July 1 2008 by Jim W Hildreth RE/Max of Sonora
All of us are often asked "How is Real Estate? " This questions can be asked at a local service club, the grocery store or in the homes of America.
Having worked the California Sonora market for the past 32 years I have seen many highs and lows.
I personally are seeing many low end sales and for the month of June I was the selling broker for $150,000 a acreage sale of $160,000, inwhich I was the listing broker, a acreage sale for $65,000 and a mobile in a park for $25,000. Three of these sales I represented both buyer & seller. The final sale was for $30,000 for two old homes.
For the month of June 8 sides or $420,000.
Two years ago, each sale would have been in the $300,000 range
Tonight I acted as a buyers Broker on a sale for $160,000 and I will enter that property in escrow tomorrow and it looks promising for another property that will be below $100,000.
Today, I recieved news that I was selected to be the Listing Broker on a local Probate sale in a Sonora neighborhood. The price will be in the $350,000 range.
This home will be in demand do to price & location for the City of Sonora.
How is Real Estate Going? is a good question and in our county with over 250 agents only 70 agents had sold at least one sale for the first 5 months of 2008.
Sales are occuring, but there is no question that with each sale we are seeing a reflection of a soft buyers market.
Jim W Hildreth
RE/Max of Sonora
(209) 536-1103
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