Chico, CA Real Estate News

By Sandi Bauman, Chico CA Realtor
(Chico Homes Real Estate)
My Time at Bidwell Park by Zachary Staggs, Age 13One of the first things that we did when we moved to Chico, CA was go to Bidwell Park.  We were surprised to see that there were a bunch of little spots along the creek with picnic tables and little barbecues. We pointed a few out, but my mom had to have the perfect spot. It had to have some shade, but not too much, and it had to be off the road a ways so that we had some privacy. But we finally found one, and piled out of the car.  It was a great spot!  My sister Alexa was 4, and we made a little shallow area for her. We even built a dam, and got the water pretty high. There's a log that sticks out toward the middle and reaches up out of the water, and Alexa loves to get on there and bounce on it, pretending it is a horse.  Right next to...
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By Sandi Bauman, Chico CA Realtor
(Chico Homes Real Estate)
June 2007 Market Report for Chico, CAby Sandi Bauman     Realtor, ABR, e-PRO         Chico Homes     2580 Sierra Sunrise Terrace, Suite 120     Chico, CA  95928     (530) 864-5407Search the entire Chico MLS here!  http://www.chicohomesearch.netHere are the numbers as reported by the Sierra North Valley MLS for the month of June, 2007.Market Statistics All MLS Statistics for:  Single Family Residences in the greater Chico area   Active:  557Average Price:  $446,142Average Days on Market:  100Total Listed in June:  158Total Sold:  84Percent Sold:  53.16%Average List Price Sold:  $392,668Sale Price/List Price Ratio: 97.23%Average Days on Market Sold:  62Average List Price Unsold:  $421,418Percent Expired: 17.72%  If you are relocating or in the market to purchase or sell real estate in Chi...
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By Ryan Vaught
(Ryan Vaught Real Estate)
July 2007 ReportChico home sales are up year-to-date from last year. Roughly 15% more homes sold so far this year, than last year at this time. It is hard to argue that the market is tanking and slow with a figure like that.Much of the increase is from the chico condo inventory. Chico had several large condo developments, converted from apartments, hit the market last year. It took a while for this inventory to sell off.If you would like information on Chico condos, visit my new site, dedicated to Chico condoshttp://www.chicocondos.net/But regardless, this is great news.AbsorptionTake a look at a graph from my market report. This is an absorption rate chart. Red shows the homes off the market, green shows the homes on the market.In a stale market, you'd see quite the opposite of what yo...
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By Sandi Bauman, Chico CA Realtor
(Chico Homes Real Estate)
 Absorption Rate and Pricing a Listingby Sandi Bauman, Realtor, e-PRO, ABRI was just re-introduced to the term "absorption rate" and how it applies to real estate.  Up in my neck of the woods, it's not a commonly used phrase, and as far as I know, not a common practice used when pricing a property.  Although the principle is one that I've used to an extent, (without remembering there was a term and formula for it) I think that I may explore utilizing the absorption rate information when working with a seller to price their property.Columnist Jerry Rossi explained it beautifully in the June 2006 edition of Realty Times.  http://realtytimes.com/rtapages/20060623_absorptionrate.htm  Be sure to check it out!  I actually thought my broker had put together Jerry's eloquent example for my excl...
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By Ryan Vaught
(Ryan Vaught Real Estate)
Ryan is a Realtor in Chico CA, and specializes in working with sellers. Below are his thoughts on virtual tours and internet marketing.Why do I pay for professional virtual tours on my listings? It is not because it is cheap, I will tell you that. For my current 15 listings, even with a volume discount, Chico Virtual Tours would charge me $100 a listing. That is $1500, before I ever see a dime, get an offer or open escrow. Why am I shelling out the big bucks for virtual tours?Before I start, I want to add a side note about virtual tours. They are not all the same. If it isn't high quality, or at least better than a still photo, it is not worth having. Why would I get a virtual tour that is low quality, when I would be better off taking a bunch of photos? There is no point, unless your t...
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By Sandi Bauman, Chico CA Realtor
(Chico Homes Real Estate)
Sandi Bauman | Chico Homes | (530) 864-5407 039490003 RIVER RD, Chico, CA Almond Orchard!! Farm/Ranch offered at $1,700,000 Year Built Unspecified Sq Footage Unspecified Floors 0 Parking Unspecified Lot Size 127.55 acres Maint $0 per month DESCRIPTION According to seller, first 60 acres are in almonds that are approximately 20-25 years old. These older trees are mostly Tokyo and Peerless, with mixed interplanting. The second 60 acres were planted in 2004, and are coming into their 4th leaf. These are planted 50% Nonpareil, 24% Carmel, and 25% Butte. There is a large barn on the property with septic, electric, and a small well. Solid set fed by 3 diesel ag wells. see additional photos below PROPERTY FEATURES Solid set irrigation Large barn w/ electric, bath, well 3 Diesel ag wells Class...
