Realty Executives of Flagstaff

Jeff Ross

DRE# SA632356000 (928) 225-3511

Jeff Ross

DRE# SA632356000

Blog

Flagstaff Housing, What's Happening? and some about Wildflowers

(Published on - 6/25/2020 4:57:00 PM)

To our Local Flagstaff Market.
What is really happening in our market?
Today, the housing market is about as active as we have seen in years.
Why?
     As of the end of May

  • We had 16% fewer homes on the market then the year before
  • Mortgage interest rates are hovering in the 3.5% range and expected to stay that way through the end of the year
  • Our Absorption Rate, the number of months it will take to sell all the homes on the market is siting at 3.4 months, down from 4.5 months in 2019.
  • Experts in Real Estate say 6 months is a good figure, any more and we are in a Buyer’s Market, any less and in a Seller’s Market.
  • We are Strongly entrenched in a Seller’s Market

So Today,
Fewer homes on the market, not enough for the current number of buyers out looking.
Many homes priced within the market value they are located  in are getting multiple offers. 
Next month will be the end of the 1st half of 2020, at that time I will give a more detailed look into our market. 
Until then, please never hesitate to reach out,

 Wild Flower Garden

As mentioned last month, I got some Native WildFlower seeds from 'The Arboretum at Flagstaff' and planted those on May 10th.
Things are progressing, but interesting to know that my friends Megan and Chads garden is way ahead of mine and they planted theirs just a week before mine. This does show how the micro-climates and daily sun levels affect plant growth around Flagstaff.

Here are the Native Plants that sometime in the future will mature.
I did talk to a friend who has gone though the Master Garden program, she planted seeds last year, and then this year. Those that were planted last year are up and almost blooming and those planted this year are about where mine are, out of the ground an inch or so, she said patience:) is the key, the time will come.

 

As you look at the two pictures, the top section gets slightly less sun and those are head of the bottom section that gets more sun. Though neither get much sun until 1:00'ish each day.

Also at least at this point, there are slight different seeds maturing and sprouting in the area that gets more intense sun?

Below is the list of seeds that were in the packets.
I was going to do close-ups of  the different sprouts coming up, but just a little early for that, maybe next month.

Common yarrow (Achillea millefolium), Spreading fleabane (Erigeron divergens), Winged buckwheat (Eriogonum alatum), Redroot buckwheat (Eriogonum racemosum), Sulfur-flower buckwheat (Eriogonum umbellatum), Red dome blanketflower (Gaillardia pinnatifida), Scarlet gilia (Ipomopsis aggregata), Rocky Mountain iris (Iris missouriensis), Hoary tansyaster (Machaeranthera canescens), Wild bergamot (Monarda fistulosa), Sunset Crater penstemon (Penstemon clutei), Palmer’s penstemon (Penstemon palmeri), Mexcian hat (Ratibida columnifera), Cut-leaf coneflower (Rudbeckia laciniata), Fendler’s globemallow (Sphaeralcea fendleri), MacDougal verbena (Verbena macdougalii)

 This years Plant Sale at the Arboretum may be online, and is scheduled for July 18 from 9  to 2, check out the link.
Also here is the link for the Summer Gardening Tips the Arboretum puts out.

The Wildflower garden is progressing and will keep you up to date throughout the summer with this little experiment.

 One last picture,

Been out riding a lot this summer.  This was a ride that we did on the Arizona Trail from Goose Springs just past Mormon Lake to Happy Jack. Super ride, little over 20 miles passing through some great back country.

This was a small tank we stopped at in the middle of the ride.
I would say to enjoy the sights and smell the flowers, but the Rocky Mountain Iris (Iris missouriensis)  had just bloomed the weeks before and were done for the season.
This was a great ride that I would highly recommend.
Next adventure, from Happy Jack to ? well someplace south east, maybe to Clint's Well

Until next month,
Please never hesitate to reach out with any questions you have or topics you want to discuss.
Heck, there are a lot, Real Estate, WildFlowers, Hiking, Mt Biking, and Golf.

