Redding Ca Real Estate : February 2007

Easy credit days are soon over....

The days of getting a loan with low FICO'S may soon be over. I just read where there is a huge amount of defaults in the subprime loan market. The article said close to 10% of the loans in this category are going into default or are at least 60 days behind! Owch... there was a lot of creative financing going on in the last 2-3 years and people that probably shouldn't have gotten a home loan sauntered in with their 550 FICO and came out with a 3 fancy pants point loan.

 I think that we will see banks tighten up the requirements and that it will be harder to get a loan SOON. If your credit scores are in the 700's and 800's no problems but if you do fall into that under 600 crowd it may be a difficult road ahead. Too many people took out teaser loans in the last 2 years or loans that adjusted in 1 or 3 years. Many of these are now coming up to adjust and let me tell you that they won't be adjusting downward!

Even Realtors and investors took the bait and took out what I call risky loans to finance their dream homes. Call me old fashioned but If you can't qualify for a 30 year fixed 80% of the population shouldn't probably be purchasing a home. Yes there are some people that can benefit from a 1 year arm or a 30 due in 5 etc but the majority I believe should consider the good old standby....the 30 or 15 year fixed....

Fixed....it's not a bad word....It's good thing for most! It prevents the unexpected things from happening like...rates going up up up!

 

Regards,

 

Looking to see what you can qualify for? http://www.homewage.com

 

Sometimes change is good...very good! Blue Shield is redeemed...

Awhile back I blogged about Blue Shield canceling about 5500 Realtors and their families in California. At the time it seemed like a very terrible thing as I wasn't sure that I would be able to get health insurance as I had Cancer about 4 years ago. A great guy came out from Shasta Health Insurance and talked to me about group coverage. If you have yourself set up as a Corporation you are eligible to have group coverage if you have at least 2 W-2 employee's. Thank God I had us set up that way because when Lee was done with his presentation he quoted me about 30% less than I was already paying through the CAR health insurance company.

 

Wow a 30% savings.....kind of makes me mad I didn't check into the group coverage before! I didn't realize that there were options out there for health care benefits. Check out your policy and see if you can do better!! It may pay you substantially as it looks like it did for me to investigate and save$$

If you are in California here is Lee's number 800-655-4295. He was great and looks like he will be a great resource or health care coverage in California!

 

Regards,

 

Rick

Fixer for $875,000....

I just came across a fixer in Redding today for $875,000. Yes you read it right a fixer. Now granted it does have 6 bedrooms and 5 baths and it is on the river but $875,000. Wow. From the pictures, and there were not many (wonder why) it looks like the home needs a remodel....or more appropriately a complete OVERHAUL. It appears to have been built in the 80's. I bet it even has some shag carpet in it somewhere...maybe in a back bedroom...Austin Powers eat your heart out! I will keep my eye on this one and if they get the $875,000 I am going to see if they want to come and work for me....I can always use some tips on how to get a home that is overpriced by 25% sold!

I think this is going to rank up there in the top two most expensive fixers in Shasta County collumn.

Ready to see the homes in our area. You might even stumble upon a fixer or two! Just go to http://inforedding.com and search away. It is fast and easy and free...Nobody to bother you...you know those calls when you are eating dinner etc.

 

Have a great one!

 

Rick

Shasta County inventory of homes remains steady.....

The active available inventory of homes remains in the 1575-1625 range with buyers starting to enter the market place. The spring time usually brings more buyers out and we are experiencing this right now. There are still plenty of homes to choose from in most all price ranges right now. Seller concessions remain strong with new home builders crediting or offering up to $25,000! Wow now that is an incentive...Makes those offers years ago of free landscaping look like childs play.

To see the active available homes here in Shasta County right now jet on over to http://www.inforedding.com where you can search the local MLS anytime that you like.

I believe things will pick up here in Shasta County as many people from outside the area are still wanting to call this great area home.

 

Regards,

 

Rick

Blue Shield in California to Cancel over 8000 members in California...Shame on you Blue Shield!!!

Blue Shield of California, C.A.R.'s endorsed health insurance carrier, recently notified C.A.R. that it is canceling its endorsed Group Health insurance program effective May 31, 2007, and not renewing the program after that date. Their actions impact more than 8,000 members and their families, who are scrambling unsuccessfully to find replacement coverage by May 31. Many have operations scheduled, others are recovering from surgeries and require continued medical care or additional therapy. Some are dying and are in need of palliative care during their last days. Blue Shield is denying them all, just when they need medical care the most.

Do you feel it's fair that fellow Realtors like yourselves in California are being canceled for no reason? I have not missed a payment to Blue Shield and have to pay over $1200.00 per month for a high deductible policy for myself and my wife and small child.

