Lake Arrowhead Real Estate Means Having Natural Beauty at Your Front Door

 

Lake Arrowhead real estate is one of the most desirable types of property in California; indeed, in the entire country. It is no exaggeration to say that owning a piece of Lake Arrowhead real estate is nothing less than having your very own dream home. If the idea of having a vacation or summer home next to a peaceful lake surrounded by a historic forest sounds good to you, read on to learn more about Lake Arrowhead real estate.

 

A home in Lake Arrowhead also comes with access to first-rate schools, a community that deeply values and treasures its surroundings, and first-class administrative services. The community of Lake Arrowhead puts on jazz festivals, rock and classical concerts, art shows, and various art-themed festivals and presentations throughout the year. If you're into stargazing, you can't do any better than the wide open and beautiful skies of Lake Arrowhead. The Mountain Skies Astronomical Society has put Lake Arrowhead on the map as one of the prime world locations for stargazing.

 

Truly, it does not get better than this. Clean air, clean water, a forest, a lake, and a community that has great pride in its local surroundings--what could be better than having all these things at once? Your backyard is the great American outdoors. Take advantage of all the beauty California has to offer, all in one place.

 

It is that sense of community and pride in your surroundings that makes owning a piece of Lake Arrowhead real estate such a smart decision. This country has many lakes and forests, but few as well protected and maintained as those in the Lake Arrowhead area. This sense of pride in the natural beauty of the area translates into the extreme care taken to preserve this natural refuge from the industrialized world.

 

In terms of Lake Arrowhead real estate, the investment required to own a piece of property on Lake Arrowhead can seem hefty at first. But the high price simply means that the area is so in demand that people will pay a little extra just for the privilege of a beautiful lakeshore view. Wouldn't you want to be a part of a community in which everyone treasures and loves their home and environment so much that they'd give up a cheaper alternative? Even those who do live in the most expensive homes benefit from being a part of a wealthy community, committed to using its resources to preserve the local surroundings.

The high end market here in Lake Arrowhead seems to be moving a little slower at the moment, when compared to last year. Looking back 90 days, there have been six sales in Arrowhead Woods and Lakefronts over $1,000,000 with the median sold price of $1,745,000. When comparing this to the same period last year, we saw ten sales over $1,000,000 with a median sold price of $1,130,000. If we look at the number sold under $1,000,000 this past 90 days this year, we find 66 homes sold. We currently have 396 homes for sale in Lake Arrowhead (Arrowhead Woods and Lakefront) under one million dollars and 93 available homes for sale over one million dollars.
Lakefront Estates
What this tells us is we have about 46.5 months of inventory over $1,000,000 and 18 months of inventory of homes under $1,000,000. Combine this inventory with amazingly low interest rates and we have a perfect time for buying a home in Lake Arrowhead. Especially a high end home.

So, come on up and check out some of out lakefront homes or a beautiful estate behind gates up a little higher overlooking the lake. Contact Glenn Tinturin today from this website.

Fixer-uppers with upside potential were in high demand when the market was appreciating at a fast pace. Once depreciation took over, speculators disappeared until 2009, when low-end foreclosure properties in some areas became hot properties -- particularly if they were selling at a 50 percent discount from the peak in summer 2006.

In California, 70 percent of the homes bought by investors in 2009 were distressed-sale properties, according to the CALIFORNIA ASSOCIATION OF REALTORS®. Some were stripped of appliances and fixtures. But, at half price, there was profit potential for buyers who were up for a redo -- especially seasoned investors buying multiple homes to fix up and resell, or rent out.

Fixers priced over $500,000 aren't as easy to sell today. Most buyers in higher price ranges are buying a home to live in. They want a home in move-in condition that will suit their long-term needs.

There are exceptions. In high-demand market niches with few listings, there is occasionally a fixer-upper that draws a lot of attention. Usually, these fixers sell to buyers who will live in the property and fix it up themselves to save money. Often this is the only way they can afford to move into the neighborhood.

Sellers of fixers in such neighborhoods should make their property as presentable as possible by cleaning out clutter, both inside and out. Many home buyers can't visualize a property's potential. It's often worth a modest investment to show the house at its best advantage.

