Paradise Weekly Real Estate Update

There was a great deal of excitement in Paradise this past week as the 30 year fixed mortgage rates again took a drop.  They are currently 5.69 for 30 year mortgages, with the 15-year fixed rates being even more desirable.  The Paradise area mortgage rates haven't been this low for about 2 years, which brings some obvious excitement to this slower paced Paradise Real Estate market.  Paradise had 32 price reductions over the past week; this was likely in part a result of sellers trying to get their homes noticed in the midst of all the mortgage rate decreases.  The Paradise manufactured home inventory and those homes under $250,000 are still moving quicker than all other types of properties in Paradise with approximately 24% of the inventory going under agreement this past week.  Paradise homes listed over $450,000, as well as the Paradise land inventory, are still moving at very slow rates with less than 10% of the homes going under contract and less than 5% of the land going under contract.  With increased amounts of inventory and incredible mortgage rate opportunities, there is no question that this is a great time to enter into Paradise home ownership.