Home inventory is going down and sales activity is going up! That is great news for the Shasta County real estate market. Anything under $200,000 sells...that seems to be where the buyers are. This is primarily due in part to the First Time Home Buyer Tax Credit which was recently extended through 2010. For those that waited "until prices come down", their patience was well worth it!
The average days on the market for homes in the Redding, CA area are around 130 days. Almost 50% of our unsold inventory is a foreclosed property or pre-foreclosure (short-sale). Homeowners who have not been able to sell are being challenged by these rock-bottom, foreclosure properties.
Have we hit bottom? It depends who you ask. The local news-reporter will say one thing, while the local real estate agent will say another which will be entirely different from what a home-buyer or home-seller will say. One thing is for sure, it will take many years before we will begin to see double-digit appreciation on home values, California (and Redding for that matter) was out of control. We were past due for some correction and equilibrium of the market. Personally, we're keeping our eyes on unemployment and consumer confidence indexes. It's simple really, low unemployment means confident consumers, which equals more home purchases. The truth is, Redding is still facing double-digit unemployment rates, almost 15% as of October 2009, more than doubled from 2005 numbers when it was 6-7%.
For regular updates on our local market, follow us on twitter or visit our website at ShastaLiving.com.
This is a list of "tough truths" for some homeowners out there that REALLY want to sell their house or MUST sell their house but so often do not take the advise of their real estate professional. I recently came across this list and decided it was too good not to share...
1. Access Easy access to the property is key to selling it. Your place must be ready to show and easily accessible for buyers and their agents. Signs must be properly and clearly placed in front of the home, along with directional signs when necessary. All agents should utilize the MLS Lockbox system. There must be a MLS lockbox on or near the door. Buyers and their agents will not waste time trying to find hidden properties. Buyers will move onto the next property of their tour. This happens quiet often, especially when there's so many properties to chose from.
2. Setting the asking price too high Places sell for what the market brings, not what you want/need to get for your home. A lot of sellers are underwater these days. To price your property appropriately, find out what comparable homes in the area sold for and how long they stayed on the market. You also want to look at expired and cancelled listings to see what couldn't sell in your neighborhood or condo complex. Buyers look in search increments - so if you price a $500,000 house at $512,500 you might be missing all of the buyers looking up to $500,000 in their search. You have to lower your price if you are not getting the proper amount of showings. If you are getting no showings - you are overpriced if your house/condo is otherwise in normal condition. I'll add too, if you're getting a lot of showings but no offers, and showing have slowed down, chances are you are overpriced.
3. Going with the wrong Real Estate Agent You need an experienced real estate agent who knows the fundamentals of real estate, as well as what's going on in the market at all times. Look for an agent whose primary job is real estate - he or she should be familiar with the business and the area you're interested in. More experienced agents are accustomed to handling multiple transactions and tend to have superior negations skills. Most importantly, you should feel comfortable with your agent. You don't want to be rushed or coerced into anything, so trust your gut. My personal advise is, get referrals! Talk to recent customers who have used this particular agent and if necessary, ask them for a copy of the past 12 month's sales (or longer).
4. Not fixing up your property prior to listing it Home buyers like "move in ready" places. They generally don't like the idea of living in a construction zone when they buy a new home. Make necessary repairs prior to listing and don't underestimate the value of a fresh coat of paint. Choose neutral colors, but nothing too sterile. You will generate more buyer interest with well chosen colors, applied over properly prepared walls. New construction sells well for a reason. You need to make your place shine! When competition is high, it's the little things that will set your hope apart!
5. Staging Buyers need to see that ‘model home' to be wowed! To start with, remove all unnecessary items, including excess furniture and any fixtures that will not be included in the sale. If your home isn't vacant, rent a storage unit - almost every home shows better with less furniture. Empty out closets, cabinets and drawers as much as possible. Buyers have a tendency to investigate every inch of a property, so organize those items you do keep in the home. Neatly stack dishes, clothes and any other personal belongings. Also, remove all clutter and personal artifacts, such as family photographs. Allow the buyers to see themselves in the home by making it generic.
6. Pictures, pictures, pictures These days, the vast majority of home searches begin online and listings without photographs are often ignored. Buyers are visual, so you need to have at least ten great photos of the property. Don't forget to "stage" all your photos, indoors and outdoors. The exterior pictures will be much more appealing without cars, toys and other debris in the shot. Mow the lawn, trim the bushes and be sure to include pictures of the yard. For interior shots, use lots of light and emphasize space. People will email their friends and Realtor a listing from the Internet and it must present itself well through the pictures. We say "location is everything" in real estate, well..."pictures are everything" for buyers!
