Market Activity Update

By: Mark Wisterman

My 2013 Photo-Web-Revised


Here is the latest market activity report for the Lake Oroville real estate market.

I apologize that I am not leaving much in the way of comments today. I have a pretty full schedule today that forces me to keep my comments to a minimum.

If there is one number to look at over the past couple of  weeks it is the pending sales numbers at the bottom of the chart. After running in the 80-90 range for the past few weeks it is now below 70 for the past 3 weeks. Look for August closing of Oroville homes to be lower than last year. The overall economy is still facing an uphill battle and the real estate market will continue to reflect this.


MLS Stats for Oroville Area Week Ending Week Ending Week Ending % Change
7/18/2013 7/26/2013 8/1/2013 Previous Week
# of Total Sales 9 12 16 33.33%
# REO/Short Sales Sold (SS) 2 5 6 20.00%
% Sales that are REO/SS 22.22% 41.67% 37.50% -10.00%
Avg. List Price $112,156 $180,675 $141,419 -21.73%
Avg. Sold Price $110,622 $170,692 $137,390 -19.51%
Sold Price % of Listing Price 98.63% 94.47% 97.15% 2.83%
Avg. Days On The Market 46 90 49 -45.56%
Total Sales Volume $995,600 $2,048,301 $2,198,237 7.32%
# of Single Family Listings 195 195 183 -6.15%
# Foreclosed On Market 22 25 19 -24.00%
% of Foreclosed on Market 11.28% 12.82% 10.38% -19.02%
# Short Sales on Market 9 8 7 -12.50%
% Short Sales on Market 4.62% 4.10% 3.83% -6.76%
Days of Inventory Left 152 114 80 -29.62%
# of Pending Sales 67 63 65 3.17%

Weekly Sales Review is Back

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  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


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News Flash: More Completed Transactions To Report

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.


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Another Week Come and Gone

 By: Mark Wisterman

We meet, once again, to review the latest weekly real estate market information for the Lake Oroville real estate market

The number of Oroville home listings that sold this week continue to show increases as does the average price for Oroville real estate market listings that have sold. With $1.75 million in total sales of Oroville homes listed, this was also an above average week for sales volume.

So what the heck is the cause of all these increases? Take a look at the numbers highlighted in red. The number of homes in the greater Lake Oroville area available for sale continues to shrink. Down over 2.5% from the previous week.  It is this number alone, in my opinion, that is driving the rest of the numbers.  In my next post I will spend a little time discussing these low inventory numbers and how I think it is going to affect the Oroville, CA real estate market in the short term and what buyer’s and seller’s can do in the face of the changing real estate market in Oroville.


MLS Stats for Oroville Area Week Ending Week Ending Week Ending % Change
2/28/2013 3/7/2013 3/14/2013 Previous Week
# of Total Sales 9 10 12 20.00%
# REO/Short Sales Sold (SS) 3 5 6 20.00%
% Sales that are REO/SS 33.33% 50.00% 50.00% 0.00%
Avg. List Price $144,367 $132,915 $153,700 15.64%
Avg. Sold Price $140,861 $124,940 $145,925 16.80%
Sold Price % of Listing Price 97.57% 94.00% 94.94% 1.00%
Avg. Days On The Market 64 190 186 -2.11%
Total Sales Volume $1,267,750 $1,249,399 $1,751,100 40.16%
# of Single Family Listings 150 149 145 -2.68%
# Foreclosed On Market 19 17 21 23.53%
% of Foreclosed on Market 12.67% 11.41% 14.48% 26.94%
# Short Sales on Market 9 5 6 20.00%
% Short Sales on Market 6.00% 3.36% 4.14% 23.31%
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Lake Oroville Weekly Home Sales Update

 Home sales for the Lake Oroville real estate market had somewhat of a breakout week this past week as there were significant improvements in the major valuations area of the data.

In addition to big increases in the average list price and the average sold price of the Oroville homes that sold this week, there was a doubling of the total sales volume of homes that closed escrow this week. The sale of distressed homes in the Oroville real estate market (those that are bank owned or were sold for less than was owed on them) continues to hold at levels that have not been seem since the depths of the mortgage mess.

Inventories of Lake Oroville  area homes for sale continue to be constrained which seems to be causing, for lack of a better term, a mini-frenzy among Oroville home buyers who seem to think that there will never be any other  Oroville homes on the market and have allowed themselves, often with the prodding of their agent, to get sucked into the unenviable position of having to engage in auctioneering to buy a home. In an upcoming post I will give you my take on why I have a concern that there may be a mini-bubble developing in the market right now.

MLS Stats for Oroville Area Week Ending Week Ending Week Ending Week Ending % Change
2/7/2013 2/14/2013 2/21/2013 2/28/2013 Previous Week
# of Total Sales 9 8 6 9 50.00%
# REO/Short Sales Sold (SS) 5 2 2 3 50.00%
% Sales that are REO/SS 55.56% 25.00% 33.33% 33.33% 0.00%
Avg. List Price $90,756 $122,516 $117,100 $144,367 23.29%
Avg. Sold Price $86,278 $117,138 $102,525 $140,861 37.39%
Sold Price % of Listing Price 95.07% 95.61% 87.55% 97.57% 11.44%
Avg. Days On The Market 66 178 51 64 25.49%
Total Sales Volume $776,500 $937,100 $615,150 $1,267,750 106.09%
# of Single Family Listings 158 155 150 150 0.00%
# Foreclosed On Market 20 20 18 19 5.56%
% of Foreclosed on Market 12.66% 12.90% 12.00% 12.67% 5.56%
# Short Sales on Market 8 7 7 9 28.57%
% Short Sales on Market 5.06% 4.52% 4.67% 6.00% 28.57%



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Lake Oroville Election 2012

Time to voice your opinion for your favorite candidate in the Lake Oroville Real Estate market.

