SIERRA VALLEY REAL ESTATE UPDATE BONNIE JESSEE, ABR, RSPS REALTOR ASSOCIATE
Six month sales have been on the increase from the previous six month period. We have seen 19 closings in the Valley with the average per square foot price at $85.87. What is important to note is that of those 19 sales; 9 have been REO or bank owned properties which typically sell at a discount due to condition of the property. Banks are reluctant to make any repairs so they will discount the property to obtain a cash buyer as some of the REO properties could not qualify for lending. Only 3 of those sales have been in Loyalton while the rest of sales have been across the Valley. Pending sales in Loyalton currently show an increase in price per square foot to $97.13 (mind you, these sales have not as yet closed but I am basing that number on probable contract price). That is some good news for certain! Current listings and sales for six month have been all standard or non-bank owned properties in Beckwourth. Beckwourth’s price per square foot for sales is currently at $147.00 however; keep in mind these are acreage properties. Portola six month per square foot sale pricing is at $78.00; while per square foot asking price is currently averaging $112.00. Currently of the 20 active listings in the Portola Area (we are not including Grizzly Ranch or Gold Mountain); three are pending. Also on a positive note only one of the new listings is an REO property and two of the pending are REO properties while of the six month sales of ten properties half were REO sales. It is positive to see a decrease in short sales and bank owned properties coming on the market in recent months. Increasing demand for housing in the area will create higher pricing. If you are contemplating selling your home here are the TOP FIVE improvements to make that won’t break the budget: PAINT – inside/outside. Fresh paint is an instant upgrade and buyers will notice! CLOSETS – buyers will open closets and the neater it is the more they can envision themselves living there. EXTERIOR – walk outside and look at your home – landscaping is important! Just keeping it tidy is enough. And while out there – how do your windows coverings look from the outside? Consistent and neat is the goal. CLEANING – mega important. Wipe down walls and cabinets as well as doors and floors. Place a pleasant scent in your home also (candles are dangerous so use something else). Place inside cabinets rather than exposed. ENTRY – even if you don’t have a large foyer you can keep fresh flowers or other ‘welcoming’ items that instantly say – CLEAN and FRESH!



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