Rates are down a little from last week. Interest rates are very low historically. Its a great time to be a buyer!

I just added a section dedicated to information about buying a home. Check it out here

Lots of information about buying a house, information on Short Sales and Foreclosures and how it relates to buyers. Quick links to the Flagstaff Foreclosure List, the Flagstaff Short Sale lists.

I also added some preferred lenders with contact information as well as a locational link to utility phone numbers.

I will be adding a similar section for sellers in the near future, stay tuned!

Need a quick close? Academy Mortgage is offering a 14-Day-Mortgage-Guarantee.

Many banks are currently taking 45 days or more, Academy will do it a lot faster.

This 14 day guarantee applies to conventional mortgages as well as FHA mortgages. VA loans can be closed in 18 Days.

If Academy cannot close your loan within their guarantee they will credit you $100 per day the loan is late!

Call Jeremy Magness at Academy Mortgage for more info;

Office: 928-226-6908

Cell: 928-310-4206

www.academymortgage.com/jeremymagness

I'm not sure if it is the only one of its kind locally, but its the only one I can find. I developed a List of Foreclosures in Flagstaff that are updated every thirty minutes. You will find all of the properties that are listed for sale and are in MLS. This is not a list from last week, a list of upcoming foreclosures (that are constantly delayed), these are all Bank Owned, Real Estate Owned (REO) listed properties that can be purchased now. You can typically finance these properties and get them at very good overall values. Contact Me and we will start looking at the Bank Owned Properties in Flagstaff that interest you the most!

I also have a similar list of Short Sales in Flagstaff.You can also find many good properties at great prices that are listed as Short Sales. Short Sales often take a considerable amount of time to purchase, but they can be well worth the wait if you have the time! Lets start looking today!

For 2010 there were a total of 721 house sales in the greater Flagstaff region, reported in the Northern Arizona MLS, versus 728 in 2009 and 671 in 2008. The highpoint was in 2005 when there were a total of 1210 sales. So for the past 3 years, sales have basically been holding flat while prices have continued to drop.

The median sales price in 2010 was $280,000 which was down -10% from the 09 figure of $309,950 and off -26% from the top of the market in 2006 when the median sales price was $379,000. For comparison purposes, the median price per-square-foot paid for a house in 2010 was $148 vs. $213 in 06, off a little over 30%, and very close to 04 prices.

Observations:

1) For 2010, Foreclosures and Short-Sales accounted for 35% of total sales.

2) Inventory levels of houses for-sale, have dropped to a 10.5 month supply.

3) Median sale prices, on both a monthly and quarterly basis, are close to 03 levels.

Credit: Steve Brighton, Century 21 Flagstaff Realty

Well, I started from scratch today with an entirely new look to the site. I never liked any of my old designs, but I think this one is finally decent!

I hope this works well for everyone and is more user friendly!

Added to the hotsheet on the homepage is a section for School Districts. These links will show you all of the listings within each Elementary School District. I hope this helps when you want to find a home within a specific school district.

Hope you enjoy!

Well..... After finding out suddenly that a required MLS listing feed update required a completed new website core, I had to take down everything I had accumulated throughout the past 5 years of ongoing design and start over! OUCH, my eyes hurt.

I think the site is now better than ever. It should be faster, better, and hopefully will look a little better. I am working on a few features that I lost due to the new components, hopefully I will be able to recode those components and reimplement the few missing features.

I hope you will use and enjoy this new site as much as the old site.

Thanks for visiting!

Flagstaff November housing sales continued to decline. For November 2010 there were a total of 61 houses sold through MLS. This compares to 70 sales last November. Prices also continued to fall. The median sales price this November was $242,400 vs. $305,000 a year ago. This is a 21% drop and also represents a new monthly median sales price low for the correction.

Distressed sales, foreclosures and short-sales, totaled 26 or 43% of total sales in November. The average price paid for a distressed sale was $118 per square foot. This compares to $154 per square foot paid for non-distressed sales.

Observations

1) - Avg. time to sell and close on a short-sale was 5 and a half months

2) - Inventory levels of houses for sale in Flag have dropped to a 12 month supply

3) - Mortgage rates have jumped up 3/4 of a point to 4.75% since last month!

4) - Bank of America has now resumed foreclosures in Arizona.

After hours of programming I now have a hotsheet on the homepage at www.nickcosper.com.

Easy access to and total counts of new listings, Bank Owned Listings, Short Sales, Price Changes, and Much more. Listings update every hour.

Let me know what you think.