Lake County Homeownership Expo! June 12 – 14th

Spread the word this should be a great event:

 

Homes take a 25% Jump in median price for Lake County for March 2015.

The Lake County Association of Realtors just posted the statistics for March  2015.  Prices rose by 25%

Here is the report:  

Home Sale Prices Increase by Twenty Five Percent

 

LAKEPORT (April 17) – The Lake County Association of Realtors® (LCAOR) reported that the median sales price of single family residences for Lake County rose from $180,000 in February 2015 to $224,000 in March, a 24.44% increase. Like sales in March 2014 had a median sales price of $155,000 showing a 44.5% increase when comparing year to year sales. Fluctuations in median pricing on a month to month basis can vary widely because of the limited number of sales however the trend has been on the upswing since December of 2014. The median sales price for all of 2014 was $169,000 compared to $175,000 for the first three months of 2015.

 

Fifty two (52) units sold in March compared to 43 in February for a 20.9% increase.

In March 2014 the number of units selling was 51. Inventory levels remained relatively the same at 7.1 months of inventory in March and 7.4 months of inventory in February. The months of inventory in March 2014 was 5.6 indicating that there are more homes available this year than last year.

 

“Realtors are reporting that the activity and interest in buying a home has picked up,” stated LCAOR President Yvette Sloan. “Interest rates are still attractive and the ability to get a loan has improved.”

 

Mortgage rates moved upward in March, with the 30-year, fixed mortgage interest rate averaging 3.77 percent, up from 3.71 percent in February but down from 4.34 percent in March 2014, according to Freddie Mac. Adjustable-mortgage interest rates also rose in March, averaging 2.46 percent, up from 2.43 percent in February but down from 2.48 percent in March 2014.

 

Distressed sales, homes sold after foreclosure or for less than what was owed, continued to decline falling from 18.6% of the sales in February to 11.5% in March. The decline was more significant, 11.5% from 27.5%, when compared to March 2014.

 

Cash only purchases accounted for 25% of the sales with 42.3% of the sales being financed through conventional loans. These percentages are similar to both February 2015 and March 2014. The median days to sell a home was 116. For all of 2014 the median days to sell was 76. The median days to sell is the number of days from the time the property was listed until it went into escrow.

 

 

NUMBERS AT A GLANCE

 

Lake County – March 2015

  • Median price: $224,000
  • Median days to sell: 116
  • Units Sold: 52

 

Lake County – February 2015

  • Median price: $180,000
  • Median days to sell: 118
  • Units Sold: 43

 

Lake County – March 2014

  • Median price: $155,000
  • Median days to sell: 98
  • Units Sold: 51

 

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New Ice Cream Parlor in Kelseyville called The Scoop!

This is a fun spot to chill and have a ice cream cone, shake, sundae and more.   The Scoop Ice Cream Parlor, Kelseyville CA The Scoop 2 The Scoop 3

Great Section about Lake County in the SF Chronical! :)

IMG_0274                                    Lake County wine: Tasting without the traffic.

I was very pleased to see this special section provided in the Sunday, San Francisco Chronicle dated April 12, 2015   To know more go to their link to this section provided below.

http://www.sfgate.com/food/article/Lake-County-wine-Tasting-without-the-traffic-6192585.php?cmpid=email-desktop

 

Nice DW Manufactured home in beautiful senior park.

Another very nice 2 bed, 2 bath Manufactured Home listed this weekend! In Kaliah Landing Park, 8910 Soda Bay Rd. Space C5. Listed for $69,900 MLS#LC15075911  https://youtu.be/ow_Bchpgq78

Great Mobile Home in Lakefront Senior Park, 8910 Soda Bay Rd. Space B1, Kelseyville, CA

Looking for a great place to retire?  This one has a great lakeview!  Check it out.

Nice Lakefront 3 Bed. 2 bath in Soda Bay! On Willow Road in Kelseyville, CA

Just listed this nice home this weekend!  Has floating boat dock and lift and a private boat ramp.  Just $389,000   MLS# LC15075865

 

 

SOLAR LEASES IMPACTING REAL ESTATE TRANSACTIONS.

If you’re thinking about leasing solar panels be sure to do your homework.  Some lease agreements are having a big impact on real estate sales. I am all for green energy and being self sufficient but having some concern with regard to the complication solar leasing is having on real estate sales. Here is a recent article from the Washington Post and recently reprinted by the Los Angeles Time.

Nothing like Springtime in Lake County California!

The photos were taken during the month of March 2015. This is a great time of year to look for property and enjoy the scenery.

Mount Konocti & Clear Lake on a nice spring day. 3-29-2015

Mount Konocti & Clear Lake on a nice spring day. 3-29-2015

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Real Estate Median Sales Price Rises in February 2015

For Release: March 16, 2015

Real Estate Median Sales Price Rises in February

LAKEPORT (March 16) – The Lake County Association of Realtors® (LCAOR) reported that the median sales price of single family residences for Lake County rose from $159,000 in January 2015 to $180,000 in February, a 13.2% increase. Like sales in February 2014 had a median sales price of $162,450 indicating that there was a 10.8% increase when comparing year to year sales.

The number of units selling in February 2015 decreased by 20.4% when compared to February 2014 falling from 54 units in 2014 to 43 units in 2015. With fewer units selling the months of inventory increased from 6.5 to 7.4. In January there were 305 single family residences listed for sale and in February there were 318. It is not uncommon to see fewer units available during the winter months. In 2014 the maximum number of units for sale in any one month was 505 in August and the low was 318 in January.

Distressed sales, homes sold after foreclosure or for less than what was owed, declined slightly from the January percentage, 18.6% from 19.2%. However the decline was significant, 18.6% from 42.6%, when compared to February 2014.

Cash only purchases were down to 18.6% of the sales which is the lowest percentage in a few years. Conversely conventional loans rose to 41.9% of the sales, up from 32.7% in January. USDA loans were the next most common type of loan used with those making up 16.3% of the transactions. USDA loans have qualifying factors such as income and the selling price of the home. Potential buyers should contact a qualified lender to determine if they qualify for this type of loan. All loan types have qualifying factors, but they vary from loan type to loan type.

The median time that a property was on the market increased from 81 days in February 2014 to 118 for the same month in 2015. In January 2015 the median days on market was 112. It is not substantiated but one possible reason for the increased days on market could be that fewer transactions are being purchased with cash and more are being purchased via loans which have a processing time not associated with cash transactions.

“Despite the lower number of sales real estate activity has been on the upswing” stated Yvette Sloan 2015 President of LCAOR. “The next few months will be a good indicator of how the rest of the year will go.”

NUMBERS AT A GLANCE

Lake County – February 2015
• Median price: $180,000
• Median days to sell: 118
• Units Sold: 43

Lake County – January 2015
• Median price: $159,000
• Median days to sell: 112
• Units Sold: 45

Lake County – February 2014
• Median price: $162,450
• Median days to sell: 81
• Units Sold: 54

Buyers and sellers wanting to find out about the market value of their property or how the market is doing in their neighborhood should contact a Lake County experienced Realtor®. A member roster is available at: http://www.lcaor.com/members/.

Lake County Association of REALTORS® … Helping REALTORS® to improve the consumer experience. LCAOR offices are located in Lakeport, CA.
February 2015 Market at a Glance

Click on the chart to see full page view!