Forbes Magazine’s Take on the Rising Housing Market

With home prices rising every year, a question on many people’s minds has been, “Are we headed for another housing market crash?” For anyone who was affected by the last crash, or nearly escaped its clutches, this is a very real concern and question to be asking when we see prices rising the way they are.

However, while from the outside looking in it may appear as though things are escalating in a very similar fashion as they did ten years ago, when you look at the numbers and statistics comparatively, they are a lot different. The overall housing market is actually in a much better state than it has been in awhile and it is far better than it was when the crash occurred last time.

Recently we came across an article in Forbes magazine that will help explain the current housing situation further and perhaps ease some of the concerns we’ve all been having with this rising housing market.

Click here to read the article on forbes.com titled “Mortgage Debt Nears A Pre-Crash High, But That’s No Cause For Concern.”

Acker Night 2018!

Acker Night is TONIGHT and we are so excited!

For those who are not from Prescott and do not know what Acker Night is, here is a bit of history:

Acker Night is an event that was created to fulfill the wishes of Prescott resident and patron James S. Acker. Living from 1865 to 1955, James S. Acker stated, “All the residue of my estate… I give to the City of Prescott to be used for parks and for promotion of music, particularly for children.”

When Mr. Acker died in 1955, he wanted much of his estate to go towards supporting and promoting music with the youth, which is where Acker Night comes from and why it was created.

Not only did he donate his estate for music, but he also donated a good number of parcels of land he owned to the City of Prescott to be used for parks. Today, from his generosity, we have Acker Park, an 80 acre parcel of natural parkland near the downtown Prescott area. The park includes a one mile loop trail, picnic areas, restrooms with a mural on the outside of the building depicting the history of the land and the nature there, mosaic art walls, an amphitheater, geocaching spots, and more!

Due to Mr. Acker’s generosity – and to fulfill his wishes – we now have Acker Park and one of our favorite Prescott Christmas events; Acker Night!

From 5:30 to 8:30 tonight Acker Night will take place, an event produced solely by volunteers. A tradition continuing for thirty years now, there will be over 500 performers dispersed throughout the downtown area to sing, play instruments, and raise money for music programs and instruments for the youth in Prescott. Nearly every shop in the downtown area will have someone performing accompanied by complimentary hot cocoa, apple cider, and goodies to eat that they kindly provide free of charge for our delight.

You do not want to miss out on this time honored tradition that has such a beautiful history behind it. The courthouse will be lit up, there will be carolers and performers everywhere gracing us with their musical talents, there will be dancers performing in the streets, and do we need to mention the hot beverages and treats again? Bring your friends and family, and enjoy the show!

BUT, don’t forget your layers because after 5PM the temperature will drop below 50 degrees and will be almost below 40 degrees by 8PM! Grab that winter scarf, put on those wool socks and ear muffs, and snuggle up in your coziest jacket. Grip a complimentary hot beverage to warm your belly as you walk around engulfed in music and joy, and take in the Christmas season festivities.

Happy Acker Night to you all! Stay warm!

Should Flood Insurance be government funded?

On the list of interesting articles this week on Prescott Area Association of Realtors news was an article on The Hill, a blog that talks about recent news and things going on around the world. This particular article titled, “Reauthorization of National Flood Insurance Program should be priority during the lame duck,” posed the question of whether or not National Flood Insurance should get reauthorized as it expires at the end of this month.

The term used in the article’s title, “lame duck,” is a called lame duck session in regards to the Congress and it is when Congress meets after its successor is elected, but before the successor’s term actually begins. What the National Association of Realtors and many individual Realtors across that nation believe should happen during this meeting is for the National Flood Insurance to get reauthorized.

The article goes on to point out that flooding is one of the most common disasters in the United States. Every year flooding effects people nationwide in both coastal and inland locations, adding up to about 22,000 communities across the country.

However, does this mean that flood insurance should be a government funded endeavor? While there are arguments for both sides – flooding is something you cannot control and it is the government’s duty to help those whose lives are ripped apart by it VS. many people knowingly buy/build in a flood plain area or a place known to be prone to flooding and it is their responsibility to therefore pay for their own flood insurance – it is certainly not an issue to get brushed aside lightly as there would be repercussions in either decision.

CLICK HERE to read the article and comment below to share your thoughts. We’d love to know how you feel about whether or not flood insurance is a government responsibility, or an individual one.

Hanukkah!

Yesterday, December 2nd, began the Jewish Holiday of Hanukkah. Hanukkah is a Jewish festival that last eight days, beings on the 25th of Kislev on the Hebrew calendar, usually falls in November or December, and commemorates the rededication of the Second Temple in Jerusalem during the second century B.C.

The word Hanukkah means “dedication” in Hebrew and, according to history, it is when the Jews rose up against their Greek-Syrian oppressors in the Maccabean Revolt. As many know the object/symbol of the Menorah, the holiday is often called the Festival of Lights and is celebrated by lighting this object, as well as participating in eating traditional foods and games, and exchanging gifts.

Here is an account of the Hanukkah story and history from History.com:

“The events that inspired the Hanukkah holiday took place during a particularly turbulent phase of Jewish history. Around 200 B.C., Judea—also known as the Land of Israel—came under the control of Antiochus III, the Seleucid king of Syria, who allowed the Jews who lived there to continue practicing their religion. His son, Antiochus IV Epiphanes, proved less benevolent: Ancient sources recount that he outlawed the Jewish religion and ordered the Jews to worship Greek gods. In 168 B.C., his soldiers descended upon Jerusalem, massacring thousands of people and desecrating the city’s holy Second Temple by erecting an altar to Zeus and sacrificing pigs within its sacred walls. Led by the Jewish priest Mattathias and his five sons, a large-scale rebellion broke out against Antiochus and the Seleucid monarchy. When Matthathias died in 166 B.C., his son Judah, known as Judah Maccabee (“the Hammer”), took the helm; within two years the Jews had successfully driven the Syrians out of Jerusalem, relying largely on guerilla warfare tactics. Judah called on his followers to cleanse the Second Temple, rebuild its altar and light its menorah—the gold candelabrum that’s seven branches represented knowledge and creation and were meant to be kept burning every night. According to the Talmud, one of Judaism’s most central texts, Judah Maccabee and the other Jews who took part in the rededication of the Second Temple witnessed what they believed to be a miracle. Even though there was only enough untainted olive oil to keep the menorah’s candles burning for a single day, the flames continued flickering for eight nights, leaving them time to find a fresh supply. This wondrous event inspired the Jewish sages to proclaim a yearly eight-day festival. (The first Book of the Maccabees tells another version of the story, describing an eight-day celebration that followed the rededication but making no reference to the miracle of the oil).”

Some Hanukkah traditions include lighting a new branch of the menorah for every passing day of the eight day holiday and reciting blessings during the lighting, having your menorah displayed in the window for all to see and remember the miracle of the holiday; playing with dreidels, having all your foods fried in oil, and exchanging gifts.

Happy Hanukkah to all our friends out there who celebrate! We hope you have an amazing and blessed holiday!