As currently zoned, the City's residential land will support a population of about 16,300. By 2020, residential lands will be 80% built out
Sedona, AZ (PRWEB) May 5, 2010
Sedona Arizona's real estate scene is experiencing a remarkable availability and generational switch. At issue is a steadily decreasing inventory of available land in Sedona. Perhaps because Russ Lyon Sotheby's International Realty of Sedona, has addressed these issues on their website, tech-savvy Gen X buyers are aware of this shifting Sedona market trend and have set their sights on the natural beauty of red rock country as their hip, new playground. Image-conscious Gen X buyers are attracted to the Sotheby's name. This is happily noted by local Russ Lyon Sotheby's real estate professional, Elisa Andreis of SedonaFineHome.com. As one of a limited number of Gen X'ers in realty, Elisa finds that the majority of her clients today are members of her age group. This comes as no surprise to Matthew Ferrara (CEO and marketing consultant to the real estate industry) of Matthew Ferrara & Co. who recently stated to a nationwide audience, "...the average first-time home buyer last year was nearly 24 years younger than the average real estate professional".
In the past, Sedona was mainly a destination for retirees who gazed at the red rocks from the comfort of their living rooms and patios. Sedona's sunny, temperate weather appealed to them as an escape from other regions' climate extremes, in this country and around the world. Potential home buyers idled over the morning paper, looking through small-print type for Sedona real estate listings that interested them. They "hired" a real estate agent to guide them through agent-selected properties. These generations enjoyed technical innovations that included long-distance telephones and snail mail. Sedona seemed destined to remain the retirees' relaxation destination. Good-paying jobs were few, and commutes were long.
Today in Sedona, many potential real estate investors are young, trendy and athletic. These new buyers belong to Generation X. Ms. Andreis states, "65% of my own sales this last 12 months were to Gen X". Sedona is ideally suited to this group of image-centric contemporaries who values family life more than work. The community feels safe. The scenery is beautiful. The restaurants and cafes appeal to this smart generation, as do resident artists who contribute a bohemian touch. A sophisticated, international spirit adds to this ambience. There are many local cultural events that invite community participation.
Along with nearby Grand Canyon, Sedona remains one of those places everyone wants to see. Although Gen X'ers come to Sedona for its upmarket reputation, the members of this modern generation stay, to dwell in the quality lifestyle that Sedona affords. This age group, connected to Internet access, can commonly work anywhere. Additionally, the temperate climate that drew former generations also appeals to Gen X'ers. The fitness-minded enjoy outdoor sports (hiking, biking and running) nearly every day of the year.
In the real estate trade, Gen X'ers are often viewed as "info junkies" who want a service provider who will assist them through the real estate sales process. They have, most likely, thoroughly researched Sedona properties via websites, YouTube videos, or through some form of social networking. These highly educated buyers expect their real estate professional to be equally tech-savvy. Owner/Broker, Todd Gillenwater of Sedona's Russ Lyon Sotheby’s International Realty promotes this trend throughout his office. In his words , "Gen X is emerging as a real factor in the Sedona residential market. As this generation enters its prime earning years, the exponential advances in technology over the last decade also allow for increased latitude in lifestyle and location choices."
There are several reasons to acquire a Sedona dream home at this time. According to April 2010 statistics just released to the public by the City of Sedona: "As currently zoned, the City's residential land will support a population of about 16,300. By 2020, residential lands will be 80% built out; commercial lands will be 98% built out." Considering that Sedona is an "island", completely surrounded by federally protected National Forests, expansion seems unlikely. So far, thoughtful stewardship of land and building codes have protected Sedona from misguided over-development. Trends suggest that Gen X'ers will likely support this tradition. Today, Sedona remains one of the most beautiful locations on Earth. For the fortunate, living in this northern Arizona paradise continues to offer an exclusive life experience like few others. As Sedona becomes a permanent address of choice for many Gen X buyers, inventories of homes and land will eventually be consumed.