1 comment | Sunday, June 7, 2009
I have had many people ask me ”are things are starting to pick up in our oroville market”. So I have decided to post our weekly stats for you to come and look at for yourself. Oroville market is its own seperate market. We have not seen quite the devestation some areas have like Sacramento. For this we are lucky. When the market was good we were seeing people from out of the area come to purchase property and vacant land. However, without those buyers we are relying on mostly buyers from our area or relocation buyers. As we begin to get more lending options available ,like the tax credit, we will see an increase in sales which we are starting to see right now. 
It still seems to vary from week to week. Mortgage applications slow with each small raise in the interest rates. So until buyers understand that 5.38% is fantastic they will probably be buying later at 6-7% maybe more..! When was the last time we had low interst rates AND property values at the same time? As I said before NOW is the time to buy!
I will be adding a chart showing the comparison of 2007/2008 and 2009 up to the first quarter to get you caught up. Come back for weekly updates on how our market is doing!
Another great article. I really like the information you provide as well as the professional presentation. All I hear from other realtors is how bad everything is.