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Market Trends
Commentary Provided byGlenn Tinturin There certainly seems to be continued buyer interest and activity. As we move into Spring, now is the time for Buyers to take advantage of the good inventory of homes from which to choose. Also, if you are a first time home buyer or even an existing home owner, now is the time to take advantage of the tax benefits which will be expiring at the end of April. You must have your contracts dated and in escrow before April 30th and close escrow by June 30th. |
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| Report Date | Spring 2010 | ||
| Nearest Metro Area | San Bernardino / Redlands | ||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | More than 120 days | ||
| Market Trend | Increasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Inventory Comments | As we are once again moving into our 'Selling Season' Sellers are putting their homes on the market hoping for a quick sale during the spring and summer months. So, this is tending to drive inventory up quite a bit. With 40 homes going into escrow this past 30 days, and another 96 new listings in 30 days bringing the total to 590 active listings currently on the market, you can see that we have plenty of inventory. These available homes are spread unevenly across the price ranges, with the bulk of them over $350,000. We are starting to get more Buyers now, too. So, we'll see what happens next. | ||
| Average Home Price | $475,000 - View Graph Trend | ||
| Best Selling Price Range | $150,000 - $199,000 | ||
| Worst Selling Price Range | $750,000 - $799,000 | ||
| Compared to Last Year | Down 5-10% | ||
| Prices As % of Asking Price | 95-100% | ||
| Multiple Offers? | No | ||
| Multiple Offers Commentary | The properly priced, low end, bank owned homes are seeing multiple offers. But, this is the exception, not the rule. | ||
| Greatest Activity | Investors | ||
| 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 to 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. This is extremely important. You want to use a lender from the Lake Arrowhead area who can guarantee you that they will use only appraisers who are intimately familiar with our very unique mountain area. This is a must if you want as smooth a transaction as possible. Call or email me for a referral. | ||
| Existing Home Prices for the past 90 days are | Decreasing | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 15-20% | ||
| 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 and an hour from Palm Springs, 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. And, you can just as easily play an active role in our community. This is also the perfect time - or | ||
| 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 from Lake Arrowhead, CA - Friday March 12th, 2010 8:07pm
Am I ready for Spring? OMG you betcha! Although our winter has been wonderful and certainly needed here in Lake Arrowhead, and our lake is now full to the brim, I did get more than my fill of shoveling snow this winter. So, when I walk out my front door and see the new sprouts on my rose bushes, it really brings a smile to my face. And, with the real estate market still prime for Buyers, now is the perfect time to come up to paradise and find your perfect vacation home or your full time piece of heaven.
New Years in Lake Arrowhead, CA - Thursday December 31st, 2009 5:47pm
Here I am, a mile above it all, in one of the most beautiful places on earth. Where else would I want to be to celebrate the New Year? Rhetorical, of course! Nowhere else would be quite right. Unless you are the type of person who wants to be in the middle of millions of people going crazy in Times Square. Not me, thank you. I'll take Lake Arrowhead every time. Today: blue skys, a fresh 45 degrees, and just perfect for a nice walk outdoors. I think I'll do the same tomorrow after watching the Rose Parade on TV. After that, I already have an appointment to show some properties. Happy New Year, everyone!
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.
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