Shasta County Real Estate Update
Properties, Real Estate News
November 18th, 2009
SHASTA MLS REAL ESTATE UPDATE
Available residential listings: 1,413 (down from 1,422 last week and 1,426 two weeks ago)
Homes in escrow: 450 (down from 467 last week and from 491 two weeks ago)
Homes closed escrow so far in November: 74
Homes closed escrow in October: 188
Homes closed escrow in September: 213
Homes closed escrow in August: 174
Homes closed escrow in July: 181
Homes closed escrow in June: 184
Homes closed escrow in May: 198
Homes closed escrow in April: 142
Homes closed escrow Year to Date: 1764
Should I wait until after the holidays to list my house? No ..here’s some reasons why..
1. Buyers tend to be more serious during the holiday season. Many seeking tax advantage before end of year.
2. Less competition. Many sellers wait until 1st of new year.
3. Homes usually present better and are more welcoming to buyers because of Holiday decorating, cooking, etc.
4. Interest rates low …. may rise after first of January 5. Competition increases after January 1st. Many sellers erroneously believe they need to wait until the new year to sell. Inventory of homes increase 6. You get a marketing head start. Buyers and agents become familiar about your home early, before the new year.
REO/Repo Property Search!
Thinking of buying a REPO? Click here to view all homes that are owned by the bank and currently listed and available through the Shasta MLS Database! Don’t forget to call me if you would like additional information about any of these homes or would like to preview some…I’m here to help!
If you have any questions or comments, as always, please feel free to contact me and have a great week!
Shasta County Real Estate Update
Properties, Real Estate News
November 9th, 2009
SHASTA MLS REAL ESTATE UPDATE
Available residential listings: 1,422 (from 1,426 last week and 1,427 two weeks ago)
Homes in escrow: 467 (down from 491 last week and from 515 two weeks ago)
Homes closed escrow so far in November: 26
Homes closed escrow in October: 188
Homes closed escrow in September: 213
Homes closed escrow in August: 174
Homes closed escrow in July: 181
Homes closed escrow in June: 184
Homes closed escrow in May: 198
Homes closed escrow in April: 142
Homes closed escrow Year to Date: 1712
Obama Signs Homebuyer Tax Credit Extension
RISMEDIA, November 6, 2009—
President Barack Obama has approved the first-time homebuyer tax credit extension which will extend the tax credit until April 30, 2010.
The extension is part of a $24 billion economic stimulus bill that will extend the $8,000 tax credit for homebuyers who are purchasing their first home from the current November 30 deadline and expands the program to offer a credit of $6,500 to homeowners who have lived in their current home for at least five years and are seeking to relocate.
The following details apply to the homebuyer tax credit expansion:
Who is Eligible
-First-time homebuyers, who are defined by the law as buyers who have not owned a principal residence during the three-year period prior to the purchase, may be eligible for up to an $8,000 tax credit.
-Existing homeowners who have been residing in their principal residence for five consecutive years out of the last eight and are purchasing a home to be their principal residence (“repeat buyer”), may be eligible for up to a $6,500 tax credit.
-All U.S. citizens who file taxes are eligible to participate in the program.
Income Limits
Homebuyers who file as single or head-of-household taxpayers can claim the full credit ($8,000 for first-time buyers and $6,500 for repeat buyers) if their modified adjusted gross income (MAGI) is less than $125,000.
-For married couples filing a joint return, the combined income limit is $225,000.
-Single or head-of-household taxpayers who earn between $125,000 and $145,000, and married couples who earn between $225,000 and $245,000 are eligible to receive a partial credit.
-The credit is not available for single taxpayers whose MAGI is greater than $145,000 and married couples with a MAGI that exceeds $245,000.
Effective Dates
-The eligibility period for the tax credit is for homes purchased after Nov. 6, 2009, and before May 1, 2010. However, home purchases subject to a binding sales contract signed by April 30, 2010, will qualify for the tax credit provided closing occurs prior to July 1, 2010.
