Chico, CA Real Estate News

By Ryan Vaught
(Ryan Vaught Real Estate)
November 18, 2008 Many real estate listings come from individuals who tried on their own first to sell their home. Sellers who try to sell their own home learn the hard way that selling a home is not easy. Keeping it sold and getting to the closing table is even more difficult. What are the pitfalls involved in selling your own home? Pricing: Being that you are not daily involved with the real estate market it will take a lot of research and hard work for you to figure out how much your home is really worth.  Manytimes "FSBO's" (for sale by owners) end up pricing their house incorrectly. Face-to-face negotiations can be difficult, even when the buyer really wants the house. Having a realtor that can do the negotiating on your behalf really helps take a lot of the stress out of the home ...
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By Ryan Vaught
(Ryan Vaught Real Estate)
November 13, 2008 Here is a scenario that you may encounter when you sell your home. You make a listing appointment with a real estate agent who shows up with a detailed market analysis and a list of all the advantages of listing with his or her company. The agent then walks through your home with you, making suggestions about how you can present your home at its best.The real estate agent's recommendations about cosmetic "fix-ups" make some sellers feel a little uncomfortable.  If the suggestions about the cat box, spider webs, kitchen and bathroom cleanup, and removal of clutter make you feel a little defensive, remember that none of this is personal! Most sellers need a little coaching to make their homes show well.  Providing suggestions for home staging is an important part of an a...
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By Ryan Vaught
(Ryan Vaught Real Estate)
November 12, 2008 If you are about to list a home that you have lived there for many years, you know that it is not perfect. For example, there might be a leak in the basement that is noticeable only after a heavy rain. Your garage door might stick, and the dishwasher may be prone to work stoppages. Every home has a few quirks. When it is time to sell your home, you have a choice of either making the necessary repairs or letting the buyers know about the problems. Material defects must be fully disclosed.  Some buyers will order a structural inspection in order to learn exactly what they will be getting. Even if the buyers don't ask for an expert to look at the house, it is the seller's responsibility to disclose any known defects in the property. The seller's agent will provide the dis...
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By Ryan Vaught
(Ryan Vaught Real Estate)
November 11, 2008 Finding A Real Estate Agent in Chico Finding an experienced, reliable real estate agent whom you like and trust is the first step in locating your new home and/or selling your current home. Here is an approach to finding the right agent. Do some homework online.  Search for realtors in your area.  Just go into a search engine like Google and type in something like, "Chico(your city) realtors". You could also search for local realtors that you've heard good things about.  For example, "Ryan Vaught Real Estate" to find more information about that realtor.   Take some time searching the net and finding some valuable information. From you online findings, call some of the realtors offices that sound good to you. Describe the type of home you are looking for.  Ask them any ...
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By Ryan Vaught
(Ryan Vaught Real Estate)
November 7, 2008 Selling a home is one of the most complex transactions that people are ever involved in. Finding a buyer is often the easy part! When you find someone who wants your home and who has the money to buy it, it is still a long way to the closing table.You must first negotiate a purchase contract that covers the price and all the terms of the agreement. Will the buyer qualify for the loan amount they want? When and how will the transfer of title occur? Under what conditions can either the buyer or seller back out of the contract? A professional home inspection will inform all parties about the condition of the property. Having a good agent to handle the details can make the difference between a successful transaction and a failure. The buyer must obtain financing, and the le...
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By Ryan Vaught
(Ryan Vaught Real Estate)
October 29, 2008 If you are selling a home, the buyers will probably include a home inspection clause in the offer. This will allow them to hire an expert, called a Home Inspector, to make sure that the house is structurally sound and all the systems are working properly.  The home inspection consists on an in-depth report of the property with a laundry list of things they look at such as the plumbing, electrical wires, foundations, heating/cooling systems, etc., etc. The best  time to prepare for the home inspection is before you sell your house!  You, as the owner, usually know about most of the defects in your house, such as plumbing or electrical problems or leaks that occur when it rains. When you decide to put your home on the market, you should repair any defects immediately. You...
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By Ryan Vaught
(Ryan Vaught Real Estate)
October 28, 2008 Have you ever walked into a house that feels like you are stepping into a dimply lit dungeon?  No, I'm not talking about a festively decorated Halloween house.  I'm talking about a house with drawn curtains, dim lighting, excessive amounts of dark colors, and overgrown shrubbery blocking any last hope at light.  You don't want this to be your house during a showing. It might seem like a small thing, letting in the light, but when prospective buyers are walking through it's not.  A dark house is not appealing to most buyers.  Most people prefer homes flooded with light, especially and great sources of natural light.  So in order to make sure your house is the "brightest" choice, follow these simple steps before any open house or showing of your home: Clean all windows in...
