crescent city ca market report: Video - Housing Outlook for 2011 - 12/24/10 01:09 PM
I know from reading blogs from agents in other markets that not all real estate markets are experiencing the same issues right now.  My market, Del Norte County, is a textbook example of what Cliff Rossi is discussing in this video, large inventory, declining prices, large foreclosure and short sale inventory, long days on market for upper end inventory, etc.  I agree with his assessment of what we can expect in 2011 for sales in Del Norte County and yes, it is definitely a buyers market.
 
(2 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report - November 2010 - 12/03/10 07:22 PM
Crescent City/Del Norte County Real Estate Market Report - November 2010 is Slooooooowwww.
I'm really looking forwward to the day when I can say something encouraging for owner/seller's about our real estate market.  It's still a buyers market with low interest rates, declining home prices and motivated seller's.  It won't improve much for sellers until prices stabilize.
There were eight sales in our tiny market for the month of November.  The median price, $120,000 with a long DOM (day on market) of 140 days.  Four of the eight homes that sold were foreclosures, in fact the highest priced home to sell for the month … (4 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report - October 2010 - 11/01/10 11:19 PM
Crescent City/Del Norte County real estate market report for October, 2010...no surprises.
There were 13 homes sold for the month of October 2010 with a median price of $84,000.  The median price for the same time period 2009 was $160,000, which means prices have declined 52% since this time last year, ouch.  I doubt this comes as a surprise to anyone who has been faithfully reading my market reports and keeping up with the news. 
There are 277 active residential listings, down a bit from last month. I expect the decline in listings to continue the normal seasonal descent until February.  The Del … (0 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report - September 2010 - 10/17/10 10:40 PM

The Crescent City/Del Norte County real estate market report for September is a reflection of the economy and nothing more.  I'd like to remind all my clients that I do not have control over the economy but if I did, I would take a more hands-off approach than our government has and let nature take it course AND QUIT BAILING OUT BANKS.  I think it's been firmly established that tact is not working and that banks are not passing on TARP money to their consumer's.  Anyone who's tried to do a loan modification knows that is a true statement and … (4 comments)

crescent city ca market report: Current State of the Real Estate Market in Crescent City/Del Norte County - 9/15/10 - 09/15/10 06:39 PM
I usually do a market report each month.  I really don't feel like doing one for August.  July had six sales, six!  August had 19 and wow, 2 of those homes sold for over $300,000 so if I do a market report, everyone will get all excited and say, "See, things are getting better."  Well, so far this month--September--4 homes have sold and the highest priced home was $92,000 and we're halfway through the month. 
EVERYDAY I get a phone call from a friend or client who can no longer afford their home and either has to do a short sale … (0 comments)

