Pinetop White Mountain Blog

Good Afternoon Everyone,

Okay, it's winter.  There are mounds of dirty snow in front of every home and it sure doesn't contribute to curb appeal.  Of course every house looks the same way but what can you do to make your home attractive?

1) Make sure your walkway is shoveled and the driveway is clear for agents to park for showing your property.

2) Invest in a box of slip on paper slippers to protect your flooring from snow and mud.

3) Place a pot of Greenery next to the front door.  A small standing pot with a dwarf evergreen is always a nice welcoming touch.

4) Inside the home, brighten up the interior with brightly colored throw pillows and rugs.

5) Keep the heat on at least at a low setting even if the house is vacant so the home is not frigid inside.  Buyers looking in the winter months are looking for coziness,  and a cold house can deter them from spending much time in the home to look because it is uncomfortable. 

6) Even minimal staging can sell a home.  Vacant homes look bare and a couple of colorful bowls on the counters and some towels in the bath will soften the effect of the vacancy.

7) Shovel off the back decks and patios that are under cover so the buyers can access the back yard to see the space and appreciate the area. 

8) If you are still living in the home, reduce clutter.  Start your packing now and remove valuables and collectibles to allow the buyer to see their things in your home.  Take down the family photos and other memorabilia so the buyer can picture their own family photos in their place.

Winter is a difficult time to sell homes because snow and ice can make showing property quite a challenge.  Just keeping driveways and walkways clear of snow helps to give the impression of pride and an impression that you care enough to make your home accessible even in bad weather. 

Happy Selling, I hope you found these tips useful. 

SANDRA PAULOW, ASSOCIATE BROKER, GRI

Your High Country REALTOR® (928) 242-0300 

TGIF!

Good Afternoon Everyone,

Another week has flown by and we are one week closer to Spring! Yes Spring officially begins 3 weeks from tomorrow, at least by Calendar reckoning. 

It sure doesn't feel like it yet, winter seems to be quite determined to hang on to the very end this year.  Snow is choking much of the High Country of Arizona.  Lots of piles laying around just waiting for warmer weather to melt away.  I think everyone is ready for it too.  All that white stuff was fun for a while but now we are all feeling like we are ready for some green, flowers, and warmer days.

Spring is a great time to start looking for a home too.  Whether you are a First Time Buyer or an Investor, there are some great buys out there just waiting for people to venture out of their winter hidey holes and take a look at them.  You may need to wear your mud boots for a while to get in to them but it won't be long before those Spring winds will start to blow and that old snow and mud will slowly disappear.

If you have been putting off your search get ready, the time to start looking is right now.  Summer follows Spring and then the influx of people will start.  Beat the rush and get you place and get settled before someone else gets there first. 

I am here to help.  Just give me a call and let's see what we can find.  You never know, that dream home in the High Country could be just around the corner with a seller who really needs to sell. 

Life begins anew and I'm ready to start the next phase.  How about you?

Have a Great Weekend everyone, until next time.

Sandra Paulow, Associate Broker, GRI

Your High Country REALTOR®  (928) 242-0300

Good Morning Everyone,

I have been doing a lot of thinking this last week about how we can spur buyer interest in regular listings and away from the REO and Short Sale market.  It isn't going to be easy.  There has been so much publicity about the REO's and Short Sales that many Buyers are convinced that buying one of the above is the only way they are going to get a "good deal". 

In some respects they are right.  Pricing on these properties is very appealing and it is difficult for regular sellers to compete.  Most sellers are not in a position to match a Bank's pricing on their properties so how do we convince Buyers to consider them as an alternative?

Incentives!  Builders use them all the time.  Little extras that tempt the buyer in to buying a home.  Maybe it is an extended patio at no additional cost.  Maybe it is a new Flat Screen TV.  Maybe it is upgraded counter tops or floor coverings.  There are many ways that Builders tempt the buyer in to buying. 

