Redding Home Values Stronger Than National Average!

According to the latest Zillow Real Estate Market Report, although home price averages dropped 6.5% in Redding in the second quarter of 2008 compared to the second quarter of 2007, this was a much lower drop than the national average of 9.9% during the same period.  What this shows is that although home prices dropped, they dropped more throughout the nation than Redding which helps to show that even though we are around the corner from Stockton, the nations #1 city for foreclosures, that we still have managed to beat the national average.

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Search all Redding Repo/REO Listings!

We’ve created a page on the blog that allows you to search all of the Redding and Shasta County bank-owned (REO) properties and reposessions (REPO’s).  These properties have all already gone back to the banks at the courthouse steps and have actually been listed in the Shasta MLS with a brokerage. 

Click here to search all REPO’s in the Shasta MLS!

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Redding Real Estate

Real estate in Redding has picked up over the last week, according to our perception.  The number of houses on the market has decreased slightly as we expect it to continue to do as fall draws nearer which always happen as the winter holidays encourage sellers to take homes off the market while they entertain house guests.  We’ve just posted today’s latest Real Estate statistics as you’ll see below:

Residential Listings:  There are currently 1886 active listings and another 393 listings that are pending (in escrow).  Last week there were 1915 active listings with another 402 in escrow which was up from 1,702 active listings 2.5 months ago! 

Historical Data for Closed (Sold) MLS Listings in Shasta County

  • 163 closed escrows in April 2008
  • 182 closed escrows in May 2008
  • 151 closed escrows in June 2008
  • 169 closed escrows in July 2008
  • So far in August 2008 there have been 47 closed escrows. 

Overall statistic for the year 2007: there were 2,140 listings that sold (closed escrow) and were recorded in the MLS database.  So far in 2008 we have had 1108 listings that have closed escrow. 

Click Here to search the entire Shasta MLS!

Are you thinking of selling your home?  Before selecting your agent make sure that they know where the market is going, where it has been and how they can help you to SELL your home, not just LIST it!  Contact us today at 530.227.0345 for more information on how our agressive marketing strategy can SELL your home!

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Housing Rescue Bill To Help Homeowners!

redding foreclosure, repo, short sale sign

Redding homeowners, help is on the way!  Saturday the US Senate passed the Housing Rescue Bill, a bill allowing nearly 400,000 home owners to refinance into affordable, government-backed loans. The bill, strongly supported by the NATIONAL ASSOCIATION OF REALTORS®, passed by a margin of 72-13. The House of Representatives approved the bill on Wednesday in a 272-15 vote.

According to to the National Association of Realtors (NAR), the bill will help bring stability to the housing market and put a dent in the rising rate of foreclosures.
 
The program will be run by the Federal Housing Administration, and will insure up to $300 billion in refinanced 30-year, fixed-rate loans. The mortgages can’t be for more than 90 percent of a home’s newly appraised value.For mortgages that exceed the value of the home, the lender would have to voluntarily write down the principal to the qualifying level. If the home goes up in value, the borrower must share newly created equity with the FHA.  Experts say the success of the program depends on how receptive banks are to writing down a portion of the loan.
Some other information on the bill: If passed into law, the program will begin Oct. 1 and end Sept. 30, 2011. Also, borrowers won’t be able to qualify if they have intentionally defaulted on their loans or if they had a debt-to-income ratio of less than 31 percent as of March 1, 2008. 

So what’s left to turn the bill into a law??? The President has to sign off on the bill and then it will be enacted into law effective October 1, 2008.  So, if you are a homeowner that fears losing your home to foreclosure, there may be relief for you without having to do a short sale or be foreclosed upon! 

What do YOU think about the housing bill? Do you think the government should be helping homeowners or do you feel as if the government should stay out and let the banks foreclose on these properties?

 

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Bottom-line Home Sellers

Over the last few weeks it has become apparent that many of the sellers out there have reached their bottom line at which they can/will sell their home for. We’ve written more offers lately with the response from the seller nearer to full price only because they can’t (or won’t) go any lower. What this means is that these sellers are willing to wait out the foreclosure/REO/short sale market until better selling conditions exist for them if they don’t have to sell. If you want one of these homes you may pay a higher price, that is just the bottom line.

What does this mean to buyers? If you are looking at one of these homes (where sellers don’t have to sell) you may have to either up your price to get the home of your dreams or hold out yourself and hope market conditions continue to decline and that particular seller eventually changes their mind and decides to sell. Remember buyers, not everyone with their home listed on the market “HAS” to sell. If you are trying to get a deal (and there are plenty out there in the Redding area right now) you may want to keep shopping through the inventory until you find a seller that will accept your offer. After talking with some of our sellers that don’t have to sell, their response is that they will just “wait out” the foreclosure and REO market. Since they don’t need to sell, if the right buyer comes along then negotiations will happen but someone has to want their home not just “steal” it as some sellers are saying.

