May 8, 2019

2831 N Walnut Hills Drive Unit 13, Flagstaff, AZ 86004

updated 6/03/2019

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

 2831 N Walnut Hills Drive Unit 13 Flagstaff, AZ 86004

Fully Furnished Continental Country Club Condo, Great Summer Getaway or VRBO! 
2 Beds | 2 Bath | 1,074 SqFt

Beautiful fully furnished two bedroom condo in great condition! This property is being offered turnkey, just bring your suitcase and move in. Operated currently as a successful VRBO, rented June-Aug for $2500 per mo. Purchase this home and the lease is yours! This condo features new decks and is tucked in the trees offering patio privacy. Ideal location that is a short distance to golf courses, driving range, clubhouse, restaurants, lake, and national forest!

Take a Virtual Tour: https://www.tourfactory.com/2592485

See all homes for sale in Continental Country Club

 

RECENT UPGRADES BY SELLER:

2831 N WALNUT HILLS DR UNIT 13, Flagstaff 86004

  • Removed popcorn ceilings throughout.
  • Replaced fireplace with a new look – raised up and built a fireplace with travertine and new custom wood mantle.
  • New ceiling fans throughout.
  • All new flooring throughout.
  • Custom window treatments.

Bathrooms

2831 N Walnut Hills Drive Unit 13, Flagstaff, AZ 86004

  • New bathroom counters w/sink.
  • New bathroom faucets.
  • New tub faucet
  • New Master Bedroom tub enclosure 
  • New toilets in both bathrooms.
  • New bathroom hardware and lighting in both baths.
  • Installed decorative mirrors over sinks in all bath areas (3)
  • Master Bath sink area – new mirror, faucet, and lighting.

Kitchen

2831_N_Walnut_Hills_Drive_Unit_13_Flagstaff_AZ_86004_kitchen

  • New light over the kitchen table
  • Fluorescent lighting removed in kitchen and ceiling raised up and CAN lights installed.
  • All new stainless steel appliances in the kitchen.
  • Replaced Formica countertops in kitchen with Corian.
  • Corian sink in the kitchen.
  • New bronze faucet in the kitchen.
  • New added CAN light over the kitchen sink.

Exterior

2831_N_Walnut_Hills_Drive_Unit_13_Flagstaff_AZ_86004

  • All new paint throughout.
  • New bronze security door installed.
  • Recent new decks off main living and master bedroom (HOA replaced).

Other Upgrades

  • Replaced water heater.
  • Replaced window in 2nd bedroom.

Location

2831 North Walnut Hills Drive

Car-Dependent

Explore Continental Country Club

Attractions & Recreation

  • 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.
  • Walnut Canyon National Monument - features prehistoric archaeological sites which are spectacularly located in cliffs and along the rim of Walnut Canyon. 

Dining Nearby

Nearby restaurants include The Northern Pines, it's very conveniently located at the intersection of the I-17 and I-40.  Looking for a friendly place to dine? Visit Olive Garden Italian Restaurant, they offer great menu choices with many healthy (gluten and vegan ) options. Another great place to dine is at the Coco's Bakery Restaurant. The food is exceptional be it breakfast, lunch or dinner. Excellent fresh homemade desserts.

Schools

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

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

Continental Country Club Neighborhood Information 

Homeowners in the Continental Country Club area enjoy the facilities of the two nearby golf courses: Aspen Valley and Continental.  A social membership fee covers the use of the two golf clubs. The Continental Country Club has a fitness center, swimming pool, tennis and discounted fees for golf. Aspen Valley offers an affordable yet challenging game of golf as well as casual dining at the bar & grill. 

Contact Kelly Broaddus at kelly.broaddus@exprealty.com or call 888-4465602 to see this RARE upstairs end unit in Continental Country Club or other houses for sale in Flagstaff.

 

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April 30, 2019

Flagstaff AZ Real Estate Market Update- March 2019

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

 March 2019 Flagstaff Home Sales

 

Flagstaff  2019 Spring Selling Season Slow Start

 

I hope that you’re enjoying the first full month of spring! Sales of Flagstaff homes continue to disappoint in March. There are reasons for optimism however as we head into the second quarter.

  1. Interest rates are now lower at 4.2% than last year at this time when rates were at 4.4%. 
  2. The stock market has fully recovered. The S&P 500 is at all time high while Nasdaq is up 23% this year. 401ks are looking much better.
  3. 23% Improvement in pending contracts.

Here are last months figures for Flagstaff.

FLAGSTAFF SINGLE FAMILY HOME SALES

US Existing Home Sales dropped 4.9% in March while Greater Flagstaff's March housing sales both the quarter and the month of March were down big. For the 1st quarter, there were a total of 152 sales, down 28% and for March there were 69 sales, down 24%. This sales drop could be attributed to an inventory shortage and not necessarily any lack of demand.  The Flagstaff 1st quarter home sales are historically the slowest of the year. 

Jan - declined 48% Feb - declined 6% March - declined 24%

The number of business days in a given month matter too. In March 2019, there are only 21 business days vs 22 in March 2018.

It was about business as usual for the Kelly Broaddus Team, with 3 buyers closing on their dream homes. 

