home | contact us | site map

Real Estate Tips: Articles on the Flagstaff Real Estate Market

We write informative monthly articles about timely real estate topics. Be sure to visit our archives so you can read past articles, which cover a range of Flagstaff real estate topics. You can also sign up for our monthly newsletter.

A Reflection of our 2007 Market

We all yearn for the good old days of 2004 and 2005 when sales were hot and all that was necessary to get a house sold was to put a sign in the yard and soon it was sold. The reality is those days are gone and probably won’t be back for some time.

If you read or listen to national coverage concerning the real estate industry you will hear nothing but gloom and doom. What happens on a national scale does not necessarily reflect the total picture here in Northern Arizona. Real estate is a local commodity and the national picture may or may not represent what is happening in our market.

The fourth quarter of 2007 has brought some surprising life into our market when compared to the first three quarters. Well maintained homes in desirable areas that are less than $400 K are selling quite well. Those between $400 K and $700 K are not faring as well as mortgage money is tighter than it has been in the past, and the few buyers out there are being very selective in what they purchase. Homes from $700 K up are in a different category altogether.

2007 has not been the best year for real estate sales in our market, but I have endured worse since I began selling here in 1984. 2008 is still a wild card but I believe we are moving into a more normal pattern much like we experienced during the late 1990’s and early 2000’s. Sales should be steady but not like we have seen in those wild years.

Currently interest rates are low and prices have leveled off making it a good time to invest in the American dream.

I wish you each a happy holiday season and a healthy and prosperous new year.

Mary Monday is an Associate Associate at RE/MAX Peak Properties. She can be contacted at (928) 779-9090 or Mary@MaryMonday.com.

» Current Article » Past Articles

“Mary Monday made the experience of selling my home a genuine pleasure. It delights me to know there are true professionals left in the world.”—BS