Pinetop White Mountain Blog

Good Morning Everyone!

I know there are a lot of buyers out there who are sitting on the fence waiting until prices come down more. My question is, how low do you honestly think prices are going to go before they hit bottom?  Do you really think prices are going to drop back to pre-2002 levels?  That just isn't going to happen.  Even foreclosure properties are not going to fall that far, they  can't, there is just too much owed against them for that to happen.  Banks may be willing to take a small loss on their holdings but they aren't going to give them away even if they take several years for them to sell.  They have already lost money on them, the loans are in default. It isn't going to hurt them any more to wait longer to sell them than to sell them today at a major loss.  They will just sit on them until the prices start back up again and perhaps at a later time they may recoup their losses and even make a little profit too. 

The time for fence sitting is drawing to a close.  Interest rates are already creeping up and the longer you wait the less opportunity you are going to have to buy at today's lower prices.  That "watch" house you have had your eye on might just be out of reach before long.  

No matter what you are hearing on the evening news or reading in the newspapers, real estate is still a good investment.  Right now it perhaps the best opportunity you are even going to have to buy a property at a reasonable price.  Slowly but surely, homes are selling and the best buys are really moving quite quickly.  It may not seem like it, but it is happening and it won't be long before that house you have had your eye on will be gone.  Don't wait! Sit down, figure out what you can afford, and make the offer.  If you wait much longer, you are bound to be disappointed.

WHEN YOU ARE READY TO MAKE THAT MOVE, KEEP US IN MIND! REMEMBER ----- "WE WORK FOR YOU!"-----

Have a wonderful day.

SANDRA & BRUCE PAULOW, REALTORS®