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Magalia, CA Real Estate News

By Lynn Franklin
(Coldwell Banker Ponderosa)
The Magalia real estate market has been moving at a slow pace.  Last week there were 2 properties that went under agreement and only 1 listing that closed escrow.  The Magalia sellers however are hoping to pick up the pace as 22 sellers lowered the price on the real estate properties they have on the real estate market.  That represents about 18% of the single family homes for sale.  So with low interest rates and Magali sellers ready to negotiate, it is time for Magalia area buyers to start looking!
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By Lynn Franklin
(Coldwell Banker Ponderosa)
The weather has been great and the real estate market in the area seems to be picking up. So I really wanted to sit down today and write an update for the Magalia market with a flashy headline like, “The Spring Real Estate Market Has Officially Started in Magalia.” Unfortunately, my update on the Magalia real estate market will have to go in a slightly different direction. Although the interest rates are still fantastic at an average of 5.88% for a 30 year fixed rate mortgage and there is plentiful available inventory experiencing record numbers of price reductions week after week (10 occurred last week), there doesn’t seem to be too many Magalia properties going under agreement or closing escrow. This past week only 3 properties went under agreement and no properties actually closed es...
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By Lynn Franklin
(Coldwell Banker Ponderosa)
If slow and steady wins the race, then the Magalia real estate market will be ok. We have just come off another week of slower activity but it is very consistent with the activity level we have seen in weeks past.  There were 15 new listings that hit the Magalia real estate market with another 12 listings experience price reductions.  During this same time period there were 3 properties that went under agreement and another 2 properties that closed escrow.  Consequently the available Magalia real estate inventory continues to build!  So buyers, go ahead and take advantage of the 5.88% average on the 30 year fixed rate mortgages and take the plunge into Magalia homeownership today.   Currently there are 245 real estate listings in Magalia with 132 of them being single family homes, 64 of...
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By Lynn Franklin
(Coldwell Banker Ponderosa)
Spring arrived in the month of March and so did some low 30 year fixed rate mortgages in the Magalia area.  Currently at 5.88% with March just recently behind us.  Some other Magalia real estate market statistics for the month of March are as follows: Magalia - March 2008 Site Built HomesManufactured Homes on LandVacantLandTotalNew Listings 1911636Sold55111Under Contract65011Price Reduced208937Expired or Withdrawn1451130   Total Listings Vs. Activity - Magalia Total Active ListingsUnder Contract ListingsPercent Under ContractSite Built Homes 1271310%Manufactured Homes621321%Vacant Land4900%
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By Lynn Franklin
(Coldwell Banker Ponderosa)
It was a slow week for the Magalia real estate market with no properties closing escrow and only 4 properties going under agreement.  A couple of key things happened though that may interest Magalia area buyers.  There were a number of price reductions (13 of them!!) and the interest rates dropped to 5.85% for an average 30 year fixed rate.   This spring market is shaping up to be a buyer's delight with interest rates and price reductions being ideal.  Areas receiving the most interest in this Magalia market are those single family properties priced below $250,000, as well as the manufactured homes. 
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By Lynn Franklin
(Coldwell Banker Ponderosa)
Slowly but surely, things are starting to pick up in the Magalia real estate market.  Over the last few weeks, we have seen a very gradual increase in activity from week to week.  This past week was no different, with 5 Magalia properties going under agreement and another 6 Magalia properties closing escrow.  There were only 11 new properties that hit the market in Magalia which is a sign that the pace of inventory growth may be slowing.  There was also a decrease in the number of price reductions this past week in the Magalia real estate market with only 8 existing listings altering their price.  For the third week in a row, the category of real estate that continues to receive the most activity in Magalia are those single family properties priced between $350,000 and $450,000 with 20%...
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By Lynn Franklin
(Coldwell Banker Ponderosa)
I took a look at the 10 day forecast for Magalia and after a bit of rain and cooler temperatures, the sun is expected to shine with warmer temperatures in the mid to high 60's.  Let's hope the same is true for the Magalia real estate market.  Unfortunately, up to this point, the Magalia market hasn't picked up the steam would have hoped for.  This past week we had 4 properties close escrow and 2 properties go under agreement.  We saw another 14 properties enter the market with 12 Magalia properties experiencing price reductions.  Single family homes priced between $350,000 and $450,000 again experienced the most activity this past week, with 22% of the properties currently pending.   As a note for buyers, interest rates for a 30 year fixed rate mortgage fell back down this past week to ...
