MovEnomics Real Estate Magazine

PUBLISHER

Peter Fife

Coldwell Banker Realty

914 E Gurley St Suite 100

Prescott, AZ 86301

Cell phone:( 928) 636-7000

Peter@ListingPrescott.com www.listingprescott.com

MANAGING EDITOR

Eric Lawrence Frazier, MBA

Office: (800) 401-8994 Ext. 703

Direct: (714) 361-2105

eric.frazier@thepowerisnow.com www.thepowerisnow.com www.blogtalkradiocom/thepowerisnow

ADMINISTRATOR

Erika Reyes

Office: (800) 401-8994 Ext. 703

Direct: (714) 361-2105

eric.frazier@thepowerisnow.com www.thepowerisnow.com

WRITER

Alvin Magua

GRAPHIC DESIGNER

Timothy Hornu

CONTACT

Peter Fife

Cell phone:( 928) 636-7000

REAL ESTATE BLOGS & ARTICLES

Peter Fife:Prescott’s Unique Selling Points: A Comprehensive Guide

Prescott, Arizona: Financing Your Home Purchase in Prescott What You Need to Know

The Pulse of Prescott: A Real Estate Market Update for the First Quarter

Maximizing Real Estate Opportunities in Emerging Markets: Lessons from Prescott, Arizona’s Success Story

Navigating Market Fluctuations: Strategic Insights from Prescott, Arizona’s Real Estate Expert Peter Fife

Prescott: Examining Investment Possibilities and Trends in the Second Home Market in Prescott

PRESS RELEASE PRESCOTT ARIZONA REAL ESTATE SHOW

Real Estate Tv with Peter Fife | The Power Is Now Media -Part 1

Real Estate Tv with Peter Fife | The Power Is Now Media -Part 2

Press Release for May 10th, 2024

Press Release for April 19, 2024

Press Release for May 13th, 2024

Press Release for Alril 12th, 2024

Press Release for Alril 26th, 2024

EDITOR’S NOTE

Dear Readers,

Welcome to the inaugural issue of The Prescott Arizona Real Estate Magazine. As we open the pages of this first edition together, I am filled with excitement and profound gratitude. This magazine represents not just a milestone in my career but a culmination of a lifelong journey in real estate, deeply rooted in Prescott, Arizona’s beautiful and vibrant community.

For 28 years, I have had the privilege of guiding clients through the intricacies of buying and selling homes, a journey that taught me the value of placing your needs first. This simple yet powerful motto has been my compass, guiding every decision, every negotiation, and every relationship I have built in this industry. This principle lies at the heart of The Prescott Arizona Real Estate Magazine.

Our mission is clear: to provide you with the most comprehensive, insightful, and personal guide to real estate in Prescott and beyond. Whether you’re a first-time homebuyer, a seasoned investor, or somewhere in between, this magazine is for you. We aim to demystify the real estate process, offering expert advice, market insights, and the latest trends to help you make informed decisions that are right for you.

In these pages, you’ll find a reflection on my journey in real estate. From successfully closing over 2,000 transactions to being named the #1 Agent for Coldwell Banker Northland in 2023, my experiences have equipped me with unparalleled insights into our local market, negotiation strategies, and the art of selling homes. This magazine is an opportunity to share that knowledge with you to help you navigate the complexities of real estate with confidence and success.

We will also celebrate the unique beauty and spirit of Prescott. This city, with its rich history, vibrant culture, and stunning natural landscape, is more than just a place to live—it’s a place to thrive. Through neighborhood spotlights, feature stories, and local market analyses, we’ll explore what makes Prescott an extraordinary place to call home.

As we embark on this journey together, I am reminded of the importance of community, of building relationships based on trust, integrity, and a shared vision for the future. The Prescott Arizona Real Estate Magazine is more than a publication; it’s a platform for us to connect, learn, and grow together.

I am profoundly grateful for the opportunity to serve you through this magazine. Our top priority will always be Your dreams, goals, and well-being. Here’s to discovering the endless possibilities that lie within the pages of our homes and the pages of this

magazine.

Thank you for joining me on this exciting new venture. Let’s make it a journey to remember.

God Bless, serve others, and stay well,

Peter Fife

Publisher, The Prescott Arizona Real Estate Magazine

“Placing your needs first” 928-636-7000

Coldwell Banker Northland

PROPERTY INFORMATION:

Wow large home on a large lot with incredible views of Granite mountain! Home with guest house! 2.53 Acres/ A double lot in the area, which can be split if desired! Brand new roof in 2022, Freshly Painted inside 2023! Great kitchen with granite counter tops, lots of cabinets and views. Spacious floor plan with 2 bedrooms and 2 baths up and 1 room/den down with 3/4 bath & laundry with inside and outside access. See floor plan attached. Detached studio guest house with a full bath. Lots of storage with a 30x30 attached garage as well as two large carport areas and multiple sheds. 3 Gas Fireplaces throughout. Spacious Kitchen with lots of counter top space. With a little updating and work this home could be beyond amazing! This home could also make a great Vacation Rental!

PRESS RELEASE

ISM SERVICES INDEX SLUMPS AS CREDIT CONDITIONS TIGHTEN

May 10, 2024

Key Takeaways:

The Institute for Supply Management (ISM) Services Index declined 2 points to 49.4 in April, its first time below the expansionary threshold of 50 since December 2022. Most major indices were down as the business activity index declined 6.5 points to 50.9, the new orders index dropped 2.2 points to 52.2, and the employment index fell 2.6 points to 45.9. Indices indicative of supply chain and other inflationary pressures were up, with the prices paid index increasing 5.8 points to 59.2 (though this followed a 5.2-point decline the month prior) and the non-seasonally adjusted supplier deliveries index rising 3.1 points to 48.5.

Consumer (non-mortgage) credit outstanding increased by $6.3 billion in March, according to the Federal Reserve Board. Revolving credit (largely credit cards) was up a modest $15 million, the smallest gain since outright contracting in April 2021, while nonrevolving credit outstanding (largely student and auto loans) increased by $6.1 billion.

The Federal Reserve Board Senior Loan Officer Opinion Survey (SLOOS), for the three months ending in April, showed that 4.1 percent of loan officers reported tightening mortgage loan standards on net, the smallest share in six quarters. Net mortgage demand remained weak with negative 19.9 percent of loan officers reporting stronger demand on net, the eleventh consecutive negative reading. The net share of loan officers reporting tightening standards for commercial and industrial lending, which typically leads measures of business credit in those categories, moved up slightly after declining steadily since mid-2023.

Forecast Impact:

The fall in the ISM services index into contractionary territory would be consistent with a sharp slowdown in services spending in the second quarter. However, both the ISM manufacturing and services surveys have been more pessimistic than hard measures of activity in recent quarters. As such, while we continue to expect a slowdown in consumption growth toward the second half of 2024, our near-term outlook for consumption remains fairly robust.

