by Joselyn Uy

Fun Memorial Day Weekend Open Houses in Northern AZ

Enjoy your long weekend and make sure to check out our open houses on Saturday and Sunday! Whether you’re looking in Flagstaff or Mormon Lake, we have houses to explore across these neighborhoods. 

Look below at all our open houses for May 28th and 29th. Please click on the photo or address to get more information. 

Hope you have a great Memorial Day, and we hope to see you at one of our Open Houses!

OPEN HOUSE in PINNACLE PINES

Saturday 5/28 10 AM - 1PM & Sunday 5/29 1PM - 4PM

1149 E Sterling Lane, Flagstaff, AZ 86005

OPEN HOUSE in HUTTON/SLAYTON

Saturday 5/28 11 AM - 3PM 

7680 Hutton Ranch Road, Flagstaff, AZ 86004

Got questions about the house or the neighborhood? Would you like to schedule a private showing? Call Kelly at 888-446-5602

YOUR FREE LIST OF UPCOMING OPEN HOUSES IN FLAGSTAFF

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

Flagstaff AZ Real Estate Market Data Provided by The Kelly Broaddus Group Brokered by eXp / by Joselyn Uy

Is the Flagstaff Real Estate Market Shifting to Favor Homebuyers?

The Flagstaff market has been cooling off a bit in recent weeks, as more homes are available, and demand is less. The rapid rise in mortgage interest rates in March and April was slowing home sales, along with still-rising home prices. We are still in a Seller's Market. If the market continues to cool, then we will move to a more "balanced market". Expect prices to follow lower. Here's our latest update.

FLAGSTAFF HOME SALES

The Existing-Home Sales Retract 2.4% in April while Greater Flagstaff's housing sales declined 7.9% from March according to data provided by the Northern Arizona MLS. There was a total of 117 homes sold, which is also down 30.4% from a year ago.

"Higher home prices and sharply higher mortgage rates have reduced buyer activity," said Lawrence Yun, NAR's chief economist. "It looks like more declines are imminent in the upcoming months, and we'll likely return to the pre-pandemic home sales activity after the remarkable surge over the past two years."

In the month of April, the Broaddus Properties Group Brokered by eXp Realty sold two properties in Northern Arizona valued at over $600K, thanks to our Williams and Flagstaff clients. Last year we helped buy and sell 8 homes worth $3.3M+. 

FLAGSTAFF MEDIAN HOME PRICE

"The median list-to-sales ratio for this area is 103.1%." List to Sales Ratio is the percentage of the list price that the buyer paid for the property. 

The median sold price in April is up 26% year over year to $696,000 a new monthly high. Homes remained on the market for an average of 38 days. This is slower than the 35 days we saw in March, but faster than the 46 days we saw a year prior.

If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall.

DOWNLOAD THE FULL FLAGSTAFF MARKET REPORT HERE

APRIL 2022 Flagstaff Market Watch Summary

Total Home Sales - 117 homes, down 15.9% vs April 2021.

Median Sale Price - $696,000 up 26% vs April 2021, highest in more than a decade

Mortgage rates - Average 30-year fixed-rate mortgage rate ended 4/19 at 5.27%. Rates can change rapidly during the day, and massively from week to week even though they can also be very boring for months on end.

Longest days on market (SF): 443 days This is a newly built single level 3-bedroom, 2.5 baths home in the Timber Sky community with a 3-car attached garage

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 must be off the MLS for at least 90 days for the CDOM to restart, even if a different agent lists it. We report the average days on the 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 APRIL 2022

Photo courtesy of Realty One Group, Mountain Desert, Melinda Morfin

• The highest-priced single-family Flagstaff home that sold in April was a $2,950,000 four-bedroom luxury custom home in Pine Canyon described as "mountain modern meets contemporary industrial"
• The highest-priced Flagstaff townhome sale was a $704,000 4-bedroom townhouse in Presidio with an open floor plan and a two-story great room
• The highest-priced Flagstaff condominium sale was a $1,400,000 three-bedroom, luxury main level Mountain Vista Condo in Pine Canyon, turn-key and fully furnished

THE MOST AFFORDABLE FLAGSTAFF HOMES SOLD in APRIL 2022

Photo courtesy of RE/MAX Fine Properties, Weston Foster/Justin Bemis

• The lowest-priced single-family Flagstaff home that sold in April was a $260,000 3-bedroom home in Sunnyside with an HR zoning that allows for multiple units - there's potential to convert the existing home to a duplex or build another home on the lot.
• The lowest-priced Flagstaff townhome sale last month was a $275,000 three-bedroom Christmas Tree Estates townhome, no HOA. Close to the mall, shopping, and movie theater.
• The lowest-priced Flagstaff condominium sold was a $205,000 one-bedroom second story studio in The Arbors. Close to Northern Arizona University, downtown shopping, restaurants.

Flagstaff Home Buyer Advice

Good news: Flagstaff home inventory rose 16% in April to a total of 602 homes listed on the NAMLS. Homebuyers have more homes to choose from, but this number is still lower than the same period last year. 

Mortgage rates are still rising. When mortgage rates rise, so does the monthly payment you’re able to lock in on your home loan. That could limit the amount of home you can afford to buy that’s within your financial reach.  .