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By A.W. Farra
(C21 Select R.E., Inc.)
As you drive into Paradise from Chico or Oroville, you can't miss the Buttes.  They are so dramatic and provide canyons and ridges where the tall Pines grow in abundance.  Just above Paradise, is Magalia - we have lots of Pines, beautiful homes at reasonable prices, and social activities at our own Paradise Pines POA Village.  If you like to fish, golf, play tennis, or enjoy card games, you will fit right into this community.  Many of our residents are retired from Silicon Valley.  The families with children have lots of activities, too.  So if you are younger or a senior, we welcome you. Come see all we have to offer and you just might decide to buy a home here.  That's where I can help you.  As a successful Realtor with clients all over Paradise and Magalia, I have the information you...
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By Lynn Franklin
(Coldwell Banker Ponderosa)
Spring has definitely set in.  The sun is shining a little brighter this week and we are seeing a slight pick up in the Magalia real estate market.  In my opinion that is cause for a smile!!This past week we had 4 properties close escrow and another 4 properties go under agreement.  We also saw 17 properties experience price reductions signaling that Magalia area sellers are still trying to get the attention of Magalia buyers.  There was a slight change in the areas of activity this past week, with singe family homes between $350,000 and $400,000 seeing 20% of their listings now under agreement.   The manufactured homes still remain the strongest in this Magalia real estate market.  Interest rates went up just a bit to 6.24% for a 30 year fixed rate mortgage.   
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By Lynn Franklin
(Coldwell Banker Ponderosa)
It feels as though more Magalia prospective buyers are out looking at properties and that the market may finally being waking up from its long winter slumber.  Unfortunately, this activity does not seem to be reflected in the area statistics.  The Magalia real estate market had another very slow week with only 1 property closing escrow and 3 properties going under agreement.  Available inventory increased again this past week as 13 new listings hit the market and another 10 listings underwent price reductions.  The majority of activity being seen in the Magalia market still remains within two categories; those single family homes being priced under $250,000 and manufactured homes.  At the end of last week there were 235 real estate listings on the market in Magalia with 126 of them bei...
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By Suzi Enders, Paradise California Realtor
(North Star Real Estate)
Standing at a long conveyor belt doing the cold, wet work of sorting thru 1 year old sierra redwood seedings were volunteers from the Magalia Beautification Association.  Although the volunteers were covered with mud from "head to toe", the volunteers had a good time sorting out the fittest trees and bundled in groups of 25 for future planting.  "it makes you feel good knowing that these trees will wind up hopefully on a hill somewhere and live long after we're gone." Magalia Reforestation Center's 15-acre nursery yielded some 1.7 million saplings in the past year, including fir, pine, cedar, cypress, sycamore and oak.  These seedlings will eventually wind up throughout the forest lands of California," used for reforestation, erosion control, for wind breaks.  The healthy little redwood...
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By Lynn Franklin
(Coldwell Banker Ponderosa)
Last week was another light week in the Magalia real estate market.  There were 9 new listings that hit the market, 4 listings that went under agreement, and only 1 listing that closed escrow.   There are currently 229 total real estate listings in Magalia with only 13% of those listings being under agreement.  This leaves about 200 property listings of inventory available in Magalia.   The largest segment of the market is currently made up single family homes under $250,000, manufactured homes, and land.  The majority of properties that are moving under agreement and closing escrow continue to be those homes under $250,000, as well as the manufactured homes.  With interest rates still being very low at 5.72 for a 30 year fixed rate mortgage, the monthly payments on many of these proper...
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By Lynn Franklin
(Coldwell Banker Ponderosa)
Although the Magalia real estate market did have 12 new listings and 11 price reductions last week, we are finally starting to see it come to life again.  There were 8 properties that went under agreement and 2 that closed escrow.  This was a significant increase in activity over previous weeks.  The majority of the activity took place on homes under $250,000 as well as manufactured homes.  There is still very little activity on land and properties over $450,000.  The interest rates remained low, experiencing virtually no change, going from 5.68 to 5.67 for the 30 year fixed rate.
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By Lynn Franklin
(Coldwell Banker Ponderosa)
It was a very slow real estate week in Magalia.  The most activity we saw was a number of properties leaving the market due to their listing expiration.  There was a total of 5 new listings, 1 listing that went under contract, and 2 listings that were sold.  Another 3 listings experienced price reductions.  Despite the low activity levels, mortgage rates continue to remain at near record lows with for sale inventory staying high.  Therefore the opportunities for Magalia area buyers are still fantastic and prevalent.  If you have questions about how to enter the mortgage market or Magalia homeownership, please just give me a call.
