Redding Homes Blog has moved
This site is up for archival purposes only. New posts about Redding California real estate are at this link http://ReddingHomesBlog.com
Buy half a luxury home?
This outstanding home is in the Viola area. The listing says the seller is willing to entertain an offer for half share of the property, which is unusual, but intriguing. Under the right circumstances, it could make for a perfect fit.
It's listed by Chad Phillips of Coldwell Banker. He writes of it:
"Incredible home situated on usable property with majestic Lassen Volcanic National Park & Brokeoff Mtn. looming behind you. 1,588 feet of frontage on Bailey Creek. The FlyShop.com- ''We don't know of a stream anywhere that has more trout per yard than Bailey Creek. The relatively low elevation, rich spring water & temperate climate translates into a long growing season...'"
Darn you fish. Get out of my creek! Hee. Anyway, the idea of this as an amazing timeshare has opened up some interesting ideas. You take the left half, we'll take the right. No? We take Summer you take Winter? Toss a coin? Well, whatever can be worked out, I'm sure it would be extraordinarily nice to spend time here. There are several more lovely photos of this Luxury Home near Lassen Park at the link. We recommend you take a look. Then see if this fits your idea of a shared home, or if you'd rather buy it outright at the list price of $1.295M. We're told there's a possibility that the seller may carry a first, too. It's certainly easy to imagine yourself inside this spectacular home one way or another. Call us if you're interested in exploring the options. (530) 244 7603
Reagan’s Budget Director speaks
Hello fans of Ronald Reagan. Here's Ron's Budget Director. Worth a view:
"A ten trillion dollar mistake," says David Stockman. The effect of the Bush tax cuts while the housing bubble fed rocket fuel to the already blazing economy. The now burnt economy effect can be seen as a costly mistake, but I'm not at all sure that it wasn't intended. They wanted to shrink our bloated government by starving it for money, but they forgot to cut spending too. History repeats...
It’s in the newspaper so it must be true
Saw this advertisement today in our local paper. It's a bold claim...sort of:
Splashed in amongst the Marijuana Clinic ads is the claim "We are #1 in Shasta County...We sell the majority of foreclosed homes." Really?
Well they don't specify a period, so maybe they sold the most this week, or this month, or whatever. But a reasonable assumption might be that they are implying they sold the most this year, 2010. The numbers are easy enough to verify. Let's look.
In the common parlance of real estate agents there are 2 "sides" to any transaction. An agent represents a seller, and an agent represents the buyer. There have been 1434 transaction sides this year so far involving foreclosed homes in Shasta County in the last 12 months as of this morning, according to data from the local MLS. Here are the top 10 brokerages, according to the data.
Hm. Well, I'm not arguing with the paper. They wouldn't print it if it wasn't true, would they? Still, it would be helpful to the general public know just what "prestigious designation" the ad referred to.
ReddingHomesBlog. The Number One real estate blog of the Northstate.*
*The "Northstate" refers to my immediate office space.
Statistical information is deemed to be reliable, but is not guaranteed. © 2010 MLS and FBS.
Prepared by Skip Murphy - Peak Performer Team on Wednesday, December 22, 2010 10:49 AM for purposes of market comparison.
Wait, is this the most lovely log home?
We showed you a log home yesterday that we thought was the most lovely we'd seen. Today's new listing in Lakehead looks pretty close, even if the image above has been nearly photoshopped into complete vivid unreality. There are plenty more images of this spectacular log home in Lakehead CA here. It been listed for sale by Chad Phillips of Coldwell Banker. It's a beauty, and available for about a million and a half less than the Siskiyou County log home we showed you yesterday. Interested? We can get you in for a look. Call (530) 244 7603.
Slow news day at the RS. About two hours after I posted yesterday about the first lovely log home, it was picked up and blogged on by an intrepid RS wag who neglected to even offer so much as a tip of his ink stained hat to my original post. Hey, believe me, I know the feeling. What to write about everyday? That's a lot of blank pixels staring back at me. But at least I try to give credit where credit is due when I plagia...er, elaborate on somebody else's blogpost idea. Where is the link-love? Shanna and Silas, please double his coal lump rations for Christmas bonus. Bah humbug.
