Lynn Franklin

Things are definitely looking up in the Paradise real estate market. After looking at the activity level of this past week, the local market is showing signs of improvement. We had 8 properties close escrow and another 15 properties go under agreement. There were 16 new listings that hit the market, which is promising considering we had the 15 listings that went under agreement. With 20 price reductions last week, it is clear that Paradise sellers are still eager to sell, and attempting to have their properties noticed amidst the 309 total listings currently on the market in Paradise. The most significant real estate activity in Paradise continues to be on those single family homes priced under $250,000. There was a slight increase in activity on single family homes priced between $350,000 and $450,000. Currently there are 27 properties on the market within this price range, with 6 of them being under agreement.

It feels as though more Magalia prospective buyers are out looking at properties and that the market may finally being waking up from its long winter slumber. Unfortunately, this activity does not seem to be reflected in the area statistics. The Magalia real estate market had another very slow week with only 1 property closing escrow and 3 properties going under agreement. Available inventory increased again this past week as 13 new listings hit the market and another 10 listings underwent price reductions. The majority of activity being seen in the Magalia market still remains within two categories; those single family homes being priced under $250,000 and manufactured homes. At the end of last week there were 235 real estate listings on the market in Magalia with 126 of them being single family properties, 59 of them being manufactured homes, and the remaining 50 being lots of land.

Just a quick post to all you Paradise goers!! Let's make sure we wish the Paradise Ladies Basketball team our luck and congratulations. Looks like they will be starting the playoffs as the No. 3 seed. Both the varsity team and the Freshman team had a great season!! The Freshman ladies went undefeated.

So if you see a Lady Bobcat out there..take a minute to say congrats and Good Luck!

Spring may finally be coming. After looking at the Paradise weather forecast for next week and at the activity level improvement of the real estate market, I think Spring may be around the corner. A cooler spring than years past, but spring no less.

The real estate market experienced a slight increase in activity with 10 properties going under agreement and 7 properties closing escrow. Little has changed on where most of the activity lies with the single family homes under $250,000 and manufactured homes making up the highest percentage of pending properties. There were however 17 new listings and 12 price reductions signaling that the Paradise real estate market is still very much in favor of the buyer. Interest rates also remained very low this week, experiencing virtually no change at all. They are currently at 5.72 for a 30 year fixed rate mortgage. Great buyer's market with many homes having a lower monthly payment than rent.

Last week was another light week in the Magalia real estate market. There were 9 new listings that hit the market, 4 listings that went under agreement, and only 1 listing that closed escrow. There are currently 229 total real estate listings in Magalia with only 13% of those listings being under agreement. This leaves about 200 property listings of inventory available in Magalia. The largest segment of the market is currently made up single family homes under $250,000, manufactured homes, and land. The majority of properties that are moving under agreement and closing escrow continue to be those homes under $250,000, as well as the manufactured homes. With interest rates still being very low at 5.72 for a 30 year fixed rate mortgage, the monthly payments on many of these properties is much less than renting. Ask me how to move into home ownership today.