Sedona’s Cathedral Rock-“8th Wonder of the World”?

Sedona to have the “8th Wonder of the World”?Sedona Arizona

Yes it’s true…Cathedral Rock is in the running to become the “8th Wonder of the World”.
Inspired by the newly developed 8th Wonder of the World contest created by Virtual Tourist, The Sedona Chamber of Commerce asked our 30,000 Visit Sedona Facebook fans “What are the 7 Wonders of Sedona?” Below are the complied results in order of popularity:

  1. Cathedral Rock
  2. Boynton Canyon
  3. Bell Rock
  4. Slide Rock  State Park
  5. Devil’s  Bridge
  6. Palatki  Heritage Site
  7. West  Fork Trail

As you can see from the results above, our fans, visitors and locals alike choose Sedona’s Cathedral Rock as the #1 most iconic spot in Sedona, Arizona. We therefore nominated Cathedral Rock into the running to become the 8th Wonder of the World. It seems obvious that with vivid crimson spires and copper sandstone monoliths, Cathedral Rock was a perfect nomination choice.

Official voting is now open until September 30, 2013; and Cathedral Rock is listed as one of the 324 locations around the world. Although Sedona is small, sometimes considered to be a hidden gem, we know we can count on the support of locals and national/international visitors who have marveled at the beauty and majesty of Sedona’s Cathedral Rock. Ideal for a romantic hike, a family adventure, a photographer’s greatest ally or thrill seeking adrenaline junkies; Cathedral Rock has something to offer all ages and interests.

We hope we can count on your VOTE for Cathedral Rock as the 8th Wonder of the World. You can vote every day until September 30, 2013!

Reprinted courtesy of the Sedona Chamber of Commerce.

Home Prices & Mortgage Rates

Home Prices and the effect of Mortgage RatesHome Prices

Will the recent rise in mortgage interest rates have an effect on the housing market? Well the answer may surprise you. No. There is NO inverse correlation between interest rates and home prices. Historically housing prices have gone up when interest rates increased and they have gone up when interest rates were cut.

Let’s look at some of the scenarios.  According to Michael Orr, Cromford Report, from 1989 to 1991 home prices fell about 10%, but during this same period mortgage interest rates fell from about 10% to 8.5%. Between June 2006 and Aug 2011 home prices spiraled downward while interest rates dropped from about 6.75% to 4.5%.  In both of these situations, prices dropped just as interest rates fell.

The only time we see a fall in home prices is when supply outstrips demand. What do you know? In this complicated world we live in there are still some tried and true facts …it’s all about supply and demand.

From August 2011 to June 2013 interest rates have been down to about 3.5 to 4%. Home prices have seen a strong increase during this time period but the demand for homes is just up slightly.  In other words, the very attractive interest rates did not bring a huge influx of buyers into the market…demand was up a little bit, but not a lot. What drove home prices up? The lack of supply in relation to demand.

So what effect will the rise in mortgage rates have on the housing market? Well believe it or not, it will create a sense of urgency and we could see more home buyers/sellers enter the market before it rises any higher.  We have seen it happen many times before. So if you are thinking of selling, this is a great time to get into the market…there will still be plenty of buyers out there.

New Restaurants-Glendale Arizona

New Restaurants Coming to Glendale, Arizona

Glendale will be home to a new restaurants this summer.  One of the most anticipated openings is Oreganos.  Oreganos is new to the West Valley, opening in August 2013 at 6738 W. Bell Rd. (at the former location of Joey’s of Chicago)

The Italian eatery serves Chicago-style thin crust pizza, stuffed and pan pizzas, salads and pastas. For more information visit Oreganos.

Surprise is home to another new and exciting restaurant, Pinoy’s Bistro. Pinoy’s which opened in May 2013 in Surprise Arizona-just west of Glendale, serves Filipino and American Food. Currently they serve 4 kinds of noodles and jasmine rice in a Filipino style, beef, chicken and pork as well as some American fare of burgers, sandwiches, salads and even pancakes! Filipino food is sweet and salty and not too spicy.

Jonathon Torrato, owner of Pinoy’s Bistro is from llo llo in the Philippines. Four years ago his wife suggested they move to the United States for more opportunities. They settled in Surprise because of the large Filipino community. A year ago he opened up Pinoy’s  Best Gourmet Coffee in Arrowhead Towne Center. Pinoy’s Bistro opened May 8th in Surprise and it did not take long for word of mouth to spread throughout the community.

Torrato has plans to have live music on the weekends and eventually to add outdoor seating and Filipino barbeque..delicious meet on skewers.

Check back often for some great new West Valley restaurants. On a personal note I have had some great Filipino food when I lived in NY and I can’t wait to try Pinoy’s!  Pinoys Bistro