Redding Real Estate

Help Bring Google Ultra High Speed Internet To Redding!

admin — Sat, 20 Mar 2010 00:45:06 +0000

As part of a community-wide effort, we are helping to spread the word!

As you may, or may not have heard, we have an opportunity to have Google put in ultra high speed internet wiring for free in Redding. They are doing it for only a handful of communities. Part of their determination will focus on how supportive and engaged the community is toward the project.

Your effort of a few minutes can make a big difference in the economic prosperity of our city. Having ultra high speed internet can mean the difference between a major employer coming to the area or going elsewhere.

Please take the time to read the attachment from the Chamber and follow the instructions at the end on how to lend your support.

Chamber Report (PDF, 212 kb)

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Tax exemption for homeowners in distress goes to governor

admin — Wed, 17 Mar 2010 17:30:19 +0000

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 bill is Governer Schwarzenegger to either sign or veto it and, if signed, it will take effect immediately. The bill would also be retroactive to include the 2009 tax year and stay in effect through 2012.

Read the article from The Press-Enterprise: Tax exemption for homeowners in distress goes to governor

Clint and Mindy Cronic, Next Generation Real Estate Services

Phone: 530.227.0345

Web: www.ReddingBlogs.com www.SellingRedding.com

DRE License #s 01314114 & 01458166

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REO’s – The Numbers Don’t Lie

admin — Mon, 15 Mar 2010 01:00:15 +0000

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 sales – both short sales (before foreclosure has completed) and sales after foreclosure (REO’s). For more information on these types of properties contact us at 530.227.0345.

Clint and Mindy Cronic
Next Generation Real Estate Services
530.227.0345
www.SellingRedding.com or www.ReddingBlogs.com
DRE License #s 01314114 or 01458166

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Is a Garage Sale in Your Future?

admin — Sun, 14 Mar 2010 06:45:31 +0000

Well its that time of year again…driving around this weekend it appeared that there was a garage sale on every corner. If you are thinking of hosting one soon, click here to see a video on how to make sure that YOUR garage sale is the first one people will want to go to! You’ll learn about everything from advertising to “Staging” your sale and items for maximum return! Oh, and don’t forget to post it on www.craigslist.org as that is a great free place to advertise your sale!

Redding Real Estate Market 6/21/09

admin — Sun, 14 Mar 2010 06:45:31 +0000

Residential Listings: There are currently 1,538 (down from 1,547 last week and 1,555 two weeks ago) and another 497 (up from 490 last week and 469 one month ago). So far this year there have been 801 sold listings in the MLS database and in June so far there have been 100 sold listings recorded. Home sales trends for the last couple of months inclue 198 homes sold in May and 142 homes sold in April

Historical Data for Closed (Sold) MLS Listings in Shasta County:

Overall statistic for the year 2007: there were 2,140 listings that sold (closed escrow) and were recorded in the MLS database.

Overall statistic for the year 2008: there were 1,942 listings that sold (closed escrow) and were recorded in the MLS database.

Visit http://www.sellingredding.com/idx.htm to search the entire Shasta MLS Database

Contact Clint and Mindy Cronic at Real Estate Professionals, GMAC today at 530.227.0345 for more information on how our aggressive marketing strategy can SELL your home or visit our website, www.sellingredding.com to search the entire MLS database for your next new home!

If you are buying a home we’d love to help you find the home of your dreams. Whether you are buying in 2 days or 2 years we can help you from relocation information, school data or neighborhood demographics to loan prequalification, previewing homes or sending virtual tours!

To Home Warranty or Not???

admin — Sun, 14 Mar 2010 06:45:31 +0000

TO HOME WARRANTY OR NOT?

In today’s strained economy homebuyers are looking for ways to save money when it comes to their real estate transaction. While it may seem as if purchasing a Home Warranty may be a “luxury” for your real estate purchase, it is more like insurance against many costly repairs that could be needed upon you moving into that new home. Some great things to know about a home warranty:

While not everything in your home can be covered, A home warranty is essentially a service contact that covers the repair or replacement of the most frequently occurring breakdowns of home system components and appliances. When a covered item breaks down (ie appliance, plumbing, etc.), you will call an 800 number (available 24 hours per day, 7 days per week) to initiate a service request. The company will then contact one of their local approved and insured contractors to schedule a time for that specialist to diagnose the problem. There is generally a small service call fee that you give to the contractor when they arrive to diagnose the problem (usually under $50). The contractor will then repair or replace the part and you will not have to pay for any further services related to the call unless the part is not covered by the warranty. Be sure to discuss the possible uncovered components of the broken part with the warranty company before you initiate the repair so you won’t be surprised if a component is not covered.

So…how much does a home warranty cost and who pays for it? A one-year warranty usually costs between $350.00 and $550.00 depending upon the additional coverage you may need (ie septic, well, pool, etc.) and can be renewed annually for slightly more. Should you get a home warranty? That really depends upon you. If purchasing a home that hasn’t been lived in for a while or is in need of repair, as a Realtor I say it is essential. You never know what unexpected suprises you will get upon moving in. If buying an REO or probate it is also essential as the sellers are exempt from disclosing many material facts about the property that a typical owner might know since they haven’t actually lived on the property and don’t know what works or doesn’t. What I would ask you to weigh out is whether one of the biggest purchases of your life is worth spending under $550.00 to protect it during the first year…

First Impressions DO COUNT in Real Estate!

admin — Sun, 14 Mar 2010 06:45:30 +0000

The latest craze in real estate as most know is to complete DIY projects, saving time and money for the homeowner. This is true in many instances but follow a couple rules: take your time and don’t cut corners and decorate for the masses if you are planning to sell anytime soon. What I mean by “decorate for the masses” is to create an environment with paint colors and materials that almost anyone could bring their existing furniture into and live.

