About Lake County, CA

Foreclosure Report: For 09/2132008 for Lake County, California

195 *Foreclosured for sale properties (below market value) - * no contingencies

1180 - All listed Residential home listings

969 - All listed Lot & Land Listings

195 Foreclosed Listings ready for sale

• 173 detached conventional single family residences
• 10 manufactured homes
• 2 condos
• 7 lots & Land
• 2 Ranch
• 1 commercial properties listed as foreclosure

Current Homes Listed as foreclosures by area:

• 60 Clearlake $36,000 - $335,000 (6 short sales, need approval)
• 20 Lakeport $199,900 - $399,000 (7 short sales, need approval)
• 4 Clearlake Oaks $104,900 - $384,000
• 5 Clearlake Oaks Keys $155,000 - $369,000
• 11 Clearlake Riviera $$169,900 - $437,000
• 7 Kelseyville $179,900 - $359,000
• 2 Kelseyville other $199,00 & $319,000
• 4 Cobb $179,507 - $312,500
• 43 Hidden Valley $137,500 - $450,000
• 5 Middletown $237,900 - $639,000
• 7 Lower Lake $89,500 -$277,000
• 3 Nice $$129,900 - $213,900
• 9 Lucerne $94,900 - $225,000
• 1 Loch Lomond $$390,000
• 2 Sprng Valley $89,900 - $97,900
• 0 Upper Lake

Current foreclosed lots or Land

• 1 Spring Valley $24,900 .31 acres
• 2 Hidden Valley $40,500 & $70,000 .37 & 1.094 acres
• 1 Nice $27,950 .09 acres
• 1 Kelseyville $160,000 20 acres
• 2 Lucerne $89,000, $89000 .31/.31 acre

Foreclosed Condos

• 2 Lakeport $171,500 - $229,900

Foreclosed Ranchs

• 1 Kelseyville $595,000 7.5 acres
• 1 Clearlake Oaks $1,210,000 145 acres

Commercial Foreclosures

• 1 Clearlake Oaks $1,100,000 Motel & Deli

Call or email me, for listings in the area you're interested in, emailed or faxed, to you. ---Larry Littlejohn Realtor-Broker 707-998-3035, larry@goldcirclerealty.com , www.goldcirclerealty.com

*We have properties that are affordable and a bargain that are not foreclosures. Cashflow investment properties available.

By Ray Perry

LAKE COUNTY, CA-Home sales increased 15.8 percent in July in Lake County compared with the same period a year ago, while the median price of an existing home fell 25.9 percent, the Lake County Multiple Listing Serves (MLS) reported.

"Sales improved significantly in July 2008," said California Association of Realtors (C.A.R.) President William E. Brown. "Deeply discounted, distressed sales continue to drive volume in many regions of the state.

"Year-to-year increases in the number of transactions ranged from a 6.7 percent increase in the San Francisco Bay Area to a 176.5 percent increase in the Riverside/San Bernardino region," he said. "In general, greater percentage gains occurred in lower-priced areas that had been most adversely affected by the market downturn since late 2005 and that are concurrently experiencing the biggest declines in prices."

Closed escrow sales of homes in Lake County totaled 88 in July according to information collected from the MLS. Countywide home sale activity increased 15.8 percent from the revised 76 sales pace recorded in July 2007. Sales in July 2008 increased 41.9 percent compared with the previous month.

The median price of a home in Lake County during July 2008 was $200,000, a 25.9 percent decrease from the revised $270,000 median for July 2007, the MLS reported. The July 2008 median price fell 8.9 percent compared with June's revised $219,450 median price.

"Once again, the 40.3 percent year-to-year decrease in the median price of a home was an all-time record, surpassing the previous record set in June with a 37.9 percent decrease," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. "Since the statewide median remained in the $585,000 - $595,000 range through August of last year, the market will continue to experience significant year-to-year adjustments through August even if the median price holds steady over the next few months," she said. "The statewide median was last in the $350,000 range in early 2003."

The Lake County market as well as the rest of the country is being driven by the large volume of foreclosures at this time. Sellers who are not in foreclosure have to compete in the existing market. This is not a problem if they have some equity in their home and are planning to buy right away, their next home may also be selling at a reduced price so it is relative to the situation. As volume of sales increase eventually so will the prices. We may see a slight drop in volume over the next few months as the foreclosure market gets snapped up but it appears that we are at or close to the bottom of the market. The savvy buyer should take advantage of the low prices while they can.

Highlights of Lake County's Housing Figures for July 2008:

• Lake County's Unsold Inventory Index for homes in July 2008 was 13.7 months, compared with 18.5 months for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

• Thirty-year fixed-mortgage interest rates averaged 6.47 percent during July 2008, compared with 6.70 percent in July 2007, according to Freddie Mac. Adjustable mortgage interest rates averaged 5.24 percent in July 2008, compared with 5.71 percent in July 2007.

