Chico Buyers
Chico Bank Owned Properties- Search Here!
April 1st, 2008 categories: Chico Buyers, Chico CA Foreclosure Listings
Chico CA Foreclosure Listings!
Welcome to the most comprehensive, up-to-date list of Chico CA foreclosure properties available for sale on the MLS.
Chico (and surrounding areas) Foreclosure Properties Coming Soon!
Want the inside scoop on foreclosure properties not yet listed? The following are scheduled for marketing within the next 30 days:
852 Lindo Lane, Chico
475 Sacramento, Hamilton City
254 E 15th Street, Chico
2136 Rosedale, Oroville
762 1st Avenue, Chico
CHICO FORECLOSURES
1412 N CHERRY STREET Condos $114,900 2bed 1 bath, 864 sqft, built 1982 (Pending)
2200 NOTRE DAME BLVD Condos $119,900 2 bed 1 bath, 864 sqft, built 1981
269 W Rio Bonito, Biggs SFD $138,000 3 bed, 1.5 bath, 1222 sqft, built 1970
1271 E 9TH STREET SFD $160,500 2 bed 1 bath, 1296 sqft, built 1943
2159 SHOSHONEE AVE SFD $174,500 3 bed 2 bath, 1336 sqft, built 1988
2752 KEITH HOPKINS PL SFD, $179,900 3 bed 2 bath, 1221 sqft, built 1997
1527 B Street, Chico SFD $179,900 3 bed 2 bath, 1108 sqft, built 1989
569 WHITE AVE SFD $194,000 3 bed 1 bath, 989 sqft, built 1959
946 EATON RD SFD $194,900 3 bed 2 bath, 1167 sqft, built 1973 (Pending)
2099 HARTFORD DR SFD $199,900 3 bed 2 bath, 1382 sqft, built 2005
87 KEY WEST LOOP SFD $219,000 3 bed 2 bath, 1126 sqft, built 2006 (Pending)
709 POMONA AVE Duplex ($219,900) 2 bed 1 bath, 1436 sqft, built 1948
8 SUN CIRCLE CT SFD $219,900 3 bed 2 bath, 1160 sqft, built 1986
2701 REVERE LN SFD $225,000 4 bed 2.5 bath, 1516 sqft, built 1994
1276 CALLA LN SFD $227,424 4 bed 1.5 bath, 1746 sqft, built 1963 (Pending)
1081 REY CIR SFD $232,900 4 bed 1.75 bath, 1414 sqft, built 1972 (Pending)
15 GLENSHIRE LN SFD $235,900 4 bed, 1.5 bath, 1305 sqft, built in 1987
747 WATERFORD DR SFD $237,450 3 bed 2 bath, 1374 sqft, built 1980
23 GLENSHIRE LN SFD $239,000 4bed 1.5 bath, 1305 sqft, built 1987 (Pending)
1482 DAYTON RD SFD 2 bed 1 bath, 1001 sqft, built 1990 $249,500
713 WAYNE LN SFD $265,500 4 bed 2 bath, 1525 sqft, built 1956
3106 GRAPE WAY SFD $268,090 3 bed 2 bath, 1820 sqft, built 1935
4330 KEITH LN SFD $269,000 3 bed 1.5 bath, 1392 sqft, built 1976 (Pending)
2718 CEANOTHUS AVE $279,900 3 bed 3 bath, 2060 sqft, built 2006
100 BENSON TERR SFD $279,900 3 be, 2 1/2 bath, 1967 sqft, built 2004
1260 RAVENSHOE WAY SFD $287,000 4 bed 2.5 bath, 1532 sqft, built 1997 (Pending)
2 WINDMILL CT SFD $289,000 3 bed 2 bath, 1573 sqft, built 1980 (Pending)
2631 SAN JOSE ST SFD $289,900 4 bed 3 bath, 2135 sqft, built 1960
25 BUNKER CT SFD $299,900 3 bed 2 bath, 1801 sqft, built 2003 (Pending)
13200 HAMILTON NORD SFD $325,000 3 bed 2 bath, 1888 sqft, built 1976
1134 11TH AVENUE SFD $335,300 3 bed 2 bath, 1853 sqft, built in 2004
305 MESA VERDE COURT SFD $347,624 4 bed 3 bath, 2325 sqft, built 2005 (Pending)
832 JACOBS CT SFD $359,900 3 bed 2 bath, 1760 sqft, built 1999
3006 TOP HAND CT SFD $379,900 3 bed 2.5 bath, 2336 sqft, built 1980
2721 ESCALLONIA WY SFD $439,000 4 bed 3 bath, 2435 sqft, built 2001
454 BROOKSIDE DRIVE SFD $498,000 3 bed 3 bath, 2811 sqft, built 1993
3517 SHADOWTREE LN SFD $549,000 3 bed 3 bath, 3240 sqft, built 2004
