Market Up 4 of the Last 5 Months in Flagstaff

Is the market going up or going down? Or are we just bouncing along the rocky bottom? The local paper reported a decline in housing prices for 2011, which is true, but let’s take a closer look. In short, it was at first worse and then better.

The total decline in Flagstaff for 2011 was about 8%. However, this includes a sharper drop in the first half of the year and then somewhat of a rebound in the second half. From January through July, the median price fell a total of 12%. But then from July’s low through November, the median price rose a little each month for a total increase of 7%. It’s difficult to know which way the trend is going due to another slight drop in December; however, four straight months of price increases is significant. Hopefully, the next few months will give us a better idea of the direction of the market.

Take note that these monthly stats are based on the median prices for the trailing six months to give us a more stable and accurate figure. The average price on a month by month basis swings too wildly because a few really high or really low sales can throw off the average in any given month.

Source for Statistics: Northern Arizona MLS – Flagstaff area residential home sales.

Dues change in Continental Country Club

Members of Flagstaff’s Continental Country Club have seen somewhat increased dues for 2012. A full membership is now $400 per year and an associate membership is $285.

The full membership has access to all of Continental’s amenities, such as the pool, tennis courts, fitness center, and a discount on golf. They also have access to the Bear Paw Activity Center, which has an outdoor pool, kids splash pool, hot tub, basketball court, and games, movies, etc. for the kids.

The associate membership includes architectural review and CC&R compliance (the HOA drives through the areas regularly), which are good features for resale. Plus, according to Continental, associate members can upgrade to a full membership on a year-by-year basis by paying the difference.

The default type of membership is determined by the subdivisions within Continental.

Of course, when you consider that the annual fee is per property and not per person, the full membership is a very good value for what you receive in amenities.

In related news, Continental’s new restaurant, to replace Jotini’s, will be opening very soon and will be called Jake’s on the Green.