Best wishes

Jeff

Predicting Your Future Housing Needs

 
 
 
What will your housing needs be in three to five years? If you can figure that out, you can watch the market, target areas and neighborhoods you might like to live in, and reap the benefits of planning ahead.

To begin the process, start by asking yourself the following questions:

  • What will my family look like in three to five years? Will there be a new addition (or two) to your family? Will you have kids that are grown up and about to move out? What is the possibility that an elderly relative (Mom, Dad or grandparent) will be living with you?
  • What will change regarding work and school? Will a teenager be off to college? Will you or your spouse be retired? Will someone in your household be starting a home business?
  • How will your lifestyle be different? Will you take up a hobby that you’d like to be able to reach easily (such as golf)? Do you see yourself wanting to live closer to shopping, theatre, walks in the woods, etc.? Will you eventually be traveling more often and, therefore, not be at home as much?
  • How is the neighborhood changing? Where is it heading relative to your future needs in terms of residents, noise, sense of community, local developments, etc.? Do you see yourself wanting to live in a quieter community, or a more urban center?
  • Will the type of home you need change? In three to five years, can you see yourself wanting a larger home? Smaller home? More bedrooms? Larger kitchen?
  • What are your dreams? Do you dream of living in a particular area or neighborhood? Would you love to have a big backyard with a garden someday? Do you sometimes think, “It would be great to have a wooded park with walking trails just a few minutes away.”

By looking three to five years into the future, you will be able to predict your housing needs and make plans - today - to ensure you get what you want in the future.

 

Whole-Home Security Systems Continue to Evolve

 
 
 
Until recently, even the latest home security system could become obsolete overnight. But, newer whole-home integration systems are much more compatible with interchangeable parts and innovative add-ons.

As a result, it’s now possible to have a multi-faceted security system that watches over many of the functions and activities in and around your home. For example, you can organize and control your home’s exterior cameras, motion detectors, door locks, window coverings, lighting, entertainment, appliances and HVAC with one system.

If you’re buying an entirely new system, there are many established and emerging brands available, so consider their functions, cost, convenience and reliability. But, if you want the whole-home system to manage existing utilities and appliances, things can become challenging. You will need to ensure that your specific devices can communicate with your new hub, which means you need to identify the protocol under which they can share information. Because their compatibility is not certain, it’s advisable to identify the make and model of your existing equipment and check for compatibility before you purchase a new security hub or system.

 

Lists to Make When Selling Your Home

 
 
 
When you put your property up for sale, you want to make sure that potential buyers get all the information they need on the features of your home and its surrounding area. If, for example, a buyer doesn’t realize there is a great school just a couple of blocks away, he might cross your property off his shortlist.

An effective way to make sure something like that doesn’t happen is to create three lists. 

#1: The “I’ll miss it” list.
Chances are, there are things about your home that you’re really going to miss when you move. It may be the spacious living room, ideal for entertaining. Or maybe it’s the nearby park with scenic trails, perfect for walking and biking, or the large deck that has just the right combination of shade and sun to make spending time on it so pleasant. Whatever you’ll miss, put it on the list! Those are features that will probably interest buyers too.

#2: The “Just the facts” list.
What are the facts about your property that a buyer needs to know in order to consider purchasing it? This may be a very long list including such items as total square footage, number of bedrooms and bathrooms, property taxes, size of the lot, and more. This list should also include special features such as upgraded kitchen features and the nearby golf course.

#3: The “repairs and improvements” list.
Buyers are interested in the state of repair of your home, and in any improvements you have made to it. On this list, include all repairs you have done during the past three years and, if possible, attach receipts. It’s especially important to include anything that has been replaced, such as a furnace or roof. If you’ve done any major remodelling or renovations, include the details on those too.

Want more tips on selling your home? Call today.

 

About the Author:

Jeff Ross
Realty Executives of Flagstaff
Phone: 928-773-9300
Direct: 928-225-3511
Mobile: 928-607-5556
Email: JEFF@ALLFLAGSTAFFHOMES.COM
Website: www.AllFlagstaffHomes.com

How about Flagstaff Native Wildflowers and a Garden?

