Chico CA Real Estate News

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Chico CA Real Estate Market Report for Week Ending 1/19/2008

January 20th, 2008 categories: Chico CA Real Estate Market Stats, Chico CA Real Estate News

Chico real estate market data.

I’ve always found real estate market reports to be really dry reading… but many of you potential Chico buyers and sellers have been coming to my blog looking for this type of information, so here you go!

The following represents the market data for single family homes only. Chico areas covered are 1A to 1F, as provided by the Sierra North Valley MLS.

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Chico Unified School District: A Great Resource for Relocating Families

January 11th, 2008 categories: Chico CA Real Estate News, Relocate to Chico

Are you considering relocating to Chico, California?

For most parents, a primary concern when considering moving is the school system. The links below can help you familiarize yourself with Chico’s many great schools.

How great is this? Pleasant Valley High School was honored on April 16, 2007 with the title “A California Distinguished School” by the State Superintendent of Public Instruction, Jack O’Connell.

Alternative Education Schools

The Academy For Change (Community Day School)
Fair View High (Continuation School)
Oakdale (Independent Study)

Helpful resources:

Please feel free to contact me regarding any needs you may have as you relocate to Chico, California! I can assist you in your search for Chico property by sending you listings via email. Browse our neighborhoods, schools, parks and recreation- all with little hassle. Relocating families are some of my favorite clients! I enjoy helping to ease the stress of moving, by working hard to ensure that your real estate transaction is as smooth and easy as possible.

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.

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St. Jude’s Chico Dream Home Location Announced

December 29th, 2007 categories: Chico CA Real Estate News

The St. Jude 2008 Chico Dream Home will be located in Aspire Homes McKinney Ranch community at the southwest corner of Eaton Road and Godman Avenue, specifically, on Desiree Lane. Map of Eaton Rd & Godman Ave Chico, CA 95973, US

Don’t need a house in Chico? Search to find one in your area here.

The estimated value of the second St. Jude Dream Home built in Chico will be $400,000 for 2060 square feet.

Approximately 11,000 tickets will be available for sale at Tri Counties Banks or by calling 800-847-8573, a 24-hour toll-free hotline with additional information. Each $100 ticket is eligible for a chance to win the house or one of many other prizes. In addition, tickets purchased by April 4 are eligible to win an early bird prize valued at a minimum of $1000. One out of every 500 buyers can win a bonus prize.

The goal this year? Raise $1.1 million!

Winners will be announced June 15 during a live St Jude television special on CBS 12, NCB 24 and CW 10.

St. Jude Children’s Research Hospital is the world’s premier pediatric cancer research center. They were the first to cure the most common form of childhood leukemia, acute lymphoblastic leukemia (ALL), helping to drive the cure rate from 4 percent in 1962 to 94 percent today. Doctors send their most difficult, and most vulnerable patients to St. Jude, with the confidence they will be receive the most up-to-date and aggressive care available.All patients accepted for treatment at St. Jude are treated without regard to the family’s ability to pay.

I would like to introduce Tori Hopkins, age 2. Please read her story here.

Donate now.

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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.

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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.

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.

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Don’t lose your Chico Home to Foreclosure

December 21st, 2007 categories: Chico CA Foreclosure Listings, Chico CA Real Estate News

by guest writer, Mike Wiegert- broker, Chico Homes Real Estate

`If you are worried about keeping up with your Chico CA house payments or you've received a letter from your mortgage lender, take a moment to read this article.`

The problem won't go away by itself!

1. Don't ignore your lender. They want to help you and will discuss the problems you are having. They have options to help you through these financially hard times. They can offer great advice to prevent you from getting into foreclosure. "I didn't get the mail" or "I didn't read it" are not valid excuses in foreclosure court. Disregarded mail usually turns into notices of legal actions.
2. Read your mortgage documents. Remember all those papers you signed when you bought your house? Dig them out of whatever hole you put them in and read them. You need to understand what your rights are and the procedures your bank will take to protect their interest in your property. Research other valuable information about foreclosures besides the information offered to you by your lender. An excellent source? Try: www.fha.gov/foreclosure/index.cfm.

3. Get some credit counseling. The U.S. Department of Housing and Urban Development (HUD) offers free or very low cost housing counseling and information. A HUD counselors will outline options for you, help you organize your finances and even assist you in negotiating with your lender. For more information call (800)569-4287.

4. Watch out for foreclosure prevention companies and foreclosure recovery scams. Although there many legitimate companies that will offer to assist you for a fee ranging anywhere from two to three months mortgage payments, most of their information and assistance is available to you through HUD as mentioned above. Don't waste your money at this critical time. NEVER sign your home over to an individual or company that claims it will act on your behalf. As always, enlist the help of an attorney or trusted real estate professional before signing any document conveying the title to your home.

