Home Sales Continue Post-Tax Credit Correction

RISMEDIA, October 20, 2010—The summer season of home buying was a difficult one because many buyers purchased earlier in the spring in an attempt to qualify for the government’s tax credit. Now the market is still attempting to return to traditional seasonal trends. A monthly survey of 54 metropolitan areas indicates that sales were 6.4% below those in August and 20.6% below sales in September 2009. The inventory of homes for sale is dropping slightly, which has resulted in a stabilization of prices.

“We anticipated the drop in home sales this summer due to the tax credit, and we usually see sales in September fall below August levels, but we’re encouraged by reports of signed contracts in the field,” said Margaret Kelly, CEO of RE/MAX, LLC. “An increase in signed contract activity should translate into increased home sales in the coming months.”

Transactions – Year-Over-Year Change
It seems clear that home buyers trying to take advantage of the tax credit bought early. Sales in the spring were much higher than normal. This could explain why September 2010 sales were 20.6% below September last year. September sales were also down from the previous month by 6.4%. Much of this drop may be due to the usual trend of slower sales at the end of the summer. Of the 54 metro areas, only one reported higher sales from a year ago. Miami showed a 3.2% increase over September 2009.

Median Sales Price – Year-Over-Year Change
Even though transactions dropped in the month of September, home prices remained relatively stable, and 33 of the 54 metro areas surveyed showed a year-to-year increase in home sales prices. Overall, prices were down 2.7% from August, but still up only 0.9% from a year ago. Prices are still higher than 2009 in California cities and are up in the South and Midwest too; Raleigh, NC +11.6%; Pittsburgh, PA +8.2%; Detroit, MI +7.7%; Little Rock, AR +6.4%; Nashville, TN +5.7%; Philadelphia, PA +5.2%; Jackson, MS +4.7%; and Charlotte, NC +4.2%.

Days On Market – Average of 54 Metro Areas
For the homes that sold in the survey’s 54 metro areas, the average number of days it took from listing to signed contract was 88, four days longer than the 84 day average reported last month and also higher than the 87 day average in September one year ago.

Months Supply of Inventory – Average of 54 Metro Areas
The inventory of homes on the market in September dropped 2.8% from August and is 0.52% lower than the inventory in September 2009. Based on sales contracts signed in September, the Months Supply of Inventory in the survey’s 54 cities was 9.8, which is slightly higher than the 9.1 supply reported in August and higher than the 7.1 month supply in September 2009. The Months Supply of Inventory indicates how long it would take to eliminate the current inventory of homes for sale in the survey’s 54 metro areas at the current rate of sales. A six month supply is considered a market that is balanced equally between buyers and sellers.

For more information, visit www.remax.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

For additional real estate related headlines on RISMedia.com, check out:
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Realtors Support FHFA Proposal to End Private Transfer Fees

RISMEDIA, October 19, 2010—The National Association of Realtors (NAR) strongly supports the proposed guidance from the Federal Housing Finance Agency to prevent government-sponsored enterprises Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks from investing in mortgages encumbered by private transfer fee covenants.

In a letter sent to FHFA, NAR reiterated its opposition to these covenants, which developers often attach to a property to require payment of fees back to that developer each time the property is resold. These covenanted mandates are often extremely difficult to reverse once in place, and in many cases are attached to a deed for up to 99 years.

“As the leading advocate for homeownership and private property rights, we oppose private transfer fees, which decrease affordability, serve no public purpose, and provide no benefit to purchasers or the community where the home is located,” said NAR President Vicki Cox Golder, owner of a real estate company in Tucson, Ariz. “These fees increase the cost of homeownership and place an inappropriate drag on the transfer of property—they do little more than generate revenue for private developers or investors.”

NAR also made recommendations to FHFA if the agency decides to provide an exception for organizations such as homeowners associations, where there may be a direct benefit to the homeowner.

“If FHFA believes that some private transfer fees have a legitimate place in real estate markets, then we recommend they adopt strategies to minimize any unintended consequences. If an exception is made for certain organizations, such as homeowners associations, then FHFA should ensure that the fees paid are reasonable and fully disclosed—otherwise these properties could be at a disadvantage in the marketplace. FHFA should also consider an exception for existing properties with private transfer fees because the lack of an exception would curb the ability of homeowners to sell their homes,” said Golder.