• The median number of days it took to sell a single-family home was 148 days in July 2008, compared with 134 days (revised) for the same period a year ago.

To find what your home is worth, call Ray Perry.

Ray Perry is a Realtor® with CPS Country Air Properties and can be reached at 707-277-8000 Ext 101 or email http://www.move2lakecounty.com/content/contact.html

On Sunday September 7, 2008 at 11:00 AM the Treasury Secretary of the United States announced that the government will be taking Fannie Mae and Freddie Mac into conservatorship.

The first thing to understand is that conservatorship simply means control. Fannie Mae and Freddie Mac, also known as agencies, are the backbone of the real estate and mortgage financing markets. These agencies are responsible for making sure that there is always adequate funding for consumers to obtain mortgage financing for real estate.

Fannie and Freddie are government sponsored agencies, which means that the government created them. However, up until Sunday, the government did not control them. Fannie and Freddie are public corporations.

As you have been hearing reported for the last few months, both of these agencies have been suffering financial losses in the billions of dollars. These losses are directly related to the national housing and financing crises that exists.

The record number of foreclosures, mortgage delinquencies and personal bankruptcies are destroying the value of the mortgage securities that Fannie and Freddie hold in their portfolios. Simply put, mortgage securities that are held by these tow agencies are backed by the consumers ability to pay their mortgages on time. When consumers are not able to pay their mortgages, and the value of real estate declines, the securities that these agencies hold, loose value. This results in the agencies inability to operate and ensure that additional funding will be available for future lending. In the end, they cannot survive without help.

The bottom line is that the current credit crisis has reached epidemic proportions and that the survival of Fannie and Freddie is a must. The government stepped in to take control was the only solution to ensure that funding will be available for mortgages and to provide stability to the housing market.

What does this mean in general?

Below are bullet points that explain the major aspects of the government takeover and how it will affect the market.

• The United States Treasury now has the ability to provide an unlimited amount of funding to purchase mortgage backed securities from these agencies. The ability for Fannie and Freddie to sell their securities that money will remain available for lending.

• The government control means that these companies are now backed and controlled by the government. This will almost immediately begin to create stability within the financial markets. The stabilization of the financial markets is one of the first steps to creating an economic recovery.

• The bailout of these agencies will be paid for by the taxpayers, however unlike the Bear Stearns bailout, the stockholders in Fannie and Freddie will not be rewarded. Treasury Secretary Paulson has made it very clear that prior to any stockholder receiving any dividends from either Fannie or Freddie; the taxpayers must be paid back first.

• At the present time there is no estimate as to how much the bailout will cost the taxpayers. A major factor in determining the total cost will be determined by how quickly the financial and real estate markets stabilize.

• Interest rates are expected to remain stable for mortgage financing over the next few months. Rates are significantly lower since the announcement making financing more affordable. As of Tuesday morning Jacie Casteel from Sterling Mortgage in Lakeport reported that rates have dropped to 5.875 with zero points for a 30 year fixed Mortgage.

What opportunities exist for homeowners and homebuyers?

• With the stabilization of the markets, the decline in property values is expected to slow down. If you have been waiting for values to drop further, it is possible that the bottom is very near and sitting on the sidelines much longer may cause your cost of homeownership to increase. The time to act is NOW.

• Lending guidelines may get a little tougher with new government control. This potentially means that accessing funds for mortgage lending may become a little more challenging and make it harder for borrowers to qualify. Once again, if you have been waiting to purchase or refinance your home, now may be one of the most affordable times to do so.

There are many unknowns pertaining to the takeover of Fannie Mae and Freddie Mac. However, the takeover was a must and the actions of the government will eventually bring badly needed stability to the markets helping to reinvigorate the battered housing market in the U.S.

To find out how this effects your property value go to http://rayperry.com

Clear Lake homes for sale: 09/13/2008 for Lake County, California

There 2382 Properties for sale in Lake County( all inclusive)

-1180 homes with land; 116 mobiles(no land); 42 multi-family properties; 969 Lot & land parcels; 95 commercial properties

Numbers for the 945 Single Family Homes for sale (non-manufactured)

