Video for Real Estate is Getting Easier To Do!

OK, I know that this is not the most well produced real estate video that any of you in the Oroville real estate markets, or the real estate markets of Paradise and Chico, CA. have ever seen.

Quite frankly I hadn’t even intended for this video to go beyond the eyes of my client. But, then I thought, “Aw, what the heck,”  I might as well let all of you see the how cool some of my latest and greatest technology is helping me help my customers. This video was shot and entirely produced entirely on my iPhone5 with a really awesome app that is actually still being beta tested.  The amazing thing is that it only took about 10 minutes to put it all together once the images were recorded on the phone.

I would be happy to provide this service to any of you out there in the real estate markets that I serve including the market for Oroville homes, Paradise homes and homes in Chico and Sutter and Yuba Counties.

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Sellers On The Fence

It seems that the tide is beginning to turn in the national real estate market. I invite all of you in the Lake Oroville real estate markets as well as the housing markets of Chico homes and properties of the Town of Paradise to check it out.
 


 

Buyers Struggle with Low Inventory

Sellers on the Fence

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Keep Your Perspective

It has been far too long since we last had some quality time together.  When I first started this blog it seemed I was blogging 3 or 4 times per week. Lately, though it has been more like 3 or 4 times per year.

Don’t ask me why I had lost my enthusiasm for commenting on the real estate markets of Lake Oroville, Chico, Paradise and the surrounding areas. I guess it just seemed like that I could not muster up an effort to comment on what seemed to be a dismally depressed real estate market.

Lake Oroville

Or maybe I was just dismally depressed.  Whatever the reason, I have been feeling for a while now that it is time to get this blog up and moving forward again. Market conditions both locally and nationally have been changing lately and it seems a good time to get back into the swing of things.

Let’s get restarted by taking a look at this article that I found at Inman News. While reading this “gloom and doom” titled column I want you to tell me what is missing from this article that discusses the state of the foreclosure market on a national level. I think what you do not see in this article is why I have told all of you since the beginning of this blog to keep your perspective on things.  We’ll pick up on our discussion when you get done reading.

CLICK HERE TO VIEW THE ARTICLE

So what did you NOT see in this article about the number of foreclosures on the market?

You get a gold star if you said that the word CALIFORNIA did not appear in the article. That’s right, the state that was hit as hard or harder by the foreclosure mess than any other state in the Union does not even get a mention in a report that says the number of foreclosures in this country is still at an all time high.
This is why I keep updated links on this site showing the latest foreclosure filings in, not only the Lake Oroville real estate market, but also the real estate markets of Chico, Paradise, Yuba City and Marysville areas. As they say, all real estate is local. It is ok to keep yourself abreast of the national real estate market, because quite frankly, and I am sorry to say, it seems to be the national numbers that set the mood of the country. But it is your job to set the mood of this state and this local Oroville real estate market by staying informed on the local markets.  Only time will tell, but it seems that the light at the end of the tunnel is no longer a gigantic freight train.

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Latest Foreclosure Stats Just Released

For all of you interested in the foreclosure trends in the areas that I service, which includes the real estate markets of Lake Oroville, Paradise, Chico, Yuba City, Marysville, and Tehama and Glenn counties, here are the latest stats as compiled by ForeclosureRadar.com

These one year charts show that an interesting long term trend has begun to develop that we have not heard too much about in the media.  These charts are beginning to show significant reductions in the number of foreclosures filings taking  place.  Although the charts are a little roller-coaster-like when looking at the monthly numbers, the overall trend is slowly working its way down.

To be sure, we are certainly not out of the woods by any stretch of the imagination when it comse to the impact foreclosures are having on the overall value of the home across the state.  It is encouraging to see that the long term trend is beginning to head south ever so slightly. Will it stay down? That is hard to say given the recent events with the foolishness surrounding the debt ceiling, stock market gyrations, and the fact that consumers have a general feeling of despair when it comes to the current economic climate in which we find ourselves. What I do know is that with the media so focused on the incompetence in Washington, D.C. there is a good chance that this news will not be considered important enough to share, simply because it is not “dramatic” enough.

On this blog site we take the drama out of the market and replace it with just the facts so you can decide for yourself what is happening.

I have placed links at the bottom of this posting for each area of the real estate market I service. Click on whichever area in which you are interested in seeing.

Oroville Foreclosure Report      Chico Foreclosure Report

Paradise Forclosure Report      Marysville Foreclosure Report

Yuba City Foreclosure Report     Glenn County & Tehama County Foreclosure Report

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LOCK…LOCK…LOCK

For those of you in the Lake Oroville housing market and the real estate markets of Chico, Paradise, Yuba City, Marysville, Gridley, Biggs and Durham, who did not see the Facebook posting I made on my business page yesterday at Facebook/RealtyWorld.CA, and, since I have not seen this recommendation from any other area real estate agent anywhere on the ‘net, I will repeat what I advised my Facebook readers to do:

If you are working on a loan for the purchase or refinance of a home, you need to have a SERIOUS  discussion with your lender about locking your interest rate ASAP.

CurrentLast Week

As a former financial advisor with a major Wall Street firm, I have seen this type of market volatility before and I will tell you that when you get the gigantic drop that the stock market took today and the huge drop in interest rates that came with it, there is a better possibility that that stocks and interest rates will “bounce” off these lows very quickly, then there is of rates continuing to fall in a fashion that makes it worth the risk to “wait and see” what happens.

There are two events coming up that make it a good idea to consider locking your rate as soon as your loan officer is available to do this for you.

1. The monthly employment numbers will be released tomorrow. If the numbers are at all better than analysts are expecting, or even in line with expectations,  I anticipate that interest rates will tick up slightly. If, as some suspect, the number is worse than the overall consensus expectation you may see rates tick down on the news. But not by much (unless the number is some off the wall number like 10% unemployment).

2.  The weekend is here. In a volatile market like this, and with rates as low as they are now, waiting through the weekend may cost you. If there is any positive economic developments from the international markets over the weekend it most likely will cause some upward movement in rates before your feet even hit the floor Monday morning.

Obviously, there is no way to know exactly what rates are going to do in the coming days, and , as I am no longer a professional financial advisor, the above comments should not be considered financial advice. I want you to be sure and make your own decision about this based on your current financial situation in consultation with your personal finance management team.

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This Just In….

I just received an e-mail from the CEO of REALTY WORLD -Northern Ca/Nevada with an attached article discussing the latest foreclosure numbers for the State of California.

 Now, normally I would proclaim to all of you in the Lake Oroville real estate market that all real estate is local and that it is much more important to stay in tune with the local home sales numbers as opposed to general reports on the market. While this is still my philosophy, I do not think it is at all wise to IGNORE reports on the broader markets. After all, it is the broader markets that get the media coverage when it comes to just about anything real estate these days. Like it or not the media has a lot of influence on the consumer’s psyche that helps in creating the mindset that consumers are using when making decisions on whether to buy or sell a home.  If you are a regular reader of this blog site that serves the real estate housing markets of Oroville, Chico, Paradise, Yuba City, and Marysville California you know that I do not believe any improvement will occur in this housing market until we have two things: Employment and consumer confidence.

It is becuase of the latter of these two vital ingredients that I want to share excerpts from the article posted on DQNews.com.

The number of California homes that went into foreclosure fell to a four-year low last quarter, the result of a more stable housing market as well as policy changes in the mortgage servicing industry, a real estate information service reported.

Last quarter’s activity was the lowest for any quarter since 53,493 NoDs were recorded in the second quarter of 2007. It was well below half the record 135,431 default notices recorded in the first quarter of 2009.

A total of 56,633 Notices of Default (NoDs) were recorded at county recorders offices during the April-to-June period. That was down 17.0 percent from 68,239 for the prior quarter, and down 19.2 percent from 70,051 in second-quarter 2010, according to San Diego-based DataQuick.

Mortgages were least likely to go into default in San Francisco, Marin and San Mateo counties. The probability was highest in Kings, Sutter and Yuba counties.

Trustees Deeds recorded (TDs), or the actual loss of a home to foreclosure, totaled 42,465 during the second quarter. That was down 1.4 percent from 43,052 for the prior quarter, and down 10.9 percent from 47,669 for second-quarter 2010. The all-time peak was 79,511 in third-quarter 2008.

Last quarter’s trustees deeds total was the lowest since 35,431 were filed in fourth quarter 2010, and the second-lowest since fourth quarter 2007, when 31,676 were filed.

Now, let’s be clear here. Even with this “encouraging” news, we have a long long way to go until the real estate market is healthy again. But it is important to understand, especially for you buyers out there who are still waiting for things to go lower, that this market is so beat up right now that, if this type of news consistently continues over the next two or three quarters, it is very possible to see some firming up of prices and maybe even some very modest price increases.  Just food for thought.