There is virtually no oversight on where or how private transfer fee proceeds can be spent, on how long a private transfer fee may be imposed, or on how the fees should be disclosed to home buyers. For these reasons, 12 states have banned or restricted private transfer fees, including Arizona, Delaware, Hawaii, Illinois, Iowa, Maryland, Louisiana, Ohio, Mississippi, Minnesota, North Carolina and Utah.

For more information, visit www.realtor.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

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$349000 MLS® 29456 River Ave.

(Shasta County – Castella, California, US)

Listing Thumbnail Photo

Details


What a great place to escape the city life. This custom Sweetbriar home is located just across the road from the Upper Sacramento River. Walk just a few feet to the river and you’re fishing (year round)! For those who love a good hike, you’re not far from Castle Crags State Park either. This beautiful home has been used as a vacation rental and all of the interior furnishings (except the piano) are included in the sale. Featuring REAL hardwood floors and a cozy wood stove, this place has a lot to offer after a great day of fly fishing the Upper Sacramento River. There’s even an exterior door that goes right into the downstairs bathroom for easy wader/boot removal and cleanup before dinner. Call us today for your own private tour or even stay a couple of nights.

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$349000 MLS® 29456 River Ave.

(Shasta County – California, US)

Listing Thumbnail Photo

Details


What a great place to escape the city life. This custom Sweetbriar home is located just across the road from the Upper Sacramento River. Walk just a few feet to the river and you’re fishing (year round)! For those who love a good hike, you’re not far from Castle Crags State Park either. This beautiful home has been used as a vacation rental and all of the interior furnishings (except the piano) are included in the sale. Featuring REAL hardwood floors and a cozy wood stove, this place has a lot to offer after a great day of fly fishing the Upper Sacramento River. There’s even an exterior door that goes right into the downstairs bathroom for easy wader/boot removal and cleanup before dinner. Call us today for your own private tour or even stay a couple of nights.

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Mortgage Insurance Plays Increasing Role in Optimizing Home Financing

RISMEDIA, October 18, 2010—In today’s dicey lending environment, many a would-be home buyer often falls into one of two camps: uninformed or running scared. Unfortunately, tightening lending standards and a pervasive unease about the overall economy have combined to keep many consumers on the sidelines of homeownership. In many cases, however, proper guidance on the available loan products could have shown these consumers that not only is a home purchase achievable, but affordable as well.

Kelli Brookman, training manager for Philadelphia-based mortgage insurer Radian Guaranty, works on the front lines with account executives and loan officers to ensure they are equipped to properly guide consumers through the variety of mortgage options available to them.

With more than 20 years experience in the mortgage industry, Brookman understands that effectively working with home buyers in today’s challenging economic climate requires lenders and real estate professionals to possess a comprehensive understanding of all available options.

Consumers today are confused, says Brookman. “People were able to get a loan three years ago and they’re trying to understand why they’re having a more challenging time qualifying for a loan today,” she explains. “Real estate professionals and loan officers need to understand what products and services are available and then translate that information for the consumer.”

While most home buyers today are, understandably, focused on getting the best rate when it comes to securing a mortgage, that does not always translate to securing the lowest possible payment, Brookman explains.

“Consumers need to know what the best deal for them is,” says Brookman, “and they can’t just go on one criteria—the rate. The rate is not the end game for the majority of people.”

One of the options that real estate agents and loan professionals need to become better versed on is mortgage insurance (MI), says Brookman. While many buyers view MI as just another fee that gets tacked onto their payment, MI is actually becoming an increasingly desirable option for low-downpayment buyers, especially in light of recent changes that have made FHA loan products more costly and more difficult to qualify for.

According to Bookman, MI is not a difficult concept to understand; it’s just a product that many haven’t dealt with in a long time. “If you look at what MI does compared to what it costs, it’s obviously well worth it,” she explains. “An important part of our obligation to consumers is to get out there and explain the benefits of MI.”

Radian’s MI products, for example, can help buyers achieve homeownership sooner by qualifying for loans with smaller downpayments (sometimes as low as 5% down), while protecting borrowers against the risks of a low-downpayment mortgage. MI also offers flexible premium payment options, which can be canceled once the home reaches 80% of its original value.