# on the market(mkt) / Median $ on mkt./ $ range on mkt. / Days on the mkt(DOM) Range / Median DOM

• 3- Anderson Springs Median = $229,000 /$range=$259,000-1,150,000/DOM120-442/Median DOM=165
• 2 - Blue Lakes $265,000 & $479,000- 13 days & 76 days
• 17 - Buckingham $549,000 / $310,000- $2,950,000/ 8 - 592 days/ 135 days
• 58 -Clearlake East $169,500 / $50,000 - $1,150,000/ 8 - 558 days/ 90 days
• 22- Clearlake Oaks $179,000/ $85,000 - $999,900 / 4 - 506 days/ 77 days
• 31 - Clearlake Keys $295,000/ $155,000 - $499,000/ 2 - 492 days/105 days
• 77 - Clearlake N/W $167,900/ $49,000 - $895,000/ 3 - 879 days/ 83 days
• 41 - Clearlake Park $239,000/ $76,000- $1,125,000/ 2 - 1156 days 118 days
• 34 - Clearlake S/W $170,000/ $105,900 - $599,000 / 5 - 1283 days/145 days
• 72 - Clrlk. Riviera $279,000/ $75,000 - $750,000/ 10 - 707 days/ 104 days
• 48 - Cobb $279,000/ $130,000 - $579,000/ 16 - 767 days/ 104 days
• 5 - Gleanhaven $350,000/ $335,000 - $2,500,000/22 - 767 days/ 124 days
• 142-Hidden Valley $250,000/ $137,5000 -$750,000 / 2 - 752 days/ 109 days
• 8 - Jago Bay $895,000/ $379,000 - $1,690,000/ 31 - 469 days /160 days
• 21 - Kelseyville(area)$379,900/ $110,900 - $999,000 / 11- 409 days / 89 days
• 25 - Kelseyville $449,000/ $154,500 - $900,000/ 12 - 739 days / 93 days
• 2 - Kono Tayee $299,900 &$569,000 114 & 345 days
• 3 - Konocti Bay $540,000/ $350,000 - $888,500/ 24 - 613 days/ 162 days
• 4 - Loch Lomond $249,000/ $184,000 - $390,000/ 45 - 377 days /148 days
• 25 - Lower Lake $350,000/ $89,500 - $985,000/ 16 - 413 days/ 101 days
• 36 - Lucerne $199,000/ $82,250 - $839,000/ 8 - 683 days/ 128 days
• 24 - Middletown $449,000/ $237,900 - $1,200,000/25- 884 days/ 152 days
• 1 - Mount Hannah $145,000/ 40 days on market
• 18 - Nice $265,000/ $99,000 - $799,000/ 9 - 399 days / 66 days
• 8 - Paradise Cove $695,000/ $549,000 -$1,400,000/ 5 - 537 days/ 125 days
• 6 - Pillsbury $227,000/ $144,900 - $499,500/ 43 - 473 days/ 152 days
• 17- Riviera Heights $248,000/ $175,000 - $429,000/ 14 - 286 days/ 98 days
• 16 - Riviera West $349,000/ $249,000 -$538,000/ 26 - 726 days/ 124 days
• 2 - Scotts Valley $757,700 & $799,000 - 20 days & 1078 days
• 5 - Soda Bay $384,000/ $350,000 -$1,100,000/ 58 - 209 days/ 74 days
• 19 - Spring Valley $234,000/ $59,000 - $549,000 / 9 - 693 days/ 134 days
• 2 - Twin Lakes $357,500 & $479,000 38 & 347 days
• 14 - Upper Lake $399,000/ $139,000 - $900,000/ 5 - 322 days/ 134 days
• 2 - Windflower Pt. $839,000 & $889,000 67 & 205 days

Lots and Land parcels for sale: 969 parcels

• 709 - less than 1 acre/ Median $=$39,000/ Range = $3,000 - $379,000/ 4 - 1427 days / 191 days, median
• 260 - over 1 acre / Median $=$251,000/Range = $15,500 - $9,000,00/ 1 - 1693 days/ 179 days, median

Call or email me, for listings in the area you're interested in, emailed or faxed, to you. ---Larry Littlejohn Realtor-Broker 707-998-3035, larry@goldcirclerealty.com , www.goldcirclerealty.com

*We have properties that are affordable and a bargain that are not foreclosures. Cashflow investment properties available.

Pool Party In Clear Lake, Around Your Pool

Can't get to the water today? Want to bring the water to you? Buy a property around the Clear Lake, that has a below ground pool, that comes with it. There are 41 properties around the lake that are for sale and that include a below ground pool. Not only do these properties have a pool, but, many have lake views and are on the lake or very close to it. The price range from these disireable properties is currenty:

31 Single Family Homes: $225,000 - $2,950,000

7 Condos: $219,000 - $310,000

3 Ranches: $659,000, $975,000 & $9,000,000(awesome complex with commercial business)

We have affordable properties for sale in Clear Lake, Califonria --- Larry Littlejohn, Broker-Realtor 707-998-3035 larry@golcirclerealty.com, www.goldcirclerealty.com