MONDAY ON THE MOUNTAIN’ Third Birthday, 156 issues. Thank you for reading, comments and blessing us as we serve our Lake Arrowhead community
It has been years since Arrowhead Woods had such a powerful first quarter report! We’re UP in all facets of our goals; higher sales and prices, especially price per square foot… which is an appraiser’s key measure of value to a buyer and bank.
ONE CAVEAT ABOUT ARROWHEAD WOODS buyers is the average home size square footage has not increased in the past three year. Buyers are more optimistic but paraphrasing ‘ buying no larger than we need’. A recent National Association of Realtors survey reported that vacation home buyers were purchasing homes 200 square feet smaller to hold to their price line. The prospect of rising prices may be spurring buyers to act sooner than later, as fixed rate mortgages are poised to rise later this year.
Lake Arrowhead is sharing in the big picture as the nation is now running at a record high with 2014 having the highest vacation home sales volume since 2003, topping even 2006. Mark Zandi, chief economist for Moody’s Analytics said the data might be “overstating the strength” of the vacation market.