Lastly, if you can't continue to make your payments consistently, contact a local real estate professional to help determine the actual market value of your property in todays market. Engage the services of a competent and trusted Realtor. Don't allow yourself to be lured into a listing agreement by an exuberant agent or broker claiming he can get you much more than the others simply because of his extraordinary talents. Ask the agent to provide you a detailed Competitive Market Analysis showing actual, recently sold properties in your neighborhood with similar features and in like condition to your home. The California Department of Real Estate not only allows agents and Brokers to negotiate their commission, but encourages it. Share your extenuating circumstances with your agent. Trusted friends and relatives can be a good source of recommending a Realtor that served them well.

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.

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Avoid Mortgage Fraud in Chico CA

December 20th, 2007 categories: Chico CA Foreclosure Listings, Chico CA Real Estate News

Are you facing foreclosure on your Chico Home?

If you have fallen behind on your mortgage payments, you need to be acutely aware of the “foreclosure rescue schemes” being played out all over the United States. As a Chico homeowner in distress, you are more likely to be more vulnerable to mortgage fraud.

[youtube]http://www.youtube.com/watch?v=cS2HsaBA5No[/youtube]

Freddie Mac is working hard to get the word out on mortgage fraud. You can read their recent article in full here “Avoiding Mortgage Fraud.”

Stay informed, and avoid signing any documents without first consulting your lender.

After all, the last thing the bank wants to do right now is foreclose on your property! They will most likely counsel you thoroughly on your legal options, and work with you to find a solution. Please protect yourself, and guard against talking with strangers or anyone who can’t clearly identify himself as your actual lender.

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.

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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.
Looking forward to more posts like this?

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.

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What to expect from your Chico CA Realtor.

December 5th, 2007 categories: Chico CA Real Estate News

A Chico CA Realtor (or any Realtor, for that matter) owes specific duties to his or client, as well as other parties that may be involved in a Chico CA real estate transaction.

If you are a buyer or seller, it’s important that you know what you are entitled to from your Realtor. After all, your relationship is going to be a very important one, considering that a home is probably the largest investment you will ever make in your lifetime!

Your Realtor will be your “fiduciary.” A fiduciary is a person who holds a special position of trust and confidence, and one who is held by law to high standards of conduct. It is the job of your Realtor to work with your best interests in mind.

Specifically, your Chico Realtor owes you these fiduciary duties:

1. Reasonable care and skill

2. Obedience and utmost good faith

3. Accounting

4. Loyalty

5. Disclosure of material facts

What does all this mean in a Chico CA real estate transaction?

1. Reasonable care and skill. If a broker or salesperson causes his client harm due to carelessness or incompetence, the broker will be held liable to that client. A Realtor should not overstep his experience or ability at the expense his client.

2. Obedience and utmost good faith. A Realtor must follow the instructions of his client, in accordance with the intent of the clients wishes. (Just for the record… please don’t ask THIS Chico Realtor to do anything illegal or immoral on your behalf- we would have to investigate terminating our relationship!)

3. Accounting. A Realtor needs to account for any funds that he receives on behalf of his client, and avoid mixing them with his own money. That good faith deposit check does NOT belong in the Realtor’s checkbook! It should be deposited into escrow according to the broker’s standards.

4. Loyalty. A real estate agency relationship is based on confidence that the Realtor will remain loyal to the client. The Realtor needs to keep his clients interests first and foremost. Most commonly we see this violated when a Realtor reveals confidential information to a third party, such as how low of an offer a seller might be willing to accept on his home.

5. Disclosure of material facts. A Realtor needs to inform his client of any facts that might influence the clients decisions. Communication is a BIG factor here, particularly with a seller. The agent must present ALL offers, inform the seller of the TRUE value of the property, disclose any relationship between the agent and the buyer, and reveal a dual agency, should it exist.

In addition, your Chico CA Real estate professional owes the OTHER party a duty of reasonable care and skill, a duty of good faith and fair dealing, and a duty to inspect the property!

Although it sort of sounds like a conflict of interest of their fiduciary duty, your Realtor is also held responsible if his negligence of incompetence harms the buyer or seller on the other side of the deal. A Realtor must disclose all known material facts about a property, and avoid mistakes in their presentation of facts. Lastly, the Realtor must perform a reasonably competent visual inspection of the property and disclose his findings to the buyer.

Looking forward to more posts like this?

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.

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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.

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