This doesn’t mean, however, that all homeowners are inflexible. Many out there are ready to make a deal but you have to write an offer to get it reviewed. Don’t be afraid to make an offer if you are interested and be sure to negotiate as high as you can go initially if there are multiple offers on the home so you don’t miss out on the opportunity if you really want the home.

If you are buying now be prepared to make a few offers on different homes (if you aren’t looking for your “dream home” but would rather find a good investment), be pre-approved with a lender so when you do see a new home come onto the market you are ready to purchase and work closely with your agent to ensure they are out there looking for you as well.

If you need assistance please call us at 530.227.0345 or visit the real estate portion of the blog to search the entire MLS. Remember, we’d be happy to assist you with any of your real estate needs, just let us know! Clint & Mindy Cronic, Real Estate Professionals GMAC

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Turtle Bay Museum “Birds In Flight”

Well yesterday while waiting for some clients to finish an appointment, I took their kids and mine to Turtle Bay Museum to see the Birds In Flight and Butterfly exhibits. I hadn’t been there yet this year but it is so relaxing and fun for everyone, regardless of age! The birds will land on you as you’ll see in the photos and the butterfly exhibit is so peaceful you could just sit on the bench and watch them flutter around you all day and be happy! p.s. we have a family membership…less than $100 for the year and you can have unlimited access to the park and even bring guests for free…now that is a great deal!

no images were found

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Redding Real Estate Market Statistics 7/21/08

Residential Listings:  There are currently 1921 (up from 1915 last week) active listings and another 399 (down from 402) listings that are pending (in escrow).  Two weeks ago there were 1889 active listings with another 391 in escrow which was up from 1,702 active listings 3 months ago!  During April 2008 we had 163 escrows closed, in May we had 182 closed escrows, in June we had  151 closed escrows and so far in July there have been 76 closed escrows.  Overall statistic for the year 2007: there were 2,140 listings that sold (closed escrow) and were recorded in the MLS database while so far in 2008 we have had 965 listings that have closed escrow. Click Here to search the entire Shasta MLS!

Are you thinking of selling your home?  Before selecting your agent make sure that they know where the market is going, where it has been and how they can help you to SELL your home, not just LIST it!  Contact us today at 530.227.0345 for more information on how our agressive marketing strategy can SELL your home!

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Redding Real Estate Market Statistics 7/13/08

Residential Listings:  There are currently 1915 active listings and another 402 listings that are pending (in escrow).  Last week there were 1889 active listings with another 391 in escrow which was up from 1,702 active listings 2.5 months ago!  During April 2008 we had 163 escrows closed, in May we had 182 closed escrows, in June we had  151 closed escrows and so far in July there have been  38 closed escrows.  Overall statistic for the year 2007: there were 2,140 listings that sold (closed escrow) and were recorded in the MLS database while so far in 2008 we have had 927 listings that have closed escrow. Click Here to search the entire Shasta MLS!

Are you thinking of selling your home?  Before selecting your agent make sure that they know where the market is going, where it has been and how they can help you to SELL your home, not just LIST it!  Contact us today at 530.227.0345 for more information on how our agressive marketing strategy can SELL your home!

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Redding Real Estate Market Statistics 6/16/08

Residential Listings:  There are currently 1889 active listings and another 391 listings that are pending (in escrow).  2 weeks ago there were 1856 active listings with another 356 homes in escrow which was up from 1,702 active listings 2 months ago!  During April 2008 we had 163 escrows closed, in May we had 182 closed escrows and so far in June there have been 50 closed escrows.  Overall statistic for the year 2007: there were 2,140 listings that sold (closed escrow) and were recorded in the MLS database while so far in 2008 we have had 786 listings that have closed escrow. Click Here to search the entire Shasta MLS!

home_page_house Redding Real Estate Market Statistics 5/6/08 

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Redding REPO – Lowest Price in Area!

So, back in 2008 I created this post for a repo that was on the market and it has provided a lot of feedback from clients so I am going to just keep updating it with new repos that we think may be “good deals” for potential buyers! Call us at 530.227.0345 for any questions or if you’d like a printed or emailed list of Redding Foreclosures.

Search All Redding Foreclosures!

3/2/10: 13173 TIERRA OAKS DR, REDDING, CA 96003
MLS #10-889 $354,900

Bank-owned Redding foreclosure featuring 4 bedrooms and 2.5 baths with 2,663sqft of living space all situated on 3 acres.  Has sought after features, granite counters, tile floors, wood stove on stone hearth, split floor plan, loads of storage, built in cabinets in bedrooms, hallway, upstairs loft included in s.f., inground pool, trex deck and close proximity to the freeway, As most bank foreclosures (REO’s), this home is being sold “As Is”.

