Lynn Franklin

Two good things happened last week in the Paradise Real Estate Market. The first was that the interest rates for a 30 year fixed rate mortgage dropped back down to 6.03 from 6.24. The second is that we had 12 Paradise properties go under agreement and another 10 properties close escrow. We therefore had 22 properties move off the market last week which is a great sign that Paradise buyers are out taking advantage of the lower interest rates and real estate inventory. There were only 9 price reductions last week in Paradise; this is a significant drop from the 27 price reductions we saw the previous week.

We also saw a shift in activity last week in the category of Paradise properties that experienced the most activity. Single family homes priced between $350,000 and $450,000 had the most properties go under agreement with 29% of the current inventory pending. The other 2 highest categories were those Paradise single family homes listed under $250,000 with 26% of the inventory pending, and the Paradise manufactured homes with 20% of the inventory pending.

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 http://www.lynnshometeam.com/

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.

Attention prospective Paradise real estate buyers, the sellers want you to know that they are willing to negotiate. We saw 27 price reductions take place last week as Paradise sellers attempt to get their properties noticed at the start of our spring market. Activity seems to be keeping the same pace as the last couple of weeks with 12 properties closing escrow and 7 properties moving under agreement. Currently there are a total of 316 listings comprising the inventory of the Paradise real estate market, with 215 of those listings being single family homes. There was a huge spike in activity in the single family homes under $250,000 with 30% of the current listings being under agreement. Another area that experienced a spike was those homes priced between $350,000 and $450,000 as 24% of them are now under agreement. Interest rates are still strong and competitive at 6.24% for a 30 year fixed rate mortgage.

Spring has definitely set in. The sun is shining a little brighter this week and we are seeing a slight pick up in the Magalia real estate market. In my opinion that is cause for a smile!!

This past week we had 4 properties close escrow and another 4 properties go under agreement. We also saw 17 properties experience price reductions signaling that Magalia area sellers are still trying to get the attention of Magalia buyers. There was a slight change in the areas of activity this past week, with singe family homes between $350,000 and $400,000 seeing 20% of their listings now under agreement. The manufactured homes still remain the strongest in this Magalia real estate market. Interest rates went up just a bit to 6.24% for a 30 year fixed rate mortgage.

This past Thursday, the Gold Nugget Museum, some local volunteers, and Mendon's Nursery made some great headway in restoring one of Paradise's most well known historical attributes; the apple. By planting 12 different varieties of apples, they took the first step towards developing a community apple orchard on the Gold Nugget Museum's grounds. The 12 varieties of apples were donated by Mendon's Nursery and then planted by the volunteers. All of the varieties have historical roots to Paradise from the 20^th century. The hope is that this orchard will provide a place for Paradise residents to learn and relax. With the orchard being right on the Gold Nugget Museum grounds , residents can take a museum tour that provides a history lesson of Paradise all while visiting the orchard to learn about tree trimming and various apple varieties

This type of improvement is invaluable to our community. Not only does it provide a place for the community to come together, but its beauty and charm make the town a more desirable place to live. This is important when thinking about your Paradise real estate investment and the long term condition of our Paradise real estate market.

So Thank You to Mendon's Nursery and all the volunteers that made this possible!