Real Estate is Local   Leave a comment

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

 

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Posted February 24, 2011 by Carol Banner in Mountain real estate

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