Author Archive
Need Help From Foreclosure Prevention Company?
August 27th, 2010
By Brad Garbutt
Fannie Mae launched a website this month to assist underwater borrowersincluding those in Redding/Shasta County. The site offers advice on steps to take to avoid foreclosure as well as directing borrowers to legitimate companies that provide foreclosure-prevention services. This is in response to a proliferation of companies claiming to offer foreclosure prevention services. In many cases, these [...]
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Need To Refinance An Underwater Loan?
August 13th, 2010
By Brad Garbutt
FHA just announced a new loan program for homeowners that owe more than the current market value for their home. In less than a month, the FHA Short Refinance program will enable some borrowers who owe more than the current market value of their home to qualify for a new FHA insued mortgage. Here are some important [...]
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Redding Home Prices Slip Again?
August 9th, 2010
By Brad Garbutt
After 3 quarters of relative stability, Redding home prices lost about $8/sq ft in July. Blame an onslaughtof bank-owned properties (REO’s) for the decline. The second quarter of 2010 saw a slight increase to $126.54/sq ft from $125.34 in the first quarter 2010. The last quarter of 2009 pegged the average cost per square foot at [...]
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Do You Know Your Redding Home’s Walkability Score?
July 9th, 2010
By Brad Garbutt
Location, location, location is taking on a new meaning in the 21st century as home buyers switch from focusing on schools and neighborhoods to proximity to stores and public transportation. Urban planners cite concerns over future oil prices as the main reason for the shift. They say baby boomers with empty nests and their children [...]
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Majority Of Californians Willing To Pay More Taxes?
July 6th, 2010
By Brad Garbutt
Apparently so according to the California Taxpayers Association(Cal Tax) reporting on recent election victories for bonds, hotel, parcel, sales and utility taxes. 44 of 64 local tax measures passed on the June 8 ballot with three more remaining too close to call. Based on these results, expect more cities up and down the state to place [...]
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City of Redding:Know Your Hispanic Gangs?
June 22nd, 2010
By Brad Garbutt
Top City of Redding officials want city employees to be on the lookout for signs of gang activity following several recent highly publicized gang incidents in the Redding area. An internal communication memo sent out last week asks city employees to keep their eyes open for gang-related activity since many employees are out and about the [...]
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Unscrupulos Interests Blamed For Housing Market Meltdown
June 11th, 2010
By Brad Garbutt
Henry Cisneros pinned the housing crisis on greedy Wall Street firms, not government policies he championed as HUD Secretary during the Clinton Administration. Exotic instruments were created to collateralize mortgages then packaged and sold around the world by profiteers wishing to take advantage of the housing boom. Henry is credited with expanding homeownership during his term as [...]
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Redding Real Estate Prices Stabilizing?
June 7th, 2010
By Brad Garbutt
According to one Redding appraiser who tracks average home prices, prices are slowly ticking upward. The low point since the bubble burst in 2006 was March with 91 home sales with an average sales price of $203,830 or $121.08 per square foot. May saw 99 home sales averaging $214,352 or $124.6 per square foot. It would not [...]
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