Lake Arrowhead, Crestline and Running Springs Real Estate - Weekly Market Update (11/16/08 through 11/22/08)

Greg and Michelle Steffens
909.336.7971 direct | 909.534.8183 cell | info@gregsteffens.com

WEEKLY MARKET UPDATE
(11/16/08 through 11/22/08)

Inventory bumped up back over 900 units to, specifically, 923 single-family homes currently on the market for sale in our multiple listing service - an increase of almost two dozen homes over last week's report, due to the 37 new properties that hit the market and only 5 sales mountain-wide.

Interestingly, 4 of the five homes that sold this past week were bank-owned properties. ALL four of the repos sold for 100% of their list prices or better and the average number of days on the market was a mere 30 days.

There are another 80 homes in escrow and 34 of those (42.5%) are REO (real estate owned) properties. Compared to the 6.3% of total bank-owned listings that are active in the multiple listing service right now (58 of 923 listings), you can see that buyers are closely watching the foreclosure market and are pouncing on good opportunities as they appear.

ARROWHEAD WOODS

New Listings	11
Median Price	$529,000
Price Range	$289,900 - $1,250,000

Active Listings	394
Median Price	$499,900
Price Range	$190,000 - $5,995,000

Pending Listings	23
Median Price	$375,000
Price Range	$199,900 - $899,000

Sold Listings	1
Median Price	$426,000
Price Range	$ - $
Avg. Days on Market	13.0
Avg. List To Sale %	114.0%

LAKEFRONT HOMES

New Listings	1
Median Price	$6,450,000
Price Range	$ - $

Active Listings	39
Median Price	$2,575,000
Price Range	$799,000 - $9,950,000

Pending Listings	2
Median Price	$2,172,500
Price Range	$1,145,000 - $3,200,000

Sold Listings	0
Median Price	$
Price Range	$ - $
Avg. Days on Market
Avg. List To Sale %	%

SURROUNDING COMMUNITIES
(ARROWHEAD VILLAS, CEDAR GLEN, CREST ESTATES, CREST PARK,
DEER LODGE PARK, RIM FOREST, SKYFOREST, TWIN PEAKS)

New Listings	9
Median Price	$169,900
Price Range	$127,200 - $550,000

Active Listings	151
Median Price	$230,000
Price Range	$49,900 - $1,779,000

Pending Listings	16
Median Price	$166,950
Price Range	$54,900 - $449,000

Sold Listings	1
Median Price	$225,000
Price Range	$ - $
Avg. Days on Market	343.0
Avg. List To Sale %	85.1%

CRESTLINE

New Listings	8
Median Price	$158,950
Price Range	$112,900 - $332,900

Active Listings	145
Median Price	$229,900
Price Range	$64,500 - $695,000

Pending Listings	25
Median Price	$197,900
Price Range	$69,500 - $459,000

Sold Listings	1
Median Price	$179,900
Price Range	$ - $
Avg. Days on Market	91.0
Avg. List To Sale %	100%

RUNNING SPRINGS AREAS
(RUNNING SPRINGS, ARROWBEAR, GREEN VALLEY LAKE)

New Listings	8
Median Price	$239,000
Price Range	$132,500 - $459,900

Active Listings	194
Median Price	$249,000
Price Range	$95,000 - $4,600,000

Pending Listings	14
Median Price	$170,450
Price Range	$55,000 - $2,100,000

Sold Listings	2
Median Price	$157,450
Price Range	$125,000 - $189,900
Avg. Days on Market	8.5
Avg. List To Sale %	100%

* ALL FIGURES TAKEN FROM THE RIM O' THE WORLD MULTIPLE LISTING SERVICE AND ARE DEEMED RELIABLE, BUT NOT GUARANTEED.