More news from the tax front for homeowners in distress.  Apparently, last week on Thursday the California Senate voted 21 to 15 to approve legislation that would prevent homeowners who have had a foreclosure, loan modification or short sale from being required to pay state income taxes on the debt forgiven.
The next step for the [...]

Did you know that out of 321 listings that have sold (closed escrow) since January 1, 2010, 136 of them were REO’s (Real Estate Owned By The Bank) or foreclosures? Yep, that is almost one in three homes that have sold so far this year!
Our current market has a large number of distress [...]

Updated Search!  We have now added the search capability for Anderson, CA and Shasta Lake City, CA.  The link below is the updated link.
The local government is giving up to $65,000 for you to buy a bank-owned home (foreclosure)???
There is a new program available in many areas of California, and Redding, CA and Shasta County are [...]

The local government is giving up to $65,000 for you to buy a bank-owned home (foreclosure)???
There is a new program available in many areas of California, and Redding, CA and Shasta County are no exceptions.  This program, called the Community Foreclosure Homebuyer Assistance Program (otherwise known as C4-HAP or C4HAP)  provides funding for homebuyers who need [...]

How many foreclosures do you think are currently “active” or available for purchase out of the 1,389 residential listings available on the Shasta MLS?  Think about it for a while and I’ll tell you at the end of the post so you can see how well you know our market!
Looking at today’s headlines I found [...]

More news was released yesterday by the New York Times about the new federal program that will actually pay homeowners to sell at a loss!  Under the program more homeowners will be in the position to sell their homes “short sale” than ever before…while being given up to $1,500 for relocation expenses when the home closes [...]

This Week’s Redding Real Estate Update:
 
Residential Market Statistics
Active Listings: 1,387 (from 1,374 last week and 1,389 two weeks ago)
Pending Listings: 461 (from 457 last week and 429 two weeks ago)
Closed So Far This Month: 38
Closed in February: 130
Closed in January: 117
Total Closed Escrows in 2010: 286
 
 
Total # of Homes that closed escrow during 2009: 2,060
December [...]

10-580 (Millville – whitmore, California, US)

Details

Short Sale..but priced at what is owed on 1st trust deed…no 2nd trust deed! Privacy and seclusion. Huge living area,big bedrooms,woodburning stove and 30×40 shop.Home was purchased as a 2nd home/ranch.Has been vacant over a year and needs attention. Home had been renovated prior to purchase in 2005.Flat,useable 10 acres. [...]

13173 TIERRA OAKS DR, REDDING, CA 96003
MLS #10-889 $354,900
Bank-owned Redding foreclosure featuring 4 bedrooms and 2.5 baths with 2,663sqft of living space all situated on 3 acres.  Has sought after features, granite counters, tile floors, wood stove on stone hearth, split floor plan, loads of storage, built in cabinets in bedrooms, hallway, upstairs loft [...]

This Week’s Redding Real Estate Update:
Residential Market Statistics
Active Listings: 1,389 (from 1,343 last week and 1,329 two weeks ago)
Pending Listings: 429 (from 426 last week and 433 two weeks ago)
Closed So Far This Month: 90
Closed in January: 117
Total Closed Escrows in 2010: 207

Total # of Homes that closed escrow during 2009: 2,060
December 2009: 185
November [...]