Consistent with this view, March’s virtually flat reading in revolving credit outstanding may be an early sign that consumers are becoming less able to finance future consumption with credit. While the ratio of revolving credit outstanding to disposable personal income remains below its pre-COVID level, higher interest rates are likely putting some consumers under stress: Personal interest payments on all nonmortgage debt as a percentage of total personal outlays has been at its highest level since 2008 over the past three quarters. Combined with renewed signs that banks are keeping lending standards relatively tight for both businesses and consumers in the latest SLOOS, we continue to expect the higher interest rate environment will work to slow growth in the second half of 2024.

Source

PROPERTY INFORMATION:

Amazing Views in this 4 bedroom with all walk in closets. 2,240 sq. ft on over 2 acres, bring your horses & your RV! Super floorplan and many high end upgrades including Tile shower, and all solid surface tops, sep shower/tub in Master w/enormous walk in closet and soo much more. Ground set on stem wall all financing available. 2.10 acres, 50+ GPM well, all underground utilities, & paved streets! All with NO HOA HURRAY!! Other upgrades include 9 foot high flat ceilings, oversized transom windows, extended sliding glass door to large pack patio, full 1 year manufacturer’s warranty. Solid wood cabinets, stainless appliances, farm sink & tile backsplashes, back-lit mirrors, upgraded black hardware decor package, ceiling fans, & trim throughout. Garage options avail for additional cost.

PROPERTY INFORMATION:

Super corner lot with Views of Mingus Mountains and San Francisco Peaks. Super desirable neighborhood with homes between $700,000 to 2M. All utilities in the street and close to down town and Hiking Trails. Great building site on the South East corner with some grading. See it today!

E Gurley St Suite 100

02/29/24

PROPERTY INFORMATION:

Brand New Roof Dec 2023! Huge 0.65 Acre lot, Circular Drive, Double RV gate, Extra 400 sq. ft. of usable space in the enclosed patio area, not included in the sq. ft. 3 bedrooms + Den & Formal dining room and 2 baths. Also a grandfathered Tesla Lease APS bills average $37 a month generally. Kitchen with granite counter tops & Alder cabinets open to the great room with electric fireplace. Spacious primary suite with separate shower and tub and large walk-in closet. Hot tub in the back conveys. Back yard is huge with fruit trees and lots of space. This is a premium lot and plenty of room to do what you want with it. See it today!

02/16/24

PROPERTY INFORMATION:

Super updated 5 bedroom 2 1/2 bath home with brand new roof in 2023, New A/C and Heater in 2022, New Fence in Dec 2021, Tiled baths in 2022, Hickory Cabinets with Granite counter tops, large inside laundry room. Luxury vinyl flooring. Freshly Painted inside and out!! Spacious back yard with awesome tree House! This home is walking distance to Taylor Hicks elementary. Also close to down town. Could make a super Vacation rental especially with NO HOA. One car attached garage, and also room for RV parking. Additional photos to follow, Owner agentadditional photos will be uploaded Friday evening. Incredible buy.

Don’t miss this great opportunity to build in an area of attractively established homes. This .36 aprx acre home site at 9881 E Reavis Circle is located in popular Prescott Valley Unit 20. No HOA and neighborhood friendly CC&R’s. Be sure to verify the available utilities thru the Town of Prescott Valley. We are told the sewer assessment has been paid. Lot inventory, especially in Unit 20, in this price range is limited. BE SURE TO CHECK US OUT TODAY!

PRESS RELEASE

HOME SALES AND STARTS PULL BACK IN MARCH, WHILE ECONOMIC DATA CONTINUE TO SUPPORT NEAR-TERM GROWTH

Key Takeaways:

Retail sales and food services rose 0.7 percent in March and were upwardly revised in both January and February, according to the Census Bureau. The headline figure benefited a bit from a 2.1 percent price-related increase in gas station sales, though sales at general merchandise stores rose 1.1 percent and nonstore retail, representing primarily online sales, jumped 2.7 percent. Control group retail sales (excluding auto, building supplies, and gas station sales) increased 1.1 percent and were revised upward by three-tenths in February.

Industrial production, a gauge of output in the manufacturing, utility, and mining sectors, increased 0.4 percent to 102.7 in March, according to the Federal Reserve Board. Manufacturing activity rose 0.5 percent following an upwardly revised 1.2 percent gain the month prior, bringing the index to its highest level in 11 months. Mining output declined 1.4 percent, while utilities output increased 2.1 percent.

Existing home sales declined 4.3 percent to a seasonally adjusted annualized rate (SAAR) of 4.19 million in March, reversing roughly half of the surprise jump in February,

according to the National Association of REALTORS® (NAR). The number of homes available on the market rose 4.7 percent to 1.11 million, pushing the months’ supply up three-tenths to 3.2. The NAR’s measure of the median sales price of existing homes sold rose 4.8 percent compared to a year earlier.

Housing starts declined 14.7 percent to a SAAR of 1.32 million in March, the lowest level since August 2023, according to the Census Bureau. Single-family starts dropped 12.4 percent to a SAAR of 1.02 million, almost entirely reversing the 14.6 percent jump in the month prior, while multifamily starts were down 21.7 percent to a SAAR of 299,000, the lowest level since 2017, excluding the pandemic months. Single-family permits declined 5.7 percent to a SAAR of 973,000, ending a 13-month streak of increases. Multifamily permits were down 1.2 percent to a SAAR of 485,000. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index was flat at 51 in April. The index for single-family sales in the present moved up 1 point to 57, while the index for sales in the next six months declined 2 points to 60. The index for foot traffic of prospective buyers rose 1 point to 35.

Forecast Impact:

The strong gain in control group retail sales in March, as well as upward revisions to prior months, presents some upside risk to our Q1 and Q2 consumption forecast. While we continue to believe the current pace of consumption relative to income growth is unsustainable in the long run, wealth effects from recent stock market and home price gains may be able to continue to propel consumption growth in the near term. The industrial production report, which saw a second consecutive monthly gain in the highly cyclical manufacturing sector, is also supportive of relatively strong nearterm growth.

The pullback in existing home sales brought the quarterly figure in line with our expectations. It also confirmed our suspicion that the jump in February home sales was due to seasonal quirks and did not represent a sustainable rise in sales activity. Our current home sales forecast faces some downside risk from the recent runup in interest rates, but we continue to expect a gradual increase in sales activity as new listings continue to rise. The drop in single-family starts also brought the quarterly figure in line with our expectations. We expect some modest slowing in single-family construction next quarter because new starts have outpaced new sales in recent months. The first decline in single-family permits in more than a year is supportive of that forecast. Additionally, we continue to expect that multifamily construction will slow this year, in line with a further decline in permits.

https://www.fanniemae.com/research-and-insights/forecast/home-sales-and-starts-pull-backmarch-while-economic-data-continue-support-near-term-growth

02/09/24

PROPERTY INFORMATION:

High Efficiency Mandalay w/owned solar with 12 panels and super high efficiency upgraded Mitsubishi high end HVAC. Gourmet kitchen with 5 burner gas range, and large pantry area as well as many cabinets with soft close & granite counter tops. Super layout with large master suite with sep/shower and tub and dual sinks plus an immense closet. 3 bedrooms, + office + a flex room which could be a bedroom or game room plus 3 1/2 baths. Don’t miss the Jr master suite with a private full bath. The tandem 3 car garage is oversized with plenty of room for cars and shop space, comes with pre wiring for electric vehicle. Spacious back yard with extended covered patio and added pavers and walkways + storage shed and extra garden space. Soft water sys & owned RO System.

