Best Realty's Lake Oroville Real Estate Blog

Here are the numbers for last week’s Lake Oroville real estate market. This is the third week in a row that the number of Oroville home sales has been in single digits, and the 7th week out of the past 8 for this. With inventories still low, and a lot of that inventory in disrepair it is becoming more and more difficult to find properties for Oroville area buyers.  All of my team members have pools of buyers that they simply cannot find decent properties to show them.

MLS Stats for Oroville Area
Week Ending
Week Ending
Week Ending
Weekly % 

 
2/15/2010
2/22/2010
3/1/2010
Change

# of Total Sales
9
8
7
-12.50%

# REO/Short Sales Sold (SS)
4
5
4
-20.00%

% Sales that are REO/SS
44.44%
62.50%
57.14%
-8.57%

Avg. List Price
$108,188
$116,644
$141,085
20.95%

Avg. Sold Price
$98,722
$109,500
$137,482
25.55%

Sold Price % of Listing Price
91.25%
93.88%
97.45%
3.80%

Avg. Days On The Market
67
53
111
109.43%

Total Sales Volume
$973,692
$933,152
$987,595
5.83%

# of Single Family Listings
291
287
288
0.35%

# Foreclosed On Market
35
31
34
9.68%

% of Foreclosed on Market
12.03%
10.80%
11.81%
9.30%

# Short Sales on Market
46
44
39
-11.36%

% Short Sales on Market
15.81%
15.33%
13.54%
-11.67%

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Existing Home Sales Settling Down  seekingalpha.com)
February real estate sales up sharply (cbc.ca)

What a Great place the Lake Oroville area is to live. Here are some of the sights eye saw on my way to work this morning. I drove up from my house to Brownsville where I am selling a home.

Lake Oroville is much fuller but still needs more water.


The mountain community of Forbestown. Stop at the Forbestown Store and have a deli sandwich and a drink.

I got to drive thru a creek on my way to work.  It was a great morning.

Nice little mountain town.
Have a good weekend.
Buy Buy Now.

This is the 200th  post for thisLake Oroville & Paradise, CA real estate market blog. For a milestone such as this you might think that I would have something profound to impress upon you about the housing market in the Lake Oroville and Paradise, California areas.
To tell the truth, I actually considered that. But I came upon something yesterday that changed my mind about how to celebrate this monumental moment.
The hard drive on the computer that I use in my day to day operations is getting a little full. Ok, it is almost totally full. The hard drives on all my computers are  like my garage and storage area at my home.  I have a hard time throwing anything out. After all, I might need that stuff someday.
But, the time had finally come to clean house in a cyberspace sort of way.  As I was deleting files to make room for those that are now more important,  I came upon some old ad copy that I had written more than 10 years ago for listings that we were marketing back in the days when I was working with Bob Beever Realty.
Given the condition of the housing market in Oroville and Paradise, I thought you might enjoy a look back at some of those ads. See, I told you I might need them some day!!!

Ad copy for 9/30/99
 HARD TO FINDfive acres with well and 3 bd septic. Close to airport, golf, fishing and boating at Afterbay. Power readily accessible. Owner will carry with low down. Asking $45,000
 BANK REPO! 3bd 2ba 1980 mobile on 4 level acres. Has potential but needs work. Seller willing to finance for a long long long time with low low low down. Only $34,900
 TRIPLEX close to downtown. Seller motivated to sell quickly. Almost no vacancy rate. Assume favorable financing or ask seller to carry some paper. All offers considered. $114,900
 BEAUTIFUL VALLEY VIEW: Level to gentle sloping 5 acre parcel. Power close, minutes to lake, and you can almost see forever from here. Just $37,000
 ALMOST DESPERATE sellers need quick sale on this gorgeous property. Over 2700 sq ft incl. finished basement, 2 kitchens, 2 fireplaces, 24X48 shop, fenced pasture, small citrus grove. All on five acres close to town. Recently reduced to $198,000
 OUT OF TOWN SELLER can’t play landlord anymore. This home would make good rental or be perfect for buyer on small budget. Only $35,500
COPY FOR 12/3 – 12/4 1999
 
