What drives property values in Pinetop?

Over time home values generally appreciate. However, values will fluctuate depending on a number of factors.     

Access to services: Many consumers prefer to live in regions with close proximity to schools and work.  More recent indicators are that the walkability of a neighborhood and proximity to local businesses and entertainment are also important.  Areas with a good balance of all of these things generally contribute to the appreciation in values and retention of values during economic downturns. 

Recent sales:  Recent sales also affect value.  Your real estate agent can provide you with stats on the recent home sales in the regions that you're interested in. You'll want to know average time on market, selling versus listing price and more.

Appreciation history:  The last several years has created a degree of distrust in Real Estate as a good investment.  That is certainly understandable.  We have all suffered losses of some kind with the deepness and duration of the last recession.  That is beginning to shift toward the positive side now.   As economic conditions improve and more people are able to pull themselves out from under their job losses, credit woes, etc. values will gain more as time goes on.  

Markets fluctuate with economic shift.  This last decline was far more drastic than expected and has created a fear in people who would like to own.  There is always certain degree of risk associated with any investment but despite that, when you own property you have something tangible that you can put your hand on and feel.  No matter what happens, you own something that isn't going away not matter what happens in the world.  You have a true asset that will gain value over time.     

Local economy - Is there a nice mix of job types in an area?  Have companies moved into or away from an area? Are local businesses hiring? These items play a role.

The local economy is the number one factor impacting real estate appreciation. Happenings at the National Level can also affect home values.  Unemployment, interest rates, inflation, and other factors can affect values.    

Free Home Valuation

On that note I will say that overall, Pinetop weathered the recent economic woes fairly well.  While many homes did lose some value during the worst of the recession, the loss in value was far less than in other parts of Arizona.  Values are increasing again and many who suffered a loss during the downturn are finding they are able to avoid the Short Sale nightmare if they want to sell.  Some people who lost their homes to foreclosure are finding they are able to buy again.  (Boomerang Buyers).  Lending restrictions are far tighter than they were pre-recession, but not so tight that financing is not a possibility.  Demand is increasing as the economy recovers and with demand comes an increase in value. 

If you are thinking about selling this year, call me.  I would be happy to meet with you and evaluate your home in relation to current market conditions.  The time to consider getting your home on the market is now, the season is already picking up and there are buyers looking. 

Sandra Paulow, Associate Broker, GRI, SFR, REALTOR®

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Hello There! Thanks for visiting my site. Are you thinking about selling? In today's market the challenges are many but I can help you overcome those challenges, give me a call and Let's Get Started! Sandra Paulow, Associate Broker, GRI, SFR, REALTOR® Aspen Properties, Inc.

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