PROPERTY INFORMATION:

Updated and upgraded custom home with views! New roof in 2022, high end Anderson Windows! remodeled kitchen with pull outs, open to the great room with pass through stone fireplace all updated within the last 2 years. Elegant kitchen with Granite counter tops and desirable herb garden atrium. New hot water heater in 2022. Real Hardwood Floors & all tile floors, Live on one level with 3 bedrooms and 2 baths on the main level as well as an HUGE deck with views. Spacious master suite with sep shower & jetta tub. Game room, Great room and Family room Plus 400+ extra sq. ft with 7 ft clearance in the unfinished basement area great for shop space or loads of storage. Lower level has a family room, bathroom and 2 additional bedrooms

PROPERTY INFORMATION:

In the Pines on One Level, Brand New Flooring, Updated Kitchen with Corian/type counter tops! Super lot all fenced and great Privacy. Extra deep 26ft garage with Storage! 3rd car garage is currently an office but could go back to a 3rd car bay, or just use it as a wood shop. Amazing Back Yard oasis, super private, Trex Deck on the back deck and Hot Tub is included, Fully fenced back yard. Spacious master suite with sep shower and tub. Great room area with Gas fireplace, great floor plan with 4 bedrooms & 2 1/2 baths. Don’t miss the Tesla Car charger in the garage, or the large storage shed in the back. Truly a rare find

PROPERTY INFORMATION:

Views Never to be taken away & An Awesome lot originally paid a $40, 000 lot premium! 2021 build, tandem 3 car garage!! Great upgrades inside including Quartz counter tops, Tile floors in all the main walk areas and highly upgraded plush carpet in all the bedrooms. Great floor plan with 3 bed + den/office or Formal Dining room.

Third Car garage has Epoxy Floor and don’t miss the high end whole house water filtration system, soft water system and R/o System. This is a VERY Rare find and won’t last long, see it and you’ll buy it!

PROPERTY INFORMATION:

Some of the BEST VIEWS in American Ranch, never to be taken away, open space behind! Rare Equestrian 2.02 Acre Lot! Great riding, Walking distance to the Arena, and not far from the club house and pool. This Amazing home takes full advantage of the stunning Granite Mountain Views, Home has been professionally landscaped front and back! Ultra-modern design, 2 Spacious bedrooms and a huge laundry room that could be a potential office or pantry it’s so large with loads of cabinets. If you want a 3rd car garage and a barn, see the attached drawings for the 2-stall barn and 3rd car garage or tack room. Bask in the views from all the back windows, Energy star appliances and high-end luxury vinyl flooring, high end metal roof. Currently priced significantly under the cost to build!

PROPERTY INFORMATION:

Super Views! 9.91 Acres, Great Privacy, RV Carport. Own your own little Ranch. Gated Entrance. Oversized 3 car garage with 1/2 bath. High speed internet through Starlink which is transferable to the new owner, work from home and live on your own mini ranchette, enjoy the peace and quiet, views and long walks. Main house has an enticing great room with wood burning stove, plenty of room for entertainment. Kitchen with Granite counter tops and double oven gas range. Spacious Master Suite with large bathroom and walk in closet, Secondary bedroom is also large with a walk in closet. High efficiency with Radiant floor heat with newer boiler + back up forced gas heat. 3rd bedroom is the Den off the great room and is really best as an office no closet and no door. Fenced back yard

PRESS RELEASE

ACTING PRESIDENT SAM VALVERDE’S STATEMENT TO FINANCIAL SECURITY OVERSIGHT COUNCIL

Published Date: 5/13/2024

WASHINGTON, D.C.—On Friday, May 10, 2024, Government National Mortgage Association (Ginnie Mae) Acting President Sam Valverde provided the following statement to the Financial Security Oversight Council (FSOC):

Thank you, Madame Secretary, for the opportunity for Ginnie Mae to join the Council in this important work. Since the 2008 financial crisis, there has been a significant shift in the mortgage market away from traditional depository banks to nonbanks, or independent mortgage banks (IMBs). This shift is particularly pronounced in Government mortgage lending programs and Ginnie Mae’s mortgage-backed securities (MBS) program.

While the growth of IMBs in the mortgage market introduced unique challenges, it has also expanded the reach of these programs. IMBs have met borrowers where they are, adopting new technologies and practices to better serve them, and have helped millions of Americans achieve homeownership. Their story of growth has also been the story of Ginnie Mae’s growth, and our Issuers have helped advance our mission to expand access to affordable credit and housing to historically underserved communities, including low- to moderate-income borrowers, seniors, veterans, and rural and Tribal communities.

These federal programs were originally designed with depository institutions in mind. Independent mortgage banks lack the diverse funding sources that regulated banks enjoy. Their unique focus on housing finance has driven significant consumer benefits, but it also drives unique liquidity challenges in the housing market precisely when liquidity is most needed—to support loss mitigation and orderly servicing transfers during a downturn.

We at Ginnie Mae have been raising this source of concern for over a decade. We have spent just as long deploying our existing authorities to develop a suite of risk

management and oversight tools to manage these risks, but we need new authorities to address these issues in a holistic manner. This is why it is so important that we have a public conversation about these risks.

This report represents months of work and introduces a number of recommendations for how state and federal agencies can strengthen the housing finance system and address these persisting challenges.

We look forward to our continued work with the Council on these pressing matters and stand ready to provide technical assistance on any related legislative approaches. I am confident that, working across the public sector, we can drive meaningful change in a way that supports sustainable access to credit while protecting the financial system and consumers from harm.

https://www.ginniemae.gov/newsroom/Pages/PressReleaseDispPage.aspx?ParamID=327

PROPERTY INFORMATION:

Escape to the pines for the RARE opportunity to live in Groom Creek, just 15 min to town, where you will find paved roads leading to this 4 bed 3 bath house situated on over 1/2 acre of land. This home was just painted inside and offers high speed internet, quartz counter tops, double ovens and movable island in the kitchen. Additionally, this home offers an over-sized 2 car garage, NEW Roof 2023, RV parking, fenced dog run area and TREX deck to enjoy the scenic views and wildlife. Great family home or ideal Air BNB! No HOA! Assumable VA loan at around $150, 000 at 2.5%

PROPERTY INFORMATION:

In the Pines on One Level, Brand New Flooring, Updated Kitchen with Corian/type counter tops! Super lot all fenced and great Privacy. Extra deep 26ft garage with Storage! 3rd car garage is currently an office but could go back to a 3rd car bay, or just use it as a wood shop. Amazing Back Yard oasis, super private, Trex Deck on the back deck and Hot Tub is included, Fully fenced back yard. Spacious master suite with sep shower and tub. Great room area with Gas fireplace, great floor plan with 4 bedrooms & 2 1/2 baths. Don’t miss the Tesla Car charger in the garage, or the large storage shed in the back. Truly a rare find

PRESS RELEASE

HOT INFLATION DATA LIKELY TO DELAY RATE CUTS, PUT UPWARD PRESSURE ON MORTGAGE RATES

Key Takeaways:

The Consumer Price Index (CPI) rose 0.4 percent in March for the second consecutive month, bringing the year-over-year comparison to 3.5 percent, an acceleration of threetenths compared to February, according to the Bureau of Labor Statistics (BLS). Energy prices rose 1.1 percent after a 2.3 percent gain the month prior, while food prices rose a muted 0.1 percent over the month. Excluding food and energy, core CPI increased 0.4 percent for the third consecutive month, leaving the annual rate unchanged at 3.8 percent. Core goods prices declined over the month but were offset by large monthover-month increases in shelter (0.4 percent), medical care services (0.6 percent), and motor vehicle insurance (2.6 percent).

