The REAL secrets behind Home Staging!

Home StagingNearly everyone these days has been watching the TV shows on HGTV…”Design on a Dime”, “Buy Me”, “Color Splash”…or even the latest “The Stagers”.  We’ve learned how to make our homes look like a million bucks for next to nothing for actually living in them but is this the best advice for a future home seller?

No.  Staging is not the same as creating a usable space that you will enjoy.  Instead, staging is the art of making your home appealing to the masses (or as many people as possible) instead of for you.  True home staging doesn’t address the issues of comfort and usability…instead, it address the best way to make the rooms look the largest by increasing the open floor space. 

Whether it is elimination of extra furniture (ie side tables, floor pillows, large bulky furniture and replacing them with smaller furniture and larger art work, mirrors (to enlarge rooms) and wall decor.  By picking items up off the floor and making the walls tell the story the rooms visually are larger and more open. 

Creating an atmosphere viod of overly-dramatic details (deep colored walls, etc.) can help more people imagine themselves living in the space and helps them to avoid the feeling that there is much work (painting, repairs) that would have to be done before they move in.  These changes equal $$$$ and that decreases potential offer prices should an offer be made.

Neutral color palattes are the rage for home sellers…browns, beiges, light colors that reflect light and enlarge spaces as well as spaced furniture that maximizes window views, fireplaces…any focal point.  So what should you do to start?  Focus on the overall look of your room.  Eliminate those “trinkets” with sentimental value (often they don’t add to the appeal but detract from it)…remove the items that are bulky and serve a specific purpose for you but aren’t needed in the room to show it (ie CD storage, small tables, computer desk, etc.  Paint the room a light and airy color and pull blinds up for showings to add light to the room. 

Remember, if all else fails, call a neutral third party to suggest changes that you wouldn’t have thought of yourself!  It is best to not be a friend/family member as they can foster feelings about certain objects. If you are in the Shasta/Tehama County areas, we’d be glad to help you!  Just call us at 530.227.0345! 

HAPPY STAGING!

Clint & Mindy Cronic are Realtors with Real Estate Professionals, GMAC in Redding, California.  If you are thinking of listing or buying a home contact us today for our aggressive marketing package or comprehensive buyer services VIP program!  530.227.0345 or contactus@sellingredding.com

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Shasta County Home Sales Update

redding home salesWell most people reading the local newspaper, The Record Searchlight, couldn’t miss the front page article yesterday about the local housing market in contrast to the economy crisis nationwide. 

According to DataQuick Information Systems the median sales price in Shasta County was $212,750 for new and resale homes which is down from $225,000 in August and $253,000 in September 2007.  This data puts median home prices in Shasta County  29% below our highest peak in 2006 at $300,000.  The numbers that we are seeing now are more indicitive of 2004 sales prices (as the median sales price was $190,000 in April 2004).  Althouh meidan prices are down, DataQuick also reported that 168 homes were sold in Shasta County in September, a 7.7 percent increase from a year ago. For more information on our local real estate market visit our Real Estate Blog.

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Redding Real Estate Statistics 10/13/08

Image of houseResidential Listings:  There are currently 1746 active listings and another 384 listings that are pending (in escrow).  Two weeks ago there were 1877 active listings with another 368 in escrow which was up from 1,702 active listings 4 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
  • 186 closed escrows in August 2008
  • 177 closed escrows in September 2008
  • So far there have been 41 closed escrows in October 2008 

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 1476 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! 

If you are buying a home we’d love to help you find the home of your dreams.  Whether you are buying in 2 days or 2 years we can help you from relocation information, school data or neighborhood demographics to loan prequalification, previewing homes or sending virtual tours! 

Contact Clint and Mindy Cronic at Real Estate Professionals, GMAC 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 Update 9/3/08

Image of houseResidential Listings:  There are currently 1877 active listings and another 368 listings that are pending (in escrow).  Last week there were 1893 active listings with another 376 in escrow which was up from 1,702 active listings 3 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
  • 186 closed escrows in August 2008
  • So far in September 2008 there have been 2 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 1250 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 Clint and Mindy Cronic at Real Estate Professionals, GMAC today at 530.227.0345 for more information on how our agressive marketing strategy can SELL your home!

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Home Loans for Redding, CA

Sommer Mouser, Bank of America Mortgage in Redding, CA

 

My name is Sommer Mouser with Bank of America Mortgage in Redding. I’ll be sharing information on the most current mortgage trends- what products are currently working well, what new ones come along, where rates are, ideas to save you money now and in the long run. 

 

 

 

 

Here’s my contact information:
Sommer Mouser, Bank of America Mortgage
1661 East Street
Redding, Ca 96001
530-305-4241

To prequalify for a loan or learn more about buying a home visit my website

 

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Redding Real Estate Market Statistics

Residential Listings:  There are currently 1893 active listings and another 376 listings that are pending (in escrow).  Last week there were 1886 active listings with another 393 in escrow which was up from 1,702 active listings 3 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 150 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 1212 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 Clint and Mindy Cronic at Real Estate Professionals, GMAC today at 530.227.0345 for more information on how our agressive marketing strategy can SELL your home!

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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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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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Short Sale Versus REO? What does it all mean?