Today, the average 30-year fixed mortgage rate is above 5%, and in the near term, experts say that’ll go up in the months ahead.

While it’s true rising mortgage rates and home prices mean buying a house today costs more than it did a year ago, you still have an opportunity to set yourself up for a long-term win. Buying now lets you lock in at today’s rates and prices before both climb higher.

If you’d like to look at what’s available on the market today, you can view the homes that are available in the Northern Arizona MLS right now:

Click here to see all Flagstaff homes for sale

Search Northern Arizona Homes For Sale

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

Sign up for free to receive our updates about coming soon properties and homes for sale not listed on the MLS. I can set up a customized search so you’ll get notified when new listings that meet your criteria hit the market.

Flagstaff Home Seller Advice 

While increased interest rates are causing a dip in buyer demand, home inventory is still scarce. Slowing demand is also discouraging some homeowners from selling.

With demand and supply both slipping, the market isn’t likely to flip from a seller’s market to a buyer’s market anytime soon.

As a result, home prices are still expected to increase throughout 2022. Zillow predicts that annual home price appreciation will “continue to accelerate through the spring, peaking at 22% in May before gradually slowing to 17.8% by February 2023.” The increased mortgage rates will slow home price growth, but every major real estate firm still expects home prices to grow this year.

You may be wondering how inflation and our general economic situation play into this. While inflation is hitting the average consumer hard and some worry, we may see a recession in 2023, the real estate market is expected to remain strong. Interest rates are slowing down buyer activity, but it likely won’t be enough to cause a crash. 

In the lead-up to the crash of 2008, the real estate market had already experienced a significant downturn. That’s something we are not seeing today. Many are actually looking to the real estate market to lessen the impact of a possible recession in 2023.

Overall, it is still a fantastic market in which to sell your home. Prices have never been better, and while higher interest rates may make it harder to buy, there are plenty of strategies that can help you find a new home and make the whole process smoother.

The market projections are positive, but the future is still uncertain. This may be your last best chance to sell your home for top dollar before rates climb even more and price more buyers out of the market.

If you’re curious about what your home is worth in today’s market, click the image below then enter your address to instantly calculate your home’s value in today’s market based on recent Flagstaff home sales

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

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. 

If you have any questions about our market or are thinking about buying or selling in Flagstaff, don’t hesitate to call us at 888.446.5602 or email us at kelly.broaddus@exprealty.com. We’re out in the market every day helping clients to buy and sell in Northern Arizona, and we do research so we have the best advice to give you, no matter your situation.

You Might Be Interested In:

Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

Sold! Adorable East Rural Flagstaff Home on 2.5 Acres with Exhilarating Mountain Views

4 Beds | 2 Baths | $574,950

OPEN HOUSE, SAT 5/28 11-3PM

Enjoy this adorable home with lots of space to spread out.  On the corner of two roads, this property is perfect to add an ADU or guest house with a separate entrance!  4 bedrooms and 2 bathrooms and an open floor plan, this affordable home is perfect!  Exhilarating views of the mountains right out all the windows in the back side of the home or while enjoying the hot tub.  The privately fenced courtyard is a great plus when enjoying barbecuing outside.  Call for a private showing, don't let this one get away!! 

Take A 3D Tour

Photos and more information here: 

www.northernarizonafinehomes.com/property/189845/

Location

7680 Hutton Ranch Road

Car-Dependent

Learn more about Hutton/Slayton in Flagstaff

Townsend Winona Rd to Hutton Ranch Rd

Amusement & Recreation 

• Museum of Northern Arizona - Excellent local museum, lots of Native American archeology and Anasazi artifacts.
• Lowell Observatory - Astronomical observatory where the planet Pluto was discovered. Beautiful place to go if you want to enhance your knowledge about astronomy, time with the stars on the horizon explained, and a chance to look through the giant telescope.
• Riordan Mansion State Historic Park - Your tour will lead you through this historic home, filled with original artifacts, handcrafted furniture, and personal items belonging to the Riordan family.

Dining Nearby

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 can also drop by Tinderbox Kitchen and enjoy the tasty food and Flagstaff's authentic vibe. The Northern Pines, it's very conveniently located at the intersection of the I-17 and I-40, they offer lots of great breakfast, lunch and dinner choices made with real ingredients and served hot and fresh.

Schools

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

Hutton Slayton Neighborhood

Slayton is a great, friendly neighborhood with impressive new homes built in recent years. Summer and fall invite invigorating outdoor pursuits to residents and visitors. Hike, ride, and watch all sorts of wildlife and birds. The area is also popular with cyclists due to its low traffic and paved roads.

Visit the Hutton/Slayton community page for more information about this rural neighborhood in east Flagstaff.

Contact Kelly Broaddus at kelly.broaddus@exprealty.com or call 888-4465602 to see this Adorable East Rural Flagstaff Home on 2.5 Acres with Exhilarating Mountain Views or other residential houses for sale in Flagstaff.

Search for Homes in Flagstaff, Arizona

Flagstaff Homes for Sale Under $400,000

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

Flagstaff Homes for Sale $500,000 - $600,000

Flagstaff Homes for Sale $600,000 - $700,000

Flagstaff Homes for Sale $700,000 and above

Kelly Broaddus  |  eXp Realty  |  888.446.5602  | Contact Kelly

An example of how staging your home when selling can help it shine.

