Pinetop White Mountain Blog

Good Morning Everyone,

I hope everyone had a wonderful 4th of July weekend.  There were certainly a lot of people in the White Mountains enjoying our gorgeous weather and the multitude of Holiday Activities.  Most probably headed for home yesterday although I know a few were going to stick around for a few extra days.

It was pretty quiet on the Real Estate front through the weekend.  Not really that unusual though.  People who come to the mountains for the Holiday come to play, not look at property.  What is does do though is put many in the mood to consider buying a home in our area for their summer or winter getaways.  I can understand it since that is how we came to make the White Mountains our year around home.  A short visit sold us on the area 10 years ago.  We've made the area our home for the past 8.

Why should you consider buying now?  It is really fairly simple; affordability, many properties to choose from, & great interest rates.  All combined those three alone should make purchasing a home in the White Mountain very appealing.  The market is just bursting with nice properties at prices we haven't seen since the early 2000's. 

Even the luxury communities are much more affordable right now.   Are you looking for that log or cedar sided cabin with granite counters, wood floors, and vaulted Knotty pine ceilings in a nice community?  We have them, many of them, and a prices that you won't believe.

There are some Foreclosures and Short Sales in our market, but most of the homes being offered today are by conventional sellers who either want or need to sell.  It isn't because they can't pay for it or that it has become a burden to them, it probably has to do with relocation for work or perhaps health issues that have forced them to give up their mountain getaway.  

So my question is, what are you waiting for?  Are you hoping that dream house you have been waiting for is going to drop in price? Maybe it will, or maybe someone else wants it just as bad and they will buy it tomorrow.  

Here are some facts.  Interest rates are artificially low right now and they probably aren't going to stay that way indefinitely.  Soon those rates are going to start climbing and when that happens affordability drops.  Increasing down payment requirements and higher mortgage insurance premiums are already making payments higher than they were just a couple of months ago.  Financial reform is going to make mortgage choices more limited and the cost of money is going to continue to go up.  

The tax credits that spurred many to action in the past year are gone now and while there is speculation that they may come back, only time will determine that.  

Prices may continue to fall for a while yet but eventually they are going to start to climb again.  When you combine that with higher interest rates this window of opportunity is starting to shrink. Right now prices are about where they would have been had normal appreciation factors been at work.  The sharp increase in values and the sharp plunges were not normal.  We are slowing returning to a more normal Real Estate market. 

If you would like information on properties in your price range.  Contact me, let me know what you are looking for and how I can help.  My phone is always on and my email is waiting to hear from you.  I know my market and I know the properties that are out there and I can help you find what you are looking for.  Just call!

Have a great week everyone.  I'll be standing by waiting to hear from you.

Sandra Paulow, AB, GRI, SFR --- (928) 242-0300