Pinetop White Mountain Blog

Good Afternoon Everyone,

Did you miss the price reduction on this lovely cabin in the Pinetop Lakes Country Club?  If you did, you should really take another look at this property.  Reduced ove 50K and the sellers are really motivated to sell it. 

So many outstanding features I can't list them all.  Take a look at it on my listing pages though and see how pretty this home really is. 

Perfect location for your ski cabin.  Only about 30 miles to Sunrise from your front door.  Over the hill and you are there.  Come home and crash by the huge fireplace in the LR and make your dinner in the spacious kitchen area.  Summers can be spent sitting on the back deck enjoying those cool mountain breezes.  Just around the corner from Pinetop Lakes Golf Course. 

So come on up and take a look at this wonderful cabin.  It really is a must see home.  Priced at only $329,900.  is is a great value in this prime neighborhood.

Have a great evening.

Sandra Paulow, Associate Broker, GRI

(928) 242-0300

Good Thanksgiving Eve!

I truly hope this post finds you with all your shopping done, your bird for tomorrow's dinner almost defrosted and all of you enjoying or looking forward to your family gatherings tomorrow.

We will be spending a quiet day at home with each other, our dog, and my 91 year old mother.  We will enjoy the day away from business and relax and enjoy each other.

It's back at it on Friday, yes, I have to work, so I won't be able to jump on those after Thanksgiving sales.  That is okay, our Christmas is apt to be a little lean this year just like everyone elses. 

Have a Wonderful Thanksgiving!

SANDRA & BRUCE PAULOW, Your High Country REALTORS®

Good Evening Everyone,

Buying property in today's market takes Patience, Persistence, & a Good Agent to get it done.  You start out real excited about buying a home.  Whether it be your first, last, or something in between, you need to be prepared for the realities of today's market.  It is rough out there and while the initial rush of finding the perfect home is wonderful, you need to be prepared for the realities of the actual transaction.

Let me start with Lending.  Lending is a royal pain today and there is no way to sugar coat that.  Lenders seem to take more time than ever to underwrite a loan.  They question the appraisals over and over again just to be sure the value on the property is correct.  And even once all that is done, they take forever to get the final loan documents to the Title Company for signing.  Most sales are being delayed as much as a month to get closed.  It is frustrating for everyone but it is worth it in the end.  Patience and Persistence are the keys to getting your loan finished.

The last thing I mentioned was a Good Agent.  By a good agent I don't mean just someone who knows how to find you the right house.  I mean an agent who is skilled in all areas of real estate and has the tenacity of a bull dog to help you over the complexities of a Real Estate transaction in today's market.  Contrary to what many people perceive as a Real Estate Agent's job, the truth is there is a lot more to a Real Estate transaction than just finding the right property.  Your agent better know all the legalities involved and be able to find out information when it is needed.  They need to stay on top of the details and deadlines and make sure everyone involved in the transaction is kept in the loop. 

Keep in mind there are a lot of people involved in a property purchase.  There are other agents/brokers, there are Title Officers, perhaps Attorneys, there are loan officers, loan processors, inspectors, appraisers, and now we have the appraisal middleman, the HVCC too; not to mention you the buyer and the seller and in some cases even conservators or guardians.  There is a lot to remember and there is a lot to know and your agent needs to be involved with every aspect of the transaction from the very beginning until the closing and you get your keys. 

So how do you find a good agent?  Well start with asking your friends and acquaintances for a referral.  If they can't help then get on phone and start calling or jump on the internet and look for agents who specialize in the area you are interested in and have content relating to your needs.  If you are a first time buyer, you want someone who has worked with first time buyers before and can help you with financing, down payment assistance programs, and who will guide you along the way.   The first site your find on page one of google isn't always the best choice.  That probably belongs to a corporate real estate company who pay a fortune for that placement but it will be the luck of the draw who actually ends up with your inquiry.  An individual agent's site is a better bet and one who works in your area of expertise.  Look for content relating to your needs.  See if there is a search link so you can access the local MLS.  Start looking and then call the agent and see if they can help you with your needs.  You will know if they are the right one because they will try and help you, not sell themselves. 

So am I asking you to contact me, of course.  But my main point is to make sure you know that in today's market there are many challenges involved in buying Real Estate.  You really need someone who is in your court working really hard for you to have a successful transaction.  One of my old tags was "Experience the Difference" and that still holds true today.  Experience does make a difference and a successful transaction makes everyone happy.

Have a great evening everyone!  Until next time.....

Sandra Paulow, Associate Broker, GRI

(928) 242-0300

Good Evening Everyone,

Tonight's post is addressed to the sellers out there who are frustrated because their homes are not selling.  Well today I came up with the magic formula, take 20% off whatever you want or think your home is worth and that is the price a buyer will be willing to pay for it. Oh, I can hear the moans and groans and the delete buttons going already.  But hear me out please. 

I was looking at the possibility of listing a property for someone today.  This individual had already told me where he wanted to price the property.   I thought is sounded a little high but rather than just discourage him up front, I wanted to run the comps before we met.  This individual honestly thought he was right where he should be at the price he wanted.  Well, if we were in normal market with normal appreciation rates the price probably would have been good.  But today that price was just about 20% higher than the comps showed the selling price would probably be.  In today's marketplace there is no such thing as a normal market.  Nothing relating to Real Estate is NORMAL anymore and whatever you think Real Estate ought to be just doesn't hold in today's market.  The old rules of the game just don't apply anymore. 

