Redding Real Estate

Move Up Buyers Stymied By Slump In Housing Prices

June 15th, 2009

By Brad Garbutt

One key point made by Joel Singer, executive vice president of the California Association of Realtors, in last week’s mid-year economic forecast is the impact declining home prices may have on those wishing to move up to a larger home. Basically, the rapid and steep decline in home prices has wiped out home equity needed to [...]

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Renters Can Now Stay In Bank REO’s Longer

May 27th, 2009

By Brad Garbutt

Bona fide tenants now can remain in a home that has been foreclosed on for 90 days before having to vacate. This applies to the REO lender and/or the buyer of the home. Furthermore, if the tenant has a lease that extends beyond the 90 day period, the property owner must allow the tenant to [...]

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IRS and HUD Lock Horns Over Tax Credit

May 21st, 2009

By Brad Garbutt

Over the past week or so, the Department of Urban and Housing Development (HUD) has been working on a plan to allow buyers to use the $8,000 tax credit immediately to pay for their downpayment and closing costs. The Internal Revenue Service (IRS) has said not so fast.
Now HUD is pushing forward with their program and [...]

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Revised Fire Ratings Spike Insurance Rates

May 18th, 2009

By Brad Garbutt

A local insurance agent form AAA discussed changes in Shasta County fire ratings and the impact on insurance rates with a group of Realtors recently.  Fire districts are assigned a number between 1 and 10 which determines, in part, how much a homeowner will pay for a fire policy. The lower the number, the less you will pay for insurance.  Due [...]

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Foreclosure Flu Sickens Many

May 13th, 2009

By Brad Garbutt

Forget about swine flu or its proper name H1N1 flu, foreclosure flu is sweeping the country! What is it you ask? Any seasoned real estate agent can tell you stories about homes that never should have been placed up for sale. These homes will gag you before you swing the door fully open!
Every so often, I will show or [...]

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Mary Lake Beaver Mystery Continues

May 12th, 2009

By Brad Garbutt

I was surprised when journalist Ryan Sabalow of the Record Searchlight called to ask me if I heard the news regarding the suspicious deaths of 5 beavers in the past few months in Mary Lake. Apparently he found numerous posts I had on my blog regarding the life and times of Mary Lake’s beaver family. First, I didn’t know [...]

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Redding Home Prices May Have Hit Bottom

May 9th, 2009

By Brad Garbutt

A local appraiser pointed out the fact that the average cost per square foot for April was the same as the average for the first quarter of 2009. This could mean that prices have settled for now at $136/square foot. Heretofore, prices have steadily dropped since their peak in mid-2007.
These averages include a large number [...]

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Bidding Wars Igniting Redding Real Estate Market

May 6th, 2009

By Brad Garbutt

Whether I represent buyers or sellers, one thing is for certain: many buyers are bidding against one another to buy attractively priced homes in hopes of locking in a loan at historically low levels. This phenomena is sweeping the country including California, Redding and Shasta County.
Here’s why:

Inventory is shrinking in many markets. Some areas are [...]

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