Realty Executives of Northern Arizona
Flagstaff Community Toys for Tots
In 1995, a small band of former active duty Marines in Flagstaff under the direction of Mr. Hal Jensen, organized a Marine Corps League detachment with the primary purpose of developing a local Marine Toys for Tots program specifically for children in need in our community. Little did they know that in a few years the local program they organized would grow to the size that it is today.
Today, Flagstaff Marine Toys for Tots is one of more than 800 units nationwide. It is supported locally by the Marine Corps League-San Francisco Peaks Detachment and Marine League Charities of Flagstaff and the generous support of local businesses and individuals and an army of volunteers. The Flagstaff Toys for Tots mission is clear . . . to collect, purchase and distribute toys to children in need in Northern Arizona during the holiday season.
One hundred percent of funds received are used to accumulate, purchase and distribute toys per the requirements of the national Toys for Tots Foundation.
Marine Toys for Tots Foundation, an IRS recognized 501(c)(3) not-for-profit public charity is the fundraising, funding and support organization for the U. S. Marine Corps Reserve Toys for Tots Program. The Foundation was created at the behest of the U. S. Marine Corps and provides support in accordance with a Memorandum of Understanding with the Commander, Marine Forces Reserve, who directs the U. S. Marine Corps Reserve Toys for Tots Program. The Foundation has supported Toys for Tots since 1991. At least 97% of funds received nationwide go to purchasing toys for children in need.
The Local Impact (Flagstaff, AZ during 2018):
21,613 Toys Distributed
10, 620 Children Supported
It’s that time of year again, and those familiar Toys for Tots collection boxes are starting to appear in offices and stores all over town! For the 2019 holiday season, this all-volunteer organization expects to distribute toys to over 10,000 deserving local boys and girls. Many of these toys will be collected in local drop boxes, so every donation of a new, unwrapped toy is greatly appreciated. But what few people realize is that almost 85% of all toys distributed in Northern Arizona are actually purchased rather than donated. That’s why cash donations are so important, as well. And 98% of all cash contributions go directly to purchasing toys for kids. You may soon be spying Toys for Tots donation jars on counters at mini-marts and other businesses around town, as well. Those few coins that you drop in really add up!
Yes! The San Francisco Volcanic Field covers 1,800 square miles around Flagstaff, with over 600 volcanoes! The tallest of these, Humphreys Peak, looks out over the ruins of an ancient Native American pueblo in Wupatki National Monument. Around 1064 A.D., these ancient people must have been witness to the eruption of the youngest volcano, Sunset Crater. Some speculate that the eruptions are what drove the Sinugaua people out. Almost all of the hills and mountains between Flagstaff and the Grand Canyon are extinct volcanoes. The first of these volcanoes began to erupt 6 million years ago. U.S. Geological Survey scientists believe that there will be another eruption in Flagstaff’s future—but not for quite a while. So stay a while!
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Ever been inside a volcano? Red Mountain is a 1,000 foot high volcanic cinder cone that you can walk into! It is cut out in the shape of an amphitheater and is filled with hoodoos (tall columns of eroded cinders, ash, and lava). The U.S. Geological Survey and local scientists agree Red Mountain was formed in eruptions about 740,000 years ago. It is an easy hike off of US 180, 31 miles north of Flagstaff.
One of the side effects of volcanic activity are lava tubes. These are formed by molten lava flowing through a volcanic vent and hardening over time. There are a few areas around the Flagstaff area where these occur in small pockets. However, Lava River Cave, just a few miles from downtown Flagstaff, is a lava tube cave that is open to the public. It was formed 700,000 years ago and is approximately .75 miles long, and the longest cave of its kind in Arizona!
Want to go caving?
About earthquakes…
Arizona has active faults that run through the state. The Northern Arizona Seismic Belt runs from Flagstaff to Utah, and comprises dozens of active faults. Scientists say that the Lake Mary Fault (just south of Flagstaff) could produce an earthquake up to a magnitude of 7. However, most quakes that occur in the area are not felt, and no damage is reported. Will the earth move for You in Flagstaff?
Your 3rd Quarter Flagstaff Housing Update
This will be an update through the first three quarters of the year and for the most part for the general Flagstaff area. As a quick snap-shot, Flagstaff Homes Sales for all types of homes are slightly off, with 6.4% fewer homes sold. On the Positive side, the Median Price of homes sold so far this year is up 6.0% to $389,000. We did have fewer homes come to the market this year, but only slightly at a 1.7% decrease. Days on Market has dropped slightly to 102 days, down from 108 days.
Broken down just a little, Single family homes sales are down 2.1%, but with the highest percent price increase of 8.2% gain and Median price of $435,000. These are followed by Condos, which have a price increase of 1.9% to a Median Price of $215,000, then Manufactured homes with a Median Price gain of 1.7% to $245,000. The only category of homes that have decreased in price this year to date were townhomes with a 3.7% decrease to a Median price of $337,000. I will come back with a reason on this shortly.