“Real estate professionals and lenders need to understand all the available resources that will help them work more effectively with consumers right now, and mortgage insurance offers some huge advantages,” says Brookman. “Back when the market was rocking, lenders had the ability to find a loan product for just about anybody. But these days, we really have to employ our problem-solving skills as opposed to just jumping in there with a product. Today, lenders and real estate professionals have to get back to the fundamentals of how to develop and work with customers. It’s about listening to what is important to your customers and figuring out what their best options are.”

As home buyers increasingly turn to the Internet and other sources to become more educated prior to the home-buying process, real estate agents need to become more educated on the financing options, advises Brookman: “Even if it’s outside of your expertise, it’s really important to know the entire industry…not just your part of the industry. You don’t have to be a subject-matter expert on every facet, but if you want to be in that top 10% of real estate professionals, you at least need to understand the options.”

“You have to look at what will help you stand apart from the crowd,” adds Brookman. “When Realtors understand all the loan products out there, that puts them ahead of the game.”

Brookman also encourages real estate and lending professionals to be proactive in community outreach efforts to educate consumers about financing options, like MI, that can make homeownership affordable for many who currently believe the American Dream is out of reach.

“For the mortgage industry to really get back to a position of credibility, we have to prove that the consumer’s goals and desires are important to us,” says Brookman. “Whether it’s Radian, loan officers, real estate professionals…we all have to work together as a group to help everybody achieve their respective goals because when I’m successful, you’re successful…and most importantly, the consumer is successful.”

For more information, visit www.radian.biz.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

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Redding Real Estate Update 10/11/2010

This Week’s Redding Real Estate Update:

Residential Market Statistics

Active Listings: 1,535 (from 1,547  last week, 1,598 two weeks ago, 1,599 three weeks ago)

Pending Listings: 424 (from 422 last week, 429 two weeks ago, 439 three weeks ago)

Total Closed Escrows in 2010: 1,587

Closed so far in October: 45

Sept: 187   Aug: 162    July: 168     June: 201      May: 182     April: 173     March: 187     Feb: 125     Jan: 117

Total Closed Escrows in 2009: 2,065

Total Active Repo/REO’s: 263 this week and last, 257 last week, 260 two weeks ago

Total Active Short Sales: 239 this week, 240 last week, 240 two weeks ago
For more information on the current real estate market in Redding, California or its surrounding areas including a free MLS search including REPO/REO/foreclosure properties visit http://www.sellingredding.com or call Clint or Mindy Cronic at 530.227.0345.  Next Generation Real Estate Services, DRE License #s 01314114 and 01458166

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Home Sellers Must Look Beyond Price Cuts in Today’s Market

RISMEDIA, October 15, 2010—(MCT)—Ken and Linda Bolsch put their five-bedroom, five-year-old Mahwah, N.J., colonial on the market in January, sure that buyers would appreciate its low taxes, wooded lot, and impeccable decor and landscaping. But after nine months—and a price cut from $925,000 to $749,000—the house is still on the market, with the couple looking at a substantial loss at that price. “We fell in love with the house from the moment we saw it, and we don’t know why other people aren’t doing the same,” Ken Bolsch said. “We’re so confused and confounded about the whole thing.”

These are tough days for sellers. Sales have plunged at least 20% from last year’s numbers, following the expiration of a federal tax credit for home buyers, and the real estate market is headed into a traditionally slow season. Small wonder that sellers feel discouraged and disappointed.

Bob Sandusky of Weichert, the Bolsches’ agent, sums up sellers’ feelings in one word: “frustration.”

“They’re angry. They’re bitter. They’re in a bad place; they’re in a sad place,” said Attilio Adamo of Prudential Adamo Realty in Harrington Park, N.J.

The usual prescription for a house that won’t sell is simple: Cut the price. “If the seller allows you to price it right, it goes,” said Roslyn Breitstein of Prudential Adamo.

But many sellers can’t stomach that thought. If they bought within the past few years, they may have mortgages bigger than the amount they could get for the house.

“They can’t believe that their house could be worth 30 percent less than what their neighbor got a few years ago,” said Barbara Liati of Prominent Properties Sotheby’s International Realty in Tenafly, N.J. In fact, there’s one sentence that real estate agents hear over and over: “I’m not giving my house away.”