The Producer Price Index (PPI) increased 0.2 percent in March, pushing the yearover-year comparison up five-tenths to 2.1 percent, according to the BLS. Excluding food, energy, and trade services, core PPI rose 0.2 percent on the month, the smallest increase since November. Compared to a year ago, the core PPI was up 2.8 percent.

The National Federation of Independent Business (NFIB) Small Business Optimism Index declined 0.9 points to 88.5 in March, its lowest level since 2012. The net percentage of businesses planning to increase employment declined 1 percentage point to 11, the lowest level since the onset of the pandemic. Negative 18 percent of firms expect real sales to be higher, a decline of 8 percentage points. The net share of businesses raising average selling prices jumped 7 points to 28 percent, the highest level since October. A plurality of firms (25 percent) reported inflation as their single most important problem, an increase of 2 percentage points.

The minutes from the Federal Open Market Committee (FOMC) March 19-20 meeting showed that “almost all participants judged that it would be appropriate to move policy to a less restrictive stance at some point this year if the economy evolved broadly as expected.” Further, the minutes stated that slowing the pace of quantitative tightening (QT) should happen “fairly soon.” The planned structure, according to the minutes, would leave the agency MBS cap of $35 billion per month unchanged while reducing the current $60 billion cap on Treasury securities. Actual MBS runoff has averaged less than

half of the set cap since QT began in mid-2022.

Forecast Impact:

The gains in headline and core CPI were above both consensus and our expectations. The CPI has now had three consecutive readings that have come in above market expectations, suggesting that some price pressures beyond lagged shelter costs still remain. This is further supported by a sharp jump in the number of small businesses reporting price increases in March. As such, we will likely be revising upward our inflation expectations for the year. Still, the PPI came in somewhat below market expectations and suggests that the core PCE price index, which is the Fed’s preferred inflation measure, will be considerably softer than the core CPI. While that’s supportive of eventual rate cuts this year, we now see a June rate cut as increasingly unlikely given the strength in the labor market and generally hot inflation readings. The recent rise in the 10-year Treasury resulting from both the jobs report last week and the CPI report this week will also likely put upward pressure on mortgage rates above our current forecast.

https://www.ginniemae.gov/newsroom/Pages/PressReleaseDispPage.aspx?ParamID=327

PROPERTY INFORMATION:

Great Views & Privacy Over 3 Acres plenty of room for an RV! Tile Roof & High end Anderson sounds reducing windows, New A/C and Heat pump 2022! Great well w/ New pump and Pressure tank in 2015. Gardeners Dream home with Greenhouse on concrete slab and Fenced raised bed garden w/drip system. Hobbyists can enjoy the Oversize Heated 3 Car garage 24ft deep + a 12x15 Storage shed as well. Great floor Plan with 2,416 Sq. ft + an enclosed heated and cooled sun room area for extra space. 3 large bedrooms & 2 Baths + a HUGE library/office area with all built ins. Whole house Kenitco soft water system. Lots of space to park RV’s or Toys, lots of Parking space. All Paved Roads. HOA is a road maintenance HOA with FEW restrictions. See it today

PROPERTY INFORMATION:

BRAND NEW 2024 home with Views and NO HOA, Animals welcome! & RV Parking! located in New Subdivision with paved roads and underground utilities. Beautiful top of the cul-de-sac lot with private well producing 50+ gallons per minute! This home sits on a full acre of land with gorgeous views from the large front & rear concrete patios! Enjoy the many UPGRADES this home offers including 8’ high flat ceilings, solid wood white cabinets, stainless steel farmhouse sink, upgraded SS appliance package including a side-by-side refrigerator! 2’’ faux wood blinds throughout, 2x6 construction with upgraded insulation & architectural shingles. 1-Year Manufacturer’s warranty included! Move-in ready end of May/early June. MANUFACTURED

PRESS RELEASE

GDP DETAILS CONTINUE TO SIGNAL A STRONG ECONOMY AS NEW AND PENDING HOME SALES RISE

Key Takeaways:

Gross domestic product (GDP), adjusted for inflation, increased at a 1.6 percent seasonally adjusted annualized rate (SAAR) in Q1 2024, a deceleration from the 3.4 percent annualized growth rate in the prior quarter, according to the Bureau of Economic Analysis (BEA). While real personal consumption expenditures (PCE) remained strong at a SAAR of 2.5 percent and business fixed investment rose at a robust 4.4 percent annualized growth rate, the headline GDP number was dragged down by the volatile net exports and inventory investment categories. Real final sales to private domestic purchasers, which is the sum of private consumption and investment and is sometimes referred to as core GDP, increased at a solid 3.1 percent annualized rate. We also note that residential fixed investment surged at a 13.9 percent annualized rate as commissions increased from stronger home sales figures and single-family construction remained robust.

Personal income, adjusted for inflation, increased 0.2 percent in March, according to the BEA. Real disposable personal income was also up 0.2 percent. Real personal consumption outpaced income gains, rising 0.5 percent over the month. This pushed the saving rate down four-tenths to 3.2 percent, the lowest since October 2022. The PCE price index rose 0.3 percent over the month and 2.7 percent over the year. Core PCE prices also rose 0.3 percent in March and were up 2.8 percent compared to a year ago.

The National Association of REALTORS® Pending Home Sales Index, which records contract signings of existing homes and typically leads closed sales by one to two months, increased 3.4 percent to 78.2 in March, its highest level in a year.

New single-family home sales rose 8.8 percent to a SAAR of 693,000 in March, the fastest sales rate since September, according to the Census Bureau. However, the February figure was revised downward sharply. The months’ supply declined five-tenths to 8.3 as the faster sales pace offset the 2.6 percent rise in new homes available for sale.

Forecast Impact:

Real GDP was below consensus and our expectations, but the miss was primarily due to the volatile net exports and inventory investment categories that are less indicative of the underlying growth trend. Real PCE was in line with our forecast and both residential and business fixed investment were somewhat higher than we had expected. Socalled “core GDP” grew at a solid 3.1 percent annualized rate, which we believe is more indicative of the actual strength of the economy in Q1. We continue to believe growth is likely to slow this year as consumers return to a more typical saving rate and both businesses and consumers respond to a higher-for-longer interest rate environment.

PCE inflation was above both consensus and our expectations. Core services excluding housing, a closely watched measure of wage pressures, rose at an annualized rate of 4.8 percent. While we continue to see some easing in core price inflation this year in line with our forecast for a generally slowing economy and weaker labor demand, incoming data supports our forecast for a higher-for-longer monetary policy stance.

