If you have thought about selling your house in Redding this year, now may be the time to do it. The inventory of homes for sale in Shasta County is well below historic levels and buyer demand is skyrocketing. The best time to sell something is when supply of that item is low and demand for that item is high. That defines today’s real estate market. As you can see by the slide below, Shasta County housing inventory for the month of April was down by 21% compared to last year.
Jonathan Smoke, Chief Economist at realtor.com, revealed in a recent article that:
“The biggest challenge to buyers this spring will be simply finding a home to buy and getting it successfully under contract. That’s because the supply of homes for sale is at an all-time low, and yet demand is strong and getting stronger.”
Smoke goes on to say:
“We started the year with the lowest inventory of homes available for sale we’ve ever seen. We did see inventory grow 2% in February, total inventory was down 11% over last year.”
In this type of market, a seller may have a major negotiating advantage when it comes to price and other aspects of the real estate transaction including the inspection, appraisal and financing contingencies.
Bottom Line As a potential seller, you are in the driver’s seat right now. It might be time to hit the gas. If you have questions about potentially selling your home in Redding, please feel free to give me a call at 530-222-3800. We have lots of information on our website at www.reddinghomes.com/selling-your-home/.
When a homeowner decides to sell their house, they obviously want the best possible price for it with the least amount of hassles along the way. However, for the vast majority of sellers in Redding, the most important result is actually getting their homes sold.
In order to accomplish all three goals, a seller should realize the importance of using a local real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. According to the National Association of Realtors’ 2016 Profile of Home Buyers & Sellers, the percentage of buyers who used the internet in their home search increased to 94%.
The report also revealed that 96% of buyers who used the internet when searching for homes purchased their homes through either a real estate agent/broker or from a builder or builder’s agent. Only 2% purchased their homes directly from a seller whom the buyer didn’t know.
The plethora of information now available has resulted in an increase in the percentage of buyers that reach out to real estate professionals to “connect the dots.” This is obvious, as the percentage of overall buyers who have used agents to buy their homes has steadily increased from 69% in 2001.
If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process. If you're ready to sell your home, please contact me at 530-222-3800 and visit our website at www.reddinghomes.com/selling-your-home for more information.
Click Here to watch Josh's video blog for the month of April
"How is the real estate market performing?" I get asked this question often, and my typical response is "What price range are you referring to?". The local real estate market does not perform the same across all price ranges. For example, if you look in the upper end of the market there is still larger inventory and fewer transactions taking place which translates into more of a ‘buyers’ market. When you move down to the lower price ranges we start to see those inventories shrink due to fewer foreclosures and distressed properties. At the same time we are also experiencing a very strong buyer demand in these areas which lead to more competition, multiple offers, and in some cases homes are being ‘bid up’ over asking price.
Lower Inventory of Homes For Sale Foreclosures and distressed properties in the market have continually trended down since its peak in 2012 (see slide below). These sales account for less than 7% of all transactions nationwide, and closer to 4% here in Shasta County. When foreclosures went away it also affected the inventory of homes for sale, specifically in the lower price ranges. See all current foreclosures at www.reddinghomes.com/foreclosures
Until new construction picks up to any meaningful level we will continue to experience lower inventories. This means a tighter market for buyers in the lower price ranges as well as shorter days on the market. Some homes will see competing offers right away.
Local Home Sales Report Shasta County home sales in March were on par with the same time last year, with very similar amount of properties closing escrow, despite the lower inventories. We did experience an increase in pending properties which went under contract last month. The latest report from the Shasta County MLS shows sales are up by 14% over the same time last year.
The bigger problem comes when we take a look at the active listings. There are currently 803 homes for sale, compared to over 1,000 at this time last year. This calculates into a 21% decrease in inventory across the board. With sales up by 14%, we are starting to see a much tighter market in regards to the lower end price ranges, and why some homes are selling so quickly.
Selling Your Home in Today's Market Homeowners selling in the upper end price ranges should understand it is currently a "buyers market" in many ways. There are a lot of things to be done to market and promote a home properly and successfully. In the lower end price range sellers will see stronger buyer demand for their home and likely multiple offers on the property. Managing those offers properly can help in negotiating the highest possible price for the home. It also gives the sellers an opportunity to select the most qualified buyer, thus reducing the chances of falling out of escrow. For more information please visit www.reddinghomes.com/selling-your-home.
Thinking of selling? Check the value of your home INSTANTLY!
