News
LAKE COUNTY – After months of declining home sales, the numbers have started to look up this spring.
Home sales increased in the county 13.3 percent in April compared with the same period a year ago, while the median price of a home decreased 8.7 percent according to information gathered from the Lake County Multiple Listing Service.
Home sales increased by eight extra sales to 68, up from last April’s 60. In addition, April's sales increased by three homes – or 4.4 percent – over March, which had 65 sales.
“The sluggish home sales activity is a reaction to an uptick in mortgage rates earlier this year along with tighter underwriting standards,” said Phil Smoley, owner/broker CPS Country Air Properties. “Moreover, recent news regarding foreclosures and the subprime situation had an adverse impact on the market psychology of many buyers, leading some to delay their home-purchase decisions.”
Closed escrow sales of existing homes in Lake County totaled 68 in April according to the Multiple Listing Service. Statewide, home resale activity decreased 20.8 percent from the home sales pace in March 2006, in which 539,170 sales took place.
The median price of home in Lake County during April was $289,975, an 8.7-percent decrease from the $317,500 median for April 2006, the Multiple Listing Service reported. The April 2007 median price decreased 4.9 percent compared with March’s $305,000 median price.
“Home sales have been gradually increasing over the last few months, ever since the asking prices have come closer to reflecting the reality of the current market,” said Smoley.
“Currently the difference between listing prices and sale prices is 10.8 percent,” Smoley continued. “Overall, listing prices have to come down much further in order to stimulate the market. Homes that are priced right are still selling while others that are overpriced will continue to sit on the market month after month.”
Lake County’s Unsold Inventory Index for homes in April was 18.4 months, compared with 17.8 months for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
Thirty-year fixed-mortgage interest rates averaged 6.875 percent during April, compared with 7.125 percent in April 2006, according to Del Whitehead of Cal Bay Mortgage. Adjustable-mortgage interest rates averaged 5.029 percent with a 3.4 percent margin in April 2007 compared with 4.011 percent with a 2.8 percent margin in April 2006.
The median number of days it took to sell a home was 166 days in April, compared with 146 days for the same period a year ago.
Highlights of Lake County’s housing figures for April 2007:
(Information listed from left to right includes area, number of listings, median price, average number of days on the market, number of sales, median sold price and the days on market.)
Buckingham – 17; $667,500; 92; 2; $537,000; 166.
Clear Lake Riviera – 88; $317,947; 121; 5; $274,000; 271.
Cobb – 53; $339,000; 83; 4; $302,000; 142.
Hidden Valley – 195; $389,000; 116; 9; $335,000; 190.
Jago Bay – 2; $447,000; 92; 1; $233,000; 100.
Kelseyville – 32; $369,500; 99; 1; $349,000; 264.
Lakeport North – 88; $451,500; 129; 11; $289,900; 129.
Lakeport South – 27; $429,000; 111; 1; $350,000;176.
Middletown – 18; $549,750; 129; 1; $350,000; 21.
Riviera Heights – 26; $382,500; 120; 2; $500,500; 253.
Riviera West – 20; $434,250; 149; 1; $439,000; 184.
Soda Bay – 4; $462,450; 69; 0; 0; 0.
Ray Perry sells real estate in Lake County. Visit his Web site at http://RayPerry.com.
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- Written by: Lake County News Reports
There is a folder on this photographer's home computer desktop named BACKUP. Inside of that folder are a dozen folders named after various topics such as travel, action, Mendocino, school, etc. The one folder that gets opened the most lately is filed under PERSONAL and is titled: MOM PICS. In this MOM PICS folder are the results of a half hour shoot that took place in my studio two summers ago.
My mother was here visiting from Florida and we decided to have some fun in the studio. We matched outfits, fixed our hair and had a blast. We posed together, and we posed separately. My mom was such a sport. She wore boxing gloves, cowboy boots, sat in a movie star chair, and even decided to get out her favorite antique ring and show it off. Some of these photos are too serious, some are too silly and some are just right. We sat in front of a white background with two studio lights facing us at 45 degree angles.
We both looked at the camera, posed cheek to cheek, hugged and laughed. It is probably the only time we have actually sat still and focused on each other and us as mother and daughter.
My favorite image is of mom alone looking off camera with a soft side light. She had just declared, "I am the family matriarch." The look in her eye is one of pride and strength. As a widow who took care of my Dad through his battle with cancer, and now the single parent of three grown daughters she is the head and heart of our family. I will always be honored to pose in a photo with her.
On this Mother's Day or any day real soon, I urge you to either schedule a formal sitting with your mom at a local studio, or at least get out your own camera gear and choose a location that has a simple but complementary background.
You can borrow a family member who has decent photography skills and ask them to try to capture a portrait of you and your mom. Make sure you shoot solo photos of mom to study later and please, let her be herself. You might capture some digital movie of her as well.
If your mom is the shy type and says she doesn't want to be photographed, just remind her how beautiful she is and tell her what she means to you and how these photos are as much for you as they are for her. Then quick take the photo before she wells up with tears.
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- Written by: Suzette Cook-Mankins
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