So what can you do as a seller?  Why not offer some extras to the buyer as well?  Maybe that Flat Screen you bought that fits perfectly over the fireplace.  Or perhaps that painting you bought at the Art Fair the just "works" in the space where it hangs.  Maybe those nice bar stools that were custom made to fit at your breakfast bar.  Maybe that nice Log Bedroom set that you bought especially for the Master Bedroom.  Perhaps the Living Room furniture and throw rug that fit just perfectly in the space.  Look around your place and ask yourself if I were a buyer what would attract me to this house?  Remember even though buyers are looking at the house for themselves, it is often something in the house that creates emotion in the buyers that makes them say - THIS IS MY HOUSE!

I have a classic example of how something in a house sold the house.   I was showing a house one evening to a potential buyers.  While the house was lovely in and of itself, it was dated and needed some serious upgrading.  The buyers were debating whether they wanted to make the offer on the house because of the work that would be needed after closing.  Then the buyer spotted a set of glasses in a china cabinet that had little dogs on them.  As it turned out the type of dog on those glasses was exactly the type of dog that the buyer owned.  To them that spoke volumes, this is MY house.  It was a sort of sign to them that they were supposed to have THAT house and they made an offer on it the next day. 

My point is that if you are selling in today's market in times of very stiff competition on pricing, you need to find another way to attract buyers to your home.  You need to somehow provide an incentive to them that it is worth it to them to buy your home as opposed to the lower priced Bank Owned down the street.  Bank Owned properties have baggage but most times the price offsets the baggage in the Buyer's mind. 

Think about your home and then discuss possibilities with your agent.  There are still no guarantees that it is going to work but incentives for Buyers as well as Buyer's agents may make the difference in whether your home sells or not. 

If you would like a consultation on what you might be able to offer, give me a call.  I will be happy to meet with you to discuss possibilities.

Sandra Paulow, Associate Broker, GRI

Your High Country REALTOR® (928) 242-0300

Good Evening Everyone,

I wanted to focus on a different angle in tonight's post.  There has been so much publicity about what great deals foreclosure properties are, that most buyers in the market today think that is what they simply must have when they are buying a home.  Even if they have to settle for something that isn't exactly what they want.

While I won't deny that the prices on them are very competitive, don't sell yourself short by focusing your property search on foreclosure properties to the exclusion of all other properties.  There are many very motivated regular sellers out there who need to sell their homes too.  They may not have the lowest list price but that does not mean that they would not look at an offer if it is a fair price for the property.

Foreclosures come with baggage.  They are sold AS IS and that means that any repairs necessary are going to fall on your shoulders once you close on that house.  Keep in mind that by buying a foreclosure you are buying someone else's problem.  For whatever reason they walked away from the house and it could be because there were defects that they could not deal with.  Those homes have been vacant for a long time and more issues could have developed over time.  The longer a house sits vacant the sadder the condition of the property becomes.    

A regular seller might be more flexible about taking care of some of those items for you so you don't have to worry about them after closing.  If they can't do them, they might be willing to negotiate the price to compensate you for doing those repairs after closing.  All things considered you may end up with a better house, in better shape, with some money in your pocket to do repairs or perhaps upgrades you would like to do.  Yes, your purchase price may be slightly higher but you will be getting more house for your money. 

In today's market you need to remember that almost every home on the market comes with some built in equity.  Just ask your agent what that house sold for originally and you will see that even by paying just a little bit more for a home, when the market recovers and it will, you will be going in to the home in a future equity position.  Unless you plan to buy and sell within a couple of years, you are going to be in a good position on that property. 

It is time for us all, the media, the Real Estate Professionals, and the buyers and sellers to start focusing on the future not the past.  Yes, we have been through some difficult times but things will get better, they always do.  Buying a home or land is always a good investment.  In the words of Gerald O'Hara in Gone with the Wind, "Land is the only thing that lasts".

Some food for thought.  Have a great evening everyone, until next time.

SANDRA PAULOW, ASSOCIATE BROKER, GRI

Your High Country REALTOR®  (928) 242-0300

Happy Valentine's Day!

