Have you been waiting for the market to “improve” or perhaps for the weather to “improve” – whatever your reason for waiting to put your Mountain home on the market – Now is the Time!  Talk to a listing agent with knowledge of the local market (not all of us do) who knows that, regardless of what’s said in the media or on the streets may not be the true story – especially regarding our very wonderful and unique area.  There are buyers and while they are seeking “good deals”, many of them have cash – we are seeing more cash buyers than ever before – in all price ranges.  Have you noticed Blue Jay lately?  Our little Blue Jay Village is blooming with new business and restaurants joining our wonderful Blue Jay standbys.  Weather is gorgeous, flowers are blooming, trees are leafing out – Now is the Time!

Whether selling or buying, Now is the Time.  Have you buyers been waiting for lower prices, lower interest rates, the market to “bottom out” – whatever the hesitation, if you really want to share in our Mountain Lifestyle, Now is the Time!!!  In my twenty five years of practicing real estate in the Lake Arrowhead area, I’ve never seen lower prices or better interest rates.  Granted, lenders do not make it easy – but than is anything really worthwhile in life easy?  Get busy, call me today to receive information on listings in your price range and on our market place in general.  My team and I make it our business to provide buyers and sellers with the most up-to-date market information and with all that is needed to make those important buying and selling decisions.

Assemblyman Tim Donnelly honors Carol Banner as woman of the year. Click on the link  to watch the video.  http://www.arc.asm.ca.gov/member/59/?p=media&sid=427&id=10482

Yesterday, a beautiful Monday morning in the Mountains, several of us Deer Lodge Park residents drove down the paved section of State Hwy 173 and parked at the end of the pavement.  We were joined by several other friends and neighbors residing on the North side of Lake Arrowhead to offer our protest to the closing of State Hwy 173 – that almost 5 mile stretch of the highway heading northwestwardly from beyond the Gun Club down to the base of the Mountain – the only “dirt” State Highway in California.  Even though our local fire services, the MAC and other Government appointees have declared that Highway 173 is not a “recognized emergency escape route” – we, who live here, own property here, pay taxes here – know otherwise!   For 40 years, Duane and I have lived on Grass Valley Road – second to the last house before it’s intersection with Highway 173.  In the 1980 Panorama Fire, Twin Peaks residents with their belongings packed in their cars filed past our house as they headed for the only escape access available to them – Hwy. 173 – after mandatory evacuation from their homes.  I knew that if the fire wasn’t stopped at Twin Peaks, I, too, with my family and belongings would be heading down that same road.  In the years since, we witnessed similar scenarios in three other major fires threatening our Community.  Fifty or so commuters use the road daily – at their own risk and with full knowledge that the road is winding dirt road that cuts off about one hour travel time for them daily. 

 

I was surprised at the emotion that swept over me as I stood there with my friends and family and looked at the chains, locks and K-Rail now blocking Hwy. 173.  The three armed Highway Patrol officers alerted to “keep the peace” by CalTrans stood by – along with the six CalTrans employees sent to put up the chains and to explain to us their version of just why this was happening.  Now I understand!  I understand what it’s like to go up against the Government.  I’ve always felt like a part of our Government process.  I’ve worked with state and county representatives in a collegial manner as the Chair of our local Chamber Government Affairs Committee, as a School Board Trustee, as a California Realtor.  Now I understand why We, the People, feel disenfranchised – on the outside looking in at a process that no longer makes sense.  We have ignored history.   We sat by and let it happen.  We are warned in the Declaration of Independence that a Government allowed by a complacent constituency to rule by its own laws, will turn us from a Government of the People, for the People, by the People to a People of the Government, for the Government, by the Government.  We are there!  Now I understand!

Funny, you say, that such a tiny matter in the Big Scheme of things should create this new feeling of distrust, dislike, despair – it’s not a tiny matter to us in our little tiny corner of this big, beautiful over-governed state.  It’s a big fat Wake Up Call!!

I just read this article on CAR Website      it is very informative.

write on behalf of the CALIFORNIA ASSOCIATION OF REALTORS®, whose 170,000 members continue to witness the devastating consequences the home foreclosure crisis is having on California’s families, neighborhoods, and communities on a daily basis. 

The number of families affected by foreclosure is staggering.  During the past three years, more than 640,000 Californians have lost their homes.  With the number of homeowners who owe more than their home is worth hovering at 30 percent, experts predict there will be many more foreclosures in 2011 and 2012.  Unless we take immediate, aggressive action to assist these homeowners, any meaningful recovery in the housing market and overall economy will continue to be delayed.

