The Huffman Group


Sue

Sherry

Sarah


The Sherry Huffman Group
Sherry's Cell: 928.533.1833
Sue's Cell: 928.533.6377
Sarah's Cell: 928.899.3704


Address: Realty Executives
1955 Commerce Center Circle,
Suite C
Prescott, Arizona 86301
(928)778-4492

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Prescott Frontier Days Rodeo

Rodeo horseFrontier Days Rodeo

In 1888, when Prescott was the capital of the Arizona territory, a group of Prescott businessmen dreamed up a 4th of July cowboy contest featuring the areas best cowboys and ranchers.  The cowboys competed for small cash prizes and bragging rights at the local Whiskey Row Saloons.  This year Prescott will celebrate the 121st annual Prescott Frontier Days Rodeo, and every year the rodeo get bigger and the cowboys get better!  This is a great event that the entire family will enjoy. 
This year’s dates for the rodeo are June 30th to July 5th. 
Rodeo performances are at 7:30 PM nightly, and 1:30 PM July 4th and July 5th.


Frontier Days Events:

Frontier Days Rodeo: June 30th to July 5th.  Performances are nightly beginning at 7:30 PM.  Afternoon performances at 1:30 on July 4th and 5th.
Get your tickets in advance at RODEO TICKETS
Prescott Rodeo Grounds
840 Rodeo Drive
Prescott, Az.  86305
(928) 445-3103

The Kiwanis Kiddie Parade: July 4th at 8:30 AM at Cortez and Goodwin Street
Colorful little cowboys, cowgirls and costumed pets too!  Last year, there were 400 entrants.  Bring the family. 

The Frontier Days Parade: July 5th at 9:00 AM at the Courthouse Plaza
This year there will be more than than 200 entries including the Rodeo Royalty Court, floats, church and civic groups and High School Marching Bands.

The Prescott Frontier Days Fine Arts and Crafts show: July 4th - 6th at the Courthouse Plaza. 

The World’s Oldest Rodeo will be inducted into the Pro Rodeo Hall of Fame on July 12th, 2008.  Prescott Frontier Days has extensive history.  To learn more, click Frontier Days History

Bull Rider

Posted by Sue Brown | Discussion: No Comments »

When It Rains, It Pours

Rain Storm

When it rains in Prescott, it can really pour.  
Prescott is the only place I know of where it can rain in your front yard, but not the back.   I’ve always thought that the weather service should have two or three locations that measures Prescott rainfall totals because it can vary so dramatically from one end of town to the other.
 Currently, rainfall totals for Prescott are measured at the Prescott Airport located at  Hwy 89 and Willow Creek Road. 
If you are one of those people who are interested in rainfall totals for your neighborhood, here’s an interesting web site;  RainLog.org
You can become a member and log rainfall totals for your specific neighborhood, or simply check in and see how much rain has fallen in the Prescott area.

Posted by Sue Brown | Discussion: No Comments »

Prescott Arizona is a Buyer’s Market

The Prescott, Arizona Real Estate market is a buyers market. 
Some sellers are still having a difficult time accepting this, but it’s true.  The days of asking more than the house is worth and getting offers, are over.   Some sellers still like to tack 20% on to the list price to “see what happens“.   I don’t know how else to say it, but that strategy is nothing more than a waste of time.
In order to sell your home in this market, sellers need to be realistic and prepared to accept 20% to 25% less than what it was worth a year to two ago.

