Posts Tagged ‘Oroville California’

New Property Video Tour Premier

| Mark Wisterman

Welcome to my newest video tour for the Lake Oroville area real estate market. I hope these videos are helpful to all of you looking for a home for sale in the real estate market of Oroville. I always appreciate any feedback you are willing to give me about these Oroville home property videos.       [Read More]

Welcome to my newest video tour for the Lake Oroville area real estate market.

I hope these videos are helpful to all of you looking for a home for sale in the real estate market of Oroville. I always appreciate any feedback you are willing to give me about these Oroville home property videos.

Weekly Market Report

| Mark Wisterman

  Hello once again everyone and welcome back to my latest report on market activity for the Lake Oroville real estate market. As has been the case over the last number of weeks, this weeks market activity is extremely light. While it is good for sellers that values have improved, it would not be a […]       [Read More]

 

Hello once again everyone and welcome back to my latest report on market activity for the Lake Oroville real estate market.

As has been the case over the last number of weeks, this weeks market activity is extremely light. While it is good for sellers that values have improved, it would not be a healthy situation if the weekly number of homes selling stays at the level at which it currently finds itself. In fact, sales numbers for the first two months of 2014 have Oroville homes sales on the slowest pace in over 6 years.

It will be interesting to see what kind of bounce the Oroville real estate market  get during the historically busier Spring months of  March, April, and May

 

MLS Stats for Oroville Area Week Ending Week Ending % Change 6 Month
2/27/2014 3/6/2014 Previous Week Average
# of Total Sales 7 6 -16.67% 9
# REO/Short Sales Sold (SS) 1 4 75.00% 2
% Sales that are REO/SS 14.29% 66.67% 78.57% 24.31%
Avg. List Price $146,257 $136,650 -7.03% $156,017
Avg. Sold Price $135,286 $134,583 -0.52% $150,150
Sold Price % of Listing Price 92.50% 98.49% 6.08% 96.39%
Avg. Original List Price $146,543 $146,917 0.25% $164,190
Sold Price % of Original Price 92.32% 91.60% -0.78% 91.72%
Avg. Days On The Market 37 52 28.85% 76
Total Sales Volume $947,000 $807,500 -17.28% $1,310,408
# of Single Family Listings 180 181 0.55% 169
# Foreclosed On Market 10 11 9.09% 13
% of Foreclosed on Market 5.56% 6.08% 8.59% 7.92%
# Short Sales on Market 11 11 0.00% 9
% Short Sales on Market 6.11% 6.08% -0.56% 5.17%
Days of Inventory Left 180 211 14.76% 157
Data compiled from the CRMLS multiple listing service for single family homes in the
Greater Oroville real estate market area including the areas of Oroville, Palermo, Concow,
Forbestown, Bangor, Berry Creek, Brush Creek, Honcut, Yankee Hill
Information deemed reliable but not guaranteed.
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Weekly Sales By the Month

| Mark Wisterman

By: Mark Wisterman Whoever “they” is says that everything happens for a reason. That must be why it has been over a month since we visited regarding the weekly state of the Lake Oroville real estate market. In all honesty as each week came and went, and because I am certainly not a professional blogger […]       [Read More]

By: Mark Wisterman

My 2013 Photo-Web-Revised

Whoever “they” is says that everything happens for a reason.

That must be why it has been over a month since we visited regarding the weekly state of the Lake Oroville real estate market. In all honesty as each week came and went, and because I am certainly not a professional blogger by any means, I struggled to find the words I thought were needed to summarize each week’s activity. Especially given the fact the not much was different from one week to the next.

But just like “they” said, I now think I know the reason. Over the past 5 weeks in the Oroville real estate market we have seen a widening gap between  Lake Oroville area home’s original asking price and the price at which it actually sells.  To see this trend more clearly here is the “Reader’s Digest” version of my weekly Lake Oroville homes sales report.  Here is what I think you can take away from this information, especially if you are a seller:

1. The widening gap between between original list price and the final sales price of Oroville area homes shows that some agents have demonstrated an “irrational exuberance” in pricing homes for their sellers when valuations bounced off the overdone drop in values.  Remember that many agents will purposely recommend an inflated price to get the seller to list the home for sale and then go back in a couple of weeks to convince the seller that the price needs to be reduced.

2. The inventory of homes is NOT loosening up as many homeowners, who would like to sell their Lake Oroville homes, still owe more on their mortgages than their home are worth. It is my belief that we will not see any significant increase in Lake Oroville area homes on the market until values get back to 2005-2006 levels, which, for many Oroville homeowners, could be more than a couple of years from now, or, the banks release more homes onto the market. ( if they actually have any to put on the market). Whether it be one or both of these things that occur, once it does, the rate that values have been increasing over the past 6 months will be a thing of the past and may actually back track somewhat. In other words, putting your home on the market now ( if you are able to) may be the best time to do so.

