I am always looking for the leaning and indication of buyer sentiment. Pending sales, especially homes that sell right away, are the best indication of what buyers find attractive. Buyers look at homes and comparison shop, and make offers based on the immediate available inventory. When a home sells right away, it set the marker down for all the similar homes that are in the inventory and for sellers who are thinking of listing their home for sale in the next 30 days. Nice to see that you can buy a home in Alta Sierra for under $300,000 that is not a fixer.
I have looked at lots of homes in Lake Wildwood under $300,0000. Here is a interesting question: how much would this home sell for if it has the exact same features and amenities and on a similar lot, but it was located in Lake Wildwood? I have seen a dozen similar homes this year in Wildwood, and a home built in 1975 with these features and in this condition, in Wildwood, would probably be closer to $275,000 than the $300,000 this home is fetching in Alta Sierra. That 10% discount to the premium that buyers are willing to pay for a Wildwood home verses an Alta Sierra home is important to remember when looking at the investment potential of homes located in both these communities.