Here are some pricing and survival tips for today’s market

1. Establish a list price and then take 10% to 15% off of that.
2.  If you don’t believe your Realtor’s opinion of value, call an appraiser.
3.  Do not be offended by low offers.  It’s part of working in a buyers market, and it’s nothing personal.  In a buyers market, buyers know that this is the chance to get a great deal.  It’s human nature.
4.  If you get an offer on your home, even a low offer, consider yourself lucky.   Do not reject any offers on your home.  Come back with a reasonable counter offer.  The offer you get today may be better than the offer you get 2 months from now.  Take them all seriously.
5.  If your home is not getting any showings, it’s the price.  If your home is getting showings and no offers, it’s the price.   Home buyers are educated consumers and they know value.  If your home is perceived to be over priced by buyers, they just move on to the next property.
6.  This market is what it is, and sellers need to accept that.   If you need or want to sell, price your home accordingly.  You may end up getting a little less than you had hoped, but at least you’re moving on with your future plans.

Posted by Sue Brown | Discussion: 1 Comment »

Foreclosure Crisis: Do Not Leave Your Pets Behind

Ruby the Cow Dog
As more and more homeowners face foreclosure, many pets are becoming victims of the housing crisis as well.  Across the nation, dogs and cats are arriving at shelters in record numbers as their owners move to rentals that do not accept pets, or relatives that do not welcome pets.  In some cases, people are leaving animals behind in homes they are abandoning.

No one likes to think of leaving their pet in a shelter, but it’s far more humane than merely abandoning them.  If keeping your pet is absolutely not an option, plan ahead.  Find a “no kill” shelter that will foster your pet until a new home is found. 

Click on the links below for information on pet adoption agencies in the Prescott area.
United Animal Friends  
Miss Kitty’s Cat House
Yavapai Humane Society

Abandoning your pet should NEVER be an option.

Posted by Sue Brown | Discussion: No Comments »

Protecting Your Prescott Home From Wildfires

 With summer lightning storms and high temperatures quickly approaching, it’s important to be sure your home has adequate defensible space in case of a wildfire.  
Countless wildfires and forest fires happen every year in the United States, with peak season running from April through October. Annually, wildfires claim hundreds of thousands of acres, resulting in the evacuation of millions of people. Thousands of homes go up in flames, causing damage estimated in the billions.
Forest fire
Wildfire will find the weakest link in the defence measures you have taken on your property.  The primary determinants of a home’s ability to survive a wildfire are its roofing materials and the quality of the defensible space around it.  Every small step you take will make a difference and determine whether or not your home will survive a wild fire.

Here are some steps to take to create defensible space around your home:
1. Remove excess vegetation, thin trees and shrubs within the defensible space.
2. Be sure your roof and gutters are clean from leaves and pine needles.
3. Trim branches that hang over the roof.  Be sure all branches are clear of the  chimney.
4. Chimney screen must be in good condition.
5. Grass and weeds must me kept mowed to a low height.
6. Attach garden hoses to all of your outdoor hose bids.
7. Wood should be piled away from the house, out of the defensible space.
8. Remove all leaves, grass and debris from underneath trees to prevent the fire from spreading to the tops of trees.
9. Replace large shrubs with smaller shrubbery or succulents.
10. If your roof is not made of fire retardant materials, consider replacing it with one that is.

For more information on creating defensible space, click here: defensible space 

We have been very fortunate in Prescott in regards to wildfires.  The last wildfire Prescott experienced was the “Indian Fire” which started on May 15, 2002.  It was the most significant fire in Prescott over 100 years.  5 homes were destroyed along with 1365 acres of vegetation.  Due to the USFS fuel reduction, quick coordinated initial attack by the USFS, Prescott Fire Department, Central Yavapai Fire District, and the cooperation of the Prescott Police Department, Yavapai County Sheriff’s office and Yavapai Division of Emergency Management and numerous volunteers the fire was contained in five days.  Let’s be fire wise and keep our community safe.

Posted by Sue Brown | Discussion: No Comments »

Arizona Monsoon

Arizona Monsoon 

The Arizona Monsoon is just around the corner, and the corner is even closer this year than last.   Prior to 2008, the Monsoon Season was considered to have started when there were three consecutive days when the dew point averaged 55 degrees or higher.  In 2008, the National Weather Service decided to take the guesswork out of the start and end date of the Monsoon Season.  Beginning in 2008, June 15th will be considered the first day of Monsoon Season, and September 30 will be the last.  This decision was made so more emphasis would be placed on safety, and not the definition of Monsoon Season.
According to the Daily Courier, this Monsoon may be more severe than recent years bringing heavier rains and more damaging lighting.  Monsoon storms can be awe-inspiring to experience, but life threatening if you’re caught outdoors.  Here are some safety tips.