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By Scott Gormley
(Oak Valley Mortgage-California Home Loans and Refinancing)
Virgil Cole with Keller Williams in Chico, California gives a testimonial about his experience as a Realtor, working with Scott Gormley and Oak Valley Mortgage. I'm looking for great Realtors across the California that are looking for a straightforward, no hassle lender that keeps clear lines of communication open at all times. Feel free to give me a call and we'll work together to get your clients into their next home in a smooth and timely fashion!Scott GormleyBroker/OwnerOak Valley Mortgage2006 Chico Assoc. of Realtors Affiliate ChairmanDirect: 530.592.8362Fax: 530.267.5555Website: http://www.CALoan.comBlog: http://www.CARealEstateBlog.com"You find the perfect home, we'll find the perfect loan!"
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By Scott Gormley
(Oak Valley Mortgage-California Home Loans and Refinancing)
If you are looking to purchase or refinance a home in California, don't hesitate to call me! We'll go through your personal situation and find the right loan product that matches up with your goals and objectives. We believe in straightforward, fair and hassle free home loan financing.Scott GormleyBroker/OwnerOak Valley Mortgage2006 Chico Assoc. of Realtors Affiliate ChairmanDirect: 530.592.8362Fax: 530.267.5555Website: http://www.ChicoLoan.comBlog: http://carealestateblog.com"You find the perfect home, we'll find the perfect loan!"
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By Sandi Bauman, Chico CA Realtor
(Chico Homes Real Estate)
Sandi Bauman | Chico Homes | sandibauman@sbcglobal.net | (530) 864-5407 2291 Mulberry Street, Chico, CA Adorable Chico Bungalow! 2 Bdrm Single Family House offered at $210,000 Year Built 1935 Sq Footage 600 Bedrooms 2 Bathrooms 1 full, 0 partial Floors 1 Parking Unspecified Lot Size 6,534 sqft HOA/Maint $0 per month DESCRIPTION Adorable 1935 bungalow with white picket fence! It's hard to beat the price on this Chico gem. Property has had major upgrades in the past few years including a new roof, carpet, shower insert, paint, siding, stove and heater. see additional photos below PROPERTY FEATURES Living room Refrigerator Stove/Oven Washer Dryer Laundry area - inside Yard ADDITIONAL LINKS Map of property Website Mortgage calculator ADDITIONAL PHOTOS Seller contact info: Sandi Bauman Chic...
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By Scott Gormley
(Oak Valley Mortgage-California Home Loans and Refinancing)
Up to a $400 Appraisal Credit at the close of escrow on all Real Estate or Refinance loans! In appreciation for the hard work of teachers and professors at California State University,Chico, I would like to offer my services as an employee benefit. My name is Scott Gormley and I'm the Broker/Owner of Oak Valley Mortgage, located in Chico,California. We provide real estate loans, home equity loan and refinance solutions and debt consolidation.I graduated from CSU, Chico as a Business Major and received a great education while I attended the college. I met some great professors that encouraged my entrepreneurial spirit and in return I now support them!Teachers and Professors give so much back to our communities and I firmly believe gaining a higher education promotes many of the qualities...
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By Scott Gormley
(Oak Valley Mortgage-California Home Loans and Refinancing)
Have you ever been to Chico, California? It's a great place to visit and live! We get the change of seasons from cold winter days where you can get bundled up (not like back east though), to clean a Spring from the rain and sun with butterflys and wildflowers, leading into a hot summer where you can swim in the swimming pools followed by the multitude of colors on the tree leaves changing in fall. After living in Southern California for many years, the change of seasons certainly feels more natural and led to a change in lifestyle for me.With the change of seasons in Chico,California comes a great list of things to do in each season! Here's a great rundown for some things to do in Spring!Springtime in Chico,California  California Nut FestivalCycling/Wildflower Century RideThursday Night...
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By Scott Gormley
(Oak Valley Mortgage-California Home Loans and Refinancing)
$400 Appraisal Credit at the close of escrow on all Real Estate or Refinance loans! In appreciation for the hard work that Enloe Hospital employees extend to the Chico,California community, I would like to offer my services as an employee benefit. My name is Scott Gormley and I'm the Broker/Owner of Oak Valley Mortgage, located in Chico,California.I write weekly articles in the North Valley Real Estate Guide, put out by the Enterprise Record, labled "Mortgage News."I write monthly articles in Inside Out magazine. I was the 2006 Chairman of the Chico Association of Realtors Affiliatee Committee. The committee represents over 130 local businesses in Chico,California.I'm a straightforward person that works hard for my clients and I seek win/win relationships.Please don't hesitate to contac...
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By Scott Gormley
(Oak Valley Mortgage-California Home Loans and Refinancing)
It's that time of the year again in Chico,California! California State University,Chico...otherwise known as Chico State college students are getting their bags packed and ready to transfer up here. In the meantime, I've had several moms and dads call me up, looking to make an additional investment in their children...aside from an education! That's right, they're looking to purchase homes that their children can live in while they attend Chico State! I think this is a great idea! Here's why:You can rent out the additional space to bring in income off the property while your child attends school!You can get a great tax writeoff to help absorb the costs of your children going to college!You can help your children and/or yourself build equity in a home through appreciation! Your children ...
