Pinetop White Mountain Blog

Good Evening Everyone,

Today's lending is very tight and no matter what kind of loan you are applying for, Government backed like FHA or VA, or Conventional, be prepared to jump to the lender's tune to buy your property.

First Time Homebuyers seem to have it the best.  It seems that lenders are much more lenient with First Timers than other buyers. The lending institutions seem to bend over backwards to help the First Time Buyer but for a regular buyer, they are really tough. 

It is my opinion that the lenders see the lower end, first time homebuyer as a better risk.  They are not buying expensive property for the most part, they are excited about getting a property, and statistically they will work very hard to keep that property because they had to work so hard to get it in the first place. 

Other buyers and even retirees are now seen as higher risk.  The lenders are buried under thousands and thousands of foreclosure properties because people made bad buying decisions when the market was booming.  Now these same buyers have seen their equity diminish and rather than wait out the down turn and hold on until things recover, they are walking away from those properties that they just had to have a few years ago. 

Oh, I place a lot of this on the shoulders of the lenders themselves because back when the market was booming if you could walk and chew gum at the same time you could get financing.  Now even with good credit, a good job, and a good down payment, these same lenders are making it very tough to get any kind of financing.  It seems they are looking for excuses not to loan even for well qualified buyers.  They are  too tough in my opinion but we must work with it.   

My point in this post is to prepare you ahead of time that if you are trying to buy a property, whether it be for your first home or your last, you must be prepared to jump through all kinds of hoops to satisfy your lender.  We are all at their mercy and they are putting a great deal more risk on the backs of the buyers these days and you need to be prepared for that ahead of time.  It can be done, we just have to comply with the lenders requirements in order for it to happen.  If you can't comply, the bottom line is you aren't going to get that loan.

Good luck with your searches and your purchases.  If we can help or answer any questions for you we are here for you. 

---REMEMBER---

"WE WORK FOR YOU!"

SANDRA & BRUCE PAULOW, Your High Country REALTORS®

(928) 242-0300

Good Evening Everyone,

Fall is truly here now and Ol' Man Winter Showed his face in Pinetop today.  We woke up to about 3 inches of snow this morning.  It was really pretty to see the snow and we sure needed the moisture.  Maybe those few wild fires around the area will slow down so the firefighters can get a ring around them.  It won't last long though, it is supposed to warm up by this weekend and this time of year is really nice in the high country.

Fall is a great time to buy property too.  Sellers who have not had much activity this summer, and that seems to be most of them, are really getting anxious about selling.  For you buyers that is good news because now that the peak of the buying season is over, there are some really good deals left over.  No, I don't mean you are going to steal something, but you can get some really good buys this time of year.

Contrary to what you hear on the news, there is financing out there although it is a little harder to qualify these days.  Lenders are looking at not only the buyer but at the property too.  It will need to meet certain guidelines for a lender to lend on it.  So when you are looking, be aware that you need to look for obvious issues that may be noted by an appraiser when they go out to look at the property. 

You may find that you are much better off working with a traditional seller than a bank.  Banks don't do repairs and I just hate to see buyers spend their hard earned money on inspections and appraisals, only to have their lender deny their loan because there are issue on the property that will have to be fixed before they will lend on it.  Just to reiterate, Banks don't do repairs!  Traditional Sellers sometimes will. 

So if you have been sitting on the proverbial fence all year thinking prices are going to come down more, the time to move has come.  In many areas, even in Arizona, we are seeing prices start to creep back up again.  If you've been waiting for that bell to ring at the bottom, you may have already missed it.  Also, predictions are that by next summer markets should stabilize further and interest rates on loans are likely to start up too.  It doesn't take much of an interest increase to put that payment on the house you have been watching to get too high and bump you out of the running.

So come on up to the High Country.  Come enjoy that crisp fall air, enjoy the sites, and take a look around.  I think you will be delightfully surprised.

We are here for you, so just give us a call.

Sandra & Bruce Paulow, Your High Country REALTORS®

(928) 242-0300 

Good Morning Everyone,

Below is a link to a great article on what the National Association of REALTORS® is doing for you and for me.  We are all working hard to keep the Incentives for Real Estate Home Buyers going. 

Enjoy!

<a href="http://rismedia.com/2009-10-21/housing-tax-credit-working-nar-says-to-keep-momentum-going/">Housing Tax Credit Working, NAR Says to Keep Momentum Going | RISMedia</a>

Sandra Paulow, Associate Broker, GRI

Have a Great Day!  (928) 242-0300

Good Evening Everyone,

Are you still sitting on the fence waiting to buy a home?  Well, you probably shouldn't wait much longer because it could cost you.  Prices are beginning to stabilize and in some areas are starting to rise.  A recent article I read shows prices in the Phoenix Metro area are already starting to go back up.  Not significantly but they are moving upward.