CLOSE TO LAKE.3bd 2 ¾ ba. 2200+ sq ft., tiled kitchen, huge garage w/ office, in-ground pool, lg. Hot tub, covered redwood deck. Asking $182,500
WELL AND SEPTIC IN. 5+ acres only 3.5 miles from town. Power very close-by.  Owner/broker will carry. Only $45,000
GREAT NEIGHBORHOOD. 2/1 on McClellan Ave. Covered patio, nicely landscaped, same owner since 1956. Seller motivated. $62,000
END OF THE CUL-DE-SAC. 3/1 on approx. ½ ac lot. Central heat and air, attached garage, large backyard with electric gate opener. Only $72,500
OVER 5 ACRES WITH A VIEW. Well and septic are in, power is adjacent. Your choice of 2 building pads. Paved driveway. Just minutes to lake.  $59,500
PRICE REDUCED. 2/1 close to downtown. Out of town seller is desperate for quick sale. Now only $33,500
ESTATE SALE  4 bd 2ba  approx 1800 sq ft. Lg living rm w/ fireplace and insert. Great location. ¾ acre lot. Asking $79,500

 Another ho-hum week for Lake Oroville real estate market as sales activity continues to under perform. But once again we find that the inventory of Oroville homes for sale has dropped to another low. 
If the current activity in the office of our Oroville market is any indication we may soon be seeing a change in these sales numbers. Our Oroville agents have been very busy this week showing property and writing offers. It is good to see that maybe the spring-like weather is bringing buyers out.
If you are thinking of selling, now might be the time to get your home on the market.

MLS Stats for Oroville Area
Week Ending
Week Ending
Week Ending
Weekly % 

 
2/8/2010
2/15/2010
2/22/2010
Change

# of Total Sales
8
9
8
-11.11%

# REO/Short Sales Sold (SS)
5
4
5
25.00%

% Sales that are REO/SS
62.50%
44.44%
62.50%
40.63%

Avg. List Price
$156,674
$108,188
$116,644
7.82%

Avg. Sold Price
$149,800
$98,722
$109,500
10.92%

Sold Price % of Listing Price
95.61%
91.25%
93.88%
2.88%

Avg. Days On The Market
303
67
53
-20.90%

Total Sales Volume
$1,253,392
$973,692
$933,152
-4.16%

# of Single Family Listings
308
291
287
-1.37%

# Foreclosed On Market
36
35
31
-11.43%

% of Foreclosed on Market
11.69%
12.03%
10.80%
-10.19%

# Short Sales on Market
49
46
44
-4.35%

% Short Sales on Market
15.91%
15.81%
15.33%
-3.01%

Of all the real estate blog posts I have read over the past year, very few, if any attempt to get a feel for what their readers think. In fact most of what I see out there in the blogosphere are glorified advertisements touting the author as the only person you should be using to help you buy or sell your next home.
In our office in the Lake Oroville and Paradise real estate markets we attempt to provide not only real estate market information on our blogs, but also a good mix of what is going on in our communities. And while it is easy to provide comment and feedback to each of our posts we realize that not everyone has the time in their hectic lives to sit down and submit written comments on any particular blog post.
Well, providing your opinion just got easier for those interested in the Paradise andLake Oroville housing markets. With the newest feature to my blog site having just been released by REALTY WORLD  you can now provide your opinion with just a quick mouse click or two on what will be a broad range of real estate topics, and even some topics that have nothing to do with the local real estate markets.
Introducing the Poll Question of the Month. Each month (or more often if you wish) I will post a question that you can answer quickly and easily. To the right of this post you will see this month’s question asking your opinion on where you think real estate prices are headed. Simply click on your answer and then click the VOTE button. It really is that easy.
And better yet, if you have a question you would like to see made part of the poll,  just drop me an e-mail and I will consider using your question.
Let me know what you think. This site is as much yours as it is mine.