 

FLAGSTAFF MEDIAN HOME PRICE

US Median home prices were up 3.8% over last March at $259,400. This marked the 85th consecutive month with year-over-year price gains. Meanwhile, March was basically flat in Flagstaff with a median sale price of $387,000.

Housing prices in the greater Flagstaff region did hit another new high. The median sale price for the 1st quarter came in at $401,250 up 6% from the same period in ’18. This is the highest quarterly median sale price ever and the very first time above $400K. 

 

DOWNLOAD THE FULL FLAGSTAFF MARKET REPORT HERE

 

March 2019 Flagstaff Market Watch Summary

2019 Flagstaff Real Estate Market Watch Total Home Sales -   69 homes (SF), down 24% vs March 2018. 

Median Home Price -  $387,000 (SF), flat vs March 2018

Mortgage rates  - A 30 year fixed rate mortgage with 5% down and very good credit is now at an average of 4

Longest days on market (SF): 836 days. A 4 bedroom, 2,617 sqft home. Brand New single level construction in the heart of Continental Country Club. That's more than 3 years and 3 months, folks!

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 March 2019

  • $1,700,000  - This rural luxury home located northwest of downtown is our most expensive Flagstaff home that sold in March 2019. It is the first time a home in Hidden Hollow made it to the top of our list.
  • $477,000  -  Last month's priciest townhome is a 4 bedroom luxury townhome in the Pine Knoll area near NAU and Aspen Place shopping. 
  • $254,000 -  2 bedroom unit in Summit Park Condos, located southeast of downtown Flagstaff 

The most AFFORDABLE  Flagstaff Homes Sold in March 2019

 

Flagstaff Home Buyer Advice 

It appears that the US spring buyer market is going to be stronger than many have projected. According to the National Association of Realtors’ Economists’ Outlook Blog, purchasing a home has become more affordable, which has led to increased demand.

 

“Due to the combination of falling home prices and mortgage rates, the income needed to make an affordable mortgage payment (mortgage no more than 25% of income) on a median-priced home with 10% down payment and 30-year fixed rate mortgage decreased from $60,425 in June 2018 to $53,783 as of February 2019, and the difference of $6,642 represents a gain in buying power because one can afford a home purchase at a lower level of income.”

 

Here's the low down in Flagstaff:

  • Home prices have NOT fallen. 1st quarter figures are up 6% vs last year. With demand for affordable Flagstaff homes still exceeding supply, we may not see home prices go down. 2018 was a record-setting year with housing prices hitting new highs, this year we are still expecting to see normal price appreciation.
  • Mortgage rates are once again on the rise after hitting a 12 month low. Our advice: Lock in the low rates while you can. If the lower rate environment persists, we are in for a great spring home buying season. Here's what you need to know about the mortgage process.
  • Supply of affordable homes is still low. Inventory levels are rising but we’re still at four months inventory at the under $500K price range, meaning we’re still in a sellers’ market.

Spring 2019 Homebuying Guide

End of March 2019 inventory actually declined for homes under $300K. Check out the latest list of Flagstaff homes for sale under $300K

There are 130+ houses available in the $300K to $400,000 range and 50+ houses available to purchase in the $400K to $450K range.

Need a lender recommendation for your home loan? We work with trusted lenders who will walk you through the entire process and have your best interest at heart. Contact Kelly today and we will get you one of our trusted lender that best fits your needs.

 

Flagstaff Home Seller Advice 

Maybe you have outgrown your current house. Maybe you are wanting to be closer to family and friends. Maybe the Flagstaff home that you love is becoming a burden to clean now that the kids have moved out. 

Let's talk about pricing. Home prices are still up across the country and in Flagstaff based on first-quarter figures. There’s no depreciation projected by any of the major projectors or predictors of where prices are going to be going. We are going back to normal appreciation which is about 3.6 % (pre-bubble, country). If we look at the latest Case-Schiller projection below, Arizona will have a strong appreciation as like most states.

There are less than 2 months of inventory in the under $300K price range. It's a great time to sell if you have a starter home. 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

Spring 2019 Home Selling Guide

We are your Flagstaff home experts! 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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 February 2019 Flagstaff Market Statistics

 

April 19, 2019

3170 Kweo Trail Flagstaff, AZ 86001

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

Updated: 5/2/19

 3170 Kweo Trail Flagstaff, AZ 86001

Turn Key Vacation Rental in Kachina Village
5 Beds | 4 Bath |  2,236 sqft

It's no wonder that this vacation rental has stellar reviews on Airbnb, nor that it stays booked solid. Guests say that they love stargazing in the 6-person hot tub, lounging on the two covered decks, and cooking in the gourmet kitchen. They love the woodburning stove in the winter and the backyard firepit on crisp autumn evenings. There’s even a perfect sledding hill on the property where the kids love to play in the snow. You’ll love getting distracted by hummingbirds buzzing around as you sway in the breeze with a good book on the covered hammock deck. Control the entire house from your smartphone – dim all the lights to 10%, lock and unlock the doors, or adjust the thermostat. Even turn on the roof snow-melt system, all from the palm of your hand, whether you’re in the house, the hot tub, or 5,000 miles away. Artfully decorated and fully furnished, this turn-key vacation rental is a top performer with repeat customers. The house is brimming with upgrades like a Rinnai tankless water heater, EWS Spectrum whole house water filter and conditioner, whole-house surge protector, in-wall surround-sound, and a top-end ADT security system. Enjoy all four beautiful seasons in Flagstaff with 1,000 square feet of deck space! The “outdoor living room” deck is upstairs, and is covered. The downstairs “hammock deck” is also covered. The largest deck, the hot tub deck, is perfect for star gazing and sunbathing. There’s even a raised 60 square foot flowerbed/garden off one of the hot tub deck just waiting for someone with a green thumb to plant vegetables or flowers. The house is on nearly a half-acre of heavily treed land with a huge back yard. 