The most beautiful log home?
We get to see many lovely homes in our line of work. This is one of the most beautiful log homes we've seen. Perhaps you've seen it too, at least from the outside. It's a stunning landmark, visible if you look around as you circumnavigate the road around Lake Siskiyou. You can buy it now. It's listed for sale by Bill Haedrich of Haedrich and Co. for $4.6M. There are a bunch more photos of this amazing Siskiyou County home at the link, and nicely photographed. Be sure to click. Then, call us if you have an interest in buying. (530) 244 7603 We're happy to help!
Luxury Home sales down
Shocking news, I know. Anyway, this came to light from the LA Times today. Rich Hollywood folk are seeing their home prices decline in such places as Malibu and the Hollywood Hills and all. Click on the image to read and weep.
Which started me wondering about the plight of luxury homes around here. Looking back at 2010 so far, we've had 41 Redding area homes sell over $500K. Now, $500K won't buy much in Malibu maybe, but you can get a heckuva nice home in our area within that price range. In fact, only 4 homes over a million dollars have sold, including this home with remarkable colored sky we featured here a while back.
Unfortunately, we had no buyer. But somebody did buy it. Perhaps of interest, the average Days on Market for these luxury homes was about 6 months, and the average sale price was 93% of asking price.
Is it true, what they say? That the rich are not like you and I? Maybe so, but their real estate is just like everyone else's, and has gone down in value. Here's the current crop of greater Redding area homes over $500K. Asking price, that is. There's about 130 available today. If you're bargain shopping, give us a call.
200 years of national prosperity in 4 minutes
This is a follow up to yesterday's post about the importance of real estate property rights as a foundation of national wealth. This is a fascinating short video of the last 200 years of national health and wealth. Here, normally dry statistical data is portrayed in an animated visual format that makes it easy to watch and understand. Well worth 4 minutes of your time.
Is property ownership the source of national wealth?
Here's a short, thought provoking article a that makes the case that private property ownership is the basis on which all national wealth relies. Well worth a read. Sometimes the important role of real estate property rights as the foundation of modern civilization is not immediately apparent to everyone.
Local Redding area home sales for November
Here's the latest chart of local home sales. I try to get this out every month. Again too, this chart may have different numbers than you read elsewhere. I limit the range to what seems like the truly local sales, from Shingletown to Whiskeytown, and from Lakehead to Lake California. The included areas seem to be the most reflective of local conditions. The full MLS has sales in Fall River Mills and outside Shasta County that are not really relevant to greater Metro Redding. So with that in mind, here's the chart of the last 24 months.
Sales are down. Inventory is down some too. We can feel it. We have several buyers looking hard, and not finding much. Part of it is the typical seasonal cycle of real estate in our area, which you can see evident over the course of the chart. Here's the numbers that support the chart.
Judging from the posted legal notices in the newspaper, there are still a raft of foreclosures on the way. That's really the defining factor of our market. Rates are going up. That's going to have an impact too.
It is what it is. If you need to buy or sell, there's not much point in wishing for different conditions. We all just have to make the best of what we are given.
Pages
Blogroll
My links
- Foreclosure Deal of the Day
- Foreclosures around Redding
- Local links
- Local neighborhoods
- Search our MLS
- What’s it worth?