1.  If you see a sign that says “Do Not Cross When Flooded“, take it seriously!  It takes only a few feet of moving water to move your car, even if it’s an SUV.  If you do get caught in flood waters, try to climb out on to the roof of your car and wait for help.  Use your cell phone to call 911.

2.  If you’re driving, slow down.  Rain storms limit visibility and make the roadway slick.

3. Lightning Strikes are beautiful to watch, but dangerous.   On average, 67 people per year are struck and killed by Thunder Stormlightning in the United States.  If you’re caught outside, stay away from open fields, high points of land, trees or other tall objects, standing bodies of water and all metal objects.  Click HERE for more information on lightning safety.

4.  Monsoon storms can produce severe hailstorms. Those of you who lived here in 1999 probably remember the hail storm that struck Prescott Valley.  If you get caught in a hail storm, find shelter immediately.  Avoid windows and skylights.  If possible, move your vehicle to to a sheltered area.

5.  Take care of your Pets during Monsoon Season.  Thunderstorms can be very frightening to your pets.  If you know that a storm is on the way, bring them inside, or make sure they are in a safe, secure area.  Their first instinct may be to run, and you don’t want them running onto a busy roadway.

Posted by Sue Brown | Discussion: 1 Comment »

Exploring Prescott’s Natural Beauty

granite Dells

Willow Lake or Watson Lake are great places to take your canoe or kayak.

Willow Lake trees

Prescott is beautiful in the spring, and there are many places to hike, walk your dog or ride a bike.    Horses, dogs and bikes are welcome on the trails at Willow Lake. 
If you enjoy watching birds, Willow Lake is home to many species of birds including eagles, falcons, hawks, a variety of ducks and blue Heron. 

Willow Lake Hiking Trails
Click on the link below for more information on Prescott Parks and Recreation
Prescott Parks

Posted by Sue Brown | Discussion: No Comments »

Selling Your Prescott Home In Today’s Market

townhome

 

In a Buyer’s market, Sellers need to do everything possible to make their home stand out among the competition.  You want buyers to be excited about getting inside your home, and remember it for all of the right reasons.  Here are some tips.

Curb Appeal is more important than ever…
When Buyers have 25 to 30 homes to choose from in any particular price range, you need to make your home stands out!  A clean, fresh first impression is priceless.  Make sure that your front yard is neat, clean and inviting to potential Buyers.  Repair cracks in the driveway, touch up the exterior paint, plant some flowers.

flowers in the yard

De-Clutter
It’s important that buyers see the home and not be bombarded with  your personal belongs.  Be sure that your home decor is neat and simple.  In this case, less is more!

A Little Touch Up And A Little Paint
Painting is relatively inexpensive, and creates a big impact.  Fresh, clean rooms make a great first impression.  If you’re re-painting, use warm neutral colors.  In a buyers market, it’s important for your home to be in “move-in condition”, or as close to it as possible. 

Bathrooms And Kitchens
These rooms sell houses.  Make sure these rooms are crisp and clean.  If your cabinets are tired and out of date, a coat of paint and new pulls can make them look like new.  Keep the counter tops in both kitchen and bath free from clutter, it makes the room look bigger.  If you’re going to spend money upgrading, these are the room that produce the best return on your investment.

The Back Yard
People love to hang out in the back yard.  The same rule applies for the back yard as the front.  Plant some flowers, make sure everything is neat, trimmed and inviting.  You want potential buyers to see themselves having a summer BBQ in your back yard.

