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Greg Steffens

Lake Arrowhead Real Estate: Falls Comes to the Mountains...Overnight!

Last night Fall made it's grand arrival. In the cover of night a storm swept in with wind, fog and drizzle. Today, the fog has come and gone all day, but temps are low....

Haley - 10/02/08

Haley in the Village (10/02/08)

Haley - 10/03/08

What a difference a day makes!

Haley in the Village - 10/03/08

Yesterday, we took Haley to the small pumpkin patch that is a part of the Agua Fria Hardware Store (just down the road from our office), so she could get a pumpkin to carve. She was very excited (as you can tell).

Haley at the Pumpkin Patch - Oct 2008

Trees are just starting to turn their brilliant Autumn colors....come see the spectacle for yourselves!

Lake Arrowhead Real Estate: Quarterly Statistics - Third Quarter 2007 vs. Third Quarter 2008

This post deals strictly with ARROWHEAD WOODS statistics as compared quarterly 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.

Q3 '07 vs Q3 '08

2007

2008

New Listings
Median List Price
List Price Range

193
$501.67K
$213.2K - $4.35M

206
$510.73K
$139.9K - $5.995M

Listings Sold
Median Sale Price
Sale Price Range

69
$501.48K
$230K - $2.3M

60
$394.17K
$95K- $1.497M

Average Days On Market
Average List To Sale Percentage

141.75
95.3%

139.15
94.9%

Though new listings were up, as was the median list price, the number of sales were down and the median sales price was WAY down (this tells me that the lower end of the market is where the deals are being done in '08). Days on market are slightly down and the list-to-sale percentage is down less than a half a percent.

Lake Arrowhead Real Estate: Monthly Statistics (Sept. '07 vs. Sept. '08)

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.

September

2007

2008

New Listings
Median List Price
List Price Range

39
$530K
$297.9K - $2.15M

64
$512.25K
$169.9K - $5.995M

Listings Sold
Median Sale Price
Sale Price Range

16
$512.5K
$299K - $1.6M

26
$472.5K
$95K - $1.497M

Avg. Days On Market
Avg. List To Sale %

160.25
93.8

156.84
94.4
Price Reductions 11/16 (68.8%) 15/26 (57.7%)

As you can see, there were 25 more new listings in '08 than in '07, though the median list price went down about $17K. House sales were also 10 up over the prior year, though the median list price went down $40K. Average days on market remained relatively unchanged and the average list-to-sale percentage went up a little more than 1/2 a percent.

Lake Arrowhead Real Estate: Weekly Market Update (09/21/08 through 09/27/08)

There were 37 new listings over the last seven days across our multiple listing service areas, bringing the total inventory of single family dwellings for sale to 1033. There are 97 homes currently in escrow and only 4 houses sold with an average days on market of 226.2 days (skewed because one of the four sold houses had been on the market for 544 days) and with an average list to sale percentage of 98.3%.

ARROWHEAD WOODS

New Listings

13

Median Price

$429,900

Price Range

$224,900 - $950,000

Active Listings

435

Median Price

$547,500

Price Range

$199,000 - $5,995,000

Pending Listings

41

Median Price

$375,000

Price Range

$169,900 - $899,000

Sold Listings

2

Median Price

$517,500

Price Range

$95,000 - $940,000

Avg. Days on Market

130.5

Avg. List To Sale %

95.0%

LAKEFRONT HOMES

New Listings

0

Median Price

$

Price Range

$ - $

Active Listings

36

Median Price

$2,200,000

Price Range

$1,150,000 - $9,950,000

Pending Listings

2

Median Price

$3,222,500

Price Range

$2,499,000 - $3,950,000

Sold Listings

0

Median Price

$

Price Range

$ - $

Avg. Days on Market

Avg. List To Sale %

%


SURROUNDING COMMUNITIES
(ARROWHEAD VILLAS, CEDAR GLEN, CREST ESTATES, CREST PARK,
DEER LODGE PARK, RIM FOREST, SKYFOREST, TWIN PEAKS)

New Listings

11

Median Price

$172,000

Price Range

$99,900 - $1,289,000

Active Listings

179

Median Price

$249,000

Price Range

$74,900 - $1,779,000

Pending Listings

14

Median Price

$171,950

Price Range

$129,000 - $299,000

Sold Listings

Median Price

$

Price Range

$ - $

Avg. Days on Market

Avg. List To Sale %

%

CRESTLINE

New Listings

8

Median Price

$177,375

Price Range

$79,900 - $262,000

Active Listings

169

Median Price

$245,000

Price Range

$59,900 - $799,000

Pending Listings

25

Median Price

$161,500

Price Range

$44,900 - $449,000

Sold Listings

1

Median Price

$129,900

Price Range

$ - $

Avg. Days on Market

4.0

Avg. List To Sale %

100.0%

RUNNING SPRINGS AREAS
(RUNNING SPRINGS, ARROWBEAR, GREEN VALLEY LAKE)

New Listings

5

Median Price

$259,900

Price Range

$89,000 - $299,000

Active Listings

214

Median Price

$252,400

Price Range

$49,900 - $4,600,000

Pending Listings

15

Median Price

$169,900

Price Range

$49,900 - $515,000

Sold Listings

1

Median Price

$135,000

Price Range

$ - $

Avg. Days on Market

544.0

Avg. List To Sale %

100.0%

* ALL FIGURES TAKEN FROM THE RIM O' THE WORLD MULTIPLE LISTING SERVICE AND ARE DEEMED RELIABLE, BUT NOT GUARANTEED.

Lake Arrowhead Real Estate: Who's Doing the Work? (Part 3 - Buyer Represented Sales)

So now it is time to discuss the other side of the coin - the sales where agents have represented the buyers. After the last two parts of this series (one dealing with active listings, the other dealing with sold listings) I wasn't surprised at all about the findings....

Of the 331 members of the association, 173 have not sold a single home to a buyer client this year (that's 52.3%). Another 62 agents have only sold one. Put those numbers together and you have 71% of the association with zero sales or one sale with a buyer client so far this year!

Eighty eight Realtors sold between 2 and 8 listings (26.6% of the membership base) and only one agent, according to my research, has sold more 8 listings to buyers....congratulations to Jay Houck of Top Producers in Running Springs, who has sold 12!

So what does this all mean to you as a buyer? Well, it means to me that only about 30% of the agents are doing anything and I think I'm being generous by saying that an agent who is selling more than one house to a buyer client is "doing something." We're nearly nine months through 2008...I have no idea how some of these agents are staying afloat.

But, I'm getting ahead of myself. In part four (the last of this series), I'll draw some conclusions from these three posts to guide you to finding a great Realtor to work with in the sale or purchase of your perfect mountain home. Stay tuned....