(Published on - 5/21/2020 6:14:12 PM)

Lets talk about something besides Real Estate this month;

I recently had the opportunity to listen to Kristin Haskins, the Executive Director of The Arboretum at Flagstaff speak at our local Flagstaff Rotary Club.
Her topic covered a lot of what is happening at the Arboretum and about Native Wildflowers.

About the Arboretum:

The Arboretum at Flagstaff was founded by Frances McAllister in 1981 as a private nonprofit organization under the official name "The Transition Zone Horticultural Institute." While research was the original primary focus, over the years it has become known as a destination for local and out-of-town visitors who want to learn more about the native plants and animals found in northern Arizona, and as a wonderful venue for a wide variety of events and educational programs.

Mission:

The Arboretum at Flagstaffs mission is to increase the understanding, appreciation, and conservation of plants and plant communities native to the Colorado Plateau. We strive to:

  • Identify, evaluate, display, and introduce plants adaptable to the climatic and soil conditions of the Flagstaff environment
  • Seek through scientific research innovative solutions to conservation issues of this high altitude environment
  • Develop educational programs that increase the understanding of the need for wise stewardship of our natural environment.

 

Here are some Spring Seeding and Gardening Tips the Arboretum has put out.

So with all that,

I picked up some of their Native Wild Flower Seeds.
Last week on Mothers Day, May 10th I prepared a small bed in the front corner of our lot and planted the seeds.

This will be a fun experiment on how well I prepared the soil, planted the seeds and  have been keeping them watered until they sprout.

So every morning and evening, they get a drink, this morning I found 1 lone seed that has sprouted. Our friends Chad and Megan planted theirs on the 3rd and have a lot more up already, so mine I hope are just about ready to wake up.

The plot does not have any morning sun, there is a large Ponderosa Pine tree on the left you do not see and a Blue Spruce on the back right you do see.

The picture direction as you are looking at is pointed pretty close to East. So sun hits this spot about 1:00 p.m. every day.

My goal will be to update you on the garden throughout the summer.

Also in future newsletters I plan to give you more information about the Arboretum at Flagstaff. Kristin has provided a a list of the plants and will get that to you in my next newsletter. There are 16 native plants on the list. If you would like that ahead of time, reach out and I can send to you.
I also asked what book I should get to better understand our local Native Plants, she suggested;
Native Plants for High-Elevation Western Gardens by Jan Busco and Nancy Morin, this book was done in partnership with the Arboretum at Flagstaff

This will be fun to see how well this garden progresses through the summer.

I look forward updating you and please never hesitate reach out.
There are a number of things we can talk about besides Real Estate, so would love to visit.

~Jeff

 

Estimating Your Selling Costs

 
 
 
When the time comes to sell your house, you’ll want to determine roughly how much you can expect to net after the sale. To figure that out, you’ll not only need to know how much your house will likely sell for, but also the selling costs you are likely to incur in the process.

The costs of selling vary depending on a number of factors. Here’s a general rundown of what to consider:

  • Repairs. You will want your house to look its best to buyers. That may require you to get any needed repairs done before listing. You don’t want a buyer to see a dent in the wall or a dripping faucet.
  • Renovations. It might make sense to get a few improvements done to make the house more attractive. For example, you may want to replace old and worn kitchen countertops.
  • Legal fees. Selling a house requires a lot of legal work. You’ll need a good real estate lawyer to take care of that for you.
  • Commissions. This is usually calculated as a percentage of the sale price.
  • Moving costs. Once you sell, you’ll obviously need to move! So, factoring in this expense is a smart idea.

Although this may seem like a long list, selling costs are fairly easy to estimate. Once you have that number, it’s easy to calculate how much money you’ll have available to put towards your next home.

How to Quickly Improve Indoor Air Quality

 
 
 
There are many reasons why the air quality in your home may not be at its best. A faulty furnace or an aged carpet are just two potential culprits. Until you get those issues addressed, how can you make your indoor air healthier - today?

