Chico CA Real Estate Market Stats

My Opinion on Things

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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