Dry old numbers

I waited until close of business for July to do some sales comparisons for our area. Dry stuff but important if you're waiting for your home to sell, or waiting to buy one. These are all single family home figures for MLS only, no private sales, no condos, no mobile homes. Mobiles and condos are scheduled for future inclusion in the MLS count which will muddy the water for future comparisons. Greater Chico area 06 YTD, 511; 05 YTD, 660. Glenn county,(mainly Orland/Willows), 06 YTD, 102; 05 YTD, 120. Magalia 06 YTD, 77; 05 YTD 147. Paradise 06 YTD 180; 05 YTD 266. Do the figures have some meaning? Probably, but we can guess along together. Magalia suffered the greatest percentage loss and is farthest from occupation centers. Paradise is next farthest and suffered the next greatest loss. Chico is an occupation center and suffered the next greatest loss, while Glenn county suffered the least loss in sales and both major towns are freeway access communities. Coincidence or meaningful, I don't know. Fuel prices are impacting families greatly, particularly now with the surge in food prices. Utility bills in the heat wave are through the roof. We're paying PG&E well over the $1,000 a month mark for two small offices and one average home. I remember when we were a whole lot younger and we were sailing in Newport, CA harbor on a small sailboat we had just contracted to buy with the guy who sold it to us. He looked around and said " I wonder what the poor people are doing?" I told him two of them were sitting in the boat with him. Well here it is many years later and we're back in the boat.
Interest rates do not appear to be a major factor in buyer decisions. An appraiser acquaintance told me his office was picking up business, but most of it foreclosure work. Don't like to hear that. The trauma that people go through in that situation is a heartbreaker, never mind that they maybe reached a little too far and are now trapped. I hope those of us in the business have the chance to help them, but in an economy where it requires two incomes to buy a house, there are not many options available. This thing is starting to sound gloom and doomy, and that is not the intent or my reaction to circumstances. Real estate has always been cyclical and will always be so. If you want or need to sell a house, this is as good a time as any to do it. Likewise for buying. Anyone who believes they can pick the top or bottom of any market has probably never felt the thrill or chill of watching their stock portfolio expand or evaporate, seemingly without human intervention, so if you're in the mood to buy or sell, go for it. Just plan carefully and choose wisely.