Redding Real Estate

What If I Stop Paying My Mortgage?

November 8th, 2009

By Brad Garbutt

Many homeowners across the nation, particularly those that owe more than their home is worth in today’s market, are asking themselves this question before making their monthly mortgage payment. Here is a time line of what to expect:

Expect your lender to report your missed payment to credit bureaus by the first day of the following month.
The [...]

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Redding Home Prices Dip In October

November 3rd, 2009

By Brad Garbutt

For most of this year, Redding home prices have hovered around $135 per square foot but dipped to $129 in October. These averages are for Redding only and do not represent Anderson, Shasta Lake or Shasta County. The average home price dropped accordingly to $212,988, about $30,000 less than the 2nd quarter average of $244,718.
On [...]

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Shasta County Real Estate Fraud Cases Discussed

October 22nd, 2009

By Brad Garbutt

Robert Angulo is the investigator recently assigned by the DA’s office to handle real estate related crimes. Robert spoke to a group at the Shasta Association of Realtors weekly meeting Wednesday. The real estate fraud unit has been up and running for just a few months and is already handling 31 cases. Here is a [...]

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California Real Estate Law Changes Highlighted

October 21st, 2009

By Brad Garbutt

The first half of the 2-year legislative session is in the books and here is a summary of new laws that impact those involved with real estate transactions:

Buyers of REO’s (foreclosures) can choose the escrow or title company. Prior to October 11, 2009 REO lenders routinely dictated where the escrow would be handled. Breaking this [...]

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Banks Eat Loan Principal To Help Borrowers In Trouble

October 13th, 2009

By Brad Garbutt

Borrowers seeking loan modifications are more likely to get a bank to agree to reducing the outstanding loan balance today than earlier this year. The rate of reducing the principal as part of a loan modification has more than tripled from 3.1% to 10% from the first to second quarters of 2009.
According to a new report [...]

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Redding 3rd Quarter Home Stats

October 7th, 2009

By Brad Garbutt

Home values in Redding continue to bounce up and down indicating the market is still searching for a bottom. Home prices averaged $233,500 in the first quarter, then up to $244,700 in the second quarter but down to $232,900 for the quarter that ended in September. The average square footage for a home in Redding [...]

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State Bar Publishes List Of Attorneys Under Investigation

September 30th, 2009

By Brad Garbutt

In a rare move by the State Bar Association of California, a list of attorneys under investigation for misconduct relating to loan modification programs has been released. Typically, the association that is responsible for policing its own ranks refrains from publishing attorneys names in trouble until they have had due process and been disbarred.
According to [...]

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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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