Pinetop White Mountain Blog

Good Afternoon Everyone,

Today's market presents many challenges for both Buyers and Sellers.  It is a hard pill to swallow that the market can have changed so drastically in just a couple of years.  The fact is that it has. 

A Seller has an especially difficult challenge to overcome and that is trying to sell in a down market.  Faced with countless foreclosures in the same neighborhood, it is very difficult to compete in the current market conditions.

The question you really have to ask yourself if you are trying to sell your property is:  Do I want to be an owner or a seller?   You have to first understand the difference.  An owner is what you are now.  You own the property, you would like to sell it, but it isn't selling.  So you ask yourself why?  The answer is simple, we are in a price driven market and if you are not priced to attract the interest of a buyer you are not going to become a seller.  You will remain an owner. 

The formula is pretty simple:

Showings = Offers = Sales. 

If you aren't getting any of the above than the answer is defined simply by one word ------PRICE!

The key to success in this market is that you need to be priced where the buyer is going to take a second look at your property.  If they are looking in a particular area and they see your property, they are going to look at the price.  If it is higher than any of the others they have been looking at they are going to move on.  It doesn't matter that your property may be nicer than the one down the street.  It doesn't matter that your property is in a better location.  It is higher priced and that is all that matters to that buyer.

So what do you do.  You first have to answer the question I presented to you in the first paragraph.  Do you want to be an owner or a seller?  If you want to be a seller than you need to move to step two and that is to take a really good look at what you want for your property to determine if you "have" to get that much out of it or if that is what you "want".  Remember no matter what the comps say, no matter how much you love your property, no matter what you think it should sell for, the buyer doesn't care.  If you want to sell it, you need to be the best priced home in the neighborhood.  In today's market that means you need to be 5 to7% below everyone else.  Buyers know you can't get below that repo down the street and that is okay.  They just want the best buy in the neighborhood.  If your property is the one, it will sell. 

So there you have it.  The formula for selling is pretty simple.

Get the showings = get the offers = get the sale!  That is all there is too it but to get to number three you have to get through numbers 1 and 2.  To do that you have to take a really close look at your pricing and then adjust it accordingly.  Remember, it may seem like we are near the bottom and in some places that may be true.  Where you are, it may not be.  You need to consult with your chosen professional to find out.  If prices in your area are higher than they are in other areas of your State, chances are you aren't at the bottom yet and it is going to get worse before it gets better. 

The bottom line is that you have to determine what you want to be.  If it is an Owner and you are determined to hold out for your desired price, you might as well sit back and ride it out because you are probably going to get your wish.  If you want to be the seller, than you really need to determine where you have to be to get the needed activity to get your home sold.  Buyers are still pretty scarce and the ones that are out there are pretty picky and very price conscious and the best price "wins".

Have a great weekend everyone.  If we can help you with your White Mountains of Arizona Real Estate needs, all you have to do is give us a call. 

---REMEMBER OUR MOTT0---

"WE WORK FOR YOU!"

SANDRA & BRUCE PAULOW

Your High Country REALTORS®