My goodness where is the year going?  It seems like yesterday that we put the Christmas decorations away and it's already the middle of February.  Valentine's Day, President's Day, before we know it Easter will be here.

If you have been putting off your search because you had lots of time to get in under the deadline for the Tax Credits, time is flying.  I know I have said this before but if you are going to need financing for your new home, and you want to get in on those tax credits, you need to get moving. 

Loans take a minimum of 45 to 60 days to close and you must have your home Under Contract and in escrow by the end of April.  You don't have to close by then but you need to have your offer in and in process before that date.

It may seem like you still have a lot of time but you don't.  It takes time to find the right house.  It takes time to get your offer on the table and accepted, especially if it happens to be Bank Owned or a Short Sale.  Then there are inspections and appraisals to get through before you really have a sale in process.

Traffic is picking up too.  Multiple offers are starting to make an appearance, especially on Bank Owned properties that are being sold below market value.  Traffic is picking up and there aren't a lot of new foreclosures hitting market right now.  Inventory is dropping and balancing out. 

Remember I said a while back there isn't a bell at the bottom.  Well if you are still listening to Zillow and the news, they are not telling you the truth.  I am not saying there aren't going to be more foreclosures but they may not hit the market until after the tax credit deadline.  So if you want to get in on that and get in to a home at a good price, you need to move.  No more sitting on the fence and waiting.  No more thinking you have lots of time, you don't.  Right now contracts written today are closing in April.  By March that will be May etc. etc. etc. 

Call me.  Let me help you get your search started.  If I know what you want I may be able to find it before you even get here.  Take a drive to the Mountain and start looking.  You need help to find those good buys out there because there are over 500 other agents in this market who each have one or two clients looking for the same thing you are.  One house will only go to one client.  If you aren't ready to move you lose. 

See you soon.

Sandra Paulow, Associate Broker, GRI

Your High Country REALTOR®  (928) 242-0300

Good Evening Everyone,

Alright, you've made up your mind, it's time to buy a house!  You keep hearing on the news how many homes are on the market and how many Bank Owned (REO's) properties are out there just waiting for you, Right?  Just about every Buyer in the market today things that buying a Foreclosure property is just what they need to do.  But is it really?  Is Buying a Foreclosure the only option or the best option for your individual situation?

When you decide you are ready to buy a home, you need to think about the fact that there is more to buying a home than the price.  You have to look at it as a Long Term Investment.  You need to weigh not only the purchase price but the amount of work and time you are going to have to put in the home for repairs and upgrades after closing.  Keep in mind that REO properties are usually sold "AS IS" and it is unlikely that the Bank that holds that Asset is going to to do any repairs, even those that may be required for the home to meet the minimum standard for Government financing like FHA & VA.

Are you willing to assume all the risks inherent in this type of transaction?  There is only one common element in REO transactions and that is that the transaction is going to weigh heavily in the Bank's favor.  You as the Buyer will be assuming almost all the risk in the transaction and some of those risks can be expensive.

Would you be better off pursing an Owner Occupied property that doesn't require a lot of repairs?  Would paying a little bit more be a better option if the Seller might be willing to do some of those repairs to meet your Loan requirements?  How will your Mortgage Company view the offer?  Will they look at it favorably or will they try and find a way to deny the loan at the end because of the risks they and you are assuming by financing the property?  There is much to consider.

Today's market is very complex and you need a Professional in your court.  Unless you are an Attorney yourself or reside in a State where Attorneys handle the transactions for you, and you are very familiar with legalese, complicated Contracts and Addendums, you need help.  Even experienced Buyers and Investors find today's market intimidating and confusing.  The old rules of the game have flown right out the window right behind the economy and keeping abreast of changes in the marketplace is a Full-time job.  You need a Full-time Real Estate Professional to guide you through the "new" marketplace.  Buying a property whether it is your First Home or your Last is a big decision.  Let me help you make the right one for your individual situation. 

Give me a call and let's talk.  Let me help you find the perfect home, at the best price, and at the best terms and conditions for your individual situation.

