Pinetop White Mountain Blog

Good Morning Everyone!

Well the big Holiday is over and the New Year is almost upon us!  Wow, where did the year go?  It seems that they fly by faster and faster every year.  I have a feeling it has something to do with getting older.  Oh well, it happens to the best of us.

So what will the New Year bring?  Boy I wish I knew the answers.  2008 was a tough one for us all and I don't expect things are going to get a whole lot better in 2009.  We know for sure that in Mid-January we are going to have a new President.  Good or Bad, that remains to be seen.

In the Real Estate Market things are likely to continue being difficult for a while.  For all of the Sellers it is going to continue to be hard to sell a property unless prices are dropped significantly because the competition for buys is very stiff, and an overpriced property just will not get any activity.  The only bright side to this for Sellers is that if they are selling and planning to buy a home in another area, prices in that area are likely to have fallen just as much so in the end they will break even on the loss they took combined with the lower price they will pay for their next home. 

Sellers need to consider some creative financing options as well.  Believe it or not a Seller Carryback can be a good option and it would be worth their while to check with their own mortgage company to determine if their existing loan might be assumable.  Yes, that is a term we haven't seen in a long time but many existing loans are assumable for a qualified buyer.  That might be a good option for someone who needs to get out fast.  When monies loosen up more, the new buyer can refinance and that old loan will go away. 

For Buyers it is another story!  Prices have been dropping everywhere in the Country and no place is that more evident than right here in the White Mountains.  We are seeing prices such as we have not seen in many many years.  Yes, some of them are Bank Owned, but not all.  Many Sellers are much more open to negotiation than in previous years, not necessarily on price, but perhaps they might be willing to cover some closing costs or other related costs for a Buyer.  It is certainly worth considering.  Don't forget that the limits on FHA and VA Loans have been raised too and hopes are that those limits will become permanent. 

So if you are thinking about buying a home.  Now is a great time to get out there and start your search.  The selection is fantastic and there is funding out there for new loans despite what the media keeps yelling.  Turn off the news and talk to the Pros, we are the ones who know the scoop, the media just likes to hear themselves talk. 

Let us help you find the home of your choice.  No it may not be your dream home, but it can be a start for you to work your way up to that dream.  No matter what the current economic conditions are, Real Estate is the foundation of that Economy and once Real Estate begins to recover, everything else will follow suit.

Give us a call and let us help you start on your journey to the American Dream of Home Ownership.

Sandra & Bruce Paulow, GRI's

Your High Country REALTORS®