According to CNNMoney.com, and the California Assoc. of Realtors Website, forclosures dropped dramatically in the first half of 2011.   Should be good news, right?   However, the main reason for the drop is not that the number of foreclosures are thinning out, but that the banks are backed up with inventory, due to the robo-signing scandal recently.   So despite a 29% drop compared to the first half of last year, our slow recovery will be stretched out even further.   According to RealtyTrac’s CEO, James Saccacio, as many as 1 million foreclosures that should have taken place in 2011 will now happen in 2012 or even 2013.   Good news for buyers, but not good news for the housing industry.   Rates are still extremely low, so it’s a great time to buy a home.   If you’d like more information about buying a home, please don’t hesitate to shoot me an email, or call me at 530-521-4611.

Bill

Check out this new Investment property that I just posted on my Web site. It is at 1144 W. 3rd St. in Chico. This Investment property has 12 bedrooms and 4 baths. Decent 3-bed, 1-bath fourplex in a great college area location. Lot’s of potential. Needs work. Has forced-air heating and cooling. Large .25 acre lot includes detached laundry room, and a large corregated storage building.

Check out this new Single-family property that I just posted on my Web site. It is at 3169 Canyon Oaks Terrace in Chico. This Single-family property has 5 bedrooms and 3 baths. Golf course living at it’s best. Lavish home located on the 17th hole at Canyon Oaks Country Club. Backyard overlooks lush views of course and beautiful pool, spa and water fall. Half acre of fully landscaped yard all on auto water system. Atop a grand staircase you’ll find the master suite. Master balcony offers views of city lights, sunsets and mountains. Throughout the home you will find features such as high ceilings, crown molding, granite, custom cabinets, French doors and more. There is a formal dining room, breakfast/sun room, separate living room, den and music/game room. Four car garage with large wide driveway. Great yard for entertaining. This home is a must see.

Our regional MLS system, CALREDD, will not longer be active as of 5:00pm today.   As of Wednesday, June 15, we will be on a newer, more comprehensive system, CRMLS, with the Matrix System.     You won’t believe the cool tools you’ll be able to use to search properties.   Or the ramped-up marketing tools that will be available once you list your house.   This is going to be a bit of a painful process, but our training has started, and we are on board with the benefits the Matrix system will have.   If you’re on my automatic email notification list, there may be a delay of a couple of days, but it will be worth the wait!

Bill

Check out this new Single-family property that I just posted on my Web site. It is at 4701 Hartley Dr. in Forest Ranch. This Single-family property has 3 bedrooms and 2 baths. Not a drive-by! Many upgrades to this older Forest Ranch home, set back from the street at the end of a dead-end street. Home is two levels. Upper level has 2 bedrooms, both bathrooms, kitchen, dining and living rooms. Italian tile in entry, bathroom, dining room and kitchen. Stainless appliances in kitchen, including a Bluestar gas range. Liz Claiborne wool carpet in living room, which features a Vermont Castings woodstove set in local river rock hearth. Dual pane windows throughout. Kitchen and master bath were remodeled in 2009. Only access to downstairs is through bedroom at west end, circular stairs. No bathroom downstairs. Downstairs does have family room with woodstove and bedroom as well. Also large utility room downstairs. Very nice house. Roof is 20 years old. Septic replaced in 2000. Detached garage/carport. Spa stays. Propane tank is not leased, stays with property.