Strategies for Buyers Buying a home in the lower end of the market will pose some definite challenges. We have developed some of our own strategies, that we share with our buyers, which give them a great chance of beating out the competition in multiple offer scenarios. These strategies don’t cost you more money, or increase your risk, they are designed to be received in the best manner by the homeowner.
If you’d like to learn more about our marketing strategies and tips to make a strong competitive offer in today’s hot market, or questions regarding our local market please feel free to give me a call at 530-222-3800 or email me at email@example.com.
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?
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 firstname.lastname@example.org.
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.
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 email@example.com.
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:
Equity sellers will be entering the market to sell their properties.
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.
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 firstname.lastname@example.org.
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 email@example.com.
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:
In regards to Real Estate, the local economy is performing better than in years past.
Interest rates still remain low and there are many financing options available.
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.
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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.
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 firstname.lastname@example.org or contact me at 530-222-3800.
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.
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 email@example.com.
December 5, 2015 From the first day to the last the whole process went AWESOME!!! Buying a home can be very stressful but JOsh Barker's team was always there to make sure things went smoothly!!! If you find yourself in the market to buy or sell I feel you won't go wrong with this professional team. Thanks for helping my wife and I. God Bless! -Howie Groen
December 4, 2015 I was impressed when I met with Josh to sell our home. He made lots of promises on his service, was extremely knowledgeable. Once we started the sales process, he delivered on everything he told us he would do. He and his staff are amazing. They keep regular contact with you from start to finish. The are prompt in any situation that arises. They made the stress of selling a home so much easier. I would recommend Josh Barker to anyone that is selling their home. Deborah & John MacGillivray
November 30, 2015 Very easy to work with. Our home sold in 10 days! Kept us informed from start to finish! Staff was always friendly and informative. You will not regret choosing Josh Barker for your realtor. Josh also recommended a wonderful window cleaner and carpet cleaner. We even sold our home for more then asking price! -Bruce and Lynn S.
November 20, 2015 Josh Barker and his associates are simply the best! I've bought and sold 4 houses, using different realtors for each transactions. But I will only go with Josh Barker for all my future real estate needs! He is very knowledgeable, friendly, and prompt. He got our house sold for top dollar in just a few weeks. Thanks for everything! -Jennifer A.
November 13, 2015 We were very happy with the service and knowledge that Josh Barker and his team brought to the table in our real estate negotiations. We are confident that with out Josh we would have paid significantly more for the property, would not have been as well informed regarding the property and then tenants therein, and that this would have been a different transaction all together. Even after the close of escrow Josh and his team have continued to help us out with questions to the former owner. We heartily recommend Josh for all of our real estate needs. Alan K.
November 10, 2015 I have rarely had the pleasure to do business with such a team of professionals. Josh met with me personally to explain how the members of his staff would work together with my wife and I to come to a successful conclusion in the sale of our home. Each member of this organization had specific responsibilities in the sale process, and each and everyone did their job to perfection. It is gratifying to find a group of people that are so dedicated to their clients. I heartily recommend Josh Barker for all your Real Estate needs. -Gordy S.
November 9, 2015 Josh came highly recommended and it was clear right away that he has a high level of expertise and professionalism in his field. He was very attentive to our needs, detail oriented and knows the local market quite well. His online strategy of showing our home and getting the most quality views possible was definitely encouraging and exciting! He has assembled a quality, friendly and professional staff who helped make our home selling experience an easy and smooth one. There is no doubt that we will be using Josh and his tea for our future real estate ventures. It was a joy to work with them!!- Paul M.
November 9, 2015 Josh Barker and his entire team are amazing! They are on the ball every minute and they don't miss a beat. They treat us so well that they feel like family. We will never choose anyone else for our real estate needs! Josh gets your home sold asap! Couldn't be happier! -Jennifer M.
November 3, 2015 Josh has my highest recommendation. Our home was listed for 6 months with no offers. We retained Josh and thanks to his knowledge, exposure to many websites and his expertise, within weeks we received multiple offers. The great thing about Josh and his team, is you have the personal attention of having a small town real estate agent, like a friend, but the talent and professionalism and knowledge of a big city Broker combined into one, that is rare! If you want your home sold, call Josh and his team, they are a delight to work with. -Sara C.
November 2, 2015 To Josh Barker and his team, I cannot thank you enough for all your hard work and dedication in selling my home. You and your team were professional, knowledgeable and responsive throughout the whole transaction. Josh, I always felt you had my best interest at heart and you made a potentially difficult process extremely easy. From start to finish the service I received was nothing short of excellent. I will definitely be referring anyone I know looking to buy or sell a home because you are without a doubt the best realtor I know!