3. Based on the activity level in my office, the lack of an increase in the number of “Pending” sales is the a result of a shortage of quality, reasonably price homes on the Oroville market. As a homeowner who is considering the possibility of placing your home on the Lake Oroville real estate market you should seriously consider your price-point. It is easy to get wrapped up in the hype that you can promptly sell your home even if you price it a little high, because “you can always come down when an offer comes in.” But remember this: Quality, experienced, knowledgeable buyers agents will not show obviously overpriced homes to their clients and they won’t waste everyone’s time by writing an offer on one either. They will just patiently wait on you to reduce your price and then make a offer even lower than that.

MLS Stats for Oroville Area Week Ending Week Ending Week Ending Week Ending Week Ending
11/7/2013 11/14/2013 11/21/2013 11/28/2013 12/5/2013
Avg. List Price $188,044 $131,322 $145,620 $129,785 $154,580
Avg. Sold Price $189,978 $130,044 $140,840 $124,746 $149,700
Sold Price % of Listing Price 101.03% 99.03% 96.72% 96.12% 96.84%
Avg. Original List Price $196,717 $141,378 $150,020 $139,008 $169,780

Sold Price % of Original Price

96.57%

91.98%

93.88%

89.74%

88.17%

# of Single Family Listings

173

173

169

167

165

# of Pending Sales

63

67

67

67

67

Data compiled from the CRMLS multiple listing service for single family homes in the
Greater Oroville real estate market area including the areas of Oroville, Palermo, Concow, Forbestown, Bangor, Berry Creek, Brush Creek, Honcut, Yankee Hill
Information deemed reliable but not guaranteed.

 

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Good News On The Horizon??

| Robin Anderson

THE 2014 California  Association Of Realtors projection for the housing market has been released. To quote:  ”After distressed sales lost their hold on much of California’s market, the state’s housing market will continue to improve in 2014, with sales shifting toward primary home buyers and both sales and home prices posting further gains, according to […]       [Read More]

sunriseTHE 2014 California  Association Of Realtors projection for the housing market has been released.

To quote:  ”After distressed sales lost their hold on much of California’s market, the state’s housing market will continue to improve in 2014, with sales shifting toward primary home buyers and both sales and home prices posting further gains, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2014 California Housing Market Forecast,” released today.

The C.A.R. forecast sees sales gaining 3.2 percent next year to reach 444,000 units, up from the projected 2013 sales figure of 430,300 homes sold.  Sales in 2013 will be down 2.1 percent from the 439,400 existing, single-family homes sold in 2012.

“The housing market has improved over the past year, and we expect this trend to continue into 2014,” said C.A.R. President Don Faught.  “As the economy enters the fourth year of a modest recovery, we expect to see a strong demand for homeownership, as buyers who may have been competing with investors and facing an extreme shortage of available housing return from the sidelines.”

As a Realtor doing business in Oroville, CA  this news is most encouraging! As we here in our office have numerous discussions on the past, current and future market and are always keeping a vigilant watch on the real estate trends such as the current pricing and inventory along with the fluid interest rates, not to mention the partial government shut down and it’s effect or lack thereof in some instances.

I look forward to 2014 and the improvements spoken of.

For now, I will cherish every day and my blessings. I will continue to be diligent in showing the Oroville homes to interested Buyers, or the Oroville vacant lands to those looking for that opportunity to develop their own slice of paradise. Our housing and bare land prices are very affordable and I do enjoy being one of the many tour guides for those new to our area and show them all of our amenities here, such as Lake Oroville, the mighty Feather River and it’s jumping salmon and awesome beauty, Bald Rock, and plethora of picturesque settings.

http://www.car.org/newsstand/newsreleases/2013releases/2014forecast

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Promoting the Business and Service spirit in Oroville

| Robin Anderson

OROVILLE. For those of you who don’t know Oroville, I will be doing a blog fest introducing local businesses and what they offer. Oroville is comprised of alot of the “Mom and Pop” stores with some big corporations mixed in. A nice combination. We have alot of hard-working and honest entrepreneurs in our midst bringing […]       [Read More]

OROVILLE. For those of you who don’t know Oroville, I will be doing a blog fest introducing local businesses and what they offer. Oroville is comprised of alot of the “Mom and Pop” stores with some big corporations mixed in. A nice combination.

We have alot of hard-working and honest entrepreneurs in our midst bringing us unique offerings and/or services in a hometown atmosphere. That is not to say that we are left behind in the ages but rather a blend of old and new.  Some business owners are from here and some have come to visit and ended up staying. No, not the Hotel California kind of staying but rather, a choice!

Whether I am going to town for a specific need or driving clients around town and out-lying areas to look at Oroville real estate, or just beebopping around taking photos of our gorgeous Oroville lake, Feather River, and other beautiful areas to post..it is just comfortable here.

Stay tuned, same bat channel, different day to learn about the great businesses and services Oroville has to offer.