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New Foreclosure Reports Now Available

Here are the latest foreclosure reports for the real estate markets of Lake Oroville, Ca, Chico CA, Paradise CA, Yuba City Ca and Marysville, CA.

These reports still show what has been true for the past couple of years- a very volatile market with not much in the way of any long term trend that could assist us all in anticipating where the market is going from here. This uncertainty, as well as rampant unemployment, is doing its best to keep many buyers on the sidelines, as they seem to be waiting to the bottoming in pricing.

If you are one of these buyers be sure that you are keeping a close eye on trends on prices and interest rates as you wait. Remember that the Federal Reserve has pulled out of the mortgage market and are no long artificially deflating interest rates. Rates are going to react much more quickly to changes in the economy than at anytime in the past 2 years without the government interference that has kept them low. Believe me when I say I understand the fence-sitting mentality as not much this economy has to offer feels very good right now. Continue reading

E-Newsletter Service Just Launched

I just signed up with this really cool new Newsletter service provided bt the National Association of REALTORS®. I will be using this service from time to time to bring important real estate topics to all of you in the Lake Oroville, Chico, Paradise, Yuba City, Marysville real estate markets and the real estate markets surrounding these areas. I would appreciate your feedback on this service as I always want to be bringing you the most pertinent real estate information available. Afterall, shouldn’t you have the most current information available to you as contemplate selling or buying a home?

Visit houselogic.com for more articles like this.

Copyright 2011 NATIONAL ASSOCIATION OF REALTORS®

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Where Have I Heard THAT Before?

As part of my efforts to stay on the leading edge of real estate news, in order that I can keep all of you in the Lake Oroville housing market informed, I subscribe to a number on-line real estate new organizations who regularly communicate with me through e-mail with the latest and greatest real estate info.

In an artice that just arrived in today’s communication from Inman News, I thought I was experiencing Deja Vu all over again. In fact, some of it sounded so familiar that I started to rack my brain as to where I had heard this kind of thing before. I looked high and low and still no hint. I looked inside and outside. I looked everywhere in the entire Lake Oroville real estate market area. But no luck remembering where I had heard it before.

So now my dear readers, I turn to you for help. Here, excerpted in part, (Click Here to see entire article) is what I read from the article written by Glen Roberts, Jr., entitled ” A slow-motion real estate recovery”. Maybe you  can help me remember:

Mark Dotzour, chief economist for the Texas A&M Real Estate Center, said government stimuli have delayed recovery.

“We’re not in a ‘double dip’ in my mind,” said Dotzour — referring to some economists’ talk of a second dive into downturn after some signs of an economic rebound — “we just never hit bottom in the first place.”

The market essentially “fell off a cliff,” and the government’s “lifeline” of programs it throttled at the recession, among them the homebuyer tax credit programs, “Cash for Clunkers” auto program, loan mod programs and Federal Reserve’s purchase of Treasury debt, did not have the intended benefits.

The market “would have started coming back up to a year ago or so if we hadn’t had the federal intervention in the first place.”

The federal homebuyer tax credit programs appear to have been largely ineffective, essentially “stealing” sales forward that would have occurred at a later time. “We believe pretty strongly that we paid back every bit of that stimulus,” he said, with the slumping sales that followed expiration of the tax credits.

Hmm…..now where in the world have a I heard these type ideas before?????  Wait……………..yes…………………..now I’m starting to remember………….Here is what I had read in the past. Continue reading

Weekly Oroville Sales Update

Hello, once again, Lake Oroville real estate market stats fans. I can’t believe it has been nearly 3 months since I have reported week sales for the Oroville real estate market to you. Boy, how time flies when you are having fun selling Oroville homes, Paradise homes, Chico homes and homes in Yuba City and Marysville.

Lately the word is, the more things change the more they stay the same. Except for overall home values, that is. In Oroville we can’t seem to sell anymore than 7-8 homes per week and average prices of the Oroville home listings that are selling continue to trail downwardly.

Here are this week’s numbers: 

MLS Stats for Oroville Area Week Ending
  6/16/2011
   
# of Total Sales 9
   
# REO/Short Sales Sold (SS) 6
   
% Sales that are REO/SS 66.67%
   
Avg. List Price $91,366
   
Avg. Sold Price $84,089
   
Sold Price % of Listing Price 92.04%
   
Avg. Days On The Market 87
   
Total Sales Volume $822,290
   
# of Single Family Listings 250
   
# Foreclosed On Market 50
   
% of Foreclosed on Market 20.00%
   
# Short Sales on Market 22
   
% Short Sales on Market 8.80%
   
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