Archive for the 'Real Estate News' Category
Prescott Home Sales and Prices by Neighborhood
February 4th, 2010 categories: Home Buyers, Home Sellers, Prescott Market Statistics, Real Estate News
|
Prices and sales by Neighborhood |
Number of homes for sale | Number of homes pended | Average List Price |
Average Sales Price |
|---|---|---|---|---|
| Timberridge | 13 | 1 | $364,626 | $318,085 |
| Hidden Valley Ranch | 18 | 0 | $387,400 | $332,337 |
| Kingswood | 4 | 1 | $502,124 | $387,000 |
| Forest Trails | 15 | 0 | $590,133 | $456,900 |
| Eagle Ridge | 3 | 1 | $377,666 | $311,277 |
| Longview Estates & Fairfield Estates | 10 | 0 | $414,770 | $431,250 |
| Vista Del Cerro Estates | 3 | 0 | $507,633 | $644,500 |
| Hassayampa Village | 23 | 1 | $1,117,047 | $797,818 |
| Southview | 10 | 0 | $807,790 | $531,333 |
| Pinon Oaks | 16 | 0 | $372,946 | $324,823 |
| Mountain Club | 9 | 0 | $246,922 | $211,900 |
Real Estate numbers are local. It’s nice to know what’s going on nationwide, but most home owners want to know what’s going on in their neighborhood. These numbers are for the Month of January and as you can see, January was a slow month for sale pendings. The average sale prices were calculated over the past six months, average list price is calculated by the current number of active listings. If you would like to see the statistics for your neighborhood and it’s not on this list, please let me know and I will post the numbers.
Interest rates remain at historic lows making this a great time to buy or sell. If you have any questions about market conditions, please call us at 928.778.4492 or contact us by e-mail at info@thehuffmangroup.com
Thanks and have a great day.
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Prescott Real Estate Market Update
January 20th, 2010 categories: Market Update, Prescott Market Statistics, Real Estate News
The chart below is the absorption rate for site built, single family homes in the City of Prescott. Absorption rates are a calculation of how long it will take for all of the homes on market to be sold, or absorbed, at the current rate of sales.
The data used came from the Prescott MLS and is deemed reliable, but not guaranteed.
| Price Range | Residential Properties On The Market | Closed Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| $300,000 and below | 253 | 34 | 7.4 Months |
| $300,001 to $500,000 | 251 | 16 | 15 Months |
| $500,001 to $800,000 | 135 | 10 | 13 Months |
| $800,001 to $100,000,000 | 96 | 1 | 96 Months |
| $100,000,001 and above | 46 | 0 | 46 Months |
| Totals | 781 | 61 | 12.8 Months |
The absorption rate has gone up slightly over the past few months, meaning it may take a little longer to sell a home. The listing inventory continues to shrink giving buyers fewer choices, yet homes that are over prices continue to be overlooked. There are smart buyers out there.
For those who still wish to take advantage of the home buyer tax credit, you must have an accepted, binding contract by April 30, 2010, and must close escrow by July 1, 2010.
Call us with any questions, we welcome your comments. Have a great day.
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The Right Asking Price Makes All The Difference
January 19th, 2010 categories: Home Sellers, Real Estate News
This Real Estate market is for serious sellers only. I talk with a lot of home sellers. Some are thinking about selling, some have their home on the market right now. Most conversations with home sellers are similar, and the conversation usually ends by discussing price.
There are several ways to determine the value of a property; appraisal, tax accessor, replacement cost, comparable sales and so on. But if you are trying to sell your home and need to sell, there is only one opinion that determines market value and that is the opinion of buyers.
Todays market value is determined by the expectations of buyers. Todays buyers are educated as to market conditions and they do their homework before ever contacting a Realtor. They understand price per square foot, average selling price and are not willing to pay inflated prices.
If your home is on the market and you are not getting many showings, or if you don’t have an offer after 60 days on the market, the buyers are telling you something. Your home is overpriced.
A Real Estate Agent that knows the market conditions will be able to help guide home sellers to the correct listing price and ultimately a successful sale.
If you would like to discuss market conditions and the value of your home, call our office at 928.778.4492. We will be happy to provide you with a no obligation market analysis.
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Prescott Real Estate - Creekside at Prescott Lakes
December 9th, 2009 categories: Prescott Neighborhoods, Real Estate News
This beautiful Prescott Lakes property shows like a model home and is priced to sell. Located in the gated community of Creekside, this home features 3 bedrooms, 3 baths, 1,964 sq. ft., a spacious great room, covered patio with views and low maintenance landscaping. This home is wired for security, surround sound and plumbed for central vacuum. At close of escrow, the Seller will pay one year of athletic club dues for the new owner. Call Sherry Huffman or Sue Brown for more information at 928. 778.4492. Take a Virtual Tour today.