Is staging worth it? To answer that question, I’m visiting a wonderful property I helped stage for one of my clients recently that went under contract in less than a month. In the video above, I’ll show you the before and after so you can see for yourself what staging can do. 

At 0:28 in the video, you can see that this home had a lot going on before staging. There was stuff everywhere, and personal items lined the walls. There’s nothing wrong with making your home feel like your own, but it isn’t the best way to get top dollar out of your sale. 

At 1:33 in the video, you can see how pristine everything looks after staging. The home feels inviting yet neutral. Buyers will be able to picture themselves living in this property and making it their own. 

This home is 2,500 square feet with over 20 acres of land. There are three bedrooms, two baths, and an 850 square-foot guest house. As you can see, the entire property is gorgeous. 

If you are interested in staging your home or have any questions about this property, please call or email me. I am always willing to help!

Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

Sold! Live the Dream Flagstaff Lifestyle in this Updated Townhome Backing the Aspen Valley Golf Course

3 Beds | 2.5 Baths | $499,900

 Golf course living! Beautifully located Elk Run townhome backing to the private Aspen Valley Golf Course near hole #17 in the Continental Country Club. Live the dream while enjoying golf course views from the main floor deck, which adjoins the large great room and dining area. Owner just made 20k in updates. Main level also includes the kitchen, with new luxury vinyl extending to the hallway and powder room, new solid surface countertops, over $3k in new stainless-steel appliances (including conversion to gas stove), sink and faucet.  The updated powder room features a new quartz counter and new vanity. The lower level features the master bedroom and bathroom with a private deck overlooking the golf course, as well as a huge bonus room and laundry area with full size washer/dryer.  Upstairs has two bedrooms, one with golf course views, and a shared full bath. Includes a convenient 1-car detached garage with room to store your stuff. Enjoy the amenities of the Continental Country Club including the golf course, clubhouse, swimming pools, tennis/pickle ball courts, fitness center, and kids Bear Paw Activity Center with miniature golf.  

Other updates include: 

• Freshly painted throughout with premium paint 
• New door hardware for front door and interior doors 
• Keyless entry lock 
• New bath shower hardware, faucets and bath towel bars 
• New ceiling fans and lighting throughout the house  
• New 40-gal water heater 
• GFCI outlets in kitchen 

Photos and more information here: 

www.northernarizonafinehomes.com/property/189732/

Location

2404 North Earle Drive

Car-Dependent

Learn more about Elk Run in Flagstaff

Country Club Dr to Soliere to Elk Run St to Whispering Pines to Earle Dr. Home is on the east corner of Whispering Pines and Earle Dr

Amusement & Recreation 

• Museum of Northern Arizona - Excellent local museum, lots of Native American archeology and Anasazi artifacts.
• Lowell Observatory - Astronomical observatory where the planet Pluto was discovered. Beautiful place to go if you want to enhance your knowledge about astronomy, time with the stars on the horizon explained, and a chance to look through the giant telescope.
• Riordan Mansion State Historic Park - Your tour will lead you through this historic home, filled with original artifacts, handcrafted furniture, and personal items belonging to the Riordan family.

Dining Nearby

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 can also drop by Tinderbox Kitchen and enjoy the tasty food and Flagstaff's authentic vibe. The Northern Pines, it's very conveniently located at the intersection of the I-17 and I-40, they offer lots of great breakfast, lunch and dinner choices made with real ingredients and served hot and fresh.

Schools

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

Elk Run Neighborhood

The Aspen Valley Golf Club is a private golf course in the Elk Run area of Flagstaff that features 5 sets of tees for different skill levels. Elk Run residents also have access to the Continental Country Club amenities as part of their $550 annual HOA dues. Visit the Elk Run community page for more information about this neighborhood in southeast Flagstaff.

Contact Kelly Broaddus at kelly.broaddus@exprealty.com or call 888-4465602 to see this Updated Townhome Backing the Aspen Valley Golf Course or other residential houses for sale in Flagstaff.

Search for Homes in Flagstaff, Arizona

Flagstaff Homes for Sale Under $300,000

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

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

Flagstaff Homes for Sale $500,000 and above

Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

Our nation is in the midst of a serious housing crunch. Last year, a lack of inventory and soaring prices left many would-be Flagstaff homebuyers feeling pinched. But now, with interest rates climbing, many of them are also feeling desperate to lock in a mortgage—which has only added fuel to the fire.¹

Fortunately, if you’re a buyer struggling to find a home in Northern Arizona, we have some good news. While it’s true that higher mortgage rates can decrease your purchasing budget, there are additional ways to compete in a hot market.

Yes, a high offer price gets attention. But most sellers consider a variety of factors when evaluating an offer. With that in mind, here are five tactics you can utilize to sweeten your proposal and outshine your competition.

We can help you weigh the risks and benefits of each tactic and craft a compelling offer designed to get you your dream Flagstaff/Sedona home—without giving away the farm.

1.   Demonstrate Solid Financing

The reality is, no one gets paid if a home sale falls through. That’s why sellers (and their listing agents) favor offers with a high probability of closing.

