![]() |
|
|
This post deals strictly with ARROWHEAD WOODS statistics as compared monthly to the prior year's activity. This report is for single-family residences only and does not include lakefront homes, condos or lots. We are tracking information regarding new listings and properties sold. We are also looking at some of the averages - days on market and the list to sale percentages. Lastly, we are seeing how many listings had to reduce their original list prices before they received an acceptable offer.
March | 2007 | 2008 |
New Listings | 92 | 62 |
Listings Sold | 35 | 14 |
Average Days On Market | 155.8 | 211.1 |
Number of Price Reductions | 18 of 35 (51.4%) | 9 of 14 (64.3%) |
Though fewer listings (down by roughly 1/3) and sales (down by 60%) occurred this March than last year, median list prices and sale prices are up. Days on market have increased by almost two months and sellers are willing to negotiate more off their list price than one year ago. The number of properties that required a price reduction before they received an acceptable offer are up over 10% from this time last year.
*Figures taken from Rim O' the World Multiple Listing Service and are deemed reliable, but not guaranteed.
![]() |
|
|
According to local MLS statistics the median price of homes in Lake Arrowhead is up 19.7% for February 2008 from February 2007.
This included 18 home sales strictly in Lake Arrowhead. The median price of a single family residence in Lake Arrowhead for February was $470,000.
Based on the above facts Lake Arrowhead showed the highest % gains in all of San Bernardino County!
95% of all other cites in San Bernardino County reported losses up to a whopping 67.6%! OUCH.
Long Live Lake Arrowhead!
Nathan Diones
![]() |
|
|
Whether you're looking for shopping, boating, relaxing, moutain biking, wake boarding, great food, or anything else, chances are that you'll find what you're looking for in Lake Arrowhead. If you're looking to buy property here, or if you're just going to visit, there are several things that you will want to know and be aware of:
Most importantly, you should know that Lake Arrowhead is a private lake. Not just anyone can come up and put a boat on the lake or throw a fishing line in the water (like at Big Bear Lake). You MUST own land within the boundaries of Arrowhead Woods in order to enjoy the lake and the recreational activities associated with the water.
People who own property in Arrowhead Woods (including lakefront homes) have "lake rights." These rights enable such things as: putting a boat on the lake (with proper registration, insurance, etc.), owning a dock, fishing, swimming and utilizing the beach clubs (with a paid annual membership).
"Full" lake rights apply to those who own improved property in Arrowhead Woods. Those who own unimproved land also have lake rights, but those rights are limited and restrict them to day use of the lake only (they cannot own a dock).
ONLY people in Arrowhead Woods have "lake rights." No other community in the mountains has these rights. If you would like to know if a specific area or address is within Arrowhead Woods boundaries, please call us.
Accordingly, people owning property in Arrowhead Woods are also subject to Arrowhead Lake Association and Arrowhead Woods Architectural Committee rules and regulations.
Because of the added benefits of lake use, properties in Arrowhead Woods are typical more expensive than comparable homes outside of "the Woods." They also tend to have higher re-sale values. Right now, prices in Arrowhead Woods start in the mid- $200,000's, with median list prices hovering around $500,000. Lakefront homes are starting in the high $900,000's and go up to several million dollars.
Our local area brokers have a gentlemen's agreement that eliminates "for sale" signs being posted on properties in Arrowhead Woods. Therefore, if you are interested in seeing homes while you are in Lake Arrowhead, please call us so we can give you information about what homes are currently listed. Driving around to look at open houses will only show you a minute fraction of the homes actually on the market. Don't waste your time looking at open houses that aren't even in your price range - call us and we will put together a number of properties that meet your individual wants and needs.
![]() |
|
|
As you may already know I live in Lake Arrowhead, CA. It is a very small lakeside reosrt community in southern California. I must say and agree with the fact that 20% of the agents in our community do 80% of the work. This is true. We have a private MLS up here which is not available to agents outside of our community (unless they go through hoops to join and cough up the money..its expensive).
To benefit my clients I'm a member of 3 different MLS / Boards. Thus doing so gives my clients huge marketing coverage and direct exposure to other agents all over California. So when an agent from Burbank, CA has a client in looking to buy a vacation home in Lake Arrowhead that agent can then search his local MLS and there is my clients listing. All the information he needs right there in front of him. Sounds easy huh?
But lately I've been searching the 2 MLS systems outside my community just for curiousity and have been finding numerous listings in my community that are listed with agents located over 60-120 miles away. These agents are not a part of our local MLS and does there client no justice by taking the listing. AND most of the time during the duration of the listing the agents dont even allocate the time for themselves to drive up to Lake Arrowhead and take at least 1 PHOTO! This is amazing to me! I have seen a lucky 1 or 2 sell by this method and by all means thats great congrats and I would advise you to purchase a lottery ticker after closing. Because that is about 1 in a million chance.
This has really hitting me lately. I would never a listing that is over 100 miles away knowing that I cannot service it properly. This does the seller absolutely no justice whatsoever. I would bet money that most sellers in this scenario have absolutely no clue about this either.
Closing Point To Sellers: Always hire a local professional (thats what we are here for) vs. hiring your friend or relative that lives 2 hours or more away. Your shooting yourself in the foot before you even get ot the door.
Feedback Encouraged,
![]() |
|
|
Below is a link to a web cam posted in Lake Arrowhead Village. It is such a nice day today I figured I would share it with the entire AR commuinty! its sunny and warm today and the tempreture its supposed to be in the 60's. its a great day to be outside and soak up some sun.
http://www.lakearrowhead.net/webcam.html
Enjoy and Happy Easter!
Nathan Diones 909-709-3781
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved