Magalia Weekly Real Estate Update

It was a slow week for the Magalia real estate market with no properties closing escrow and only 4 properties going under agreement. A couple of key things happened though that may interest Magalia area buyers. There were a number of price reductions (13 of them!!) and the interest rates dropped to 5.85% for an average 30 year fixed rate. This spring market is shaping up to be a buyer's delight with interest rates and price reductions being ideal. Areas receiving the most interest in this Magalia market are those single family properties priced below $250,000, as well as the manufactured homes.