Tips & Trends for the Flagstaff Real Estate Market:
Past Articles [August 2004]
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Looking West for Real Estate
Many of us in the real estate business in Northern Arizona have speculated for some time that real estate values and sales in Williams are on the verge of a boom. A recent editorial in the Williams-Grand Canyon News, June 16-22 edition caught my eye and reaffirmed these suspicions. A new well with the prospects of an improved water supply and the possibility of the Arizona Territory Theme Park have many of us excited about the future of the area.
If you are looking for an affordable home and enjoy a small town lifestyle the time is right to go west and invest in Williams. A recent appraisal that I reviewed on a property there, indicated that property values are approximately 30% less in Williams than in Flagstaff. That is great news for anyone living in Flagstaff who cannot afford real estate here but would like to own their own home yet remain close to Flag.
I have been told that investors are beginning to look to Williams with ideas of developing home sites in the community. How far they will get with development is anybody’s guess at this point. Recently two title companies in Flagstaff have opened branch offices there, and real estate offices both in Williams and Flagstaff have begun expanding their local operations.
The hand writing is on the wall, Williams is in the cross hairs of growth and for the next couple of years it will be interesting to watch how the real estate market develops. If you currently own property in Williams I suspect you will see a dramatic increase in your property values within the next five years. The 30% gap that I mentioned above will begin to close. This is good news for those who currently own real estate, and it can be good news for you if you invest in Williams real estate.
As with all of the communities in the southwest there are water and employment issues that city officials and residents are working to overcome, but on the whole Williams is becoming a more and more attractive place to live and invest.
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