Celebrating the 4th of July on the coast includes; fireworks at the Point Arena Pier and the fun parade down Highway One in Point Arena! Highway One is actually closed off and on during the parade and when the highway in opened, the cars join the parade down Main Street!
HAPPY 4TH OF JULY!!! This is always a fun time on the coast with fireworks, the parade and a ton of visitors in town. Real estate has been seeing a lot more activity lately. Sales jumped again higher than last month and new escrows stayed at the high they reached last month so we are hopeful that we will have a good summer. There are still a few foreclosures hitting the market and those tend to keep prices low so we continue to see prices being lowered.
Home Sales: Gualala (3) $522,000 - $899,000, Iversen (1) $315,000, Point Arena (1) $435,000, The Sea Ranch (7) $450,000 - $875,000
Home Pendings: Gualala (4) $299,950 -824,995, Iversen (1) $315,000, Manchester (1) 399,000, The Sea Ranch (5) $375,000 - $3,750,000
New Listings: Anchor Bay (1) $549,000, Annapolis(1) $749,642, Gualala (6) $249,999 - $1,347,740, Iversen (1) 579,000, Point Arena (1) $499,000, The Sea Ranch (15) $380,000 (1/2 interest) - $999,949, Timber Cove (1) $459,000.
Billed as "one of the most scenic railroads in North America", the Skunk Train runs out of Fort Bragg each day. The old nostalgic steam trains only run on certain days so check the schedule ahead if you only want to ride on the steam train. The website is www.skunktrain.com. The train got it's name originally because of the smell of the old train. In the old days the train made it's daily run from Fort Bragg to Willits carrying supplies, mail and passengers to and from the coast. The trip through majestic redwood forests is truly a day to remember.
Last month sales doubled and new escrows were up almost 60%. This is good news and we are seeing multiple offers on some of the low end foreclosure properties. On a recent trip to San Diego and Napa I also discovered that people were dealing with sometimes 15 offers the first day of a listing in the low end of the market. I actually talked to several discouraged buyers that couldn't move fast enough to beat the competition. To me this means the investors are back in the market and as this low end moves, there will be a "trickle up" phenomenon. On the coast we are looking forward to the summer months when our sales increase dramatically.
Homes Sales: Anchor Bay (2) $451,000 - $470,000, Gualala (3) $255,000 - $539,413, The Sea Ranch (3) $550,000 - $578,000.
Home Pendings: Anchor Bay (1) $599,000, Gualala (2) $509,900 - $995,500, Iversen (1) $439,000, Point Arena (1) $535,000, The Sea Ranch (8) $425,000 - $1,098,000
New Listings: Anchor Bay (1) $499,500, Gualala (4) $299,900 - $995,000, Iversen (1) $439,900, Manchester (1) $399,000, The Sea Ranch (8) $$425,000 (in escrow) - $1,300,000, Timber Cover (2) $499,000 - $1,149,000.
The market in general seems to be in a "wait and hold" pattern, however the usual influx of "Spring listings" are hitting the inventory and new escrows were up slightly this past month.
Home Sales: Anchor Bay (1) $499,500, Gualala (1) $330,000, Irish Beach (1) $279,900, The Sea Ranch(1) $1,000,000
Home Pendings: Annapolis (1) $425,000, Anchor Bay (1) $499,000, Gualala (3) $225,000 - $325,000, Point Arena (1) $535,000, The Sea Ranch (3) $598,000 - $795,000
New Listings: Anchor Bay (2) $499,000 - $599,000, Gualala (5) $320,000 - $980,000, Iversen (1) $439,000, The Sea Ranch (9) $430,000 - $1,125,000
Each Spring the redwood forests on the coast come alive with color as the Rhododendrons come into bloom. There are wild ones throughout the forest and since it's such a wonderful habitat for the blooms, many locals have their gardens filled with the plants. Always a special time of year up here. Just north of Salt Point State Park is the Rhododendron State Park, stop by when you get to the coast.
It seems that each day there are new programs coming down the pike to try and get some needed help to this real estate market. Interest rates went up from their huge initial drop but are still in the 5's. The good news is that the loans do seem to be happening. Foreclosures seem to be the "hot item" even up here for the few that we've had. Market is staying about level for new listings and escrows, sales were up to 7.
Home Sales: Gualala (1) $420,000, The Sea Ranch (4) 499,000 - $785,000, Point Arena (2) $90,000 - $585,000.
Home Pendings: Anchor Bay (1) $499,500, Irish Beach (1) $279,500, The Sea Ranch (1) $1,300,000, Timber Cove (1) $299,000.
New Listings: Annapolis (1) $393,232, Anchor Bay (1) $499,500 (in escrow), Gualala (5) $365,000 - $1,997,000, Point Arena (2) $499,000 - $1,850,000.
The real estate market is starting to show some signs of life, much like Spring coming to the world with its' awakening! The weather may also be playing a factor in this phenomenon because it has be absolutely gorgeous up here! Crisp clear nights with a thousand stars, warm days with the sun sparkling off the ocean. Life doesn't get much better!
Home Sales: Point Arena (1) $2,295,000, The Sea Ranch (3) $400,000 - $1,700,000.
Home Pendings: Gualala (2) $319,000 - $459,000, Point Arena (2) $104,000 - $550,000, The Sea Ranch (2) $595,000 - $750,000, Timeber Cove (1) $560,000.
New Listings: Gualala (3) $459,000 - $549,500, Elk (1) $590,000, Iversen (1) 875,000, Manchester (1) $485,000, The Sea Ranch (4) $850,000 - $2,400,000, Timber Cove (3) $600,000 - $1,175,000.
Sales were lower in December but this is also typically a slow time for real estate in general. The good news is that mortgage rates hit a new low of 5.14% last week and applications jumped to the highest level in 5 years. 80% of the applications were for refinancing but there was an 11% increase for home purchase loans. Hopefully this will start an upward trend in home sales. A watchful eye is still on the economy in general.
Home Sales: Gualala (1) $305,000, The Sea Ranch (6) 460,000-$2,750,000, Timber Cove (2) $1,195-$1245,000.
Home Pendings:Gualala (1) $600,000, Manchester (1) $595,000, Point Arena (1) $550,000, The Sea ranch (2) $484,000 - $885,000.
New Listings:Anchor Bay (2) $459,000 - $475,000, Gualala (1) $895,000, Iversen (1) $879,000, Point Arena (2) $104,900 - $1,850,000, The Sea Ranch (4) $699,250 - $1,395,000.
As I write this a series of storms are coming down the coast from Alaska bringing beautiful winter scenes with it. While we love the summer and life on the beach, it is always breathtaking to witness some of the beauty amongst the powerful forces of nature in the form of winter storms. Gives a moment of pause and thankfulness for the wonders of this world.