10696 PLAYER LN SFD $649,900 3 bed 3 bath, 3342 sqft, built 2005 (Pending)
2766 ALAMO AVE SFD $695,000 4 bed 3 bath, 3600 sqft, built 1996
LOS MOLINOS FORECLOSURES
24890 KELLIE WAY SFD $199,900 3 bed 2 bath, 1252 sqft, built 1968
MAGALIA FORECLOSURES
13996 JARVIS CIR MFD $89,000 3 bed 2 bath, 1536 sqft, built 1976
13721 ENDICOT CIR MFD $129,500 2 beds 2 baths, 1616 sqft, built 1979
14549 CARNEGIE RD SFD $159,000 3 beds 2 baths, 1486 sqft, built 1992
13695 ANDOVER DR SFD $168,900 3 bed 1 bath, 1564 sqft, built 1982
14569 ASHEVILLE DR SFD $169,900 2 bed 2.25 bath, 1738 sqft, built 1981 (Pending)
13980 CASCADE DR SFD $172,500 3 bed 1.75 bath, 1080 sqft, built 1980
6560 HURON CT SFD $209,900 2 bed 2 bath, 1260 sqft, built 1980
14560 CARNEGIE RD SFD $212,900 2 bed 2 bath, 1751 sqft, built 1979
14569 ASHEVILLE DR SFD $219,900 2 bed 2.25 bath, 1738 sqft, built 1981
15220 SKYWAY SFD $225,000 3 bed 2 bath, 1696 sqft, built 1979
14658 BRIDGEPORT CIR SFD $261,250 3 bed 2 bath, 1903 sqft, built 2005
ORLAND FORECLOSURES
801 PECAN ST SFD $145,000, 3 bed 1.5 bath, 1080 sqft, built 1986
1311 FAIRVIEW ST SFD $145,500 3 bed 1 bath, 1000 sqft, built 1993
802 DATE ST SFD $149,900 3 bed 2 bath, 1080 sqft, 1988
803 PECAN CIR SFD $152,900 3 bed 2 bath, 1080 sqft, built 1986
1309 FAIRVIEW ST SFD $169,000 3 bed 1.5 bath, 1080 sqft, built 1993
802 DATE ST SFD $169,900 3 bed 2 bath, 1080 sqft, built 1988
611 WOODWARD AVE SFD $190,000 3 bed 2 bath, 1402 sqft, built 1948 (Pending)
778 JACQUELYN DRIVE SFD $249,900 3 bed 2.5 bath, 1773 sqft, built 2006
120 THIRD STREET SFD $259,000 3 bed 2 bath, 2063 sqft, built 2005
6202 CO RD 15 SFD $299,900 3 bed 2.5 bath, 2300 sqft, built 1977 (Pending)
OROVILLE FORECLOSURES
2364 A STREET SFD $69,900 2 bed 1 bath, 864 sqft, built 1935 (Pending)
881 POMONA Ave SFD $78,900 2 bed 1 bath, 988 sqft, built 1921 (Pending)
2985 ELGIN ST SFD $78,500 1 bed 1 bath, 444 sqft, built 1964
2765 ORO BANGOR HWY SFD $84,900 3bed, 1bath, 1008 sqft, built in 1987
292 APACHE CIR SFD $91,080 2 bed 2 bath, 1440 sqft, built 1976
29 ROSITA WAY SFD $98,000 3 bed 1 bath, 960 sqft, built 1963 (Pending)
2151 OROVILLE BANGOR Duplex! $99,900 built 1954
1080 TEHAMA AVE SFD $104,900 1 bed 1 bath, 912 sqft, built 1949
118 NELSON AVE SFD $109,990 3 bed 2 bath, 1552 sqft, built1965
2126 GRAY ST SFD $120,900 3 bed 2 bath, 1080 sqft, built 1992
3451 ORO BANGOR HWY SFD $134,900 3 bed 1 bath, 1266 sqft, built 1950
1020 BUTTE AVE SFD $139,900 2 bed 1 bath, 1030 sqft, built 1959
1604 SWEEM ST SFD $149,000 4 bed 2 bath, 1597 sqft, built 1960
1687 LETA LN SFD $152,600 2 bed 2 bath, 1038 sqft, built 1978
220 CANYON DR SFD $149,900 4 bed 2 bath, 1894 sqft, built 1954
18 WESTWOOD WAY SFD $158,900 3 bed 2 bath, 1152 Sqft, built 1979
853 HARLAN AVE SFD $159,900 3 bed 1 bath, 1088 sqft, built 1951
3081 ORANGE AVE SFD $161,000 3 bed 2 bath, 1443 sqft, built in 1954
1445 7TH AVENUE SFD $173,000 2 bed 1 bath, 1228 sqft, built 1925
11 GLEN CIR SFD $178,900 3 bed 2 bath, 1936 sqft, built 1963
37 SELF LN SFD $184,000 2 bed 1 bath, 1240 sqft, built 1982 (Pending)
21 LA CRESENTA DR $189,900 3 bed 2 bath, 1338 sqft, built 1951
3131 TRES VIAS RD $199,900 3 bed 2 bath, 1787 sqft, built 1968
30 RIDGE LINE CT SFD $204,900 2 bed 2 bath, 1381 sqft, built 1990
