Mountain Update

Lenders in the current evironment in most instances are approving "Short Sales."  A "Short Sale" is when the lender allows a homeowner to sell a property for less than the existing values of the loans against it, forgiving the difference. As the number of homeowners in default on their mortgages...

What is a "Short Sale"? A short sale is when a homeowner owes more than the property is currently worth at market rate.  The bank(s) holding the trust deed(s) negotiate with the homeowner and accept a lesser amount than is owed, hence they are "short".  (also referred to commonly as "upside down...

The following chart shows all single family home sales reported to Rim Association of Realtors for the calendar year 2008 as of January 4, 2009   Firm Sold Coldwell Banker Sky Ridge Realty 101 Re/Max Lake Arrowhead 51 Century 21 High Country 18 Prudential California Realty 15 Mountain Country Re...

The following chart shows all single family home sales in the Crestline Market reported to Rim Association of Realtors, and Mountainlakes MLS for the calendar year 2008 as of January 4, 2009.      Firm Sellers Buyers Total Coldwell Banker Sky Ridge Realty 43 26 69 Century 21 San Moritz 11 13 24 ...

I did a recent study of our closed transactions, I looked at September, October, November and December to see where the buyers we represented came from.  The following chart shows the percentage data.  What this data tells me is that nearly 1/2 of the buyers that work with Coldwell Banker Sky Ri...

The following chart shows all single family home sales in the Crestline Market reported to Rim Association of Realtors for the calendar year 2008 as of January 4, 2009.    Firm Sellers Buyers Total Coldwell Banker Sky Ridge Realty 43 25 68 Bibby Realty 9 10 19 Remax Lake Arrowhead 5 13 18 Out of...

The following chart shows all single family home sales reported to Rim Association of Realtors for the calendar year 2008 as of January 4, 2009   Firm Sold Coldwell Banker Sky Ridge Realty 101 Re/Max Lake Arrowhead 51 Century 21 High Country 18 Prudential California Realty 15 Mountain Country Re...

The following chart shows all single family home sales on the mountain reported to Rim Association of Realtors for the calendar year 2008 vs. 2007 as of January 4, 2009.  The figures represent a 14% drop in number of sales and a 21% decrease in median sales price across the mountain.  Most areas...

The only property that is going to sell in this economy is one that is priced correctly.  The successful agents challenge is preparing the seller for the competition. Recent real estate figures, stack pretty tall against speedy sales and big profits in many markets including the So Cal mountain c...

Earlier this month the Federal government unveiled additional mortgage assistance for homeowners at risk of foreclosure.  The "Hope for Homeowners" program will refinance mortgages for some borrowers who are having difficulty making their mortgage payments. , but can afford a new loan that will b...