Archive for December, 2008
Have you been good this year?
December 23rd, 2008 categories: Beyond Real Estate, Just For Fun
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Interest Rates At An All Time Low
December 22nd, 2008 categories: Home Buyers, Home Sellers, Real Estate News
I’ve never seen interest rates this low. Last year at this time, the 30 year fixed rate mortgage averaged 6.14%, today it is at 5.22%.
As of December 22nd, 2008, the daily rate averages are as follows:
30 year fixed - 5.22%
15 year fixed - 5.05%
7-1 ARM 6.69%
3-1 ARM 6.00%
5-1 ARM 6.06%
This is good news for consumers and the housing market. It may not have a big impact on the market today, but I believe it’s going to next year. Many home buyer’s have been on the fence waiting for prices and interest rates to hit bottom; this could be the beginning of a turn-around for Prescott’s Real Estate market.
If you have ever had a financial planner tell you “buy low, sell high”, well, 2009 is going to be the time to “buy low”.
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Prescott Real Estate- Copper Canyon Village
December 19th, 2008 categories: Featured Listings, Home Buyers, Prescott Homeowners, Prescott Neighborhoods, Real Estate News
1039 Quicksilver
Built in 2006
4 bedrooms, 2.5 baths
Panoramic mountain views
Open floor plan
Two fireplaces
Hardwood floors
2,328 Sq. Ft.
MLS# 932861
Offered at $599,900
Virtual Tour
Take in the panoramic mountain views from this gorgeous home located in the beautiful Copper Canyon Village subdivision. This newly constructed home overlooks granite boulders and mature Ponderosa Pines. The open floor plan invites you into a great room with two built-ins, a stone fireplace, gorgeous wood floors and soaring ceilings. The kitchen features state of the art stainless steel appliances and granite counter tops.
The spacious master suite features a separate sitting area, dual fireplace, wet bar and spa like bath. Other features include formal dining, jetted tub, interior fire sprinkler system, landscaped front and rear, walk-in closets, split floor plan, 2×6 construction and a private covered patio.
There is room for an RV garage; which the builder would be available to add on.
Views from 1039 Quick Silver
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Finally, snow in Prescott
December 18th, 2008 categories: Beyond Real Estate, Just For Fun, Prescott Homeowners
Let it snow!
It’s snowing in Prescott, finally.
I took this picture from my back door this morning before leaving the house.
Snow storms in Prescott are fun because there’s not too much work involved with them. We don’t have to dig our cars out from a huge drift, we’re not trapped at home and things don’t stay frozen until March. It’s just enough to enjoy and take in the beauty of it all.
Don’t get me wrong, we have had a few storms where we had to break out the snow shovels, but not too many in recent years. We always hope for a white Christmas, but a white week before Christmas will do.
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Prescott Real Estate- Weekly Market Update December 17th, 2008
December 17th, 2008 categories: Home Buyers, Home Sellers, Market Update, Real Estate News
If there’s room in the sleigh, a stable Real Estate market would be greatly appreciated!
Below is the weekly market update for the Prescott area.
The number of single family homes on the market has continued declining over the past month which is always a good sign. Seven single family residential properties closed escrow since last week as well.
Compare last week’s Prescott Real Estate market update.
| Property Type | Listings For Sale |
Pending Sales | Sales Year To Date |
|---|---|---|---|
| Single family Residential |
963 | 51 | 606 |
| Vacant Land |
1,450 | 7 | 113 |
| Condos & Town Homes & Patio Homes |
126 | 14 | 78 |
| Multi Family Properties |
22 | 0 | 4 |
| Commercial Properties |
198 | 4 | 33 |
| Business Opportunities |
15 | 0 | 6 |
The information provided is courtesy of the Prescott Area Association of Realtor MLS. This information is deemed reliable but not guaranteed.
| Discussion: 2 Comments »
Rain or Snow?
December 16th, 2008 categories: Beyond Real Estate, Home Buyers, Home Sellers
It was supposed to snow!
The Weather Channel forecast that Prescott would receive 5 to 8 inches of snow Monday night, 2 more by Tuesday morning. I was really excited about driving to Watson Lake this morning and taking some photos of the snow capped Granite Dells… All I got was some low clouds and light rain.
I’m not complaining about any form of precipitation, we need all we can get. But to get snow anytime in December, especially near Christmas is exciting. More snow is forecast for this afternoon and evening…. Stay tuned.
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Prescott Real Estate- PRICING YOUR PRESCOTT HOME TO SELL
December 15th, 2008 categories: Home Buyers, Home Sellers, Prescott Real Estate Trends
If you are a home seller today, your competition is fierce! You’re not only competing with bank owned properties, short sales, other homes in your neighborhood but the negative news media as well. Many homes in Prescott have been on the market all year, some longer.