“It seems no matter what a person bought their home for, they do not feel in this economy they are getting the real value for their home,” said Ellen Weiner, a Weichert agent in Clifton, N.J.

And sellers have to deal with buyers who feel they have the upper hand. Buyers ask for lower prices, even if the price has already been cut. After a home is inspected, buyers will push sellers to correct even minor problems, agents say.

Moreover, buyers are in no rush to make an offer. “They’re worried about their jobs,” said Dick O’Connor, a Dumont, N.J., broker. “People are looking at houses, but they won’t buy.”

“Buyers keep thinking there’s going to be a better deal around the corner,” Adamo said.

“The buyer population out there wants it for nothing, and they want all the bling,” said Elizabeth Sarkozi, a corporate tax manager who put her four-bedroom, 52-year-old Englewood Cliffs, N.J., split-level on the market last February, asking $925,000.

She expected it to sell quickly because of the town’s relatively low taxes and location near New York City’s George Washington Bridge. But although she has dropped the price to $899,000, she has not found a buyer.

Sarkozi has not updated her house with all the extras some buyers seem to expect—whirlpool tubs in the bathroom, granite countertops in the kitchen. But she thinks they wouldn’t be happy anyway: “I’m convinced that even if I had granite countertops, they’d say, ‘You have gray—I wanted brown.’”

She has seen nearby properties go for $200,000 or more off their listing price. She figures those sellers may be under pressure to sell because of job losses or trouble paying the mortgage. She is not in that position, but the distressed sales are hurting the value of her property, she said.

“I have a sense that people are holding back to see how much lower things will go,” Sarkozi said. “It’s a waiting game. Your property is really worth what someone is willing to pay for it, but I’m not going to give it away. I’ve done everything I can and when it’s still not working, what am I supposed to do? Manufacture a buyer?

“It’s a very frustrating market right now, and I’m really not hopeful until I see an uptick in employment,” she continued. “I don’t expect to sell the house anytime soon. It may be spring before I sell it.”

Agents often remind sellers that the lower price they get when they sell will be offset by the lower price they will pay on the next property.

That’s the attitude of Samantha and John Karageorge, who have signed a contract to sell their 20-year-old Demarest, N.J., contemporary. They’re selling for less than what they’ve spent on the house, including the 2006 purchase price and the cost of extensive renovations.

An interior designer with S and S Designs, Samantha said she is looking for another house to improve. In the current market, she expects to find some attractive deals.

“This market is going to work to our benefit on the buy side this time,” she said.

But many sellers find it tough to keep that in mind when a buyer is low-balling them.

Some sellers face unusual challenges beyond the market climate. In Pompton Lakes, N.J., banker Keith Orotosky put his expanded Cape Cod on the market last May. The meticulously updated and landscaped house is on a dead-end street just a few blocks from the lake. But Orotosky has had no offers, despite lowering the price to $379,900.

The house is in the so-called plume area, where hazardous chemicals from a nearby defunct DuPont munitions factory have been seeping under houses. Orotosky accepted DuPont’s offer to install a venting system to draw the dangerous vapors out of the basement.

“But people look at Pompton Lakes, and say, ‘I don’t want it,’” Orotosky said. He added, half-seriously, “There’s only two sections—plume or flood.”

When Orotosky’s parents moved from Paterson, N.J., and bought the house in 1950, they weren’t concerned about the DuPont plant. “Who knew?” Orotosky said.

He said the closest thing he’s gotten to an offer was a prospective buyer who asked his agent if Orotosky would take $175,000—more than half off his asking price.

The Bolsches think their location, on Mahwah’s Stag Hill, is also working against them. Though they are only about two miles from Route 17 and Route 287, some prospective buyers find the area too rural; they say they want more of a “neighborhood” feel, with other kids nearby for their children to play with. Others say they are intimidated by the twisting road through the woods up the hill, although the Bolsches and their agent assure them that Mahwah keeps it clear during snowy weather.

Ken Bolsch, a former restaurateur and caterer, said he “felt like I was in Vermont” when he first saw the house. He and his wife bought it from the builder in February 2005, paying $812,000. The 4,000-square-foot house has granite countertops and other upscale touches, and is on a sloping lot studded with boulders and landscaped with stone walls. Its taxes are only $5,900—low for North Jersey.

In January, after deciding to move to Florida to help their son start a power-washing business, the couple put the house on the market for $925,000. “I knew that was kind of pie-in-the-sky, but I thought, ‘Let’s see what happens,’” Bolsch, recalled. “I thought we’d be out before Memorial Day.” But it’s still on the market, now at $749,000.

(c) 2010, North Jersey Media Group Inc.

Distributed by McClatchy-Tribune Information Services.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

For more Redding information click here to visit our main Redding Blog, www.ReddingBlogs.com for everything Redding!

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Nearly Eight in 10 Americans Still Believe Buying a Home Makes Good Financial Sense

RISMEDIA, October 15, 2010—Nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. That’s according to the 2010 National Housing Pulse Survey, an annual report released by the National Association of Realtors. The survey, which measures how affordable housing issues affect consumers, also found job security concerns to be the highest in eight years of sampling, with 70% of Americans saying that job layoffs and unemployment are a big problem in their area; eight in 10 cite these issues as a barrier to homeownership.

“The real issue facing the nation’s economy right now is that many Americans can’t find meaningful work to support their families,” said NAR President Vicki Cox Golder, owner of a real estate company in Tucson, Ariz. “While a job recovery is what’s needed right now to get the economy and housing market back on the right track, owning a home continues to be part of the American Dream and one of the best long-term investments in your future.”

Despite economic uncertainty, 68% of those surveyed still believe now is a good time to buy a home; while that number is down from last year (75%), it’s up from 2008 (66%) and 2007 (59%). Lower home prices and record-low mortgage interest rates may be attracting buyers to the housing market—more than one-fourth of renters said they are thinking more about buying a home than they were a year ago. Sixty-three percent of renter respondents said that owning a home is a priority in their future, and nearly 40% said it was one of their highest priorities.

Lower home prices have improved affordability. In fact, the percentage of renters who are worried that the cost of housing is getting so unaffordable that they will never be able to buy a home has decreased steadily since 2007, from 63% to 57%.

Despite improved affordability, 79% of respondents still consider having enough money for down payment and closing costs to be among the biggest obstacles to buying a home. Another obstacle is a lack of confidence in their ability to be approved for a loan, reported by 73% of respondents.

The good news is that Americans are seeing more stability in the real estate market. Nearly seven out of 10 believe that home values have stabilized in their area; the same number expects home sales to remain about the same through the end of the year.

While more than half (51%) say foreclosures are a problem in their area, the rate of foreclosures is also seen as stabilizing; 51% say the rate is about the same as last year. Thirty-six percent of respondents cite the recession, loss of jobs and the poor economy as the main reason for the ongoing foreclosure problem. This has also led to a slight increase in the number of people who believe the federal government should take a more active role overseeing loans and mortgages (44%, up from 43% last year).

While nearly seven out of 10 say it’s harder to sell a home in their area today than it was a year ago, it’s less of a concern from last year when the number was 10 percentage points higher. This is most likely the result of lower home inventories.

The 2010 National Housing Pulse Survey is conducted by American Strategies and Myers Research & Strategic Services for NAR’s Housing Opportunity Program. The telephone survey was among 1,209 adults living in the 25 most populous metropolitan statistical areas. The study has a margin of error of plus or minus 3.1 percentage points.

For more information, visit www.realtor.org.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

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Return of the Salmon Festival at Coleman National Fish Hatchery

When: Sat Oct 16, 2010

Who: Family/Kid Events

Where: 24411 Coleman Fish Hatchery Road,Anderson,California,96007,United States

MORE INFORMATION:

Event Description: The annual Return of the Salmon Festival has been celebrated at the hatchery since 1991 in an effort to increase outreach and visitor use. During this one day festival the third Saturday in October over 10,000 visitors are attracted to the hatchery. Many other organizations (Federal, State and private exhibitors) participate in this event with a wide array of information pertinent to natural resource issues. Visitors during the festival are treated to viewing large numbers of fall Chinook salmon returning to Battle Creek and the hatchery, and may observe all aspects of day-to-day hatchery operations such as spawning, egg incubation, and juvenile rearing. Visual information sites are located on the hatchery grounds to provide a narrative for visitors to understand life history, habitat requirements, and other biological information. For more information and to confirm event, call 530 365-8622.

