Redding Ca Real Estate : March 2007

Great article for anyone out there thinking of doing a 1031X into a TIC. This article explains the benefits of getting into a larger pool of investors. Doing a 1031X is not a big deal if you know what you are doing or have great people helping you. I help people do 1031X's and if you need to park some exchange money here in our area feel free to call me 530-221-8850.

 Here is the link to that article http://www.mypropertywealth.com/IGOR3/itemDetail.php?itemId=671

Regards,

Rick Goates

http://inforedding.com

Search the Shasta MLS now!

I talked with a client today that I had not seen in awhile. He mentioned that they might want to sell in the near future. He said they had re financed about a year ago or so and that the mortgage was getting ready to adjust. He is not alone. There are so many adjustables out there getting ready to adjust/explode. I can see now why lenders loved to do those subprime neg am loans and all those other FANCY ones that we have seen the last two years!! He let me look at the paper work on his loan to figure some things out for him. I noticed that the lender made approximately $13,500 dollar on his loans....Yes that's right $13,500+ WOW....

Now I am not saying the lender took him for a ride or anything but let's just say that that is no small bucket of cash alright! I started doing some simple math and saw the main reason that those fancy loans were SO popular the last 2-3 years. Take the above example and multiple by about 3-4 per month and you can see that some lenders were making between $40-50k a month!! Multiple that by 12 and you get $600k...Wow...

Granted that was on about a $400k loan and not all of them would be that big but it ALL makes sense now. Not to mention the prepayment penalty that the lender has of 3 years-owch.

So to sum it all up....get to a Realtor that you TRUST or better yet call the one that helped you and did an excellent job!!Then get to a lender that is reputable and that is a referral if you need help. Walking into any old office can be a expensive lesson not to mention it may cost you your home someday if you get the wrong loan-that you can not afford later!!

I still get things in the mail weekly about the $400k mortgage for  only $1200 per month....Folks if it sounds too good to be true...Well you know the rest.

Ready to see all the redding california real estate? http://inforedding.com

Regards,

Rick Goates

I had a great experience today at the city of redding. I had to go there to do some research for a client. Boy how things have changed! Changed for the better is what I experienced. In the past you waited for 15-20 minutes to talk to a planner and then some of them had an attitude. Today was a refreshing change. I was helped quickly and efficiently and was given some good advice and information.

The city of Redding has a new leader now and the changes in the employee's seem to be for the better. I did see some familiar faces there in the planning department and also some new ones. It was a new one today that must be commended on excellent customer service!

If you need to know anything government wise with the city of redding this is a good link and is a very useful website that they have put together there.I must say the City of Redding's website is ten times better than the County's.

Here are some other great links for information on things to do and see in Redding Cal.

http://www.visitredding.org/

http://inforedding.com

Regards,

Rick 

The numbers are coming in and they are not looking pretty. The number of homes in the pre-foreclosure or foreclosure stage is dramatic! Too many buyers the last 3 years took out adjustable rate mortgages with teaser rates that were just too good to be true. Approximately 1.3 Trillion dollars in adjustables is getting ready to adjust and the word on the street is that the foreclosures may hit record levels in the next year or two!

What does this mean for the average buyer or seller out there? Well if you HAVE an adjustable rate loan and you have any equity at all you might want to seriously consider refinancing right now. Don't wait for interest to go down a little. Do it now and get it locked in for awhile.

Would you like free access for 7 days to see all the bank owned/pre foreclosures and foreclosures in your area?

Sign up and you get free access. If you like it just continue on and you will be charged. If you don't just cancel within the 7 day period and you won't be charged.

This is one of the best sites around to get all your foreclosure info in one place!

Here is your access link to check out foreclosures in your area.

http://www.inforedding.com/foreclosures.php

Hello we read about it daily the slaughter that is happening in the sub prime market and the effects of what loose money did. The banks are tightening up and getting a loan with marginal credit is not a reality for some right now. There are options out there though for first time home buyers without stellar credit. A local lender came in last week and shared with me an exciting program that will help many first time homebuyers if they knew about it.

Right now a first time home buyer can get a loan for 5.75% with a FREE 4% grant...That's right FREE 4% grant and can make up to $73,715 and still qualify! The purchase price of the home can't be over $327,375 but this is a great program. FICO's need to be 650 or better.

This won't Last too long so if you or someone that you know are interested in purchasing a home in Shasta County soon let me know. I will get you more info on this program along with the lenders contact info.

Curious to see exactly what $327k will get you? Go here http://atlantisrealty.com

530-221-8850

Regards,

Rick 

Well the mint usually doesn't make too many mistakes but when they do some really profit. The new George Washington $1 coin is a good example. People are flocking to banks today to get as many rolls as they can to see if the might be lucky enough to get a roll of flawed coins. They mint sent out up to 50,000 coins missing the side inscription "In God We Trust" and the date etc. So if you find a smooth edge on your new Dollar Washington HOLD ON TO IT.... or sell it on ebay like others have. The first coin sold on ebay for $600!! Now they are around 40-60.00 And will probably come down as the weeks go by.

Check your change purse or head to the bank to see if you can win!

Happy hunting! 

http://www.poststar.com/articles/2007/03/07/ap/headlines/d8nngl180.txt

Regards,

Rick 

The inventory of homes continues to range between 1600-1650 active available homes on the MLS. Builders are increasing their incentives to keep the new home segment selling. Sellers are being creative and offering things that we haven't seen in years to get their homes sold. There are many homes sitting around gathering dust as they are over priced or listed by sellers that are not overly motivated! The average marketing time is approx 6 months right now with excellent areas with excellent conditioned homes selling quicker.

You can see all the active available homes at http://reddingcaliforniarealestateinfo.com

There you can search the MLS with no forms to fill out and see what is happening in our area!

Regards, 

Rick