Canyon Lake Real Estate Trends Issue CL05 | Page 2
Real Estate Trends Newsletter
BROUGHT TO YOU BY
JUSTIN BEVINS
REAL ESTATE MARKET REPORT
Canyon Lake Market Report
Sunday, May 4, 2014
Your one page analysis of current market conditions.
Berkshire Hathaway Home Services
[email protected]
A = Average Value
M = Median Value
N/A = Not Available
Price Range
Low
High
$99,999
$199,999
1
$200,000
$299,999
20
$300,000
$399,999
37
$400,000
$499,999
22
$500,000
$599,999
19
$600,000
$699,999
18
$700,000
$799,999
5
$800,000
$899,999
9
$900,000
$999,999
3
$1,000,000
$1,099,999
1
$1,100,000
$1,199,999
2
$1,200,000
$1,299,999
1
[2]
Current
List
Price
A
67
$ 107,000
67
$ 107,000
A
70
$ 264,526
M
52
$ 271,900
A
77
$ 360,968
M
36
$ 365,000
A
75
$ 453,082
M
54
$ 449,500
A
101
$ 570,068
M
26
$ 569,900
A
103
$ 666,439
M
50
$ 675,000
A
71
$ 753,220
M
35
$ 749,900
A
77
$ 861,322
M
50
$ 850,000
A
229
$ 972,667
M
327
$ 970,000
A
22
$ 1,099,999
M
22
$ 1,099,999
A
346
$ 1,162,500
M
346
$ 1,162,500
A
296
$ 1,295,000
Num
#
Pend
Ratio
Num
#
N/A
0
83%
2
4
13
39%
12
37
9
20%
21
31
8
27%
16
19
5
21%
11
6
2
10%
11
8
1
17%
8
3
1
10%
5
1
1
25%
1
1
0
1
0
1
0
1
0
(months of inventory)
Original
List
Price
Final
List
Price
[4]
Sold/
Closed
Price
ListSale
Ratio
Est.
Mos.
(...continued from cover)
These are really averages, as you have internet lenders/brokers
with low overhead to have generally lower interest rates (but
not alot of control on the ‘service’ or performance of the investor
who is going to close and fund your loan), Mortgage Bankers (like
whom I work for), who have their own money, fund your loan,
and either service/retain it, or sell to another investor or bank....
generally have higher overhead, slightly higher interest rates,
but have almost total control of the processing /underwriting /
funding of your loan, especially when these functions are found
at the branch level (which WVMB has).
0
0
ABSORPTION RATE
0
5
[3]
SOLD/CLOSED (last 6 months)
Days
on
Market
Num
#
1
M
OFF-MARKET (last 6 mos)
[1]
0
$100,000
Days
on
Market
Num
#
$0
ACTIVE
PENDING
A
38
$ 182,500
$ 178,750
$ 164,250
92%
M
40
$ 180,000
$ 180,000
$ 167,500
93%
A
91
$ 284,772
$ 276,032
$ 270,789
98%
M
87
$ 289,000
$ 279,000
$ 276,000
99%
A
86
$ 370,874
$ 352,948
$ 344,919
98%
M
72
$ 359,900
$ 349,900
$ 340,000
97%
97%
A
95
$ 472,258
$ 459,221
$ 447,274
M
71
$ 469,000
$ 449,000
$ 455,000 101%
A
105
$ 599,500
$ 570,917
$ 553,333
97%
M
96
$ 594,000
$ 574,000
$ 565,000
98%
A
101
$ 675,000
$ 655,938
$ 638,500
97%
M
104
$ 682,000
$ 654,000
$ 649,500
99%
A
86
$ 728,333
$ 731,667
$ 710,000
97%
M
103
$ 725,000
$ 725,000
$ 705,000
97%
A
207
$ 990,000
$ 849,900
$ 816,000
96%
M
207
$ 990,000
$ 849,900
$ 816,000
96%
A
137
$ 949,000
$ 949,000
$ 900,000
95%
M
137
$ 949,000
$ 949,000
$ 900,000
95%
A
$ 1,175,000
$ 1,175,000
$ 1,175,000 100%
M
$ 1,175,000
$ 1,175,000
$ 1,175,000 100%
MORE USEFUL REAL ESTATE INFO AT:
WWW.BEVINSGROUP.COM
Mortgage Banker, Broker or Retail Bank?