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Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers

RISMEDIA, October 13, 2010—It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists’ expectations. This is good news for both buyers and sellers.

While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don’ts for today’s buyers and sellers:

For Sellers:

DO’S
Be flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.

Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.

DON’TS
Don’t be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you’re not fooling anyone by pricing it at $500,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.

Don’t get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?

Don’t procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.

For Buyers:

DO’S
Get a home inspection. It’s important to hire a trusted home inspector to check out the house’s potential issues and problems. Don’t skip a home inspection because you’re afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.

List your place before you look for another. If you’re truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.

Talk before you act. Don’t ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you’re buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just “gotta have,” or are emotional about, could put you in dire financial straits later. You don’t want to buy a house that isn’t affordable for you, and then be worried about paying for dinner and a movie on Saturday night.

DON’TS
Don’t be a design snob.
If someone’s enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that’s a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.

Don’t make a silly offer. There’s nothing wrong with making an offer below asking price—it’s no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won’t even bother counter offering an outrageously low offer. Feel free to make a deal—just don’t make an offer so low that you’ll be kicked off the table.

For more information, visit www.pillartopost.com.

Dan Steward is the president of Pillar To Post Home Inspections.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

For more top headlines on RISMedia.com, be sure to see:
For Your Clients: Tips to Keep Your Central Air Running Well
Four Social Media Strategies that Work

For more Redding information click here to visit our main Redding Blog, www.ReddingBlogs.com for everything Redding!

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Be Market-Smart: Dos and Don’ts for Home Sellers and Buyers

RISMEDIA, October 13, 2010—It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists’ expectations. This is good news for both buyers and sellers.

While challenges still exist—for instance, getting the best price when selling, or securing financing when buying—there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don’ts for today’s buyers and sellers:

For Sellers:

DO’S
Be flexible. Often it’s the little things that push a buyer into the “yes” zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.

Clean up. One person’s prize doll collection is another person’s cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than “Aw, how cute!” from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.

DON’TS
Don’t be greedy. The market—not your emotions—dictates your home’s price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you’re not fooling anyone by pricing it at $500,000—and you’re only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.

Don’t get personal. If you’re selling your house for a certain amount, and someone offers something much lower, don’t take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What’s the harm in making a counteroffer?

Don’t procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It’s all relative. So if you’re serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.

For Buyers:

DO’S
Get a home inspection. It’s important to hire a trusted home inspector to check out the house’s potential issues and problems. Don’t skip a home inspection because you’re afraid of what you might hear—many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.

List your place before you look for another. If you’re truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible—and contingency sales, which can be very complicated, are often rejected.

Talk before you act. Don’t ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself—or with your partner, if you’re buying with someone else—long before you start seriously searching. Going out of that zone because of a place you just “gotta have,” or are emotional about, could put you in dire financial straits later. You don’t want to buy a house that isn’t affordable for you, and then be worried about paying for dinner and a movie on Saturday night.

DON’TS
Don’t be a design snob.
If someone’s enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that’s a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad décor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.

Don’t make a silly offer. There’s nothing wrong with making an offer below asking price—it’s no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won’t even bother counter offering an outrageously low offer. Feel free to make a deal—just don’t make an offer so low that you’ll be kicked off the table.

For more information, visit www.pillartopost.com.

Dan Steward is the president of Pillar To Post Home Inspections.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

For more top headlines on RISMedia.com, be sure to see:
For Your Clients: Tips to Keep Your Central Air Running Well
Four Social Media Strategies that Work

For more Redding information click here to visit our main Redding Blog, www.ReddingBlogs.com for everything Redding!

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$159000 MLS® 3414 Oak Street

Anderson (Willow Glen Estates – Anderson, California, US)

Listing Thumbnail Photo

Details


This is the best buy in Willow Glen, no doubt about it! Near the very end of Oak St and backs to the pond and the walking trail. The floor plan boosts a great use of space and functions very well. Two sliders lead to the full length covered patio that takes advantage of the pond and greenway views. The adjacent homes are all very nice as well. Call for your appointment today and take a look!