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Tong Fong Low – 100 Years Young

There is one thing the Lake Oroville real estate market has plenty of and that is places at which to eat.

Yesterday one Oroville’s favorite eateries celebrated its 100 year anniversary.  Here is  a short video of the festivities.



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Keep Your Perspective

It has been far too long since we last had some quality time together.  When I first started this blog it seemed I was blogging 3 or 4 times per week. Lately, though it has been more like 3 or 4 times per year.

Don’t ask me why I had lost my enthusiasm for commenting on the real estate markets of Lake Oroville, Chico, Paradise and the surrounding areas. I guess it just seemed like that I could not muster up an effort to comment on what seemed to be a dismally depressed real estate market.

Lake Oroville

Or maybe I was just dismally depressed.  Whatever the reason, I have been feeling for a while now that it is time to get this blog up and moving forward again. Market conditions both locally and nationally have been changing lately and it seems a good time to get back into the swing of things.

Let’s get restarted by taking a look at this article that I found at Inman News. While reading this “gloom and doom” titled column I want you to tell me what is missing from this article that discusses the state of the foreclosure market on a national level. I think what you do not see in this article is why I have told all of you since the beginning of this blog to keep your perspective on things.  We’ll pick up on our discussion when you get done reading.


So what did you NOT see in this article about the number of foreclosures on the market?

You get a gold star if you said that the word CALIFORNIA did not appear in the article. That’s right, the state that was hit as hard or harder by the foreclosure mess than any other state in the Union does not even get a mention in a report that says the number of foreclosures in this country is still at an all time high.
This is why I keep updated links on this site showing the latest foreclosure filings in, not only the Lake Oroville real estate market, but also the real estate markets of Chico, Paradise, Yuba City and Marysville areas. As they say, all real estate is local. It is ok to keep yourself abreast of the national real estate market, because quite frankly, and I am sorry to say, it seems to be the national numbers that set the mood of the country. But it is your job to set the mood of this state and this local Oroville real estate market by staying informed on the local markets.  Only time will tell, but it seems that the light at the end of the tunnel is no longer a gigantic freight train.

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Introducing Mobile Connect

Seaching for homes in the Oroville real estate market, the Chico real estate market, and the Paradise real estate on your mobile device just got a lot easier and more convenient with the recent release of REALTY WORLD’s Mobile Connect home search program.

 This new platform allows buyers to obtain listing information, nearly instantly, on any residential property for sale in the area in which they are currently located by simply texting  as siImage representing iPhone as depicted in Crunc...mple two letter code. There is even a QR code available for you iPhone and Android users.   No more searching through cumbersome apps like, Zillow and Trulia looking for a specific property that you are standing in front of trying to get updated information. And no more hassles when calling the phone number on a yard sign and getting hold of an agent that has no idea of what property you are asking about.

With this new system you get not only the information on the specific home you are texting for, but you also have the option of seeing the 5 other homes for sale that are closest to the home you are looking at. I have included a couple of links here that will provide further information on this awesome new system. The benefits to buyers and sellers alike are explained in the flyers.

To sign up for this program just give me a call or drop me an e-mail with your cell phone number and I will get you enrolled. As always there is NO CHARGE for this service and there is NEVER any abuse of your contact information. In fact, I will make you this promise: I will not ever call you about any home you inquire about through this system unless you ask me to.

Mobile Connect for Sellers

Mobile Connect For Buyers

Happy House Hunting!!!!!!!!!!!!

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There Goes The Neighborhood?

In the nearly 18 years that I have been actively negotiating on behalf of buyers and sellers in the Lake Oroville real estate market, I have been involved in numerous transactions involving property located in the Kelly Ridge Subdivision.

 For those of you unfamiliar with Kelly Ridge, it is a nice community overlooking Lake Oroville and Bidwell Marina; with a 9 hole golf course intertwined among many of the homes. For the most part it is a quiet neighborhood and pride of ownership is evident as you drive through the community’s winding roads.

As with nearly all subdivisions of this nature, there is an active homeowners’ association (HOA) there, as well as a document called Conditions, Covenants, and Restrictions. (CC&R’s) recorded on each lot in the subdivsion. These CC&R’s are basically a set of rules established as a means of insuring a certain conformity among the homes in the subdivision, which in turn protects the integrity of the subdivision and helps in maintaining property values. For example, most CC& R’s that I have read over the years set minimum lot sizes, minimum square footage requirements, prohibit livestock, require that your RV be parked out of view of the street, and so on. For the most part, the CC&R’s in this area are not as restrictive as they are in the more urban areas, but are just restrictive enough to do the job they were intended to do. Continue reading