Other links
Categories
- Apps
- Articles in print
- Auctions
- Awards
- Calculator
- Finance
- Foreclosures
- Free
- Fun
- Government
- Green building
- Igo
- Informational
- Investors
- Legal
- Luxury homes
- Market trends
- Mortgage modification
- Opinion
- Photography
- Predatory lending
- Real Estate
- Record Searchlight
- Redding
- REOs
- Self indulgent
- Shasta Lake City
- Short Sales
- Taxes
- Top 10
- Uncategorized
- Video
Tags
Meta
Foreclosure Deal of the Day
- 8702 Landmark Circle Redding 96001 Was $1.175M Now $414,500 May 18, 2012A $760,500 discount! Where else can you get a home for 3/4 Million Dollars off? No picture of the kitchen? Nope. It’s listed as a 1996 built 3,358 sqft 4/2.5 on about 3.5 acres. We can see it has a pool with some big rocks to jump off. Representing the seller’s interests is Reciprocal Agent […]
- 10618 Old Oregon Trail Redding 96003 ’86 1784 sqft 3/2 1 acre $159,900 May 18, 2012Here’s a bank owned Ranch Style home on an acre just east of Redding School of the Arts. According to records, this one is an unwanted US Bank asset. Representing their interests in this sale is foreclosure listing broker Diane Abair of Bears Den Realty. She writes of it: “Not far from Shasta College this […]
- 14231 Edwards Redding 96003 Got Shop(s)? $230,000 May 18, 2012In addition to 100ft of creek frontage, this has 2 detached shops, 1500 sqft and 24 X 30. Or, so it said in the prior listing, a failed short sale. The current listing as a HUD foreclosure doesn’t say anything about the creek, but the parcel map makes it appear so. It’s kind of an […]
- 1345 Mistletoe Redding 96002 2396 sqft 4/2 .42 acre $150,000 May 18, 2012This big REO home seems to have last sold for $210K, almost a decade ago. Get it for less now. Looks like the kitchen was stripped. Hey, remember seeing the prosecution for that property crime in the news? Neither do we. Little matter, apparently. Of the many hundreds of stripped REO properties we’ve seen and […]
- 6730 El Camino Redding 96001 Was $275K Now $110,000 May 18, 2012Here’s a HUD home in lovely Westwood Manor. At $78 per sqft, it’s a comp the neighbors may not enjoy. Of the 17 homes that have sold in Westwood Manor over the last 12 months according to the Shasta MLS , the average price was $96 per sqft. So why price this one so far […]
- 11925 Jack Pine Redding 96003 Got Shop? $200,000 May 18, 2012Here’s a home with really nice looking shop, on 1.89 acres. The house is a ’92 3/2 of about 1317 sqft. Here’s a home you bought if you are a US taxpayer. Your Fannie Mae organization now wishes to be rid of it. Did we buy it full price and sell it for a loss? […]
- 3110 Bedrock Redding 96003 Lake Redding Estates $207,000 May 18, 2012Yabba Dabba Doo! There are 2 homes listed for sale on this short street in Lake Redding Estates. This one looks really nice. and as we say (over and over), location is everything in real estate value. This one has it. Not far to the fantastic Sacramento River Trail system, Caldwell Park, McConnell Arboretum, Turtle […]
- 3620 Ouray Shasta Lake City 96019 ’04 1165 sqft 3/2 $93,000 May 18, 2012Tahoe Style? 8 years ago, this home sold new for $135K. Now it’s even more of a bargain. We wonder why the driveway doesn’t quite meet the curb. Ran out of cement? Ah well, an easy fix. Or live with it for 8 years, apparently. Representing the government side of the sale is foreclosure listing […]
- 22132 Graystone Palo Cedro 96073 ’88 3780 sqft 5/4 on 5 acres $230,000 May 18, 2012This country home is just off Deschutes, and features a lot of room for the money. It’s been listed several times for around $400K. We last showed it as a failed short sale. Our impression is that it was used as a senior care facility, or some similar application. A prior listing says the big […]
- 3201 Appian Way Redding 96002 Was $265K Now $62,000 May 18, 2012More than a house, it’s a Rorshach Test. “What do you see when I show you this image?” “Major fixer or tear down, depends on your ambition. Good location on Shasta View near Hartnell Ave. intersection.” So writes foreclosure listing agent Kevin McLachlan of Coldwell Banker. So, what you see before you depends on your […]