Here are some ideas:

Check the furnace filter. This is one of the most overlooked maintenance items in the home. Any furnace repair person can tell you stories about filters they’ve seen caked in dust. Make sure those aren’t yours. Air passes through those filters before circulating throughout your home. Replacing a filter takes less than five minutes.

Clean the drains. Drains are a surprisingly common source of odor in the home. Most people only clean them when they’re clogged, but they should be flushed thoroughly with a good-quality cleaner at least once a season.

Turn on the bathroom fan. Not only do bathroom fans remove odor, they also reduce moisture build-up. About 50% of air pollutants originate from some type of moisture. Mold is the worst of these pollutants. Professionals recommend you keep your bathroom fan on for at least 30 minutes after a shower.

Clean your doormat. Even if your doormat doesn’t smell, it can be a source of air pollutants. When people wipe their shoes, they transfer outside ground pollutants from their shoes to your mat.

Of course, you can always open a window. That’s the most popular and easiest way to freshen the air, and it works.

 

Notable, Quotable, Quotes!

“If you cannot do great things, do small things in a great way.”
Napoleon Hill

“Logic will get you from A to B. Imagination will take you everywhere.”
Albert Einstein

“Motivation is the art of getting people to do what you want them to do because they want to do it.”
Dwight Eisenhower

 

 

About the Author:

Jeff Ross
Realty Executives of Flagstaff
Phone: 928-773-9300
Direct: 928-225-3511
Mobile: 928-607-5556
Email: JEFF@ALLFLAGSTAFFHOMES.COM
Website: www.AllFlagstaffHomes.com

Think This Is A Flagstaff Housing Crisis? Think Again

(Published on - 4/30/2020 6:48:21 PM)

So, Where are we today, Here in Flagstaff in our Housing Market?

I can tell you where we are today, the end of the month March, 2020, and can even show you where we were in March of 2009.
What I cannot say with these uncertain times, where we are going, so will use History as a guide.
I will also include the research below, 'Think This is a Housing Crisis? Think Again', which came from a Real Estate Research company that helps me stay current with the Real Estate Market. You will find this an interesting read.

March was a bright spot with sales up from the previous year, but these sales were generated from pending contracts in January and February before the Covid-19 event started to take effect. 

A look past to maybe see the future;

One line below talks about Absorption Rate, the number of months it takes at the current average sales rate to sell all the homes on the market. The Experts in the Real Estate field feel a 6-7 month supply makes a healthy market, any more, we are in a buyers market, any less we are in a sellers market and to few means we have pent up demand from those that cannot find a home to purchase.

Here is some history going back to March of 2009 compared the the end of March this year, 2020.

   March 2009  Today- March 2020
Absorption Rate 12.03 Months   3.22 Months 
Homes Sold in March 67   119
Active Homes on the Market, End of March 891   443
Pending Homes that came to the Market in March 67   49
FreddieMac Monthly Average 30 year Fixed, with .7 pts 5.00%   3.45%
       
  March 1 to April 13 2019   March 1 to April 13 2020
Number of Showings in Flagstaff 1879   1427
  Decrease in Showings of  -24.05%
       
  2019 2020
A Weekly Average of showings starting Jan 12 +35% increase in Showings -45% decrease in showings

Here is what the above is showing us;

  • Home Sales for the month of March 2020 were up 77% over 2009
  • Active homes on the market today are down 50%
  • Pending contracts in March 2020 were down 27%
  • Interests rates today are down approximately 1.55%
  • Both Statewide and in Flagstaff, a % of those wanting to purchase have stepped aside for the time being.

When we compare 2020 to 2009, we are selling far more homes, we have far fewer homes on the market and interest rates are far below 2009.
Showings are down both in Flagstaff and Statewide, Buyers are certainly holding back waiting to see what happens. When the time comes, those that were waiting will jump back into the market and in numbers.

Today and the past recession are two different animals,
We have far fewer homes on the market, interest rates are well below the 2009 rates, and demand for homes thru February has been exceptionally strong which was Caused by both low interest rates, low inventory of available homes and pent up demand. The article below lays out a good case that housing will be the leader in bringing back the economy.

