If you’re like most people, your home is your most important investment. On the one hand, it’s a financial asset (and hopefully a growing one!) But, on the other hand, it plays a huge role in your overall lifestyle.

So, ideally, your home should be right for you from both a financial and lifestyle standpoint.

Is it?

That’s a question worth answering.

In fact, I recommend that my clients review the financial and lifestyle values of their property at least once a year. It’s helpful to know what your property is worth on today’s market and it’s absolutely vital to know if your home is still supporting the lifestyle you want. (For example, is it now too big or too small for your needs?)

I can help you with that analysis.

Give me a call. I’d be happy to arrange a visit and do an “Annual Checkup.” I can give you a good idea of what your home would likely sell for on today’s market - and help you determine the degree to which your home is fitting the lifestyle you want.

Reach out to me anytime.

Wishing you many blessings,

Kim

I hope this newsletter finds you and yours healthy, happy and safe. Before I launch into our real estate market...If you are experiencing flooding, please feel free to reach out for help. 

Moving on to our market... We have seen some significant changes within the last month. Most notable is the number of closed sales. In July 2022 we had 119 closed sales. This was down 14% from June of 2022 and down 35% from July of 2021. There have been 77 closed sales as of August 23 for this month. Much of this change is due to low inventory. If you are thinking of selling your house, there is no better time than now. 

Another interesting change is the percent of closed sales above the list price of the home. This percentage is now around 67% when at the height of the market we were seeing close to 80% of sales above the asking price. What does this mean? It means that both sellers and buyers can look forward to a more stable market. Sellers will find pricing to be competitive and, at the right price, there are still multiple offers. Buyers will have the opportunity weigh their options and to make solid offers. Interest rates are fluctuating but are on the lower end from an historical perspective. 

Even with these slight shifts, it is still a sellers’ market but buyers shouldn’t be discouraged. Housing prices are ever increasing and there is no better investment than real estate.

Having a Realtor on your side is very important in this ever-changing market. I can provide expert guidance whether you are buying or selling. If you would like a market analysis of your home or more specific market statistics, please let me know. I am here to help you, your family and your friends.

Wishing you love and blessings,

Kim

Have you ever wondered about the "alphabet soup" after a REALTORS® signature? What do all of those designations and certifications mean to you? Well, here is a brief description.

GRI – Graduate Realtor Institute.  REALTORS® with the GRI designation have in-depth training in legal and regulatory issues, technology, professional standards, and the sales process.

SRES – Senior Real Estate Specialist. The SRES® Designation program educates REALTORS® on how to profitably and ethically serve the real estate needs of the fastest growing market in real estate, clients age 50+.

rCRMS – Residential Certified Risk Management Specialist. REALTORS® who earn this certification go the extra mile to protect their client’s interests as well as their own. They recognize that in today’s litigious society, good REALTORS® need to anticipate the pitfalls in a real estate transaction for their clients and themselves and be well prepared to avoid them

ABR – The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer agents who focus on working directly with buyer-clients at every stage of the home-buying process.

SRS - The Seller Representative Specialist (SRS) designation is the premier credential in seller representation. It is designed to elevate professional standards and enhance personal performance. The designation is awarded to real estate professionals who demonstrate the knowledge and skills essential for seller advocacy. SRS designees represent a global community of REALTORS® who use their advanced training and expertise to go above and beyond their client’s expectations. I’m currently completing this certification.

e-PRO - This certification program helps REALTORS® master the advanced digital marketing techniques of today. With the e-PRO® certification, REALTORS® increase their ability to reach customers, expand their capabilities, and build trust by safeguarding client information.

LHC - Luxury Homes Certification gives REALTORS® the knowledge they need to approach the luxury niche, including pricing strategies, negotiation tactics, and how to stand out from the crowd. I’m currently completing this certification.

I believe education is one of the keys to providing exceptional service. If you (or your friends or family) have questions, I'd be happy to help. 

Wishing you a blessed August!

Kim

I hope this newsletter finds you and your family healthy and safe. Last month the focus of the newsletter was the local real estate market. Today, while real estate is still near the top, most of the talk in Flagstaff surrounds the Tunnel Fire and the Pipeline Fire. Both fires burned tens of thousands of acres of forest and threatened homes. In the Tunnel Fire, more than two dozen homes in east Flagstaff were lost. The Pipeline fire claimed one home in the same area. Now with the monsoon season upon us, there is worry about flooding as a result of these fires as well as earlier fires. So what can you do to keep your home safe. 

First, speak with your insurance agent about your homeowner's insurance. They can provide guidance on their many programs to ensure you have the most comprehensive coverage. We found we could actually keep the same premium by decreasing certain coverage we didn't need while increasing coverage we desired. Your agent may also be able to give you information on changes to the FEMA flood maps. The best time to talk about these things are well before they may happen.

Second, sign up to receive emergency alerts on your smart phone. The alerts can range from covering the state to just a county or city. You can choose the geographical range in many cases. The emergency alerts can keep you informed of any evacuations and pertinent information. It's also a great idea to have a family emergency plan that includes a safe place to meet and what items should be collected if you happen to be evacuated. 

Finally, make your home as fire-safe and flood-safe as you can. Clear all pine needles and debris away from your home. Screen or box-in areas below patios and decks with wire mesh to prevent debris and combustible materials from accumulating. Remove flammable materials (firewood stacks, propane tanks) within 30 feet of your home’s foundation and outbuildings, including garages and sheds. If it can catch fire, don’t let it touch your house, deck or porch. Be sure rain gutters are clear and drain away from the house. Use landscaping to drain water away from the house. These are just a few ideas. 

If you have any questions, please reach out to the experts in these fields. As always, if you have any real estate questions, don't hesitate to reach out to me.

Wishing you many blessings,

Kim

How often have you opened a newspaper, or logged into your favorite news website, and seen story after story about the real estate market? It has certainly been getting a lot of coverage. Most news outlets report on national and general state news. It's good to have an idea of the big picture for real estate in Arizona but it is the local scene that impacts you most. Here is a very brief year-over-year summary for April for the Flagstaff real estate market. 

• Absorption Rate (number of months of housing inventory): 2022 - 1.58 months      2021- 1.4 months
• Average List Price: 2022 - $851,587   2021 - $680,733
• Median List Price:  2022 - $617,400   2021 - $524,900
• Average Sale Price:  2022 - $744,186   2021 - $554,883
• Median Sale Price: 2022 - $705,000   2021 - $490,000
• Average Days on the Market -  2022- 60    2021 - 61
• Median Days on the Market -   2022 - 36    2021 - 44

What does all of this mean? In a nutshell, Flagstaff is still a sellers' market. Prices have increased since April of 2021 and we are not seeing those numbers coming down. However, the early May numbers are showing a slight pause with houses staying on the market for a couple of weeks before receiving offers. This is very typical of May with graduations and end of the school year. Another interesting observation (not reflected above) is that while houses are selling for over the list price this number is now under $20,000. Earlier this year we were seeing properties selling for $50,000-100,000 over the list price with multiple offers. Great for sellers but very hard for buyers. Predictions are for a strong sellers' market as we move into the third quarter of 2022. Buyers can look forward to more properties on the market and perhaps more time to view them.

If you’re thinking of moving, give me a call. I can give you a good idea of what your property will sell for in today’s market. In addition, if you’re targeting a neighborhood you’d like to get into, I can let you know what properties are selling for in that area and the current opportunities available.

If you ever have questions about the local market, please don’t hesitate to contact me.

Blessings,

Kim