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Beaumont, California Active, Pending & Sold Listings – As Of Feb. 8th, 2017

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Beaumont and real estate markets as a whole have had a slow start to the year. This is not unlike other years though. Most people inaccurately assume real estate and home sales are slow in the November and December months. But historically sales and activity are slower in the months of January and February, then pick up in March and April.

Active, Pending & Sold Listings – As Of Feb. 8th, 2017

So far there are 145 active homes and listings for sale in Beaumont, California. 105 Listings are active and under contract (backup) or pending and 52 homes have sold since January 1st, 2017. Here’s a quick graph of Beaumont’s closed transactions by volume. Notice how all the major dips are mostly in February or January.

Beaumont, California

Now is a great time to list your Beaumont home or buy while the competition is low. Give us a call to get started with your Beaumont home today! We are Beaumont, California REALTORS®!

-Garrigus Real Estate

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Redlands CA Housing Market Report – December 2016

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Here’s a report of the Redlands housing market for the month of December 2016, according to the MLS. This report states the total number of standard sales, short sales, foreclosures and other sales in Redlands, California. The chart also lists the Redlands pending sales, closed sales, and active listings.

The main point that jumps out of these numbers is the lack of available inventory. Even when you examine the active listings compared to the pending and backup listings, the numbers are low. Another glaring detail is the low number of distressed sales like foreclosures or short sales. That is actually a good indicator that Redlands has moved even further away from the housing market crash.

But the market does need to return to a more even balance of inventory. 2017 is expected to see more sellers list their homes and buyers attempting to purchase before interest rates get out of hand. If sellers don’t come out into the market expect prices to climb beyond affordable territory.

If you have any questions or you are considering buying or selling a home give us a call. We are local Realtors and have the experience to guide you through a successful real estate sale.

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Redlands CA Housing Market Report - December 2016

TYPE OF LISTING/SALENUMBER REPORTED on MLS
Active Redlands Standard Sales20
Active Redlands Short Sales1
Active Redlands Foreclosure, REO & Bank-Owned Sales0
Active Redlands Probate, Auction & Other Sales0
Backup Redlands Standard Sales22
Backup Redlands Short Sales0
Backup Redlands Foreclosure, REO & Bank-Owned Sales1
Backup Redlands Probate, Auction & Other Sales2
Pending Redlands Standard Sales22
Pending Redlands Short Sales1
Pending Redlands Foreclosure, REO & Bank-Owned Sales1
Pending Redlands Probate, Auction & Other Sales0
Sold Redlands Standard Sales61
Sold Redlands Short Sales1
Sold Redlands Foreclosure, REO & Bank-Owned Sales2
Sold Redlands Probate, Auction & Other Sales0

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Is Now (Beginning of 2017) a Good Time to Buy Or Sell a Home?

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2017 is here. Hopefully, the new year will be more optimistic than 2016 was. As for real estate and the housing market, people in the industry, home buyers and sellers, and economic experts will all weigh in on what real estate will do.

And this article here will do the same. But we brought some proof along to prove our forecast. Below is a couple of graphs of Active Listings, Pending Sales, and Closed Sales in Southern California’s largest MLS, the CRMLS.

Active Home Listings Compared to Pending & Closed Sales in Southern California’s MLS

  • As Of January 2, 2017

The first graph below documents all Active Listings in the MLS from January 2015 through January 2, 2017. The first thing that pops out when examining the graph is the difference of listings and the seasonal rise and drop over the past two years. January 2015 saw approximately 55,000 active listings MLS-wide. The active listing count rose from the beginning of that year to around 63,000 or so, then drops below 49,000 before the start of 2016. The active listing count then follows the same pattern of climbing until the middle of the year. But as the inventory sold off at the end of 2016 the active listing levels fell well below the previous year’s low of below 49,000 all the way to 40,000. More time and data is needed to know how far the listing count could fall, but what the graphic highlights is the lack of inventory buyers have to choose from right now.

