If you blinked, you missed it.  The Sedona real estate market went from a balanced market to a sellers market over the last few weeks and we're seeing many multiple offer situations in Single family homes within the city limits under $500k.  If it's priced near the market value - there are people waiting for homes like this and they'll pounce on it.  This quick post is to help give guidance on what will give you a leg up on competing offers. 

Many times there are cash buyers waiting out there and cash buyers almost always trump any offers with a loan contingency.  So, if you're needing a loan to buy a home - use the following tips to help compete against the others:

1) Get a prequalification in advance - This state mandated form shows that you've already spoken with a lender and that they belive you to be credit worthy.  This form is MANDATORY when you submit your offer.  An offer submitted without a prequal isn't a valid offer. 

2) Do yourself a favor and get the prequal letter from a LOCAL mortgage broker.  Big banks and out of area/out of state lenders tend to be slower and less likely to be able to get local appraisers and push the deal forward - so often times selling agents will give preference to offers with local, trustworthy mortgage specialists

3) Offer more earnest money   The standard around here is 1-3%, but if you want it, consider putting more down as earnest funds (talk to your agent about the implications of this)

4) Inspection period - AZ state contract has 10 days in the boilerplate and many agents are asking for 12-15 days.  Consider speaking with an inspector to find availability so that you can act quickly and keep a short inspection period.

5) Purchase price - If it's a good deal on paper and you view it and it works for you - consider offering at least full price when making an offer.  If you're waiting to see the home because another agent is showing it to other buyers - take that as a clue and know that you're in competition with that buyer.  I've seen homes go for up to $10k over list price for a well priced home in a good neighborhood.  Of course, speak to your agent about this and make an informed decision.

6) Be here to see the house.  I know - it sounds like a no-brainer, but offers that come in from buyers and agents that haven't been into the house will be viewed as a lower tier offer.  At the bare minimum if you can't make it, have your agent view the home and FaceTime or video chat with you so that you can see the home prior to making any offer. 

Happy Springtime!!!

Sedona Arts Center and Verde Valley School Invite Creative People from Around the World to a New American Residency Program for Artists and Cultural Managers

Something magical is happening in the high desert landscape of Northern Arizona. In the geological expanses of Sedona, there’s a powerful form of creative energy pulsating from the red rock vortexes—and at its core is new cultural production and support for the creative process. Sedona Arts Center and Verde Valley School have opened applications for the 2017 Sedona Summer Colony, and encourage artists, creative producers, and cultural managers to apply and be part of this new energy source.

The game within the game…you design the piece you will be as you move around the game board called Earth.  Are you a Goat, Scorpion, Water Bearer, Fish, Crab, Virgin, Lion, etc.?

Now keep in mind that the game board has already been created; stamped with its pattern. There seem to be parts that give off jackpots, property, and some that detain us or remove our freedom or cash. 

The real estate market is entering a different phase of its cycle as new homes and subdivisions make a very welcome return into a market that is desperate for more inventory. After the crash of 2006, construction came to a crashing halt as prices tumbled and speculative financing evaporated; remember all those half-completed homes and subdivisions that became tumbleweed “farms” and were then demolished after the buyers dried up? Well, just as the phoenix rose from the ashes, so are those projects.

Facilitating Art and Community Since 1958

Here at the Art Barn, we keep an open door for creative people, ideas, and proposals. In fact, each and every day we meet artists who come in and share their thoughts on community development, collaboration, and new ways of engaging others in the arts. As your local creative hub, part of our mission is to nurture, cultivate, and advance great ideas. Sharing yours begins with a stop at 15 Art Barn Road, and a walk into our administrative offices at the Art Barn.

Thoughts on a Creative New Year from Eric Holowacz, Executive Director

In 1958, in the small town that was then Sedona, some very visionary people decided that our community needed a creative hub. They were artists, sculptors, civic leaders, educators, business owners and—whether they knew it or not—our town’s pioneers in cultural development.

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    Rick Wesselhoff

    Sedona real estate

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    Rachel Starr

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    Kelli Klymenko

    Sedona Arts Center