Quote of the week.

“Life is short. Eat desert first”.

FLAGSTAFF LUXURY MARKET UPDATE

The health of the Flagstaff luxury market really seems to be improving versus 2012. I can’t wait until the month is over so that I can prepare the new report. Thus far 2013 is looking good. I will have the update report online shortly after the end of the month. Stay tuned and don’t hesitate to contact me prior is you need valuations on a specific area and help finding that dream home.
Cheers
Gregg Munson

THINGS TO DO IN FLAGSTAFF AZ THIS WEEKEND

Our local newspaper, the Arizona Daily Sun, publishes a neat little update describing things to do in Flagstaff. Some things are more exciting than others but I thought it worth mentioning. Click to view the latest happenings in Flagstaff: http://azdailysun.com/calendar/

Twin Arrows Casino

We are at the Casino getting ready to watch fireworks. Hopefully thief display will be a good one. I will report later. Happy fourth everyone

FLAGSTAFF REAL ESTATE MARKET SUMMARY MAY 2013

The Flagstaff real estate market is doing well as we are up in almost all categories for the broad market; i.e. The Absorption Rate is up versus 2012, the Average List Price, Median List Price, Average Sale Price, and Median Sale Price are all up. In addition, the Average and Median Day on Market is down substantially versus 2012. All I can say is that it’s great to see an improving market after so many years of bad news. Look out 2014; it’s going to be good. To read the full details market report, click the following link: May Market Summary

FLAGTAFF ARIZONA’S FIRST FRIDAY ART WALK TONIGHT JUNE 6 2013

It’s that time of the month for Flagstaff’s monthly street party. From 6-9 PM on the first Friday of every month, Flagstaff’s historic downtown comes alive with art vendors, shopping and restaurants all catering to the public. This time of year, the weather is fabulous and it’s no doubt you will have a great time. In addition, our local Russ Lyon Sotheby’s office downtown will be open should you want to learn more about Flagstaff real estate. Come see up. To learn more about the Art Walk, click here: http://www.flagstaffartwalk.com/guide.htm

WHAT’S GOING ON IN FLAGSTAFF AZ THIS WEEKEND JUNE 1, 2013

There are lots of great happenings this weekend in Flagstaff. One of the most exciting events is Flagstaff’s annual Hullabaloo. Check out the website for more info. http://www.flaghullabaloo.com/

FLAGSTAFF REAL ESTATE PRICES ARE UP AND BIDDING WARS ARE BACK

So what’s up with the Flagstaff real estate market as it compares to the national market? From my perspective, Flagstaff seems to be experiencing what most of the major markets are experiencing; i.e. Sellers are calling the shots and bidding wars are back. This is not the case with all price ranges but it is in the $250K and under price range. I am starting to see the market heating up in the mid to upper end with substantially more activity than last year and far less inventory. I am quite confident that next year will be a year of much higher prices and a somewhat better inventory supply. Time will tell. As always, your comments are welcome.
Cheers
Gregg Munson
Associate Broker

WILL OWNING FLAGSTAFF REAL ESTATE MAKE SENSE IN 30 YEARS?

WILL OWNING FLAGSTAFF REAL ESTATE MAKE SENSE IN 30 YEARS?

“It’s quite possible that the next decade might bear a resemblance to the 1960s or ‘70s.
Homeowners did very well if they bought in 1960 or 1970, locked in low fixed-rate mortgages and saw the nominal values of their homes soar while their real mortgage balances declined.
This could be an auspicious time to buy a house for people who aren’t out to bet on the housing or mortgage markets but are instead, focused on settling into a home for the long term.”

Robert Schiller
NY Times 4/20/2013

PONDEROSA TRAILS IN FLAGSTAFF AZ TO GET ITS OWN ZIP CODE

As of July 1 , 2013, the Ponderosa Trails subdivision in West Flagstaff AZ will have a new zip code.  The zip code will be 86005 versus 86001.  The post office noted that Flagstaff has grown and thus there is a need for a new zip code.  Why Ponderosa Trails get the zip code is something I can’t answer.