crescent city ca market report: Encouraging News for Crescent City/Del Norte County Home Sellers - 08/04/10 01:31 AM
Encouraging news for Crescent City/Del Norte County home sellers -
I figured my readers could use some encouraging news after my July market report, so here it is, sales for the first week of August have already surpassed July's sales!  Yippee.
There have been four closings so far in August and I have two this week which puts us over the five residential closings for July, thank goodness. 
More encouraging news:
There are 9 contingency sales There are 16 pending sales Many of these sales are scheduled to close this month which should make my August market report a positive experience...at least more … (2 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report - July 2010 - 08/02/10 02:36 AM
Crescent City/Del Norte County real estate market report for July, 2010...Ouch!
The market report for July is fairly depressing with only 5 sales all month. 
The highest priced sale was $237,000 for a home on 1.53 acres, three REO's (foreclosures) sold and a mobile in a park for $8000. 
I checked my search 3 times to make sure I was not in error.  5 sales is abysmal for winter months sales, but in July!!!!  Ouch.
Here are the market stats for July:
Median price sold - $105,000 Average price sold - $121,600 Average days on market - 159 Another trend that is hard to … (3 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report - June 2010 - 07/07/10 01:51 AM
Crescent City/Del Norte County Market Report for June 2010 - Encouragement for sellers
I'm going to write an encouraging market report for a change.  Don't get overly excited, however...
The median price was still low at $145,000 for residential listings sold in Del Norte County for June, however, there were 19 sales, the most in one month so far this year and two sales over $300,000, one for $435,000 and the other for $356,000 (an REO).  The home that sold for $435,000 has an ocean view and sold for $115 a square foot, down from the high of a few years ago … (1 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report - May 2010 - 06/16/10 11:23 PM
Crescent City/Del Norte County Real Estate Market Report - May 2010
Number of residential sales improved over April 2010 and May 2009 sales, however the median price has dropped 21% from the May 2009 median of $180,000. 
The effect of foreclosures, declining prices, can not be denied. REO (foreclosure) sales comprised 56% of May 2010 sales and 37% of sales so far for 2010.
Upper end sales continue to remain stagnant with only two homes closing in May over $300k and one of those sales was an REO.  So far in 2010 homes $300,000 and over were 11% of total residential sales.
What does … (3 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report - March 2010 - 04/04/10 08:34 PM
Crescent City/Del Norte County real estate report for March 2010
March improved over February 2010 with 22% more sales.   The strong sector of the market continues to be in the lower price ranges with 57% of March sales under $150,000.  REO's were a huge segment of March sales at 43% (REO's are foreclosed properties listed for sale on the MLS).
Although the federal tax credit is disappearing at the end of this month, the State of California, deep in the middle of a budget crisis, has passed legislation for first time home buyers and purchasers of new construction to receive 5% … (2 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report - January 2010 - 02/11/10 12:04 AM
Crescent City/Del Norte County Real Estate Market Report for January 2010 -
January 2010 had 43% more sales than January 2009and only 2 of those 14 sales were REO's, which is encouraging. 4 of January's sales were mobile/manufactured homes in parks bringing in the median price sale for the month at $163,000. 
Listings are at a seasonal low of 223 with the median price of listings at $229,500 and average days on market at 223.
For listings $200,000 and under, the DOM for the 98 listings in that price range are 168 days or 14 months.  The average DOM for listings above … (0 comments)

crescent city ca market report: Crescent City/Del Norte County real estate market report - November 2009 - 12/06/09 11:10 PM
Crescent City/Del Norte County real estate market report for November - Looking good!
There were 18 residential sales closed in the Crescent City/Del Norte County for November according to the CC Board of REALTORs MLS, which is 45% better than November 2008.
The increase in REO sales, low interest rates and the first time home buyer tax credit has spurred on the flurry of buying that I anticipate to continue, however it is homes priced $200,000 and under that have been selling like hotcakes pretty much all year.  The reason, pent-up low to moderate income buyers that finally have homes priced … (3 comments)

crescent city ca market report: Crescent City/Del Norte County Market Report for October - 11/28/09 11:26 PM
Crescent City/Del Norte County Market Report for October -
November has been a very stressful month as far as keeping escrows moving forward goes and I have put most of my time and attention into making sure the homes I have in escrow make it to closing; my clients deserve no less, however, that meant my market report and blogging in general was put on the back burner. 
I am feeling a little less stress and will spend the next few days getting caught up on various things including my market reports. 
October was an exciting month with 43% more closings … (0 comments)

crescent city ca market report: Crescent City/Del Norte County Real Estate Market Report for September 2009 - 10/07/09 11:45 AM
Crescent City/Del Norte County Real Estate Market Report for September 2009 - Number of sales were down.
Sales were down for September, however I expect a sizable increase in number of sales closing in October (keep reading for the reasons for this optimism). 
The median price home that sold in September was $145,000.  This supports my statement I have made 100 times or more over the past few weeks that, "What is selling is $200,000 and under." 
Why?  This segment of the market was shut-out for years because of skyrocketing housing prices and now, these home buyers are taking advantage of falling prices, … (0 comments)

