Pinetop White Mountain Blog

Good Afternoon Everyone,

I know, I haven't written in a while and you probably think I was never going to write again.  I've just been very very busy.  Lots of people buying property and escrows going on so haven't had much time to be creative, just working to make sure everyone's sales close as smoothly and on time.  So far, so good! 

So you read my header and I'll bet you are wondering what I am talking about don't you?  I couldn't possibly be talking about Real Estate after all there are hundreds of homes on the market and lots to choose from, right?   Well not really, the inventory has really dropped in the past month or so.  The late summer in the White Mountains is always busy and this year was no exception. 

If you want to get in on some of these great deals before they disappear you need to make a move now.  If the homes remaining don't sell before winter hits, they will likely disappear for about six months and reappear in the Spring at much higher prices.  The Economy is improving a bit, and with that are more people working and trying really hard to stay in their homes.  Many have worked things out with their mortgage companies and are getting caught up.  The ones that couldn't do that probably bailed on their mortgages long ago and those homes are long gone. 

I'm not saying there are no distress sales left in the White Mountains,  but there are far fewer of them than there were earlier this year.  What we are seeing now is sellers who really would like to sell their homes so they don't have to close them up again for the winter and try again next year.  People who want to sell want to do it so they can move on with their lives.  I can't think of one sale in the past few months that was a foreclosure, all were regular sellers who got an offer and negotiated a deal to sell the home.  

As for people who are thinking about selling, well, if you are thinking you would like to sell, winter isn't a bad time to try it.  The inventory always drops in the winter and if you are priced competitively in today's market, you might just generate a buyer.  Most of my well priced homes have sold this year, the only ones remaining on the market are those who have higher end homes to sell.  The price point for buyers has come up, but the higher end market is still lagging.  

Another consideration for both Buyers and Sellers is the fact that the Government backed loans like FHA, VA, & USDA Loan Limits are falling back.  If a loan is originated before October 1, the higher limits will still apply.  After that, the amount a buyer can borrow for a Government loan is going to come down.  That is going to put more pressure on sellers who have homes that would qualify but are priced above that cut off point.

All is all, the market has improved some this year but it still has a long way to go.  It is still a Buyer's Market and it probably will be for several more years yet.  The difference right now is that interest rates are phenomenal and they can't possibly stay that way indefinitely.

If I can help you "Find Your Perfect Place", call me.  I know the market and I know values and I'm sure we can find the place the works just right for you.

Thanks for reading, until next time....!

Sandra Paulow, Associate Broker, GRI, SFR, REALTOR® (928) 242-0300