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Market Trends
Commentary Provided byGlenn Tinturin There certainly seems to be more buyer interest and activity just since the beginning of the year. There is also a growing inventory, which will continue to grow as we move into spring and summer. However, we are now also experiencing an increase in buyer activity and closed sales. |
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| Report Date | Fall 2009 | ||
| Nearest Metro Area | San Bernardino / Redlands | ||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | 90-120 days | ||
| Market Trend | Decreasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Inventory Comments | As we are moving into our 'Season' Sellers are putting their homes on the market hoping for a quick sale during the summer months. So, this is tending to drive inventory up a bit. However, we are also getting more Buyers now, too. | ||
| Average Home Price | $475,000 - View Graph Trend | ||
| Best Selling Price Range | $250,000 - $299,000 | ||
| Worst Selling Price Range | $750,000 - $799,000 | ||
| Compared to Last Year | Down 5-10% | ||
| Prices As % of Asking Price | 95-100% | ||
| Multiple Offers? | Yes | ||
| Multiple Offers Commentary | Sellers are finally learning that they must price their homes properly in order to be competitive and sell in today's marketplace. | ||
| Greatest Activity | Repeat Buyers | ||
| Buyer Activity for the past 90 days in Lake Arrowhead is | Increasing | ||
| Seller Activity for the past 90 days in Lake Arrowhead is | Increasing | ||
| Is Financing Available For Qualified Buyers in Lake Arrowhead? | Yes | ||
| Comments on Financing For Qualified Buyers | Be sure to get Pre-Approved before going out to look for a home. Most Sellers are now requiring Pre-Approval letters be submitted together with all offers. If you do not have a local lender, please give me a call and I'll be happy to refer one to you. | ||
| Existing Home Prices for the past 90 days are | No Change | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% | ||
| Housing Hot Spots | Arrowhead Woods. For lower priced properties, Twin Peaks, Cedar Glen, Crestline, and Running Springs have been very active. | ||
| Reason to Buy/Sell | When you buy a home in Lake Arrowhead CA, you get much more than a house -- you get a lifestyle. Lake Arrowhead is a resort community a mile high in the San Bernardino Mountains of Southern California. Only an hour and a half drive from Los Angeles, it is an ideal place to dash off to for a weekend, a week, or a lifetime. You can easily get away from it all. Or, you can just as easily play an active role in our community. Additionally, current low prices with good selection of homes and competitive interest rates creates a perfect time to buy in Lake Arrowhead! | ||
| Average Sold Price | $475,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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Lake Arrowhead Local News
News for Lake Arrowhead, CA - Tuesday November 17th, 2009 11:40am
It's another beautiful morning here in Lake Arrowhead. The skys are clear and the air is crisp at about 37 degrees Farenheit this morning. As we move out of our selling season and get ready for our winter months, Lake Arrowhead California is now down to 375 Active Residential Listings in Arrowhead Woods and Lakefront, and 735 Active Residential Listings mountain wide from Green Valley Lake to Crestline. This is not just seasonal, however. Due to Sellers finally pricing their homes at true market value, and home Buyers on the increase, our inventory has slimmed down considerably. Interest rates are below 6% and banks are ready to loan money. There are special programs for first time home buyers where they might qualify for applying their tax credit towards their closing costs or additional down payment. The first time home buyer tax credit has been extended through April 2001 and has been expanded to include current home owners. There are some conditions, so be sure to consult your accountant or tax advisor. There is not excuse why you shouldn't buy a home now in Lake Arrowhead CA. For assistance or more information, visit our Lake Arrowhead Real Estate website or contact Glenn Tinturin at 909-336-6733.
News for Lake Arrowhead, CA - Wednesday June 17th, 2009 6:24pm
It's another beautiful morning here in Lake Arrowhead. The skys are clear and the air is crisp at about 37 degrees Farenheit this morning. As we move out of our selling season and get ready for our winter months, Lake Arrowhead California is now down to 375 Active Residential Listings in Arrowhead Woods and Lakefront, and 735 Active Residential Listings mountain wide from Green Valley Lake to Crestline. This is not just seasonal, however. Due to Sellers finally pricing their homes at true market value, and home Buyers on the increase, our inventory has slimmed down considerably. Interest rates are below 6% and banks are ready to loan money. There are special programs for first time home buyers where they might qualify for applying their tax credit towards their closing costs or additional down payment. The first time home buyer tax credit has been extended through April 2001 and has been expanded to include current home owners. There are some conditions, so be sure to consult your accountant or tax advisor. There is not excuse why you shouldn't buy a home now in Lake Arrowhead CA. For assistance or more information, visit our Lake Arrowhead Real Estate website or contact Glenn Tinturin at 909-336-6733.
News for Lake Arrowhead, CA - Monday June 15th, 2009 3:32pm
The weather is actually beautiful today here in Lake Arrowhead California. Even though they say we might get some drizzle tomorrow morning, it's bright and sunny today. My favorite event is happing this coming weekend, The Lake Arrowhead Art and Wine Festival.
The 26th Annual Lake Arrowhead Rotary Art and Wine Festival will be held at Tavern Bay. The hours are Saturday from 10:00a.m. to 7:00p.m. and Sunday from 11:00a.m. to 4:00p.m. This is a wonderful opportunity to sip on different fine wines while you stroll in the park looking at fine art, crafts, and jewelry in the beautiful lakeside setting of Tavern Bay, Lake Arrowhead. For more information on this or on any Lake Arrowhead Real Estate, be sure to visit ArrowheadRealEstate.com or contact Glenn Tinturin at 909-336-6733.
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