Best Realty's Lake Oroville Real Estate Blog

By: Mark Wisterman

Here we are once again, meeting to review the past week’s market activity of Oroville home sales in the Lake Oroville real estate market.
There is not much out of the ordinary to report this week.  The only interesting statistic in this chart concerns the number “distressed” sales (bank owned or short sales) that have taken place 2 of the last 3 weeks. With only one of these sales last week and just 2 of them 2 weeks ago it will be interesting going forward to see if this is an early sign of a trend developing in the sale of Oroville homes or if it is just a temporary slowdown. The next few weeks will tell.
In a recent post on our office Facebook page at http://www.facebook.com/RealtyWorld.CA  I commented about the perception some buyers, and quite frankly their agents, have about prices in today’s Lake Oroville real estate market.  The comment being that there is no factual basis for anyone to make a blanket statement that everything is selling for more that asking price.  In fact for the 4 years that I have been tracking Oroville home sales there have been only 4 weeks where the average sales price has exceeded the average listing price. And not one, I repeat, NOT ONE of those weeks has occurred in 2013. In fact, the average sales price to listing price ratio is pretty much within historic norms. That is certainly not to say that some homes have not sold for more that asking price, because they have. My point here is that, as a buyer in the Oroville real estate market, you need to be sure you are fully informed about what the market is actually doing. It is easy to get sucked into the real estate hype. But do not feel bad if you do because many who work in the industry get sucked into it to. The reason: They do not take time to actually look at the numbers.
Lucky for you, you have this Lake Oroville real estate market blog site to help you stay on top of the numbers.
 

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

5/2/2013
5/9/2013
5/16/2013
Previous Week

# of Total Sales
10
13
10
-23.08%

# REO/Short Sales Sold (SS)
2
7
1
-85.71%

% Sales that are REO/SS
20.00%
53.85%
10.00%
-81.43%

Avg. List Price
$132,430
$141,500
$138,350
-2.23%

Avg. Sold Price
$127,195
$130,244
$132,445
1.69%

Sold Price % of Listing Price
96.05%
92.05%
95.73%
4.01%

Avg. Days On The Market
57
96
94
-2.08%

Total Sales Volume
$1,271,950
$1,693,169
$1,456,900
-13.95%

# of Single Family Listings
151
158
156
-1.27%

# Foreclosed On Market
17
21
20
-4.76%

% of Foreclosed on Market
11.26%
13.29%
12.82%
-3.54%

# Short Sales on Market
9
6
8
33.33%

% Short Sales on Market
5.96%
3.80%
5.13%
35.04%

Days of Inventory Left
106
85
109

By: Mark Wisterman

Here is the second installment of the newest feature that was recently added to this Lake Oroville real estate market blog.
I call this video feature “Mark’s Real Estate Minute (or 2). Why the “or 2?” Because I have quickly found that I talk to darned much and there is NO WAY that I will every be able to limit these spots to 1 minute!!!! The latest and greatest of these spots will always be on the sidebar of this site for easy access.
I will periodically produce these spots to provide my perspective and advice on a wide array of topics including those you may like to hear about. A lot of changes are once again taking place in the Oroville real estate market and I think it is absolutely essential that you have as much information about Oroville market conditions, as well as market conditions in the greater Butte County real estate market area.
As the old saying goes, “Information is Power.”  And this is exactly what I want to provide to you; the power to make the right decision regarding your real estate needs.  It is my hope that I can pack enough info into each one of these ‘minutes’ to make a difference.
To make this little corner of  this blog site work I am going to need your help. Please e-mail or text or IM me at my Facebook page with any questions or topics that you would like to have addressed.

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By: Mark Wisterman
It is time, once again, for everyone living in and visiting the Lake Oroville real estate market to take time out from the hustle and bustle of their busy lives to enjoy the community celebration know as Feather Fiesta Days.
With the centerpiece of the festivities being the 66th annual Fiesta Days Parade of May 11, 2013, the City traditionally turns out in huge numbers to partake of the many venues of entertainment that have become part of the fabric of our community.
Enjoy this short video of last year’s activities.

http://www.youtube.com/watch?v=XkJY1UJAAUw

 
 
 
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By: Mark Wisterman
Congratulations to our agents who worked so hard to complete these transactions in the Lake Oroville real estate market. View the video for details.
 

By: Mark Wisterman

Sellers in the Lake Oroville real estate market, as well as those in the Paradise, Chico, and other Butte County real estate markets, are currently experiencing the makings of a perfect storm for home prices.
Buyers finally jumping off the fence to take advantage of the low government suppressed interest rates and the increased affordability brought on by an over-correction in housing values, are finding difficulties in having a home because inventories of homes for sale continues to shrink.  Fewer foreclosures coming to market and potential home sellers who can’t sell  because they owe more that their home is worth on the open market, are providing plenty of opportunities for current sellers to stand firm on their pricing.
I invite you to watch my latest vlog post for my take on the whole situation. And, as always, I welcome your comments. Especially yours, Eric!