Pinetop White Mountain Blog

Good Afternoon Everyone,

I thought you might be interested in the following article.  I received this article from REALTOR® Magazine Daily News.  It was originally published in the New York Times. 

If you are in the market for a higher end home this is a great time to start your search, especially if you are a cash buyer.  Even in the White Mountains of Arizona, Homes in the 300K and up range are very plentiful and there are some great buys out there.  Homes that at the peak of the market in 2006 would have sold for much closer to 500K are being offered in the mid-300's.  Let me help you find your High Country Luxury Home at a great price.

Happy Reading!  Sandra Paulow, Associate Broker, GRI  928-242-0300

A Good Time to Buy a High-End Home

Some of the best housing deals are on high-end homes, many over $1 million. Some of them need TLC or they aren’t in the most-coveted locations. But there are plenty of desirable properties and lots of sellers who are getting impatient.

Buyers with cash have the best opportunities. Buyers who need a mortgage should move especially quickly. With the Federal Reserve ending its purchases of mortgage securities this month, the mortgage market is likely to rise from its current low level. Even if prices fall further, the rising cost of borrowing could eliminate any savings.

As Kenneth Rosen, chairman of the Fisher Center for Real Estate and Urban Economics at the University of California, says, this is a "very good time to be a buyer at the high end."

Source: The Wall Street Journal, Nick Timiraos and James R. Hagerty (03/27/2010)