C.A.R Reports Homes Sales Increase in February

The California Association of Realtors has reported that sales of existing, single family homes increased 83 percent in February compared with the same period a year ago. All C.A.R regions experienced a significant increase in home sales with the exception of the Santa Barbara South Coast, which experienced a drop of 9.4%.

California home prices dropped an average of 40.8 percent in February, bringing the statewide median price of an existing single family home down to $247,590. Average time on the market has decreased as well from 69.3 days to 51.5 days. Monterey has experienced the sharpest decline in median home prices, down to $241,130 in February compared to $619,790 just one year ago.

First time home buyers are taking advantage of low interest rates, the $8,000 tax credit and plunging home prices. Investors are also snatching up the best buys with cash and existing equity.

It's Time for a Burger!!

It's a sure sign that summer is right around the corner...Miller's Landing Resort and The Forks Resort at Bass Lake officially re-open for the season tomorrow, March 27th. Hundreds of locals will be flocking to the south shore to get their "Forks Burger" or "Miller Burger" fix after a long, dreary winter. Although the Forks has been reputed to serve the "best burger at Bass Lake", Miller's Landing has presented themselves as fierce competition for the honor. Both resorts have printed coupons in the Sierra Star. If you plan to go for your Bass Lake burger fix this weekend, be prepared to be patient. With the weather forecast calling for sunny skies and pleasant temperatures in the high 60's to low 70's there are sure to be lots of people lined up at both resorts.

After you indulge in a hefty order of burger and fries take a stroll along the shoreline. The low water level that has so many Bass Lake dock and boat slip owners concerned allows for lots of great beach. We took our dog for a hike a couple of weeks ago and it was great!!

Abraham Lincoln Exhibit coming to Oakhurst!

The Abraham Lincoln: Self Made in America Learning Exhibit is coming to Oakhurst next spring. The Wild Wonderful King Vintage Museum will be displaying the exhibit from March 5, 2010 through April 2, 2010. This exhibit is only being displayed in 4 locations throughout California and Oakhurst was one of the lucky winners! The Eastern Madera County Chamber of Commerce and the King Vintage Museum will be hosting a kick-off celebration on Abraham Lincoln's birthday in 2010. Special hours will be designated for the general public and school tours. For more information on this tremendous exhibit visit www.PresidentLincoln.org.

First Time Home Buyer Tax Credit-Is It Working?

There has been a lot of hype over the last vew months regarding the first time home buyer tax credit. Most would agree that home sales have increased significantly; however, 3 out of 4 homes sold are still foreclosure and bank-owned properties. Overall, the rate of new foreclosures has dropped. January brought a drop across the board in Notices of Default, Notices of Trustee Sale and auctions. This drop can primarily be attributed to the changes taking place with the country's lending institutions. Click here to view ForeclosureRadar's California Foreclosure Report.

FFA Dinner Dance & Auction

The FFA will be holding a dinner, dance and auction this Saturday at the Oakhurst Community Center from 5pm to 8pm. Proceeds benefit the Yosemite High School FFA. For further information contact Lynette at 559-683-4464 or LAlfaro-Souders@SierraStar.com.

Crane Valley Dam Seismic Retrofit Project

PG&E will be conducting two public meetings to discuss the Crane Valley Dam Project. The dates are:

April 1, 2009, 6 to 8 pm at the Pines Resort Lakeview Room.

April 2, 2009, 6 to 8 pm at the North Fork Town Hall.

There is growing concern among residents and business owners regarding the water level in the lake for the summer months. Although the lake will remain open for all recreational use for the duration of the project many boat docks may be rendered unusable.