Feb. 16, 2017

Great News for Redding Homeowners

Attention Redding Homeowners!

Recently there has been a lot of talk about Redding home prices and if they are accelerating too quickly. As we've mentioned before, properties for sale simply cannot keep up with the number of buyers actively searching for a home. This fact holds true here in Shasta County as well, which has caused home prices to rise.

Check your Home Value INSTANTLY!

For those who are worried that we are doomed to repeat 2006 all over again, it is important to note that homeowners are investing their new-found equity back into their homes and themselves, not in depreciating assets. In addition, lending practices today are much stronger than in past years.

The added equity is helping many Redding families put their children through college, invest in starting small businesses, allowing them to pay off their mortgage sooner or move up to the home that will better suit their needs now.

Bottom Line
If you are a homeowner looking to take advantage of your homes equity by moving up to your dream home, let's get together to discuss your options! Call 530-222-3800 to set up an appointment or email me at josh@reddinghomes.com.

Posted in Josh's Blog
Feb. 15, 2017

List Now and Attract More Serious Buyers



 

A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close.

It’s no surprise that listing a home for sale in Redding during the spring saw the largest return, as the spring is traditionally the busiest season for real estate. What is surprising, though, is that listing during the winter came in a very close second!

“Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same.”

The study goes on to say that:

“Buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often want to close quickly — two things that can make the sale much smoother.”

Bottom Line
If you are debating listing your home for sale in 2017, keep in mind that the spring is when most other homeowners will decide to list their homes as well. Listing your home this winter will ensure that you have the best exposure to the serious buyers who are out looking now!

It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today. If you have any questions about selling your home please contact me at the office 530-222-3800 or email josh@reddinghomes.com.

Posted in Josh's Blog
Feb. 6, 2017

Shasta County Market Update February 2017

Shasta County Real Estate Market Starting 2017 in High Gear!

Click Here to watch Josh's video blog for the month of February


Hot topics trending now in Shasta County...

Consumer Confidence at Highest Level since August 2001
There are many contributing factors to this increase:

  1. In regards to Real Estate, the local economy is performing better than in years past.
  2. Interest rates still remain low and there are many financing options available.
  3. The stock market is responding positively to the election.

With the Presidential Election behind us, it is projected that many buyers and sellers will enter the market early this year. Whether you're a first-time buyer or looking to move up from your old home, now is a great time to take advantage of the lower interest rates before they increase later this year.

Inventory of Homes For Sale in Shasta County
If you're a buyer currently looking for a home you may notice there are currently fewer to choose from. In fact the inventory of homes for sale is down by 20-25% compared to last year. See all homes for sale at www.reddinghomes.com. Be sure to sign up to be the first to see new listings as soon as they hit the market!

Home Sales UP by 10%
It's early in the year but I fully expect the number of sales to trend very similar to last year. I've already noticed many buyers entering the market, and not waiting for the spring buyer rush that we've seen in the past.

With lower inventory and higher amount of sales occurring, Redding home buyers are experiencing a hot market. This is good news for sellers! If your home is currently on the market and priced properly you can expect fewer days on the market. Of course, homes further away from Redding might be on the market a bit longer since the buyer demand may begin to slow slightly.

Search for homes with our New Search Widget!

 

Median Home Price
The median home price in Shasta County is projected to increase by an average of 4%. This is largely due to a strong buyer demand. You can check the value of your home instantly at www.shastahomevalue.com

New Home Construction
Local City Building Departments have released monthly reports showing the latest building permits which have been pulled for new residential construction. The latest reports show Anderson is currently outpacing Redding in regards to new home construction. I suspect the cost for new construction is lower in Anderson than it is in Redding, and this is pulling those contractors to build in Anderson. There are multiple subdivision projects in Anderson right now, and we will expect to see that inventory hit the market in late Spring and early Summer.

