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Lake Arrowhead Market Conditions Feb. 7, 2011

By
Real Estate Agent with CapRe- California Professional Real Estate

Lake Arrowhead Home Availability and sales as of Feb. 7, 2011

 

There are currently 266 active listings within "The Woods" or "AW" of Lake Arrowhead. The largest selection is in the $300,000 and lower price range with 76 homes available and in the $400,000 price range where there are 71 homes available. Pricing is below 2003 levels, which means in most cases, much of the price increase that occurred in the years when homes lasted on the market only a few days in a feeding frenzy and buyers had to deal with multiple offers is long gone.

In 2010 the number of homes sold was very close to the 2009 levels with pricing decreasing slightly year over year. In the last 90 days 59 homes have sold/closed with 26 homes currently pending. Activity is brisk and those buyers that are willing and ready to write offers on homes that may appear over priced are finding great values. Buyers are buying "up" now and getting so much more for their money.

I find it interesting that many sellers have kept their prices high in anticipation of  "low ball" offers but many buyers are uncomfortable writing low ball offers. In my experience the starting point is whether or not the house is priced appropriately. Getting the seller to accept a 20% price decrease on a home that is 25% over market has less value that a seller decreasing 10% on a house that is well priced.

Now is a great time to buy if you are interested in a vacation home in Lake Arrowhead. Interest rates remain historically low and we have plenty of inventory. Let me show you how it is done so that you too can be in your dream home enjoying the bliss of Lake Arrowhead soon!

 

 Cj VanDerMeulen- Realtor

Statistics found on the RIM MLS