Photos and more information here: https://www.northernarizonafinehomes.com/property/176926/

Take a Virtual Tour: Coming soon

See all homes for sale in Kachina Village

Location

3170 Kweo Trail

Car-Dependent

Explore Flagstaff on Walk Score

Dining Nearby

Visit Olive Garden Italian Restaurant, they offer great menu choices with many healthy (gluten and vegan ) options. Looking for an unusual menu with great range of flavors? Nomads Global Lounge a great place for you. Delhi Palace is a the top rated Indian restaurant in Flagstaff and you must give it a try.

Schools

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

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

Kachina Village Neighborhood Information 

Visit the Kachina Village community page for more information about this south rural Flagstaff neighborhood.

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

 

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April 18, 2019

811 W Lone Star Trail, Flagstaff, AZ 86001

updated 6/18/2019

Kelly Broaddus  |  eXp Realty  |  888.446.5602  |  Contact Kelly

811 W Lone Star Trail Flagstaff, AZ 86001

Beautifully Landscaped Ponderosa Trails Home with Spacious Deck
4 Beds | 2.5 Bath |  2,481sqft | $467,850

 

PRICE REDUCED! Great opportunity to own a beautiful home with a new roof and deck in desirable Ponderosa Trails! High ceilings carry natural light throughout the open great room with fireplace that flows nicely to the back deck. You will also find the master bedroom and bath on this level. Downstairs boasts 3 bedrooms, a bathroom and a little mini breakfast bar with enough room for a small fridge and microwave, the spacious family room opens into the fantastic backyard. Great finishes and colors throughout. Enjoy a beautifully landscaped, low maintenance front and back yard. Close to parks and schools, this is the perfect home for a family or a great rental investment opportunity! Maybe you have a student that would like to use the downstairs and rent 2 rooms to friends, and use the upstairs to escape the summer heat! 

Photos and more information here: https://www.northernarizonafinehomes.com/property/176904/

Take a Virtual Tour: https://www.tourfactory.com/2583971

See all homes for sale in Ponderosa Trails

Location

811 West Lone Star Trail

Car-Dependent

Explore Ponderosa Trails on Walk Score

Dining Nearby

Nearby restaurants include Satchmo’s, this is 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. Looking for an unusual menu with great range of flavors? Nomads Global Lounge a great place for you. Another quick stop is at Coppa Cafe and Bistro.

Schools

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

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

Ponderosa Trails Neighborhood Information

Ponderosa Trails is perfect if you prefer newer construction, family settings, and low-maintenance lots a short distance from town and shopping.

Come and see this nice home in Ponderosa Trails for yourself! 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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April 15, 2019

3267 N Legacy Trail, Williams, AZ 86046

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

 3267 N Legacy Trail, Williams, AZ 86046

Beautiful Custom Built Cabin in South Rim Ranch
3 Beds | 2 Baths | 1,624 SqFt

If you're looking to live a more sustainable life and to have no electric bill, then it's time to take a look at this beautiful custom built cabin in South Rim Ranch, POWERED BY THE SUN! Just 20 minutes south of the Grand Canyon with spectacular views of Northern Arizona, you will walk through the front doors and immediately feel like you're home. Great Room boasts cathedral ceilings, dining room, kitchen with loads of cabinets as well as pantry, breakfast bar, maintenance free tile flooring. Master bedroom with a bathroom that look out to the San Francisco Peaks and Red Butte. Two additional bedrooms and another full bathroom make this a great vacation retreat or full time family home on a 12 acre parcel at the end of a cul-de-sac. Elk, deer, antelope deer, call this area home Front porch to soak in the views and the peace and quiet of Northern Arizona. This is a must see home. Horses welcomed here! Association maintained roads for year round access. Too much to list here! Exterior has been freshly stained and is currently being used as a VRBO successfully. 

Photos and more information here: https://www.northernarizonafinehomes.com/property/176897/

Take a Virtual tour: https://www.tourfactory.com/2583952

See all homes for sale in Williams

Location

3267 North Legacy Trail

Car-Dependent

More information on Walk Score

Dining Nearby

If in Williams, you must visit them Red Raven! Highly recommend eating at this upscale yet casual restaurant in the heart of Williams Arizona. Looking for good down-home cooking, very reasonable prices, and good service? Pine Country Restaurant is located along Route 66, right off the freeway so it's not completely out of your way to enjoy real food in a cute little town. If you're hanging out getting your kicks on Route 66, make sure you stop at Station 66 for a delicious dinner. Top notch service, the interior is spacious and cool, there's an outdoor patio with music, and most importantly the food and drinks were great.