Tragically, only a fraction of those who face foreclosure will remain in their homes when all is said and done.  Those whose incomes and financial circumstances meet strict guidelines may qualify for a loan modification that will reduce their monthly payment to more affordable levels.   Yet the federal Home Affordable Modification Program (HAMP) is expected to prevent only 700,000 to 800,000 foreclosures nationwide before it expires at the end of 2012, and the program does little to help those homeowners who are unemployed or otherwise no longer able to meet their financial commitments.  Their last hope is to sell their home, which often means convincing their lender or the investor who “owns” the loan (and, in many cases, the holder of a second mortgage lien and the mortgage insurer) to accept a “short sale.”

With a short sale, homeowners with a proven hardship negotiate an agreement to sell their home for less than the balance owed.  Although not every homeowner or mortgage is eligible, those who are able to finalize a short sale avoid a foreclosure on their credit record and can move on with their lives.  Last year, 20 percent of home sales in our state involved short sales.

Short sales can play an important role in our state’s economic recovery by accelerating the pace of home sales and reducing the inventory of bank-owned homes on the market.  There are other benefits as well.  Homebuyers who can qualify for a mortgage at today’s low interest rates also are able to purchase a home at below-market prices.  Banks get a nonperforming asset off their books and avoid the headaches associated with disposing of assets they don’t want to own in the first place.  Neighborhoods have fewer abandoned homes, and local businesses have more customers with money to spend. 

Unfortunately, many homeowners are unable to successfully negotiate a short sale.  According to a recent survey of 2,150 California REALTORS® who have assisted clients with a short sale, only three out of five transactions closed – even when there was an interested and qualified buyer. 

What’s the problem?  For one, no two mortgage agreements are the same, so it can be difficult to standardize short sale processes and procedures.  Many homeowners have second mortgages, which further complicate matters.  Then there’s the challenge of convincing multiple parties to take a financial loss or, in the case of loan servicers, to forego fees they otherwise might earn during the course of the foreclosure process.  Poor and slow service by many banks and servicers has only exacerbated the problem.  Horror stories abound from potential homebuyers and REALTORS® forced to wait 90 or more days for a response to a purchase offer or being required to fax short sale applications or other paperwork as many as 50 times.   These delays discourage potential homebuyers from considering a short sale purchase and undermine the process for those who short sales are intended to benefit – the hundreds of thousands of families facing foreclosure.   
 
Increasing the number of closed short sales by speeding up and streamlining the short sale process is one important way we can help California families avoid foreclosure and move our economy closer to recovery. That’s why the California Association of REALTORS® is taking steps to enable more families to arrange a short sale.  Recently, we advocated for improvements to short sale guidelines established under the federal Home Affordable Foreclosure Alternative (HAFA) program.  We’re meeting with major banks, U.S. Treasury officials, government-sponsored entities (including Fannie Mae and Freddie Mac), and others to urge them to standardize processes, comply with federal guidelines, improve communication with other stakeholders and increase staffing with the goal of eliminating service issues.  We’ve also offered our members training in every aspect of the short sale process so they can assist their clients.

But we can’t do it alone.  That’s why we’re focusing the spotlight on short sales and calling on regulators, elected officials, nonprofits, business organizations, companies, and individuals with a stake in California’s economic future to resolve this issue and others that get in the way of a recovery.   It won’t be easy, and some compromises will be required.  The important thing is that we need to act today.  Our families and our communities can’t wait any longer.

Winter, 2011

Hello, Lake Arrowhead Neighbors,

Real Estate is Local:  In this challenging Real Estate Market, one thing is certain: Whether selling or buying, you will be better served to engage a LOCAL Realtor.

Not only do we know our market area, we are also aware of disclosure issues – Lake Rights or not, sewer or septic, maintained or non-maintained road – to name just a very few peculiar to our Lake Arrowhead area.  I’d like to introduce myself as a Local Realtor, living and working in our beautiful Mountains for over 50 years.  If you’re looking for an experienced and dedicated representative, I would very much like to talk with you.

Here are some facts regarding our Local Real Estate Market – you might find them interesting:

• The market peaked in home sales in 2004 with a total o f 1779 sales or 3558 units or “deals”.  Last year there were 749 sales with 1498 deals.  The percentage decline from the peak was 58%.  Coincidently we have seen only a 25% drop in the number of Realtors in the market.
• For average sales price the peak was 2007 at $446,000.  Last year the average sales price was $260,693 representing a 42% decline from the peak.   This doesn’t mean that homes purchased in 2007 are worth 42% less than they were it just means the average sale in the market dropped to that figure.
• Dollars into our local economy was at a peak in 2005 where the real estate industry generated 1.279 Billion Dollars in sales and $35,568,070 in commission dollars.  Last years figures were approximately $390 Million in sales and $10,856,404 in commission dollars representing a decline of nearly 70%…. any guesses as to why money might be a bit tight?