New Commercial Real Estate
Commercial real estate construction is projected to be very low in Shasta County in 2017. The cost of new commercial construction here in the City of Redding is up astronomically. The cost to build and develop properties and meet all the current codes handed down by the State of California, as well as the additional codes for the City of Redding are staggering. In most cases, the final cost to build and develop new property is far greater than the appraised value. This is good news if you own or currently rent a commercial property. You can expect rents to remain stable due to the lack of competition from new buildings entering the market.

Search all commercial real estate in the Shasta County market at www.reddinghomes.com/commercial

Bottom Line
The Shasta County housing market is strong and poised to grow. Home prices are stable, and rising at a moderate pace. If you have any questions regarding real estate in Shasta County, we are here to help. Feel free to reach out to me by email josh@reddinghomes.com or contact me at 530-222-3800.

Your Realtor,
Josh Barker

Posted in Josh's Blog
Jan. 26, 2017

Thinking of Selling? Why Now is the Time.

It is common knowledge that a larger number of homes sell during the spring.

For that reason, many Redding homeowners hold off on putting their homes on the market until then. The million dollar question is whether or not that will be a good strategy this year.

Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors recently revealed the months in which most people listed their homes for sale in 2016.

"April, May and June are consistently the most popular months for sellers to list their homes on the market."

What does this mean to you?
With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer.

Visit www.reddinghomes.com/selling-your-home for more information
and see how we get homes sold for top dollar and FAST!

Bottom Line
It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today. If you have any questions about selling your home please contact me at the office 530-222-3800 or email josh@reddinghomes.com.

Posted in Josh's Blog
Jan. 24, 2017

Low Interest Rates = More Purchasing Power

According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently averaging 4.09%, which is still very low in comparison to recent history!

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.

 

Check out our advanced search below to find homes within your budget!

The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments at or about $1,100 a month.

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5%, (in this example, $6,250). Experts predict that mortgage rates will be closer to 5% by this time next year.

Act now to get the most house for your hard-earned money.

See all current listings at www.REDDINGHOMES.com

Posted in Josh's Blog
Jan. 23, 2017

Tips for Preparing Your House For Sale


When listing your home for sale in Redding or Shasta County, our top goal is to get it sold for the highest price possible. Check out Josh's 5 Proven Marketing Strategies and see how we utilize cutting edge technology from aerial videography to virtual tours to ensure your home stands out from the rest and sells FAST!

Visit www.shastahomevalue.com for
a FREE Valuation of your property INSTANTLY!

If you are currently thinking of selling your home in Redding or Shasta County - now may be a great time to do so! Please feel free to contact me at 530-222-3800 or send me an email at josh@reddinghomes.com if you have any questions.

Posted in Josh's Blog
Jan. 17, 2017

5 Myths About Real Estate Reality TV Explained

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there… watching entire seasons of “Love it or List it,” “Fixer Upper,” “House Hunters,” “Property Brothers,” and so many more, just in one sitting.

When you’re in the middle of your real-estate-themed-show-marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.

Reality TV Show Myths vs. Real Life:

  • Myth #1: Buyers look at 3 homes and make a decision to purchase one of them.
  • Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes during their search.
  • Myth #2: The houses the buyers are touring are still for sale.
  • Truth: The reality is being staged for TV. Many of the homes being shown are already sold and are off the market.
  • Myth #3: The buyers haven’t made a purchase decision yet.
  • Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy.
  • Myth #4: If you list your home for sale, it will ALWAYS sell at the Open House.
  • Truth: Of course this would be great! Open houses are important to guarantee the most exposure to buyers in your area, but are only a small PIECE of the overall marketing of your home. Just realize that many homes are sold during regular listing appointments as well.
  • Myth #5: Homeowners make a decision about selling their home after a 5-minute conversation.
  • Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives/goals.

Bottom Line
Having a local, experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!

Posted in Josh's Blog
Jan. 10, 2017

Buying or Selling in Redding?

Hire an Entire Team!

Many people wonder whether they should hire a real estate professional to assist them in buying their dream home or if they should first try to do it on their own. In today’s market: you need an experienced professional!