Help me out and let Blue Shield know that what they are doing is wrong and is going to have a tremendous effect not only on your fellow Realtors...but their families and children....Think of the kids in the hospital when the cancelation goes into effect...What are the Realtor parents going to do when they get the huge bill that they thought the insurance company was going to pay?? We pay our premiums for a reason...not to be dropped like a bad date.....

 

How would you feel if you got a letter tomorrow...oh by the way we are canceling your health insurance that you have worked so hard for for all these years and not missed a payment on??

 

Regards,

 

Rick

Did you know you can get a free annual credit report from each of the 3 bureaus?

Credit scores...most people are not experts on them. They are however the lifeblood of getting a home loan. Have excellent credit scores (Fico's) can mean the difference of a lot of money when it comes time to make that house payment. There is a free service that anyone can take advantage of each year. You can have your credit report from each of the 3 top credit reporting agencies for free once a year. It doesn't cost a dime and it is good to know exactly where you are at. Don't wait until you apply for a car or home loan to find out where you stand. You are in the drivers seat when you have excellent credit! To find out your FICO score they do charge a small fee if you want that.

Here is the link to take advantage of this free opportunity to find out your score-

 

https://www.annualcreditreport.com/cra/index.jsp

P.S. there are other sites out there that try to make you think that they are free etc but be careful!! Some want you to sign up for their "Service" and it free but then you get stuck with something that you probably don't need....

 

Regards,

Are Lenders starting to tighten the rope?

I just read an article that mentions one large bank in particular is getting rid of 100% financing and is doing some drastic changes. It makes sense as the lenders were making loans to those that probably shouldn't have had a home loan for the last 4-5 years or so. They could justify it because money was cheap and the appreciation would bail out even the hardest situation if they didn't do an equity line a buy a new Mercedes! Even if they did that sort of thing some time they still had some more equity left over! It was too good to be true for many people and they were fueling the economy borrowing against their homes and buying buying buying.

Now that that has slowed down look for things to change a bit in the near future.

http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/HowHousingMaskedAWeakEconomy.aspx

Call me old fashioned again but if you can't afford a 30 year loan then you should re think what you are purchasing....Yes that came from a Broker.....and yes that is how I make my living selling homes but good advice is good advice even if it means selling less homes!

Are you looking to see what Shasta County homes are selling for? Feel free to see all the homes in Shasta County here now http://inforedding.com - no forms to fill out only the access you want to the area's BEST MLS search site.

Regards,

Rick Goates

 

 

Shasta County market update for Feb 2007

The inventory of homes remains in the 1550-1600 range with the market still favoring the buyers. Sellers are still willing to give some concessions on many properties and new homes are offering many more incentives than a year ago. We are seeing an increase in foreclosures as many people in the last year or two opted for creative financing to get them into their dream homes.

It is estimated that foreclosures will increase in abundance as Trillions of dollars of adjustable rate mortgages taken out in the last 3 years are currently adjusting upwards!

Remember that with foreclosures you have to have cash at the sale...all cash/Cashiers Check...no loan on foreclosures so that limits the bidding to investors and very serious home buyers that are in a great financial standing.

Foreclosures are a tricky thing and bidding on them is a risk so do your homework before you ever seriously consider them. They are "As-is" where is and sometimes have hidden attachments/liens that go with them!

Contact an expert in your area for help in your real estate endeavors! See all the active available homes and properties in shasta country right here now http://atlantisrealty.com

Regards,

Rick Goates

Direct MLS access for all of Shasta County right here right now....http://inforedding.com

Are you considering a move to the greater Shasta County region of Northern California? If so please utilize my advanced search software to help you find a home here.There is no cost or obligation to using this search site and no one will email or call or bother you! It's kind of refreshing I am guessing to get all the active available homes here in Shasta County in one place and search when ever you want without being bothered!!

Just go to http://www.inforedding.com

Click on the MLS turbo button on the left if you want the newest latest way to see homes here or you can always search the old fashioned way and use the standard IDX search that all the other 900 Realtor's here have...

The choice is yours....happy hunting!

 

Regards,

 

Rick Goates

Great moving tips to save you time and money.....

Moving day....ahhh show me someone that loves to move and I will show you an elephant with a short trunk! It is one of those necessary evils that we all get to experience sooner or later. Sooner or later you or someone that you know will be moving. Who knows you might even be helping them so with that in mind share these tips with them if it's not you!

If you plan to do the packing yourself, start collecting suitable containers. You can purchase specialized containers from most moving companies, such as:

* Small cartons for heavy items (books, record albums, and tools).

* Wardrobe containers

* Large cartons for bulky items (pillows, blankets, and stuffed toys).