Well we have been working with many clients lately that have been interested in Short Sales or REO’s.  I’d like to explain the difference as most people coming to us don’t really understand exactly what each is.

A short sale is a property that is being sold “SHORT” of the amount owed on it.  This means that if you submit an offer on a home that is a short sale the seller (owner) would approve the offer and then send it to the bank that they have their loan through for final approval.  The bank has the ultimate authority for approval and if they don’t approve the offer amount and counter offers are not successful then if no other offers are successful the home would be sold back to the bank after the Notice of Default for non-payment is made and a sale date is created at the courthouse steps.  Remember, if you are writing an offer on a short sale the approval time can be VERY lengthy.  By this I mean that we have had some short sales that were not approved for 4 months.  What we generally would do is submit the offer and continue to look at all new listings that come onto the market in case something better comes along for our clients. 

An REO (bank owned, foreclosure) is “Real estate owned” by the bank.  This means a notice of default was filed when the owner stopped making payments.  After a specified time a sale date was created and the home was sold back to the bank at the courthouse steps.  The bank then has complete possession of the property and vacates the previous owner (if needed) and turns the listing over to a real estate agent to list.  Banks generally have a fairly quick response time (1 day to 8 days usually in our area) and are usually listing their homes near or at fair market value.  We’ve found that new listings aren’t usually too open for negotiation but around the 30 day mark the banks usually negotiate more (but there are ALWAYS exceptions to this). 

So, if you are thinking of purchasing a short sale or REO home we’d love the opportunity to assist you!  Just call us at 530.227.0345 or visit our website at www.sellingredding.com

You can always search the entire MLS at www.sellingredding.com/selectmlstosearch.htm

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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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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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The REAL Redding Real Estate Market…

For those that want to know EXACTLY what our local real estate market in and around Redding, CA is up to…the chart below is your answer!  This table contains straight statistics from the Shasta Board of Realtors MLS database. 

New Listings Active Listings Sold Listings Months Inventory
Feb/2008 561 3,525 163 21.63
Jan/2008 613 3,610 150 24.07
Dec/2007 368 3,881 167 23.24
Nov/2007 483 4,072 171 23.81
Oct/2007 583 4,267 228 18.71
Sep/2007 613 4,343 193 22.50
Aug/2007 822 4,321 292 14.80
Jul/2007 793 4,271 239 17.87
Jun/2007 912 4,104 312 13.15
May/2007 881 3,897 286 13.63
Apr/2007 975 3,694 273 13.53
Mar/2007 836 3,425 293 11.69
Feb/2007 697 3,363 241 13.95
Jan/2007 810 3,217 204 15.77
Dec/2006 486 3,448 288 11.97
Nov/2006 480 3,678 239 15.39
Oct/2006 703 3,750 269 13.94
Sep/2006 744 3,798 265 14.33
Aug/2006 958 3,740 295 12.68
Jul/2006 919 3,470 293 11.84
Jun/2006 988 3,258 358 9.10
May/2006 1,045 2,963 322 9.20
Apr/2006 746 2,666 289 9.22
Mar/2006 852 2,459 308 7.98

What does this table really mean??? First, let’s learn the table.  To begin, this data represents every listing in the MLS…regardless of type (residential, vacant land, etc.) and could potentially include some duplicate listings. 

The “New Listings” category shows just that-all new listings taken during that month.  “Active Listings” are listings that were available for purchase or active at the end of the month.  “Sold Listings” are listings that actually closed escrow during the month or were technically sold. 

The most interesting category to look at, especially if you are a home seller is the “Months Inventory”.  Months inventory is, if NO NEW LISTINGS were added to the MLS after that month, how many months it would take for all listings available in the MLS to sell.  This category is so important because it can help you to see the detrimental effect of not pricing your home correctly and ahead of the market to begin with.  Historical data shows that if you are not listed within the top 10-20% of the listings comparable to yours you will quickly fall under the curve of the market and have to do more (and major) reductions to get back “into the market”. 

Real estate lecturers have said that they see 2 types of sellers, the 20% that are “in” the market with a fair or great price that is likely to see offers and the other 80% that have priced themselves “out” of the market and won’t likely see any offers during their listing period. Utilize this data to understand what type of listing YOU are.  Ensure that you are receiving accurate up-to-date market data and that you are within that 10-20% so that you may see an offer quickly!

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Redding Real Estate – 3/10/08

Today’s local real estate market update, straight from the Shasta MLS database:

  • Residential Listings:  There are 1,650 active listings and another 350 listings that are pending (in escrow).  Year-to-date during 2008 we have had 245 listings that have sold (closed escrow) and so far in March we have had 24 sold listings.  Overall statistic for the year 2007: there were 2, 140 listings that sold (closed escrow) and were recorded in the MLS database.  

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Redding Real Estate – 3/2/08

Today’s local Redding and Shasta County real estate market update, straight from the Shasta MLS database:

  • Residential Listings: (Down 27 listings from 2 weeks ago)  There are 1,654 active listings and another 332 listings (up 47 listings from 2 weeks ago) that are pending (in escrow).  Year-to-date during 2008 we have had 209 listings that have sold (closed escrow) and of those, 101 sold during February.  Overall statistic for the year 2007: there were 2, 140 listings that sold (closed escrow) and were recorded in the MLS database.   
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