Sellers particularly love all-cash offers because there’s no chance of financing issues cropping up at the last moment. But don’t despair if you can’t pay cash for your home. According to the National Association of Realtors, only about 1 in 4 home purchases are all-cash deals, which means the vast majority are financed with a mortgage.²

If sellers are assured that financing will come through, buying with a mortgage doesn’t have to be a big disadvantage. The most important step you can take as a buyer is to get preapproved before you start looking for homes. A preapproval letter shows sellers that you are serious about buying and that you will be able to make good on your offer.

It’s also important to consider the reputation of your lender. While sellers may not know or care about a lender’s reputation, their agents often do. Some lenders are much easier to work with than others, especially if you are pursuing certain types of mortgages like FHA or VA loans.³ If so, you’ll want a lender who specializes in these types of mortgages. If you’re unsure who to choose, we are happy to refer you to reputable lenders known for their ease of doing business.

2.   Put Down a Sizeable Deposit

Buyers can show sellers that they’re serious about their offer and have “skin in the game” by putting down a large earnest money deposit.

Earnest money is a deposit held in escrow by a title company or the seller’s broker or lawyer.  If the purchase goes through, it is applied to the down payment and closing costs—if the sale falls through, the buyer may lose some or all of that deposit.

While an earnest money deposit is typically around 1-2% of the sale price, offering a higher deposit can help demonstrate to the buyer that you are serious about the property.⁴ However, this strategy can also be risky. We can help you determine an appropriate deposit to offer based on your specific circumstances.

3.   Ask for Few (or No) Contingencies

Most real estate offers include contingencies, which are clauses that allow one or both parties to back out of the agreement if certain conditions are not met. These contingencies appear in the purchase agreement and must be accepted by both the buyer and seller to be legally binding.⁵

Common contingencies include:

• Financing: A financing contingency gives the buyer a window of time in which to secure a mortgage. If they are unable to do so, they can withdraw from the purchase and the seller can move on to other buyers.
• Inspection: An inspection contingency gives the buyer the opportunity to have the home professionally inspected for issues with the structure, wiring, plumbing, etc. Typically, the seller may choose whether or not to remediate those issues; if they do not, the buyer may withdraw from the contract.
• Appraisal: Most lenders will not offer a mortgage on a home that costs more than it's worth. An appraisal contingency gives the buyer an opportunity to get the home professionally assessed to ensure that its value is at or above the sales price. If an appraisal comes in low, the seller may be asked to renegotiate the contract.
• Sale of a prior home: Some buyers cannot afford to purchase a new home until they sell their previous one. If the buyer is unable to sell their current home within a specified window of time, this contingency enables them to withdraw from the contract without penalty.

Since contingencies reduce the likelihood that a sale will go through, they generally make an offer less desirable to the seller. The more contingencies that are included, the weaker the offer becomes. Therefore, buyers in a competitive market often volunteer to waive certain contingencies.

However, it’s very important to make this decision carefully and recognize the risks of doing so. For example, a buyer who chooses to waive a home inspection contingency may find out too late that the home requires extensive renovations, and a buyer who waives the appraisal may risk their mortgage falling through. If you back out of a home purchase without the protection of a contingency, you could lose your earnest money deposit.⁶ We can help you assess the risks and benefits involved.

4. Offer a Flexible Closing Date and/or Leaseback Option

When it comes to selling a house, money isn’t everything. People sell their homes for a wide variety of reasons, and flexible terms that work with their personal situations can sometimes make all the difference. For example, if a seller is in the process of planning a significant move, they may prefer a longer closing timeline that gives them time to find housing in their new location.

Similarly, short-term leaseback options, in which the sale is completed but the seller retains the right to rent the home for a specified period of time, can be compelling.⁷ These arrangements enable the seller to use the money from the sale of their home to purchase their next house. A leaseback agreement also makes it possible for them to avoid moving twice when their next home is not yet ready to occupy.

Flexible closing dates and leaseback options can provide a powerful advantage for first-time homebuyers. If you have a month-to-month or easily transferable lease, for example, you may be able to offer a more flexible timeline than a buyer who is simultaneously selling their existing home.

Of course, the value of these terms depends on the seller’s situation. We can reach out to the listing agent to find out the seller’s preferred terms, and then collaborate with you to write a compelling offer that works for both parties.

5. Work with a Skilled Buyer’s Agent

In this ultra-competitive real estate market, one of the greatest advantages you can give yourself is to work with a skilled and trustworthy real estate professional. We will make sure you fully understand the process and help you submit an appealing offer without taking too much risk.

Plus, we know how to write offers that are designed to win over both the seller and their listing agent. The truth is, listing agents play a huge role in helping sellers evaluate offers, and they want to work with skilled buyer’s agents who are professional, communicative, and courteous.

Once your offer is accepted, we’ll also handle any further negotiations and coordinate all the paperwork and other details involved in your home purchase. The best part is you’ll have a knowledgeable, licensed advocate on your side who is watching out for your best interests every step of the way.

Helping You Get to the Right Offer

In many cases, a competitive offer doesn’t need to be all-cash, contingency-free, or significantly above asking price. But if you’re serious about buying a Flagstaff home in today’s market, it’s important to consider what you can do to sweeten the deal.