The rise in pending home sales presents a bit of upside risk to our near-term existing home sales forecast. Still, pending sales recorded in March occurred before rates jumped back above 7 percent, so we continue to expect a small pullback in existing sales in Q2 as the higher rates weigh on demand. On the new sales side, after revisions, the Q1 quarterly sales pace was in line with our forecast. At 8.3, the months’ supply is consistent with ongoing use of incentives, which we believe will help new homes sales rise as the year progresses.

https://www.fanniemae.com/research-and-insights/forecast/gdp-details-continue-signal-strongeconomy-new-and-pending-home-sales-rise

4 Car garage large 2G attached and 20x20 detached! 2 acres of Land fenced on 3 sides! SUPER VALUE! Great Views, and a good well! Kitchen with Granite counter tops and loads of cabinets. Master on the Main Level with large walk in closet and spacious bath. Half bath and laundry down as well. Upstairs you will find 2 huge secondary bedrooms and a full bath. Bring the Horses and Farm animals 2 flat acres great for the critters. Come see this great Buy!

PROPERTY INFORMATION:

Brand new carpet, Real Hardwood Floors, move in ready super clean home in a great location. Great Landscaping front and back, Extra large 27 ft deep garage. Large great room with gas fireplace and bay window. Spacious kitchen with real wood cabinets and a large eating area. Split floor plan for privacy. Spacious master suite with large master bath separate shower and tub and dual sinks. Laundry room with sink. A/C and heater replaced in the last 10 years. RV parking and gate. Fully fenced back yard with drip system for all the plants. See it today!

PROPERTY INFORMATION:

Real Hardwood floors and tile floors, Kitchen with granite counter tops, a farm sik, gas range and open to the great room. Master bedroom and JR suite as well as bedroom 3. Super floor plan not to mention you have a private covered patio. Super location close to everything, as well as being only a half mile walk from all the amazing amenities of Prescott lakes country club with pickle ball, extensive exercise equipment, activities plus and indoor and outdoor pool. The home also features a tankless hot water heater for unlimited long showers. Great home for a second home or for that Embrey-riddle, Yavapai College or Prescott College student of yours who needs a safe place to live! Also the unit just got a new roof in 2024!

Prescott’s Unique Selling Points: A Comprehensive Guide

Are you considering a move to Prescott, Arizona? As one of the top-rated cities in the United States, it’s no wonder that more and more people are choosing to call it home. From its stunning natural beauty to its dynamic community, Prescott offers a unique lifestyle that sets it apart from other cities. In this comprehensive guide, we’ll take a closer look at Prescott’s unique selling points, so you can see why it’s the perfect place to live, work, and play.

A CANVAS OF NATURAL BEAUTY

At the forefront of Prescott’s allure is its breathtaking natural landscape, a harmonious blend of diverse ecosystems ranging from dense forests of Ponderosa Pines to expansive prairies, striking granite boulders, serene lakes, and the endless azure of sunny skies that promise unforgettable sunsets. This picturesque setting is complemented by a variety of neighborhoods

each with its own character and charm. From the walkable streets of downtown Prescott to the vintage appeal of Mount Vernon, the secluded cabins of Ponderosa Park, to the luxury of custom-built homes and golf communities like American Ranch and Hassayampa Village, Prescott offers a spectrum of living options. Neighborhoods such as Forest Trails, Hidden Valley Ranch, and The Village further enrich the city’s residential tapestry, making the quest for the perfect home an exciting journey through diverse landscapes and lifestyles.

A PLAYGROUND FOR OUTDOOR ENTHUSIASTS

Prescott’s geographical diversity serves as a backdrop for an array of outdoor activities, making it a haven for nature lovers and adventure seekers alike. The city grants easy access to the sprawling expanse of Prescott National Forest, a playground for hiking, biking, rock climbing, and boating. Unique landmarks such as the Granite Dells, with its iconic rock formations and network of trails around Watson and Willow Lakes, offer endless exploration opportunities. Other notable natural attractions include Granite Basin, Goldwater Lake City Park, and Thumb Butte, ensuring that the call of the wild is never far from home.

FOUR SEASONS OF ENCHANTMENT

The climate in Prescott is a rare treasure, offering residents the full spectrum of seasonal experiences without the extremes. Summers are warm and inviting, reaching the high 80s but spared the scorching heat typical of the Phoenix area. Winters are mild, with daytime temperatures in the high 20s and snowfall that adds a magical touch to the landscape without overstaying its welcome. This perfect balance of weather conditions makes Prescott an ideal

setting for year-round outdoor adventures and leisure.

A RICH TAPESTRY OF HISTORY AND CULTURE

Prescott’s historic downtown is a vibrant hub of cultural heritage and entertainment. Having once served as the state capital, the city is peppered with historic buildings that date back to the late 1800s, preserving the spirit of its rich past. Whiskey Row, once the heart of Prescott’s gold rush era, now thrives as a lively strip of bars, restaurants, shops, and galleries, blending the old with the new in a celebration of the city’s pioneering spirit.

A HAVEN FOR ARTS AND EDUCATION

Beyond its historic and natural appeal, Prescott is a vibrant center for arts, culture, and education. The city is alive with festivals, concerts, and cultural events that cater to a wide range of interests. From the Central Arizona Concert Band to the Prescott Film Festival, the city’s artistic scene is both diverse and dynamic. Education is equally valued, with a variety of schools, including Prescott Unified School District and higher education institutions like Yavapai Community College and Embry-Riddle Aeronautical University, providing quality educational opportunities for all ages.

AN IDEAL LOCATION WITH FINANCIAL BENEFITS

Prescott’s strategic location in north-central Arizona offers the perfect balance of seclusion and accessibility. The city is part of the vibrant Quad Cities region and serves as a gateway to a variety of destinations, from the natural beauty of Sedona to the urban appeal of Phoenix. Additionally, Prescott’s reasonable

property and income tax rates, coupled with the absence of estate tax and taxation on social security earnings, make it an attractive option for homeowners and retirees alike.

CONCLUSION

Prescott stands as a testament to the beauty of Arizona, offering a unique blend of natural splendor, cultural richness, and a welcoming community. Its diverse neighborhoods, abundant outdoor activities, favorable climate, historical significance, vibrant arts scene, commitment to education, strategic location, and financial advantages converge to make Prescott not just a place to live, but a place to thrive. Whether you’re seeking adventure, tranquility, or a bit of both, Prescott invites you to explore its many wonders and discover why it’s not just a unique place to call home, but a treasure trove of experiences waiting to be uncovered.

Discover the enchanting world of Prescott and embark on the journey to finding your dream home in this picturesque city. Whether you’re drawn to its scenic beauty, rich history, vibrant culture, or the allure of outdoor adventures, Prescott has something special for everyone. Don’t miss out on the opportunity to explore what makes Prescott truly unique.

Contact us today at (928) 696-7000 or email peter@listingprescott.com

to learn more about the diverse living options and begin your adventure in finding the perfect home that meets all your desires in the heart of Arizona. Let’s make your dream of living in Prescott a reality!