* Medium-sized cartons for bulkier but not so heavy items (towels, linens, and small appliances)

- Collect other packing materials

* White paper

* Tissue paper

* Paper towels

* Non-printed paper

* Newspapers

* Tape or Strong twine for sealing containers

* Scissors or Sharp knife (keep out of children's reach)

* Felt marker to mark containers

* Notebook & Pencil for listing contents

* Labels or Stickers (Available from moving company)

Set goals and deadlines to ensure that all packing is complete by your moving day. You may want to pack one room per week. Attach a list of contents to each carton. Separate and mark goods that will go into storage. Consider having a garage sale to dispose of unwanted items. If you donate clothing or household goods to charitable organizations, get receipts showing their approximate value for tax deductions. Remember that the cost of moving an item may be greater than replacing it. Begin to use up large supplies of canned goods and frozen foods.

- Places To Notify of Impending Address Change Utilities.

* Electric

* Gas

* Water

* Telephone

* Heating Fuel

* Trash removal

* Professional Services

* Doctor

* Dentist

* Accountant

* Lawyer

* Real estate Agent

* Stock Broker

* Insurance Agents

* Life

* Health

* Fire

* Auto

* Boat

* Established Business Accounts

* Motor Vehicle Department

* Finance companies

* Banks

* Department stores

* Government and Public Offices

* Social Security Administration

* Federal and state income tax offices

* Publications

* Newspapers

* Magazines

* Credit Card Companies

* Bank cards

* Oil companies

* Relatives and friends

* Business associates

* Book and record clubs

* Schools and colleges

* Church

* Landlord, if you are a tenant / Tenants, if you are a landlord.

***Two to Three Weeks before Moving Day***

Let the post office know your moving date and new address. If you do not have a permanent address by the time you move, the post office will hold your mail and forward it upon written instructions from you. Phone the local business office of the Telephone Company. They can make arrangements for service in your new home and, on request, give out your new number when your present number is called.

Contact all service companies as listed:

* Electric

* Gas

* Water

* Fuel

* Cable TV

If possible, arrange to have utilities connected before your arrival. Make family travel plans. Reserve air or rail transportation and hotel accommodations as needed. Have your car prepared for the trip-tires, brakes, lubrication, oil change, and tune-up-as needed. Dispose of flammables such as fireworks, cleaning fluids, matches, acids, pressure cans or paint thinner.

Drain oil and fuel from your power mower and other machinery.

Discard partly used cans of oil, paint, syrup or any other substance that may leak. Carefully tape-seal and place in individual waterproof bags any jars of liquids or semi-liquids you do not wish to discard. Have rugs cleaned that are to be moved. Leave them rolled and wrapped when they are returned from the cleaners. If draperies are to be moved, have them cleaned and ready for alterations that might be needed in your new home.

Collect items that are being cleaned stored or repaired (clothing, shoes, watches). Empty your locker at any club you are a member of. Return library books and anything borrowed from friends or neighbors. Also collect things you may have loaned.

Decide what to do with your houseplants.

Set a date with a reliable service person to prepare your appliances for shipment, preferably the day before the move.

Depending on the appliance, post service may be needed for refrigerator, freezer, range, washer, dryer and others. For more information, request a free booklet, generally provided by most moving companies. Pianos and organs need to be prepared for moving by a specialized technician. Make arrangements to have utilities disconnected on moving day:

* Electric

* Gas

* Water

* Fuel

* Cable TV

Plan to keep your telephone in service through moving day in case last minute calls are necessary. Take pets to the veterinarian.

Make sure identification tags are securely attached to the pet's collar.

***Three Days before Moving Day***

- Instant Aid Box

Pack a box for instant needs on arrival. Mark the box "To be loaded last and Unloaded first." Package each group of items separately in labeled paper bags. Here are some suggestions.

Cleaning -

* Powdered detergent

* Sponge

* Paper towels

* Dish towels

* Dish cloth

* Kitchen cleanser

* Window cleaner

* Scouring pads

 

Kitchen -

* Paper plates, cups and napkins

* Plastic knives, forks and spoons

* Small saucepan

* Serving spoons

* Aluminum foil

* Snacks

* Easy-to-open cans of pudding

* Dry soup mix

* Sandwich spreads

* Jars of cheese

* Package of crackers

* Boxes of dry cereals

* Instant coffee, tea, chocolate

* Instant creamer, sugar, salt

Bathroom -

* Towels and face cloths

* Toilet tissue

* Facial tissue

* Soap, hand lotion, deodorant

* Toothbrushes and toothpaste

Miscellaneous -

* Reading materials

* Puzzles

Last-Minute Packing -

* Cellular telephone

* Light bulbs

* Flashlight

* Hammer, screwdriver, pliers, assorted nails and screws

* Shelf paper

* Trash bags and ties

 

Children -

* Coloring books and crayons

* A favorite toy or two

- Complete a "Take-with-Me Inventory" checklist.