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For more Redding information click here to visit our main Redding Blog, www.ReddingBlogs.com for everything Redding!

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$695000 MLS® 3333 Ballard Road

Shasta (Vina – California, US)

Listing Thumbnail Photo

Details


Nestled among vineyards and orchards in Northern California, this very private estate is the ultimate waterfront retreat for the discriminating buyer. Set on 3+ acres with a living pond that is home to otters, beavers, waterfowl and fish, you and your guests may never want to leave!

This extraordinary country property is located in the North Sacramento Valley, 20 minutes North of the Jet Airport and downtown Chico, CA, 8 minutes to I-5, 5 minutes to the Sacramento River.

The Main Residence is approximately 2,904 sq. ft. with 3 bedrooms and 2 baths and large office on the second floor loft. The detached guest unit is self-sufficient with a living, dining, kitchenette, bath & bedroom.

Take a boat out on the pond, hunt on the adjacent 200+ acre wildlife refuge, enjoy the pool & sauna, or just relax on the balcony and enjoy the sounds of nature. love to fish? Take in world-class fishing (including launch ramp)on the Sacramento River only 5 minutes away!

Great retreat from city life!

Offered by Clint and Mindy Cronic of Next Generation Real Estate Services, DRE License #s 01314114 and 01458166.

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For more Redding information click here to visit our main Redding Blog, www.ReddingBlogs.com for everything Redding!

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Mobile Ads Benefit Buyers and Sellers

RISMEDIA, October 12, 2010—Earlier this year, a lot of attention was drawn to the world of mobile technology and mobile advertising, in particular when both Google and Apple decided to ramp up their mobile advertising businesses. In January, Apple bought mobile advertising company Quattro for $275 million. A couple months later, Google completed a highly scrutinized purchase of Quattro rival and industry-leading mobile advertising company AdMob for $750 million.

While numerous reports from industry analysts show that mobile advertising dollars pale in comparison to dollars spent on traditional online advertising, an equal—if not, greater—number of reports speculate that mobile ad spending will increase exponentially over the coming years to the tune of tens of billions of dollars. Regardless of the dollar amount, one thing is certain: mobile advertising within the mobile technology currently being used in real estate can provide tremendous benefits to both buyers and sellers.

Now, I know what you’re thinking: “I do not want to be inundated with any more advertisements than I already am;” and I can appreciate that. However, when you step back and take a deeper look, mobile advertising has the ability to be much more relevant than the traditional pop-up and banner ads you’re used to seeing online. In addition, as more advertisements find their way into cutting-edge mobile marketing technologies, the cost of those technologies to the end user can be dramatically reduced.

Let’s first look at the latter of the two scenarios. It is no secret that real estate consumers are turning to their mobile devices for more information than ever before and property information is no exception. The mass adoption of text messaging lead-generation services, mobile websites and applications has yet to come to fruition due to the cost of services like this. However, we have already seen providers significantly reduce the cost of text messaging lead-generation services when the user allows them to be ad supported. Ads from large national retailers and big box consumer goods companies, such as Best Buy or DirecTV, tend not to offend either the user or consumer. The more targeted the ads become to real estate, the more subsidized these services will become for real estate agents who opt-in to receive and participate in programs with such ads.

On the consumer side, mobile advertising is not only more relevant, but much less intrusive. Ads can be either simple text within text messages and/or banner ads on a mobile website. Furthermore, serving ads to the mobile device presents the advertiser with the ability to give you geographic and time-sensitive offers that are more valuable to you as a consumer. Because you are on a mobile device and inherently mobile, advertisers can serve time-sensitive ads with greater discounts and drive you to the nearest store locations using the GPS on your mobile device. Lastly, with specific demographics, such as advertisements within real estate mobile marketing programs, advertisers can serve ads that are specific to the home-buying/-selling demographic such as home improvement needs.

In closing, mobile advertising will soon be seen within the real estate space and the mobile marketing programs currently available. While, at first glance, it can seem like just another way for advertisers to brainwash us, with a deeper look, you can see that mobile advertising presents more benefits than most all other forms of advertising on both sides. Welcome mobile ads and leverage the mobile marketing technologies they are incorporated in to make more money for your business.

