Short sales and foreclosures make a great buyers market in Sedona

Springtime is here in Sedona and with it come the travelers and sunseekers from all over the country.  This year we’re also seeing a fair number of investors coming back to town due to the fantastic deals that can be had in just about every price category.   No matter what price range buyers look in… they’ll find a smattering of underpriced homes that can only make them smile.  For a while it was the under $600k market that saw it’s fair share of short sales and foreclosures, but now there are some in the $800-$1M range and some over $1M as well…  They’re changing the look of Sedona real estate and if you’re a buyer that’s been waiting for an opportunity to purchase Sedona Real Estate on the cheap - then now’s the time.  Future prospects for Sedona properties are still good - I wouldn’t advise buying anything to “fix and flip” - but buying Sedona real estate for a long term investment now looks more intelligent than ever.  There is twice the inventory of a few years ago, and prices have come down 10-15%… so if you’ve been putting off your Sedona dreamhome,  don’t wait much longer.  The real estate market like all markets are cyclical… it will come back - and 10 years from now you’ll be able to laugh that you bought a home in Sedona for a song….

March 19th, 2008