If you’re a buyer, we can help you compete in today’s market without getting steamrolled. And if you’re a seller, we can help you evaluate offers by taking all the relevant factors into account. Contact us today at 928.606.6749 or email kelly.broaddus@exprealty.com to schedule a free consultation.

Sources:

1. National Association of Realtors -
   https://www.nar.realtor/newsroom/pending-home-sales-dwindle-4-1-in-february
2. National Association of Realtors -
   https://www.nar.realtor/newsroom/existing-home-sales-fade-7-2-in-february
3. Forbes -
   https://www.forbes.com/advisor/mortgages/housing-crisis-tips/
4. Realtor.com -
   https://www.realtor.com/advice/finance/earnest-money-deposit-mistakes-buyers-make/
5. Bankrate -
   https://www.bankrate.com/real-estate/contingency-clause/
6. Home Buying Institute -
   http://www.homebuyinginstitute.com/mortgage/risks-of-waiving-a-contingency/
7. Realtor.com -
   https://www.realtor.com/advice/sell/what-is-a-rent-back-agreement

YOU MIGHT BE INTRESTED IN:

Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

Sold! Enjoy the Best of Flagstaff at this Affordable Country Club Home

  3 Beds | 2 Baths | $518,000

Wonderful opportunity to own an affordable home in Continental Country Club! Large deck in back yard and nice wood deck in front to enjoy the nice weather. With a little love, this home would shine! Located on a cul-de-sac, this wonderful home is full of possibilities! Within easy distance of all Continental Country Club's amenities, and a short drive to the Flagstaff Mall and Auto Park.

It could be the perfect home away from home. And with such a convenient location you have the best of Flagstaff at your fingertips.

Photos and more information here:

https://www.northernarizonafinehomes.com/property/189633/#

Take a Virtual Tour: VIRTUAL TOUR

LOCATION

2764 North Mariah Way

Car-Dependent

Learn more about Continental Country Club Flagstaff

Butler, left on Continental, left on Rio de Flag, right on Carefree Circle, right on Mariah Way - home is on left

Amusement & Recreation 

• NAU Art Museum- Includes an exhibit building, research labs, and state of the art collections facilities for more than five million Native American artifacts, natural science specimens, and fine art pieces.
• Hal Jensen Recreation Center - Is designed for family fun and fitness with a variety of drop-in hours.
• Thorpe Park Center - Great place for the whole family including the furry ones. There are plenty of activities for the kids, playground area, picnic tables, lots of grass areas, sports fields, a dog park, adequate parking.  

Dining Nearby

Nearby restaurants include Nomads Global Lounge, if you are looking for an unusual menu with a great range of flavors this is a great place for you. You can also drop by at Tinderbox Kitchen and enjoy the good food and Flagstaff's authentic vibe. Satchmo’s is also a great place for dinner with a group. If you're looking for crafted BBQ and Cajun cooking it's just a small detour from the main road.

Nearby Schools

• Thomas M Knoles Elementary School
• Mount Elden Middle School
• Coconino High School

Continental Country Club Neighborhood Information 

Residents on HOA enjoy access to club house with pools and tennis and all amenities that Continental Country Club has to offer. This is a quiet and friendly area yet close to Flagstaff's downtown. Visit the Continental Country Club community page for more information about this premier Flagstaff community with an 18-hole course nestled at the foot of the San Francisco Peaks. 

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

Search for Homes in Flagstaff, Arizona

Flagstaff Homes for Sale Under $400,000

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Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

Sold! Beautiful City of Williams Home with Forest & Golf Course Views
3 Beds | 2.5 Baths | $679,750

Imagine waking up to a morning walk out your back door to the forest, walking across the way to enjoy a game of golf, this home is positioned for every type of enthusiast! Enjoy 3 bed 2.5 bath with a potential two loft bedrooms, it is exquisite! With all the custom wood features, you will love just sitting and looking at it all! With plenty of room for toys, the 3-car attached garage with bonus storage gives you plenty of room for everything! This one is a must see! Don't miss out!

Take a Virtual Tour

More photos and information:

www.northernarizonafinehomes.com/property/189487/

Location

3166 Raven Court

Car-Dependent

Learn More About Williams City

West on I-40 to exit 161, turn right follow frontage road to Country Club Rd, turn left on Highland Meadows Dr follow around to Raven Court. Home is towards the back and right

Dining Nearby

• If you are 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 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

• Elephant Rocks Golf Course - Splendid views from this great 18-hole course! Playing golf in an alpine forest & a mountain meadow makes for a tranquil day. The Clubhouse gives a National Park vibe.
• Grand Canyon Railway Station - Refurbished train cars have been restored to their 1920s grandeur and air conditioning has been added. Comfortable seating and 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

Flagstaff AZ Real Estate Market Data Provided by The Kelly Broaddus Group Brokered by eXp / by Joselyn Uy

Spring Rush Came Early to Flagstaff, Home Sales Surge in March

Hello spring! Flagstaff Home Sales are up, prices are too, and days on the market are down. Here's our latest update

FLAGSTAFF HOME SALES

The US Existing-Home Sales Slip 2.7% in March while Greater Flagstaff's housing sales surged 42.7% from February according to data provided by the Northern Arizona MLS. There was a total of 127 homes sold, which is down 15.9% from a year ago, the highest recorded March sales.

