and simple these multifunctional appliances make meal preparation. The InstantPot Duo is a pressure cooker, sauté pan, steamer, slow cooker, rice cooker, food warmer, and yogurt maker all-in-one. It reduces cooking time and lowers energy consumption. Who wouldn’t love one of these versatile tools? With numerous cookbooks and blogs devoted to InstantPot recipes, the meal options are virtually endless. Retails for $99.95.

 

Cocktail Machine

Cocktail connoisseurs will appreciate the ease and convenience of the Bartesian Premium Cocktail Machine. Listed among “Oprah’s Favorite Things” for 2019, the Bartesian mixes drinks with the touch of a button. Simply fill the canisters with base spirits, choose a cocktail capsule, and the machine does the rest. Now you can mix a margarita, whiskey sour, cosmopolitan, and other favorites as easily as you brew a cup of coffee. Retails for $349.

 

Smart Refrigerator

Kitchens are often called the “heart of the home,” and a new refrigerator from Samsung aims to be the hub. The Samsung Family Hub Refrigerator helps busy families stay organized. Grocery shopping becomes a breeze with built-in cameras that allow owners to peek inside their fridge from anywhere. The interactive touchscreen displays pictures, notes, and reminders for family members. And the integrated SmartThings app enables users to control smart devices and appliances from a central point. Base model starts at $3,099.

 

 

BEDROOM

Almost nothing beats a good night’s sleep. Help your loved ones wake up refreshed with these smart devices for the bedroom.

 

Baby Sleep Soother

As any parent knows, when your baby isn’t getting sleep, neither are you. Help everyone in the family catch some z’s with a Bubzi Co Soothing Owl. This cuddly creature plays lullabies while projecting a starry scene on the bedroom wall to calm young children and help them drift off to sleep. And for every purchase, Bubzi Co makes a donation to Postpartum Support International. Retails for $30.95.

 

Sunrise Alarm Clock

Know someone who hates getting up in the morning? Alarm clocks that utilize light instead of a noisy alarm can provide a more peaceful transition in and out of sleep. The Philips SmartSleep Connected Sleep and Wake-Up Light includes customizable sunrise and sunset simulation, guided breathing exercises, and sensors that track room conditions, like temperature, humidity, noise, and light. Retails for $199.95.

 

Smart Thermostat

Temperature fluctuations during the night can disrupt sleep. The Nest Learning Thermostat uses smart technology to track a user’s preferences and build a schedule around them. Homeowners can place one of its integrated sensors in their bedroom to maintain a consistent temperature throughout the night. And Nest thermostats cut energy consumption, so they’ll rest easier knowing they’re saving the planet and money on utility bills . Retails for $249.

 

 

BATHROOM

Bathrooms don’t have to be boring. Technology can add flair to the daily routine.

 

Waterproof Speaker

Music enthusiasts and podcast fans will enjoy streaming their favorites in the shower with a wireless waterproof speaker. The Ultimate Ears Wonderboom 2 is a mid-priced and versatile option that can go from the bath to the beach. It packs an impressive 13-hour battery life in a small, portable case that’s waterproof, dust-proof, and floatable. Retails for $99.99.

 

Digital Smart Scale

A scale isn’t an appropriate gift for everyone, but diet and fitness enthusiasts may appreciate the high-tech features available with the Withings Body+. It tracks weight, body water, and fat, muscle, and bone mass for up to eight users. It can also be set to display local weather and the previous day’s step count. Customized pregnancy and baby modes make this a suitable choice for a growing family, as well. Retails for $99.95.

 

Vanity TV Mirror

For a truly luxe bathroom addition, consider an integrated vanity television mirror. The Seura TV Mirror seamlessly incorporates video into a bathroom vanity. It’s vanishing glass technology makes it possible to view the television through a mirror. When turned off, the screen completely disappears. Add lighting or a custom frame to complete the look. Starts at $3,099 for a 19” display.

 

 

OUR GIFT TO YOU

Are you considering a permanent technology upgrade for your Northern Arizona home? Give us a call first at 888.446.5602! Buyer expectations and preferences vary depending on price point, architectural style, and neighborhood. We can help you determine how the enhancement will impact the value of your home before you make the investment. 