Prescott, Arizona: Financing Your Home Purchase

in Prescott What You Need to Know

Navigating the landscape of home financing can often feel like trekking through a dense forest, full of unknowns and possibilities. Especially in a scenic locale like Prescott, Arizona, where the allure of owning a home is as captivating as the city’s natural beauty. Whether you’re a first-time homebuyer or looking to expand your investment portfolio, understanding the myriad of financing options available to you is crucial. This comprehensive guide aims to illuminate the path to securing the right financing for your dream home in Prescott, ensuring your journey is as smooth and informed as possible.

A SPECTRUM OF FINANCING OPTIONS

The world of real estate financing is vast and varied, offering a palette of options to suit different needs and circumstances. Let’s look at the most prominent financing avenues available in Prescott, ensuring you’re well-equipped to make an informed decision.

1.CONVENTIONAL LOANS: THE TRADITIONAL ROUTE

For those venturing into home ownership for the first time or seeking to purchase a primary residence, conventional loans stand out as a popular choice. These mortgage loans are facilitated by private lenders and lack government insurance. Remarkably, they offer the possibility to embark on homeownership with a minimal down payment of just 3%, making them an accessible option for many.

2.FHA LOANS: OPENING DOORS FOR MANY

Crafted with the needs of low-to-moderate income earners in mind, FHA loans are insured by the Federal Housing Administration. These loans are a beacon for individuals who find the prospect of a substantial down payment daunting, requiring as little as 3.5% down. FHA loans embody the principle of inclusivity, ensuring a broader range of individuals can pursue the dream of homeownership.

3.USDA LOANS: FOR THE RURAL HEART

The allure of rural living is undeniable, and USDA loans, backed by the United States Department of Agriculture, cater specifically to those drawn to countryside living. The most compelling aspect of USDA loans is their offer of a 0% down payment, making them an incredibly attractive option for prospective homebuyers in rural settings.

4. VA LOANS: HONORING SERVICE

Dedicated to active service members, veterans, and their families, VA loans represent a token of gratitude for their service to the country. Guaranteed by the U.S. Department of Veterans Affairs, these loans also offer the significant benefit of a 0% down payment, acknowledging the sacrifices made by military personnel.

5.BEYOND PRIMARY RESIDENCES:

DIVERSIFYING YOUR REAL ESTATE PORTFOLIO

For those considering a vacation retreat or a second home in Prescott, the financial landscape is equally accommodating. A second home can be secured with a down payment as low as 10%. Meanwhile, diving into the realm of investment properties reveals the possibility of acquisition with a 20% down payment, opening avenues for wealth generation and portfolio diversification.

THE ROAD TO HOME FINANCING

Before embarking on this significant journey, it’s essential to survey the terrain by shopping around and comparing loan offers from a variety of lenders. The terms and conditions of loans can vary widely, so finding the one that best fits your financial landscape is key. Additionally, consider getting pre-qualified for a mortgage to gain insight into your borrowing capacity.

Current loan rates in Prescott offer a snapshot of the financial climate, with a 30-year fixed loan hovering around 7.25%, a 15-year fixed loan at approximately 6.36%, and a 5-year ARM at 6.42%. It’s important to remember that these rates are subject to change, influenced by market dynamics and individual credit profiles.

EMBARKING ON YOUR JOURNEY

As you stand on the brink of making one of the most significant investments of your life, armed with knowledge and insights into the financing options at your disposal, you’re better prepared to navigate the complexities of purchasing a home in Prescott. Remember, the key to a successful home financing journey lies in thorough research, careful planning, and a clear understanding of your financial situation.

In the enchanting city of Prescott, where the promise of a home resonates with the tranquility of its surroundings, embarking on this journey is not just about acquiring property. It’s about laying

down roots in a community, building a sanctuary for yourself and your loved ones, and investing in your future. With the right financing strategy, your dream home in Prescott isn’t just a possibility— it’s within reach.

Discover the enchanting world of Prescott and embark on the journey to finding your dream home in this city. Whether you’re drawn to its scenic beauty, rich history, vibrant culture, or the allure of outdoor adventures, Prescott has something special for everyone. Don’t miss out on the opportunity to explore what makes Prescott truly unique. Contact us today at (928) 696-7000 or email peter@listingprescott.com to learn more about the diverse living options and begin your adventure in finding the perfect home that meets all your desires in the heart of Arizona. Let’s make your dream of living in Prescott a reality!

Prescott: Examining Investment Possibilities and Trends in the Second Home Market in Prescott

In the real estate market, many people have long been captivated by the idea of owning a second house. The market for second homes offers a special mix of options and problems, whether it’s for long-term investment, vacation escapes, or rental income. One place that has drawn interest lately is the charming city of Prescott, which is well-known for its breathtaking scenery, energetic neighborhood, and potential real estate market.

RECOGNIZING THE LURE OF SECOND HOMES

Second homes are not the owner’s permanent residence; they are sometimes referred to as investment properties or vacation homes. Usually, these houses are utilized for vacations, rentals, or as a possible place to retire. The

possibility of financial gain, asset diversification, and personal fulfillment are the main draws of owning a second house.

PRESCOTT: AN UNDISCOVERED TREASURE IN THE REAL ESTATE MARKET

Tucked down in the central region of Arizona, Prescott is a real estate hidden treasure. Prescott has gained popularity as a second home destination due to its variety of outdoor activities, historical history, and temperate environment. The city is the perfect place for individuals looking for a peaceful getaway because of its beautiful downtown area, historic architecture, and proximity to scenic areas like the Prescott

MARKET TRENDS IN THE SECOND HOME SECTOR IN PRESCOTT

Due to reasons like low loan rates, distant employment prospects, and a growing desire for a change of scenery, Prescott has seen a boom in demand for second homes in recent years. Property values have increased as a result of the increased demand, creating a competitive market. Despite these developments, Prescott continues to provide reasonably priced real estate when compared to other well-liked secondhome locations, which attracts both lifestyle and investment purchasers.

POSSIBILITIES FOR INVESTMENT IN PRESCOTT’S SECOND HOME MARKET

In order to profit from the Prescott second home market, investors should take into account a number of important options. Buying a home through websites like Airbnb or VRBO and renting it out for a brief period of time is one tactic to capitalize on the city’s popularity with travelers and outdoor enthusiasts. Purchasing a second property and taking advantage of Prescott’s robust rental market and expanding population is an additional choice for long-term rental income.

ADVICE FOR GETTING STARTED IN THE SECOND HOME MARKET

It’s crucial to approach the investment with careful thought and strategic planning when entering Prescott or any other location’s second home market. Here are some ideas to assist you in navigating this dynamic yet cutthroat market:

1.INVESTIGATE THE MARKET:

Before making any investment decisions, become familiar with the Prescott area’s real estate trends, property valuations, demand for rentals, and laws.

2.ESTABLISH SPECIFIC OBJECTIVES:

Establish your goals for owning a second property, including long-term appreciation, rental income, or personal usage, and then match your investment approach to achieve those goals.

