INSIDE THE NOVEMBER 2023 ISSUE: Findlay Hyundai Supporting Future Mechanics p.3 Physician Seeks Solutions for Impoverished Patients and MS p. 4 Arizona’s Christmas City Soon to Be Aglow p. 14
Business is Blooming for Chino Valley’s Candice Cuff p. 15 La Posada Owners Recover Legendary Navajo Rug p. 19 Yavapai College Adds Nursing Bachelor’s Degree p. 26
One Hundred Chairs Owners on the Edge of Their Seats with Holiday Excitement I
By Bonnie Stevens, QCBN
t’s November and Annie Sharp and Holly Jones could not be more thrilled. “We love the holiday season – it’s just fun!” said Jones. “We love to be a part of other
people’s celebrations!” added Sharp. After a vintage and specialized wedding- and event-packed September and October, the celebratory momentum at One Hundred Chairs has made a sharp turn toward candy cane lane, where visions of sugar
plums, gingerbread and icicles first dance in their heads and then into local businesses and homes. “Our focus right now is on holiday installations, corporate events, and small, elegant dinner parties,” said Jones.
The Prescott sisters bought the vintage-inspired wedding and event rentals company six years ago and have since then tripled their business and added five part-time jobs. They specialize in boutique and unique furniture and décor and have a nearly
Continued on page 35
Real Estate Values Climb Steadily as Market Struggles for Balance
H Prescott Area Association of Realtors President-Elect Jeanelle Shearer, President Faye Humphrey and Chief Executive Officer Suzanne Westrum accept the Community Service Award from the Arizona REALTORS on Thursday, Oct. 19, in Litchfield Park. See story on page 28 Courtesy photo
November 2023 | Issue 11 Volume 11
By Bonnie Stevens, QCBN
ome prices continue to rise, inventory continues to fall short of a balanced market, and the interest rate on a standard 30-year mortgage is hovering around 7.8%. Prescott Area Association of Realtors President and KMF Real Estate Broker/Owner Faye Humphrey says the Quad Cities remains a seller’s market, but she says, “It’s always a great time to buy the right real estate.” For those who remember interest rates of the 1980s in the high teens, 7.8% looks pretty good. But compared to just a few years ago, the rate has tripled. For Humphrey, who has owned her house for five years and refinanced it three times to reach the historic low interest rate of 2.25%, her philosophy is: “Marry the house; date the rate.” “When the rates come down, and they do, there will come a time when you will be able to refinance,” she said. Humphrey also acknowledges that houses in
desirable areas like the Quad Cities are expensive. The average list price in September 2022 was $632,000. Today, it is $701,000, up about 11% year over year. “That makes me want to choke,” she said. “We have fewer sales today than we did a year ago because money is tight, but value seems to keep going up. Buyers need to shop harder and smarter.” With just 1,097 residential homes currently available in Yavapai County, down about 20 from this time last year, the real estate market has more than three months of inventory. Six months of inventory, says Humphrey, would be considered a balanced market. “We are much closer to a balanced, normal market than we’ve been in a long time,” she said, “but we are still in a seller’s market; however, not the frenetic kind of seller’s market we were in one or two years ago.” For sellers, that means pricing the home based on comparable sales and expecting the Continued on page 28
Join our Newsletter!
Subscribe to the Quad Cities Business News monthly e-Newsletter to receive highlights on the latest developments in business, education and health care
Go to www.QuadCitiesBusinessNews.com today!