Cosmetic improvements, such as painting, replacing outdated floor covering, or refinishing worn hardwood floors can pay off. Some fixers are staged, even though the property needs a lot of work, so that buyers can envision themselves living there.

Presale inspections will help buyers make a decision about whether or not to tackle the project. Make reports available to buyers before they make an offer to avoid having to put the home back on the market if the deal falls apart because the buyer's inspectors discover defects not previously disclosed.

HOUSE HUNTING TIP: How much you spend preparing a fixer for sale depends on several factors. How much did you pay for the property? How much do you owe against the property? Is there demand for fixer-uppers in your area? Finally, how much does your real estate agent think you can sell the home for given current market conditions?

Sellers who have equity in their home and cash to invest in fix-up for-sale work should consider making cost-effective renovations, like a kitchen upgrade, but not an entire renovation. Ask your agent what the home would sell for with and without these improvements before doing anything to it.

The investment may not yield a profit, but could recover the costs when the home sells. In areas where fixers aren't selling, sellers might need to enhance the property to sell at all. A good real estate agent should be able to provide references for reliable, reasonably priced professionals who can do the jobs for sellers who haven't the time or expertise to do the work themselves.

Buyers who bought at the peak may not be able sell for even close to what they paid. One possibility would be to rent the property, if it makes sense financially. You may need to fix up the property somewhat to attract a good tenant. Consult with a certified public accountant about the tax consequences of converting a single-family residence to a rental.

Another option, if you don't have to sell now, is to stay put for awhile and fix the property up gradually over time. Avoid investing a large amount of money in the hopes of getting a bigger return.

THE CLOSING: The housing market in your area may be too uncertain for speculation.

Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author.

Smart Buyers avoid the most common mistakes made by normal buyers.

1) Unknowingly participating in a mortgage loan that may not be in your best interest.
A professional mortgage officer knows in excess of 50 ways to finance your mortgage. Everyone’s personal situation is a little different. As an example, your mortgage can be designed to reduce your payoff term and increase your equity with virtually the same monthly payment. Why wouldn’t you choose this type of alternative, because, you simply did not know. A Smart Buyer is a person who wants to know! We believe that is YOU.

2) Waiting until after the contract to process their mortgage, or just obtaining a pre-qualification letter before submitting a contract.
Pre-approval benefits you more than you can imagine. By starting your loan process and obtaining loan pre-approval, not just pre-qualification, will place you be in a much better position to negotiate with a seller who knows you are financially prepared.

Additionally, you can solve any obstacle, no matter how small, without delaying the closing as many buyers do by processing their loan after placing a contract on a home.

3) Not having a thorough market analysis prepared for the home that you choose.
With Realtor’s computer capabilities, agents have complete information, and you should have all the facts as well. Knowing details regarding comparable sales and active competition will increase your knowledge when you are negotiating the price and terms of your home. (Some buyers do pay top dollar for their home, but it shouldn’t be without knowing where they stand.)

4) Not having complete cost estimates based on the specific home contracted for, not just an estimate done at loan application.
Each home has specific costs associated with it, such as taxes and insurance. These can vary dramatically in different areas.

5) Settling for weak negotiating. This can cost you a few hundred or thousands of dollars.
Many buyers and agents settle for that “let’s just get a deal done” scenario. Think about it sincerely; would you rather just make a deal, or do you want your representative to do the very best possible negotiating on your behalf?

6) Not being selective - trying to see everything in and out of their price range, (or being too selective.)
Seeing homes in the proper price range and areas gives you a better feel for the market, and educates you while you look. Your area has a variety of neighborhoods and property types. Make sure that you see what you need to be comfortable with your decision. These statements are not contradictory; you should see all that fits you without wasting time on homes that won’t.

7) Not previewing schools, shopping, and other neighborhood amenities.
Take the time to know the convenience of your area, and whether the schools, shopping and amenities will help you attract the next buyer.

8) Not requiring the proper inspections.Buying Lake Arrowhead Homes
It is money well spent, and paying attention to the results will let you know the condition of the home that you plan to make yours. In addition, making sure that a home warranty is in place can save you unexpected expenses.

If you have any questions on the above information or would like to begin the pre-approval process, please call Glenn today.