Pinetop White Mountain Blog

Good Afternoon Everyone,

I was just sitting here in my office thinking about the Real Estate Market and what our biggest obstacle is today.  I concluded that the biggest obstacle is Sellers for whom the clock stopped in 2005.

We all know those were the "Good Ol' Days" and we all remember how nice it was to be able to count on an offer coming in fairly quickly after listing the property and usually at full price, or for a particularly desirable property, even above the list price.  I hate to tell you folks, but those days are over.  That is not happening anymore and time does not stand still for anyone.   

We have been in a market slide for three years now and it isn't over yet.  In today's market, if you can break even you are doing well, but in many cases sellers are having to take a loss on their homes to sell them.  Buyers are simply unwilling to pay an inflated price for a property these days and they don't have to.  There are so may to choose from, they will keep looking until they find the one they consider to be a good deal.  

In some markets there are signs that the worst is over but that does not hold true in all markets.  Even where there are signs of recovery it is going to be a long time before we see prices begin to climb again.  They may stabilize, they may quit sliding downward at some point, but they are not going to appreciate significantly for a long time.  There are just too many other factors contributing to the present market conditions.  Lending is tight, lenders are very reluctant to lend even to well qualified buyers.  There are still a lot of home being sold at "Short Sale" prices and many more yet to hit the market as foreclosures.  As long as that keeps going prices are going to continue to slide downward in most areas.

So, I am sorry to inform you Mr. & Mrs. Seller, but the clock did not stop in 2005.  Markets go up and market go down, and right now we are still on the downward side of the slope.  If you can make a little profit on your sale - celebrate!  If you can break even on your sale -be grateful.  If you get an offer, even a low one, try to work with it and make it work, because with all the homes on the market it may be a long time before you see another offer.  If none of those options is acceptable to you then don't try and sell right now. 

In today's market you have a choice, you can be an "owner" or a "seller".  And if a "seller" is what you need to be than you need to be prepared to be competitive with your pricing.  If you can't be, or simply refuse to be, an "owner" you will remain.  

I know my Friday message wasn't a real positive one, but it is a truthful one.  And perhaps, for those of you who are trying to sell and are frustrated with the activity you have been getting on your property, it will give you some food for thought over the weekend.

If you have questions, feel free to call me.  As always, I am at your service.

Sandra Paulow, Associate Broker, GRI

(928) 242 -0300