Pinetop White Mountain Blog

Good Morning Everyone,

Well April has shown us that there are still buyers out there looking for homes in the White Mountains.  Sales have been pretty brisk at least at the lower end of the spectrum.  Buyers are still looking for the bargains and the foreclosures but the foreclosures are getting fewer and they are not quite as much a dominating factor as they have been for the past couple of years.

There is still a bit of an obstacle to a true market recovery though.  Buyers are still bargain hunting and sellers persist in clinging to the hope that there is that one buyer out there who loves their property enough to meet their price.  Fair Market Value in today's market is what a buyer is willing to pay for a property.  It is not a perceived value that the seller feels they must get for their property in order to sell it. I work with both Buyers and Sellers and I can tell you that the Buyers feel that if they can't buy for at least 5 to 10% below the asking price, they will move on and keep making offers until they find the one Seller who wants to sell bad enough to accept what they are willing to pay. 

Many a Seller has been disappointed when they had a Buyer who wanted their property enough to make an offer for it, only to have that buyer move on down the road because the Seller was unwilling to accept the offered price on their property.  Sellers need to be aware that it doesn't matter what happened last week, last month, or last year, to another property in the neighborhood.  It is a Buyer's market, they know it, and they are taking full advantage of it. 

The point I am getting to is that a Buyer in hand is worth a dozen more that you think might be out there.  The first offer is often the best offer and in truth, it may be the only offer you are going to get.  It is better to work with that buyer and see if you can't reach a happy medium than to be stubborn about your price only to watch them walk away. 

Buyers in today's market are very uncompromising.  They know they have the upper hand and they are using it to their advantage.  Holding out hope is perhaps an effort in futility even if you don't have to sell.  There is no assurance that things will be better in six months, a year, or even many years.  The market is not going to recover quickly and right now prices are still declining.  Sometimes it is better to take what you can get than to wait because the next offer is probably going to be the same or lower than the one you have in hand.  It is a hard pill to swallow but it is fact.  A Buyer in Hand is worth a Dozen more you Hope are out there. 

Have a good week.  If I can answer any questions or assist you in your search for property, give me a call.  Until next time....

Sandra Paulow, Associate Broker, GRI, SFR, REALTOR®  (928) 242-0300