Mark Wisterman's Paradise & Lake Oroville Real Estate Blog

My intent today was to report the weekly sales of the Lake Oroville real estate market to you for last week.

But during my number crunching I realized that it  has been a while since I had updated my charts that I have been using to track the monthly and annual Lake Oroville home sales. 

After updating these charts I noticed an interesting long term trend in one of the charts that I thought you needed to see. From past blog posts, you all know that I do not take the  month to month numbers that are released into the media on an ongoing basis as important as what has happened over longer periods of time. I think the media is far too focused on what this month did compared to that month, which in turn has focused the consumer on the very same thing.  This narrow focus is what I believe is going to cause many buyers to miss  the great opportunities that currently abound in the marketplace as far as prices and interest rates are concerned. 

Now before you get excited, thinking this is another one of those real estate blogs posts that tells you to BUY NOW!!!!, let me tell that it is not. This market is going to provide great buying opportunities, for those of you that still have jobs in this economy, for the foreseeable future.   What I am telling you is to look at this chart and see for yourself what this Lake Oroville real estate market is whispering to you. When looking at a chart like this most people look at the peaks to see how high things have gone. What I suggest that you look at here is the lower side of this chart. The former stock broker in me says ignore what is happening in the high side and pay close attention to what is happening on the low side. In the stock broker world a stock that showed a trend of higher lows was one to pay attention to and was a good signal that the stock was poised to move to higher highs.  (Click Here or on the Chart to Enlarge)

As indicated on this chart, Read the rest of this entry »

In speaking with a number of lenders that serve the Oroville real estate market, there seems to be an increase in the number of prospective borrowers who aren’t listening to the instructions their loan officers are giving them during the loan process which is jeopardizing the purchase of their homes.

Today’s public service message is short and sweet to homebuyer’s everywhere:

LISTEN UP!!!

When your loan officer tells you not to buy anything using your credit card during the loan process…..Listen up!

When your loan officer tell you to be sure you have a paper trail for ANY funds you receive during the loan process….Listen up!

When your loan officer tells you that any gift funds that someone is willing to give you must not go directly into your bank accounts…Listen up!

When your loan officer tells you not to deposit those “stashed under the mattress” funds into your accounts….Listen up!

As a borrower you must understand that the loan qualification does not end when your lender pre-qualifies you for a loan.  Any changes to your financial position before your home purchase is COMPLETE will affect your ability to procure your loan. In most cases the effect is that you disqualify yourself for your loan.

Your lender will be monitoring your financial situation throughout the loan process and WILL be aware of changes to it. Be sure that you not only hear what your loan professional is telling you, but also be sure to LISTEN UP!!

If you do, you will find that the loan process is much simpler and less stressful.

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 Here are the weekly sales numbers for the Lake Oroville real estate market. Not too much about which to comment this week. 

 It is good to see the sales volume for Oroville homes sold to break through the $1 million mark. Inventories are holding steady but remain at nearly a 2 year low.  Unfortunately, for Oroville sellers, bank-owned properties, as a percentage of total Lake Oroville listings, are still the highest they have been since I began tracking these numbers.

You can also access this weekly report at my facebook page: REALTYWORLD.CA

Another exciting development descends upon the downtown area of the Lake Oroville real estate market today with the opening of the office of Stifel, Nicolaus & Company, Incorporated.With its origins dating back to the 1890′s, the investment firm’s belief of “safeguarding the money of others as if it were your own” has guided them through portions of 3 centuries.

So why is this such a big deal?  Because,  the debut of the Stifel (pronounce it, Steeful) Nicolaus office marks the return of an investment company downtown that still operates, in many ways, as a “family” run business.  And, because my longtime friend, and even longertime ( I know, this is not a word) investment adviser, Jim Moll is going to be working there, and I want to help get the word out that his new office, which is actually his old office, is open for business.

Jim, along with fellow Vice President/Investments Kevin Zeitler, and Client Service Associate, Callie McBee, are pleased to welcome you to their new company at 1891 Robinson Street, Oroville Ca 95965.

The new phone number is 530-534-8021

The name on the door and the number on the telephones may have changed, but Jim’s, Kevin’s and Callie’s commitment of  “safeguarding the money of others as if it were your own” won’t.

Good Luck, Guys!!!!

 Another ho-hum week for Lake Oroville real estate market as sales activity continues to under perform. But once again we find that the inventory of Oroville homes for sale has dropped to another low. 

If the current activity in the office of our Oroville market is any indication we may soon be seeing a change in these sales numbers. Our Oroville agents have been very busy this week showing property and writing offers. It is good to see that maybe the spring-like weather is bringing buyers out.

If you are thinking of selling, now might be the time to get your home on the market.

 Sales for the Lake Oroville real estate market took a turn for the better this past week. The average sold price was the highest it has been in a very long time thanks to the sale of a couple homes that had been on the market for quite some time. The sale of these two particular homes was also the reason for the nearly doubling of the “days on the market” time. One of the homes had been on the market 928 days and the other had been for sale for 897 days.

Once again, though, the number of the week to lookout for is the number of Oroville homes currently on the market. This number has hit another new low for this blog site and is threatening to go under 300 for the first time in probably two years.