Redding Real Estate

Inventory Of Bank Repo’s On The Rise

December 21st, 2009

By Brad Garbutt

Shasta County has thus far absorbed the onslaught of bank foreclosed homes until just recently. I’ve tracked the number of REO’s (real estate owned), as they are called in real estate jargon, for the past year and the number of these avaiable homes has been relatively stable until Halloween. November marked the beginnining of a steady rise in [...]

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Local Realtors Give Back To Community

December 14th, 2009

By Brad Garbutt

The Shasta Association of Realtors sponsor several events this month focused on giving back to the community. Two weeks ago dozens of phone cards were given to local US Army representatives to send to troops in Afghanistan so they can call home for the holidays. Realtors and affiliate members including lenders, title companies and appraisers raised money [...]

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November Home Sales Dip In Redding

December 7th, 2009

By Brad Garbutt

As expected, the number of homes sold in November declined after two months of sales increases as first-time buyers bought before knowing the federal tax credit would be extended. 163 homes sold in November, up slightly from 152 during the same period of 2008.  84% of these homes sold were priced below $300,000.
Sales and listing activity slows during the holiday [...]

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Realtor Christmas Light Contest Near

December 1st, 2009

By Brad Garbutt

Judging begins next week for the annual Realtor sponsored Christmas Light contest. Homeowners that have decked out their yards for the holidays can enter to win cash prizes.  Call the Shasta Association of Realtors for details and entry form. The first round of judging will take place Monday December 7th.
Several judging teams fan out across the [...]

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Redding Real Estate Market Update

November 24th, 2009

By Brad Garbutt

Last year about 1/3 of all homes sold fell in the distress sale category. This year that number has increased to 44%-no big surprise. Next year expect half of all sales to be distressed sales-either bank foreclosures (REO’s) or short sales. So far, 1792 homes have closed escrow on the Shasta MLS for 2009 of [...]

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Home Remodeling On The Cheap

November 23rd, 2009

By Brad Garbutt

One side effect of the housing meltdown is plenty of out of work contractors willing to work for less just to pay the bills. A recent article in the Wall Street Journal estimates “remodeling prices are down 5% to 10% across the U.S. from their peak”. I would venture to say that number is even higher in the North [...]

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Key Indicators Home Values Will Increase Highlighted

November 19th, 2009

By Brad Garbutt

Snippets of news cautiously point to positive economic signs indicating the bottom of the real estate market is here. However, an article in Smart Money takes these generalizations a bit further suggesting there are six signs a home you are considering buying is about to rise in value. Here they are:

Unemployment Rate-Common sense, higher unemployment, less potential [...]

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Fannie Mae Offers Foreclosure, Lease-Back Option

November 17th, 2009

By Brad Garbutt

Last week, Fannie Mae announced a new program targeting borrowers that can no longer afford their home. In exchange for expediting the foreclosure process the borrower is offered the right to lease back the home for up to a year. This allows the lender to avoid the more costly and time consuming traditional foreclosure process while the borrower gets to stay [...]

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