 Photo Credit New York Times Several real estate news articles caught my eye over the last few days, which I’d like to share with my readers:
Arizona Daily Sun’s monthly Flagstaff real estate rundown appeared on Sunday. The number for median Flagstaff home sales in August -- $300,000 for single family homes – was $15,000 lower than what I had reported here for the Flagstaff metro area median home sales earlier in the month. The difference is explained by the fact that the newspaper uses only home sales within the city limits while I use those plus the sales in the immediately surrounding rural and suburban areas like Doney Park, Timberline, Kachina Village, Fort Valley (Baderville), and Forest Highlands.
Flagstaff real estate was also in the news this past week for its lack of affordable housing. Business Week reported on the “Housing Opportunity Index” created by the National Association of Home Builders and Wells Fargo Bank. The latest survey shows Flagstaff as the 10th least affordable metro area in the country. Business Week noted that Flagstaff is “trying to boost affordability by raising the salaries of its residents. It is nurturing the biosciences, renewable energy, and other high-paying industries,” according to Vice-Mayor Al White. Flagstaff was in the top ten least affordable places to live with New York City, San Francisco and San Luis Obispo, and Honolulu. If you want affordable housing, try Ohio, Michigan and Indiana. Hmmm. Where would I rather live? For a slideshow of most affordable and least affordable, click here.
Finally, I noticed an article with advice for directed to first-time-homebuyers in the New York Times this weekend. It’s actually good advice for homebuyers whether you’re a first-timer or not. My favorite of the rules is the “eight-hour rule,” namely, whatever you do, make sure you’ll be able to sleep at night. Here’s the article: Seven New Rules for the First-Time Home Buyer.
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