Shasta County Category
Shadow Inventory Hangs Over Real Estate Market
January 8th, 2010
By Brad Garbutt
Experts have been trying to peg the number of foreclosed homes banks are sitting on while pondering when to list them for sale. Core Logic, a subsidiary of First American Title Insurance Company, estimated that number at 1.7 million as of September 2009, according to an article cited in a news release by the California Association [...]
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Shasta County Housing Market-A Year In Review
January 6th, 2010
By Brad Garbutt
Thankfully, 2009 is in the history books! It was a trying year for many in the housing industry. Real estate offices closed, escrow companies pared their staffs to the bones, lenders struggled with ever-tightening underwriting rules and appraisers are valuing properties conservatively after being blamed for overvaluing properties during the bubble. What follows are my tabulations of yearly [...]
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Digital Age Breeds Rudeness
January 4th, 2010
By Brad Garbutt
Am I the only one that notices rude behavior involving cell phones at public functions ? You know, phones ringing when someone is speaking at a podium, madly texting while others are eating or talking loudly on the phone while others are trying to listen to a presentation. Are matters so urgent they can’t wait a [...]
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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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