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 [...]

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 [...]

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 [...]

This Week’s Redding Real Estate Update:
Active Listings: 1,311  (from 1,324 last week and 1,294 two weeks ago)
Pending Listings: 406 (from 393 last week and 406 two weeks ago)
Escrows Closed So Far This Month: 9
Escrows Closed So Far This Year: 124
 
Total # of Homes that closed escrow during 2009: 2,047
December 2009: 185
November 2009: 170
October 2009: 216
September [...]

Shasta County Real Estate Statistics:

Available residential listings: 1,324  (from 1,294 last week and 1,316 two weeks ago)
Homes in escrow: 393 (from 406 last week and 379 two weeks ago)
Homes closed escrow so far in 2010: 91
Homes closed escrow during 2009: 2060

All information provided by Clint Cronic, Broker Associate and Mindy Cronic, MBA of Next Generation Real [...]

Latest Statewide Data From C.A.R.!
So how does our current market compare to the “height” of the market for our area?  The California Association of Realtors (CAR) released information in late December that depicts the height of the market in many areas of the state and then compares that to the November 2009 statistics to show [...]

What’s ahead for home prices?
 
The California Association of Realtors has just published the following insight that they feel may help educate residents, homeowners and prospective buyers:
 
California remains ahead of the nation in market recovery with many first-time home buyers entering the market due to affordable home prices, low mortgage rates, and first-time home buyer tax [...]