"The housing market is starting to feel the impact of sharply rising mortgage rates and higher inflation taking a hit on purchasing power," said Lawrence Yun, NAR's chief economist. "Still, homes are selling rapidly, and home price gains remain in the double-digits."

FIRST QUARTER 2021 HOME SALES DOWN

The first quarter home sales are historically the slowest of the year. There were 324 units sold and this is down 8.7% from 355 a year ago, the most ever for the first quarter.

Home sales usually dip in the winter before climbing in the spring as families try to settle in before starting a new school year, but some would-be sellers are staying put because housing prices and interest rate increases have reduced their ability to buy their next homes. Since finding and buying a home is such a challenge, sales lagged a bit at the start of the quarter.

In the month of March, the Broaddus Properties Group Brokered by eXp Realty sold two properties in Northern Arizona valued at over $600K. Big thanks to our Flagstaff and Parks clients. Last year we helped buy and sell 8 homes worth $3.3M+. 

FLAGSTAFF MEDIAN HOME PRICE

"The median list-to-sales ratio for this area is 101.5%." List to Sales Ratio is the percentage of the list price that the buyer paid for the property.

The median sold price in March is up 31.2% year over year to $697,150, a new monthly high. Homes remained on the market for an average of 35 days. This is much faster than the 42 days we saw in February, and faster than the 43 days we saw a year prior. This is welcome news for home sellers, which shows that overall demand remains historically high.

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March 2022 Flagstaff Market Watch Summary

Total Home Sales - 127 homes, down 15.9% vs March 2021.

Median Sale Price - $697,150 up 31.2% vs March 2021, highest in more than a decade

Mortgage rates - Average 30-year fixed-rate mortgage rate ended 4/19 at 5.27%. Rates can change rapidly during the day, and massively from week to week even though they can also be very boring for months on end.

Longest days on market (SF): 381 days This is a newly built custom 4-bedroom home in Flagstaff Ranch with decks and a walkout basement. Nestled on large lot with beautiful ponderosa pines.

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 must be off the MLS for at least 90 days for the CDOM to restart, even if a different agent lists it. We report the average days on the 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 2022

Photo courtesy of Realty One Group, Mountain Desert

• The highest-priced single-family Flagstaff home that sold in March was a $2,210,000 six-bedroom on over 5 acres located in Saskan Ranch, a short drive to Downtown Flagstaff. This luxury home boasts a full-sized sand volleyball court, playhouse, in-ground pool with spa and rock waterfall.
• The highest-priced Flagstaff townhome sale was a $775,000 luxury 3-bedroom townhouse in Pinnacle Pines located on a private cul de sac with mountain views and oversized backyard.
• The highest-priced Flagstaff condominium sale was a $401,000, two-bedroom, Summit Park condo with Carport parking and views of beautiful pines.

THE MOST AFFORDABLE FLAGSTAFF HOMES SOLD in MARCH 2022

Photo courtesy of RE/MAX Fine Properties

• The lowest-priced single-family Flagstaff home that sold in March was a $299,000 two-bedroom Mountain View Ranchos fixer-upper on 2.05 acres that is zoned AR, allowing for many uses. No HOA. There is a barn with 4 storage sheds and corral. 
• The lowest-priced Flagstaff townhome that sold last month was a $275,000 two-bedroom Sunnyside townhome with mountain views and proximity to hiking trails, downtown Flagstaff, Buffalo Park, hospital
• The lowest-priced Flagstaff condominium sold was a $250,000 one bedroom The Village (Litzler Lane) unit on Building #10.  Located next door to community gym, mail, and activity space. Close to Northern Arizona University, shopping, restaurants, trails, hiking, and biking.

Flagstaff Home Buyer Advice

There are several different issues facing homebuyers these days. For example, due to pandemic-related economic issues and the tragic collapse of a condo building in Surfside, Florida, new adjustments have been made to mortgage rules and regulations for condos nationwide. Extra due diligence is required from lenders for approving condo units for conventional loans. 

Additionally, condo associations for buildings that were built 20 or more years ago that have deferred maintenance, building inspection findings, or jurisdictional findings are under increased scrutiny. The purchase of older condos may be more difficult and expensive for buyers.

Another thing to know is that because of the expanded pool of second-home buyers, mortgages for high-balance loans and vacation home loans will have an extra fee as of April 1, 2022. For high-balance loans, borrowers will pay between 0.25% and 0.75% of the loan amount. For second-home loans, borrowers will pay 1.125% to 3.87%. 

This updated fee structure is meant to increase the capital available to Fannie Mae and Freddie Mac to help first-time buyers and low-income households. This comes at a time when record-high home appreciation and reduced purchasing power make it difficult for these groups.

Other changes include the fact that additional COVID-related paperwork is no longer required for self-employed borrowers. Two years of tax returns can be used instead. Additionally, loan applicants without a robust credit history can now use on-time rent payments to build their credit and get a better loan.

Even with an outstanding credit score, this seller’s market can be frustrating to navigate if you’re a buyer. Sustained strong buyer demand, low inventory, record-high price appreciation, rising mortgage interest rates, and diminishing affordability have made purchasing a home more competitive than ever. 

