Lynn Franklin

Paradise's real estate activity over the last couple of week's has been relatively slow and steady. Interest rates remained low, experiencing virtually no change, going from 5.68 to 5.67 for the 30 year fixed rate. There were 9 Paradise properties that went under agreement and 5 properties that closed escrow. Most of the activity again took place on manufactured homes and those Paradise homes listed under $300,000. We saw a very large number of price reductions last week in Paradise as sellers attempt to get their properties noticed amidst the large amount of Paradise properties for sale. So the story hasn't changed much this week in Paradise; great interest rates, plentiful inventory, resulting in a perfect market to buy real estate in Paradise.

Although the Magalia real estate market did have 12 new listings and 11 price reductions last week, we are finally starting to see it come to life again. There were 8 properties that went under agreement and 2 that closed escrow. This was a significant increase in activity over previous weeks. The majority of the activity took place on homes under $250,000 as well as manufactured homes. There is still very little activity on land and properties over $450,000. The interest rates remained low, experiencing virtually no change, going from 5.68 to 5.67 for the 30 year fixed rate.

Do you have cabin fever? It is that time of year when everyone is ready for spring. We have had some tough weather this winter here in Paradise and I am ready for a change of scenery. Luckily the Butte county community is hosting some great events towards the end of this month and into March. One that sticks out in my mind is the California Nut Festival which is going to be held February 21^st through February 24^th right in the midst of Almond Blossom season. The event will be held at a variety of locations in Chico, you can click this link for a full detail of events and locations during the 4 day festival. Some pre-festival events will even start this weekend where merchants will be hosting tastings, tours, and demonstrations. This event makes me feel like spring is right around the corner!

And with spring right around the corner, the Paradise real estate market will be starting to pick up speed. This is when prospective Paradise home buyers start stopping in at open houses and more aggressively looking on-line at properties. If you have any questions about how you could fit into this spring Paradise real estate market, either as a buyer or seller, just let me know. I'd love to help out.

It was a very slow real estate week in Magalia. The most activity we saw was a number of properties leaving the market due to their listing expiration. There was a total of 5 new listings, 1 listing that went under contract, and 2 listings that were sold. Another 3 listings experienced price reductions. Despite the low activity levels, mortgage rates continue to remain at near record lows with for sale inventory staying high. Therefore the opportunities for Magalia area buyers are still fantastic and prevalent. If you have questions about how to enter the mortgage market or Magalia homeownership, please just give me a call.

The Paradise Real Estate market had some great activity this past week with 9 sold properties and 9 properties that went under contract. There were 16 new listings that hit the Paradise market, with 7 listings expiring, and 13 listings undergoing price reductions. The bulk of the properties that go under contract and sell, continue to be manufactured homes and single family residential homes priced under $250,000. With the mortgage rates still remaining at near record lows, and plenty of Paradise real estate opportunities on the market under $300,000, now is an amazing time to enter into Paradise homeownership.