105 ANTLER DRIVE $221,900 4 bed 2 bath, 1687 sqft, built 2005 (Pending)
17 LA FORET DR SFD $259,900 3bed 3 bath, 2344 sqft, built 1983
3615 HILDALE AVE SFD $277,200 3 bed 2 bath, 1778 sqft, built 1961
2680 HWY 70 SFD $339,900 2 bed 2 bath, 1836 sqft, built 1981
PARADISE FORECLOSURES
6221 CLARK RD SFD $99,900 1 bed 1bath, 1182 sqft, built 1955 (Pending)
1835 DRENDEL CIR SFD $114,900 4 bed 1 bath (Pending)
6338 DIAMOND AVE SFD $129,900 2 bed 1 bath, 1147 sqft, built 1949 (Pending)
1537 SYLVAN WAY SFD $130,000 2 bed 1 bath, 1056 sqft, built 1954 (Pending)
5371 SAWMILL RD SFD $139,000 2bed 1 bath, 1014 sqft, built 1950 (Pending)
5757 HOLLY LN SFD $139,900 1bed 1 bath + den, 1080 sqft, built 1948
6340 TABERNACLE LN SFD $139,900 2 bed 2 bath, 1058 sqft, built 1949 (Pending)
5571 KEITH LN SFD $144,900 2 bed 1 bath, 904 sqft, built 1940
6399 LUCKY JOHN RD SFD $144,900 2 bed 1 bath, 1065 sqft, built 1948 (Pending)
463 VALLEY VIEW DR SFD $138,000 2 bed 2 bath, 1020 sqft, built 1947 (Pending)
1115 NUNNELEY SFD $150,900 3 bed 2 bath, 1626 sqft, built 1950
1462 ELLIOTT RD SFD $158,900 2 bed 1 bath, 1064 sqft, built 1954 (Pending)
1481 MAGGIES LN SFD $159,900 2 bed 1.5 bath, 996 sqft, built 1980
6893 LUNAR LN SFD $164,900 2 bed 1.5 bath, 988 sqft, built 1970
6104 OLIVER RD SFD $169,900 2 bed 1 bath, 1054 sqft, built 1950 (Pending)
1363 PEARSON RD SFD $177,900 3 bed 1 bath, 1056 sqft, built 1988 (Pending)
5575 SIERRA PARK DR SFD $190,000 3 bed 2 bath, 1420 sqft, built 1948
5811 PERRY MASON LN SFD $195,000 2 bed 1.5 bath, 1799 sqft, built 1956
490 WILLS LN SFD $199,900 3 bed 2 bath, 1505 sqft, built 1976 (Pending)
616 CIRCLEWOOD DR SFD $209,000 2 bed 2 bath, 1520 sqft, built 1979
5892 COPELAND RD SFD $225,000 3bed 2 bath, 1715 sqft, built 1966
1658 JARAMILLO SFD $239,000 2 bed 2 bath, 1530 sqft, built 2006
1752 WHITAKER RD SFD $239,900 3 bed 1.5 bath, 1435 sqft, built 1962 (Pending)
1635 ALEXIS LN SFD $262,000 6bed 3 bath, 2977 sqft, built 1981
6479 GREGORY LN SFD $269,900 4 bed 2 bath, 2088 sqft, built 1985 (Pending)
6165 SAWMILL RD SFD $269,900 4 bed 2 1/2 bath, 1936 sqft, built 1979
1246 ELLIOTT RD SFD $345,000 4 bed 3 bath, 2236 sqft, built 1960
3366 HAMLIN CANYON CT SFD $ 384,900 4 bed 3 bath, 2548 sqft built 1992 (Pending)
3591 SUNVIEW RD SFD $389,900 3 bed 2.5 bath, 2107 sqft, built 2002
WILLOWS FORECLOSURES
319 N SHASTA STREET SFD $85,000 2 bed 1 bath, 703 sqft, built 1950 (Pending)
1052 ELM ST SFD $121,900 2 bed 1 bath, 958 sqft, built 1970 (Pending)
651 GLENNWOOD LN SFD $125,000 3 bed 2 bath, 1354 sqft, built 1979 (Pending)
430 W ASH ST SFD $145,000 3 bed 1 bath, 1535 sqft, built 1910
833 W SYCAMORE ST SFD $149,500 3 bed 1 bath, 1100 sqft, built 1915
695 E WOOD ST SFD $145,000 3 bed 2 bath, 1200 sqft, built 1940 (Pending)
1271 E 9TH STREET SFD $168,500 2 bed 1 bath, 1296 sqft, built in 1943
612 GLENNWOOD LN SFD $174,900 3 bed 2 bath, 1100 sqft, built 1972
| Discussion: 1 Comment »
5 Reasons to Get Preapproved for A Chico CA Real Estate Home Loan
January 23rd, 2008 categories: Anatomy of a Chico CA Real Estate Transaction, Chico Buyers
A question that is commonly posed to me by Chico Buyers looking for a new home is, “Why do we need to be preapproved for a property?”
