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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

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.

In our office in the Lake Oroville and Paradise real estate markets we attempt to provide not only real estate market information on our blogs, but also a good mix of what is going on in our communities. And while it is easy to provide comment and feedback to each of our posts we realize that not everyone has the time in their hectic lives to sit down and submit written comments on any particular blog post.

Well, providing your opinion just got easier for those interested in the Paradise andLake Oroville housing markets. With the newest feature to my blog site having just been released by REALTY WORLD  you can now provide your opinion with just a quick mouse click or two on what will be a broad range of real estate topics, and even some topics that have nothing to do with the local real estate markets.

Introducing the Poll Question of the Month. Each month (or more often if you wish) I will post a question that you can answer quickly and easily. To the right of this post you will see this month’s question asking your opinion on where you think real estate prices are headed. Simply click on your answer and then click the VOTE button. It really is that easy.

And better yet, if you have a question you would like to see made part of the poll,  just drop me an e-mail and I will consider using your question.

Let me know what you think. This site is as much yours as it is mine.

The advice has been taken so seriously in fact that a new dilemma is now facing potential Oroville and Paradise buyers: A lack of adequate inventory!

Suffering from significant loses in the value of their homes, many Oroville and Paradise potential home sellers have decided to wait for the market to get “better” before putting their homes on the market. What the definition of “better” is remains to be seen, but a look at the trend in the Oroville inventory numbers (see chart) points to a need for some sellers to get off the fence themselves and take advantage of the lower interest rates, and the increase in buyer inquiries we are beginning to experience.

Granted, home prices are not what they were in 2006, but if you are waiting for a return to those prices, you are in for a very long wait. Those prices were a result of very loose and irresponsible lending standards. They were not driven by free market demand.

So what is a seller to do? Well, that depends on your circumstances. If you do not need to sell, then DON’T. If you are considering a sell but are thinking about waiting for a year or so for the market to improve, you may be outsmarting yourself. While it is possible (isn’t anything possible) that prices may move up in the next year, it is not very probable. I continue to think that we are at the bottom of this market but that we will be bouncing along the bottom for quite some time. Maybe two to three years before we see any consistent price appreciation trends in our local markets.

Historically low interest rates, and lower prices have significantly increased the home affordability for Californians. An increase in either of these factors will exclude potential buyers from the market further delaying any meaningful recovery.

Another thing to consider when contemplating a sale is how many other homes are on the market that compete for the attention of potential buyers. With inventories at an 8 month low, now would be the best time for your home to be seen by the most buyers.

I know that many of you are upside down with your mortgages at the present time and NEED to wait for a significant turn in home values. But for those of you who owe less than the value of your home or own your homes outright, this may be a good time to think about getting off the fence.

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The one encouraging thing to take from the week’s meager numbers is the fact that the average Paradise home sale was over $250,000 and the average time that each of these two homes were on the market was only 24 days. From the seller’s side of the equation it is good to see higher prices homes selling quickly.  Hopefully we will have more substantial numbers to discuss next week.

Earlier this week I received an interesting article from Lorna Joseph, the Branch Manager of our local Bidwell Title and Escrow office, that has been published by the California Land Title Association.  The article discusses some of the potential new issues that may come about as the expansion of the use of solar energy continues to grow.

Most specifically it discussess the need for solar users or potential solar users to consider the consequences of not having guaranteed access to the sun.  I know, I know, everyone has access to the sun right? All you have to do is walk outside on a clear day in the Lake Oroville or Paradise real estate markets and the sun is so bright that you gotta wear shades. While that is true for you, it may not be true for your home.

The article asks you to consider what may happen when you have your solar collectors installed to catch the most amount of light, only to have your next door neighbor plant some trees or do some home remodeling that blocks, or significantly inhibits, the sunlight from reaching the collector panels. Imagine spending $30,000 – $40,0000 for a solar energy system only to have it rendered useless by two or three big trees.

The most practical solution to this issue, according to the article would be the negotiation of easements between property owners where one property owner would receive assurances from the other that the sunlight which travels over the neighbor’s property would always be available. Of course this assurance is going to have a price attached to it. But if reasonable, the price may be more that offset in the energy saving cost realized by the solar owner.

It seems to me that this is going to be a very thorny issue going forward as more and more homes become solar equipped.  With the number of tall pines in the town of Paradise, for example, it could be nearly impossible to procure a sunlight easement as you may need 3 or 4 homeowners to grant an easement to their sunlight. Negotiating an easement with one homeowner is difficult enough. Trying to negotiate with more than one may take divine intervention.

The moral of the article: As with anything, be sure to plan ahead and consider all the pluses and minuses before moving ahead with any home project.

READ THE ENTIRE ARTICLE

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As it has been over the past few months, the number to pay close attention to is the inventory number. The number of homes for sale in the Oroville market are at their lowest point in nearly a year. Breaking below 300 for the first time since I began tracking the number. While a lower inventory of homes is normally good for prices, it can have an adverse effect on the market if the number gets too low. An inadequate number of homes for buyers to look at runs the risk of causing buyer frustration and shoving some of them back to the sidelines to wait for inventories to increase.

Well, enough from me today.  Here are this week’s numbers.

Expanded Lake Oroville Sales Stats