3.COLLABORATE WITH REGIONAL EXPERTS:

Collaborate with financial experts, property managers, and real estate brokers with knowledge in the Prescott area to obtain insightful advice.

4.EXAMINE YOUR FINANCING OPTIONS:

Investigate several financing choices, including cash purchases, HELOCs, and mortgages, to choose the best strategy for your investment. In conclusion, Prescott’s second-home market offers both lifestyle shoppers and investors an abundance of options. You can make wellinformed judgments that support your objectives by studying market trends, investigating different investment approaches, and adhering to reliable real estate investing principles. Prescott’s charm and potential make it an appealing location in the world of second homes, whether you’re looking for a tranquil getaway, a passive income stream, or a long-term investment.

Ready to explore the exciting opportunities in Prescott’s second home market? Contact Peter Fife, your local real estate expert, to guide you through the process. Whether you’re looking for a vacation retreat, an investment property, or a rental income opportunity, Peter has the expertise to help you achieve your goals. Call 928-6967000 or email peter@listingprescott.com to start your journey toward owning a second home in the captivating city of Prescott today!

The Pulse of Prescott: A Real Estate Market Update for the First Quarter

As the first quarter of the year wraps up, the charming city of Prescott, Arizona, finds itself at the center of attention for real estate enthusiasts and potential homeowners alike. Nestled amidst the picturesque landscapes of Yavapai County, Prescott’s real estate market has displayed a series of intriguing trends and shifts, beckoning a closer look from investors and families dreaming of a life in this serene locale. This article delves deep into the heart of Prescott’s real estate dynamics, offering a detailed exposition of the current market situation. With a blend of historical charm and modern amenities, Prescott’s market trends are as captivating as the city itself. Join us as we dissect the numbers, trends, and what they signify for buyers, sellers, and observers in the bustling real estate scene of Prescott, Arizona.

CURRENT MARKET VALUATIONSP AND ACTIVITY

Prescott’s housing landscape has been a subject of considerable interest, showing a notable increase in home values over the past year. The average value of homes in this tranquil city has climbed to $590,623, marking a growth of 2.2%. This uptick is a testament to Prescott’s enduring appeal, offering both residents and investors a glimpse into the city’s robust market health.

INVENTORY AND LISTINGS

As we venture further into the intricacies of Prescott’s real estate market, the current inventory levels and new listings provide a clearer picture of the market dynamics. As of January 31, 2024, the for-sale inventory

stood at 450 properties, reflecting the diverse range of options available to potential buyers. Complementing this, the city saw 84 new listings, suggesting a steady influx of opportunities for those keen on calling Prescott home.

SALES INSIGHTS AND PRICING TRENDS

In an intriguing revelation, the median saleto-list ratio as of the end of December 2023 was recorded at 0.975. This ratio is indicative of the bargaining power in the hands of buyers, showcasing a market that is balanced yet slightly leaning towards buyers’ favor. The median sale price around this time was $585,833, closely shadowed by a median list price of $680,583 as we entered the new year. These figures underscore the competitive nature of Prescott’s market, alongside the potential for negotiation and value appreciation. Moreover, the distribution of sales over and under the list price reveals further nuances of the market. Approximately 10.6% of sales exceeded the list price, hinting at a competitive edge in certain segments of the market. Conversely, a significant 67.4% of sales concluded under the list price, indicating a prevalent buyer’s advantage in negotiating deals.

TIME ON MARKET: A MEASURE OF DEMAND

One of the critical indicators of market demand and health is the median days to pending, which stood at 49 days as of January 31, 2024.

This metric offers insight into the pace at which properties are moving from listing to pending status, highlighting the demand dynamics at play. A period of 49 days suggests a market that is active yet allows for thoughtful decisionmaking by buyers, striking a balance between urgency and deliberation.

IMPLICATIONS FOR BUYERS AND SELLERS

For potential buyers, the current state of Prescott’s real estate market presents a landscape ripe with opportunities. The relatively balanced market conditions, coupled with the ability to negotiate below list prices, create a favorable environment for those looking to invest or settle in Prescott. Sellers, on the other hand, might need to calibrate their expectations and pricing strategies, considering the competitive nature of the market and the prevailing buyer’s advantage.

NAVIGATING PRESCOTT’S REAL ESTATE LANDSCAPE

As we chart the course through the everevolving real estate market of Prescott, Arizona, the trends and figures highlighted offer a beacon for navigating the opportunities and challenges ahead. Whether you’re a seasoned investor, a family in search of a new beginning, or simply an enthusiast eager to understand the dynamics of this captivating city, Prescott’s real estate market holds the promise of discovery and potential.

As the seasons change and the first quarter of 2024 gradually unfolds, Prescott’s real estate market continues to tell a story of growth, resilience, and opportunity. In a city where the past and present converge amidst the natural beauty of the Arizona landscape, the real estate market stands as a testament to Prescott’s

enduring allure and the dreams it holds for the future.

Prescott has something unique for everyone, whether your attraction is its breathtaking scenery, fascinating history, lively culture, or the appeal of outdoor activities. Don’t pass up the chance to discover what makes Prescott genuinely exceptional. To find out more about the various living alternatives and to start your journey toward discovering the ideal house that satisfies all of your needs in the heart of Arizona, contact us now at (928) 696-7000 or send an email to peter@listingprescott.com. Together, we can make your desire to call Prescott home a reality!

Maximizing Real Estate Opportunities in Emerging Markets: Lessons from Prescott, Arizona’s Success Story

In a recent episode of The Power Is Now Real Estate TV, we had the pleasure of welcoming Peter Fife, a distinguished real estate professional from Prescott, Arizona, to our platform. With 28 years of experience under his belt and a ranking within the top 1% of realtors nationally, Peter’s insights into the Prescott market were invaluable. His journey in real estate, deeply rooted in a family legacy, and his perspectives on seizing the moment in the everevolving real estate landscape, underscored the essence of what it means to be a proactive and successful agent in today’s market.

Peter’s story is a testament to the power of perseverance and adaptability. As a third-

generation realtor, he followed in the footsteps of his family, carving out his own path in the industry. His initial career aspirations may have leaned towards education, but life’s unpredictable nature led him back to real estate. This pivot was not just a fallback plan but a calculated step into a field where he has since made significant strides. His approach to real estate is not just about transactions; it’s about understanding the pulse of the market and leveraging the moment to create opportunities for his clients and himself.

The phrase “The Power Is Now” resonates deeply with Peter, echoing the philosophy of seizing the day. This mindset has been instrumental in his approach to real estate, emphasizing the importance of being present and proactive,

regardless of market conditions. In a profession where the future is uncertain and past successes offer no guarantees, the ability to navigate the present moment, with all its challenges and opportunities, is crucial. Peter’s interpretation of this mantra as a call to action, to make the most of the opportunities available today, is a valuable lesson for professionals in any field. Peter’s journey into real estate, influenced by his family background, is a compelling narrative of legacy and resilience. Despite the initial plan to pursue a career in education, the realities of life and the need to provide for his family led him back to the realm of real estate. This decision was not just about financial necessity; it was about embracing a field with the potential for impact and growth. His story highlights the importance of adaptability and the willingness to embrace change, even when it leads you down an unexpected path.

