Coastal Market Review

MONTHLY MARKET UPDATE 07/03/08

Historically June has always been a bit slower up here since many people are involved with graduations and weddings, but this June has proved to be even slower than slow!  There were only 2 houses that went into escrow. The only bright side is that there have been more people "looking" and "talking" about buying and it is hopeful that this will start to pan out in an increase in new escrows.  The closing sales were good, 15 in all, the result of the increased escrow activity in April and May.

Home Sales: Anchor Bay -1 ($455,000), Gualala -3($290,000 - $475,000), Irish Beach -1($490,000), The Sea Ranch-10 ($500,000 - $1,600,000)

Home Pendings: The Sea Ranch -2 ($719,000 - $1,575,000)

New Listings: Anchor Bay -2 ($369,000 - $380,000), Irish Beach -2 ($399,000 - $1,300,000), Manchester-1 ($449,000), Point Arena -3 ($215,000 - $2,500,000), The Sea Ranch -13 ($549,000 - $1,495,000)

Fort Ross: California's Russian Outpost

The 19th century Russian Empire extended as far as the Sonoma Coast of California and visitors to our coast may explore this unique historic site.  Now a State Historic Park, the buildings have been restored with care and accuracy.  In the early 1800's, Russia operated a profitable sea otter hunting operation in Alaska but needed a source of food not available in Alaska and looked south to the fertile lands of California.  The last Saturday in July each year, the Fort returns to its colorful Russian past when volunteers and staffers don authentic costumes and present Living History Day, highlighted by music, craft demonstrations, and historical characters.

MONTHLY MARKET UPDATE 6/03/2008

MONTHLY UPDATE 06/03/2008

Real estate activity was sparce over the usually active Memorial Day Weekend.  While there were visitors in town, those looking for real estate or visiting the many weekend "Open House's seemed fairly limited.  May had 8 homes and 6 lots go into escrow which shows that there is some activity but we would hope that that number would be increasing in the next few months!  Prices are still "adjusting" downwards as those few foreclosure properties and sellers needing to move more quickly, lower their prices in order to sell in this market.

Home Sales: Anchor Bay-2 ($325,000 - $1,250,000), Gualala -2 ($580,000 - $600,000), Point Arena -1($440,000), The Sea Ranch -1($649,900)

Home Pendings:  Gualala -1($519,000), Irish Beach -1($495,000), The Sea Ranch -6 ($799,000 - $1,350,000)

New Listings: Anchor Bay -2 ($599,000 - $775,000), Elk -1 ($2,995,999), Gualala -5 ($399,000 -1,290,000), Irish Beach -1 ($475,000), Iversen -1 ($675,000), Manchester -1 ($1,664,000), The Sea Ranch -7 ($550,000 - $1,125,000), Timber Cove -1($1,099,000)

Baby Whales Frolic

Baby Whales Seen Enjoying The Afternoon.  With these warm past few days we been having in California, we have enjoyed sitting outdoors in the late afternoons.  This is something you don't usually get to do in Northern California, living so close to the ocean and we were delighted the other day to be treated to a few whales gently rolling over in a lagoon close to a friend's oceanfront home.  It appeared to be some babies along with their mothers and they were not traveling up the coast in their usual hurry, but obviously taking a travel "break".  Perhaps they too sensed the warm air temperatures and it felt good to take a detour!  About 20 minutes later they rounded the point and headed off on their way North.  Just another one of those things we love about the coast!

MONTHLY MARKET UPDATE 5/1/2008

MONTHLY UPDATE FOR 5/1/2008

The number of homes going into escrow doubled this month!  The office is alive with buyers and people looking for property, certainly an excellent sign that we are on track for a fairly normal year "sales-wise" despite what we still hear on the news each night.  Of course we are aware that in our limited "resort type" area, we are not as exposed to some of the lending problems that are a reality in so many areas.

Home Sales: Gualala - 1($510,000), The Sea Ranch - ($686,000).

Home Pendings: Anchor Bay-2 ($375,000 - $489,000), Gualala-3 ($369,000 - $625,000), Point Arena-2 ($295,000 - $495,000) The Sea Ranch-2 ($775,000 - $1,595,000).

New Listings: Anchor Bay -1($379,000), Gualala-8 ($369,000 - $995,000), Manchester-1($299,000), Point Arena-3($598,000 - $875,000), The Sea Ranch-12($495,000 - $1,950,000) Timber Cove-2($549,000 - $779,000).