Types of Homes that Qualify
-All homes with a purchase price of less than $800,000 qualify, including newly-constructed or resale, and single-family detached, townhomes or condominiums, provided that the home will be used as their principal residence. Vacation home and rental property purchases do NOT qualify.
Tax Credit is Refundable
-A refundable credit means that if the amount of income taxes you owe is less than the credit amount you qualify for, the government will send you a check for the difference.
-For example:
-A first-time buyer who qualifies for the full $8,000 credit who owes $5,000 in federal income taxes would pay nothing to the IRS and receive a $3,000 payment from the government. If you are due to receive a $1,000 refund, you would receive $9,000 ($1,000 plus the $8,000 first-time homebuyer tax credit).
-A repeat buyer who owes $5,000 would pay nothing to the IRS and receive $1,500 back from the government. If you are due to get a $1,000 refund, you would get $7,500 ($1,000 plus the $6,500 repeat buyer tax credit).
-All qualified homebuyers can take the tax credit on their 2009 or 2010 income tax return.
Payback Provisions
The tax credit is a true credit. It does not have to be repaid unless the home owner sells or stops using the home as their principal residence within three years after the purchase.
The www.federalhousingtaxcredit.com site is being updated. Check the site next week for more detailed information on the new tax credit.
For more information, visit www.nahb.org.
REO/Repo Property Search!
Thinking of buying a REPO? Click here to view all homes that are owned by the bank and currently listed and available through the Shasta MLS Database! Don’t forget to call me if you would like additional information about any of these homes or would like to preview some…I’m here to help!
If you have any questions or comments, as always, please feel free to contact me (530) 224-6722 and have a great week!
Shasta County Real Estate Update
Properties, Real Estate News
November 2nd, 2009
SHASTA MLS REAL ESTATE UPDATE
Available residential listings: 1,426 (from 1,427 last week and 1,407 two weeks ago)
Homes in escrow: 491 (down from 515 last week and from 523 two weeks ago)
Homes closed escrow so in October: 188
Homes closed escrow in September: 213
Homes closed escrow in August: 174
Homes closed escrow in July: 181
Homes closed escrow in June: 184
Homes closed escrow in May: 198
Homes closed escrow in April: 142
Homes closed escrow Year to Date: 1,663
VOTE ON TAX CREDIT
EXPECTED THIS WEEK
According to Inman News Congress has approved a one-year extension of higher loan limits for mortgages backed by the Federal Housing Administration, Fannie Mae or Freddie Mac, and an amendment that would extend the first-time homebuyer tax credit has been incorporated into a Senate bill to prolong unemployment benefits.
A procedural vote on the unemployment benefit legislation, HR 3548, is expected today, Congressional Quarterly reported, with final passage by the end of the week.
Read the complete story by CLICKING HERE
Shasta County Real Estate Update
Properties, Real Estate News
October 27th, 2009
SHASTA MLS REAL ESTATE UPDATE
Available residential listings: 1,427 (up from 1,407 last week and 1,408 two weeks ago)
Homes in escrow: 515 (down from 523 last week and up from 506 two weeks ago)
Homes closed escrow so far in October: 140
Homes closed escrow in September: 213
Homes closed escrow in August: 174
Homes closed escrow in July: 181
Homes closed escrow in June: 184
Homes closed escrow in May: 198
Homes closed escrow in April: 142
Homes closed escrow Year to Date: 1,615
HOMEBUYER TAX CREDIT UPDATE!
Did you know that if you have co-borrowers for a property that one person can still get the credit even if a co-borrower may not qualify because they own another residence?
Contact me today for more detailed information on the program. Time is almost out to get an accepted offer on a home and be in escrow to be able to qualify for the $8,000 federal tax credit for new homebuyers! Your escrow needs to BE CLOSED by November 30, 2009 and that includes the 30 – 45 days it will take to get your escrow closed once its in escrow.
CAR Urges Senate To Extend Tax Credit!