Does this mean that homes aren’t selling? No. Homes are selling and if you want or need to sell your home in a timely manner, putting the right price tag on the property has never been more important than it is today.
In the Prescott area, home buyers have 20 to 25 comparable properties to look in any given price range, and when making a decision on what home to write an offer on it usually comes down to one thing, price. Buyer’s are purchasing homes that offer the most and cost the least, and your home may offer the most, but if it also costs the most, it may be on the market for a long time.
Here are some thoughts on pricing your home Prescott home right!
It’s important to be ahead of the pricing curve. If your Prescott home is priced well from the beginning, the chances of your home and a qualified buyer meeting greatly increases. If your home is overpriced, qualified buyers move on to the next property and you end-up chasing the curve downwards with price reductions. In some cases, it’s too little too late, you’ve missed your prime selling opportunity and the listing becomes stale.
Study recent sales. This is the starting point for any thoughtful and successful pricing strategy. Take the time to study past sale statistics for homes in your area similar to yours.
Do not confuse active listings with closed sales. Active listings have not sold, they are just your competition.
A “buyers market” is not the time to test the waters. If the market is appreciating, this strategy may work, but in Prescott’s Real Estate as of December 15th, you may quickly find yourself chasing the market and costing yourself money.
Leave some room for negotiation, but don’t overreach. No seller wants to feel he or she left money on the table, and no buyer wants to overpay. Your price should give both parties room to maneuver, but if it is too high, the buyer may perceive it as unrealistic and move on to the next property.
Don’t make a career out of selling your home. Call us for a comprehensive, honest price evaluation of your home.
928.778.4492 or e-mail us at info@thehuffmangroup.com.
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Prescott Real Estate- Foreclosure activity drops nationwide
December 12th, 2008 categories: Market Update, Prescott Market Statistics, Prescott Real Estate Trends
The number of American homeowners dragged into the foreclosure crisis fell this past month to the lowest level since June as new laws lengthened the process.
Nationwide, more than 259,000 homes received at least one foreclosure notice in November, down 7% from October, but 28% higher from one year ago.
In October, 5.03% of homes listed for sale in Prescott were banked owned. As of today that number has gone up to 8.26%
A report was issued by RealtyTrac naming Nevada, Florida and Arizona as the nations top foreclosure rates. In Arizona one in every 198 homes is in foreclosure.
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Prescott Real Estate- Market Update Wed. December 10th
December 10th, 2008 categories: Market Update, Real Estate News
Below is the weekly market update as of 12/10/2008.
The number of single family residential properties listed for sale has dropped to 971 from 989. There were 4 additional pending sales and 5 closed sales!
Vacant land has not moved much from last week.. One additional pending and one closed escrow. I anticipate that vacant land sales will continue to be sluggish well into 2009 / 2010.
This market update will be posted every Wednesday. If you have any questions, please contact us at info@thehuffmangroup.com.
Compare last week’s Prescott Real Estate market update.
| Property Type | Listings For Sale |
Pending Sales | Sales Year To Date |
|---|---|---|---|
| Single family Residential |
971 | 55 | 599 |
| Vacant Land |
1,458 | 5 | 113 |
| Condos & Town Homes & Patio Homes |
127 | 13 | 78 |
| Multi Family Properties |
23 | 0 | 4 |
| Commercial Properties |
199 | 4 | 32 |
| Business Opportunities |
15 | 0 | 6 |
The information provided is courtesy of the Prescott Area Association of Realtor MLS. This information is deemed reliable but not guaranteed.
| Discussion: 1 Comment »
Prescott Real Estate- Talking Rock Ranch
December 9th, 2008 categories: Featured Listings, Home Buyers, Prescott Neighborhoods, Real Estate News
Talking Rock Ranch is a beautiful, master planned golf community located 20 minutes north of Prescott, offering some of the most breath taking views our area has to offer. Situated on 3,400 acres, Talking Rock Ranch offers a casual western lifestyle and all of the amenities of an exclusive country club. Over 1,000 acres has been dedicated to opens space preserving the natural beauty of the area.
Affordable Prices and excellent values… Prices at Talking Ranch have come down significantly this past year, making this luxury subdivision more affordable than ever. If you are considering vacant land as an investment or plan on building in the future, there’s no better time to buy than right now. 
Price Reductions!
This one acre parcel is currently listed for sale at $114,000. Panoramic views, a level building envelope and utilities already installed make this property an excellent value.
Click on the link to see the virtual tour of this property located at 15030 Four Mile Creek.
For more information on this property or any property at Talking Rock Ranch, contact the Huffman Group at 928.778.4492 or e-mail us at info@thehuffmangroup.com
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