Even a little rain on our Feather Fiesta Days parade could not keep the throngs of people away from the Lake Oroville real estate market for our annual week-long celebration of our hometown.
The Saturday before Mother’s Day is the tradition kick-off to the wealth of spring and summer activities that abound it the Lake Oroville real estate area each year. There is so much to do around Oroville Ca and the surrounding areas this time of year that you would have to clone yourself to see it all. Luck for you, I will be posting videos like this one throughout this time of year so you can enjoy as much as you can of the Lake Oroville Ca area. I hope you enjoy the video.
One of the biggest challenges for anyone thinking of buying or selling real estate in any market across the country is determining the condition of the market in their particular area. Certainly the same holds true for the Lake Oroville real estate market.
But where in the world of realty can you get accurate market information? Zillow? Trulia? Maybe the nightly news.? Or better yet, how about Facebook? After all, if it is on Facebook, it must be true, right?
Your best resource for LOCAL market conditions is right here on this blog site. Over the past 5 years I have brought market updates, real estate advice, and sometimes some fairly provocative opinions. It is, and always will be, my opinion that there is a HUGE need for accurate local real estate market information in the Lake Oroville real estate market. I also believe that there is a drought of such information out there. This is why I make providing real estate market information the top priority of this blog site. I am always looking to bring information to you in a variety of ways and from different perspectives so that you know what is REALLY going on.
Which brings me to my latest graph. This graph illustrates the changes in the inventory of Lake Oroville homes for sale over the past 8 months at different pricing levels. What spurred me to research this is the fact that , although prices of homes that have sold has admittedly increased, the number of homes that are selling in the Oroville real estate market is on pace to be the first year since 2009 that the market will be selling fewer homes in the current year than the previous year. Yes, you read that right. Regardless of what the “salespeople” are telling you about how “busy” they are, the truth is the home sales in the Oroville market are significantly behind last years numbers.
Because the “numbers guy” in me is always looking to explain what would cause this to happen, I jumped into the database to see what I could glean. The graph below is the result of my research and is the basis for the following opinions: Continue reading →
Enjoy the latest home video tour from our production department. We are seeing a great deal of success with our video tour of homes in the greater Lake Oroville area real estate market. There is no hiding the fact that the Oroville real estate market cannot be characterized as a “large” market but the response to our video home tours is bigger than that of some of the agents doing video tours in their much larger markets. Enjoy the tour!
A big congratulations to our associates, Marie Hawkins and Steffan Blaser for successfully and diligently representing their respective clients in the sale and purchase of this home in the Kelly Ridge subdivision in the Lake Oroville real estate market.
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The sleepy real estate market in the Lake Oroville area continues to hit the “snooze” alarm as the market seems to be sleep walking through yet another month.
When a market turns as this one has over the past few weeks some may think that the buyers are beginning to leave the market. If the recent activity in our office is any indication what is going on in overall home sales activity in the Oroville real estate market, that thinking would be incorrect. For example, I have shown more buyers Oroville homes for sale in the past couple weeks than I have at any other time this year. The buyers are not sitting on the sidelines worrying about interest rate increases. The fact is that Oroville buyers are now shopping more cautiously, and are beginning to consider the actual value of the homes at which they are looking, not wanting to overpay for their next home.
I know that as of the posting of this blog the month of August is not quite done yet.
But I hereby make a motion to put the memory of this month’s Lake Oroville real estate market sales numbers behind us and never look back again!
With another paltry week of Oroville real estate sales in the books and with just a very few sales yet to be logged into the Oroville area multiple listing service, the number of Oroville homes that sold this month will be the fewest number of homes sold in nearly 4 years. Yes, you read that correctly, not since Nov. 2009 has the pace of Oroville area home sales been this slow.
Although interest rates are still extremely low, the recent increase in the rates coupled with the lack of reasonably priced homes has apparently caused a pause in buyer demand.
There are however, a couple of bright spots in this weeks Oroville area home sales data. Continue reading →