 

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Nov. 27, 2019

Flagstaff AZ Real Estate Market Update- October 2019

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

 

Oct 2019 Market_Stat_Flagstaff_RealEstate

 

Flagstaff Home Sales & Prices Slide in October  

Happy Thanksgiving Flagstaff! Heavy snow and blowing snow is expected, I figured a lot of people would be hunkered down inside today. Stay safe and warm! I would like to share a quick update on the Flagstaff housing market before we all go on vacation for Thanksgiving.

FLAGSTAFF HOME SALES

The US Existing home sales climb by 1.9% in October 2019 while the Flagstaff real estate home sales declined 19% vs September 2019 numbersWe typically expect to see a seasonal slide in inventory and buyer activity in the 4th quarter of the year and this year does not look any different. October housing sales in the greater Flagstaff region remain relatively flat compared to the same month a year ago. There were 110 single-family houses sold in October vs 112 in October 2018.

While Flagstaff home sales are slightly down, this is the 2nd best October sales in the last 5 years for the Kelly Broaddus Team with 7 closings at over $2.5M. 2014 was our best year at almost $4M. Homebuyers have not disappeared, numbers are actually greater than the same month last year but there simply is not enough inventory at their price range.

FLAGSTAFF MEDIAN HOME PRICE

October 2019 Flagstaff Home Price and Days on Market

Greater Flagstaff's October housing prices hit a new monthly high with the median sale price coming in at $426K which is up 6% from the same month last year. The average price paid per square foot was $232 up 10%. The big news, year to date through October, prices have risen 10% from a year ago.

DOWNLOAD THE FULL MARKET REPORT HERE

 

MORTGAGE RATES

EXCITING NEWS!! FHFA (Federal Housing Finance Agency) announced Tuesday that loan limits will be increasing on January 1. Following a decade of zero changes in the loan limits, the last four years have ALL seen an INCREASE in allowable loan limits.

This is STRONG NEWS for ALL homebuyers and homeowners as it reflects FHFA’s view that housing values have been increasing in the past, remain healthy in the present, and are also anticipated to continue to grow.

The full announcement may be seen here: https://www.fhfa.gov/Media/PublicAffairs/Pages/FHFA-Announces-Maximum-Conforming-Loan-Limits-for-2020.aspx

In short, a few key details pertaining to Coconino County are:

  • Conventional loan – limit for 1 unit properties increased to $510,400
  •  VA & FHA – have not yet announced but traditionally follow with an increase when Conventional does

 

October 2019 Flagstaff Market Watch Summary

2019 Flagstaff Real Estate Market Watch Total Home Sales -     110 homes (SF), up 1% vs October 2018. 

Median Home Price -  $426 (SF),  up 6% vs Octoberber 2018

Mortgage rates  - Today, the average U.S. rate for a 30-year fixed mortgage is 3.7%  

Longest days on market (SF):  474 Days That's just a year and 3 months on the market! This listing is a 4 bedroom Forest Highlands home with multiple living and dining areas and Trex deck perfect for entertaining.

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. 

Flagstaff's Priciest Homes SOLD in OCTOBER 2019

  • $2,075,000  - Pine Canyon luxury home with 7 bedrooms and 6 baths, over 5,000 sqft of living space, boasting panoramic San Francisco Peaks, golf course and water views.
  • $875,000  -  Last month's priciest townhome is another luxurious Pine Canyon property boasting 5 bedrooms, gated courtyard, and a separate casita. 
  • $375,000 -  2 bedroom condo with loft and attached garage in Flagstaff Townsite, walking distance to downtown

The most AFFORDABLE  Flagstaff Homes Sold in OCTOBER 2019

  • $158,000 - The most affordable single-family Flagstaff home that sold in October is located in the Flagstaff Old Town area (La Plaza Vieja). Home is a teardown but the value is in the lot. 
  • $218,000 - A 3 bedroom townhouse with loft and hardwood/ceramic tiles throughout, located in Christmas Tree Estates
  • 100,900 -  University Meadows one-bedroom unit close NAU, shopping, hiking, and minutes from downtown. 

 

Flagstaff Home Buyer Advice 

With only a 3.5% down payment, and as low as a 580 FICO score with a debt-to-income ratio as high as 50% you can buy a home using a FHA/VA mortgage. In many cases, renters aren’t aware of how much mortgage credit is open to help them pursue the American Dream, and instead are absorbing higher annual housing costs, which can be a difficult cycle to break out of for many young consumers.” – Ivy Zelman, CEO Zelman Associates

If you’re looking to buy a home, now is a great time to lock in a low mortgage rate. It will shrink your monthly payment and could save you a bundle over the long term. Or if you plan to stay in your current home for a while, consider whether it makes sense to refinance your mortgage at today’s lower rates.