With all of the unanswered questions caused by COVID-19 and the economic slowdown we’re experiencing across the country today, many are asking if the housing market is in trouble. For those who remember 2008, it's logical to ask that question.

Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis that has caused a pause in much of the economy and a major shutdown of many parts of the country.

Let’s look at five things we know about today’s housing market that were different in 2008.

1. Appreciation

When we look at appreciation in the visual below, there’s a big difference between the 6 years prior to the housing crash and the most recent 6-year period of time. Leading up to the crash, we had much higher appreciation in this country than we see today. In fact, the highest level of appreciation most recently is below the lowest level we saw leading up to the crash. Prices have been rising lately, but not at the rate they were climbing back when we had runaway appreciation.Think This Is a Housing Crisis? Think Again. | MyKCM

 

2. Mortgage Credit

The Mortgage Credit Availability Index is a monthly measure by the Mortgage Bankers Association that gauges the level of difficulty to secure a loan. The higher the index, the easier it is to get a loan; the lower the index, the harder. Today we’re nowhere near the levels seen before the housing crash when it was very easy to get approved for a mortgage. After the crash, however, lending standards tightened and have remained that way leading up to today.Think This Is a Housing Crisis? Think Again. | MyKCM

3. Number of Homes for Sale

One of the causes of the housing crash in 2008 was an oversupply of homes for sale. Today, as shown in the next image, we see a much different picture. We don’t have enough homes on the market for the number of people who want to buy them. Across the country, we have less than 6 months of inventory, an undersupply of homes available for buyers.Think This Is a Housing Crisis? Think Again. | MyKCM

4. Use of Home Equity

The chart below shows the difference in how people are accessing the equity in their homes today as compared to 2008. In 2008, consumers were harvesting equity from their homes (through cash-out refinances) and using it to finance their lifestyles. Today, consumers are treating the equity in their homes much more cautiously.Think This Is a Housing Crisis? Think Again. | MyKCM

5. Home Equity Today

Today, 53.8% of homes across the country have at least 50% equity. In 2008, homeowners walked away when they owed more than what their homes were worth. With the equity homeowners have now, they’re much less likely to walk away from

their homes.

Think This Is a Housing Crisis? Think Again. | MyKCM

Bottom Line

The COVID-19 crisis is causing different challenges across the country than the ones we faced in 2008. Back then, we had a housing crisis; today, we face a health crisis. What we know now is that housing is in a much stronger position today than it was in 2008. It is no longer the center of the economic slowdown. Rather, it could be just what helps pull us out of the downturn.

 

About the Author:

Jeff Ross
Realty Executives of Flagstaff
Phone: 928-773-9300
Direct: 928-225-3511
Mobile: 928-607-5556
Email: JEFF@ALLFLAGSTAFFHOMES.COM
Website: www.AllFlagstaffHomes.com

A Short Positive Real Estate Briefing

(Published on - 3/27/2020 1:18:41 AM)

Gosh,

There is so much going on in our lives today, and most has been surrounded by the Covid-19 issue.
Here in Flagstaff it is Spring Break week and so many of us have had this weeks or future plans jeopardized.

I will keep this month's Real Estate briefing very short, the important thing is for you and your family to be safe. Listen and heed the health advisories coming out of the Centers of Disease Control and Prevention (CDC) or Coconino Country covid-19 site and take the precautions they recommend.
Use good judgement, be safe and be careful of the media hype.

Before heading to an update on our Real Estate market here in Flagstaff,
I had the opportunity to visit with the owner of Mammoth Restoration, Craig Moody, a locally owned and operated residential and commercial restoration business right here in Flagstaff.
I asked Craig and his Market Manager Amanda to come up with tips I could send out this month. 
See the immediately following the Real Estate update.

To Real Estate:

February was a good month in Flagstaff, we sold 45.5% more homes than the prior year, and 8.7% more homes came to the market.
Our inventory is still extremely short, hovering around 3.1 month's supply on-hand, where the experts if the Real Estate field feel 6 month's is a good number to reach. We still are in an extreme housing shortage.

