Weekly Magalia Real Estate Update

I took a look at the 10 day forecast for Magalia and after a bit of rain and cooler temperatures, the sun is expected to shine with warmer temperatures in the mid to high 60's. Let's hope the same is true for the Magalia real estate market. Unfortunately, up to this point, the Magalia market hasn't picked up the steam would have hoped for. This past week we had 4 properties close escrow and 2 properties go under agreement. We saw another 14 properties enter the market with 12 Magalia properties experiencing price reductions. Single family homes priced between $350,000 and $450,000 again experienced the most activity this past week, with 22% of the properties currently pending. As a note for buyers, interest rates for a 30 year fixed rate mortgage fell back down this past week to 6.03. This combined with the high number of price reductions signals a great opportunity to negotiate a very great rate for a great priced Magalia home. For a full market report or to discuss the market in detail, you can reach me anytime on my direct office line at (530) 872-5435 or my cell at (530) 520-6900 or email me at Lynn@LynnsHomeTeam.com. Please visit my website for your complete guide to all that Paradise and the surrounding areas have to offer at www.LynnsHomeTeam.com.