If your home has curb appeal inside and out, it will greatly increase your chances of getting offers and ultimately sold!

Posted by Sue Brown | Discussion: No Comments »

May 27, 2008 Real Estate Market Update

Watson Lake, Prescott Arizona 

Current sales statistics are holding steady in some areas, and declining in others.    Although sales seem to be picking up a little, the absorption rates for most of Prescott and the Tri-City area is over two years.  The absorption rate determines how long it will take for existing homes on the market to be absorbed by buyers at the current rate of sale.   Below is the market update for the month of May, 2008.   To compare sales statistics for March or April, click on the links: March, April.

  

Prescott Sales Statistics as of May 27, 2008

Price Range Residential Properties On The Market Residential Sales Last Month Absorption Rate # Of Months It Will Take To Sell
$300,000 and below 188 12 15.67
$300,001 to $500,000 449 16 28.06
$500,001 to $800,000 324 9 36
$800,0001 to $1,000,000 72 2 36
$1,000,001 & above 87 4 21.75
Totals 1,120 40 28

Prescott / Tri City Absorption Rates By Area
See below for area definitions (110 - 150)

Area Residential Properties On The Market Residential Sales Last Month Absorption Rate # Of Months It Will Take To Sell
110 151 9 16.78
120 377 15 25.13
130 156 2 78
140 178 7 25.43
150 104 4 26
Williamson Valley 193 4 48.25
Prescott Valley 695 23 30.22
Chino Valley 287 12 23.92
Dewey 165 3 55
P.C.Club/ Quailwood 101 7 14.43
Totals 2,407 86 27.99

Area 110: North of Gurley/Thumb Butte, West of Willow Ck Rd including Longview
Area 120:North of Gurley, East of Willow Creek Road, West of Hwy 89
Area 130:East on Hwy 69 from Hwy 89 & 69 Junction, East of Hwy 89
Area 140: South of Gurley, East of Park/White Spar, West of the Ranch
Area 150: South of Gurley, East of Park/White Spar

As always, please feel free to contact me with any questions.

Regards,

Sherry Huffman
Realtor-Associate
The Huffman Group, Realty Executives
928-533-1833
928-441-1201 e-fax
sherry@thehuffmangroup.com
www.theHuffmanGroup.com

Posted by Sue Brown | Discussion: 1 Comment »

Is The Housing Crisis Over? You Decide

I thought this was an interesting article written by Cyril Moulle-Berteaux,  managing partner with Traxis Partners LP, a hedge fund firm based in New York.  This article was published in the Wall Street Journal on May 6, 2008.

The Housing Crisis Is Over      By CYRIL MOULLE-BERTEAUX
May 6, 2008; Page A23Wall Street JournalThe dire headlines coming fast and furious in the financial and popular press suggest that the housing crisis is intensifying. Yet it is very likely that April 2008 will mark the bottom of the U.S. housing market. Yes, the housing market is bottoming right now.How can this be? For starters, a bottom does not mean that prices are about to return to the heady days of 2005. That probably won’t happen for another 15 years. It just means that the trend is no longer getting worse, which is the critical factor.Most people forget that the current housing bust is nearly three years old. Home sales peaked in July 2005. New home sales are down a staggering 63% from peak levels of 1.4 million. Housing starts have fallen more than 50% and, adjusted for population growth, are back to the trough levels of 1982.Furthermore, residential construction is close to 15-year lows at 3.8% of GDP; by the fourth quarter of this year, it will probably hit the lowest level ever. So what’s going to stop the housing decline? Very simply, the same thing that caused the bust: affordability.The boom made housing unaffordable for many American families, especially first-time home buyers. During the 1990s and early 2000s, it took 19% of average monthly income to service a conforming mortgage on the average home purchased. By 2005 and 2006, it was absorbing 25% of monthly income. For first time buyers, it went from 29% of income to 37%. That just proved to be too much.Prices got so high that people who intended to actually live in the houses they purchased (as opposed to speculators) stopped buying. This caused the bubble to burst.Since then, house prices have fallen 10%-15%, while incomes have kept growing (albeit more slowly recently) and mortgage rates have come down 70 basis points from their highs. As a result, it now takes 19% of monthly income for the average home buyer, and 31% of monthly income for the first-time home buyer, to purchase a house. In other words, homes on average are back to being as affordable as during the best of times in the 1990s. Numerous households that had been priced out of the market can now afford to get in.   