ACTIVE LISTINGS – AS OF 1/2/2017

The next graph follows the same pattern but documents the fluctuations of Pending Sales instead of active listings. Comparing the graphs the two could almost be layered and follow the each other.

PENDING SALES – AS OF 1/2/2017

The last graph shows the Closed Sales throughout the MLS. The pattern on that graph again follows the same pattern starting low in early 2015 and rising through the middle of the year, dropping at the end of the year and rising again until mid-2016 and dropping once again. Many will point out that these three graphs only highlight the seasonal ebb and flow of each year’s listings and sales. But as you compare the end of the Close Sales graph to the Active Listings and Pending Sales graphs, you may notice that Closed Sales didn’t fall as much as active and pending listings.

CLOSED SALES – AS OF 1/2/2017

So what does this mean? We feel there is a void of available homes for buyers to purchase. Many are scrambling to buy before interest rates get out of hand. We believe sellers that list now will have an advantage over sellers that choose to wait through or past 2017 to list their homes for sale. We believe 2017 will be a hot year in real estate sales and buyers and sellers that realize this and don’t screw around will benefit from getting off the fence.

Bottom line: If you are considering selling, NOW is our advice for when to list. If you’re buying, again NOW is our answer to beat possible rising interest rates.

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Redlands, California Pending & Sold Homes & Real Estate in 2016

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2016 is coming to an end. Today is Thanksgiving (Happy Turkey Day! Gobble till you Wobble!). We are mere days away from the last month of the year and the hustle and bustle of holiday shopping and parties. Real estate, at least here in Southern California, keeps moving along mostly the same but with a little less fervor.

In Redlands and most of the Inland areas, short sales and foreclosures have taken a back seat to standard sales since 2012, but they still exist and have their place. We are also short sale experts and have helped many avoid foreclosure with our short sale negotiations. If you are wondering if a short sale is right for you please take a look at our Short Sale Formula Here.

If you are searching for Redlands pending or closed sales, or in need of a Redlands REALTOR, this page can give you an idea of the homes being sold and their price ranges. The up-to-date sold Redlands homes posted can also give you insight to what is happening in the Redlands real estate market for 2016 and where its headed for 2017.

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Redlands Pending Homes

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Redlands Sold Homes

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Zestimate® or Guesstimate – Is Zillow’s Zestimate® Accurate?

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Expensive Homes in Beaumont and Banning CAI could argue for days about the accuracy of Zillow’s Zestimate®. And now that Zillow is buying Trulia for $3.5 billion dollars (Did they use the Zestimate® for this bloated price too?), I’m sure the Zestimate® conversation is going to heat up more than ever.

I am a real estate agent and pricing homes and real estate is at the core of what my partner and I do! Without proper pricing a gold-laden mansion could sit on the market for years, or a boarded up shack could sell in hours. PRICING A HOME IS EVERYTHING!

So yes, I do take it personally when Zillow values a home (automatically with a computer program, mind you) too low or too high and sellers or buyers believe that that automated valuation is more accurate than I am! But, I’m not writing this to defend myself. I’m writing this to give you the reader, cold hard facts!

Let’s play a game called Zestimate® or Guesstimate. The rules are simple, we will pull a recent sale of  a home, give you Zillow’s current Zestimate®, then reveal the actual selling price! If the percentage spread is good (meaning not too far from what the actual sales price is), I will give credit to Zillow for a successful valuation, if not, I will condemn the website for its inaccuracy. That doesn’t sound too harsh, right? 🙂 So let’s get started:

First Property:

1770 Ash Court, in Beaumont CA:

Zestimate®: $181,000

Actual Sale Price on 7/28/14: $193,000!

That’s over a 6% difference! More accurately: 6.22%

Survey Says! GUESSTIMATE – No, no Zillow. Bad Zillow!

Sorry, but a $12,000 difference is a big deal for a home that sold under 200k!

By the way, the agent originally priced the property at $196,000. I think they were more accurate.