To combat inflation, the Federal Open Market Committee is raising the federal funds rate, which will reduce demand for big-ticket items typically financed by debt. However, as mortgage interest rates increase, buyer affordability declines, and with appreciation being as high as it is, this loss of buying power is felt hardest by first-time and lower-income buyers.

So, what can you do to combat this? 

• First, keep your credit score clean and, ideally, increase it. Consider the aforementioned on-time rent payment credit building programs. A higher credit score will always help you secure a better loan.
• You should also try to keep your housing costs to no more than 20% of your income. This will stress-test your budget and cash flow and help you understand if this is feasible.
• Additionally, after you purchase, be very patient with spending, and overestimate what you think you’ll need for expenses like furniture, yard maintenance, and repairs. These tips will make your experience a lot smoother.

If you’d like to look at what’s available on the market today, you can view the homes that are available in the Northern Arizona MLS right now:

Click here to see all Flagstaff homes for sale

Search Northern Arizona Homes For Sale

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

Sign up for free to receive our updates about coming soon properties and homes for sale not listed on the MLS. I can set up a customized search so you’ll get notified when new listings that meet your criteria hit the market.

Flagstaff Home Seller Advice 

Today, there are far more buyers looking for homes than sellers listing their houses. Here are the maps of the latest buyer and seller traffic from the National Association of Realtors (NAR) to help paint the picture of what this looks like:

Notice how much darker the blues are on the left. This shows buyer traffic is strong today. In contrast, the much lighter blues on the right indicate weak or very weak seller traffic. Briefly, the demand for homes is significantly greater than what’s available to purchase.

What That Means for You

If you want to take advantage of this market and extract as much value out of your property as possible, now is the time to sell. Selling when demand is high, and supply is low sets you up for a big win.

Last year was a hot sellers’ market. This year, inventory is even lower, and that means an even bigger opportunity for you. Even though finding your next home in a market with low inventory can be challenging, is that concern worth passing on some of the best conditions sellers have ever seen?

A skilled agent can help you capitalize on the fantastic opportunity you have as a seller today and guide you through the buying process until you find the perfect place to call your next home.

If you’re ready to move, you have an incredible opportunity in front of you today. Trust the experts. Let’s connect so you have expertise on your side that can help you win when you sell and when you buy.

If you’re curious about what your home is worth in today’s market, click the image below then enter your address to instantly calculate your home’s value in today’s market based on recent Flagstaff home sales

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

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. 

If you have any questions about our market or are thinking about buying or selling in Flagstaff, don’t hesitate to call us at 888.446.5602 or email us at kelly.broaddus@exprealty.com. We’re out in the market every day helping clients to buy and sell in Northern Arizona, and we do research so we have the best advice to give you, no matter your situation.

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Kelly Broaddus |  eXp Realty | 888.446.5602 | Contact Kelly

Flagstaff and Sedona are still in a seller’s market, but that doesn’t mean your Northern Arizona home is guaranteed to easily sell.¹ If you want to maximize your sale price, it’s still important to prepare your home before putting it on the market.

Start by connecting with a real estate agent as soon as possible. Having the eyes and ears of an insightful real estate professional on your side can help you boost your home’s appeal to buyers. What’s more, beginning the preparation process early allows you to tackle repairs and upgrades that can increase your property’s value.

Use the checklist below to figure out what other tasks you should complete in the months leading up to listing your home. While everyone’s situation is unique, these guidelines will help you make sure you’re ready to sell when the time is right. Of course, you can always call us if you’re not sure where to start or what to tackle first. We can help customize a plan that works for you.

AS SOON AS YOU THINK OF SELLING

Some home sellers want to plan their future move far in advance, while others will be required to pack up on very short notice. Whatever your circumstances, these first steps will help assure you’ll be ahead of the listing game.

• Contact Your Real Estate Agent

We go the extra mile when it comes to servicing our clients, and that includes a series of complimentary, pre-listing consultations to help you prepare your home for the market.

Some sellers make the mistake of waiting until they are ready to list their home to contact a real estate agent. But we’ve found that the earlier we’re brought into the process, the better the result. That often means a faster sale—and more money in your pocket after closing.

We know what buyers want in today’s market, and we can help devise a plan to maximize your property’s appeal. We can also connect you with our trusted network of contractors, vendors, and service professionals, so you’ll be sure to get VIP treatment. This network of support can alleviate stress and help ensure you get everything done in the weeks or months leading up to listing.

• Address Major Issues and Upgrades

In most cases, you won’t need to make any major renovations before you list. But if you’re selling an older home, or if you have any doubt about its condition, it’s best to get us involved as soon as possible so we can help you assess any necessary repairs.

In some instances, we may recommend a pre-listing inspection. Although it's less common in a seller's market, a pre-listing inspection can help you avoid potential surprises down the road. We can discuss the pros and cons during our initial meeting.

This is the time to address major structural, systems, or cosmetic issues that could hurt the sale of your home down the line. For example, problems with the frame, foundation, or roof are likely to be flagged in an inspection report. Issues with the HVAC system, electrical wiring, or plumbing may cause the home to be unsafe. And sometimes outdated or unpopular design features can limit a home’s sales potential.

