Mark Wisterman's Paradise & Lake Oroville Real Estate Blog

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. Read the rest of this entry »

Ok, I’m back on schedule with my weekly Lake Oroville real estate market report.

Only nine Oroville area property sales this week, however I do expect the numbers to improve over the next two weeks as those escrows that were opened as the original tax credit window of November 30th was closing, should be completed toward the end of the month and into the first week in December.

Of particular note in these numbers is that the number of properties listed for sale continues to decline and has hit a new low since I began reporting Oroville sales to you.

On the foreclsoure and short sale front, we continue to these properties selling at a rate that is far larger than the percentage of these on the market, which will, if nothing changes, make them harder and harder to find.

Expanded Report