So, what if you won’t be able to close before that deadline? The California Association of Realtors (C.A.R.) yesterday called for the U.S. Senate to swiftly adopt the Dodd-Lieberman-Isakson amendment, which would extend and amplify the hugely successful first-time home buyer tax credit until June 30, 2010. To read an entire article about this proposal and see how this may affect you Click Here!
Shasta County Real Estate Update
Properties, Real Estate News
October 21st, 2009
SHASTA MLS REAL ESTATE UPDATE
Available residential listings: 1,407 (down from 1,408 last week and 1,419 two weeks ago)
Homes in escrow: 523 (up from 506 last week and down from 533 two weeks ago)
Homes closed escrow so far in October: 92
Homes closed escrow in September: 213
Homes closed escrow in August: 174
Homes closed escrow in July: 181
Homes closed escrow in June: 184
Homes closed escrow in May: 198
Homes closed escrow in April: 142
Homes closed escrow Year to Date: 1,566
Here are some quick notes for Real Estate Statistics for July – September 2009 with great information on how the local real estate market has been handling the national economy crisis. Here’s some quick highlights of those statistics:
- The total number of listings on the market during last quarter was 1151 which was down from both the previous quarter (1,430) and the same quarter in 2008 (1,845)
- The average days on market to get a home sold was 195 last quarter which is up from the previous quarter (156) but down from 218 for the same quarter in 2008
- There were 133 homes sold under $250,000 during last quarter while there were only 112 sold during the previous quarter and 110 sold for the same quarter in 2008
- There were 6.9 months of inventory between $250,000 and $350,000 last quarter which is down from 9.8 the previous quarter and 11.1 during the same quarter in 2008
HOMEBUYER TAX CREDIT UPDATE!
You only have around 5-10 days left to get an accepted offer on a home and be in escrow to be able to qualify for the $8,000 federal tax credit for new homebuyers! Your escrow needs to BE CLOSED by November 30, 2009 and that includes the 30 – 45 days it will take to get your escrow closed once its in escrow. Don’t know where to start? Contact me today for more information about the program and for assistance with learning how to get preapproved!
Shasta County Real Estate Update
Properties, Real Estate News
October 12th, 2009
SHASTA MLS REAL ESTATE UPDATE
Available residential listings: 1,408 (down from 1,419 last week and 1,451 two weeks ago)
Homes in escrow: 506 (exactly the same as last week and down from 533 two weeks ago)
Homes closed escrow so far in October: 59
Homes closed escrow in September: 213
Homes closed escrow in August: 174
Homes closed escrow in July: 181
Homes closed escrow in June: 184
Homes closed escrow in May: 198
Homes closed escrow in April: 142
Homes closed escrow Year to Date: 1,530
I’ve also attached the September 2009 trending report straight from the Shasta Association of Realtors MLS database and Real Estate Professionals GMAC.
HOMEBUYER TAX CREDIT UPDATE!
You only have around 10 days left to get an accepted offer on a home and be in escrow to be able to qualify for the $8,000 federal tax credit for new homebuyers! Your escrow needs to BE CLOSED by November 30, 2009 and that includes the 30 – 45 days it will take to get your escrow closed once its in escrow. Don’t know where to start? Contact me today for more information about the program and for assistance with learning how to get preapproved!
Banks Step Up to Help Habitat For Humanity
Habitat for Humanity Greater San Francisco said Thursday that three banks had stepped up to help fund its plans to acquire and renovate foreclosed homes for use as low-income housing. ”We’re trying to make lemonade out of lemons here,” said Phillip Kilbridge, executive director of the Habitat chapter, which covers the Peninsula, San Francisco and Marin County. “While this crisis exists and there are neglected homes in existing neighborhoods that are selling for prices we can acquire and rehabilitate, we think this is a right and appropriate program for us.” Not only is the program valuable for Habitat for Humanity, neighbors will not see their property values continue to decline for REPO’s in their area! Click Here to read the entire article.
