Steven Keefe, Broker/Owner
Coldwell Banker Sky Ridge Realty 
www.mountainmoves.com
steve@mountainupdate.com
909.744.7690
The following matrix shows all single family home sales in Lake Arrowhead reported as sold to the Rim Association of Realtors for the calendar year 2011, it breaks down by price range the 3 types of sales.... Standard sales, Short Sales and REO sales or bank owned properties. What it reveals is that 65% of the properties in Lake Arrowhead last year were standard, non-distressed sales. 16% of the sales the seller negotiated a settlement on the mortgage (short sale) and, 19% of the sales came as a result of foreclosure. Lake Arrowhead has a lower percentage of distressed sales than any other community from Crestline to Green Valley Lake.
| Standard | Short | Bank Owned | |
| Price Range | Sales | Sales | Sales |
| 0- $299k | 81 | 24 | 54 |
| $300k-$499k | 64 | 21 | 7 |
| $500k-$999k | 39 | 5 | 1 |
| $1Mil+ | 28 | 1 | 0 |
| Total Sales | 212 | 51 | 62 |
| % of Market | 65% | 16% | 19% |
The next matrix shows at what percentage of asking to sales price the homes sold for in each price range and for each type of sale. Homes in Lake Arrowhead over the last 12 months sold for on average of 94% to 96% of asking price. What this means is that for the homes that sold, buyers were able to negotiate between 4% and 6% off of the asking price. Buyers often think that it is normal that they will be able to come in and cut a "fat hog." What the data demonstrates is that in fact when a seller has it priced correctly, a discount of very little off the asking price is necessary to make a deal.
| Standard Sales | |
| List Price to | |
| Price Range | Sale Price Ratio |
| 0- $299k | 94% |
| $300k-$499k | 96% |
| $500k-$999k | 95% |
| $1Mil+ | 92% |
| Standard Sale Average | 95% |
| Short Sales | |
| List Price to | |
| Price Range | Sale Price Ratio |
| 0- $299k | 98% |
| $300k-$499k | 95% |
| $500k-$999k | 88% |
| $1Mil+ | 84% |
| Short Sale Average | 96% |
| Bank Owned Sales | |
| List Price to | |
| Price Range | Sale Price Ratio |
| 0- $299k | 94% |
| $300k-$499k | 92% |
| $500k-$999k | 99% |
| $1Mil+ | |
| Bank Owned Average | 94% |
For sellers the key is making sure that you are value priced, or you are not going to even get offers. In the past, a seller could hold his price knowing that they would take a much lower offer and it would work. In the current market, this strategy doesn't work. The data shows that only the homes that are priced 4% to 5% above what they will actually sell for are the ones that will get offers and sell.
I hear sellers say all the time. I don't want to reduce my price.... someone will make me an offer.... the fact is Mr. Seller they won't.
Serious sellers list their property with a company that gets results. That company is Coldwell Banker Sky Ridge Realty. If you are a homeowner needing the assistance of a professional nationally recognized firm don't hesitate to contact me at the office..
Coldwell Banker Sky Ridge Realty sells more homes than anyone on the mountain. In these tough economic times sellers need every advantage possible to obtain the best results. Coldwell Banker Sky Ridge Realty offers those advantages.
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