 

Attractions & Recreation

  • Grand Canyon Railway Station - Refurbished train cars have been restored to their 1920s grandeur and air conditioning has been added. Comfortable seating and the great views make for a pleasant journey through an ancient landscape.
  • Bearizona Wildlife Park  - The best of all off the road entertainment anyone could want or desire. It contains both a car and a petting experience. Located just 10 minutes north of Williams AZ center of town, on Route 66.

Schools

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

  • Williams Elementary PK-5
  • Williams Middle School 6-8
  • Williams High School 9-12

Williams Neighborhood Information 

Williams , also known as the "Gateway to the Grand Canyon", is surprisingly varied for a town with such a small population (3,023 at the 2010 census). Just an hour south of the Grand Canyon and located on historic Route 66, it thrives on tourism, and is home to several attractions, including the Grand Canyon Railway, which, among other things, boasts a train ride to the heart of the Grand Canyon.

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

 

Search for Homes in Williams, Arizona

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April 12, 2019

Top 10 Myths That Trip Up First-Time Home Buyers

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

 

Top 10 Myths That Trip Up First-Time Home Buyers

 

If you’re thinking about buying your Flagstaff home, you’ve probably received your share of advice from family and friends. Add to that the constant stream of TV shows, news segments, and social media posts that over-simplify the home buying process for easy entertainment.

 

With so much information to sift through, it can be tough to distinguish fact from fiction. That’s why we’re revealing the truth behind some of the most common home buyer myths and misconceptions.

 

Buying a home is a big decision, but it doesn’t have to be a scary one. If you arm yourself with knowledge and a qualified team of support professionals, you’ll be well equipped to make the right choices for your family and financial future.

 

DON’T FALL FOR THESE COMMON HOME BUYER MYTHS

 

Myth #1: You need a 20% down payment to buy a Flagstaff home

Plenty of buyers are purchasing homes with down payments that are much less than 20% of the total cost of the property. Today, you can buy a home with as little as 3-5% down.

 

There are multiple programs out there that allow you to have a lower down payment, and our preferred lender or mortgage broker can talk you through which option is the best for you. Since you’re putting less money down, you’re a riskier borrower to your lender than people who put down a full 20%. Because of this, you will most likely need to pay mortgage insurance as part of your monthly payment.

 

Myth #2: Real estate agents are expensive.

Your agent is with you every step of the way throughout your home buying journey, and he or she spends countless hours working on your behalf. It sounds like having an agent is expensive, right? Well, not for you. Buyers usually don’t pay a real estate agent’s commission. Your agent’s fee is paid for at closing by the seller of the home you’re buying.1 The seller knows to factor this cost into the property’s total purchase price.

 

Myth #3: Don’t call a Flagstaff realtor until you're ready to buy.

The earlier you bring in an agent to help with the purchasing process, the better. Even if you’re in the very early stages of casually browsing Zillow, a real estate professional can be a huge help. 

 

They can create a search for you in the Multiple Listing Service (MLS), so you get notifications for every house that meets your criteria as soon as it hits the market. The MLS is typically more up-to-date than popular home search sites like Zillow and Trulia. Setting up a search a few months before you’re considering buying gives you a good idea of what’s out there in your town that’s in your budget. Reviewing the MLS and speaking with an agent as soon as possible can help you set realistic expectations for when you actually start the house hunting process. Check out our Consumer's Guide to Hiring an Amazing Real Estate Agent.


Myth #4: Fixer-uppers are more budget friendly.

We’ve all watched the shows on HGTV that encourage people to go after fixer-uppers because they’re more affordable and allow buyers to eventually renovate the home to include everything on their wishlist. But, this isn’t always the case.

 

Are Fixer-Uppers Worth It? Sometimes, homes that need a lot of work also require a lot of money. Big renovations, like add-ons, a total kitchen remodel or installing a pool, take a lot longer than it looks on TV. If you’re really interested in a fixer-upper, ask your agent to show you a mix of newer homes and older homes. If you fall in love with an older home that needs a lot of work, get some quotes from contractors before you buy so you know the real cost of the renovations and see if you can work them into your budget.

 

Myth #5: Your only upfront cost is your down payment.

Your down payment is big, but it isn’t the only money you’ll spend during the home buying process. At closing, you’ll pay your down payment, but you’ll also bring closing costs to the table. Closing costs are typically anywhere from 2-4% of the total purchase price of the home.2 This amount includes the cost for items like homeowners insurance, title fees, and more.

 

You’ll also need to pay for an inspection before closing, which usually costs a few hundred dollars. This price will be higher or lower based on the size of your new property. Your lender will also require an appraisal. An appraiser will come in and inspect the home to determine how much it’s worth. Depending on your lender, you may have to pay this when the appraisal is conducted or it might be rolled into your closing costs.

 

Myth #6: You need a high credit score to buy a house in Flagstaff.

You don’t need perfect credit to buy the perfect home. There are loans out there that buyers with lower credit scores can qualify for. These are good options for people who have had credit issues in the past, but some of them come with additional fees you will need to pay. Speak to a few local lenders or mortgage brokers to talk through which options might be best for you.