Bevins Group Real Estate
MARKET SUMMARY TABLE
Real Estate Trends Newsletter
1.5
3.2
7.2
6.9
19
13.5
10
54
18
Then you throw in actual Banks, where there is high overhead
(brick and mortar buildings, advertising and lead/loan generation),
generally lower interest rates (kind of between internet lenders
and Mortgage Bankers, as the loan officers are paid less because
the Bank is making their phones ring....and they individually are
busy), but are sometimes inundated with business, so your loan
processing and closings are longer, and some of the processes of
getting your loan done are at ‘fulfillment centers’ where ALL of
the processing is done, or ALL of the funding is done, or both of
those functions. Basically, your loan is originated at your favorite
Bank in CA, processed in Indiana, and funded/serviced in Florida.
When it comes to purchasing a home, having the right ‘service’
can be far more cost effiecient than having the lower rate and
terrible service....your rate lock can expire, you may not meet the
contingency period or closing date (which is basically being ‘out
of contract’), in which you may lose your Earnest Money Deposit
(hurts the wallet), and als o lose your ‘dream home’ (hurts your
heart).
I have a lot of flexibility when it comes to rates and costs, but
sometimes I need to tell the client, ‘Let’s get you into your house,
on or before the COE (close of escrow date), and when you are
done with moving in, re-doing the backyard, or just being there
for 12 months, which goes by very quickly, then look up an
internet lender and get a ‘no points, no cost’ refinance when you
can ‘afford’ the time it may take to close the loan (I have seen 45-
60 days, and a few 90 day closings
on the refinancing). You get the
lower rate, lower payment, and no
cost to you.
LOOKING AHEAD, the NAR
economist was upbeat: “Sales
activity is expected to steadily
pick up as more inventory reaches
the market, and from ongoing job
creation in the economy.” Some
of that added inventory could be from sellers coming off the
sidelines as home prices continue to recover. The Case-Shiller/
S&P 500 index of home prices in 20 key metros went up 0.8%
in February (seasonally-adjusted). This widely followed reading
shows prices up 12.9% in the past year.
DID YOU KNOW?... Overall private residential construction
spending in Q1 was up 16.7% over a year ago. Single-family
private construction spending in March was up 13.2% (seasonally
adjusted) versus last year. I was looking at these stats, and the
way they use the word ‘up’.....for a long time, private residential
construction didn’t even seem to ‘exist’.
I have a great source for construction loans, so I am glad this type
of activity is back! My source does the construction loan, and I
come in with the permanent financing after the home is built.
Contact me if you’re thinking about building a custom home in
Canyon Lake and I’ll share the details of this great construction
program.
I also wanted to invite you to send any commentary to my email
address: [email protected].
If there is a subject that you would like me to do some research on
and offer updated information (from the lending/mortgage side)
in any upcoming issue(s) of this periodical, please let me know!
Until next time,
-Dave
Home Sales April 1, 2014 - April 31 2014
12
$1,400,000
$1,399,999
+
Market Totals
Market Averages
2
3
296
$ 1,295,000
A
204
$ 1,387,475
M
204
$ 1,387,475
A
102
$ 1,983,000
M
107
$ 1,950,000
s in
143 143 home
“Act ive” stat us
92 $ 555,442
Market Medians
50
$ 455,000
1
0
2
25%
47
25%
91
47 hom
es
under
c o n t ra
ct
Date Range (Off-Market & Sold) = 11/03/2013 to 05/04/2014
Data believed to be accurate but not guaranteed.