Have a wonderful Evening.

SANDRA PAULOW, ASSOCIATE BROKER, GRI

Your High Country REALTOR®  (928) 242-0300 

Another Good Article for planning your 2010 Trips with the family.

<a href="http://rismedia.com/2010-02-04/getaways-5-strategies-for-happier-family-trips/">Getaways – 5 Strategies for Happier Family Trips | RISMedia</a>

Happy Reading! 

Sandie P. on a Fine Thursday Morning.

Good Morning Everyone,

I found a great article this morning about the next wave of Home Buyers.  As you might expect it is the Baby Boomer generation. 

If you are looking to Upsize or Downsize your home, it is a great time to start the search.  Don't forget if you enter in to a contract before April 30, 2010 and you are a qualified First time or Move-up/down buyer, the Goverment wants to give you money.

<a href="http://rismedia.com/2010-02-04/will-baby-boomers-lead-housing-industry-toward-recovery/">Will Baby Boomers Lead Housing Industry Toward Recovery? | RISMedia</a>

Happy Reading!  Have a wonderful Thursday!

Sandra Paulow, Associate Broker, GRI

Good Morning Everyone,

Buying foreclosure property is not at all the same as buying a retail seller's property.  You can pretty much count on anything you may have come to expect in a Real Estate transaction to be tossed casually out the window.   

Bank Owned properties are handled by out of State Real Estate Companies called Asset Managers.  Asset Managers are basically a Real Estate Company who's sole purpose is to liquidate the bank's assets obtained through Foreclosures or Deed in Lieu of Foreclosure actions.  They contract with agents in the States where the properties are located to market them for them and to produce a buyer who is willing and able to accept their terms and conditions to the sale. 

There are some pretty common threads in each of these transactions.  The following is the "short list" of things you can expect:

1)  The property is going to be sold "AS IS" & "Where Is" and you will be required to sign an Addendum that states that you understand and accept those terms. 

2)  If you normally get a 10 day Inspection period, it will probably be cut to five (5) or seven (7). 

3) If the property is winterized, it is possible that the Bank Addendum to the Contract  will include verbiage that requires that you pay to re-winterize the property at your expense after your inspections are completed. 

4) You will not be provided any Disclosures Statements with the exception of of a Lead Based Paint Addendum as it is required by Federal Law. 

5) If repairs are required in order for you to qualify for your loan; one way or another you will have to pay for the repairs yourself.  If the appraised value allows, the cost of necessary repairs may be added to the loan amount.  If there is no room on the appraised value, you may be required to produce additional cash at closing (or before) to pay for those repairs yourself.  Some banks are more flexible than others and on occasion the bank may incur the cost of necessary repairs to protect the property from further damage or to correct safety concerns.  That is the exception though, rather than the norm.

6)  You may be permitted to choose your own Title Company but you may also incur extra cost to do so.  Asset Managers have contractual arrangements with specific Title Companies and if you do not use their chosen Title Company, they often will require the buyer to pay for their own Title Policy and that cost can be significant.    

4) Last but not least, be very careful what that Bank Addendum says about the type of Deed you will get to the property at Closing.  While I am not an Attorney and cannot provide you with any advice in this area you need to be sure that you address this issue to get as much protection on the final Deed as possible.  You will need to consult with an Attorney or other professional for advice in this area.  Just be sure you understand what is being said in the Bank Addendum regarding the type of Deed they will issue at closing. 

The point in this is to help you as a buyer to understand that while the prices of Bank Owned property may be very appealing, there are many pitfalls that could come back and bite you later if you are not very careful.  You need guidance of a professional to help you understand the benefits and pitfalls of buying Bank Owned Property. 

If you are still of a mind to buy this type of property and you are looking for the right deal in the White Mountains of Arizona, give me a call.  I have the experience to help you through these problematic transactions.

Have a great day and I look forward to hearing from you soon.

Sandra Paulow, Associate Broker, GRI 

Your High Country REALTOR®  (928) 242-0300