This might explain the impact the Real Estate industry has on our local economy.  In spite of the above, we are still selling properties here in Lake Arrowhead .  If I can be of service, please give me a call – or check out my website: www.carolbanner.com and send me an e-mail.  Call Carol Banner at Coldwell Banker Sky Ridge Realty, your Local Realtor, for a Market Analysis or to answer any questions you may have regarding the Real Estate in Lake Arrowhead .  I am a recognized Foreclosure and Short Sale Resource in our mountain communities.

Your Local Realtor,

Carol Banner
The Banner Team @ CB Sky Ridge Realty
Cell: 909-553-6812
E-mail: carolbanner@earthlink.net

 

Prime Rib Dinner and Auction at Lake Arrowhead Country Club

Friday April 8,2011 @ 5:30 P.M.

$25 Per Person

Tickets will be available at Betty’s General Store in Blue Jay, Coldwell Banker Sky Ridge Realty in Blue Jay and Lakeside Realty in Lake Gregory

 

Auction Items are coming in and more are welcome. This will be a wonderful evening so please join us once again and pay it forward.

 

Any questions please call Carol Banner (909)553-6812

 

 

Hello, Lake Arrowhead Neighbors,

Real Estate is Local:  In this challenging Real Estate Market, one thing is certain: Whether selling or buying, you will be better served to engage a LOCAL Realtor.

Not only do we know our market area, we are also aware of disclosure issues – Lake Rights or not, sewer or septic, maintained or non-maintained road – to name just a very few peculiar to our Lake Arrowhead area.  I’d like to introduce myself as a Local Realtor, living and working in our beautiful Mountains for over 50 years.  If you’re looking for an experienced and dedicated representative, I would very much like to talk with you.

Here are some facts regarding our Local Real Estate Market – you might find them interesting:

• The market peaked in home sales in 2004 with a total o f 1779 sales or 3558 units or “deals”.  Last year there were 749 sales with 1498 deals.  The percentage decline from the peak was 58%.  Coincidently we have seen only a 25% drop in the number of Realtors in the market.
• For average sales price the peak was 2007 at $446,000.  Last year the average sales price was $260,693 representing a 42% decline from the peak.   This doesn’t mean that homes purchased in 2007 are worth 42% less than they were it just means the average sale in the market dropped to that figure.
• Dollars into our local economy was at a peak in 2005 where the real estate industry generated 1.279 Billion Dollars in sales and $35,568,070 in commission dollars.  Last years figures were approximately $390 Million in sales and $10,856,404 in commission dollars representing a decline of nearly 70%…. any guesses as to why money might be a bit tight?

This might explain the impact the Real Estate industry has on our local economy.  In spite of the above, we are still selling properties here in Lake Arrowhead.  If I can be of service, please give me a call – or check out my website: www.carolbanner.com  and send me an e-mail.  Call Carol Banner at Coldwell Banker Sky Ridge Realty, your Local Realtor, for a Market Analysis or to answer any questions you may have regarding the Real Estate in Lake Arrowhead.  I am a recognized Foreclosure and Short Sale Resource in our mountain communities.

Can Old Dogs learn new tricks??  The world of Social Media is both challenging and exciting and I’ve been hanging on the outskirts for months – wanting to get going and just not quite taking the time or effort the make it happen.  I’m grateful to my compadres at Coldwell Banker Sky Ridge Realty – Boss Steve Keefe is encouraging us with classes and lots of great info on his blog.  My Partner, Holly Galligan, is a technology whiz and, busy as she is, finds time to help me.  Assistant, Nicole Ethridge, keeps all my info updated and makes me the envy of my office for having such a savvy side kick.  It does, indeed, take the input, encouragement, and sometimes a kick in the pants to take the necessary steps.  I do know it’s important to share what we know and to help others achieve their dreams and goals.   So now I have a plan and my instructions from Holly and Nicole and I’m ready to take on the World of Social Media!!  Check out my page on Facebook and see how I’m doing.  Would love your input – keep me on my toes!!!  If the information I’m sharing doesn’t interest or excite you, then it has no value and a lot of time has been wasted – yours and mine!!!