Flagstaff Real Estate - News, Market Reports and Humor

It's April 2010!

Hi all!

I have not updated my blog for a very good reason.

The power of the web, and specifically the power of marketing my website, brought a constant stream of buyers throughout all of 2009.  www.TheFlagstaffWebsite.com

Without expecting it or being able to prepare for it, I was so busy I simply did not have the time, or the energy, to blog!  At the end of 2009, I was ranked as the Number Three Buyer's Agent in Flagstaff. Eileen's 2009 Sales.

 I am so grateful for all of my clients who contacted me after viewing my website.

From January 2010 to now, I have spent delicious and needed downtime in both Flagstaff, AZ and Scottsdale, AZ.  While attenting to my clients' online needs, sending out marketing and closing a few sales, I have been able to drink in the warmth of the Phoenix sun and get ready for a very busy 2010. 

I was also lucky enough to compete in the CrossFit games in San Diego, the weekend of March 27th.

Sales in Flagstaff are still strong and are posted on my website.  I will re-post here and hope to keep this site more updated throughout the year.

Flagstaff Market Report

Please call or email me with ANY questions you may have about Flagstaff, our market, and our homes.

Eileen

The 2010 Flagstaff Market Report is Here

Our Flagstaff Market Report shows sales in all of Flagstaff (except for Williams), as represented by the Northern Arizona Multiple Listing Service.

We've given you the breakdown by most popular neighborhoods and by our Golf Communities.

Click on the links within this report to see all homes for sale in these neighborhoods, and to see CMAs of homes sold in our Golf Communities!

 

Facebook - of all things - Saves the Day!

It's been very smooth sailing for my First Time Homebuyer.  We found him and his wife a great home they can afford, and from the minute we presented the offer, we have all felt - "ahhh, this is one of those that is meant to be!"  Our offer was accepted, he qualified easily for his VA Loan, inspection went well... home free!

When you think you have experienced all the glitches, a new one rears it's head. It's been almost three weeks and the VA could NOT get an appraiser to accept the assignment! Two appraisers down....

The clock is ticking. We are a bit on edge. But oh joy.  The third appraiser said yes, we can breathe again.

Day One. Day Two.  Day Three.  The appraiser does not call to make an appointment.  The VA tells the lenders that the property has been assigned. 

 

Day Four.

I used to be an appraiser and I know there are precious few qualified for VA Appraisals. I called the Lender and asked, "In an off-chance, is the Appraiser Jane Doe?"  YES!  She's the one who apparently has accepted the assignment.

Well  hush my puppies, that is my old boss.  As a Realtor I know I am not allowed to speak to appraisers about home values, but nothing stops me from asking her WHY SHE ISN'T MAKING THE APPOINTMENT!!!

Hmm. That old phone number doesn't work.  Maybe she changed her company name, I can't find anything close to her name and address in the phone book.  The phone number on the order form also doesn't work and there is no email address.  ????

My Buyers are getting close to panic.

OMG. Isn't she a Friend of mine on Facebook?  FACEBOOK?  And lo and behold, she is.  In one swift little internet move I find her profile which has her email address and contact her.  She responds right away and we soon discover there is a problem with the VA Portal. Thirteen telephone conversations and 26 emails later, Problem Solved!

While I use Facebook mostly for fun, this was a happy way that Facebook actually saved a deal and allowed my Buyers to start breathing again.  I know they are grateful for that.

Yipppeee!

Flagstaff Arizona First Quarter of 2009 - The Stats are In!

2009 First Quarter Flagstaff Real Estate Results!

FIRST QUARTER 2009 - The average price of residential sales (homes, townhomes, condos, manufactureds) was $337,000, with a total of 139 units sold in the first quarter. The average price per sf. is $174.00.  In the first quarter of 2008, 69 units sold.

Interpretation? While it is still very much a Buyer's Market in Flagstaff, and while inventory remains high, average price and sales volume are higher this quarter than the first quarter of 2008.

Even with the rise of bank-owned sales and short sales, Flagstaff prices are not dropping to the drastically lower levels experienced in Phoenix and other larger cities. This is because of Flagstaff's special qualities (altitude, location, amenities, second-home market), and because Banks price their homes as close to market value as possible and given high demand, are not motivated to drop prices, unless the home has more serious problems that make it unattractive to almost any buyer.

Personally, I am excited to report a wave of Buyer activity, mostly with first time home buyers or second home buyers looking for a Flagstaff properties at $250,000 and below.  Fabulous interest rates, lower prices, the $8,000.00 tax credit for first time homebuyers and what seems to be more confidence in the economy are prompting buyers to submit offers and close deals!

View the Flagstaff Daily Market Report at www.TheFlagstaffWebsite.com. Updated (almost) daily with easy weekly and monthly comparisons, you can be your own Flagstaff Market Expert!

And remember, when deciding on the correct sale or offer price, it is important to look at the statistics in your specific Flagstaff neighborhood, and consider every aspect of your home. For focused, personalized reports for your property, call or email Eileen.

Positive Surprises for a First Time Buyer in Flagstaff, Arizona even during tough times.

My first-time Home Buyer is the type who, within weeks of searching for her home,  knew more about the market than I did.  Each night after her two boys were in bed, she sat at her computer researching EVERYTHING about Flagstaff, Arizona properties.  She made lists of townhomes, single family homes and manufactureds.  She had plus and minus columns.  She met with her lender and found out about every first time homebuyer program.  When that lender didn't give her excellent service, she switched to one who did.

So, I love her.

We have spent months together trying to find the one, affordable home in Flagstaff that made her heart sing. Her husband said - if you like it honey, I love it.  We have wanted her to like it.  It's been tough and often disappointing.

Then we found it.  Just perfect. The one!  Great shape, wonderful loving touches.. home.

We offered, they countered, we accepted.  What an absolutely happy time!  After months of searching, many disappointing moments and exhaustion, THE ONE!

And then, the appraisal. We knew the appraisal was going to be tight, and we all believed we would have to regroup to make it work.  But in the end, I could see that the Sellers would not be able to do it.  If they sold at appraisal, we would have to go into a short sale.  We had no time.

I couldn't bear the thought of my beautiful first timer losing this house. It was one of those nights where you go to sleep with a knot in the pit of your stomach, dreading the inevitable conversation you must have in the morning.  There was no way to avoid it.  Ugh.

In the early morning I checked the MLS.  And there it was.  A BIGGER and NEWER home offered at the same price as the one that was about to slip through our fingers.  Could this be true?

Rather than call my sweet client with only bad news, I was able to say - Hey, OK, this one isn't going to work but let's see this other one today, what time can you make it?  She was so overwhelmed and confused that she just followed my lead.  In a rush to make an unexpected home viewing, she didn't truly have time to process that she just lost her dream home.

This truly is a happy ending. 

She loved it, we offered, they accepted without a counter, we are in escrow and there will be no problem with the appraisal.  This home is 400 sf bigger than the last! 

We are all shaking our heads with happy disbelief at the perfect timing of this journey.  With so much gloom and doom, hardship and negativity trying to infilitrate our lives (so it seems), it's wonderful to know first hand that there is opportunity for positive, marvellous and seemingly miraculous surprises.

 

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