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October 27, 2008 Is it better to show a house empty or with the furnishings in it?  First off, many times you may not have a choice on the matter.  If you already purchased another home, you would obviously need to take your furniture to your new home.  If you haven't bought a home yet, then you have to keep your furniture in the house.  My advice is to keep some furniture in your house that you are selling- the key word is SOME.  The furniture and belongings in your house should showcase it and bring out the highlights.  For example, if you have a nice high countertop in the kitchen you would want to leave your perfectly fitting high barstools in that space.  On the other hand, if you have a large workout machine scrunched into your already small master bedroom you should find a place ...
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By Ryan Vaught
(Ryan Vaught Real Estate)
October 24, 2008 Many home sellers are disappointed by the first offer they receive. For example, when your agent calls to say that she has an offer on your home, your adrenaline might start flowing profusely. You get really excited, but your happy bubble bursts when you are presented with the contract. It's just not enough! The buyers asked for your new washing machine, and they also want to postpone the closing for three months. You don't see how it can work! Before rejecting any offer on your property, you should consider making a counter offer. Rarely does an offer look the way it would if you had written it yourself. Consider the good and bad points of the offer, and work with the agents to find a middle ground that you and buyers can live with. You may have to go back and forth s...
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By Ryan Vaught
(Ryan Vaught Real Estate)
October 23, 2008 This is a loaded question with no definite answer but let me give you some tips.  Right now, many people believe that the market in Chico is in favor of buyers, being that the housing prices are down some from what they were a year or so ago.  With that being said, most buyers have to also sell their current house in order to buy their next home.  So in that case, you may not be able to sell your house for the ultimate "high" price but if you go to buy another house in Chico, or an a town with a similar market, then you will not be spending as much either.  This makes it a wash.  Some exceptions to this may include, if you are a first time home buyer right now market conditions are in your favor.  Or if you are moving from a different town that may have a different mark...
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By Jeanne Newton
(Coldwell Banker Dufour Realty)
I just left my client who I am helping in a short sale process.  She purchased the run-down home 3 years ago in a run-down neighborhood. She secured a loan through a well-known lender even though she had only a small income coming in: monthly SSI of $856.00, adoption care credit of $617.00 per month and $295.00 of monthly welfare money. It was her very first home purchase and she knew nothing of the process. She did not have a realtor and did not have any inspections done on the property.  Immediately after moving in, the roof started leaking,  It was cold and drafty.  She had rats and foul odors from an unknown source. The gas pipe broke outside, most of the house siding flew away in a wind storm and she just financially could not fix anything.  This woman told me she cooked her Thanks...
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By Ryan Vaught
(Ryan Vaught Real Estate)
October 21, 2008 21+ Common Closing Costs For Buyers 1. Down Payment2. Loan Origination Fee and Points3. Appraisal Fee4. Credit Report5. Flood Letter6. Private Mortgage Insurance (PMI) Premium7. Home Owners Insurance Premium8. Mortgage Insurance Escrow9. Home Owners Insurance Escrow10. Property Taxes Escrow11. Closing Fees12. Recording Fees13. Mortgage Title Policy14. Owner's Title Policy15. Mortgage Interest Adjustment16. Survey17. Termite Inspection and Building Inspection Fee18. Tax Servicing Fee19. Lender Inspection Fee20. Notary Fees21. Federal Express (if needed)* Other - Misc. Fees ----------------------- Take a look at my latest market reporthttp://www.ryanvaught.com/?cf=mls/report1 Currently Ryan has about 40+ listings in inventory, and will have sold over 23 homes so far in 20...
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By Ryan Vaught
(Ryan Vaught Real Estate)
October 20, 2008 18 Steps Most Buyers Take To Buy Their Home Step #1. Look for an agent to help you through the maze. Step #2. Interview the agent...set an appointment with an agent to find out if they have the skills, services and professional attitude you're looking for. Step #3. Discover if the agent is working "for" you or "with" you... client or customer? Step #4. Clarify your wants and needs to your agent...let them know your objectives and timetable. Step #5. Have the agent help you establish your purchasing power...this may include getting preapproved. Step #6. Select the best three to five properties to see. Step #7. View each property objectively. Step #8. Write the offer to purchase following the "6 Keys To Making You & Your Offer Look Great". Step #9. Have your agent presen...