0
0
80
$ 350,000
$ 339,000
$ 339,000 100%
Favors Sellers
Favors Buyers
Status = [1] Active, Hold Do Not Show; [2] Pending Sale, Backup Offer; [3] Expired, Canceled, Withdrawn; [4] Closed Sale
Area = Canyon Lake
Type = Single Family Residence, Condominium
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List Price
Sold Price
Date Closed
Days on Market
$ Per Square Foot
1985
$135000
$132000
4/3/2014
35
$104.10
Closed Sale
22559 Canyon Lake Dr. S
2
2
1408
1979
$220000
$170000
4/16/2014
71
$120.74
Closed Sale
22501 Inspiration Point
2
2
2272
1973
$274313
$245000
4/18/2014
41
$107.83
Closed Sale
23101 Compass
3
3
1570
1969
$279000
$262000
4/15/2014
156
$166.88
Closed Sale
29804 Longhorn
3
2
1840
1985
$286900
$262000
4/25/2014
104
$142.39
Closed Sale
30135 Little Harbor
2
2
1845
1996
$249900
$275000
4/3/2014
11
$149.05
Closed Sale
29936 Redwood
3
2
1680
1979
$284500
$275000
4/18/2014
39
$163.69
Closed Sale
29748 Redwood
3
2
1590
1990
$279000
$279000
4/23/2014
203
$175.47
Closed Sale
23633 Cruise Circle
3
2
1396
1986
$259000
$289000
4/10/2014
41
$207.02
Closed Sale
22907 Pheasant
3
3
1779
1995
$299000
$295000
4/28/2014
127
$165.82
Closed Sale
30021 Red Setter
3
3
1835
1983
$320000
$310000
4/30/2014
35
$168.94
Closed Sale
22962 Giant Fir
3
2
1863
1987
$315000
$313000
4/9/2014
145
$168.01
Closed Sale
30184 Gulf Stream
4
2
1829
1979
$310000
$317000
4/7/2014
24
$173.32
23878 Fair Weather
3
2
1949
1984
$359900
$350000
4/9/2014
92
$179.58
30083 Swan Point
3
2
1276
1975
$399000
$375000
4/22/2014
113
$293.89
22354 San Joaquin
4
2
2312
1972
$495000
$381000
4/24/2014
200
$164.79
30032 Clear Water
3
2
1525
1979
$409900
$395000
4/4/2014
178
$259.02
30351 Early Round
3
4
2936
1992
$447000
$429500
4/16/2014
220
$146.29
22134 Pecos
4
3
2589
1979
$439000
$435000
4/4/2014
42
$168.02
Closed Sale
$ 390,233 97%
Year Built
1268
Closed Sale
$ 400,330
Square Feet
2
Closed Sale
$ 414,708
Baths
3
Closed Sale
90
Beds
Closed Sale
7.7
111
Address
23996 Outrigger
Closed Sale
0
Status
Closed Sale
Closed Sale
$1,300,000
M
Average Days on Market have continued to climb a
little from 84 in March to 90 in April for sold homes
in Canyon Lake. Sold data is based on last 6
months activity. The number of homes in “Active”
status (including those on showing holds) jumped
dramatically from 119 in March to 143 in April.
30524 Wood Duck
5
5
4934
2004
$440000
$440000
4/2/2014
160
$89.18
Closed Sale
29288 Stampede
5
4
3346
1992
$446000
$455000
4/14/2014
70
$135.98
Closed Sale
30400 Harbor
3
3
2405
1984
$637500
$619000
4/18/2014
168
$257.38
Closed Sale
30408 Gulf Stream
4
4
3568
1999
$849900
$816000
4/22/2014
207
$228.70
Closed Sale
30422 Gulf Stream
4
6
4600
2007
$1175000
$1175000
4/9/2014
0
$255.43
Information compiled from various sources including Multiple Listing Service. All information is deemed accurate by not guaranteed. Agent makes now warranties about accuracy or completeness of data.
Download upda ted market reports, the latest listings, and get a free market evaluation for your home online at www.BevinsGroup.com