Check out our best tips for improving your credit score: Get Your Credit Score in Shape Before Buying a Home


Myth #7: You can't qualify for a mortgage if you're still paying off student loans.

While some buyers may feel more comfortable paying off their existing debts before taking the leap into homeownership, it’s not a requirement. When you’re applying for a mortgage, the lender takes a close look at your debt-to-income ratio.3 If you want to calculate this on your own, add up all of your monthly debt payments and divide those by your monthly income. When you’re lender does this, they’re trying to make sure that you will be able to afford your monthly mortgage payments along with your other existing payments. If your income is high enough to allow you to make all of these payments each month, having a student loan will most likely not stop you from getting a mortgage.

 

Myth #8: You should base your budget on what your lender approves.

How much houses you qualify for and how much you can afford are two totally different numbers. When you prequalify for a mortgage, your lender will look at your income, debt, assets, credit score, and financial history to determine how much money you might qualify for.4 For some people, this number might be much higher than you thought because lenders tend to approve for the highest amount they think you can afford. But that doesn’t mean that’s how much you should borrow.

 

Instead, figure out how much house you can actually afford. An online mortgage calculator can be a good first step in determining this number. We recommend thinking about what you want your monthly payment to be as a starting point. And remember to include your principal, interest, taxes, and, insurance. You should also think about ownership expenses that aren’t part of your monthly payment, like HOA dues and maintenance. Here's our in-depth guide to determining out your home buying power: What’s Your Home Buying Power?


Myth #9: It's all about location.

You’ve heard the phrase. Location, location, location is basically the real estate industry’s motto, but we’ll let you in on a little known secret: It’s not always true. Yes, location is great to consider when it comes to school districts and commute times, but you also need to think about how the home will function for you and/or your family’s lifestyle. If a family of five is choosing between a one bedroom condo in the bustling city center and a 4-bedroom home out in the suburbs, the latter is probably the best, most functional choice for them. Also, by buying in a less sought after neighborhood, your property taxes will most likely be much lower!

 

Obviously, you might still want to choose an area with great resale potential, and this is something that we can speak to you about. We are experts in Flagstaff and nearby areas and are constantly monitoring buying and selling trends.

 

Myth #10: If you look hard enough, you'll find a Flagstaff home that checks every box on your wishlist.

You’ve seen that famous house hunting show. And while we have our suspicions about how real it is, the one thing they get right is that almost every buyer needs to compromise on something. Yes, the perfect house that meets every item on your wishlist is probably out there, but it’s also probably double or triple your budget.

 

A long wishlist can be a great starting point for figuring out what you want and don’t want, but we recommend narrowing that wishlist down to the top five things that are important to you in order of priority. We also recommend noting on your wishlist what your absolute deal breakers are, like “must have a yard for our dog,” and noting what you can live without, like “heated bathroom floors.”

 

This is a great list to discuss when you first start talking to an agent. A good real estate agent will be able to look at your list and find properties that might work for you. By coming to that first meeting with realistic expectations and knowledge about home buying rather than a bunch of myths heard here and there, you’ll be able to start the process off on the right foot and be in your new house in no time.

DOWNLOAD YOUR FREE REPORT: Top 10 Myths That Trip Up First-Time Home Buyers

 

 

WE’RE HERE TO HELP FLAGSTAFF BUYERS & SELLERS

 

Whether you’re a first-time buyer or a seasoned homeowner, there’s no reason to go through the home buying process without an advocate on your side. We’re here to answer your questions and do the hard work for you, so you can spend your time dreaming about your new Flagstaff home. Call us today ☎ 888.446.5602 to schedule a free, no-obligation consultation.

 

Get a FREE copy of our Home Buyer’s Guide to Getting Mortgage Ready

 

Now that we’ve cleared up these common homebuyer myths, find out if you know the steps you should take to prepare financially before you apply for a mortgage. Contact us to request a complimentary copy of our “Home Buyer’s Guide to Getting Mortgage Ready.”

 

Sources:

  1. Realtor.com -

https://www.realtor.com/advice/finance/realtor-fees-closing-costs/

  1. The Balance -
    https://www.thebalance.com/buyer-s-closing-costs-1798422
  2. StudentLoanHero -

https://studentloanhero.com/featured/student-loans-buying-house/

  1. Zillow -

https://www.zillow.com/mortgage-learning/pre-qualification-vs-pre-approval/

 

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Flagstaff AZ Real Estate Market Update- February 2019

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

 February 2019 Flagstaff Home Sales

 

Chilly February Slow Flagstaff 's Housing Market

 

After having one of the snowiest February in Flagstaff history spring is here. I'm sure a lot of people loved the change of the season. Spring signal the start of the spring home-selling season and in just a few weeks we will see our first significant numbers in 2019.

Realtor.com reported an 11.8% surge in the US existing home sales after 3 consecutive months of lackluster sales. Here are last month's figures for Flagstaff.

FLAGSTAFF SINGLE FAMILY HOME SALES

Greater Flagstaff's February housing sales slipped slightly. Housing sales for the month totaled 45, slightly less than the 48 sales reported last February and just below the ten-year average of 47 sales for the month.