Remember, when you’re dealing with major repairs or renovations, it’s best to give yourself as much time as possible. Given rampant labor and material shortages, starting right away can help you avoid costly delays.² Contact us so we can guide you on the updates that are worth your time and investment.

1 MONTH (OR MORE) BEFORE YOU LIST

Once any large-scale renovations have been addressed, you can turn your attention to the more minor updates that still play a key role in how buyers perceive your home.

• Make Minor Repairs

Look for any unaddressed maintenance or repair issues, such as water spots, pest activity, and rotten siding. This is the time to take care of those small annoyances like squeaky hinges, sticking doors, and leaky faucets, too.

Many of these issues can be handled by going the DIY route and using a few simple tools. Tackle the ones you can and be sure to call a professional for the ones you’re not comfortable doing yourself. We can refer you to local service providers who can help.

Remember that it’s easy to overlook these small issues because you live with them. When you work with us, you get a fresh set of eyes on your home—so you don’t miss any important repairs that could make a significant difference to buyers.

• Refresh Your Design

This is an exciting time to think about some simple design updates that can make a significant impression on buyers. For example, a fresh coat of paint is an easy and affordable way to spruce up your home. One survey found that interior paint offered a 107% return on investment.³ For broad appeal, opt for warm, neutral colors.

And never underestimate the importance of good curb appeal. Homes with good curb appeal sell for 7% more, on average, than comparable homes with an “uninviting exterior.”⁴ If the weather permits, lay fresh sod where needed, plant colorful flowers, and add some new mulch to your beds.

Even just repositioning your furniture can make an enormous difference to buyers. A survey by the Real Estate Staging Association found that staged homes sold faster, and 73% sold over list price.⁵ We can refer you to a local stager or offer our insights and suggestions if you prefer the DIY route.

• Declutter and Depersonalize

Doing a little bit of decluttering every day is a lot easier than trying to take care of it all at once right before your home hits the market. A simple strategy is to do this one room at a time, working your way through each space whenever you have a bit of free time.

Start by donating or discarding items that you no longer want or need. Then pack up any seasonal items, family photos, and personal collections you can live without for the next few weeks. Bonus: This will give you a head start on packing for your move!

1 WEEK BEFORE YOU GO TO THE MARKET

With just one week before your home is available for sale, all major items should be crossed off your to-do list. Now it’s time to focus on the small details that will really make your home shine. Here are a few key areas to focus on during this last week.

• Check-In With Your Agent

We’ll connect again to make sure we’re aligned on the listing price, marketing plan, and any remaining prep. We will be there every step of the way, ensuring you’re fully prepared to maximize the sale of your home.

• Tidy Your Exterior

You’ve already done the major landscaping—now it’s time to tackle the last few details. Make sure your lawn is freshly mowed, hedges are trimmed, and flower beds are weeded.

In addition, now is the time to clean your home’s exterior if you haven’t already. Power wash your siding, empty the gutters, and wash all your windows and screens.

• Deep Clean Your Interior

Your house should be deep cleaned before listing, including thorough deodorizing of the home’s interior and steam cleaning for all carpets. Consider hiring a professional cleaning company to ensure the space smells and looks as fresh as possible.

In addition to cleaning, take some time to tidy up. Buyers will look inside your closets, pantries, and cabinets, so make sure they are neat and organized. Small appliances and toiletries should be cleared off the countertops.

DAY OF SHOWING

Now you’re all set to go and there are just a few small things you need to handle on the day of showings or open houses. Do a final walk-through and take care of these final additions to give potential buyers the best possible impression.

• Pre-Showing Prep

Happy and comfortable buyers are more likely to submit offers! Make them feel at home by adjusting the thermostat to a comfortable temperature. Open any blinds and curtains throughout the house and turn on all lights so buyers can see all the potential in your home.

Then tidy up by vacuuming and sweeping floors, emptying (or hiding) trash cans, and wiping down countertops. In the bathrooms, close toilet lids and hang clean hand towels.

Don’t forget to secure firearms, jewelry, sensitive documents, prescription medications, and any other items of value in a safe or store them off-site.

Finally, it’s best to have pets outside of the house during showings. If possible, you should also remove evidence of pets (litter boxes, dog beds, etc.), which can be a turn-off for some buyers.

DON’T WAIT TO PREP YOUR HOME FOR SELLING

If you want to get top dollar for your home, don’t put it on the market before it’s ready. The right preparation can make all the difference when it comes to maximizing the offers you get. The upgrades and changes you need to make will depend upon your home’s condition, so don’t wait to speak with an agent.

Call our Broaddus Properties team if you’re thinking about selling your Northern Arizona home, even if you’re not sure when. It’s never too early to seek the guidance of your real estate agent and start preparing your home to sell.

Sources:

1. Fortune -
   https://fortune.com/2022/02/08/should-i-buy-house-sellers-market-housing-real-estate-fannie-mae/
2. Forbes -
   https://www.forbes.com/advisor/home-improvement/labor-materials-shortage-impacts-renovations/
3. PR Web -
   https://www.prweb.com/releases/2012-homegain/home-improvement-survey/prweb9433460.htm
4. Realtor Magazine -
   https://magazine.realtor/daily-news/2020/01/27/how-much-does-curb-appeal-affect-home-value
5. Real Estate Staging Association -
   https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548

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