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,
The Banner Team @ CB Sky Ridge Realty