Point South Mexico - Real Estate and Lifestyle Magazine

We've heard from several people lately that they are hearing from real estate offices, forum discussions and a Baltimore-based travel concern that Lakeside is into a big selling boom. One woman was particularly anxious to act quickly--she had been told that the actual selling price had fallen and now was 10 to 20% less than the asking price. Some have heard that they better buy, now and quickly, while there are properties left, and before prices increase, again.

Evidently the news source and ad agency that promoted the California gold rush in the mid 1800's is still alive and well-and publishing pointers for folks looking for a "deal".

Here is the current straight real estate scoop, based on hard, cold numbers and facts-- we're telling this like it is:

· In each of the last 3-4 years, there have been between 650-765 properties listed for sale through the local multiple listing service.

· The number of sales has remained remarkably stable during this same period.
· 2000--196 homes sold
· 2001--208 homes sold
· 2002--177 homes sold
· 2003--(Report for 7 months) 128 homes sold-right on target to end with just over 200 sales.

· For most of the past 15 years, Lakeside realtors have known homes would sell for about 10% less than the asking price. During 2001, this rate increased to 12-15%, and in 2002, the average home sold for 20% under asking price.

· July 2003 marked the best month area realtors have seen in several years, with 32 properties sold during the month. This number alone is being bantied about, as evidence of a "new real estate boom". The fact is that June 2003 marked the lowest number of home sales for one month in many years-just two sold. It seems to me that the two balance each other out, and are neither cause for joyous celebrating, nor despondent grieving. Together they average a normal amount of sales, and fit into the rest of the year perfectly.