Seth Kaplan is president of Mobile Real Estate ID.

For more information, visit www.mobilerealestateid.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Don’t miss these headlines on RISMedia.com:
HUD Offers $110 Million in Grants to Clean Up Lead Hazards
Growing Number of Homeowners Becoming Landlords

For more Redding information click here to visit our main Redding Blog, www.ReddingBlogs.com for everything Redding!

FacebookTwitterGoogle+Share

Mobile Ads Benefit Buyers and Sellers

RISMEDIA, October 12, 2010—Earlier this year, a lot of attention was drawn to the world of mobile technology and mobile advertising, in particular when both Google and Apple decided to ramp up their mobile advertising businesses. In January, Apple bought mobile advertising company Quattro for $275 million. A couple months later, Google completed a highly scrutinized purchase of Quattro rival and industry-leading mobile advertising company AdMob for $750 million.

While numerous reports from industry analysts show that mobile advertising dollars pale in comparison to dollars spent on traditional online advertising, an equal—if not, greater—number of reports speculate that mobile ad spending will increase exponentially over the coming years to the tune of tens of billions of dollars. Regardless of the dollar amount, one thing is certain: mobile advertising within the mobile technology currently being used in real estate can provide tremendous benefits to both buyers and sellers.

Now, I know what you’re thinking: “I do not want to be inundated with any more advertisements than I already am;” and I can appreciate that. However, when you step back and take a deeper look, mobile advertising has the ability to be much more relevant than the traditional pop-up and banner ads you’re used to seeing online. In addition, as more advertisements find their way into cutting-edge mobile marketing technologies, the cost of those technologies to the end user can be dramatically reduced.

Let’s first look at the latter of the two scenarios. It is no secret that real estate consumers are turning to their mobile devices for more information than ever before and property information is no exception. The mass adoption of text messaging lead-generation services, mobile websites and applications has yet to come to fruition due to the cost of services like this. However, we have already seen providers significantly reduce the cost of text messaging lead-generation services when the user allows them to be ad supported. Ads from large national retailers and big box consumer goods companies, such as Best Buy or DirecTV, tend not to offend either the user or consumer. The more targeted the ads become to real estate, the more subsidized these services will become for real estate agents who opt-in to receive and participate in programs with such ads.

On the consumer side, mobile advertising is not only more relevant, but much less intrusive. Ads can be either simple text within text messages and/or banner ads on a mobile website. Furthermore, serving ads to the mobile device presents the advertiser with the ability to give you geographic and time-sensitive offers that are more valuable to you as a consumer. Because you are on a mobile device and inherently mobile, advertisers can serve time-sensitive ads with greater discounts and drive you to the nearest store locations using the GPS on your mobile device. Lastly, with specific demographics, such as advertisements within real estate mobile marketing programs, advertisers can serve ads that are specific to the home-buying/-selling demographic such as home improvement needs.

In closing, mobile advertising will soon be seen within the real estate space and the mobile marketing programs currently available. While, at first glance, it can seem like just another way for advertisers to brainwash us, with a deeper look, you can see that mobile advertising presents more benefits than most all other forms of advertising on both sides. Welcome mobile ads and leverage the mobile marketing technologies they are incorporated in to make more money for your business.

Seth Kaplan is president of Mobile Real Estate ID.

For more information, visit www.mobilerealestateid.com.

RISMedia welcomes your questions and comments. Send your e-mail to: realestatemagazinefeedback@rismedia.com.

Have you heard about RISMedia’s Real Estate Information Network® (RREIN)? RREIN is an elite network of leading real estate companies dedicated to providing consumers and their agents with leading real estate information, and committed to the belief that Information Share Equals Market Share. Having only launched this past June 2010, the RREIN network is already comprised of 30 leading brokerages, which make up 525 offices, 30,000 agents, 160,000 closings and represents over $40 billion in transactions. How can RREIN help your recruiting efforts and differentiate your company today? For more information, email rrein@rismedia.com.

Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Don’t miss these headlines on RISMedia.com:
HUD Offers $110 Million in Grants to Clean Up Lead Hazards
Growing Number of Homeowners Becoming Landlords

For more Redding information click here to visit our main Redding Blog, www.ReddingBlogs.com for everything Redding!

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