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By Suzi Enders, Paradise California Realtor
(North Star Real Estate)
Meandering thru the tall ponderosa pines of the POA village in Magalia, California is "Paradise Pines".  The original community once thought of a retirement community has proven itself to be a lure to many families with children.  Visit the Paradise Pines POA site for information regarding the local history of the POA.                     The heartbeat of this community is the POA Village.  The facility hosts many POA activities including the volenteer firefighters annual crabfeed and friday night happy hour.  Besides having a pool, tennis courts and a playground for the kids.  Schedules are posted of the many classes which are available at the village.   In addition a greenbelt trails map is available online or at the POA village.  Treat yourself to an exciting walk.    The Paradise Pi...
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By Suzi Enders, Paradise California Realtor
(North Star Real Estate)
Why living on Coutolenc is so awesome.  From the skyway in Paradise to the first red light before the Magalia Dam is Coutolenc road which meanders thru heavily wooded areas and along side of the Feather River Canyon.                    This scenic drive up Coutolenc offers some canyon vistas unbelieveable views of across the canyon and includes waterfalls which of course increase as our last snowfall melts.   The shades greens on the many variety of trees which call the Fether River Canyon home include ponderosa pines, cedars, oaks, valley oaks, madrone and of course manzanita and plenty of it.                  Come to visit Magalia California.  Home to the most beautiful scenic views.  
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By Lynn Franklin
(Coldwell Banker Ponderosa)
Wow!  Another drop in the 30 year fixed rate in Magalia. It has been lowered to 5.48 this past week from 5.69.   This is obviously great news for buyers; especially first time buyers who do not have a Magalia property to sell before buying a new one.   Unfortunately, the amount of closings in Magalia is not quite as exciting.  There were only 2 homes that were sold last week in Magalia.  There were 11 new listings and 4 homes that went under agreement.  Price reductions continue to be prevalent week after week, with a total of 11 price reductions occurring last week.  The percentage of real estate properties under contract compared to total listings in is slowly starting to get better.  We are now seeing that 10% of all listings in Magalia are now under contract, compared to 9% or lower...
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By Lynn Franklin
(Coldwell Banker Ponderosa)
There was a great deal of excitement in Magalia this past week as the 30 year fixed mortgage rates again took a drop.  They are currently 5.69 for 30 year mortgages, with the 15-year fixed rates being even more desirable.  The Magalia area mortgage rates haven't been this low for about 2 years, which brings some obvious excitement to this slower paced Magalia Real Estate market.  Magalia had 17 price reductions over the past week; this was likely in part a result of sellers trying to get their homes noticed in the midst of all the mortgage rate decreases.  The Magalia manufactured home inventory and those homes under $250,000 are still moving quicker than all other types of properties in Magalia with approximately 17% of the inventory going under agreement this past week.  Magalia homes...
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By Suzi Enders, Paradise California Realtor
(North Star Real Estate)
 With the morning light came a scurry of snowflakes falling with intensity down in to the county of Butte.  The photos I provide to you are of the upper ridge in Magalia above Paradise Lake.  Beautiful as they maybe cause  concern for drivers as the roads are slick and icy.      The snowfall is wet, which means for residents that the roads are dangerous.  If you don't need to drive on days like this stay home and give the police, VIPS and other officials in the town of Paradise and Magalia a break.  Listen to the Butte county public scanner at www.thenet411.net to get up to date weather forecasts.  You can even listen live or sign up to receive email updates like me.  It's no wonder Magalia is gorgeous it gets enough snowfall and or rain to keep those ponderrosa pines going strong.   En...
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By Lynn Franklin
(Coldwell Banker Ponderosa)
There was some great news this past week for the Magalia Real Estate Market. The long term 30 year fixed interest rate fell below 6%. The current rate is 5.87%. This is coupled with the 224 Magalia real estate listings currently available. There were 7 new listings that hit the market in Magalia last week, adding to the large inventory level available for Magalia buyers. Great rates with a lot of inventory; now is the perfect time for prospective Magalia home buyers to test out their negotiating power. Also in the Magalia market this week, there were 4 listings that went under contract and another 1 that officially closed. For a full market report or to discuss the market in detail, you can reach me anytime
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