What I am saying here is that you really need to listen when your agent tells you what your home will sell for.  We are not talking LIST PRICE here, we are talking SELLING PRICE!    If your market is down 10% than that is where you need to be if you want your home to sell. If it is down 30%, that is where you need to be.

Today's buyers are making their offers based on research they have already done or that they ask their buyer's agent to do on their behalf.  If they make you an offer, that is the offer, and that is the price they are willing to pay for the property.  You have two choices, accept it or not.  If you don't accept it than that buyer is probably going to move on down the road to their second choice and it could be months or in some cases years before you see another offer.

It is a tough market for sellers right now because buyers are scarce and they are very reluctant buyers too.  They have heard all the reports, they don't know, any more than I do, what the market is going to do in the future.  They simply will not overpay for a property.  If they are getting a loan they can't even if they want to, because the appraisal will tell the story.  Many a sale has gone sideways this year because the appraisal didn't support the agreed on price.  Sellers didn't want to come down to the appraised value and buyers just can't or won't go up.  Buyers are very cautious and they will only move on a property that is at or below the comps in the area. 

One more little point that is a little off the track but that you need to know.  Sales are taking a LONG TIME to close.  There is no sense in pressuring your buyer to a 30 day closing because unless it is a cash sale, it isn't going to happen.  Lenders are very slow to move on anything these days and they are underwriting loans, re-underwriting, and underwriting them again.  They are questioning appraisals and asking for second appraisals and desk appraisals before they will give final approval on a loan.  In today's market being smart and patient are the keys to a successful sale. 

I hope you found this post helpful.  Good Luck with your sale and if I can be of assistance, don't hesitate to call.

Have a great evening.

Sandra Paulow, Associate Broker, GRI

Your High Country REALTOR® 

Good Evening Everyone,

If you missed out on the tax credit in 2008 and 2009 you have another opportunity.  The $8000. tax credit for First Time Homebuyers is still available until April 2010.  In addition Congress added a $6500. tax credit for existing homeowners who have used the home as a Principal Residence for 5 of the last 8 years.  This is a great opportunity for you who have either sold or are in the process of selling an existing home and buy another.  Don't miss out, this could be the last time we see this available and get in while the interest rates are still low.  

The details follow this post.  Take a look and then give me a call and let me help you get in on this great opportunity to own your first home or move up in to a little bigger home. 

Have a great weekend everyone, I look forward to hearing from you soon.

Sandra Paulow, Associate Broker, GRI

Your High Country REALTOR®   (928) 242-0300

Congress has extended and expanded the homebuyer tax credit The modifications in the column labeled "December 1 - April 30, 2010" become effective when President Obama signs the bill. All changes made to the current credit become effective on that date, as well.

FEATURE	Jan 1 - November 30, 2009 Rules as enacted February 2009	December 1 - April 30, 2010 Rules as enacted November 2009
First-time Buyer -Amount of Credit	$8000 ($4000 married filing separate)	$8000 ($4000 married filing separate)
First-time Buyer -Definition for Eligibility	May not have had an interest in a principal residence for 3 years prior to purchase	Same
Current Homeowner -Amount of Credit	No Provision	$6500 ($3250 married filing separate)
Effective Date -Current Owner	No Provision	Date of Enactment
Current Homeowner -Definition for Eligibility	No Provision	Must have used the home sold or being sold as a principal residence consecutively for 5 of the previous 8 years
Termination of Credit	Purchases after November 30, 2009. (Becomes April 30, 2010 on Date of Enactment]	Purchases after April 30, 2010
Binding Contract Rule	None	So long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Income Limits (Note: Increased income limits are effective as of date of enactment of bill)	$75,000 - single $15 0,000 -married Additional $20,000 phase out	$125,000 - single $225,000 - married Additional $20,000 phase out
Limitation on Cost of Purchased Home	None	$800,000 Effective Date of Enactment
Purchase by a Dependent	No Provision	Ineligible Effective Date of Enactment
Anti- fraud Rule	None	Purchaser must attach documentation of purchase to tax return

Good Morning Everyone,

Well, have you gotten your love letter from your Credit Card Companies yet?  If you haven't received it yet, you probably will be soon.  What does it say?  It is the Credit Card Company's Thank you for your years of loyalty and your responsible credit history.  Their way of thanking you is to raise your rate to astronomical levels before the government regulations tell them they can't do it any more.  This law takes effect in February 2010.

I got my letters this week.  After years of loyalty and an excellent payment history with Captial One - yes I am naming names - they have raised the rates on my cards, all of my cards, to almost 25% on any new purchases.  I am so glad they appreciate my business and I'll bet you will be too.

So here is what you have to do when you get your letter.  You write them a letter and tell they you are opting out of the rate increase, you cut up your cards and throw them away, and work really hard at getting them paid off.  Then you shop around for another company who will grant you a good rate and to whom you can transfer your balances.  It is the only way you are going to be able to pay them off, EVER!

This is another way the banking industry is trying to recoup their losses on all the foreclosures they have been hit with.  Of course, they did it to themselves with the bad loans they made but we the consumer are going to pay for it one way or another.

So just do it.  Tell them NO in great big letters and don't play the game.  After Feb. 2010 they can't arbitrarily raise your rates for no reason and they are getting them now because they know they can't get them later.

Good luck, I hope you join my in my protest of this practice and let's just tell them all to take a hike.  Of course, you might want to consult with your attorney or your accountant before you do anything radical, but...to me, if I toast my credit it is worth it.

Have a Great Day!

Sandra Paulow, Associate Broker, GRI

Your High Country REALTOR®