11788 Francis, Alta Sierra two-story 3&2, listed and pending at $324,900

There is not question that a quick sale of this home indicates upward pressure on prices as we go into the end of the winter market and start thinking about where prices will head in spring. A very similar single story ranch home two houses away just sold for $295,000, and it took 15 days to go pending. This home was listed and sold the same weekend, for almost $30,000 more. This home is a bigger home, but it is also a two story home on a much smaller lot. Buyers recognize there is a lack of inventory as we get ready for spring. This sends a shot across the bow for both buyers and sellers regarding the coming market.
Keep your eyes wide open, even a small house that needs a bit of work could be good investment if it is priced right. With buyers now clearly willing to pony up $300,000 for just about anything that is move-in ready, price spreads between list and repair costs get some buffer, and there may be some money to be made if the right deal comes on the market in March. I will be watching closely.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004