SQUARE FOOTAGE. The price per square foot has become the most important pricing tool used by home shoppers and owners. In the last six months, the cost per square foot rose only 5% even as the median price rose 18%. Smaller homes lead the way in our mountain market recovery. Buyers are learning they can find joy in the mountains with fewer bedrooms, baths, smaller or less additional space. The price per square foot has become a budget tool for home shoppers.
NEW CONSTRUCTION also rises and falls on the price per square foot. California real estate agents are required to post the livable size of a home in square feet, including closets, stairways, every permitted interior square foot. 26 new construction homes have been built in Arrowhead Woods since 2010; average price, $683,000, $227 per square foot.
TAXES AND HOMES BUILT BEFORE 1984. Prior to 1984, the measured livable size of an Arrowhead home was pretty loose. Building and Safety issued permits for the original size, but often didn’t measure the completed size and later expansions. As homes changed owners the County realized missing footage was lost revenue. A serious effort has been made to bring tax rate / accurate footage up to date and darn successful as most property owners know.