October 30, 2015
Josh Barker and his team are by far the most professional Real Estate Company in the North State. We have used Josh Barker on multiple house buying and selling transactions. Not only does Josh listen attentively, but he sincerely cares about helping you find the exact house that fits your lifestyle/needs. He is a fair negotiator and you can fully trust that he will give you accurate advice and information from all angles. His staff is prompt, friendly, and they have excellent and timely follow through both on the phone and via email. Josh and his staff keep you updated along the way and you never have to worry about them forgetting any detail. Josh Barker is second to none! Whether you are listing or selling, Josh Barker will make sure you are taken care of 100%. -Alana O.
October 29, 2015 Josh Barker has an incredible team that makes his office a huge success. When I had a questions or a need, it was answered promptly and cordially by one of the team members. This office will go above and beyond what is considered "normal practices" to make the process of buying or selling a home a breeze. Through excellent negotiations, we were able to sell our home for our asking price within one wee! This office has been a part of my life for the past 7 weeks and will be sorely missed. -Marty and Sharl L.
October 21, 2015 I would like to give a huge thank you to Josh Barker and his entire company for helping me with my recent home purchase. It is clear that Josh is passionate about what he does and extremely knowledgeable. Finding the right home felt stressful at times but Josh was always available for all of my questions. The entire company went above and beyond throughout the whole process. Josh has sold several homes for my family and friends with great success so working with Josh was an easy decision. -Brian M.
October 20, 2015 I have already recommend Josh Barker to several friends. His office was extremely professional, punctual, informative and helped us quickly sell our home for a great price. Thank you Josh and team! -April L.
October 14, 2015 From the beginning of the process to the end, Josh and his team were exemplary. Each team member knew their job and handled it with nothing but true professionalism. I will definitely recommend Josh and his team to my friends and family
October 8, 2015 It was both a professional blessing and an honor to have worked with Josh Barker and his team. When it came time to sell our house, a dear friend highly recommended Josh Barker. Following his advice, we called Josh. First impressions go along way, he was very impressive as well as very professional. Josh certainly did his homework determining the financial specifications of the housing market in our neighborhood. It was quite evident that the Lord was working through Josh. When God is for us, who can be against us. Trust in the Lord with all your heart, lean not on your own understanding, acknowledge Him in all your ways and He will make your paths straight. To that end, I would highly recommend services of Josh Barker Realty, only wish I had another house to sell. God Bless. -Phil and Diane Richardson
September 28, 2015 Josh (and his team of professionals) was outstanding! We were very impressed with the communication throughout the process of listing and closing the sale of our duplex in Redding...and we live in Santa Rosa!! Josh's insight, knowledge and personal attention was much appreciated. We would very definitely recommend Josh with no doubt or hesitation. -Bob and Fiona V.
September 14, 2015 We were so pleased with the service provided by Josh and his team. We interviewed three realtors prior to signing with Josh and selected him based upon his knowledge of the market and strategy for promoting the property both locally and outside Shasta County. Josh emphasized his team approach and communications with his clients. The house sold in seven days and escrow went without a hitch. I've bought and sold 10 properties and this transaction was by far the most seamless. Thanks Josh and your team of professionals! -John and Christina B.
September 11, 2015 Over the past 3 years, we have utilized Josh's outstanding services to sell 2 homes and purchase another. Josh is the consummate professional who truly has his clients best interest at heart. In addition, Josh has built an amazing team of real estate professionals who made themselves available through our transaction process. When it comes to real estate, my wife and I are confident that Josh and his team will always be our first call. -Richard M.
September 11, 2015 Buying and selling a home is not just a transaction, it is your life, your family, your fiances and so much more. We have used Josh and his crew on 3 occasions now and have come to know and love them like family. If you are looking for an honest and ethical realtor Josh Barker should be your first and only phone call. We are proud to call him our realtor and our friend. -Mike and Jenny C.
August 21, 2015 The professionalism of Josh Barker and his staff far exceeded any of my expectations. It was the most pleasant experience I have encountered during a transitional period, when change can be so overwhelming. I never doubted that everything was being fully handled on my behalf for the best outcome for me! (And that is saying a lot!). Everyone was knowledgeable, courteous, and communicated so well. I highly trust Josh and feel that he knew the outcome I wanted and made sure that was what occurred. Thank you Josh and Team! -Sharen V.