We've had our first big rain of the season and waiting now for those mushrooms to appear! Real estate has been steady is some respects, new escrows and sales have remained about the same with sales up to 10. There were only 6 new listings which means at this point, we are putting more into escrow than are coming on the market, hopefully that trend will continue. This is still a great "Buyer's Market" and rates seem to get better every day. In Ric Edelmans new best seller, "Rescue Your Money", he lists 3 things that can produce the returns you need in investing to make your money grow; bonds, real estate and U.S. Stocks. He notes that the average Annual Return during 1979-2008 for real estate has been 10.3%, bonds were are 9.4% and U.S. Stocks at 11%. It might be worthwhile to look over your portfolio and talk to your accountant about investing in real estate at this moment.
Home Sales: Gualala (3) $349,00 - $710,000, Manchester (1) $149,000, Point Arena (1) $400,000. The Sea Ranch (5) $350,000 - $635,000.
Home Pendings:Annapolis (1) $275,000, Gualala (12) $195,900, Iversen (1) $536,500, Point Arena (1) $699,000, The Sea Ranch (3) $799,000 - $1,300,000.
New Listings:Elk (1) $575,000, Gualala (1) $995,000, The Sea Ranch (3) $295,000- $835,000. Timber Cove $495,000.