Positive Signs???

It seems the market is on the move again.  In years past we usually see a little "up-tick" in buyer interest after April 15th.  I'm sure there are many reasons for this, but I've alway s felt it was due to the fact that people were busy doing their taxes and then after they did their taxes, their accountant told them they needed some "write-off"s" and real estate was a good area in which to invest.

What we have been seeing in the past few weeks is an increase in buyer inquiries (internet, sign calls and ad calls) and also in our area, there have been buyers out looking at properties.  For the first time in many months, I was out showing property to 4 different buyers in 3 days!  In addition to that, we are seeing an increase in offers being written.

Economists are always telling people that you can't really time the exact bottom of the stock market or in our case, the real estate market, since by the time we think it is the bottom, it has already been going back up.  I am hopeful that we are maybe seeing that condition.  Only the next few months will tell the true story, but it looks hopeful!

MONTHLY MARKET UPDATE 4/1/2008

MARKET UPDATE FOR 4/1/2008

The real estate market seems to be slowly coming to life.  March was still pretty slow but during the past few weeks we've had vacationing families up for "spring break" and we've noticed more "showings" going on with our listings.  Also we are hearing that the real estate Internet sites are getting more and more visitors lately, all good signs that 2008 may be seeing the "bottom" of the market up here anyway. We do have a few foreclosure sales or "bank owned" properties on the market, but they are few and far between and seem to be going into escrow pretty quickly.

Home Sales: Point Arena -1 ($750,000), The Sea Ranch -3 ($521,709 - $1,195,000)

Home Pendings: Gualala - 2 ($549,000 - $625,000), The Sea Ranch - 3 ($649,000 - 1,375,000)

New Listings: Anchor Bay -1 ($739,750), Gualala -6 ($369,000 - $1,295,000), Irish Beach -6 ($589,000 - $1,285,000),  Manchester -2 ($449,000 - $649,999), Point Arena -1($295,000), The Sea Ranch -17($599,900 - $1,467,000), Timber Cove -1($615,000)

6th Annual Whale & Jazz Festival

They're Back!!!  It's Whale Watching Season Again

Pods of whales heading North are once again visable along the coast and commerative celebrations are happening up and down the coast.  The 6th Annual Whale and Jazz Festival is coming up April 3rd through April 13th in the Gualala area.  Documentary Films, Gourmet Dinners, "Motown Jazz Soul Revue" and the main event "Jazz Prodigies, A rare Moment in Time" are just a few of the exciting events waiting for you to enjoy.  For more information on the eleven events go to www.WhaleAndJazzFestival.com

Al, the local Albatross

  Al, the albatross is a landmark in Point Arena.  This large sea bird looks a lot like a giant sea gull.  Each year for the past number of years, Al has returned to the area to spend the winter months.  He has always been alone and he lives mostly at the Point Arena Pier where there are a number of fishing boats and surfers.  He seems to have a real liking for the surfers and will many times come right up to them.  I understand that if you hold out your hand he nips a little, but it doesn't really hurt!  A bird of that size can sometimes startle the unsuspecting person, some albatrosses have a wingspan exceeding over 11 feet.  The other day, my son met up with Al and a friend took this picture. There is a sign out on the pier about Al the albatross and each winter it's always a special day when we hear that Al has returned!

MONTHLY UPDATE FOR 3/1/2008

MARKET UPDATE for 3/1/2008

The real estate market is still pretty quiet up here, but this is that time of year when it is normally quiet.  Easter vacation/spring break time is at the end of March this year, so we should start to see more activity.  The good breaking news  of the moment is the increase in loan limits for "conforming" loans to $662,500 in Sonoma County and $512,500 in Mendocino County.

Home Sales: Gualala - 1 ($275,000),The Sea Ranch - 5 ($510,000 - $1,450,000)

Home Pendings: Point Arena -1 (495,000), The Sea Ranch - 1 ($543,000)

New Listings:  Anchor Bay -3 ($375,000 - $495,000), Annapolis -1 ($1,195,000), Gualala -2 ($397,000 - $750,000), Iversen -1 ($605,000), Manchester -1 ($895,000) , The Sea Ranch - 4 ($715,000 - $1,395,000)