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!