My Opinion on Things
Chico CA Real Estate News
When Business Gets in the Way of Blogging
February 19th, 2008 categories: Chico CA Real Estate News, My Opinion on Things
Business, for me, sometimes gets so crazy I feel that I’m barely keeping my head above water.
Every couple of months, it just seems to hit all at once! I find myself working 12-15 hour days just to stay on top of the details.
As much as I’ve disliked not attending to my blog regularly the past couple of weeks, I’ve had several critical transactions in front of me that necessitated my full attention. 24 hours a day doesn’t seem quite enough, let alone leave time to do any blogging!
I’ve worried a great deal about what my peers and readers must be thinking when I disappear from the blogosphere.
It’s occurred to me that I might appear to be inconsistent, undisciplined, or untrustworthy. I can’t tell you how much the idea bothers me, or how far from the truth it actually is! Unfortunately, I am not superhuman, and something has to give. In this case, it is posting to my blog.
I have made the business decision to NOT delegate critical tasks to a team member, and above all, quality customer service is imperative.
When seriously stretched for time, I choose to focus my efforts on clients that need my immediate attention.
The good news is this: when YOU are ready to move forward, you can rest assured that my attention will be on YOUR transaction- not on procuring new Chico buyers and sellers, blogging, social networking, or anything else that takes time away from your file.
After all, YOUR deal is the most important of them all, is it not?
Thank you for your patience! Though I might take a break now and then, I will always be working to bring helpful posts to The Pink Couch. Some days are just harder than others!!
| Discussion: 8 Comments »
Chico CA Realtor: Do You Want Yours Black and White or Sugar Coated?
December 13th, 2007 categories: Chico CA Real Estate News, My Opinion on Things
I recently had a client tell me that I was a “black and white” Chico CA Realtor.
“Of course I am!” was my first thought.
“Why would you want me to be any other way?” was my second thought.
I wouldn’t want my lawyer, or accountant or doctor to sugar-coat the truth for me. Why would a buyer or seller not want their Realtor to be straight up? We had a very interesting, light-hearted debate over lunch as to the virtues of “telling it like it is” versus “sugar-coating” (my term, not his). Given the excellent company, great Mexican food and a couple of Coronas, the discussion was enjoyable and thought-provoking, to say the least.
In my opinion, the contracts that we utilize to transfer Chico CA Real Estate ARE pretty “black and white.” An entire team of lawyers worked together to ensure they were as accurate and airtight as possible. They constantly review and adjust them. I believe it is in my client’s best interest to respect the contract and the authority it has, rather than test the system and jeopardize the possibility of realizing his real estate goals. Not to mention the issue of opening himself up to other possible negative consequences (IE: loss of deposit, delay in obtaining a property, loss of prime interest rate, etc.)
For instance: if the contract specifies that the good faith deposit is to be deposited into escrow within 3 days, I recommend that the client deposits it within 3 days. Period. There is no wiggle room. The buyer has defaulted if he chooses NOT to deposit within 3 days, and the seller can cancel the contract should he wish to do so. To me, this is very black and white, and I will explain it as such. You either follow the rules, Mr. Buyer, or risk losing the house to a buyer who does.
As a Chico CA Realtor representing a client, I will call it as I see it, because it’s my job to protect my client’s interests. Oftentimes, I find the client simply does not understand the contract or the possible repercussions of not following it, and therefore behaves in such a way that he risks the very goals towards which he is striving. I simply don’t have it in me to sugarcoat the negative possibilities. For most people, a real estate purchase is one of the largest and most important of their lives. I feel they deserve to understand the full scope of the situation.
I of course respect my clients opinion, and ultimately their course of action, even if the client makes decisions contrary to what I am suggesting.
My only concern is that they are properly informed prior to doing so.
My valued client’s take on it was that a Chico Realtor should only offer feedback with a soft touch, even if it means watching the client shoot himself in the foot. My problem with “sugarcoating” is that I think it’s a mistake to not give a client all of the facts with which they can weigh their decision.
Realtors that will tell their clients what they want to hear in order to secure their business are unfortunately a dime a dozen. The sad thing is, the client is done a disservice when they aren’t told the entire truth, and they aren’t being properly represented.
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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: 12 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 »
Short escrow? Get your ducks in a row BEFORE you make an offer.
November 2nd, 2007 categories: Anatomy of a Chico CA Real Estate Transaction, Chico Buyers, Chico CA Real Estate News, Chico Sellers, My Opinion on Things
There is no disputing the fact that Chico, CA is currently in what is commonly known as a “Buyer’s Market.”
That is FABULOUS news for all the buyers out there who have patiently been waiting for this day. The inventory is high, the prices have dropped, and the interest rates are still phenomenal!
Now is the time to get a great deal! 
A “Buyer’s Market” is a wonderful thing. A Chico, CA home that might have cost $400,000 in 2005 may only set you back $350,000 today. On average, prices seem to have corrected between 10 and 15 percent for residential properties.
I have noticed a growing trend with buyers. In an effort to get the absolute lowest price on a property, they attempt to entice the sellers with a very short escrow period. For some sellers, a quick sale in this market is a dream come true! They need out from under that house payment, and will gladly accept less than asking price just to be DONE.
However, when representing a seller, I have had to caution against signing the first contract we see, simply because the buyer promises to make it the pain go away with a 10 day escrow. The offer to close in 10 days is an empty one if the buyer has not done his homework.
The following items must be taken into consideration to close an escrow quickly:
- Is the buyer preapproved?
- Is the lender local and knowledgeable about our issues and resources?
- Is the lender willing to commit to closing on time?
- What kind of loan product is the buyer applying for? A VA loan, for instance, is highly unlikely to close in less than 30 days.
- What inspections does the buyer request? Well potability tests may require 14 days or more to obtain results.
- Can we get the appraisal completed immediately?
- Will repairs be required by the lender to fund the loan? If so, is there a contractor available to bid, complete, and final the work within a days notice?
An escrow that closes quickly can be a wonderful solution for both the buyer and the seller, but it doesn’t happen without forethought, preparation, and a willingness for all parties to be focused on immediate results.
If you are a buyer, hoping to get the best deal of the year by offering to close quickly, get your ducks in a row BEFORE you make an offer. No seller in their right mind will accept your offer if you aren’t prepared to close the deal.
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Shopping for Chico foreclosure property? Give me a call- I’m currently working with several REO departments on bank-owned Chico property. Sandi Bauman 530-864-5407
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: 6 Comments »
