Pinetop White Mountain Blog

Good Afternoon,

I was thinking today about an article I read in a Real Estate Publication about all of the people who would like to buy a home but have been waiting and waiting for things to hit bottom.  What is going to happen to them when things really start moving again?  Are they going to be sitting around two years from now lamenting the fact that they waited too long to buy and they missed those good buys that are on the market right now?

Well folks, the fact is that if you want to get a bargain, now is the time.  Property is really starting move again, at least here in the White Mountains, and that home you have had your eye on all winter may already be gone.  I have been watching the sales increase significantly in our area over the last couple of weeks.  In Mid-March there were only about 60 properties pending sale in our area.  Today there are over 95!  I sent a property out to a prospective buyer yesterday and today that property is pending.  

For First Time Homebuyers there has never been a better time for you to get in to the market.  Interest rates are outstanding and with the $8000 tax credit for First Time Buyers - the timing for you to buy is right now!  Talk to a lender and find out how this will benefit you in 2009.  Time is limited on this credit, it is only good for purchases made after Jan. 1, 2009 and will expire in December.  You might find it could benefit you greatly as will the FHA Loan Programs available with as little as 3.5% down.  So get moving, don't wait or you could miss out.

For those of you who must depend on conventional financing, it is still available.  If you have reasonable credit and some cash to put in to the purchase, a secure position in your employment, you can get a loan.  No matter what the media says, don't believe it!  There is money available so get in touch with your favorite lender today and see what you can do.  Then get out there and start looking. 

Property is moving again and if the inventory starts to drop, prices are going to start creeping up again.  Already we are seeing that starting to happen in our market in anticpation of the summer buying season.  If you move quickly you may be able to get in to a nice property at a good price.  If you wait, you may miss out because someone else moved quicker than you did.

Real Estate is always a good investment in your future.  You may not see the huge returns that we saw in 2005 but that was an abberition, not a normal market.  An 86% increase in one year is not normal and it isn't going to happen again any time soon.  But even so, if you invest wisely now, you will see a good return on your investment in a few years.  Prices may continue a downhill slide for a while yet but it is slowing.  Many of those REO's and Short Sales are disappearing from the market either through sales or owners are finding a way to keep them.  Once that market stabalizes, prices are going to follow suit. 

My point today is to encourage you to get out there is you have been thinking about buying because now is the time.  If you wait much longer the only properties left that are at low prices are going to be the ones that no one wants because they need so much work.  Right now you can still find some decent buys out there at good prices and not just REO properties either.  Motivated sellers are priced well too and those homes are often the better buys.

If you would like to know more about our market feel free to contact us.  We will be happy to provide more information to you or help you with your search. 

- - - Remember our motto - - -

"WE WORK FOR YOU!"

SANDRA PAULOW, ASSOCIATE BROKER, GRI

BRUCE PAULOW, SALES ASSOCIATE, GRI

Your High Country REALTORS®