Warning: include(/var/www/rrnweb/includes/joomla_init.php): failed to open stream: No such file or directory in /home2/rrnews/public_html/templates/redrocknews1.5/index.php on line 328

Warning: include(): Failed opening '/var/www/rrnweb/includes/joomla_init.php' for inclusion (include_path='.:/opt/php54/lib/php') in /home2/rrnews/public_html/templates/redrocknews1.5/index.php on line 328

Breaking News:

Close

Online Poll

Should Sedona adopt Coconino's rental policy?

Sponsored By:

Tlaquepaque Village

As a Sedona homeowner, you're probably well aware of what's gone on in the market if you read the newspapers, watch TV, read news on the web, podcast, whatever.  Prices are down across the country for properties, and we've definitely been affected by the slowdown.  Prices have come down in Sedona, however it's not as drastic as it is in other market like Phoenix, Vegas, Miami, etc.  However, now that banks are starting to notice the reduced valuation, some banks are starting to pull their second mortgages on homes.  So, if you have a second mortgage on your home in Sedona, expect a letter in the mail from your bank freezing your access to funds.  I've heard of it happening to different people around town... and thought that this notice might do somebody some good out there.    This just shows that the banks want to preserve their investment by not allowing people to over-borrow past the value of their house.  It's smart of them to do this and it might prevent some future issues with certain borrowers. 

Leave your comments

0
terms and condition.
  • No comments found

Other Headlines

March signs her first Western at the Worm
March signs her first Western at the Worm

"Dance With The Devil" earned author J.D. March the title of Best New Western Writer by True West Ma [ ... ]

Library room grows minds
Library room grows minds

"I'm not an interior designer - I'm a librarian," Sedona Public Library Youth Services Librarian Kar [ ... ]

More News

Latest Sports

Local examples remind us how to celebrate 4th

Local examples remind us how to celebrate 4th

In the span of a year, another kind of wildfire in the Verde Valley swept through its sports landscape. At this time last summer, two Camp Verde athletes on the cusp...

Sedona Weather

Fair

88°F

Sedona, AZ

Humidity: 34%
Wind: SW at 12 mph
Wednesday
Mostly sunny
68°F / 97°F
Thursday
Partly cloudy
70°F / 93°F
Friday
PM Thunderstorms
70°F / 95°F

Sedona Gas Prices

Lowest Gas Prices in Sedona
Sedona Gas Prices provided by GasBuddy.com