In our area prices are the best they have been since the early 2000's and the foreclosure and short sale inventory is dropping.  There are still some around but not that many and once they are gone, prices are going to start climbing again quickly.  They have never dropped to the extent that they have in other areas and I don't see them going much lower.  Sellers are just saying that is enough, I'm not going to go any lower.

I have had several of my clients tell me recently that they are going to wait until Spring to buy because they think prices will drop more.  Here is a reality check for you, in our area in the Spring, prices go UP, not DOWN.  Sellers are anticipating the summer buying season and will start their pricing high. 

Here are some other factors to consider.  If the government follows through with it's plan to start allowing banks to collect the difference from the sellers on Short Sales, they are going to go away.  Add to that the fact that the Banks themselves have stated that they aren't going to give the foreclosures away any more either.  They are holding much closer to the owed values on homes assuming approximately a 20% loss is sufficient.  They are not going to keep dumping properties on the market at ridiculous prices.

So, if you have been waiting around thinking prices are going to go lower, you may not want to wait much longer.  The Stock Market is stabilizing, the economy is beginning to recover although it is slow, and by the end of 2010, I think we are going to see some significant changes in all sectors of the marketplace.  Real Estate included.  Waiting could cost you in both pricing and in interest on a new loan.

Many of the incentives are ending soon and while there is talk of extending them, that hasn't happened yet.  If I were in the market for a home, I would start my search immediately.  I would have to kick myself really hard next Spring if the home I have had my eye on all year is priced higher and I missed out on a great deal.

Give us a call.  Things will get better.  Quit listening to KC on the evening news and all the other negative nellies out there and move.  There is no better investment than Real Estate.  Remember the old saying, if you snooze you lose!

Thanks for reading.

Have a great evening.

Sandra Paulow, Associate Broker, GRI

(928) 242-0300

Good Morning Everyone,

This very funny You-tube Video may be done as a joke, but it really isn't that far from the truth.  You may think you want to buy a foreclosure but are you ready for the difficulties in doing so? 

Enjoy the laugh but realize that it is a tongue in cheek joke about a very real situation. 

http://www.youtube.com/watch?v=SM7oWKgCVo4

If you still think you want to buy a foreclosure because they are such a good deal, give us a call.  We'll help you over the hurdles.

Sandra & Bruce Paulow, Your High Country REALTORS®

Good Morning Everyone,

I was reading an article this morning about the fact that many people are perhaps losing their homes needlessly.  Foreclosure is not inevitable nor should it be a source of fear or embarrassment. 

This article was written by a representative of the CCCS (Consumer Credit Counseling Service) and it was a good article.

Here is a link to the article to help you if you are facing the possibility of foreclosure to see if you can't work through it with the help of people trained to help.

http://rismedia.com/2009-10-10/overcoming-fear-of-foreclosure-critical-for-many-people-to-keep-their-homes/

Good Luck, I hope this article will provide you with the resources you need to make things work out to your benefit.

Have a great weekend!

Sandra & Bruce Paulow, Your High Country REALTORS®

(928) 242-0300    

Good Afternoon Everyone,

In honor of the fall season in the White Mountains I decided to use fall colors for my post today.

Yes, this photo really is of the White Mountains in the area over near Greer.  It was taken a couple of years ago at the height of the "color" season.

It is that time of year again and when we passed through that way a couple of weekends ago, the colors were already showing and it promised to be a glorious year for color in the high country.  If haven't visited the White Mountains recently, this is a great time to do it. 

Warm & sunny days to envy and cool crisp nights to relax and enjoy a cozy fire or a night out at one of the local restaurants. 

So come on up and take a drive over toward the Sunrise Ski Area and take advantage of the magnificent nature show.  This weekend is the Winter White Out Sale in anticipation of the ski season that is just around the corner.   Take a lift ride and enjoy the colors around you.

This is my favorite season of the year and I'm sure you will find it to be yours as well.

See You Soon!

Sandra & Bruce Paulow, Your High Country REALTORS®

WOW! PRICE IS HALF THAT OF SIMILAR PROPERTIES!

STARTING BID PRICE ONLY $79,900.

Great little "deal" here!  Priced at a Short Sale price but this bank is willing to work with any buyer who will make an offer on this property.  Price is quite literally half of that of similar properties in the same area.  It may not sell at this outrageous price, but it will still sell way below the competition. 

One Bedroom One Bath

Constructed in 2005 and hardly ever been used!

Wood Floors & Wood Tongue & Groove Ceilings

See through Gas Fireplace from Living Room to Master Bedroom

Full Bath with Stack Unit Washer & Dryer Hookup

Two Decks - Front & Back

Concrete Drive

View Lot

WHAT MORE COULD YOU ASK FOR IN A GREAT GET-AWAY CABIN????

GIVE US A CALL FOR YOUR SHOWING, GET IT BEFORE IT IS GONE!

SANDRA & BRUCE PAULOW

4600 BUCK SPRINGS ROAD IN PINETOP, AZ.

(928) 242-0300