 

The housing market is staying extremely strong, driven by two main things, lack of available homes on the market  and the incredible mortgage rates that our out there.
Depending on your current mortgage rate, this may be prime time to refinance. Here in Flagstaff, if you would like some suggestions on Great Local lenders,  give me a shout, that I can help with.
For the first two months of the year, we have sold 58.8% more homes, -1.8% fewer homes have come to the market.
Our median prices are hovering at a 7% increase over the prior year.


Again, be safe and Please never hesitate to reach out with questions.


Are There Enough Homes For Our Buyers?

(Published on - 2/20/2020 5:47:57 PM)

So, What is Happening in the Flagstaff Market?

It is early in the New Year to talk about any trends, especially when trying to get a gauge on home pricing, but we can talk about the Housing Inventory.
All last year, we talked about the lack of available homes to purchase, the experts in the Real Estate field felt that trend will continue through 2020.

But how is Flagstaff doing?

Overall we had more homes sales in January, then came to the market.
Thus depleting our Inventory Level lower than they already were.

For the month of January we had 31% more homes come to the market, or 126 homes, compared to 96 the year before.

Total number of home sales started off extremely strong in January, up 79% with 93 homes closing compared to 52 the year before.

 

Broken down;
Single Family homes
                   -8% decrease in the numbers coming to the market or 69 this year, compared
                    to 75 last year.
                    121% more home sales, 64 this year, compared to 29 last year.

Condominiums
                    114% increase in homes coming to the market, 10 this year, 
                    compared to 3 last year. 
                    43% more home sales, 10 this year, compared to 7 last year.
Townhomes
                    220% increase in homes coming to the market, 32 this year,
                    compared to 10 last year. 
                    67% more home sales, 15 this year, compared to 9 last year.

Manufactured Homes
                   150% increase in homes coming to the market, 10 this year,
                    compared to 4 last year. 
                    43% fewer homes sales, 4 this year, compared to 7 last year.

 

Looking at the Home Sales for January, normally if we see an increase or decrease in sales, we will see a corresponding change, increase or decrease, the month before in homes coming to the market.


I looked back at November and December 2019, those 2 months for all categories of homes in Flagstaff, we had only 2 additional homes come to the market over the prior year, 4 more in November, 2 less in December.

The chart at the left are figures nationwide, showing this is not just a Flagstaff trend.


A combination of better weather and better interest rates definitely helped the Real Estate Market and severely depleted our housing inventory.So, what happened, since the number of homes were not there in the prior months to support a 79% increase in homes sales in January?

When looking at the general Flagstaff area, for all home types, we had 17.2% fewer homes on the market at the end of January this year than last. 
We are also sitting at a 2.89 month’s supply on-hand, which could be the lowest we have seen for quite some time, compared to last year 3.53 month’s supply.
The Experts in Real Estate say 6 months is a good even number to strive for, any less, we are in a seller’s market, any higher in a buyer’s market.

If you are a Buyer:
All is not lost, just reaction times are shorter.

Inventory is tight and you do not want to make the error of reacting too fast. On the other side of that coin you cannot wait a few days to look at the home you have an interest in. 

Once you have a good idea of what you want in a home and find that home, reaction time will be key to the success of getting an accepted offer.
Before making that offer, we will do the  research to make sure the asking price and your offer price are similar to other comparable homes sold in the same neighborhood.

If you are a Seller;
Timing is good, maybe the best we have seen for years.
Number of homes on the market are at a level we have not seen for years, interest rates for buyers are low and expected to stay close to our current levels for the remainder of the year.
At one time, we said the key selling season was Spring, Summer and early Fall, but not today!

This is one of the strongest selling markets we have seen in quite some time... 

With all this said,

A combination of low inventory and low interest rates may make for an interesting 2020, something we will keep a close eye on as we move through the year.

About the Author:

 

Jeff Ross
Realty Executives of Flagstaff
Phone: 928-773-9300
Direct: 928-225-3511
Mobile: 928-607-5556
Email: JEFF@ALLFLAGSTAFFHOMES.COM
Website: www.AllFlagstaffHomes.com

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