1230 Pebble Springs
Prescott MLS # 941801
Offered at $319,900
Take the Virtual Tour
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Prescott Real Estate- The Cottages At Prescott Lakes
July 23rd, 2009 categories: Home Buyers, Prescott Neighborhoods, Real Estate News
The Cottages At Prescott Lakes is a beautiful, gated community of single level, cottage style homes. Many of these homes offer breath taking views of Granite Mountain, Granite Dells and the San Francisco Peaks.
1378 Kwana Court is a beautiful, low maintenance home and was built on one of the best view lots in The Cottages. The private patio offers panoramic views of Granite Dells, Granite Mountain and the San Francisco Peaks. The interior is bright and open. This home features a great room with a fireplace and a formal living room. The two car garage features lots of built in storage cabinets. 1378 Kwana Court is offered at $272,900. MLS# 936861
Take a Virtual Tour today.
Set within Arizona’s gorgeous high country, Prescott Lakes offers a variety of outdoor pleasures. Within its borders, you’ll find miles of hiking and biking trails, and seven petroglyph parks. Each park preserves the Native American symbols found on rock formations along the golf course. A remarkable find, these petroglyphs are now a part of the identity of the course.
If your passion is for water sports, visit Watson Lake and Willow Lake, both located within one mile of our borders. You’re welcome to fish, sail, or go swimming in these year-round recreational lakes.
For more information on 1378 Kwana Court, please contact The Sherry Huffman Group at 928.533.1833 or e-mail us at info@thehuffmangroup.com
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Prescott Real Estate- Cloudstone Patio Homes
July 16th, 2009 categories: Cloudstone Patio Homes, Home Buyers, Real Estate News
Cloudstone Patio Homes is Prescott’s premier patio home subdivision. If you a looking for a low maintenance home with million dollar views, look no further. We are proud to offer quality built, efficient homes at affordable prices.
Cloudstone Patio Homes offers lot / home packages with several single level floor plans to chose from. Visit our model home located at 1606 Cool Breezes.
1606 Cool Breezes
Home features include 1,942 sq. ft., 3 bedroo
ms, 2 baths, great room, granite counter tops, tile flooring and gorgeous panoramic views for Granite Mountain, Thumb Butte, Granite Dells and the San Francisco Peaks.
Offered at $289,900
MLS#935678
Take a Virtual Tour of 1606 Cool Breezes
For more information on Cloudstone Patio Homes, contact Sherry Huffman at 928.533.1833 or visit www.cloudstonepatiohomes.com
Models homes open daily.
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Calling St. Joseph
June 18th, 2009 categories: Beyond Real Estate, Real Estate News
Over the years, home sellers have tried every concieveable practice out there in an effort to sell their home faster. Meditations, home selling dances, burning sage, clearing spirits from the house and of course, calling upon every Realtor’s favorite Patron Saint, St. Joseph.
St. Joseph was the earthly father of Jesus and husband of Mary, another favorite Saint of mine. Joseph is the patron saint of workers, carpenters and families. It has been a long tradition of all faiths that burying a statue of St. Joseph in your yard, or a potted plant if you don’t have a yard, will help your home sell faster.
Calling upon St. Joseph to help you sell your home is simple and the kits are readily available on many web sites and in stores. Simply bury the statue in your yard 6 to 12 inches deep, upside down facing the house, the location may vary as long as you can find the statue when the home sells. The final step is saying a prayer to St. Joseph. Step by step instruction are included with the statue.
I believe the true power of burying the St. Joseph statues lies in your faith that your home is going to sell quicker with his help.
Having St. Joseph on your team is a great start, but one other thing that will really make a difference is pricing your home competitively and hiring an experienced Realtor.
Make necessary repairs before putting your home on the market and make sure your home is in saleable condition.
If you would like to discuss market conditions or if you have questions about selling your home, please call us at 928.778.4492.
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Cloudstone Patio Homes Phase B
June 15th, 2009 categories: Cloudstone Patio Homes, Home Buyers, Real Estate News
Cloudstone Patio Homes is nearing completion on the first patio home in Phase B.
The estimated completion date for 
1606 Cool Breezes Lane is June 20th.
This 3 bedroom, 2 bath home features some of the best views in Prescott! Other features include granite counter tops, 9′ ceilings, a spacious great-room with a fireplace, cultured stone accents on the exterior, designer doors, carpet and tile flooring, front and rear landscaping, block wall and wrought iron fencing, covered front porch and covered back patio, two car attached garage and a $5,000 credit toward buyers closing costs.