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By Ryan Vaught
(Ryan Vaught Real Estate)
Chico State Parent/Student Investors & Market OutlookIt's that time again. The time when parent investors flock to Chico, and make offers on all the condos, small homes and rentals near the university. The majority of calls, I have been receiving lately (and emails) are from parents who are serious about purchasing a residence for their CSUC student to live in. Most are very serious, and have already narrowed down the search online. Others have more questions and have never been to Chico before.Another source of out of town buyers are CSUC faculty. I have several families that are either moving, or considering moving to Chico, to teach/work at the university.Today I met with two buyers, who wrote on a condo for their CSUC daughters. We reviewed the paperwork and viewed the unit this mor...
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By Ryan Vaught
(Ryan Vaught Real Estate)
The Chico market seems to be picking up. This morning I started early by writing up a contract on a larger home in Canyon Oaks (Chico's premier gated community). I have been working with these clients for about a year, and it seems like this may be the home for them. Between marketing calls, I prepared the offer. I also lined up the afternoon showings.I also spoke with an out of town seller this morning about a duplex. She has a clean, 4-plex for sale in Chico and is very motivated. Give me a call if you have an investor!I know of a 6 unit complex that will be on the market in a few months. It is being repaired currently, please call if you are in the market and I can give you more details. I then signed a few letters I wrote and sent them out. I also followed up with a few lenders, and...
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By Scott Gormley
(Oak Valley Mortgage-California Home Loans and Refinancing)
 I believe one of the most important people in the transaction to me as a Mortgage Broker is the Appraiser. But not just any old Appraiser, "A Great One!" There are times when I don't even meet a client and the Appraiser is the first person that a client meets. The interaction and personality of your Appraiser with the client can truly set the tone for your client of how well the transaction is going to go. When my Appraiser, Scotty Riemens visits a home, he is friendly and offers suggestions of things to look out for, such as the wood pile that was recently on the side of my new clients' home. He told them that wood lying next to the home will have moisture build up and wood destroying termites will transfer from the wood logs to the home! Great observation and my client appreciated th...
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By Ryan Vaught
(Ryan Vaught Real Estate)
Well since last December, the Chico market has had a much needed drop in inventory. Down from roughly 500+ homes, to somewhere in the 400s those with unrealistic prices and little motivation, ended up taking their homes off the market. This is great for those who are trying to sell, less competition means a much better chance at selling.Spring may entice those unrealistic sellers to put their homes back on the market, in addition to the sunny weather. Typically we see a larger amount of homes in spring and summer which are matched by an increase in the number of buyers looking. Now may be the small window of time where our lower inventory allows for a quicker sale.Buyers are active. I have personally witnessed in the last two weeks, two different buyers get outbid on their offers! One c...
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By Sandi Bauman, Chico CA Realtor
(Chico Homes Real Estate)
Make a point of visiting this beautiful, welcoming home! Situated on nearly an acre in a delightful, quiet neighborhood just north of chico, yet only minutes from the convenience of town. You won't want to miss the quality of this home at such a great price! Featuring formal living and dining rooms, comfortable family room, cheery dining nook, and open kitchen. Fabulous master suite with walk-ins, extra large shower, jetted tub and large windows. Huge back yard awaits your finishing touches- make it yours!                                                          $647,000Year Built:2001Size:2500 Sq. Ft. Lot Size:0.9 Acres Price:$261 per Sq. Ft. On Market:50 daysSchedule a ShowingEmail to FriendMLS:200609244Listing Type:ResidentialProperty Type:Single Family DetachedListing Agent:Bauman, ...
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By Sandi Bauman, Chico CA Realtor
(Chico Homes Real Estate)
               4724 Zinfandel Drive 95928, Butte County, Chico, CA Over the river, and through the woods, to our cute new house we go!! Although this lovely home is only 13 minutes from Chico, you will feel as though you are escaping it all as you drive home each night. Meander along an enchanted drive with breathtaking scenery including panoramic valley views, babbling brooks, dramatic fall colors, and, if you pay attention, a wild turkey, baby ground owls, or serene deer! Enjoy the cozy 2000 modular with beautiful newer flooring or build your dream home. Over 3 acres!             Year Built:2000Size:1222 Sq. Ft. Lot Size:3.19 Acres Price:$228 per Sq. Ft. On Market:94 daysSchedule a ShowingEmail to FriendMLS:200608407Listing Type:ResidentialProperty Type:Mfg. Home on LandListing Agent:...
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By Scott Gormley
(Oak Valley Mortgage-California Home Loans and Refinancing)
I had a client call me this weekend that just received some alarming news. Their mortgage recently got sold to a different lender.  She had two different issues:1.) Their mortgage had sold to another lender and now the new lender was requiring flood insurance on the home, which WAS NOT REQUIRED BEFORE! She was startled, as the new insurance premium was said to be hundreds of dollars a month! So naturally, the homeowner didn't want flood insurance and wanted to find a lender that would refinance the home without needing it. So, here is my response....When you purchase a home, and it is financed, the lender will ALWAYS require that you get flood insurance if your home sits in a Flood Zone, the appraisal will show this through a National Database. This protects the lender, in the event tha...
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