Pinetop White Mountain Blog

Good Afternoon Everyone,

To coin a phrase, "What Were You Thinking" - I'll bet I know.  If I wait a little longer the price will come down! 

How many times have I heard that statement in the past couple of years?  If I just wait a little longer the price will come down and then I will buy it.   Well perhaps that price did fall a little bit more but now it's gone.  Someone else didn't wait quite as long and now that property you had your eye on is someone else's home. 

Prices are leveling off and in some areas are showing a bit of gain. in.  The foreclosures while still a part of the market are dwindling and more conventional sellers are selling their homes.  That levels the playing field and helps stabilize the marketplace.  

If you are still waiting the time to stop waiting has come.  Interest rates are already starting show signs of increasing but they are still great.  Anything in the single digits is a great interest rate.  The only thing is if they go up and you are right on the edge of being able to qualify for that house you want, you could be bumped out by that interest rate jump.  More down-payment may be necessary or perhaps extra at closing to buy that rate back down.  We are also starting to hear about points being charged for borrowers with lower credit scores.

The industry is starting to show signs of recovery. The volume of inventory is down.  The lower end properties are getting scarce and those that remain usually have some issues.  Sellers are motivated to sell but are not quite as ready to look at those low ball offers they have been dealing with for the past couple of years.  The signs are there, the crisis may be slowing and the time to buy is now!

So to get back to my first statement, no more of "What Were you Thinking?" now it should be "I'm Thinking that it is time to get serious about finding that Perfect Place in the White Mountains!"

Thanks for reading, have a wonderful week! Until next time.....

Sandra Paulow, Associate Broker, GRI, SFR, REALTOR® (928) 242-0300