Looking for a little approval? by Mike Wiegert, Broker Chico Homes
Many buyers question this common practice and even resent that their Realtor would suggest the necessity of being preapproved. But in the real estate world there are significant reasons that a buyer would want to get preapproved. The bottom line is that even though many of us want to give the benefit of the doubt, people just don’t really trust other people that they don’t know. Having stated this basic premise, here are some important reasons to get preapproved for a mortgage before you make an offer on a home.
1. First and most important is that the preapproval process allows a buyer
to really know what price range he or she should be looking in or what
they realistically can afford. Who wants to make an offer on the home
of your dreams only to be turned down by a lender for reasons such as
insufficient income, poor credit or maybe an inadequate job history. I
promise, you’ll sleep much better if you know what you can afford and
that you can actually get a loan.
2. As a buyer you will be infinitely more comfortable to the Seller if
your offer is accompanied by a preapproval letter from a reputable or well
known lender. This is especially true if you are competing against other offers. If all offers are the same, I can guarantee that the offer that has a preapproval letter attached will be the winner. Also, if the home is offered as a foreclosure by a lender, that lender will probably not even consider your offer if it is not accompanied by a preapproval letter.
3. Preapproved buyers are able to close their escrow more quickly. I recently had a client call me two weeks before her home, which is in foreclosure, was due to go to sale. By the way, if you’re in foreclosure, don’t do this. Foreclosures don’t go away by themselves so call a trusted Realtor or attorney to weigh your options. Luckily, one of my agents had a preapproved buyer interested in purchasing a home in the price range and area of this home. Because of the preapproval, the buyer was able to close the escrow just two days prior to the foreclosure sale. So if you’re in a hurry to get in your new home or you have a Seller that needs to close quickly, being preapproved can really be an asset.
4. Besides minimizing the uneasiness of not knowing if you can qualify, you’ll know what loan programs suit your particular needs. There are literally hundreds of loan programs and a skillful loan agent or broker can really tailor a loan that not only gets you into a new home, but can solve many other financial problems as well.
5. Lastly, your lender will give you a written good faith estimate of closing costs and fees so that you will know exactly what you’re going to need to close your new home. With interest rates well into the fives, it’s not only a great time to buy, but a fantastic time to get yourself preapproved.
Need a recommendation for a reputable Chico lender? I would be happy to assist you!
More on prequalification:
What is the Difference between Prequalification and Preapproval?
Why Should I Get Preapproved for a Chico, CA Home?
Paperwork you need to get approved for a CA Mortgage
Your Chico CA Loan Application- It’s Not THAT Hard!