Shasta County Real Estate Update
Properties, Real Estate News
October 5th, 2009
SHASTA MLS REAL ESTATE UPDATE
Available residential listings: 1,419 (down from 1,451 last week and 1,481 two weeks ago)
Homes in escrow: 506 (down from 533 last week and 524 two weeks ago)
Homes closed escrow so far in October: 20
Homes closed escrow in September: 213
Homes closed escrow in August: 174
Homes closed escrow in July: 181
Homes closed escrow in June: 184
Homes closed escrow in May: 198
Homes closed escrow in April: 142
Homes closed escrow Year to Date: 1,486
HOMEBUYER TAX CREDIT PAYS OFF!
This months Year To Date Closed Sales in the Shasta MLS are showing just how much the $8,000 homebuyer tax credit is helping to stimulate our local real estate market. Look above at the “Homes Closed Escrow” category and notice that September is the first month since we’ve been tracking in April that we’ve closed over 200 homes during the month.
Wanting to utilize the credit yourself? You only have around 15 days left to get an accepted offer on a home and be in escrow to be able to qualify for the $8,000 federal tax credit for new homebuyers! Your escrow needs to BE CLOSED by November 30, 2009 and that includes the 30 – 45 days it will take to get your escrow closed once its in escrow. Don’t know where to start? Contact me today for more information about the program and for assistance with learning how to get preapproved!
Shasta County Real Estate Update
Properties, Real Estate News
September 28th, 2009
SHASTA MLS REAL ESTATE UPDATE
Available residential listings: 1,451 (down from 1,481 last week and 1,484 two weeks ago)
Homes in escrow: 533 (up from 524 last week and 525 two weeks ago)
Homes closed escrow so far in September: 149
Homes closed escrow in August: 174
Homes closed escrow in July: 181
Homes closed escrow in June: 184
Homes closed escrow in May: 198
Homes closed escrow in April: 142
Homes closed escrow Year to Date: 1,420
Why Choose a REALTOR® ???
Many people don’t realize that when you select a REALTOR® to represent you when buying or selling a home, your REALTOR® is held to a code of ethics that normal salespeople don’t have to abide by. A few of the ethical parameters all REALTORS® at Real Estate Professionals GMAC are held to include:
1. Be honest with all parties in the transaction – not just with you, as his or her client, but also with the other real estate practitioner and his or her clients.
2. Put your interests ahead of his or her own, at all times.
3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller.
4. Be truthful in all communications with the public.
Remember to contact me (or have your friends and family contact me) with all of your real estate needs! As a REALTOR® I am committed to providing you excellent service!
HOMEBUYER TAX CREDIT – CRUNCH TIME!
You only have around 20 days left to get an accepted offer on a home and be in escrow to be able to qualify for the $8,000 federal tax credit for new homebuyers! Your escrow needs to BE CLOSED by November 30, 2009 and that includes the 30 – 45 days it will take to get your escrow closed once its in escrow. Don’t know where to start? Contact me today for more information about the program and for assistance with learning how to get preapproved!
Outdoor Adventure
North State Activites
February 10th, 2009
Some of the best outdoor adventure is here in Northern California and every chance that I get I take advantage of the scenic North State and all that it has to offer.
Golfing is a great way to get out and enjoy some of the wonderful weather and views that this area has to offer while providing you with a great exerise routine. Here is a list of some of the golf courses that I enjoy:
Take the time to get out and enjoy these great courses, it is a sport that is fun for any level of participant and can make a life long memory with a child or loved one.
One of the best things that you can give is your time and golf is a great way to do that!
PREMIER SERVICE® is the focus of Real Estate Professionals/GMAC. We are located in Redding, CA (at the North end of the Sacramento River Valley) in the midst of river, lake, ranch and mountain terrain.
Our Customer Satisfaction Rating, based on an independent survey, exceeds 97%. This is reflected in our 2008 "QUIE" Award recognizing the TOP 10 REAL ESTATE COMPANIES in NORTH AMERICA! REP/GMAC in #2.
