Feeling squeezed?
According to the latest Case Shiller index, national home prices have been squished down to values not seen in nearly a decade.
Low prices are good, right? Well, not if you’re selling. Good for buyers though.
All real estate is local. Redding’s local newspaper elaborated on the home price news, giving it a local spin. I thought it was accurate.
As the month ends today, I will be looking back at November’s local home sales in a few days.
Thankfullness is over, apparently. The normally thin Monday paper today bulges with Notices of Trustee Sale (NOTS). A bit shocking to find 2 pages of them under our coffee, but in fact it was more than 2 pages.
Some familiar names in there. This is a small town after all. You have our sympathy. NOTSo much to be thankful for today. Black Friday, Cyber Monday, NOTS to you. So many NOTS for us all.
Here’s a brief video about October home sales results statewide from the California Association of Realtors Economist Leslie Appleton Young.
Ran into this interesting interactive map of population migration using IRS data via Forbes and IBM. Click on the link to open the map. Then click on the county you wish to see, and a graphic representation of the migration appears. The web is a wonderful storehouse of graphical info.
Using IRS data. It’s a brave new world of privacy, folks.
Here’s a brief video showing how homes in default are auctioned on the courthouse steps in Redding California. This video came about because a home our client had in a Short Sale was suddenly scheduled to be auctioned here before our client could purchase. Nobody at the bank would agree to delay the auction while the offer was being processed, so I went to the scheduled auction to see it sell, and for how much. Inexplicably, and luckily for my buyer, they delayed the auction 30 days at the last minute. So our Short Sale may yet succeed. Anyway, here’s how it looks at an auction, if you haven’t seen it. After they are acutioned here, most go on to appear as REO homes, and you can always check the most interesting ones daily at the Redding Area Foreclosure Deal of the Day website.
That might even work here. Don’t hold your breath however.
A few days back we posted about this upcoming government owned luxury home near the Tierra Oaks Golf community. There was good interest in it, and we promised to let you know when it had a price. Here it is priced out, asking $486.9K. Representing the seller’s interests in this sale is foreclousre listing agent Freddie Martin of Real Estate 1. We decided to post it over at our Redding Foreclosure Deal of the Day, and you can read more about it and see more iamges at the link.
Here’s a link to a cool slideshow from the LA Times of a contemporary designed small home that looks terrific. I really like how well thought out it is in use of space and light. And of course it would have to be carefully planned. That’s smaller living space than many garages alone in car-centric suburban Redding. Click on the image to go to the slide show.
Click on image to go the slideshow
I’m in the camp that thinks retiring without a mortgage is the best plan. But there are a number of considerations that may make that choice the wrong one for your personal circumstances. Here’s a NYT article that outlines some important factors to consider. Good stuff. Renters, do remember that rents can go up uncontrollably and unpredictably. That can be hard on retirees, so even a mortgage is preferable to renting, in my opinion.
Click on image to read the entire article
Here’s a nice REO home in the Tierra Oaks neighborhood. It’s said to be a 2550 sqft 4/3 on 3 acres. It once listed as high as $526K. We recall it as failed short sale from a while back. Now it’s a Fannie Mae asset, and while it is as yet un-priced, it should be listed shortly. Give us a call if you have an interest and we’ll make sure you are among the first to know when Fannie spins her big wheel and picks a price.
Here’s a fun fact. Use the Zoom Out function in the Google Map below to see the neighbor’s airstrip to just to the south. Nice neighborhood!
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