Archive for the 'Chico Real Estate' Category
5 Reasons Why the Chico Real Estate Market is Hot!
April 30th, 2008 categories: Chico Real Estate, Pick of The Week
Here are 5 homes in Chico that recently, within the last week, have gone pending or have been reported sold that were on the market for less than 10 days. I intended to blog on 2 of them as a “Pick of The Week” home, but just didn’t get to it in time. Sorry…
Could it be that we are in the kind of market in which “good deal” homes sell faster than I can blog about them?
1. 151 Aspen Glen Dr. 3/2, 1,420 square feet, built in 2000. Listed at, $259,000. Days on Market: 7. Status: Sold, $259,000. Listed by, Teresa Larson-Coldwell Banker. MLS# 200803003.
2. 911 Sheridan Ave. 3/2, 1,200 square feet, built in 1964. Listed at, $279,000. Days on Market: 7. Status: Sold, $275,000. Listed by, Lori Akers-C-21. MLS# 200801561.
3. 1871 Auburn Oak Way. 3/2, 1,316 square feet, built in 2001. Listed at, $280,000. Days on Market: 8. Status: Pending. Listed by, Jonathan Rilea, Keller Williams. MLS# 200803897.
4. 2801 Vistamont Way. Duplex. 3/2 and 2/2, 2,287 square feet, built in 2006. Listed at, $354,900. Days on Market: 10. Status: Pending. Listed by, Judy Cane - Aloha Realty. MLS# 200803791.
5. 2235 Dorado Cerro. 3/2.5, 3,116 square feet, built in 1963. Listed at, $599,000. Days on Market: 11 (ok. not 10 or less, but usually takes a day or two to input status change). Status: Pending. Listed at, $599,000. Listed by, Michael Fortino-Coldwell Banker.
And, as a bonus- I love bonuses- I just represented clients on the purchase of a 2 bedroom, 1 bath condo for $97,000. It was an REO (bank owned property) listed at, $114,900. Even the listing price was below appraised value. Aside from one other condo sale nearly 2 years ago that was a 1 bedroom and 164 square feet less, this was the cheapest condo reported on MLS in the past couple of years.
The Point
There are quite a few homes languishing on the market in Chico. But, for the astute, ready to move Buyer, there are many good deals to be had. And, those good deals- go Fast!
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Chico, CA Market Report 4/28/2008
April 28th, 2008 categories: Market Report
Since the beginning of the year:
188 Single Family Homes and 13 Condos have sold in Chico (includes, Forest Ranch, Durham and Cohasset) for a grand total of 201 Homes and Condos.
The average price of Single Family homes sold: $346,347. Median Price: $293,500. Average Days on Market, 82.
The average price of Condos sold: $170,250. Median Price, $145,000. Average Days on Market, 140.
Compared to the last quarter of 2007:
204 Single Family Homes sold, with an average price of, $350,672, median price of: 316,600. Average Days on Market, 94.
15 Condos sold, with an average price of, $174,660, median price of, $162,000. Average Days on Market, 89.
Currently:
456 Single Family Homes and Condos active (for sale). 139 are Pending sale.
The ratio of Pending sales to active listings is now 30%, up 2% from my previous market report of April 11, 2008.
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Chico, CA Market Report 4/11/2008
April 11th, 2008 categories: Market Report
There are currently 416 active Single Family Residential Homes and 41 Condos listed in Chico, ranging in price from $89,000 to $1,499,900. The average days on market for active listings is, 107 days.
129 Homes and Condos are Pending sale.
Since the beginning of the year, 141 have sold, with an average list price of $415,631. The average list price of those that have sold is, $346,314. The average sale price of those sold is, $333,679. The average days on market for those sold, 90 days.
Since the last Market Report, posted 3/19/2008, there are 11 more active homes and condos available for sale. 29 more homes and condos are in escrow. The ratio of pending sales to active listings is up to 28%, from 22%.
The average sale price of those sold has increased more than $2,000, when averaging all solds since the start of the year. The average list price is up, $8,076.
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Are We Turning the Corner on Housing?
March 24th, 2008 categories: Chico Real Estate
With bad news about the economy, housing, the weak dollar, and the war, seemingly constant of late, any bit of good news seems to be “really good” news when we hear it. Such was my sense this morning when I heard that sales of existing homes actually INCREASED in February.
According to the National Association of Realtors, sales by homeowners rose 2.9% last month. My initial reaction was… “phew”, this could be the kind of news that gets people feeling positive and engaged once again. My second reaction was, “Shoot. I missed my opportunity to seem really smart and insightful by pronouncing that, ‘Now’ is the time to jump into the real estate market and grab some great deals”. I still believe that to be the case… but, don’t seem nearly as smart or insightful telling you that in light of this report. If only I had gotten to it yesterday..
Well, all may not be lost. I, like most people are hungry for “good news” and will grab onto any bit of it like a drowning victim to a life raft…even if that life raft is a .99 cent store plastic inner-tube. We should be careful to look at the full picture and view the good news, and the bad, in context of the whole story. There seems to always be a bit of both.
In this case, the bad, or… not so good… is that home prices dropped nationally a record year-over-year 8.2%. Ouch. But, remember what I said about context. This price reduction, while painful for many, did spur an increase in sales activity that may be getting us closer to where we need to be in order to turn the corner on this market.
So, I choose to look at this report in a positive light and do believe that if you have the resources to pull the proverbial trigger on real estate, now is the time to do it. Even if prices were to experience some further reduction in price, if you are buying for the right reasons and the fundamentals are good, you should be comfortable with the decision you make to act now. In a couple of years, you will probably look like the smartest person in the room, because you took advantage of great rates and low prices and you didn’t sit on the fence waiting for everyone else to figure it out. They say, “timing is everything”, and by the time everyone else gets off the fence and back into the market, the best opportunities may have passed you by.
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Chico Market Report 3/19/2008
March 20th, 2008 categories: Market Report
Currently, there are 403 active Single Family Residential homes and 43 condos listed in Chico, CA, ranging in price from $104,000 to $1,499,900.
100 homes and condos are currently pending sale.
Since the beginning of the year, 113 have sold with an average list price of $407,555. The average list price of those that have sold is, $346,233. The average sale price of those sold is, $331,577.
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