Selling your home is a big decision and a time that you want to be prepared. In Flagstaff, we are experiencing a seller’s market, meaning that the housing inventory is scarce and there is an abundance of buyers looking to find a home. Compared to this time in 2021, the total active listings in Flagstaff are down 15%, with new listings down 32%. However, we are seeing that the sold volume is up 18%. So while we are seeing fewer homes on the market, the ones that are available are selling … [Read more...] about Understanding the Home-Selling Process for Success
Russ Lyon Sotheby’s International Realty
Flagstaff Real Estate: Is it a Hedge Against Inflation?
Welcome to our 2022 Flagstaff real estate phenomenal seller’s market. Forecasted to surpass our 2021 real estate sales prices, even most seasoned realtors are surprised at our wild paced sales. Properties listed in the $600,000 to $900,00 range are receiving 18 to 20 offers within days of publishing on the MLS. The Flagstaff number of buyers far exceed the number of properties available for sale. Although the Phoenix real estate sales prices have increased by 27% from this time last year, and … [Read more...] about Flagstaff Real Estate: Is it a Hedge Against Inflation?
What Realtors Want
You may see real estate sales professionals with a different perspective than mine, particularly if you are not one yourself. You may see our local Flagstaff realtors as salespersons you can call for information and prices for listed properties around town, or maybe show you a house or two, and even write an offer on your behalf. After all, how hard could it be? After 90 hours of pre-licensing, you take a state and local test and BAM- you are a realtor. I know, because that’s what I thought too, … [Read more...] about What Realtors Want
To Buy or Not to Buy
If you are an investor or home buyer in Flagstaff and have weathered the storms and purchased a property within the past year, despite competing with multiple offers at relatively high prices, good for you! You probably had to waive or partially waive your appraisal contingency, possibly accept the property in its current condition without asking the seller to make any repairs, and maybe even “sweetened “ your purchase offer with a non-refundable earnest money deposit or more. Regardless of … [Read more...] about To Buy or Not to Buy
Finding Buyer Success in a Seller’s Market
I always say, we are extremely privileged to live in such a beautiful part of the country. As summer comes to an end and Flagstaff’s sunflowers are in full bloom, I look back on what was one of the busiest real estate seasons of my career. It was a full-blown sellers’ market, where any listing was solid gold and buyers were fighting for first place. While the market is still on fire – because of high demand and low inventory – in recent weeks, the market has moved from “red-hot” to “hot.” … [Read more...] about Finding Buyer Success in a Seller’s Market
How to Buy a House Above Listing Price and Appraised Value
In life, and specifically in real estate, it’s all about risk and who takes it. In a typical market, the risk lies with the seller if the sales price for a property may be overpriced for the market. But, this is not your average market. What happened, and why would a buyer today want to assume more risk? In case you haven’t noticed, Flagstaff’s residential market is experiencing the hottest seller’s market in history. Home sales prices from this time last year to now, according to our … [Read more...] about How to Buy a House Above Listing Price and Appraised Value
The Golden Girls of Real Estate Describe the Local Market: Anything Can Happen
Realtors Rosemary “Rosie” Lamberson and Freddi Paulsrud of Russ Lyon Sotheby’s International Realty are seasoned experts in Flagstaff’s dynamic real estate market. With 80 years of experience between them, Rosie and Freddi are sharing their valuable knowledge as “The Golden Girls of Real Estate.” FBN: For homebuyers and sellers, the last year-and-a-half has been like riding an extreme roller coaster. How would you explain where we’ve been and where we’re going in the real estate … [Read more...] about The Golden Girls of Real Estate Describe the Local Market: Anything Can Happen
How Recent Shifts Impacted the Local Real Estate Market
If you could wave a magic wand and live anywhere, where would that be? For me, that answer took the trip off the tongue every time to Flagstaff. My first time in Arizona was for the 1995 Big Sky Conference Indoor Championships in Flagstaff. Bozeman was getting a foot of snow as we skated off the runway bound for the meet. Two hours later, I hopped off the plane in Phoenix with the rest of my over-dressed, vitamin D-deprived teammates, into a balmy 78 degrees. We took a pit stop on the way … [Read more...] about How Recent Shifts Impacted the Local Real Estate Market
How to Buy a House Above Listing Price and Appraised Value
In life, and specifically in real estate, it’s all about risk and who takes it. In a typical market, the risk lies with the seller if the sales price for a property may be overpriced for the market. But, this is not your average market. What happened, and why would a buyer today want to assume more risk? In case you haven’t noticed, Flagstaff’s residential market is experiencing the hottest seller’s market in history. Home sales prices from this time last year to now, according to our … [Read more...] about How to Buy a House Above Listing Price and Appraised Value
What Does It Mean When a Realtor has an SRES Designation?
Let’s face it, not all buyers and sellers are alike. A Senior Real Estate Specialist (SRES) is a certified real estate agent who has received additional training that may be helpful in navigating real estate options and challenges for seniors 50 and over. This certification is under the umbrella of the National Association of Realtors, and the SRES designation is attained by those realtors who want to better meet the needs of those buyers and sellers close to or in retirement. Just as you … [Read more...] about What Does It Mean When a Realtor has an SRES Designation?