Best Realty's Lake Oroville Real Estate Blog

 Hello again Paradise CA real estate market watchers and welcome back to your weekly stats. There is really not anything of note in this weeks’s report. With the deadline to qualify for any type of homebuyer tax credit fast approaching, I would expect to seeing some upward movements in the stats over the next 4-6 weeks.

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

 
2/19/2010
2/26/2009
3/5/2010
Change

# of Total Sales
2
16
9
-43.75%

# REO/Short Sales Sold (SS)
1
7
4
-42.86%

% Sales that are REO/SS
50.00%
43.75%
44.44%
1.59%

Avg. List Price
$269,250
$161,546
$171,789
6.34%

Avg. Sold Price
$254,000
$151,912
$158,378
4.26%

Sold Price % of Listing Price
94.34%
94.04%
92.19%
-1.96%

Avg. Days On The Market
24
87
101
16.09%

Total Sales Volume
$508,000
$2,430,600
$1,425,402
-41.36%

# of Single Family Listings
148
225
227
0.89%

# Foreclosed On Market
18
29
30
3.45%

% of Foreclosed on Market
12.16%
12.89%
13.22%
2.54%

# Short Sales on Market
17
24
25
4.17%

% Short Sales on Market
11.49%
10.67%
11.01%
3.25%

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Housing market is ripe for ‘fixer-uppers’  seattletimes.nwsource.com)
Short Sales of Real Estate Increase Sharply  seekingalpha.com)

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)
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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

 Now, before you get too excited about the change in sales for the Paradise real estate market compared to last week, you need to know that I have made a change in the areas that I am tracking for you.  Due to popular demand I have now added the Magalia area to my Paradise CA weekly reporting.  Reporting on a larger geographical area will smooth our the wild swings in the numbers that sometime occur with smaller samples of numbers. Stay tuned for future reports.

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

 
2/12/2010
2/19/2010
2/26/2009
Change

# of Total Sales
7
2
16
700.00%

# REO/Short Sales Sold (SS)
2
1
7
600.00%

% Sales that are REO/SS
28.57%
50.00%
43.75%
-12.50%

Avg. List Price
$126,442
$269,250

$161,546

-40.00%

Avg. Sold Price
$113,142
$254,000
$151,912
-40.19%

Sold Price % of Listing Price
89.48%
94.34%
94.04%
-0.32%

Avg. Days On The Market
107
24
87
262.50%

Total Sales Volume
$791,994
$508,000
$2,430,600
378.46%

# of Single Family Listings
148
148
225
52.03%

# Foreclosed On Market
18
18
29
61.11%

% of Foreclosed on Market
12.16%
12.16%
12.89%
5.98%

# Short Sales on Market
17
17
24
41.18%

% Short Sales on Market
11.49%
11.49%
10.67%
-7.14%

 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%