A mile closer to heaven July 27, 2015 Issue 172
Arrowhead sales do not have the same momentum as state primary residences
Guru Bob & Patsy Bailey
This year the Blue Jay Jazz Foundation will present two new artist to our stage, while bringing back Poncho, a beloved fan favorite!
August 1st – Lao Tizer (Featuring) Karen Briggs… August 8th – The Legendary Poncho Sanchez… August 15th – The Legendary Pete Escovedo
Last week we reported California and Lake Arrowhead Sale Prices. In the chart below we see a gap as Lake Arrowhead hasn’t kept up with the statewide sharp upturn. Economists explain that California’s primary residence market prices are rising due to low inventory and higher demand in a better economy plus a rush to beat the pending rise in mortgage interest rates.
ARROWHEAD WOODS has a high demand market from $200,000 to $400,000 with selling time of 3 to 4 months. An equally good sell time is $400,000 to $500,000 but a bit lower in the listed to sale ratio, with a 12 month inventory.
77% of all homes sold in Arrowhead Woods are under $500,000. Good News!
Over $500,000 the profile changes to lower sales, higher inventory and a longer time to sell. A longer selling time is not unusual for this vacation home market that is one to two hours from a buyer’s primary residence. It’s far enough to be a getaway, close enough to come often.
Demographics may explain inventory and sales sluggish upturn.
Since the 2006 recession we have had a loss of home shoppers under age 40, an exciting group that had never expected nor experienced any past market crash.
Second is age 60 and older who economists say have lost a part of their net worth and lost hard to replace savings and income since 2006.
We’re adjusting our marketing and sales presentations for fewer shoppers from these two cautious age groups.
The joy of Lake Arrowhead hasn’t changed, just the timing.
1. QUESTIONS: Call 909-496-8200. 2. SUGGESTIONS, IDEA: Send an email. 3. Add a friend’s email and share the joy. 4. ADVICE? Call Bob.
Learn your best price, when to sell, price trends, Q & A…
Call BOB 909-496-8200 or GuruBobInfo@gmail.com
Everything you want to know about Lake Arrowhead
Patsy Bailey Agent DRE# 01231416