Jan Skrentny

Last week saw six houses sell in Arrowhead Woods. All were below original asking price and except for one they all sold for less than the e-mail attachment will attest to. The actual sales prices were $235,000, $238,000, $322,500, $360,000, $510,000 and $705,000. The last one sold for the more than asking. It is a lovely estate in Cedar Ridge that started out at $1,250,000 16 months ago. To see them please visit this link to rim.mlx.

The further from the lake the more price falls. Lake front, lake front gated communities and areas those adjacent to the lake like Tavern Bay and West Shore are holding price better than anything else. The Lake is what Lake Arrowhead is all about. Big view homes are also holding up fairly well but to get a large view you get further from the lake. Thus the conflict.

There were an increase in the number of houses going into escrow last week. Still, houses going into escrow and houses selling are not the same. Especially when those houses are Short Sales or REOs.

Owner owned homes will still command more because by and large they are in better shape and you can depend on the disclosures. Short sales take long, long, long and are full of silences and uncertainty. REO’s give no assurances of anything other than your inspections better be very good.

- Jan Skrentny

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