7. Marketing Marketing is now Internet based. Online ads can be created instantly and updated as often as necessary. Internet advertising reaches the greatest number of people in the shortest amount of time. Postcards work, signs work, but the internet is key. Don't get worried about newspaper ads - they don't work. Repeat - newspaper ads don't work and newspaper companies are struggling for a reason. Nuff said!
8. Taking offense at offers. Home buying is one of last great bastions of haggling in the U.S. Now, more than ever, buyers are testing the waters to see how low they can go. Everyone wants a great deal and the possibility of a lowball offer is a reality. Rather than turning your nose at what you think is a low bid, take the offer seriously and present a realistic counter offer. That way, you can spark a real negotiation. Many times these "low ballers" are just testing you, if they really love the house they'll try to meet your counter-offer.
For tourist information and much more about Redding, CA you can also visit; ReddingChamber.com
ShopRedding.com is a part of theShopCity.com local web network. They provide a simple and easy way for local shoppers to connect with local businesses in Redding, California.
For local shoppers they provide tools and services that allow you to find the best deal and make informed choices as to where to shop in your local community. Whether you want to find a business' contact details, search for the best deals in your community, see what other people think about businesses through reviews, sell stuff through classifieds and more - ShopRedding.com is a great place to connect with local businesses and shop locally in Redding, California.
We are really exited about this website and its convenience to all shoppers.
The countdown to the 2010 Census has begun, and the U.S. Census Bureau is looking to the community to ensure an accurate count. Census day is on April 1, 2010, therefore it is extremely important that people are aware and ready to participate, ensuring the accuracy of the data. The 2010 Census will have one of the shortest census questionnaires in the history of the United States, dating back to the nation's first census in 1790; it will focus on questions such as name, gender, age, race, ethnicity, relationship and whether the householder owns or rents their home. They are hoping by making the form easier and less tedious, more participants will be willing to take the 10 minutes complete the questionnaire. The Bureau wants to stress that all answers are protected by law and strictly confidential.
Some of the main reasons residents should be aware of the 2010 Census :
• The federal government uses census numbers to allocate more than $300 billion in federal funds annually for community programs and services, such as education, housing and community development, health care services for the elderly, job training and more.
• State, local and tribal governments use census information for planning and allocating funds for new school construction, libraries and other public buildings, highway safety and public transportation systems, new roads and bridges, location of police and fire departments, and many other projects.
• Community organizations use census information to develop social service programs, community action projects, senior lunch programs and child-care centers.
• The numbers help businesses identify where to locate factories, shopping centers, movie theaters, banks and offices - activities that often lead to new jobs.
• The census totals are used to determine how many seats each state will have in the U.S. House of Representatives (Extremely Important!)
Be a part of this revolutionizing event and help keep the data and information accurate so the United States can better help serve you!
For more information about the 2010 Census visit www.census.gov/2010census or Contact: Public Information Office (301) 763-3691, (301) 763-3762, or facsimile (301) 457-1037. E-mail: pio@census.gov
Re Post:Michael Caruso: http://activerain.com/blogsview/1300348/it-s-census-time
Hello everyone, and thanks again for visiting “Blogging About Redding”. As most of you already know, we are in October which means “Breast Cancer Awareness Month”. On Thursday the 15th was a day where many cities and communities came together on behalf of Think Pink Breast Cancer Awareness Day, and Redding, CA wasn’t the exception!
Besides the many activities that were happening around town that day, the biggest and most visible was on our very own Sundial Bridge. Check out this video!
From www.redding.com:
Hundreds of people strolled the Sundial Bridge tonight to see the Redding landmark bathed in a pinkish glow for Think Pink Breast Cancer Awareness Day.
“It’s pretty cool. It’s totally different,” Redding resident and Shasta Photo Club member Aaron Patterson said after lugging his camera equipment from the bank of the Sacramento River.
Patterson and many others brought their cameras to take pictures of the Sundial Bridge, which was illuminated in pink for breast-cancer awareness. The outline of a pink ribbon gleamed on one side of the bridge.
Morpheus Lighting of Redding had placed gel filters over the bridge’s lights to give the span its special hue. The pink lights were due to be turned off at 10 p.m.