 The next question is: Even if home sales pick up, how can home prices stop falling with so many houses vacant and unsold? The flip but true answer: because they always do.  In the past five major housing market corrections (and there were some big ones, such as in the early 1980s when home sales also fell by 50%-60% and prices fell 12%-15% in real terms), every time home sales bottomed, the pace of house-price declines halved within one or two months.The explanation is that by the time home sales stop declining, inventories of unsold homes have usually already started falling in absolute terms and begin to peak out in “months of supply” terms. That’s the case right now: New home inventories peaked at 598,000 homes in July 2006, and stand at 482,000 homes as of the end of March. This inventory is equivalent to 11 months of supply, a 25-year high – but it is similar to 1974, 1982 and 1991 levels, which saw a subsequent slowing in home-price declines within the next six months.Inventories are declining because construction activity has been falling for such a long time that home completions are now just about undershooting new home sales. In a few months, completions of new homes for sale could be undershooting new home sales by 50,000-100,000 annually.Inventories will drop even faster to 400,000 – or seven months of supply – by the end of 2008. This shift in inventories will have a significant impact on prices, although house prices won’t stop falling entirely until inventories reach five months of supply sometime in 2009. A five-month supply has historically signaled tightness in the housing market.Many pundits claim that house prices need to fall another 30% to bring them back in line with where they’ve been historically. This is usually based on an analysis of house prices adjusted for inflation: Real house prices are 30% above their 40-year, inflation-adjusted average, so they must fall 30%. This simplistic analysis is appealing on the surface, but is flawed for a variety of reasons.Most importantly, it neglects the fact that a great majority of Americans buy their houses with mortgages. And if one buys a house with a mortgage, the most important factor in deciding what to pay for the house is how much of one’s income is required to be able to make the mortgage payments on the house. Today the rate on a 30-year, fixed-rate mortgage is 5.7%. Back in 1981, the rate hit 18.5%. Comparing today’s house prices to the 1970s or 1980s, when mortgage rates were stratospheric, is misguided and misleading.This is all good news for the broader economy. The housing bust has been subtracting a full percentage point from GDP for almost two years now, which is very large for a sector that represents less than 5% of economic activity.When the rate of house-price declines halves, there will be a wholesale shift in markets’ perceptions. All of a sudden, the expected value of the collateral (i.e. houses) for much of the lending that went on for the past decade will change. Right now, when valuing the collateral, market participants including banks are extrapolating the current pace of house price declines for another two to three years; this has a significant impact on the amount of delinquencies, foreclosures and credit losses that lenders are expected to face.More home sales and smaller price declines means fewer homeowners will be underwater on their mortgages. They will thus have less incentive to walk away and opt for foreclosure.A milder house-price decline scenario could lead to increases in the market value of a lot of the securitized mortgages that have been responsible for $300 billion of write-downs in the past year. Even if write-backs do not occur, stabilizing collateral values will have a huge impact on the markets’ perception of risk related to housing, the financial system, and the economy.We are of course experiencing a serious housing bust, with serious economic consequences that are still unfolding. The odds are that the reverberations will lead to subtrend growth for a couple of years. Nonetheless, housing led us into this credit crisis and this recession. It is likely to lead us out. And that process is underway, right now.Mr. Moulle-Berteaux is managing partner of Traxis Partners LP, a hedge fund firm based in New York. 

Posted by Sue Brown | Discussion: 2 Comments »

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