Move-up buyers, if you’re ready to trade in your starter home for something more luxurious, you may get the best of both sectors. We’re still witnessing a strong demand for entry-level homes, giving sellers the upper hand.

Luxury buyers, buyers of high-end homes are finding a greater selection (and more negotiating power) than they’ve had in years.

[Here's what you need to know about the mortgage process.]

 

FLAGSTAFF HOUSING SUPPLY 

Inventory

Flagstaff inventory has been going down over the last three months too. 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. Let's talk about your situation in person! Call Kelly at 888.446.5602

Check out the latest list of Flagstaff homes for sale under $300K. There are 100+ houses available in the $300K to $400,000 range and 40+ houses available to purchase in the $400K to $450K range. 

Flagstaff Home Seller Advice 

Year over year, the gap between what we’re listing this year versus last year is getting worse. We need affordable listings desperately. Right now, Flagstaff has less than 2.7 months of supply of homes for sale under $600,000. 

Sellers typically list during the months of April to June where the supply of homes is around 5 months. Here's why you need to list now instead of waiting until the spring:

  1. Less competition means you are going to get more money for your house and have fewer hassles in selling the house  
  2. New construction - New building permits, building permits for new construction, newly constructed homes, are up 7.7 percent over this time last year. Guess what. Many of those houses are going to be built this spring

The ‘sweet spot’ for the seller is right now from now all the way through March. Without an inventory, two things can happen. Number one is we have fewer sales and number two prices will start to reaccelerate. Now, I know for the sellers, that’s a good thing, but for the overall housing market, the moderation in prices actually caused a drive of buyers to the market.

 

GET IN TOUCH

If you’re thinking about selling now, let’s get started. From hiring the right real estate agent to handing over the keys, here is your step by step guide to the home selling process. Let’s get together to determine the specific options available for you and your family. Contact 928.606.6749 or email kelly.broaddus@exprealty.com if you are looking for a Northern Arizona realtor to help you buy/sell your Flagstaff/Sedona real estate and the surrounding areas. 

We at The Kelly Broaddus Team with eXp Realty know that the only result that ultimately matters is that your home gets sold — and sold for the right amount. Satisfied clients say it all. Check out our 5 Star Reviews.

 

 

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Nov. 20, 2019

Best Flagstaff Open Houses This Saturday: Nov 23, 2019

by Merry Pedroso

Open House Nov 9 2019

We have rounded up the BEST Open Houses in Flagstaff's most lively neighborhood, so you don’t have to. Make the rounds this Saturday and take your pick! A new build mountain home with golf course views in Pine Canyon, a fantastic custom built home on an extremely oversized lot (26,136 sq ft) in Flagstaff Ranch or a very popular VRBO in Continental Country Club with a price point for every buyer. If you aren’t making your way to these open houses this, then you are missing out!

Tour them this Saturday and tell us which is your favorite. Please click on the picture or address to get more information. See the list below. Got questions about the house or the neighborhood? Want as private showing? Call Kelly at 888-446-5602

 

Where: 3465 S Clubhouse Circle, Flagstaff, AZ 86005 in Pine Canyon

When: 12:00 to 2:00 p.m. Saturday, November 23

4 Beds | 4.5 Baths | 4,100 SqFt

Photos and more information here: 

https://www.northernarizonafinehomes.com/property/179668/

 

 

Where: 5220 E Mockingbird Drive, Flagstaff, AZ 86004 in Continental Country Club

When: 12:00 to 2:00 p.m. Saturday, November 23

4 Beds | 2.5 Baths | 2,340 SqFt

Photos and more information here: 

https://www.northernarizonafinehomes.com/property/178982/

 

Where: 3870 Running Martingale, Flagstaff, AZ 86005 in Flagstaff Ranch

When: 12:00 to 2:00 p.m. Saturday, November 23

4 Beds | 2.75 Baths | 1,874 SqFt

Photos and more information here: 

https://www.northernarizonafinehomes.com/property/179605/

 

 

YOUR FREE LIST OF UPCOMING OPEN HOUSES IN FLAGSTAFF


Here is the link, check it out, no registration required  http://ow.ly/wtGf50ufwjB

 

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Nov. 20, 2019

5 Steps to Finding Your Next Flagstaff or Sedona Home

Kelly Broaddus |  888.446.5602  | Contact Kelly

5 Steps to Finding Your Next Home

 

Whether you’re a first-time buyer or a seasoned homeowner, shopping for a new home can feel daunting. In fact, 56% of buyers said that “finding the right property” was the most difficult step in the home buying process.1

Buying a home is a significant commitment of both time and money. And a home purchase has the power to improve both your current quality of life and your future financial security, so the stakes are high.

