As we look toward the holidays and reflect back to take inventory on the year gone by, there is plenty to be thankful for, especially for those of us fortunate enough to call Flagstaff home. While the macro real estate market has made national headlines for nearly the last six months because of the roller coaster caused by increasing interest rates, our micro market here in Northern Arizona has held steady – and normalization is a good look for us. Some data points that might be of … [Read more...] about Being Thankful This Holiday Season
Lori Anna Harrison
Big Ideas in Small, Affordable, Futuristic Packages
Smaller spaces are gaining bigger attention these days. There are many reasons for this shift, including being conscious of sustainability, leaving a lighter carbon footprint, and probably top of the list is simply the affordability factor. Currently, with inflation swelling around us and the minimum wage heading to $16.80 per hour in January, many are looking for ways to stretch the dollar and make it reach further. Good design doesn’t have to cost more and smaller spaces can be … [Read more...] about Big Ideas in Small, Affordable, Futuristic Packages
Home Prices Still Higher Than A Year Ago
What a difference a year makes. The season has changed to autumn and as the leaves begin to turn, our real estate market is seeing some signs of cooling temperatures as well. Yet, even with multiple increases in interest rates and greater inventory, home prices are still higher, even if not by much, than this time last year. As of September 2022, the average single-family home price in Flagstaff is $734,092 and was $729,044 September 2021, which is only $5,048 more than last year. However, at … [Read more...] about Home Prices Still Higher Than A Year Ago
Great Expectations for a Normalizing Real Estate Market
When you hope for the best yet prepare for all possible outcomes, you have good strategy. Great expectations set the stage for a great performance. What has transpired in real estate in the last several months is the normalizing of the market. Inventory has increased, interest rates have increased, days on market have increased and the amount of pressure on buyers has decreased. Options have increased. And the median home price in Flagstaff has decreased for the fourth month in a row. We can … [Read more...] about Great Expectations for a Normalizing Real Estate Market
Keep Calm and Keep Perspective
While the media has been sensationalizing all topics related to real estate starting to take a tumble on a national and state level, let’s take a look at the numbers and see what is happening from a local standpoint, versus the macro-overview. During the past year in Flagstaff, the median home price of a single-family home appreciated 11.7%, from $640,000 July 2021 to $715,000 July 2022, and appreciated 25.7% the year prior, from $509,000 July 2020 to $640,000 July 2021. While homes are now … [Read more...] about Keep Calm and Keep Perspective
Community Amenities Trending Pickleball
Lifestyle and community amenities sell homes. The old adage about location, location, location is still accurate; however, these days, it is more about lifestyle plus location. During the summer, a majority of buyers looking to purchase in Flagstaff are simply looking to escape to cooler temperatures. And also, to find outdoor activities for themselves and/or their children and guests. As temperatures heat up in the Valley, we are experiencing the same with real estate sales in Flagstaff. … [Read more...] about Community Amenities Trending Pickleball
The Path Toward Normalcy
Over the last several months, the market has shifted slightly as it relates to price decreases, enough so that in another month or two, we can call it a trend. During the last two years, the Flagstaff real estate market rarely saw a price drop and, in fact, had price increases and bidding wars on many properties listed. The multiple-offer scenario has not evaporated, but now more than ever, the condition of the home as well as a strong listing price based on comparables in the neighborhood are … [Read more...] about The Path Toward Normalcy
Realtor Lori Anna Harrison Honored as Nation’s Fastest Growing Agent
Zion Realty Flagstaff Area Manager Lori Anna Harrison has been honored with the National Fastest Growing Agent Award from Homesnap, the company that built the industry’s top-rated real estate app. The award recognizes Harrison as the fastest growing sales agent out of more than a million agents across the country in a 12-month period. In 2021, Harrison represented 46 families in search of their dream home. In the first quarter of 2022, she accomplished three times the production level that … [Read more...] about Realtor Lori Anna Harrison Honored as Nation’s Fastest Growing Agent
April Showers Bring Record-Setting Spring
The million-dollar question asked most frequently regarding real estate as of late is: “Will homes continue to sell at these prices and at this pace for much longer?” Although the answer is complex because of many factors, the short answer is “yes,” barring a world war or unforeseen natural disaster. There are several metrics that support this response and yet the most simple contributor is demand outpacing supply. Throughout Northern Arizona, we have more buyers than homes available. As of … [Read more...] about April Showers Bring Record-Setting Spring
Increasing Seller Success in a Sizzling Market
Often, when considering current market conditions, it is easy to generalize and think that every home listed goes for thousands or hundreds of thousands over list price. Although our real estate market is extremely strong and continues to be very competitive, the simple truth is that not every home sells for over list. Even with a shortage of available homes, there are price reductions on homes that are not camera ready. There are several things sellers can do to set themselves up for … [Read more...] about Increasing Seller Success in a Sizzling Market