Lenders beware: How to lose a Chico, CA Realtor (and therefore buyer) in 3 days
| Discussion: 6 Comments »
How NOT to Pick a Real Estate Agent!
January 10th, 2008 categories: Chico Buyers, Chico Sellers
Hiring the right real estate agent in Chico can mean the difference between a successful transaction and a potential financial and emotional disaster.
For most people, finding the right real estate agent is a difficult process. Successful Realtors and mortgage brokers alike witness the frustration and despair of buyers and sellers that are poorly represented. Honestly, it’s painful to watch. Save yourself the nightmare! Read on.
I ran across an article written by Rob K. Blake over at The Mortgage Insider Blog who sounded an awful lot like me! His article explained how NOT to hire a realtor, while mine specified how TO hire a Realtor!
Rob: Real Estate Help – How NOT to Pick a Real Estate Agent
Sandi: How to Hire a Chico, CA Realtor and Make More Money!
Rob says “Don’t be lazy. Do your own research. A significant chunk of finding good real estate help is getting educated yourself.”
Rob and I agree that your family, friends, and neighbors may not be your best choices when hiring a Realtor. Don’t feel obligated to entrust the largest investment of your life to Aunt Ethel, Cousin Clyde or neighbor Nate, just because you “know” a Realtor.
Rob made a very astute observation when interpreting information from the Bureau of Labor Statistics.
If the average Chico real estate agent earns about $35,000 per year, they are only completing about 5 transactions!
Ouch!
Rob says, “Five closed deals per year hardly makes one a “pro.” In my mind, it makes them a rookie and at that pace, they’d stay a rookie for over 20 years. Hire the most experienced professional you can lay your hands on! The best way to determine experience is by the number of transactions an agent is handling monthly or yearly. The agent’s production is going to give you the best indication of how committed they are and how much real estate help they’ll provide.
I fully agree that experience and competence are highly critical attributes to consider when searching for a Realtor. However, I would also urge you to consider that not ALL top producers will be a good fit for each consumer. Some are ethical, nice people… some are not.
Depending on what you’re looking for in a Realtor, it’s important that you also connect with your real estate agent of choice on a personal level.
Shake their hand, look them in the eye, listen to them talk, and READ their blog! You can gain a lot of perspective about how your Realtor will work to protect YOU by investing just a few valuable minutes getting to know them.
Like what you’re reading?
Subscribe to: Chico CA Real Estate Blog and MLS Listings Search!
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 9 Comments »
Buying vs. Renting: Be Your Own Landlord
January 8th, 2008 categories: Chico Buyers
by guest writer Mike Wiegert
In times of very low interest rates and a significant dip in the market, purchasing a primary residence in Chico might be the opportune thing to do.
The Government National Mortgage Association’s (Ginnie Mae) website has a very interesting calculator that can show a buyer the benefits of buying vs. renting over a ten year period. Ten years might seem like a long time but just as your grandfather’s Chico Realtor said to him, real estate is a long term investment.
The website uses the example of someone buying a home for $150,000 vs. renting a home for $750.00 per month. Ginnie Mae’s calculator makes a general comparison between a given home price and it’s relative monthly rental value. The example factors in a modest two percent annual appreciation and normal expenses for taxes, insurance, cost of selling, income tax savings, rental increases and mortgage insurance.
The end result: a buyer will save over $34,000 in the ten year period!
Chico real estate for sale rarely comes priced at $150,000, so I adjusted the calculator to a modest $250,000 price and put in a current interest rate of 6.3 percent. I also factored in $1,100.00 per month rent. The 10 year savings was $56,525. That kind of savings really makes you want to think about the value of the freedom of renting in Chico, doesn’t it?
Subscribe to: Chico CA Real Estate Blog and MLS Listings Search!
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 4 Comments »
Paperwork you need to get approved for a Chico CA Mortgage
January 7th, 2008 categories: Chico Buyers, Chico Financing
Here is an easy list of paperwork you will need to provide your lender in order to get approved for a loan on a Chico residential property. It’s really not that bad- I promise!
If you are an employee, make copies of:
- · Pay stubs for the last 30 days
- W-2s for the past two years
- · Bank statements for the past two months (all pages!)
- Current statements for any other assets such as a 401K or mutual fund.