5 Steps to Finding Your Next Home in Northern Arizona

Follow these five steps—and complete the corresponding worksheet offered below—to assess your priorities, streamline your search, and choose your next home with confidence.

STEP 1: Set Your Goals and Priorities

The first step to finding your ideal home is determining WHY you want to move.

  • Do you need more space?
  • Access to better schools?
  • Less maintenance?
  • Or are you tired of throwing money away on rent when you could be building equity?

Pinpointing the reasons why you want to move can help you assess your priorities for your home search. 

Don’t forget to think about how your circumstances might change over the next few years. Do you expect to switch jobs? Have more children? Get a pet? A good rule of thumb is to choose a house that will meet your family’s needs for at least the next five to seven years.Be sure to set your goals accordingly.

 

STEP 2: Determine Your Budget

Many financial professionals recommend following the “28/36 Rule” to determine how much you can afford to spend on a home. The rule states that you should spend no more than 28% of your gross monthly income on housing expenses (e.g., mortgage, taxes, insurance) and a maximum of 36% of your gross monthly income on your total debt obligations (i.e., housing expenses PLUS any other debt obligations, like car loans, student loans, credit card debt, etc.).3

Of course, the 28/36 rule only provides a rough guideline. Getting pre-qualified or pre-approved for a mortgage BEFORE you begin shopping for homes will give you a much more accurate idea of how much you can borrow. Add your pre-approved mortgage amount to your downpayment to find out your maximum purchasing potential.

STEP 3: Choose a Location

When it comes to Flagstaff or Sedona real estate, WHERE you choose to buy is just as important as WHAT you choose to buy.

Do you prefer a rural, urban, or suburban setting? How long of a commute are you willing to make? Which neighborhoods feed into your favorite schools? These decisions will impact your day-to-day life while you live in the home.

Another important factor to consider is how the area is likely to appreciate over time. Choosing the right neighborhood can raise the profit potential of your home when it comes time to sell. Look for communities that are well maintained with high home-ownership rates, low crime rates, and access to good schools, desired retail establishments, and top employers.4

STEP 4: Decide Which Features You Need (and Want) in a Home

Start with the basics, like your ideal number of bedrooms, bathrooms, and square footage. Do you prefer a one-story or two-story layout? Do you want a swimming pool? There are very few homes with pools because of Flagstaff's cool weather.

Keep in mind, you may not find a home with all of your “wants,” or even all of your “needs” … at least not at a price you can afford. The reality is, most of us have to make a few compromises when it comes to buying a home.

Some buyers will opt for a longer commute to get a larger, newer home in the suburbs. Others will sacrifice hardwood floors or an updated kitchen so that their kids can attend their desired school. 

If you’re faced with a tough choice about how or what to compromise in your home search, return to STEP 1. What were your original goals and motivations for moving? Reminding yourself of your true priorities can often provide the clarity that you need.

 

STEP 5: Meet with a Flagstaff/Sedona Real Estate Agent

A good real estate agent can remove much of the stress and uncertainty from the home search process. From setting goals to securing a loan to selecting the best neighborhood to meet your needs, we will be there to assist you every step of the way.

And no one has more access to home listings, past sales data, or market statistics than a professional agent. We can set up a customized search that alerts you as soon as a new listing you might like goes live. Better yet, we get notified about many of the hottest homes even BEFORE they hit the market.

You might guess that the VIP service we provide is very expensive. Well, the good news is, we can represent you throughout the entire home buying process at NO COST to you. It’s true; the home seller pays a buyer agent’s fee at closing. So you can benefit from our time, experience, and expertise without paying a dime. It’s no wonder 87% of buyers choose to purchase their home with the help of an agent.1

And although we’ve listed it here as STEP 5, the reality is, it’s never too early (or too late) to contact us about buying your Flagstaff/Sedona home. Whether you plan to buy today, next month, or next year, there are steps you can (and should) be taking to prepare for your purchase. Call or text 928.606.6749 or email kelly.broaddus@exprealty.com.