It was a still a busy month for the Kelly Broaddus Team, with several sellers and buyer going under contract on their dream homes. Here in the mountains during winter, sales are weather dependent - we had one closing for the month.  Despite the coldest, snowiest and slowest quarter, we still had the best start (sales and volume) since 2013.

Flagstaff Median Home Price and Days on Market

FLAGSTAFF MEDIAN HOME PRICE

Housing prices in the greater Flagstaff region hit a new all-time monthly high in February. The median sale price came in at $430K up 18% from a year ago! February’s $430K median sale price record will be tough to beat going forward because inventory levels should rise as we move into the selling season. DOWNLOAD THE FULL FLAGSTAFF MARKET REPORT HERE

Home Prices march 2019 Ralph McLaughlin

February 2019 Flagstaff Market Watch Summary

2019 Flagstaff Real Estate Market Watch Total Home Sales -   45 homes (SF), down 6% vs February 2018. 

Median Home Price -  $430,000 (SF), up 18% vs February 2018

Mortgage rates  - A 30 year fixed rate mortgage with 5% down and very good credit fell back to an average of 4

Longest days on market (SF): 585 days. A 4 bedroom, 4,316 sqft luxury home in Forest Highlands. Originally listed for almost $1.2 M, this home stayed on the market for 20 months before it sold.

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 February 2019

  • $1,575,000  - Another Pine Canyon luxury home tops of our most expensive Flagstaff homes list. 
  • $448,500  -  Last month's priciest townhome is a 4 bedroom Mountain Oaks subdivision home located inside the Continental Country Club area
  • $242,500 -   3 bedroom unit in Timberline Place 

The most AFFORDABLE  Flagstaff Homes Sold in February 2019

  • Single-family - $143,500 - 2 bedroom fixer-upper in Mountainaire, not livable sold to a cash buyer
  • Townhouse - $218,000  - Boyington Townhome located in Christmas Tree Estates
  • Condo - $215,000 -  Only 3 Flagstaff condos sold in February. This 2 bedroomArbors studio unit has been renovated and the new kitchen is gorgeous.

 

Flagstaff Home Buyer Advice 

If you are thinking of buying a home, you may not know where to start. Here is a simple list of 10 steps that you will go through to purchase a home. Ask us for details about each step and what else may be required in Flagstaff/Sedona!

Home Buying Step by Step

 

Great news for homebuyers: Mortgage rates have continued to drop.  The average 30-year fixed loan has dropped 22 basis points to 4.06%, while 15-year fixed loans are down 14 basis points to 3.57%, according to Freddie Mac. 

What you need to know about the mortgage process

Need a lender recommendation for your home loan? We work with trusted lenders who will walk you through the entire process and have your best interest at heart. Contact Kelly today and we will get you one of our trusted lender that best fits your needs.

Inventory levels are rising, and buyers are out and about but we’re still at four months inventory meaning we’re still in a sellers’ market at the under $500K price range. Currently, there are 110+ houses available in the $300K to $399,999 range and 40+ houses available to purchase in the $400K to $450K range. With demand for affordable Flagstaff homes still exceeding supply, we are not expecting home prices to go down anytime soon. 

Spring 2019 Homebuying GuideSpring 2019 Home Selling Guide

Flagstaff Home Seller Advice 

First-time homebuyers and move up buyers who were unable to find a home last year are out in force! The Kelly Broaddus team phone has been ringing non- stop with buyer inquiries and agents are busy showing homes to potential buyers.

All signs are pointing to the market slowly balancing as it transitions from a seller’s market to a buyer’s market. However, with home sale prices on the rise, pricing is still in the seller's favor. It’s going to be a busy spring! If you’re thinking about selling, let’s get started. Give me a call, send me a text, or email to set up a meeting to talk about your situation. 

We are your Flagstaff home experts! 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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 January 2019 Flagstaff Market Statistics

 

March 8, 2019

11677 Cove Crest Dr Bellemont, AZ 86015

updated: 6/24/2019

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

 11677 Cove Crest Bellemont AZ

Beautiful Move-In Ready 3 Bedroom in Bellemont

3 Beds | 2 Baths | 1,717 StFt

Move in ready in Bellemont! You will love this single level home and appreciate everything it has to offer. This lovely home features a family room AND living room with a see-through fireplace between the two, den/office could be 4th bedroom if desired, newer wood flooring throughout the majority of the home. Kitchen and dining are open with large island, solid surface counters, large pantry, and new stainless appliances. The backyard includes a large walled yard, paver stone patio, landscaping, and watering system.

TAKE A VIRTUAL TOUR: https://www.tourfactory.com/2557276

See more pictures and information here: 

https://www.northernarizonafinehomes.com/property/176469/

Location

11677 Cove Crest Drive

Car-Dependent

Explore Bellemont

Dining Nearby

RoadHouse Bar & Grill is nearby and it's a great place with good food and you get to cook your food yourself.  There also a lot of restaurants located in the Flagstaff area.

Schools

  • Manuel De Miguel Elementary School
  • Mount Elden Middle School
  • Flagstaff High School

Bellemont Neighborhood Information 

Bellemont is an unincorporated community in Coconino county located northwest of Flagstaff along Interstate 40 and boasts of beautiful homes and townhomes. 