We are seeing an uptick in activity over the last 30 days with the improvement of lower mortgage rates. We are seeing this on both sides of the equation. Sellers are seeing an opportunity to sell and either upsize or downsize, and buyers are seeing their dollars being stretched upwards with lower interest rates, meaning more home for the same monthly payment. We said a couple years ago we may never see as low of rates, but it appears that the ‘Never’ may have been misspoken. Time will tell.
Fewer homes have come to the market this year, but by a very slim margin, 1.7%, which is only 29 homes. We will see if this next quarter that number is erased and moves into the positive. If so, this will bode well for buyers and even for sellers, since new buyers will see that inventories are rising and may jump into the growing buyer pool, thus snapping up any additional inventory of homes that come to the market.
I said I would touch on Townhomes and the decrease in price. All but a few of our Townhome projects have been built out. We have a few going in in assorted areas, but that is it. Those new construction that are coming to the market, are coming well above our current median price, just not a lot of them. As I write this, out of the 42 townhomes actively listed in the general Flagstaff area, only 18 are available to move into, the remaining are in assorted stages of construction.
About the Author:
| Jeff Ross |
| REALTOR® Realty Executives of Flagstaff |
| mobile: (928) 225-3511 |
| email: jeff@allflagstaffhomes.com |
| website: www.allflagstaffhomes.com |
| 15 E Cherry Ave |
| Flagstaff, AZ 86001 |
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Welcome to Flagstaff! Its location is one of its best features, as it sits at 7,000 feet and has four distinct seasons. Here are a few fun facts:
Location -- It is gateway to the San Francisco Peaks, home of Arizona Snowbowl ski resort. It is also only 80 miles from the Grand Canyon, and hosts over 50 miles of urban trails (FUTS), as well as trails throughout national forest land. Including the Beale Trail…did you know Edward Beale used camels to help establish a trade route from Arkansas to California in 1857? Flagstaff is also home to the longest intact stretch of America’s Mother Road, Route 66!
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Nature and Space – Packed with trails and forests, Flagstaff is parked right smack in the middle of the largest Ponderosa pine forest in the world…and this tree is famous for its vanilla/butterscotch aroma in the summer months. Go ahead, find one and give it a sniff! And the Lowell Observatory is one of America’s first major astronomical research facilities (built in 1894); Pluto was discovered by scientists there in 1930! Also, in 2001 Flagstaff became the World’s First “International Dark Sky City.” (This designation is given to cities with exceptional commitment to dark sky preservation through quality outdoor lighting.) Like rocks? With its close proximity to the Grand Canyon, you can find many layers of rock history in the area…including fossils in the rocks that were used to build the Ice House on Birch Avenue!
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To Do -- Flagstaff boasts a variety of pet friendly hotels, restaurants, and shops. Bring your furry family member to one of any number festivals and events throughout the year. Too many to name, the short list includes First Friday Art Walk, Movies in the Square, the local Farmer’s Market, Pickin’ in the Pines, Blues and Brews, the Overland Expo, and the Urban Flea Market. There is something for everyone, whether your interests be art, music, history, food, breweries, camping, biking, skiing, star gazing, geology, or just a good time! Check out Flagstaff's calendar of events here.
Looking at the median price over a full year, our peak was in 2006. That year, our median Single-Family home prices rose to $384,000. That year we sold 778 homes and had 1681 new listings come to the market.
After getting asked numerous times how our home pricing is today, compared to the peak before the recession,
Now to clarify things just a little, we are looking in the general Flagstaff area, 86001, 86004, 86005, and only at Single Family homes in that area.
Fast forward 12 years to 2018, our median single-family home prices rose to $405,750 or a 5.7% gain over those 12 years. We sold 952 homes in 2018 and 1297 homes came to the market.
So there you have it, we are up 5.7% over our high point back in the pre-recession era.
But hold the phone, what about inflation over those 12 years?
This goes well outside my expertise, so I reached out to Emy Tice, a Certified Financial Planner with WT Wealth Management here in town.
According to Emy, the average annual inflation for that twelve-year period was 1.86% per year. If the housing prices in 2006 had increased at this inflation rate the median house price today should be 384,000*(1+.0186)^12 = $479,044.
The compounding annual rate of increase for home prices was actually only .46% per year based on the median home prices in 2006 and 2018, from the Yearly Market Comparison Reports out of the MLS.
This, of course, is due to the decline in prices during the market downturn and recession.
We had deflation in 2009, but for the most part we had increasing prices (inflation) throughout the recession. Prices of consumer goods kept increasing (except in 2009) while home prices were declining. With this said, our median Single-Family Home price has increased since 2006, but not at the rate of the overall average inflation.
Meaning, if Flagstaff housing inflation matched the average annual inflation rate over this past 12 years, we are right at 18% under the value of what a Single-Family Home price would be today.
Hope that helps in understanding our Single-Family home price over the past 12 years.
As questions come up, please never hesitate to reach out.
About the Author:
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Where the Experts are - Serving Flagstaff and Northern Arizona since 1977
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