If you own a business, bring:
- Income tax returns for the past two years
- A current balance sheet for your business
- A year-to-date profit and loss statement
If you receive additional income (child support, disability, income property, etc.) bring:
- Income tax returns for the past two years
- Copy of current lease(s) for rental property
- Any other evidence that proves you are receiving income from other sources
Miscellaneous items to bring:
- A phone number for your employer, so that employment can be verified
- A copy of the purchase agreement signed by all parties (your Realtor can help here)
- A copy of your driver’s license
I realize that the thought of compiling this set of documents can seen overwhelming. After all, there are hours to be worked, school to be attended, children to feed, laundry to do, and bills to pay. I know the argument all too well! However, if you dream of purchasing Chico CA Real Estate and becoming a homeowner, it is time well spent!
Also read:
Your Chico CA Loan Application- It’s Not THAT Hard!
What is the Difference between Prequalification and Preapproval?
Why Should I Get Preapproved for a Chico, CA Home?
Like what you’re reading?
Subscribe to: Chico CA Real Estate Blog and MLS Listings Search!
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 5 Comments »
Your Chico CA Loan Application- It’s Not THAT Hard!
January 5th, 2008 categories: Busy Girls Guide, Chico Buyers, Chico Financing
I haven’t quite figured out the rationale, but the prospect of getting prequalified or preapproved is often an intimidating process for a Chico Buyer.
For some reason, folks will often avoid it as long as possible, and build it up in their minds to be some horrible, awful procedure. I find myself listening to every imaginable excuse, and smiling, because I know that a mountain is being made of a molehill. It’s kind of like trying to convince your kids that if they would just put the broccoli in their mouth, they will get it over with, and can then move on to the ice cream!
- First off, a buyer does not have to go to the hassle of making an appointment. No need to get dressed, leave the house, and make your way to a stuffy, intimidating office with some guy in a 3 piece suit! In this age of convenience, many lenders will accommodate your request for prequalification by phone, fax or email. In the span of a short phone call, the lender can get the basic information he needs from you to start the process.
- Second, just because you talk to a lender to get prequalified, it doesn’t mean you’re married for life! You may decide, after your initial phone call, that you don’t like the way the lender chews gum in your ear. You might also decide, after talking to your best friend, that the lender isn’t very reputable. Fine. NEXT!
- Third, finding a great Lender shouldn’t be difficult. It should be fairly easy considering you have an excellent resource for a referral in your Chico Realtor. Consider, for a moment, that you’ve already done the work to find a top producing, highly recommended, ethical Realtor that you can actually talk to. Doesn’t it stand to reason, that the Realtor, given the choice, will choose to recommend another professional that will the get the job done efficiently and effectively, thereby ensuring a happy buyer? (In case you’re wondering, there is no $ passed between the lender and the Realtor. The payoff to a referral, is a job well done for the client).
Need a recommendation for a good Chico Lender? Call me.
Related articles:
What is the Difference between Prequalification and Preapproval?
Why Should I Get Preapproved for a Chico, CA Home?
Lenders beware: How to lose a Chico, CA Realtor (and therefore buyer) in 3 days.
Like what you’re reading?
Subscribe to: Chico CA Real Estate Blog and MLS Listings Search!
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 9 Comments »
New Year’s Resolutions: Get Yourself Ready for Your First Chico Real Estate Investment
January 1st, 2008 categories: Anatomy of a Chico CA Real Estate Transaction, Busy Girls Guide, Chico Buyers
Hoping to purchase your first Chico CA home in 2008?
Here are a few items that should be on your New Year’s Resolution list if you want to earn that coveted title: Chico CA HOMEOWNER!!
1. Speak to a local lender. First and foremost, talk to a reputable lender. If you need a recommendation, I would be happy to provide you with a name I respect. A good lender will run a detailed credit history report right away so you know what you have to work with. If the numbers are doable, the lender can then give you an idea of what price range you might be comfortable in searching for a Chico home.
On the other hand, if opportunities to improve your score are available, the lender can offer you suggestions of what to work on, and how soon you might qualify for a more appealing loan package. Read more on the prequalification process:
What is the Difference between Prequalification and Preapproval?
Why Should I Get Preapproved for a Chico, CA Home?
2. Start considering what features in a home are most important to you. Do you need room for 5 dogs to run around? Do you love to cook? Do you need storage space for 50 pairs of shoes? How critical is a garden tub in the master bath? Do you want to be able to walk to the grocery store?
