Pinetop White Mountain Blog

Hello Everyone,

Well, 2009 has been one challenging year in the Real Estate world. Between the Banks making lending difficult, the huge volume of inventory of homes on the market, and the Foreclosures & Short Sales, this has been a year of new experiences in the Real Estate world. Buyers were pretty scarce for most of the year and then when they did venture in to take a look it was hard for them to understand why our prices in the White Mountains hadn’t fallen to the levels they had in the larger metro areas. While we have had some Foreclosures and Short Sales in our market, we have not had the shear volume of them that there have been in the larger cities. Sellers have remained strong in determination not to let the Foreclosures and the Short Sales destroy values in our community. As a result, sales this year have been slow in coming with buyers reluctant to commit because they were convinced prices would fall more in the future. All in all we in the Real Estate Business have faced challenges that many of us have not encountered before. If nothing else can be said for 2009, it was an educational experience for us all.

For all outward appearances it looks like property values are stabilizing a bit and the number of homes on the market has dropped. Whether this is a result of the winter season and sellers deciding not to keep the homes on the market through the winter or because individual circumstances are improving making it less critical that the home be sold remains to be seen. We quite often see a drop in inventory during the winter months because there is a common misconception that nothing sells in the wintertime. That really isn’t true for our market as a whole. The summer buyers are gone certainly but there are still many people who are looking for a retirement home or are planning to move here, and let’s not forget those First Time Buyers out there who are still hoping to get in on the $8000 tax credit offered through the Federal Government that has been extended until April 2010.

We also have the $6500 tax credit for people who are looking for a different home in this market. That is a real goodie if you are looking to retire or move to this area. If you have sold your home and need a place to live, it’s a great time to get back in the market and start looking again. It is limited to Primary Residences so it won’t help the Second or Summer Home Buyer, but if you are thinking of a move to the area, it is a great incentive to get that house sold where you are and make the move now.

So the conclusion here is that not all is bleak and dark. There is a glimmer of hope in the Real Estate world because everyone in this industry and it’s related industries have learned a lot in 2009. The Banks are finally getting a handle on how to handle the Foreclosures and Short Sales. We as agents have learned how to cut through some of the red tape to get things done, and overall, I do see things improving some in 2010.

Bruce will be acting as my Assistant next year and will not be actively licensed. But he will still be around to help hang those signs, put on those key-safes, find those corner pins, or do any multitude of tasks associated with the Listing and Sale of Real Estate.

If you or someone you know is thinking about Real Estate in the White Mountains, we are always happy to work with them. We love those referrals.

As Always,

We are at your Service

Sandra Paulow, Associate Broker, GRI

Your High Country REALTOR®

(928) 242-0300

Email: spaulow.realestate@gmail.com or sbpaulow@frontiernet.net

Website: www.whtemtnsazrealestate.com

Bruce Paulow, Assistant, GRI

(928) 242-0315