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The following questions to ask yourself are the keys to being ready, willing and able to purchase when you find the right home. Doing the homework and getting your papers in order will make the home buying process much easier. Question #1. Do you have a current lease? Question #2. Can you sublet your current residence? Question #3. How important is it to remain in your current residence until the lease expires? Question #4. Can you be flexible on dates? The following questions to ask yourself are the keys to being ready, willing and able to purchase when you find the right home. Doing the homework and getting your papers in order will make the home buying process much easier. Ryan's Properties For Sale   Page 1 of 4Compare Favorites 000 Grubbs Rd, Oroville $2,600,000         Small acrea...
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By Ryan Vaught
(Ryan Vaught Real Estate)
October 2, 2008 Key Questions To Ask A Home Inspector Before Hiring One •· What type of licenses, certificates or designations do you hold? •· What is the scope of your inspection? How detailed will the inspection be? •· How many inspections do you do per year on residential homes like ours? •· How long does the actual on-site inspection normally take? •· Will you allow us to accompany you on the inspection? •· What type of report will we receive and will it include estimates of costs to correct defects? •· Do you carry errors-and-omissions insurance or give any warranties/guarantees? •· How much does an inspection cost for a property like ours? •· How quickly can we get it done? •· Do you have a list of past customers and clients that we may call as referrals?   Interested in learning ...
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By Ryan Vaught
(Ryan Vaught Real Estate)
September 30, 2008 Issue #1 Why buy a condominium?Make a list of all the reasons you want a condominium rather than a single family detached house. Issue #2 Is what you're looking at really a condominium?If you want a condominium be sure you're not buying a look-alike (ex: townhouse, zero lot line, etc.). Make sure it is technically a condominium. Issue  #3Pay close attention to the covenants, restrictions, by-laws, indentures, etc.Are these things you would be okay adhering to? Issue #4Don't hesitate to contact the "Board of Directors" for questions and concerns.This is the body who should be able to give you the facts on key issues that may be important to you and also make you aware of past problems. Issue #5Take time to learn the key rules governing condominiums.3 Federal, state and...
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#1 There is no perfect house......when you find a house/property that is consistent with your top few priorities -consider writing an offer. Seldom does a buyer find a property that has more than 85% of what they want/need. #2The popular properties priced right go quickly-so be actively looking on places such as ryanvaught.com for the newest property listings in your area.  #3Package yourself and your offer so that both look good to a seller. You may be in competition with one or more buyers for the same property. See post from September 26, 2008 "5 Keys To Making You & Your Offer Look Great in Chico". #4The home buying process is complex, so consider using professional service providers such as real estate agents, attorneys, etc. Also, do your homework and research the home buying proc...
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Key #1Proof of ability to pay... have evidence of loan approval or cash. A preapproval letter from a lender is best. Key # 2 Earnest Money...put down enough earnest money to make your offer look attractive to the seller. Think about 10-20% as a good guideline for a down payment. Key #3 Offer a realistic price for the property that you think the seller might accept. If you are putting in an offer way under asking price your chance of acceptance is much lower.  However, when making an offer consider how long the house has been on the market and how "hot" or popular it is with other potential buyers. Key #4 Be careful not to include too many terms, conditions & contingencies that might make your offer less desirable to the seller. Only include those terms, conditions & contingencies you re...
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By Shannon Karlstrom
(Aloha Realty)
Today in Chico, CA, there are 446 active single family homes available on the market as indicated in the Sierra North Valley MLS. 92 homes are currently pending sale, representing a 21% absorption rate. During the month of August: 68 single family homes were reported sold, Average sale price, $302,339, Median sale price, $279,450, Average DOM (Days on Market), 74 Sold homes sold for an average of 92% of their list price. Compared to the activity during Q2 of 2008: Click ChicoRealEstateVoice.com to read more...
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By Ryan Vaught
(Ryan Vaught Real Estate)
Some information I have collected over the years on your decision of selling your home.http://www.ryanvaught.com/?cf=articles/seller/shouldyousellyourhome Time to move on? Selling your home is always a big undertaking, but if you're armed with the right strategies and a bit of finesse, you'll be out the door at the price you want. This guide will show you: When to put your home on the market to up your shot at a quick sale How to price your home fairly and effectively in order to attract buyers The entire process of selling a home, explained step-by-step in plain English Should You Sell Your Home? Selling your home is a big decision that you should make for only the right reasons. Good Reasons to Sell Your Home Circumstances may force you to sell your home, or you may have your own reas...
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