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Redwoods in the News

by Katie Hall, Communications Manager

If you haven't picked up a National Geographic Magazine this month you should! They have put together a wonderful article on the impressive Redwoods that we have the privilege of living amongst. The photos are absolutely amazing and many of them show just how beautiful our area is.  You can also read the article online http://ngm.nationalgeographic.com/redwoods/redwoods.

August Market Conditions

by Dean Kessler

Our Eureka area real estate market continues to show positive signs of recovery. Maybe a little slow, yet strong signs of a recovery just the same. And even though there where less homes sold in August then in July, the number of homes going under contract in August is huge, a whopping 69% increase over the same time last year. I’m very excited about the numbers we’re seeing, and the increased volume of buyer traffic thru our office.

             Home sellers, this is great news as homes are selling faster and for more money than previous months. 

This month, twelve of the homes sold where 3 bedrooms with a sales price between $166,950 and $470,000. Only six homes sold where 4 bedrooms with a sales price between $205,000 and $420,000. Of the majority of homes sold, sixteen where priced between $145,000 and $255,000. Four homes sold where priced between $279,500 and $300,000. We recommend home sellers in these two price ranges price their home aggressively with the mindset of accepting an offer within 3% of their asking price. .

The top 3 groups of homebuyers:

  • 37% were 1st time homebuyers
  • 19% were move-up buyers
  • 15% were investors

 

For the first time this year, investor buyers made it into the top 3 buyer group. 19% of the home sales last month where REO, or bank owned properties. I’ve noted  that the REO properties are selling at or above the bank’s asking price. If you find yourself in a distressed situation where you are behind on monthly payments or think you may be late soon, contact us right away. Dean is the only real estate agent in Northern California that is an Advanced Certified Distressed Property Expert (CDPE).

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 CA Department of Real Estate #01313330