Call us today at 530.227.0345  for more information on this home or email us at contactus@sellingredding.com
Advertised with permission by
Clint and Mindy Cronic of Next Generation Real Estate Services
DRE License #’s 01314114 and 01458166
(530) 227-0345
http://www.SellingRedding.com
http://www.ReddingBlogs.com
Listing Agent: Donald C. Hascall, DRE License # 01044242

6/20/08: Update to the home at 134 Ironwood Lane: Sale price $365,000 on 6/20/08

5/28/08:  So this week’s real estate “good deal” that we’ve found through the MLS database is located at 134 Ironwood Lane in Redding.  This home is located in Riverpark Highlands off River Park Drive in Redding.  Featuring 2618 square feet, 3 bedrooms and 2.5 baths, beautiful views off the expansive deck and hot tub area and is situated on an oversized city lot (under 1/2 acre).  The home also features an attached 3-car garage.  This home was sold in December of 2006 for $485,000 and is now available as a bank repo (or REO) for $323,900.  The home is sold as-is as nearly all REO properties are.  Listed by Linda Allison at Allison Realty Associates.  For more information or to view the property call Clint Cronic at Next Generation Real Estate Services at 530.227.0345.  The complete listing is available by clicking here

134 Ironwood, redding, ca

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First Impressions DO count in real estate

The latest craze in real estate as most know is to complete DIY projects, saving time and money for the homeowner.  This is true in many instances but follow a couple rules: take your time and don’t cut corners and decorate for the masses if you are planning to sell anytime soon.  What I mean by “decorate for the masses” is to create an environment with paint colors and materials that almost anyone could bring their existing furniture into and live. 

What we are seeing now with many homes on the market in our area is a need for buyers to get the best “perceived value”.  They may look at 20 homes and find one home over the rest that has been staged to sell (doesn’t have to be by a professional “stager”) but appears as if the current owners have meticulously maintained the home.  Walking into a home with a clean front porch, clean eaves, mowed lawn and a couple live potted plants feels inviting to potential buyers whereas overgrown grass, broken-down cars and dead plants can be a warning sign of an improperly maintained home.  Here is a quick sample of what I mean…

  

Unstaged/cluttered homes might detract buyers

  

Clean and fresh homes attract buyers to see more!

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DIY Home Improvement under $100!

Courtesy of HGTV.com, we’ve got some great tips for you on how to improve your home with a minimal investment of only $100!

Click here for a larger image

Tip 1: Spend an hour with a pro.
Invite a realtor or interior designer over to check out your home. Many realtors will do this as a courtesy, but you will probably have to pay a consultation fee to a designer. Check with several designers in your area; a standard hourly fee is normally less than $100, and in an hour they can give you lots of ideas for needed improvements. Even small suggested improvements, such as paint colors or furniture placement, can go a long way toward improving the look and feel of your home.

Tip 2: Inspect it!
Not every home improvement is cosmetic. Deteriorating roofs, termite infestation or outdated electrical systems — you can’t fix it if you don’t know it’s broken. Hire an inspector to check out the areas of your home that you don’t normally see. They may discover hidden problems that could negatively impact your home’s value. Small problems (such as a hidden water leak) can become big, expensive problems quickly; the longer you put off repairs, the more expensive those repairs will be.

Tip 3: Paint, paint, paint.
One of the simplest, most cost-effective improvements of all is paint! Freshly painted rooms look clean and updated — and that spells value. When selecting paint colors, keep in mind that neutrals appeal to the greatest number of people, therefore making your home more desirable. Be sure not to over-paint (covering hardware, etc.) and make sure you take your time and do a good job.  On average, a gallon of paint costs around $25, leaving you plenty of money to buy rollers, painter’s tape, drop cloths and brushes. So buy a few gallons and get busy!

Tip 4: Find inspiration.
An alternative to hiring a designer is to search for remodeling and decorating inspiration in design-oriented magazines, books, TV shows and websites. Simply tear out or print off the ideas you want to try and start your to-do list. Keep it simple — when remodeling on a tight budget, do-it-yourself projects are best.

Tip 5: Cut energy costs.
The amount of money you spend each month on energy costs may seem like a fixed amount, but many local utility companies provide free energy audits of their customers’ homes. They can show you how to maximize the energy efficiency of your home. An energy-efficient home will save you money now, which can be applied to other updates, and is a more valuable and marketable asset in the long run.

Watch videos courtesy of HGTV.com!

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Redding Real Estate Market Statistics 5/24/08

Residential Listings:  There are 1,856 active listings and another 356 listings that are pending (in escrow)…up from 1,702 a little over a month ago!  Year-to-date during 2008 we have had 676 listings that have sold (closed escrow), during April 2008 we had 163 escrows closed and so far in May we have had 122 sold listings.  Overall statistic for the year 2007: there were 2,140 listings that sold (closed escrow) and were recorded in the MLS database.  

home_page_house Redding Real Estate Market Statistics 5/6/08

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Historic Bed & Breakfast Reduced $50,000!

Priced to sell…this property is located in the historic district of French Gulch and is under 20 minutes from Downtown Redding and under 5 minutes from Whiskeytown and the Oak Bottom Marina!  Great opportunity with operating restaurant, bar and bed and breakfast…great for weddings, family gatherings or work retreats…the possibilities are endless!

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