It may seem like putting the cart before the horse, but I would encourage first time home buyers to really put some thought into what home features will fill their individual needs. It’s better to save yourself time trekking in and out of tons of open houses that you won’t end up liking once your common sense kicks in. Try to narrow in on what will actually work for you.
3. Get a feel for neighborhoods and schools. Again, what sort of home will your lifestyle dictate? Do you want your children within walking distance of schools and friends? Or will a 15 minute drive each night to the seclusion of your own acreage be more fulfilling? Do you want to park yourself in between homes full of college kids, just because the house has a “vintage” feel, or would you prefer to be in a more quiet, traditional neighborhood full of working professionals? Whenever I’m researching a new neighborhood, I spend a LOT of time driving around. Consider not only the types and sizes of homes, but the vehicles in the driveway (perhaps on the lawn?), the proximity to local services and your place of business. If possible, talk to the locals! You will find out everything you ever wanted (and more), by simply approach the folks walking around the block.
4. Start packing! You will be grateful when the time comes to actually move that you put in the effort now to start organizing. Clean out those closets, box up unused items in the kitchen and the garage, and prepare yourself mentally to relocate. Get some of that physical work out of the way now and relieve yourself of some intense stress later.
5. Save for that down-payment and good faith deposit. Last, but definitely not least, start saving and planning for your down-payment and closing costs. While there are 100% financing options available, they aren’t always your best bet in the long run. If you can at least come to the table with your closing costs covered, you will be in better shape.
What is a Good Faith Deposit, and Why Do I Need One?
Getting organized, preparing financially, and gaining knowledge about where you will be living will help make choosing your Chico real estate investment as smooth as possible.
Happy house-hunting!
Subscribe to: Chico CA Real Estate Blog and MLS Listings Search!
Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 7 Comments »
First Time Home Buyer Disaster- Don’t Let This Happen to You!
December 28th, 2007 categories: Chico Buyers, Chico CA Real Estate News, Chico Financing
Don’t mess with your credit or change employment until your Chico escrow closes!
While perusing a fellow blogger Janis Gagliardi’s recent post it occured to me that the message bears repeating for potential Chico CA buyers.
Here is the full story, courtesy of PortOrangeJuice.
I myself have had two different buyers in the past year or so that were stopped cold in their path to purchasing a new home. In a nutshell, the escrows had progressed to within a day or two before the closing. In both cases, the lenders re-checked the buyers credit and employment status just minutes prior to funding the loan.
1. The first couple had just charged new appliances to their credit card the day before. In doing so, they knocked their qualifying ratios out of whack just enough to destroy their loan package.
2. My second buyer either quit her job or was fired on Wednesday.When the lender checked with her employer on Monday, all bets were off! No job, no loan.
Apply Janis’ tips to ensure you close escrow on your Chico dream home!
DO NOT increase your credit card balances and or loan balances
- DO NOT apply for additional or new credit, or put balances on a paid credit card
- DO NOT ignore late payments and/or collection notices that during the course of your loan
- DO NOT purchase anything that is “the same as cash” – it will show on your credit report as a debt
- DO NOT buy furniture, cars, or appliances until after closing. What good is furniture if you don’t have a new home to put them in!
- DO NOT lend money to family members, friends, etc. if you need it for closing.
- DO NOT store your money at home. Place it in a bank account so that it can be documented as savings throughout the loan process.
- DO NOT have overdrafts on your checking account.
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Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 7 Comments »
What is a Good Faith Deposit, and Why Do I Need One?
November 25th, 2007 categories: Anatomy of a Chico CA Real Estate Transaction, Chico Buyers, Chico Sellers
I’m always a little surprised when I sit down to write a purchase offer on Chico CA Real Estate for a new buyer, and they don’t have their checkbook with them!
It seems that many buyers don’t know that they are expected to submit a good faith deposit with their offer to purchase a property. I often hear “Oh…. um… JEEZ! I forgot my checkbook!” Unfortunately, in California, a contract must have consideration (a deposit) to be valid.
A good faith deposit is an amount of money that the buyer submits with the offer to show that he or she is acting in good faith and intends to fulfill the terms of their agreement.
The deposit basically says to the seller, “I want your house badly enough, I’m willing to put my money where my mouth is!”
The amount of an acceptable good faith deposit varies widely by region.
