I would not have characterized the real estate market in Lake County as being stable (Record-Bee, March 25). Your reporter should have done a more research with hard data and comparisons such as the number of foreclosures and short sales in the county now versus several years ago. I”m sure you would find that number growing and that is not a sign of stability but rather a factor in the market price correction.
The number of foreclosures should have been easy for you to track since you post them in your paper every week. The comparisons should have included statewide data which could have been pulled from the DRE and the California Association of Realtors. Our market should have been compared with sales performances with our neighboring counties like Napa, Sonoma and Mendocino.
Our median home prices should have been compared to the state median home prices which would show that you get more for your money in Lake County.
I also want to point out that I was misquoted in the article where it says most properties are less than $300K with many closer to $100K. What it should have said is that most sales activity over the past 6 month has been under $300K and many properties such as lots have been selling for under $100K.
I did like the optimistic comments regarding future market expectations with the belief that our area will still attract a large number of baby boomer retirees. After all, the reports should not be all doom and gloom as we constantly read and hear in the mainstream media.
My recommendation: Do more homework and post another article with better supporting facts and figures not just anecdotal opinion as it is very important to our local market and economy.
Rick White, Realtor
Konocti Realty
