The breathtaking city of Sedona is located in the heart of Arizona, straddling the boundaries of Coconino County and Yavapai County. Based at the mouth of Oak Creek Canyon, in the northern Verde Valley Region, Sedona offers unparalleled views of the world-famous Red Rock formations. Sedona is full of neighborhoods that give residents stunning landscape, access to hiking trails and some of the best scenery in the United States. Combined with a thriving downtown core, delicious restaurants and first-class amenities, Sedona is drawing more and more residents to the area. Learn more about the best places to live in Sedona, Arizona in this comprehensive guide.
Living in Sedona, Arizona: The Definitive Guide aims to highlight some of the many reasons why people are choosing to live in the area. When USA Weekend comprised a list of The Most Beautiful Places to Live, Sedona was considered the 1st choice. After looking out over the stunning red sandstone formations it’s not hard to see why.
This guide will go over a number of different aspects of life in Sedona such as best neighborhoods, restaurants, education system, and amenities. If you are considering a move to Sedona, you will want to keep reading!
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Are you interested in finding a bargain in the Sedona real estate market? This is a list of the 12 most affordable homes in Sedona real estate. Let’s face it, Sedona may not be the most affordable place to live in Arizona but it does come with it’s perks. The outdoor lifestyle, the beauty of the region and the active social scene will keep you busy.
Sedona Real Estate – Prices Are Climbing
The cost of Sedona real estate has been climbing and now is the time to consider purchasing a home. You may not be ready to move yet but buying a Sedona home now can be an effective hedge against sky rocketing prices.
Here’s a series of pictures from the snow storm. Looks like we have about 2 feet so far. Some pictures are attributed to our neighbor Brent Henkle.
US law requires that a home buyer receive a loan cost estimate from the mortgage lender within 3 days of submitting a mortgage application. Additonally a buyer should also receive a closing disclosure no later than 3 days prior to the close of escrow. The disclosure will include the final terms and details of the mortgage loan and associated closing costs.
What are Closing Costs?
Closing costs are fees paid at the closing of a real estate transaction. This time is called the closing or close of escrow (COE) is when the title to the property is transferred to the buyer. Closing costs are typically incurred by both the buyer and seller. Some closing costs are based on the price of the home.
Closing costs are Usually in the 2% and 5% range relative to your purchase price.
Discuss closing costs with your lender as well as your agent and title company. Together, they can give you a good idea of what it’s going to cost. The biggest expenses for buyers are typically loan origination fee and or points. Points are paid when you want to buy down the interest rate.
New Sedona Real Estate
Sedona home for sale at 740 Mountain Shadows Dr in West Sedona. Lovely home built in 2013 and ready for you to move right into.
For more information, Call Susan 928-301-4949 or Troy 928-202-0700
Sedona real estate statistics for single family homes.
Sedona – New Home for Sale $999,000
A great opportunity to acquire a home built by Jim Lawler of Lawler Construction. Known as one of the finest builders in Sedona, the quality of construction and materials will be evident throughout this home. This new construction home is Energy Star Certified & is situated in the gated portion of Thunder Mountain Ranch subdivision in West Sedona. This special gated portion of Thunder Mountain Ranch has only 7 lots and adjoins Coconino National Forest. The home is situated to take in the red rock views from 3 sides of the home & the great room has a sloped ceiling to take full advantage of the panoramic red rock views of Sedona.
It’s a pretty warm day today in Sedona. We decided the horses needed a little cooling off.
Here’s Flyer after getting hosed off on a hot day. He’s decided to go for a roll and play with his lead.
When it comes to buying a home, whether it is your first time or your fifth, it is always important to know all the facts. With the large number of mortgage programs available that allow buyers to purchase homes with down payments below 20%, you can never have too much information about Private Mortgage Insurance (PMI).
What is PMI?
Freddie Mac defines PMI as:
“An insurance policy that protects the lender if you are unable to pay your mortgage. It’s a monthly fee, rolled into your mortgage payment, that is required for all conforming, conventional loans that have down payments less than 20%.
Once you’ve built equity of 20% in your home, you can cancel your PMI and remove that expense from your mortgage payment.”
As the borrower, you pay the monthly premiums for the insurance policy, and the lender is the beneficiary. Freddie Mac goes on to explain that:
“The cost of PMI varies based on your loan-to-value ratio – the amount you owe on your mortgage compared to its value – and credit score, but you can expect to pay between $30 and $70 per month for every $100,000 borrowed.”
If you like chili and you’re in Sedona next May 5th, be sure to go by the Great Sedona Chili Cook-Off. We volunteered with the Sedona Rotary this year and had a great time. It took place this year, as in years past, at Tlaquepaque next to Oak Creek. We mostly sold t-shirts and water for a few hours and then the next shift arrived giving us time to try all of the great chili available.
Two different groups competed this year. We had the restaurants in one group and the municipalities (Sedona, Cottonwood, Clarkdale and Sedona Fire) in the other. Our first vote went to El Rincon Restaurant which is also in Tlaquepaque. They offered three different chilis, all good. They seemed to have a green chile base.
Our favorite amongst the municipalities, with mayors and city council serving, was the Sedona Fires chili. Heads and shoulders above the others.
Put this event on your calendar. It’s sponsored by Sedona Rotary Club and the proceeds go to good causes.
We’ve been told by some clients that Sedona homes are just to expensive, or it’s overpriced. We can state that it’s not overpriced as Sedona homes are appraising easily for the sales price. Affordability is a difficult concept and getting people to agree on whats affordable is almost impossible.
We have a lot of people moving to Arizona from California. They are drawn by the lower taxes and affordable housing. However, when we speak to people from Texas or the Midwest, we are often told that the Sedona home prices are “ridiculous” and “they are going to have to come down a lot on the price”. Unfortunately, the Sedona real estate market is determined by supply and demand. Currently, the list to sold price ratio in the Sedona MLS is running at 96.5%+. During the next couple months that will likely get closer to 100%.
Sedona is surrounded by National Forest so we only have a finite amount of developable land. We have 4 million tourists a year which means Sedona is exposed to a wide range of people. Sedona is one of the most beautiful places in the world and we are privileged to live here. But, if the price is to high, we have viable alternatives in the surrounding communities.
April 25, 2017 – Closed sales from past 6 months
|City||Avg Home Sale (single family, stick built home)|
What are prices in other areas like?
With Sedona home values going up and a growing demand for homes by buyers, a number of home-sellers might be inclined to try to sell independently (FSBO) without the assistance of a experienced Sedona Realtor.
Most real estate agents will be experienced and trained with strategic negotiation and, typically, the seller isn’t. A home seller needs to be aware that his or her capacity to negotiate will identify whether or not they will obtain the most beneficial offer for themselves and their family members.