Looking for affordable single-family homes in Bellemont? Schedule your appointment to view this home today! Contact Kelly Broaddus at kelly.broaddus@exprealty.com or call 888-446-5602 to see other houses for sale in Bellemont.

 

Search for Homes in Bellemont, Arizona

Bellemont Homes for Sale $200,000 - $300,000

Bellemont Homes for Sale $300,000 - $400,000

Bellemont Homes for Sale $400,000 - $500,000

Bellemont Homes for Sale $500,000 and above

 

 

March 8, 2019

1385 W University Ave Unit 11-183, Flagstaff, AZ 86001

updated 6/04/2019

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

1385 W University Ave Unit 11-183, Flagstaff, AZ 86001

2 Bedroom Lower Level Condo Near NAU

  2 Beds | 2 Baths | $219,850

Very rare Arbors lower level 2 bedroom 906 sqft unit with 2 bathrooms. Facing the common area, trees outside the deck, not a parking lot!! Priced competitively to sell!! Hurry, won't last, perfect for students and young professionals. 0.9 miles from the University, the public transit runs every 15 min. 

Take a Virtual Tour: https://www.tourfactory.com/2557306

See all Condos for sale in Flagstaff

Location

 

1185 West University Avenue

Car-Dependent

Explore Woodlands Village

 

Attractions & Recreation

  • North Pole Experience -  Give the kids details about Santa and his workshop. Kids get to see Santa and help him makes toys. 
  • Flagstaff Escape Space - An escape room is a real-life mystery game where a group of players must work together to decipher a series of puzzles and enigmatic clues while locked in a dark, mysterious room.

Dining Nearby

Nearby restaurants include Satchmo’s, this is 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.  You must try pizza with soppresetta, pistachio and honey at the Fat Olives.  Another quick stop is at Coppa Cafe and Bistro.

Schools

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

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

Woodlands Area Neighborhood 

The Arbors condos in the Woodlands area is a highly sought after condo community because of its central location. Common area includes two newly renovated modern clubhouses with an indoor spa, fitness center, movie room, full-size kitchens, lounge area that has two large gas burning fireplaces, computer access and high-speed Wi-Fi.

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

Search for Condos in Flagstaff, Arizona

 Flagstaff Condos for Sale Under $200,000

Flagstaff Condos for Sale $200,000 - $300,000

Flagstaff Condos for Sale $300,000 - $400,000

Flagstaff Condos for Sale $400,000 - $500,000

Flagstaff Condos for Sale Above $500,000

 

March 7, 2019

What’s Your Flagstaff Home Actually Worth? Discover What Buyers Will Pay in Today’s Market

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

 

What’s Your Home Actually Worth?

 

As a seller, knowing your home’s worth helps you price it correctly when you put it up for sale. If you price it too high, it may sit on the market. But price it too low and you may be losing out on a good chunk of money (nobody wants that!). For buyers, it’s important to know a home’s worth before you make an offer. You want your offer to be competitive, but you don’t want to overpay for the property.

 

Even if you’re not a buyer or seller right now, as a current homeowner you might just be curious about the value of your home. Keeping track of your home’s worth year over year helps you understand the trends in your market. So when you are ready to sell, you can take advantage of a good window of opportunity.

 

The good news is, a trained real estate agent—who understands the nuances of your particular Flagstaff neighborhood—can determine the true market value of your property … and at no cost to you!

 

 

THE THREE TYPES OF HOME VALUES

 

When you start the process of buying or selling a home, you’ll frequently hear the words appraised value, assessed value, and true market value. It’s important to know the difference between each one so you can make better, informed decisions.

 

Appraised Value

A professional appraiser is in charge of determining the appraised value of a home. These appraisals are typically required by a lender when a buyer is financing the property. And while the lender is the one requiring this information, the appraiser does not work for the lender.1 Your appraiser should be an objective, licensed professional who doesn’t have allegiance to the buyer, seller, or lender—no matter who is paying their fee.

 

The number the appraiser comes up with (the appraised value) assures the lender that the buyer is not overpaying for the property. For example, imagine a seller lists a home for $400,000. They reach a deal with the buyer to sell the home for $375,000. However, if an appraiser evaluates the property and determines that the appraised value is actually $325,000, then the lender will not lend for an amount higher than that appraised value of $325,000.2

 

When figuring out this number, an appraiser will compare the property to similar homes in your neighborhood, and they’ll evaluate factors such as location, square footage, appliances, upgrades, improvements, and the interior and exterior of the home. 

 

Assessed Value

The assessed value of a home is determined by your local municipal property assessor. This value matters when your county calculates property taxes each year. The lower your assessed value, the less property tax you’ll pay.3

 

To come up with this value, your assessor will evaluate what comparable homes in the neighborhood have sold for, the size of your home, age, overall condition, and any improvements or upgrades that have been made. However, most assessors don’t have full access to your home, so their information is limited.

