Buyers Beware

If there was ever a reason to use the time-tested phrase of Buyers Beware, this is it.

This type of thing has been going on for a long time, and not just in the real estate market of the Lake Oroville area. Just think how much money these type of companies are coaxing out of unsuspecting new homeowners. If they only get a 10% participation rate they would be raking in millions of dollars. Don’t fall for it folks.

Weekly Sales Update

Neither rain, nor sleet, nor snow, nor Arizona trip, will keep me from providing you, my loyal Lake Oroville real estate market readers, with the weekly sales activity number for last week.

You heard right, I am actually taking a few days of southwest r& r. But fear not, I have not forgotten my duty to you.

I hope you all had a great and blessed Christmas day and that you are planning for a safe New Years celebration.

Sales numbers for the week were actually pretty good considering that it was a major holiday week.  I have highlighted what I believe to be the stats of the week. Average sold price has been climbing the past 4 weeks and last week was the highest it has been in the past 10 weeks. The other stat of note is, once again, the number of single family Oroville homes for sale. The is number represents the fewest number of homes on the market since I have been bringing you this particular statistic beginning June 8, 2009.

As a seller, or potential seller, this is THE number to watch going forward. Smaller inventory will eventually translate into higher prices.

Well, that is all for know. I’ve got another “busy” day scheduled tomorrow as I do more trailblazing through the Arizona¬† desert on my quad runner.

MLS Stats for Oroville Area Week Ending Week Ending Week Ending Week Ending Weekly %
12/7/2009 12/14/2009 12/21/2009 12/27/2009 Change
# of Total Sales 8 9 13 11 -15.38%
# REO/Short Sales Sold (SS) 4 6 5 6 20.00%
% Sales that are REO/SS 50.00% 66.67% 38.46% 54.55% 41.82%
Avg. List Price $96,775 $93,865 $112,500 $127,354 13.20%
Avg. Sold Price $82,500 $91,783 $105,358 $131,627 24.93%
Sold Price % of Listing Price 85.25% 97.78% 93.65% 103.36% 10.36%
Avg. Days On The Market 108 45 157 103 -34.39%
Total Sales Volume $660,000 $826,050 $1,440,750 $1,447,900 0.50%
# of Single Family Listings 336 327 331 323 -2.42%
# Foreclosed On Market 35 35 38 39 2.63%
% of Foreclosed on Market 10.42% 10.70% 11.48% 12.07% 5.17%
# Short Sales on Market 45 44 44 44 0.00%
% Short Sales on Market 13.39% 13.46% 13.29% 13.62% 2.48%

Click here for expanded chart

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