Happy New Year
2024 is here! Falkner Cohen Group has some exciting developments to share with you, as we move into this new year with a fresh start. We are now licensed to serve your real estate needs in Prescott, Prescott Valley and surrounding areas.
Also, we have formally teamed up with the Phoenix Children’s Hospital to volunteer with several fundraising projects. We are pleased and honored to be associated with this amazing charity. Janet Reiman, Director of the foundation’s fundraising At Phoenix Children’s stated , “we see a future in which we make premier pediatric care accessible to every child who needs it—and we need your help to get there. we welcome contributions from diverse individuals and groups and are pleased to have the Falkner Cohen group support our mission.”
Market Update
We saw interesting and somewhat confounding changes in the real estate market over 2023. While the first six months saw price increases and steady flow of sales, the last six months experienced the highest interest rates in years (around 8%) which was the catalyst for transaction numbers to tumble. 30 air rates now average approximately 6.6% and dropping with 15 year rates under 6%.
Potential sellers are still in a holding pattern - although in Jnauary we expect to see a bit more inventory. It’s very hard for a homeowner to let go of a 2.75% interest rate, even if they desire a different home.
We do expect prices to continue to increase at a slow pace, as interest rates start to come down and buyers decide to get into the market. Increased buyer demand should spur higher inventory in the next 2 quarters.
Overall we are predicting solid prices for sellers, and better opportunities for buyers as rates slowly decrease.
Upcoming Events
Photo Courtesy of https://www.barrett-jackson.com/
January and February provide the best opportunities for visitors and residents to enjoy some big name events.
Barrett Jackson Car Auction - January 20th through 28th
For auction vehicles, tickets and schedules visit
www.barrett-jackson.com
Featured Listing
10655 E. Blue Sky Drive Scottsdale, AZ$3,300,000
Pinnacle Canyon – Gated Community on Troon North golf course
5,205 SF
4 Bedroom, 4.5 bathroom with casita and 3 car garage
Located on the 14th hole overlooking the course
Gorgeous golf property located on the 14th hole of Troon North Monument course, within the prestigious gated community of Pinnacle Canyon. Stunning panoramic mountain views capture both the sunrise over Four Peaks to the east and sunsets over Troon Mountain to the west. With an oversized pocket door that opens to the exterior living space, you’ll have the ultimate in indoor /outdoor living. The open floor plan creates a spacious and inviting atmosphere, with a dual sided LED fireplace to warm both the living room and dining area. The remodeled large chef's kitchen features an abundance of cabinetry and top-of-the-line Thermador appliances. Luxury amenities include a climate-controlled wine cellar and theater room with 160-inch screen. The primary bedroom features a private deck, sitting area, and luxurious bathroom with spacious double walk-in closets and soaking tub. The home features a fourth bedroom (attached ensuite casita) suitable for use as a bedroom, office or gym. Situated on a cul-de-sac, you’ll have the best of both privacy and views.
