Overall activity and sales for real estate and homes here in Lake County is still quite slow compared to the expected seasonal increase during this time of year.
Besides the continued mortgage problems and foreclosures there are many potential buyers 'waiting' to see if prices drop further.
Home prices in most categories appear to continue dropping although it is most apparent with entry level homes in subdivisions or on city lots. Homes and property on Clear Lake hold their value stronger with a limited supply, but buyers are still slow to make an offer offer and are looking for a 'deal' so activity is still slow.
In the waterfront home category (channel front) there have been many foreclosures. Competing sellers have been reducing prices trying to attract a buyer as there is limited activity.
Most people agree that eventually the real estate market will improve, but the question how soon.
Otherwise, mortgage rates are still quite reasonable at around 6% and it is a great time to buy with all the lower priced homes to choose from.
Click here to see lakefront homes for sale on Clear Lake - by price or by bedrooms.
Labels: california, Clear Lake, lake, lake county, lakefront, property values, waterfront
# posted by
Michelle Perry @ 11:50 AM