In Chico, CA, a good rule of thumb is to offer about 1% of the purchase price for every 30 days in escrow. In other words, if you are offering on a $300,000 home and you are requesting a 60 day escrow, a $6,000 deposit will probably fit the bill. This is a very loose rule, however, and each transaction should be considered carefully. For instance, in a strong buyer’s market, it is likely that a buyer can offer a smaller deposit without too much grumbling from the seller. However, in a competitive situation where the property is bringing in multiple offers, a buyer can help make his offer more appealing by providing a more substantial deposit.
Your good faith deposit is typically held by the broker who is writing the offer for you. If I was acting as your buyer’s agent, I would accept the check on the seller’s behalf. Chico Homes would then hold it in a separately maintained trust account until your offer was accepted by the seller. Within 3 days of acceptance, the deposit is required to be deposited with the title company that will be handling the escrow. Your check should always be made out to the title company, not the agent you are working with, or the company where they are employed!
The seller is only entitled to keep your good faith deposit in the event that you, the buyer default on the contract.
It is important that you are very clear as to the terms you are agreeing to. If the contract says you have 17 days to complete your investigations, and you decide on day 25 that you no longer want the property because the house next door has barking dogs, you may sacrifice your deposit! Be sure to work with your trusted Realtor to adhere to the terms and timelines specified in the contract.
If the transaction proceeds without issues, the deposit is typically applied to the closing costs the buyer will incur during the escrow. In the event that both buyer and seller agree to terminate the contract, the buyer can receive his deposit back minus any inspection costs that he may have agreed to.
Have more questions? I’m happy to answer them! Sandi 530-864-5407
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Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 10 Comments »
What Am I Thankful For…
November 21st, 2007 categories: Chico Buyers, Chico CA Real Estate Market Stats, Chico CA Real Estate News, My Opinion on Things
by guest writer Mike Wiegert, broker, Chico Homes
At this time of holiday cheer and good will towards men, I really feel the need to express my gratitude and thanks for the many blessings in my life.
First there is the love of a healthy family and friends. Next, I’m grateful for my own personal health and well being. I’m thankful that none of my sons are involved in an unnecessary war in a desperate land thousand of miles from home. I’m grateful that I live in a community like Chico, CA where a day never goes by without a hearty greeting from someone I’ve haven’t seen for a while. And I can’t forget to mention how thankful I am to be a Realtor in these times of prosperity and exceptional market conditions.
WHAT? WHOA! STOP! HALT! SCREECH!
What did that idiot just say? Is that the same market that we’ve heard about with desperate sales situations and real estate salespeople jumping off bridges or scurrying to find other skilled occupations. (Would you like fries with that?) Yes, that’s the market I’m talking about.
It’s all a matter of perspective.
We’ve all read horror stories sensationalized by our newspapers nationwide about the failing real estate market. We heard about how the bottom is falling out, and how families have lost tens and hundreds of thousands of dollars in equity in their homes. We know about foreclosures and short sales being on the rise.
Did you see, however, an article that stated that by Thanksgiving week, members of the Chico Multiple Listing Service had sold and closed $825,000,000 in real estate since January ONE?
That’s EIGHT HUNDRED AND A QUARTER MILLION, PEOPLE!
Gosh, that really sounds terrible to me. Did you also read that the highest sales volume in Chico MLS history was the record year of 2005 at a whopping $1,250,000,000? At the current rate, Chico CA Realtors are projected to sell $927,000,000 in Chico CA real estate or about 74 percent of the volume of sales of that highest, greatest real estate sales year of all time! Year 2007 is shaping up to be the third largest volume of sales in Chico Multiple Listing Service history.
I’m thankful that mortgage rates are staying at historical lows, often in the high fives to low sixes. At risk of sounding like your Grandpa, I remember selling (or trying to sell) real estate in Chico, CA in the eighties when interest rates were in the 18 to 20
percent range. The point is that interest rates are incredibly low, and it’s a fantastic time to buy. If you read my article last week about short sales, it was a shout out to all the buyers out there. We’re talkin’ OPPORTUNITIES, PEOPLE!
I’ll leave you with this thought: you can read all the sensational negative news available, but remember that our local market is strong, and it’s a great time to be involved.
Have you every heard anyone say, “I wish I hadn’t bought so much Chico CA real estate in my lifetime.” I didn’t think so. How about, “I wish I had bought MORE real estate!”
I rest my case.
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Looking to buy or sell Chico CA Real Estate? Need a Top Producing Chico CA Realtor? Call Sandi Bauman 530-864-5407 or email [email protected]. Specializing in REO, residential, relocation, investment & ag property.
| Discussion: 8 Comments »
