Flagstaff’s First Friday Art Walk Coming November 5th 2010

The First Friday ArtWalk is one of Northern Arizona’s premier arts events. Each month, art galleries and businesses in historic Downtown Flagstaff open their doors with special art exhibitions, performances, live music, treats and much much more. This event goes on year round and is lots of fun. It’s a must see if you would like to experience what historic downtown Flagstaff is all about. To learn more about this wonderful event, visit the Art Walk’s website at: http://flagstaffartwalk.com

NEW GOVERNMENT PROGRAM ALLOWING INVESTORS TO BUY FORECLOSURES IN BULK

A new government pilot program may be coming which allows investors to buy foreclosures in bulk and turn them into rentals. Will this help the markets? Please share your thoughts. http://bit.ly/rFxF6W

2012 PREDICTIONS FOR THE FLAGSTAFF REAL ESTATE MARKET

1. 2012 will be the start of the housing recovery: Flagstaff real estate numbers for the last quarter or so have shown positive results with non-distressed homes selling far better than distressed homes. Buyers are out there looking for good homes to buy. I have been seeing buyers in record numbers for this time of year.
2. Banks will start lending again: And not just to people with good credit. After 5 years of foreclosures and short sales, banks will strategize that there are millions of Americans with jobs, good income and, except for that that upside down mortgage, an otherwise good credit history. There will be reform in the banking industry that will affect who and how banks lend that will include those that experienced a foreclosure or a short sale.
3. Flagstaff homes will see positive price increases in 2012: Many of our neighborhoods are already experiencing modest increases in pricing. There will still be some price declines where lower end homes in poor condition are on the market via REO agents.
4. Land will heat up: Land sales have been dead for years as the cost to buy land and build is too high compared to the choices offered in the resale market. As the economy improves buyers desiring a new home will be forced to buy land and build. Land prices won’t go up much but land/lot inventory will start to turn.
5. The overall economy will improve: Much of the woes in the housing market have to do with consumer confidence. The increase in activity we are experiencing is being buoyed along by stronger than usual consumer confidence in the overall marketplace. Gas and oil prices are stable. Unemployment figures are improving. The stock market is becoming more predictable and overseas markets seem to have stabilized as well. These are all factors that make people feel better about the overall economy and will cause them to spend again. Need more evidence? Holiday Sales for 2011 were up 16% over last year. Americans are tired of feeling poor.
6. Baby Boomers will buy real estate again: Pre-boom, (pardon the pun) the Baby Boomers were going to retire earlier, richer and look to buy lots and lots of real estate. The housing crash and poor economy delayed the onslaught, but they are still out there. Maybe not as rich, maybe not as young, but still there.
7. Interest rates will remain exceptionally low: It’s an election year. Interest rates of every variety will be stable throughout 2012. But, they have do have to go up eventually. Buyers need to take advantage of these historically low rates soon.

MORE FORECLOSURES IN 2012 FOR FLAGSTAFF AND ELSEWHERE?

Realty Trac and other sources say more foreclosures coming in 2012. What do you think? Are they just trying to sell subscriptions or do you think the worst is over for Flagstaff and other markets?

What’s going to take the housing market forward?

Written by Alex Charfen. Read this great article: http://bit.ly/qIKCcl

Flagstaff Short Sale and Foreclosure Help

One out of six homeowners is behind on mortgage payments. If you know of someone in need of help, consider allowing me and my team. Please visit our website, http://hosted.cdpe.com/GreggHelps, for free information on foreclosure prevention and help. Thanks for reading.

FLAGSTAFF GATED GOLF COMMUNITIES

Frequently, I receive requests for info on Flagstaff Gated Golf Communities. To learn more & view homes, click here: http://bit.ly/qIKCcl This site is uptodate with all current listings including Bank Owned, foreclosures and short sales. Please contact me for additional information at 928.853.4289. Thanks for reading

BUYING FLAGSTAFF HUD AND OTHER FORECLOSURE HOMES IN NORTHERN ARIZONA

Are you looking for a foreclosure home in Flagstaff or Northern Arizona in general? One source to consider would be a HUD foreclosure home. HUD is an acronym for the Department of Housing and Urban Development. This federal agency lists their upcoming and currently listed foreclosure homes on the following website: http://www.hudhomestore.com/HUDHome/Index.aspx?sLanguage=English. You can visit this website, view properties and then contact any real estate agent to help you place an offer or learn more about a particular property or properties.

It is not a true statement that you can buy from HUD directly. All HUD foreclosed homes are or will be listed with local real estate agents. In general, these foreclosed upon homes are priced below market making them a great deal. When you visit the HUD website and find a property you are interested in, check to see if it is currently listed or marked as “Coming Soon”. The coming soon status indicates that the home will show up as a listed property with a local Flagstaff real estate company in the next week or so.

In order to simplify the search process, you can view all currently listed HUD Flagstaff foreclosures and other foreclosed upon properties such as bank owned, Fannie Mae, and Freddy Mac homes on my Flagstaff real estate website, www.GreggMunson.com . To view these properties, just click on the “Bank Owned” tab on my home page. Again, this website contains all currently listed foreclosed homes with daily updates. Once you find a home(s) you like, Debbie and I will be happy to represent you in the purchase of a home in addition to providing comparable sales, neighborhood information and other pertinent data. As always, please don’t hesitate to contact us with questions. And remember, it’s a privilege to live in Flagstaff. Thanks for reading.

Flagstaff Real Estate Market Expected to grow in the next 5 years

The Fiserv Case Shiller Indexes predicts #Flagstaff AZ as offering real estate gains in the next 5 years. Read on: http://read.bi/no1xks

FLAGSTAFF 2ND QUARTER REAL ESTATE MARKET UPDATE

The first half of 2011 started with relatively strong sales and ended somewhat slower. Nonetheless, we are seeing the first significant upticks in certain categories which may foresee the start of a market recovery. Distressed properties defined as Bank Owned properties and Short Sales still comprise approximatley 50% of market sales. The second quarter saw a down tick in these types of sales. Upper end properties seems to be selling better as compared to previous quarters. Hang in there everyone. Perhaps we have turned the corner.
Flagstaff 2nd Quarter Real Estate Market Update

FLAGSTAFF MARKET REPORT JUNE UPDATE

Flagstaff quick stats: Total city of Flagstaff listings=298; total short sale listings=20; total bank owned listings=7. Prices up. Full market report coming end of June.