This home is offered at $299,900 and comes with a two year contractor warranty.
MLS# 935678
Take a Virtual Tour of the Cloudstone Neighborhood.
Views of Granite Mountain from the rear patio.
If you would like more information on the Cloudstone Patio Home subdivision, please contact Sherry Huffman or Sue Brown at 928.778.4492 or 928.533.1833. For more information on Cloudstone Patio Homes, visit www.cloudstonepatiohomes.com
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Prescott Real Estate market update, June 12th, 2009
June 12th, 2009 categories: Prescott Market Statistics, Real Estate News
Below is the monthly update for the Prescott Real Estate Market.
Absorption rates are a calculation of how long it will take for all the homes on the market to be sold, or absorbed at the current rate of sales.
| Price Range | Residential Properties On The Market | Closed Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| $300,000 and below | 231 | 31 | 7.45 Months |
| $300,001 to $500,000 | 334 | 14 | 23.8 Months |
| $500,001 to $800,000 | 213 | 4 | 34.8 Months |
| $800,001 to $100,000,000 | 69 | 2 | 53.25 Months |
| $100,000,001 and above | 68 | 0 | 68 Months |
| Totals | 915 | 51 | 17 Months |
Prescott Real Estate- Year to Date Sales Information
| Property Type | Listings For Sale |
Current Pending Sales |
Closed Sales Year To Date |
|---|---|---|---|
|
Single family Residential |
931 | 131 | 218 |
| Vacant Land |
1,452 | 10 | 22 |
| Condos & Town Homes & Patio Homes |
141 | 13 | 18 |
| Multi Family Properties |
26 | 0 | 4 |
| Commercial Properties |
209 | 6 | 4 |
| Business Opportunities |
11 | 0 | 1 |
The information provided is courtesy of the Prescott Area Association of Realtor MLS. This information is deemed reliable but not guaranteed.
If you would like more information on the Prescott Real Estate market, please contact us at 928.778.4492 or e-mail us at info@thehuffmangroup.com
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Prescott Real Estate- Weekly Market Update, April 6th
April 6th, 2009 categories: Market Update, Prescott Market Statistics, Real Estate News
Hello, and welcome to the weekly Real Estate market update for the City of Prescott.
Absorption rates are a calculation of how long it will take for all the homes on the market to be sold, or absorbed at the current rate of sales. And finally, a single digit absorption rate! I haven’t seen single digit absorption rates in a long time.
Could it be that market conditions are improving? I’m thinking that they are. There are more and more positive signs out there, and investors are back taking advantage of bank owned bargains. Yes, we have a ways to go, and there will be more bank owned properties to deal with. But it’s now official; There is light at the end of the tunnel.
| Price Range | Residential Properties On The Market | Pending Sales Last Month | Absorption Rate # Of Months It Will Take To Sell |
|---|---|---|---|
| $300,000 and below | 227 | 78 | 2.9 Months |
| $300,001 to $500,000 | 326 | 31 | 10.5 Months |
| $500,001 to $800,000 | 198 | 11 | 18 Months |
| $800,001 to $100,000,000 | 69 | 4 | 24 Months |
| $100,000,001 and above | 68 | 1 | 68 Months |
| Totals | 888 | 125 | 7.10 Months |
Prescott Real Estate- Year to Date Sales Information
| Property Type | Listings For Sale |
Current Pending Sales |
Closed Sales Year To Date |
|---|---|---|---|
|
Single family Residential |
901 | 52 | 100 |
| Vacant Land |
1,432 | 11 | 26 |
| Condos & Town Homes & Patio Homes |
141 | 6 | 13 |
| Multi Family Properties |
22 | 0 | 2 |
| Commercial Properties |
200 | 5 | 3 |
| Business Opportunities |
10 | 0 | 0 |
In many markets around the country, bank owned properties make up the majority of closed escrow, some areas are as high as 50% t0 60%.
In the month of February, 50% of homes that closed escrow in Prescott were bank owned. In March, 21% of homes that closed escrow in Prescott were banked owned.
Year to date, 27% of the homes that have closed escrow have been banked owned.
The information provided is courtesy of the Prescott Area Association of Realtor MLS. This information is deemed reliable but not guaranteed.
If you would like more information on the Prescott Real Estate market, please contact us at 928.778.4492 or e-mail us at info@thehuffmangroup.com
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