What we are seeing now with many homes on the market in our area is a need for buyers to get the best “perceived value”. They may look at 20 homes and find one home over the rest that has been staged to sell (doesn’t have to be by a professional “stager”) but appears as if the current owners have meticulously maintained the home. Walking into a home with a clean front porch, clean eaves, mowed lawn and a couple live potted plants feels inviting to potential buyers whereas overgrown grass, broken-down cars and dead plants can be a warning sign of an improperly maintained home. Here is a quick sample of what I mean…

Unstaged/cluttered homes might detract buyers

Clean and fresh homes attract buyers to see more!

a Quick 11-Question Realtor Interview…

admin — Sun, 14 Mar 2010 06:45:16 +0000

Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs.

1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job.

2. How many homes did you and your real estate brokerage sell last year? By asking this question, you’ll get a good idea of how much experience the practitioner has.

3. How many days did it take you to sell the average home? How did that compare to the overall market? The REALTOR® you interview should have these facts on hand, and be able to present market statistics from the local MLS to provide a comparison.

4. How close to the initial asking prices of the homes you sold were the final sale prices? This is one indication of how skilled the REALTOR® is at pricing homes and marketing to suitable buyers. Of course, other factors also may be at play, including an exceptionally hot or cool real estate market.

5. What types of specific marketing systems and approaches will you use to sell my home? You don’t want someone who’s going to put a For Sale sign in the yard and hope for the best. Look for someone who has aggressive and innovative approaches, and knows how to market your property competitively on the Internet. Buyers today want information fast, so it’s important that your REALTOR® is responsive.

6. Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction? While it’s usually legal to represent both parties in a transaction, it’s important to understand where the practitioner’s obligations lie and that they understand what their obligations are when representing both parties. Your REALTOR® should explain his or her agency relationship to you and describe the rights of each party.

7. Can you recommend service providers who can help me obtain a mortgage, make home repairs, and help with other things I need done? Because REALTORS® are immersed in the industry, they’re wonderful resources as you seek lenders, home improvement companies, and other home service providers. Practitioners should generally recommend more than one provider and let you know if they have any special relationship with or receive compensation from any of the providers.

8. What type of support and supervision does your brokerage office provide to you? Having resources such as in-house support staff, access to a real estate attorney, and assistance with technology can help an agent sell your home.

9. What’s your business philosophy? While there’s no right answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals and business emphasis mesh with your own.

10. How will you keep me informed about the progress of my transaction? How frequently? Again, this is not a question with a correct answer, but how you judge the response will reflect your own desires. Do you want updates twice a week or do you prefer not to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?

11. Could you please give me the names and phone numbers of your three most recent clients? Ask recent clients if they would work with this REALTOR® again. Find out whether they were pleased with the communication style, follow-up, and work ethic of the REALTOR®.

If you are interviewing Realtors to potentially market your home for sale please contact Clint and Mindy Cronic, The Cronic Group of Real Estate Professionals GMAC at 530.227.0345, via our website at www.sellingredding.com or blog at www.reddingblogs.com/reddingrealestate or email at contactus@sellingredding.com. We would love the opportunity to share our aggressive marketing strategy and area expertise with you!

5 Things To Do Before Marketing Your Home

admin — Sun, 14 Mar 2010 06:45:16 +0000

5 Things to do Before Putting Your Home on the Market

1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.

2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.

3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.

4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.

5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?

What exactly is a Short Sale?

admin — Sun, 14 Mar 2010 06:45:16 +0000

I just wanted to take a moment to discuss a SHORT SALE as many people that we encounter in the Redding area have no clue what it actually means.

A “short sale” is when someone who owns a home (financed by a bank) is allowed to sell the home for less than the current amount owed on the property. The bank needs to approve the amount of payoff that is “short” of the amount that is owed to them and this is where the name “short sale” comes from.

The misconception is that ANYONE can do a short sale just because the home is worth less than they paid for it. This is very untrue and Realtors should be discussing this with potential homeowners looking to do a short sale on their home. Banks now are reviewing possible short sale homes to determine if the seller actually qualifies to sell the home short.

So how can a home and the seller “qualify” for a short sale? Each bank varies. This being said, the general rule is that the seller needs to show a “hardship” through a letter in which they disclose their situation that has led them to HAVE to sell the home now instead of waiting out the market. Some hardships include loss of job or medical problems and the seller should present actual proof of the hardship with the Short Sale package. In addition to a hardship, some banks are reviewing the original loan package from when the buyer purchased the home to ensure they didn’t exaggerate their income/decrease expenses when they originally purchased (which is actually lender fraud and some areas considered “grand theft”). You should also be prepared to provide past tax documents and statements of current income/expenses to support your need to sell now.

For more information on Short Sales contact Clint and Mindy Cronic – The Cronic Group of Real Estate Professionals GMAC at 530.227.0345 or via email at contactus@sellingredding.com or on the web at www.sellingredding.com or www.reddingblogs.com/reddingrealestate