Earlier today, Nor-Cal Think Pink organizers distributed about 40,000 bags containing breast cancer information and handed out pink carnations throughout the north state to bring attention to their cause, Think Pink coordinator Erika Wiechman said.
Photo by Greg Barnette:
The Sundial Bridge at Turtle Bay Exploration Park in Redding is illuminated in pink light Thursday night for the 13th annual Think Pink Breast Cancer Awareness Day.
Here is some great information I came across on our website and wanted to share it again; www.coldwellbanker.com
When is the best time to buy a house? With many markets reporting an abundance of homes for sale, and interest rates remaining at near historic lows, now might be one of the best times in recent memory. While today's real estate market does offer advantages to buyers, consumers still need to be savvy in order to get the best deal they can.
Following are some valuable home buying information that the professionals at Coldwell Banker Real Estate LLC think every homebuyer should keep in mind:
Don't Try to Time the Market. When home prices are lower, it is very tempting for potential buyers to try to wait as long as possible in the hopes that prices will decline even further. This strategy can be detrimental because when there is high inventory, smart sellers price their homes properly - not according to past sales but according to current conditions - so their homes will sell in a timely fashion. Once a home is priced to what the current market will bear, buyers will make offers.
Shop Around. But Don't Wait Too Long. The National Association of REALTORS reports that homes are staying on the market for several months. Recent increased inventory gives homebuyers a great opportunity to compare homes that meet their needs. However, this does not mean that homebuyers should procrastinate.If you find a house you love, put in your bid and negotiate. Don't provide an opportunity for another buyer to make an offer.
Watch Mortgage Rates. As of early 2009, mortgage rates were continuing to fall to historic lows. This presents a strong opportunity to enter the real estate market, particularly for first time homebuyers who have no need to sell another home. Simple mortgage calculators widely available online can help you determine just how much you will pay per month, based on a given rate. For example, a monthly payment on a 30-year fixed 5.875 mortgage rate on a 300,000 loan will be $1,774.61.
Negotiate on the Incentives. Sellers eager to move may offer you a variety of incentives such as cars, trips, furnishings and even credit card bill payment. If you accept an incentive, make sure it makes sense for you. Instead of having your bills paid, you may opt to have the seller renovate the master bathroom or install new flooring. Of course, you can always ask the seller to simply deduct the amount in question from the list price.
cb1266 Exceptional, move-in ready home in Manor Crest subdivision. Split floor plan, 3BR/2BA with an office, tile flooring, vaulted ceilings, whole-house fan, fireplace, huge one acre lot, very nice cul-de-sac property with great curb appeal! Quality stucco, extensive concrete driveway, underground utilities, 3 car garage and lots of RV parking. Well cared for by original owners.
cb2336 Enjoy a country drive to this beautiful ranchette home, 2x6 construction and almost 5 acres and an walnut orchard. Home features 4br, 3ba, a spacious office, recreation room and a formal dining room. Gorgeous back-yard, inground pool and a large workshop.
This show will have it all! Get ready for the winter with roofing materials, new appliances, flooring, kitchen remodels, windows, painting and so much more. If you live in the area, you know that this is the ideal time to plant and landscape since contractors and nurseries are generally less busy so you get the best deals. Maybe you been thinking about that beautiful stamped concrete you saw at a friend's house, perhaps you want to get rid of your tiled kitchen counter-tops and replace them with granite or you really want to put in a pool before next summer, a gazebo, you name it, this show will impress you.
Find everything you need for your house or yard at the show including:
Windows, doors or siding for your home
Complete bath and kitchen remodels
Carpeting and wood flooring
Tile or granite counter-tops
Landscape architects and designers
Pool builders and refurbishing companies
Cooking demonstrations
High quality cookware and knives
Contractor referral services
Photography, mural artists, and artwork
Home theater and stereo systems
Alarm and security companies
Concrete overlays and deck companies
Fencing supplies and contractors
Pest control companies
The newest in home water purification
Hot tubs and barbecue islands
Do it yourself items to complete your projects on your own
The latest and greatest gadgets for around the house
...and everything else having to do with your home or garden!
ADMISSION IS $5.00 FOR ADULTS, $4 FOR SENIORS, CHILDREN 12 AND UNDER ARE FREE, AND FREE PARKING.
For information on our other events contact us at coolidgepr@aol.com or call 530-671-9600 ext.3
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Home inventory is going down and sales activity is going up! That is great news for the 
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