 

Assessments are done annually to determine how much property tax you owe. Many counties use a multiplier (typically between 60%-80%) to calculate the final assessed value. So, if the assessor determines that the value of the home is $300,000, but the county uses a 70% multiplier, the assessed value of the home would be $210,000 for tax purposes.4

 

If your assessed value isn’t as high as you envisioned, don’t sweat it. Many homeowners appeal their assessment in favor of a lower valuation so that they can save money on property taxes. If you’re interested in appealing your property tax assessment, let us know. We offer complimentary assistance and would be happy to help you build your case.

 

True Market Value

Market value is established by your real estate agent. It basically refers to the value that a buyer is willing to pay for the property. A good real estate agent is an expert in determining true market value because they have hands-on experience buying and selling properties. They understand the mindsets of buyers in your market and know what they’ll pay for a desirable house, townhouse, or condo.

 

As a seller, knowing your true market value is important because it helps you choose how much to list your property for. It can also help you decide if you want to make any improvements to your home before putting it on the market. Your agent can help you figure out which updates and upgrades will have the biggest impact on your true market value.

 

 

WHAT’S THE DEAL WITH ONLINE CALCULATORS?

 

We have one. Check it out  here: https://www.northernarizonahomedeals.com/sell.php

When figuring out your home’s value, you might be tempted to see what popular real estate sites like Zillow, Redfin, and Trulia have to say. When you use an online calculator to determine your home’s value on these sites, it is just an estimate. It’s not an actual appraisal or the “true market value.” These sites all have their own algorithms for coming up with their estimates. For example, Zillow comes up with their “Zestimates” by calculating “public and user-submitted data, taking into account special features, location, and market conditions.” 5

 

These online estimates can be a great starting point for opening up the conversation with your real estate agent about your home’s worth. But even Zillow recommends that you use a real estate agent for coming up with the actual market value of your home. The site says that once you get your “Zestimate,” you should still get “a comparative market analysis from a real estate agent.”

 

Having an agent involved in this process is essential because they understand the market better than a computer ever could. They’re showing property in your city every single day, and they know the particular preferences of buyers and sellers in the area. Young professionals, large families, empty nesters, and other groups are all looking for different things in a home. A local agent has most likely worked with all of them, so they understand what every segment in your market is specifically looking for.

 

 

HOW AN AGENT FINDS YOUR HOME’S TRUE MARKET VALUE

 

So, how does an actual real estate agent determine true market value? They’ll start by doing a comparative market analysis (CMA). This means they’ll compare your home’s features to similar properties in your area. For the CMA, the agent looks at the below factors to influence their assessment of your home’s worth:6

 

  • Neighborhood sales - Your agent will look at similar, recently sold homes in your neighborhood to see what they sold for and what they have in common with your house.
  • The exterior - What does your home look like from the outside? Your agent will factor in curb appeal, the style of the house, the front and backyard, and anything else that impacts how the house looks to everyone walking and driving by.
  • The interior - This is everything inside the walls of the house. Square footage, number of bedrooms and bathrooms, appliances, and more all influence the overall market value.
  • Age of the home - Whether you have a newer or older home affects the number your agent comes up with as part of their assessment.
  • Style of the home - The style of your home is important because buyers in different markets have different tastes. If buyers prefer ranch-style homes and you have one, then your home may sell for a premium (aka more money!).
  • Market trends - Because a local agent has so much experience in your market, they have their finger on the pulse of your area’s trends and know what buyers are willing to pay for a property like yours.
  • Location, location, location - This one’s probably the most obvious. Your agent will think about how popular the area is, how safe it is, and what schools are like.

 

A computer algorithm simply can’t take all of these factors into account when calculating the value of your home. The reality is, nothing beats the accuracy of a real estate agent or professional appraiser when it comes to determining a home’s true market value.

 

 

YOUR AGENT IS THERE EVERY STEP OF THE WAY

 

Determining a home’s true market value is a real estate agent’s forte. If you’re a seller, your agent will help you find your home’s market value so you can list it at the right price.

 

For buyers, your agent will help you determine the value so you can come up with a fair offer. Your agent can also set up a personalized home search on the Multiple Listing Service (MLS) for you so you’ll receive emails of listings that meet your criteria. This will help you see what’s out there in your city and how properties are being priced.

 

Get a Complimentary Report With Your Flagstaff Home’s True Market Value

Curious about your home’s true market value? Call 888.446.5602 to request a free, no-obligation Comparative Market Analysis to find out exactly how much your Flagstaff home is worth!

 

DOWNLOAD YOUR FREE REPORT: March 2019 Report 👉 What’s Your Home Actually Worth? 💰

 

Sources:

 

  1. Chicago Tribune

https://www.chicagotribune.com/suburbs/chi-ugc-article-what-is-the-difference-between-market-value-a-2013-09-30-story.html

  1. SFGATE

https://homeguides.sfgate.com/market-value-vs-appraised-value-1206.html

  1. ValuePenguin

https://www.valuepenguin.com/mortgages/what-is-the-assessed-value-of-a-house

  1. Movoto

https://www.movoto.com/blog/homeownership/assessed-value-vs-market-value/

  1. Zillow

https://www.zillow.com/how-much-is-my-home-worth/

  1. Realtor.com

https://www.realtor.com/advice/sell/assessed-value-vs-market-value-difference/

 

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Posted in Home Selling Tips