Check contents of drawers. Remove all things that can spill or break. Soft goods such as blankets, pillows, blouses, shirts and lingerie may be left in drawers. Pin clothing to hangers if it is to be moved in wardrobe cartons to keep it from slipping off.

Remove items left in the attic or other storage areas. Empty the refrigerator and freezer so they can dry at least 24 hours before moving. Be careful not to overlook the defrost water pan. Failure to have the appliances completely dry can lead to mildew and unpleasant odor. Be sure the water is emptied from your steam iron. Launder all soiled clothing prior to the day the appliance service technician is expected. Take the telephone directory with you for contacting former doctors, dentists, suppliers, etc., and for preparing holiday card lists. Pack suitcases for the trip to the new home. Put in extra clothing for emergencies. Consider packing a picnic lunch to eat while traveling. Take along snacks such as fruit and cookies for the children. Include towels for a quick cleanup. Arrange for a baby-sitter for moving day, or have older children look after the younger ones.

***Moving Day***

- Loading Your Belongings

* Be on hand when the movers arrive. Otherwise, it is important to let the moving company know to whom you have given authority to take your place. Be sure this person knows exactly what to do. Remember the person may be asked to sign documents obligating you to charges.

* Accompany the van operator through the house inspecting and tagging each piece of furniture with an identifying number.

These numbers, along with a description of your goods and their condition at the time of loading, will appear on the inventory.

* Be sure the condition of each item is recorded and the van operator has a clear understanding about what is to be loaded last. It is your responsibility to see that all of your goods are loaded, so remain on the premises until loading is completed.

After making a final tour of the house to be sure no items have been overlooked, check and sign the inventory. Get your copy and keep it in a safe place.

* Check to see the van operator has the exact destination address. Be specific as to where and how you can be reached pending the arrival of your household goods.

* Leave the phone connected throughout the moving day. Leave a note listing your new address in a conspicuous place in the house so the new occupants will be able to forward any of your mail inadvertently delivered to them.

Take a last look around:

* Water shut off?

* Gas shut off?

* Air-conditioning shut off?

* Light switches turned off?

* All utilities arranged for disconnection?

* Windows shut and locked?

* Have you left anything?

* Lock the house and leave the keys with a responsible person or in a prearranged location.

- At Your Destination

* Contact the destination Moving Company, whose name appears on the forms signed, as soon as possible and indicate where and how you can be reached.

* Make sure the house is ready for occupancy before the van arrives. If you have not already done so, contact the utility companies and make necessary arrangements for service. Ask if any of them provides free appliance connection service.

* Be on hand to accept delivery of your household goods.

Otherwise authorize an adult as your representative to accept delivery and pay the charges for you. Inform the Moving Company of the person so authorized. On the day of delivery, the van operator will attempt to contact you by phone and make an appearance at the residence if unable to reach you. If no one appears to accept the shipment within the free waiting time, the goods will be placed in storage at the owner's expense.

* Check your household goods, as they are unloaded. If there is a change in the condition of the property from that noted on the inventory at the time of loading or if any items are missing, note any damage and/or missing items on the van operator's copy of the inventory sheet. By signing the inventory sheet, you are acknowledging receipt of all items listed. Personally report any loss or damage to the moving company agent at destination immediately. (You must file the claim yourself; the van operator cannot do it for you.)

* To save time and confusion, place a floor plan of your new home at the entrance the movers will use, indicating where each piece of furniture should go.

* Then unloading, each piece of furniture will be placed as you direct, including the lying of rugs and setting up of bed frames, box springs and mattresses. However, appliances and fixtures may not be installed. At your request and additional cost, the agent may arrange for this service and for refilling of waterbed mattresses.

* To prevent possible damage, television sets, other electronic equipment and certain major appliances should not be used for 24 hours after delivery, allowing them time to adjust to room temperature. If you have paid for unpacking, you are entitled to unpacking service and removal of the cartons.

- Getting Settled

* Make arrangements for reinstallation of appliances.

* Keep all documents pertaining to your move in a safe place. You will need them for verification of moving expenses and for filing your income tax returns. For more information on tax-deductible moving expenses, consult an Accountant or Tax specialist.

* Check with the post office for any mail being held and ask for delivery to start.

* Have your medical and dental records transferred after selecting a family physician and dentist.

* You may want to select a Lawyer discuss laws pertaining to your destination state, county and/or city. Be sure to cover such matters as wills, transfers of property and investments, insurance regulations, inheritance laws, taxes and the like. Most laws affect a family as soon as residence in the new state and city is established. Register to vote.

* Locate the selected schools. Take the children, introduce yourself and register them.

These tips have been provided as a courtesy of

Orlando Frasca

Rogers Insurance Services, Inc.

1-800-747-5311

Give them a call they have great service and rates!

Regards,

Rick