Second property:

38220 High Ridge Road, in Beaumont CA:

Zestimate®: $269,000

Actual Sale Price on 7/29/14: $295,000

That’s almost a nine percent difference! Or more accurately 8.81%!

Survey Says! GUESSTIMATE – Nope, I’m sorry Zillow. You are inncorrect!

Nine percent is A BIG SPREAD. Too big.

Third Property:

This time let’s move to a different city, like Yucaipa, California.

13561 Canyon View Drive, in Yucaipa CA:

Zestimate®: $383,000

Actual Sale Price on 7/28/14: $402,500

Survey Says! ZESTIMATE® – Congratulations, Zillow! You’re right! Let’s move to the bonus round!

I have to be fair here. That’s only a 4.72% difference, but think about this: had the seller sold their property for the $383,000 Zestimate®, they would have lost $19,000! Oh, and the listing price did start at $383,000, but I’m sure a bidding war ensued with buyers that knew the true value of the property and drove that price up!

OK, one more property:

This one will be fun, and I will explain why below:

414 E. Stuart Ave in Redlands, California

Zestimate®: $175,000

Actual Sale Price on 7/28/14: $120,000!!!!

Survey Says! GUESSTIMATE!!! – Nooo, I’m sorry Zillow. That is incorrect, but thanks for playing! (I wish I could put that “Wa Wa Waaaaaa” game show sound effect here!)

Wow. Over a 31.4% difference?! Are you kidding me? $55,000 difference on a low 100k house? But here’s the reason why the house sold for 120k – The house is a completely dilapidated, run-down property. In fact, in the description the agent even says, and I quote “What you see is what you get!”

This one made me smile 🙂

But how did Zillow get it so wrong?

Simple.

How the hell is a computer program in Seattle, Washington (where Zillow is headquartered) supposed to know the condition of this house in Redlands, California? How is it supposed to know the condition of ANY house, ANYWHERE? Or a comparable house for that matter? It can’t. And until Zillow employs drones to peek into windows of houses across America, it won’t ever.

And I leave you with a quote from Zillow’s CEO Spencer Rascoff about the accuracy of Zillow’s Zestimate®:

Zillow’s Zestimate® has a 6.9 percent median error rate, and should be used as a starting point in determining a home’s value.

Well, I agree, Spencer Rascoff, the Zestimate® should be used as a STARTING POINT in determining a home’s value, but NOT as the ONLY determining factor, especially with a 7% median error rate. Do you think I believe that home sellers and buyers should avoid Zillow and the Zestimate®? No, of course I don’t! I believe the website can be used as a great tool in a real estate process, just as long as it’s not your only tool. But please remember when your professional real estate agent, REALTOR®, or real estate broker takes time and care to access your property, the comparables sales and other listings activity, conditions and local market trends, and comes to a valuation different from a computer calculation, it may be the computer program that is off, not your agent.

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Buying a home in Beaumont, California? Isn’t it best to use Realtors that KNOW Beaumont?

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 Home in Beaumont, CaliforniaIf you’re buying a home in Beaumont, California you will undoubtedly want to know what you’re getting into, to know what areas or neighborhoods work for what you are looking for, and what Beaumont neighborhoods don’t.

For example, did you know that some Beaumont neighborhoods have a bond called “Mello Roos” attached to the homes that can change what you pay for that Beaumont house or home or change your monthly payment? Mello Roos aren’t necessarily a bad thing, but they can affect your home purchase.

There are many factors, opportunities and pitfalls when looking for the right Beaumont, California home for you. This is why you should work with experienced Beaumont real estate agents that know the area and what it has to offer.

{HOMES FOR SALE IN BEAUMONT CA}

We are the Garrigus Real Estate Group, Todd and Devona Garrigus, and we have worked our entire real estate careers right here in the heart of Beaumont. We also live and work daily here. We can offer not only our real estate experience to your Beaumont home buying or selling needs but also our solid knowledge of The city of Beaumont and surrounding areas.

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Check out These Beaumont CA Homes For Sale:

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