The discussion then shifted to the allure of Prescott, Arizona, as a prime destination for real estate investment and living. Peter’s detailed account of the city’s unique charm, from its ideal climate to its vibrant community spirit, painted a picture of a place not just to invest in but to call home. Prescott’s balanced lifestyle, coupled with its safety, affordability, and community-oriented atmosphere, makes it an attractive option for retirees and families alike. Peter’s passion for the city, coupled with his deep understanding of its real estate market, underscores the importance of having a knowledgeable and dedicated realtor when navigating such a dynamic market.

One of the most captiv ating aspects of our conversation was Peter’s insight into the driving forces behind Prescott’s economy and its appeal to potential residents. The influx of Californians seeking a better quality of life, the presence of esteemed educational institutions, and the unique economic landscape of Prescott contribute to its desirability. Peter’s

detailed analysis of the local economy, from its reliance on construction, retail, and medical sectors to the impact of higher education institutions like Embry-Riddle University, provided a comprehensive overview of what makes Prescott tick. His enthusiasm for the city’s community events, especially its celebrated Christmas festivities, added a personal touch to the discussion, highlighting the warmth and welcoming nature of Prescott’s residents. As the host of The Power Is Now Real Estate TV, my conversation with Peter Fife was not only enlightening but also inspiring. His dedication to his profession, his deep-rooted connection to Prescott, and his insightful observations on the real estate market exemplify the qualities of a top-tier realtor. For anyone considering a move to Prescott or seeking to understand the nuances of its real estate market, Peter’s expertise and passion make him an invaluable resource.

In closing, our episode with Peter Fife was a reminder of the dynamic and ever-changing nature of real estate. His journey from aspiring educator to real estate maven, his approach to seizing the day, and his deep understanding of Prescott’s unique market dynamics underscore the importance of knowledge, adaptability, and passion in achieving success. For our viewers and readers seeking expert guidance in the Prescott real estate market, Peter Fife’s insights offer a roadmap to making informed decisions in this vibrant and promising region.

Navigating Market Fluctuations: Strategic Insights from Prescott, Arizona’s Real Estate Expert Peter Fife

In the preceding episode of The Power Is Now Real Estate TV’s engaging episode featuring Peter Fife, a distinguished real estate professional from Prescott, Arizona, we dived deep into his remarkable journey, the appeal of Prescott as a premier real estate destination, and the invaluable insights garnered from his 28 years of experience within the industry. As we continue on this episode, we aim to further dissect the difficulties of Prescott’s real estate market, the impact of economic drivers on property values, and Peter’s visionary approach towards fostering growth and prosperity for his clients. With a keen eye on the changing dynamics of this vibrant city, our ongoing discussion seeks to equip potential buyers, sellers, and real estate professionals with

the critical knowledge and strategies necessary to navigate the market effectively. Join us as we build upon our previous episode, offering a more comprehensive understanding of Prescott’s unique real estate landscape and the pivotal role of expert guidance in achieving real estate success.

Peter shares that Prescott, Arizona, is experiencing a unique market dynamic. In the wake of fluctuating interest rates in 2022, the Prescott real estate market saw a decline in property values—first, a 10% decrease from October to February, followed by a stabilization period, and then another 5% dip with the spike in interest rates around October. Despite these

challenges, the market has found its equilibrium, presenting a golden opportunity for investors and homebuyers alike. Peter’s advice is clear and straightforward: with the market at a low point, now is the opportune time to invest in real estate. He highlights the transient nature of the stock market and positions real estate as a more stable and rewarding investment. Going deeper into the conversation, we discuss the broader implications of the national debt and inflation on the real estate market. Peter posits that inflation, exacerbated by the United States’ $34 trillion national debt, is here to stay, making real estate an even more attractive investment. Through a historical analogy involving Juan Valdez, Peter illustrates the enduring value of real estate investment, emphasizing its superiority over other investment vehicles in terms of appreciation and return on investment. As the discussion progresses, the conversation shifts to the specifics of the Prescott market. Despite the general perception of Arizona as an affordable destination, Prescott is grappling with affordability challenges, particularly for local residents. The average active price in the market stands at around $673,000, with a significant disparity between listing prices and actual sales prices. This discrepancy underscores the importance of accurate pricing and market timing for sellers.

For buyers, Peter’s advice is clear: now is the time to act. With the potential for interest rates to fluctuate and the market’s propensity for rapid changes, sitting on the fence could mean missing out on the opportunity to secure a home at a more favorable price. His point about the historical appreciation of real estate as a hedge against inflation is particularly poignant in an era of unprecedented national debt and economic uncertainty. Real estate not only offers a tangible asset but also the potential for significant longterm gain, making it a prudent choice for those looking to invest their money wisely. Sellers, too, can glean valuable strategies from Peter’s insights. Positioning a property correctly is paramount in a market that may be perceived as shifting towards buyers. This means not only

pricing it accurately but also ensuring that it is presented in the best possible light. Peter’s emphasis on preparing a home for sale— through decluttering, making necessary repairs, and even staging—highlights the importance of first impressions in the real estate market. Sellers must recognize the value of investing in their property’s presentation to maximize their returns.

In conclusion, “The Power Is Now Real Estate TV” episode featuring Peter from Prescott, Arizona, offers a comprehensive overview of the real estate market dynamics in the area. The discussion provides valuable insights for potential buyers and sellers, highlighting the opportunities and challenges in the current market. Whether you are looking to invest, sell, or simply gain a deeper understanding of real estate, this episode serves as an essential resource for navigating the complex landscape of the real estate market.

To watch the full video, click this link to enjoy the full video: https://www.youtube.com/watch?v=EqzHydlDZg

If you’re inspired by Peter Fife’s success story and are considering exploring the vibrant real estate opportunities in Prescott, Arizona, there’s never been a better time to reach out. With his unparalleled experience, deep-rooted passion for the city, and a proven track record of success, Peter is your go-to expert for all things real estate in Prescott. Whether you’re buying, selling, or simply seeking advice on the market, Peter’s insights can guide you through the process with ease and confidence. Don’t miss out on the chance to work with one of the top realtors in the nation. Contact Peter Fife today at (928) 636-7000 or via email at peter@ listingprescott.com, and be sure to explore his wealth of resources at https://listingprescott. com/. Your journey to making informed and successful real estate decisions in Prescott starts here.

Real Estate Tv with Peter Fife | The Power Is Now Media -Part 1

Join host Eric L. Frazier MBA, and top-ranking realtor Peter Fife as they unravel the secrets of Prescott’s real estate scene. With 28 years of expertise, Peter Fife shares insights into the city’s charm, safety, and booming market. From his personal journey to the economic driving forces, this episode is a treasure trove of information for anyone curious about Prescott’s real estate landscape.

Real Estate Tv with Peter Fife | The Power Is Now Media -Part 2

In this episode part 2, Join host Eric L. Frazier MBA and Peter Fife as they unravel the secrets of Prescott’s real estate scene. With 28 years of expertise, Peter shares insights on market trends, safety, and the city’s unique charm. Whether you’re a buyer or seller, this episode is packed with valuable advice and information.

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