Halfplexes in Lake of the Pines?

12 Sep Halfplexes in Lake of the Pines?

Lake of the Pines is a popular gated subdivision in Nevada county. 99% of the homes are detached SFRs. However, there is one street in LOP comprised of attached halfplexes/duets known as Lone Pine Drive.  Every once in a while I’ll receive an assignment on this street and often times there are limited sales. It’s important to look at historic context of these sales vs. detached SFRs.  The 5 year sales charts shows how these homes trended.  For this last assignment, I was lucky and had 3 sales over the past year so I was able to use recent comps. However at times,  some sales may be over 12 months in age which creates more of a challenge in estimating market value.  When this occurs, time and design adjustments are usually involved.

Regarding the overall market in LOP (all SFRs), as of 9/11, there is currently 47 active listings, 13 pending sales and 57 closed sales over the past 6 months. That is 4.9 months of inventory with falls into a balance market category. The average DOM was 55 days.  Inventory has definitely increased which puts more pressure on pricing one’s home competitively. Though mortgage rates have decreased creating an ideal time for buyers to lock in a lower payment, this is an ideal example that it does not necessarily translate into more buyer demand. Pricing is very critical.

Bryan Lynch
Certified Real Estate Appraiser
Office: 530-878-1688
Bryanclynch@gmail.com
Roseville Office : Auburn Office
www.AdvantageAppraisalsCa.com

Disclaimer: All information deemed reliable but not guaranteed. The information is meant entirely for educational purposes and casual reading only and is NOT intended for any other use.  This information is NOT intended to support an opinion of value for your appraisal needs or any sort of value conclusion for a loan, litigation, tax appeal or other potential real estate or non real estate purpose. This appraiser is NOT a qualified home inspector and any tips are for informative purposes only. If you’d like to obtain and order an appraisal for your specific needs, please contact Bryan at 530-878-1688 for more information.