Call us today 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 a financial professional for advice regarding your individual needs.

 

Sources:

  1. NAR 2019 Home Buyers & Sellers Generational Trends Report – https://www.nar.realtor/sites/default/files/documents/2019-home-buyers-and-sellers-generational-trends-report-08-16-2019.pdf
  2. Architectural Digest – https://www.architecturaldigest.com/story/this-is-how-long-you-should-live-in-your-house-before-selling-it
  3. Investopedia – https://www.investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp
  4. Money Talks News – https://www.moneytalksnews.com/20-clues-youre-buying-home-the-right-neighborhood/

 

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Best Flagstaff Open Houses This Saturday: Nov 16, 2019

by Merry Pedroso

Open House Nov 9 2019

Mark your calendars! Whether you are searching for a family home, a great rental investment opportunity or if you are a first-time buyer, we have a place for you.  We have two stellar Open Houses this Saturday that you can’t afford to miss. Each offer fantastic location with luxurious interiors, loads of charm, and is great for families.

If you aren’t making your way to these open houses this weekend, then you are missing out! Please click on the picture or address to get more information. See the list below. Got questions about the house or the neighborhood? Want as private showing? Call Kelly at 888-446-5602

 

Where: 5220 E Mockingbird Drive Flagstaff, AZ 86004 in Continental Country Club

When: 12:00 to 2:00 p.m. Saturday, November 16

4 Beds | 2.5 Baths |2,340 SqFt

Photos and more information here: 

https://www.northernarizonafinehomes.com/property/178982/

Where: 110 San Patricio Dr Sedona, AZ 86336 in West Sedona

When: 12:00 to 2:00 p.m. Saturday, November 16

4 Beds | 3.5 Baths | 2,700 SqFt

Photos and more information here: 

https://www.northernarizonafinehomes.com/property/179335/

 

YOUR FREE LIST OF UPCOMING OPEN HOUSES IN FLAGSTAFF


Here is the link, check it out, no registration required  http://ow.ly/wtGf50ufwjB

 

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Download our Mobile App!

Download our 5-star rated iOS/Android App. Full MLS Data updated every 15 minutes unlike most other apps you find in the store. Click Here to download.

Millions Mapped
Nov. 13, 2019

2682 W Jaclyn Drive Flagstaff, AZ 86001

Kelly Broaddus |  888.446.5602  | Contact Kelly  

updated: 12/26/19

2682 W Jaclyn Drive Flagstaff AZ 

Beautiful 3 Bedroom Home on One of The Largest Lots in Presidio 

3 Bed | 2.5 Baths | 1, 697 Sq Ft 

Nestled on one of the largest lots in desirable Presidio, this beautiful 3 bedroom, 2.5 bath home boasts serene mountain and forest views. Landscaped front and backyard with an underground winterized irrigation system. The spacious kitchen features granite countertops and new stainless LG appliances. Other upgrades include engineered hardwood flooring, faux wood blinds, fiber optics wiring. There is a storage room with built-in shelving, double Shower, and Sunken tub in Master Suite with hookups for A/C or Jacuzzi, separate laundry room with Duet Whirlpool appliances. Oversized 2 car tandem garage. Outdoor fire pit. Close to three playgrounds, NAU, forest trails, and popular downtown Historic Flagstaff. Come check this out!

More pics and information: https://www.northernarizonafinehomes.com/property/179667/

Location

2682 West Jaclyn Drive

Car-Dependent

Explore Presidio in the Pines Flagstaff

Take Route 66 east, turn south on Woody Mountain Road, left on W Patio Del Presidio, left on S Pais Del Norte, right on W Jacyln Dr. Home is on the left

Attractions & Recreation

  • Presidio Children's & Dog Park - Well maintained community park with parking.
 

Dining Nearby

 

Schools

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

 

Location

 

If you are looking for an affordable home on of the best Flagstaff golf neighborhoods, this is it. Contact 888.446.5602 to arrange for a private showing.

The Presidio in the Pines Neighborhood

Presidio is a Flagstaff neighborhood that features new construction homes with stunning San Francisco Peak views surrounded by the forest. There is a monthly HOA fee of $50 Cottages at Cedar Ridge

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