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Median home prices are also a lot lower than in nearby Sedona - about $325,000 in Flagstaff, she said, which is roughly the Sedona entry price. For example, in Mountain Home (population 11,100), tucked deep into the Ozark Mountains, second homes made up only 10 percent of the market three to five years ago, but today it's 15 to 20 percent, said Rodney Wagner, the principal broker and owner of the Mountain Home Real Estate Company.

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Water, Water Anywhere