Breaking Down Sedona’s Real Estate Sales – 2009 Versus 2008
   
       
We have all heard the expression “Looks are deceiving”. It certainly applies to the Sedona and Verde Valley Residential Sales statistics covering the last two years.

For starters, take total annual sales. In 2008, the year the stock market crashed in October, the figure was $261,624, 935. In 2009, the year we experienced the full impact of the economic collapse that followed, the figure was $301,992,552.

Yes, folks, it’s hard to believe, but those are the numbers. An increase of 15.4% in dollar volume.
   

How can that be, you might ask. Breaking the annual numbers down into quarters helps us understand what apparently took place. In the first quarter of 2008, when the future still looked enticing, sales totaled $54,453,722. By contrast, during the first quarter of 2009 when the realization of how bad things really were took root in our consciousness, sales fell to $31,617,798, a painful 42% decrease.

The second quarter is traditionally the busiest and best quarter for Sedona area real estate sales. Neither 2008 nor 2009 were exceptions. 2008 second quarter sales rose to $82,363,485.

But what happened during the second quarter of 2009? An upswing that can only be described as a miraculous surprise. Sales more than tripled from the first quarter to $110,225,879, a figure 34% higher than the previous year.

What accounted for this unprecedented phenomenon? Hard to say, but here is the reasoning I came up with. Over the years tens of thousands of people have visited Sedona and secretly said to themselves, “Someday this where I would like to live” or “This would be a great place to invest in real estate”.

Then, unexpectedly, the Sedona real estate market begins to turn sour (along with the rest of the country) and prices are soon down to levels not seen since the beginning of the decade.

For those that could afford it, it was a gift from heaven. They took advantage of what will probably turn out to be the opportunity of a lifetime, and made their moves. The same momentum continued into the third and fourth quarters of 2009.

In the third quarter of 2008, sales were $69,474,252. In the same quarter of 2009, sales reached $80,095,520, an increase of 15.2%.

In the fourth quarter of 2008, sales were $54,833,496. In the same quarter of 2009, sales reached $80,053,355, an increase of 46%.

Adding it all up, we can plainly see that Sedona stood out like a shining star throughout the Great Recession. And why wouldn’t it? In good times and bad times Sedona remains physically the most beautiful locale in the U.S. A. in which to live in.
   
The big question is, will the golden opportunity to buy Sedona real estate at bargain prices extend into 2010. Certainly, the figures for January seem to validate the belief that it will. Sure, the median price of a Sedona residence decreased 1% in December, but how significant is that? For me, I truly believe this is the bottom in real estate prices and that the increasing “buy” trend will continue to grow in the months ahead.

If “looking into Sedona real estate” is on your to-do list, give me a call at 928-300-5050 and let’s talk about the possibilities. I would love to help you find the right property in this landscape of unforgettable beauty.

You can E-mail me at Lee@LeeCongdon.com or call me at 928-300-5050.

Now is the Time to Buy Real Estate in Sedona

Take a look at Lee Congdon's top luxury home pick (photo links to property details).  Sedona real estate sales continue to move ahead at a steady pace. Through good times and bad times savvy Buyers have never failed to recognize that Sedona is a special place, both for buying a home and living here, or investing in the dwindling amount of land still available for private development.

Because of its uniqueness this is a market that takes time and knowledge to fully understand. There are a lot of steps and details to navigate. A smart, experienced, hard-working agent such as Sedona Realtor Lee Congdon, can not only help you make the proper decision that will be consistent with your requirements, but, by knowing the nuances of the market, can negotiate the best price on your behalf.

Sedona Arizona Homes for Sale

“It's a Buyers Market in Sedona”

The current economic outlook creates an amazing Buyers-Market in luxury destinations such as Sedona.  Doesn't it make sense to work with a real estate agent who is specifically trained to represent YOU, the Buyer? That's what an Accredited Buyer Representative designation means, and if you check my credentials on the ABOUT LEE PAGE, you will find I have had even more special training than most other agents.

Let my years of experience help you to find the best Sedona property suitable for you, and then negotiate the best possible price to go with it. Contact Me!

Things You Should be Thinking About . . .

If you haven’t purchased real estate lately, or if this is your first time, I’ve listed some of the useful tasks that can help you through the purchasing process:

       1.          Get Organized: Create a file of all your important financial documents, including copies of all your financial statements, bank accounts, investments, credit cards, auto loans, recent pay stubs and your last two years’ tax returns.
       2.          Do The Math: Assess what funds you have for the down payment and the closing costs entailed in the purchase (i.e. inspections, appraisals, title insurance, etc.)
       3.          Get Pre-Approved: If possible, get pre-approved for a mortgage. If need be, I can help you select a vendor and guide you through the process. There are two key benefits to getting pre-approved: one, you will know how much house or land you can afford, and two, when you find the property you wish to purchase, your offer will be stronger than someone without pre-qualification.
       4.          Get It On The Market: If you own a home that you need to sell before you can make your Sedona purchase, one of your priorities is to “get it on the market” and into escrow as quickly as possible. The further along you are in the process of selling your existing home, the better off you will be in the buying process. Most sellers will look favorably on your offer if your present home is in escrow

In What Ways can Lee Congdon Help You?

What should be most important for you is to choose the right real estate agent. Buying Sedona property is a costly endeavor and the last thing you want to do is overpay.

Bear in mind, the commission for any real estate transaction is paid exclusively by the Seller, so hire someone you will feel comfortable working with. I have a thorough working knowledge of the market drawn from 13 years of Sedona real estate experience. During that time I have learned how to sniff out properties not yet on the market, and been able to dig up inside information relating to sudden price reductions. Remember, experience is not expensive . . . it is priceless!

If you will allow me to be your agent I will use my years of experience and all the resources at my disposal to find you the property you have your heart set on. Call Lee Congdon +01 928-300-5050 or email me.

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