crescent city ca market report: Crescent City/Del Norte County Market Report for August 2009 - Down from July - 09/06/09 11:27 PM
Crescent City/Del Norte County Market Report for August 2009 - Sales are down from July, but still looking good.
Active listings are up to 278 and 19 residential listings sold in August, giving us an *absorption rate of approximately 15 months, which is not bad when you consider we have had months in the last 12 month period with an absorption rate of over 3 years!
The federal tax incentive, low prices and REO's are spurring on first time home buyers and investors with cash for the summer's end flurry of buying our market is currently experiencing. As every year, now is … (0 comments)

crescent city ca market report: Crescent City/Del Norte County Market Report for July 2009 - Gettin' Better Everyday - 08/13/09 02:21 AM
Crescent City/Del Norte County Real Estate Market Report for July 2009 - Gettin' Better Everyday!
July's sales increased over June's encouraging figures with 26 escrows closing in Del Norte County.  21 of these were residential listings (33% of those sales were REO/short sales), the other 5 sales were vacant land.
A whopping 57% of sales in July were $199,000 and under with the median price increasing in July to $193,500. This figure was greatly enhanced by the only sale so far this year over $599,000, an ocean view home that sold for $750,000.
There are currently 278 active residential listings with an … (3 comments)

crescent city ca market report: Crescent City/Del Norte County Market Report for June 2009 - Yippee! - 07/14/09 12:57 AM
 Crescent City/Del Norte County June Market Report - Finally some great news!
Yes, I am happy to write the June market report.  Sales increased 41% over May's figures.  We can thank the low interest rates in April along with the $10,000 California Tax Credit for purchasers of new homes (this tax credit is no longer available) and the $8000 Federal Tax Credit for First Time Home Buyers, which is still available until November, for this marked increase.
The segment of the market that is selling like hotcakes is $200,000 and under with 66% of June's sales and 62% of sales overall for 2009.
The … (0 comments)

crescent city ca market report: Crescent City Real Estate Market Report for May 2009 - 06/05/09 04:45 PM
Crescent City/Del Norte County Real Estate Market Report - Improving.
The Crescent City real estate market continues to improve as far as amount of sales, but prices continue to decline.  Prices are down 29% over May sales last year. 
I think we can thank declining prices, lower interest rates and tax incentives for maintaining sales. 
54% of May residential sales were under $200,000 (62% of all 2009 residential sales were under $200,000), with 15% of total May sales being REO/Short Sale listings, although REO/Short sale listings only comprise 6% of active listings (REO listings are continually receiving multiple offers). 
The absorption rate, … (0 comments)

crescent city ca market report: Crescent City/Del Norte County Market Report for April 2009 - Good News? - 05/12/09 12:09 AM
The Crescent City/Del Norte County Real Estate Market Report for April 2009 - Improving.
I was really upbeat when I sat down to write this report, however when I pulled up the number of sold residential listings for April of 2008, I realized sales have definitely dropped off and we have a way to go before the market reaches that level again (April 2009 is 42% lower than April 2008).
My spirits were lifted for the upper end home buyers, though. Although homes in the upper end price range (I'm calling that $300,000 and up at this point) aren't flying off the MLS, … (1 comments)

crescent city ca market report: Good News About the Real Estate Market in Del Norte County - 04/05/09 09:11 PM

Good news for the Del Norte County real estate Market!
My observations would show the market is picking-up in Del Norte County and statistics prove this out. 
Homes priced over $400,000 have comprised only 10% of residential sales so far this year (1 sale) and only 5% for all of 2008 (9 sold). In other words, this segment of the market has been stalled.
As of this writing, 19% of residential listings that are in contingency or pending status are priced above $400,000.
What does that mean for buyers and sellers in my market?  
In my opinion, confidence is coming back to the market … (2 comments)

 
Fran Gatti, Realtor, CDPE, RDCPro - Crescent City CA Real Esta (RE/MAX Coastal Redwoods) Ambassador large

Fran Gatti

Realtor, CDPE, RDCPro - Crescent City CA Real Esta

Crescent City, CA

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RE/MAX Coastal Redwoods

Address: 1072 9th Street, Crescent City, CA, 95531

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