Shasta County Category
Scary Real Estate
October 2nd, 2009
By Brad Garbutt
Behind the crumbling brick buildings that line the main street in Old Shasta, on a wooded hill overlooking town, lies the Shasta Union Catholic Cemetery (now called Old Shasta Cemetery)Â with headstones, obelisks and iron fences surrounding family burial plots, dating back to the mid-eighteenth century. It was established in about 1849 and was one of [...]
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Timber Industry And Environment May Benefit From Green Push
October 1st, 2009
By Brad Garbutt
How do you put a smile on the face of a timberland owner and greenhouse gas generators at the same time? Carbon credits! The fact that trees trap carbon from the atmosphere provides forest property owners the opportunity to sell carbon credits to industrial emitters of greenhouse gases under a program implemented a couple years ago.  Environmentalists don’t think it’s a [...]
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Pension Forum Enlightening
September 29th, 2009
By Brad Garbutt
I was invited to listen to a distinguished panel examining many facets of public employee pension plans in California. The panel included representation from Shasta County, City of Redding, CalPers, labor negotiators and a taxpayer advocacy group. The panel was provided 10 questions in advance regarding pension issues and were all given an opportunity to respond. The [...]
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Trading Down May Hurt
September 26th, 2009
By Brad Garbutt
The new reality that currently exists in the marketplace favor move-up buyers more than trade-down buyers. The reason is demand is stronger at the low end of the market. Homeowners wishing to sell their larger, more expensive home so they can purchase a smaller, cheaper home will likely encounter two distinctly different markets.
In Redding, 92% [...]
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Home Price Declines Linked to Foreclosure Sales
September 24th, 2009
By Brad Garbutt
What seems obvious has been confirmed with market statistics published in an article in The Wall Street Journal. Those areas with the highest level of sales of REO’s also had the sharpest decline in home prices. Michigan, a state hard hit by the market downturn and the slumping auto industry, reported 64% of their home sales being [...]
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Home Again-A Place To Hang Your Hat
September 22nd, 2009
By Brad Garbutt
California property owners became accustomed to viewing their homes primarily as an investment and secondly, less importantly, a shelter to keep the elements at bay. Today, nearly 1 of 4 mortgages are “underwater”, meaning more is owed than the market will bear, causing many to re-evaluate home ownership.
Over the years I have tried to emphasize [...]
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Study Concludes Walkability Adds Value To Homes
September 15th, 2009
By Brad Garbutt
A recent report by Joe Cortright of Impresa, Inc concluded homes located in areas with above-average levels of walkability garner about $4,000-$34,000 more than houses with average levels of walkability. Walkablity is defined as those areas with a mix of common daily shopping and social destinations within a short distance.
Unfortunately, few, if any, Redding neighborhoods can claim [...]
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Redding Pending Sales Climb As Inventory Drops
September 1st, 2009
By Brad Garbutt
Redding home units eclipsed the 500 mark briefly before falling back to 497 today-levels not seen in more than three years! 2009 began with only 257 homes pending sale.  Listing inventory of active homes dropped to 1484 today, down from July’s peak of 1564. My data is derived from the Shasta MLS.
July saw 193 homes close escrow in the Greater Redding [...]
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