INSIDE THE APRIL 2022 ISSUE: Manufactured Homes Going Fast p. 3 Bronze Sculptor Celebrated p. 4 Colleen Biggs Helps Women Lead p. 8
Preparing for Space Exploration on Babbitt Ranches p. 10 Businesses Support Red Rock Trails p. 13 Sedona Honors Actress Mariette Hartley p. 14
Housing Market Expected to Remain Strong for Years Millennials, investors and a lack of inventory are driving demand as interest rates rise By Bonnie Stevens, QCBN
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rizona’s real estate market remains “ridiculously hot,” says Arizona Association of REALTORS President Gary Nelson. “We are seeing tremendous increases in home
values in the last two years, increasing about 25% year over year in localized markets and about a 12% to 13% per year increase in median home prices.” A lack of inventory, Millennials and investors are playing a huge role in the home-buying frenzy, say the experts,
especially in scenic, tourism destinations. Prescott, Sedona, Flagstaff and parts of Scottsdale are experiencing the biggest spike in the cost of homes, says Nelson, a longtime realtor and delegated-associate broker with Realty Executives in Flagstaff. He describes a typical real estate scenario like this: “A property recently listed in Flagstaff was
built in 1975. It was a three-bedroom, two-bath, two-car garage, singlelevel house, nicely updated, 1,740 square feet. It comes on the market at $650,000. There were 11 showings and seven offers with bidding up over $800,000.” Better Homes and Gardens Real Estate Bloomtree Realty CEO Nick Continued on page 37
Hybrid, Electric Vehicles Growing in Popularity By Stan Bindell, QCBN
A General Manager Jamaal McCoy showcases a popular hybrid model available at Findlay Toyota Prescott. Photo by Stan Bindell
April 2022 | Issue 4 Volume 10
s the price of gasoline continues to rise, sales for hybrid and electric vehicles are increasing at Findlay Toyota in both Flagstaff and Prescott. Brian Landauer, general manager of Findlay Toyota Flagstaff, says Toyota is the world leader of hybrid and electric vehicles, as Toyota invented the first generation Prius. Landauer said hybrids are more popular than fully electric cars because drivers worry about running out of power on long trips. With a hybrid, he says drivers can go from Flagstaff to Los Angeles and back without having to charge their batteries. When hybrid vehicles get low on battery power, the vehicle automati-
cally switches over to gas. “The vehicle does it all on its own. Most customers never feel the system working. You just plug it in and go,” he said. New hybrid vehicles also are less expensive than they used to be, ranging from about $24,000 to $40,000. In 2021, Toyota sold 2.5 million hybrid or electric vehicles; 17 million since they became available. Drivers like them because they save money on gas and have less of an environmental impact. Hybrid models available at Toyota include the Prius, Corolla, Camry, RAV4 and Highlander. Within a year, Toyota expects more hybrids, including the Tundra, the first full-sized SUV Sequoia hybrid and the sporty bZ4X. “We are focusing on the hybrids until the battery issues are worked out,” he said.
Currently, batteries are guaranteed for 125,000 miles. Landauer says he expects electric vehicles will be more practical for long-range driving in about five years as technology improves. Like many businesses, Toyota’s production of electric and hybrid vehicles has had inventory challenges during the pandemic as production slowed 20% to 30%. However, the number of charging stations for electric vehicles is increasing. So far, hybrids and electric vehicles make up less than 3% of the global market. “It is a relatively new technology,” he said, adding that electric and hybrid vehicles are about the same mechanically as other vehicles, although the brake pads and rotors last longer in Continued on page 39
