March 21, 2017

4 Reasons to Buy in Redding This Spring!

Buy in Redding This Spring!

Here are four great reasons to consider buying a home today instead of waiting.

1. Redding Home Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.9% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.8% over the next year.

The bottom in home prices has come and gone. Redding and Shasta County home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4% over the last couple months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by at least a half a percentage point this time next year.

An increase in rates WILL impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You are Paying a Mortgage 
There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage - either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you?

GET AN INSTANT PROPERTY VALUATION
www.shastahomevalue.com

4. It’s Time to Move on with Your Life
The ‘cost’ of a home is determined by two major components:

  • Price of the home
  • Current mortgage rate

It appears that both are on the rise... But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings. You can contact me by calling 530-222-3800 or email me at josh@reddinghomes.com.

Have a fantastic start to Spring!

Your Realtor,
Josh Barker

Posted in Josh's Blog
March 14, 2017

Redding Housing Market Expected to “Spring Forward”

Redding Housing Market Expected to Spring Forward

Just like our clocks sprung forward this past weekend, the housing market will soon “spring forward” as well. In Redding and Shasta County the lack of inventory available for sale right now is what is holding back the market. However, we have started to see those inventories trend upward in the past few weeks, and will continue to increase over the next few months.

Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right. Buyer demand typically has seasonality to it, which usually falls off in the winter months.

That has not happened this year...

Demand for housing in Redding and surrounding areas has remained strong as mortgage rates have been near historic lows for some time now. Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.

www.reddinghomes.com/selling-your-home/

Bottom Line

If you are planning on selling your home in Redding or Shasta County this year, let’s get together to evaluate the opportunities in our local housing market. Feel free to call Josh at 530-222-3800 or email josh@reddinghomes.com.

Posted in Josh's Blog
March 7, 2017

Shasta County Market Update - March 2017

Hottest Topics Trending Now in Shasta County...

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


Shasta County Home Inventory Down by Nearly 25%
Home sales were down by just under 10% last month compared to the same month last year. I have included the reports from the local Shasta County MLS.

Pending listings are also down slightly as you can see by the report below.

A good look at the active listings here in Shasta County really explains why pending and home sales are down this year.

There are a few reasons why this is taking place. If we look at the big picture over the past five years, the one thing that has started to change - and dramatically at this point - is the amount of of distressed property sales that are no longer coming to the market. In years past we’ve had many more foreclosures and short sales which supplied the market with inventory. This gave both investors and home-buyers opportunities to purchase. However, now that foreclosures have dropped and there are fewer distressed properties, this naturally translates into fewer listings and fewer home sales.
 
Lack of New Construction
Here in Shasta County we still don’t have enough new construction being developed. The largest reason is that home prices have not moved up high enough yet to allow builders to acquire property, pay the fees associated with developing that property and still realize a small or modest profit. The amount of new construction being built is not keeping up with the demand in the market for new homes.
 
Home Appreciation
Current homeowners can expect to see their homes appreciate over the next few years. This gain in equity is necessary for them to sell their property and move up to a larger home or downsize. With appreciation we will see two things take place:

  1. Equity sellers will be entering the market to sell their properties.
  2. New construction will start once the spring and summer months are here.

Bottom Line
If you have any questions about the real estate market here in Redding or Shasta County, please feel free to give me a call at 530-222-3800. 

Make it a great day!

Posted in Josh's Blog
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