By: Mark Wisterman
Here is the second installment of the newest feature that was recently added to this Lake Oroville real estate market blog.
I call this video feature “Mark’s Real Estate Minute (or 2). Why the “or 2?” Because I have quickly found that I talk to darned much and there is NO WAY that I will every be able to limit these spots to 1 minute!!!! The latest and greatest of these spots will always be on the sidebar of this site for easy access.
I will periodically produce these spots to provide my perspective and advice on a wide array of topics including those you may like to hear about. A lot of changes are once again taking place in the Oroville real estate market and I think it is absolutely essential that you have as much information about Oroville market conditions, as well as market conditions in the greater Butte County real estate market area.
As the old saying goes, “Information is Power.” And this is exactly what I want to provide to you; the power to make the right decision regarding your real estate needs. It is my hope that I can pack enough info into each one of these ‘minutes’ to make a difference.
Well, hello again, everyone! It is good to be able to take the time to update you on the real estate market in the Lake Oroville market area.
It has been a very long time since I last provided any meaningful stats on the Lake Oroville real estate market and I hope to be doing this on a much more frequent basis now that we are beginning to see new trends emerge in the number of Oroville homes that have sold as well as the number of Lake Oroville home listings that are currently on the market.
Probably the biggest news when in comes to the Oroville real estate market has to due with current inventories of homes available. Since the depths of the market crash we have seen a steadily decreasing number of Oroville homes come to market. When you view the slide show that is included with this post, you will see that the number of homes available was just over 400 in March of 2009. According to our Multiple Listing Database, as of this past Friday, there are now only 150 single family homes for sale in the greater Lake Oroville real estate market. This low inventory is making it extremely difficult on buyers as it causes a little bit of a “feeding frenzy’ whenever a home that is in move-in ready condition comes on the market in that some of the prices get bid up to the point where some buyers can no longer qualify.
You can expect this inventory shortage to continue until values recover to the point where homeowners, who are “underwater” and would like to sell but can’t, finally see that their homes are once again worth more than they owe on them. Barring anything that the government will do to screw things up, we should begin to see more news reports of significantly fewer of these upside down situations in the 2nd half of this year, which should provide the impetus towards an increasing number of Oroville CA homes for sale.
Below is a 4 week chart of the sales in the Lake Oroville CA market and below that is a slide show that provides a little more overview on the current state of the Oroville Ca housing market.
As always, I appreciate your comments and questions.
|MLS Stats for Oroville Area||Week Ending||Week Ending||Week Ending||Week Ending||Previous %|
|# of Total Sales||11||9||8||6||-25.00%|
|# REO/Short Sales Sold (SS)||6||5||2||2||0.00%|
|% Sales that are REO/SS||54.55%||55.56%||25.00%||33.33%||33.33%|
|Avg. List Price||$130,550||$90,756||$122,516||$117,100||-4.42%|
|Avg. Sold Price||$125,768||$86,278||$117,138||$102,525||-12.48%|
|Sold Price % of Listing Price||96.34%||95.07%||95.61%||87.55%||-8.43%|
|Avg. Days On The Market||56||66||178||51||-71.35%|
|Total Sales Volume||$1,383,450||$776,500||$937,100||$615,150||-34.36%|
|# of Single Family Listings||162||158||155||150||-3.23%|
|# Foreclosed On Market||22||20||20||18||-10.00%|
|% of Foreclosed on Market||13.58%||12.66%||12.90%||12.00%||-7.00%|
|# Short Sales on Market||8||8||7||7||0.00%|
|% Short Sales on Market||4.94%||5.06%||4.52%||4.67%||3.33%|
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OK, I know that this is not the most well produced real estate video that any of you in the Oroville real estate markets, or the real estate markets of Paradise and Chico, CA. have ever seen.
Quite frankly I hadn’t even intended for this video to go beyond the eyes of my client. But, then I thought, “Aw, what the heck,” I might as well let all of you see the how cool some of my latest and greatest technology is helping me help my customers. This video was shot and entirely produced entirely on my iPhone5 with a really awesome app that is actually still being beta tested. The amazing thing is that it only took about 10 minutes to put it all together once the images were recorded on the phone.
I would be happy to provide this service to any of you out there in the real estate markets that I serve including the market for Oroville homes, Paradise homes and homes in Chico and Sutter and Yuba Counties.
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 simple two letter code. There is even a QR code available for you iPhone and Android users. No more searching through cumbersome apps like REALTOR.com, 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.
Happy House Hunting!!!!!!!!!!!!
The explosion of online social networking has added a whole new dimension to the information age. It is easier than ever to reconnect with old friends, classmates, long lost relatives, etc. As a real estate professional who sees the value in these networks, I am continually looking for new online opportunities in the internet world of social networking in order to enhance the services I provide to my clients.
One of these opportunities is a site named Yelp. Using this site allows you to write reviews and comment on your experiences on any number of businesses. These reviews and comments are placed online for anybody to read. You can use Yelp to tell everyone about your last dining experience, or you can let the world know how the service was at the local quick lube place, or you can comment on your customer service experience at your favorite coffee shop.
When done in a constructive manner, these comments and reviews not only provide valuable information to consumers, but also allow business owners, like myself, another opportunity to make sure that service levels are the best they can be.
At this point there are relatively few people in the Oroville real estate market aware of Yelp. I feel so strongly about the importance of knowing how our clients feel about the services we provide that I signed up our company with the service as soon as I heard about it 6 months ago. I also have placed a link of each of my team members blog sites so you have easy access to the site.
Please take advantage of this FREE service and sign up to provide feedback to not only us but to any business of your choosing. You can either click on the logo in this posting or in the logo to the left.
Oroville real estate. Chico homes for sale, gridley listings, Paradise listings, Butte County property.