Pinetop White Mountain Blog

Properties are starting to Sell!

For all you sellers out there, this is good news.  For all you Buyers if you want to get in on some of the good buys out there, you better get moving.

In the past three weeks the number of properties Pending Sale in our area has more than doubled.  A lot of the Bank Owned or REO's are disappearing from the marketplace and once they are gone, prices are going to stabilize and may even start creeping up again. 

That does not mean that we are going to hit a boom again, but it is going to drop the inventory of homes a bit and sellers, if they are priced right, will start to see a little more action on their homes. 

The bargain hunter buyers are still very active in the marketplace but they are finding that sellers are not quite so willing to take low ball offers as they were just a few months ago.  Not every seller in every market is a distressed homeowner and they just aren't willing to take major hit's on their equity to sell.  Buyers need to be aware that when looking for property, they need once again to make a reasonable offer, not a ridiculously low one thinking they are going to steal something.  The opportunity for that melted away with the last of the winter snows. 

Lending is loosening up a little.  Oh you still have to have a decent down payment and a good credit score, and verifiable income to quality for Conventional financing, but there are more loans available than there were a few months ago.  For First Time Buyers, if you have been sitting back and waiting, don't do it any more.  Take advantage of the excellent interest rates for FHA and VA Loans and get your $8000 tax rebate from the Government.  That rebate is only good until the end of 2009 then it is gone.

Have a wonderful "windy" Wednesday and we look forward to hearing from you soon.

Sandra Paulow, Assoc. Broker, GRI, Bruce Paulow, Sales Associate, GRI

Your High Country REALTORS®

(928) 242-0300

--- Remember our Motto ---

"WE WORK FOR YOU!"