An Expert Guide
The field of real estate is loaded with land mines; you need a true expert to guide you through the dangerous pitfalls that currently exist. Finding a home that is priced appropriately and is ready for you to move into can be tricky. An agent listens to your wants and needs, and can sift through the homes that do not fit within the parameters of your “dream home”. A great agent will also have relationships with mortgage professionals and other experts which will assist with securing your dream home.

A Skilled Negotiator
In today’s market, hiring a talented negotiator could save you thousands, perhaps tens of thousands of dollars. Each step of the way – from the original offer to the possible renegotiation of that offer after a home inspection, to the possible cancellation of the deal based on a troubled appraisal – you need someone who can keep the deal together until it closes.

Realize that when an agent is negotiating their commission with you, they are negotiating their own salary; the salary that keeps a roof over their family’s head; the salary that puts food on their family’s table. If they are quick to take less when negotiating for themselves and their families, what makes you think they will not act the same way when negotiating for you and your family?

Bottom Line
Just like a good accountant or a good attorney, a good agent will save you money…not cost you money.

Thinking of Selling Your Home? Visit www.reddinghomes.com/selling-your-home

Posted in Josh's Blog
Jan. 5, 2017

Shasta County Market Update January 2017

Your 2017 Shasta County Home Price Update Report

 

Click Here to watch Josh's video blog for the month of January


As many of you already know, a lot is happening with our economy. The election is over and both businesses and the stock market have a better understanding on what to expect. I predict our local real estate market will hit a pivotal point in 2017 since, in many areas across the state, home prices are at or above "pre-bubble" levels. Our federal reserve is confident on growth, who recently – in vague language of course – sent strong signals they will raise interest rates in 2017 even higher.

Higher interest rates make it more expensive to buy your home, especially for millennials; a BIG market this year. As your Realtor, based on what I’m seeing in Shasta County, 2017 may be the ideal year in the short term to sell your home for a great price. I feel the pent up demand of homeowners itching to sell after getting back to even. I see more people getting mortgages now that Fannie and Freddie back 3% down payment loans. I talk to people every day who are better employed and making more money; job growth is up. All these forces will come together in 2017 and I see a lot of homeowners selling their homes this spring. Which of course, if you’re thinking about selling your home in 2017, means there will be a lot of competition.

So if you’d like to know what your home could sell for, I purchased access to local public home sale information for you – 100% complimentary – so you can find out what your home is worth online.

Click here to find out what your Redding Area home is worth now
(It’s completely free. Simply enter your home address and you’ll get the value range.)

Now, there’s more of course to pricing your home than mirroring your neighbor's final sales price. That’s where my expertise comes in – we track EXACTLY what home buyers are looking for. If you are, in fact, thinking about selling your home and want to know how it works, how long it takes, and the price you can expect to get, call me at 530-222-3800 or reply to this email – it goes right to me.

No pressure or obligation to sell, of course. It’s only a discovery phone call. But we want to take “preemptive” action now before everyone lists their homes this spring. This way you get ahead of the market and make more money.

In the meantime, if we haven’t spoken recently, consider 2017 my promise to keep you better informed on what’s happening in our local market. Call or email me anytime with your real estate questions.

Thank you, and make it a great 2017!

Your Realtor,
Josh Barker

Posted in Josh's Blog
Dec. 30, 2016

Start 2017 Off Right…

As we are about to bring in the New Year, families across the country and here locally in Redding will be deciding if this is the year they will sell their current house and move into their dream home. Many will choose that it is smarter to wait until the spring “buyer’s market” to list their house for sale. In the past, that might have made sense. However, this winter is not like recent years.

The recent jump in mortgage rates has forced many Redding buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale in Shasta County has dropped dramatically as compared to this time last year.

Here is a chart showing the decrease in inventory levels by category:

Bottom Line
Demand for homes for sale in Redding and surrounding areas is very strong right now while competition (other homes for sale) is at a historically low level. If you are thinking of selling in 2017, now may be the time. Feel free to contact me at 530-222-3800 or email josh@reddinghomes.com to discuss the options available when selling your home. Also check out www.reddinghomes.com/selling-your-home for a closer look at how we sell over 450 homes a year.

Posted in Josh's Blog