There are 61 homes on the market in Chico Ca 1/2 acre or less. Prices range from 295,000- to 979,000 with a Median of 479,000. The Median home is on the market for 9 days, its 1750 square feet and is a 3/2 sitting on 6970 sq foot lot

In the last 30 days we have sold in Chico 114 homes. The low was 165,000 and the high 995,000. The Average was 464,584 and was a 3/2 1521 square feet on a lot of 7841 square feet. The average per square foot was $290 per foot. The market continues to have more buyers than sellers. If you need help buying or selling get a hold of me directly 530-518-4440

Thanks

Robert Hightower

Hey as we start off 2019, the traditional Real Estate selling season is upon us.  Moving forward in this year and for the foreseeable future we will have to deal with the effects of the Camp fire in the neighboring town of Paradise Ca.  The area has lost 14,000 houses, in the greater Paradise area.  To give you some perspective the city of Chico averages around 100 home sales per month of existing homes on less than a 1/2 acre.  Chico is nearly all built out and really doesn’t have the capacity to soak up many of the displaced folks.  With the natural housing pressures of Chico to now add the Camp fire on top of it we have a extreme buyer demand and should have for years to come.  I think sellers will be fine if they wait a year or two to sell if they are thinking about selling.  I do not feel like you will miss the  “boat”.

Looking at the numbers the average listing price is up 9% up over before the fire and the average closed sales price is up the same 9%.  Today we have 85 listings in Chico, SFR on less than 1/2 acre.  We are seeing over asking on most properties by about 4-5% and multiple offers on most.  If you have any questions about buying or selling in the Chico area moving forward please contact me directly 530-518-4440

Robert Hightower

Today’s market snap shot has 169 homes on the Chico market at a average listing price of $422,000.  282 Homes have sold in the last 90 days for a average of $355,000.  Over all the number of homes on the market seem to be holding steady.  Market is likely to go flat over the summer.

Robert

Prices continue to go up in the greater Chico area.  The average price of a home in Chico during the last 30 days was $332,702, the size of the property is 3 bedrooms and 2 baths average lot size 9849 square feet, with 1736 square feet, built in 1987.  82 total homes were sold during this past month.  Average days on the market was 46 days.

Today we have a total of 127 homes on the market.  In a normal market we have 350-400 units.  If you take out the new construction, homes that are built 2015 or older brings us down to 91 units!

If you are interested in buying or selling please give me a call 530-518-4440 lets talk!

I have stuck up a new page at www.SearchChicoHomesNow.Com for everyone to use its free and allows access to the Chico CA home buying market. As we are wrapping up the Summer of 2016 the market in the Chico Ca area remains hot. Inventory is down and demand is constant. If you are looking to buy please get in touch with me as soon as you are ready. If the raise in prices is giving you the opportunity to sell please call right away and ask how I might be able to get you a value on your home and provide you with great service.

If you have an Real Estate questions please send them to me at RobertHightower332@gmail.com or 530-518-4440

Thank you,

Robert Hightower

5 of the Biggest Mistakes Home Buyers Make

Buying a home opens up a lot of opportunity for mistakes, issues and problems. You could end up with a house that has a list of problems from noisy neighbors to a leaky roof. Here are 5 potential mistakes for you to avoid during your next home purchase.

Timing the market

Good luck with that, many very smart people have gone broke timing the market. The only way to know when the market has hit the bottom is when you see it going back up. Prices historically go up and down, and sometimes they go way down like they have in this post bubble market.

What you can do is buying during a low, like we have now. If you sit around and wait for the prices to continue down another 5-10% then you notice that interest rates have gone up a full point where does that leave your payment? Might be higher….Every family’s situation is different; usually the best time to buy the home you want is when you can.

Wrong location

Every location has a energy to it, and your new home and its neighborhood should match yours. Some places cater more to families, singles, young or old. Knowing that your location matches you and your situation should go a long ways to making your stay there a happy one. Buying a house is not a short term proposition, to just recoup the moving and expense of selling a home you need to plan on staying between 4-6 years normally.

You want to “kick the tires” of the area. Check it out at different times of day, and different days during the week. Does it have access to your favorite coffee shop? Grocery store schools etc? Make sure the location suits you and your needs before buying.

Can I see the past utility bills please?

Some homes just cost more to run. It can be older appliances, old HVAC unit, single pane windows etc. You don’t want to move into a home expecting that the cooling billing during the summer will be a normal $200 and find out it’s actually $800 that is a surprise you don’t need. If that happened you have two options, live with the high bill or there will be a lot of out of pocket expense to fix it? Ask for the bills.

Don’t fall in love with the staging!

Some homes are professionally staged. For many people they will get excited and think they are going to decorate the home the same way, and it will look fantastic. It will if you hire a designer or if you are a designer, but for most of the rest of us, when we walk into a professionally staged home, that is as good as it will every look! You have to look past this and think will the home suit my needs, will my furniture fit or will I have to buy new, is there enough space, or too much?

Don’t buy a fixer and not fix it

About half of the people that walk into my office here at Hightower Real Estate Group, or go to my website, Hightower-Team.Com are looking for a fixer. If you are not handy, if you have not done some of these repairs before, you could be setting yourself up for failure. If you are buying a fixer you need to know what the fixes are going to cost you. You should have a very good idea of your budget. I have done this a lot and can walk through a house and have my budget set by the time I get to the back door, but I do this a lot. Be honest with yourself, will I fix these issues or not, is there money in my budget to get these repairs done? Usually these fixes are done out of pocket. I do know of some loan programs where we can finance in the repairs, interested? Robert@Hightower-Team.Com One of the things I see most often is homeowners not fixing up their homes until it’s time for them to sell.

Every homebuyer has a number of concerns, all of which we can help with:

Setting a reasonable Time Frame
There are many variables in the home-buying process, meaning the time it takes to find and buy your new home varies. A typical home search process may take three to four months, or longer, including the mortgage approval process, comparing and evaluating properties, making an offer, getting our inspections and the closing process. The loan process typically takes 30-45 days, with the ability do close a cash deal in about 10-14 days.

Mortgage Process
Perhaps one of the most intimidating aspects of buying a home is the mortgage approval process. We’ll be here to help guide you through this, but there are many ways you can prepare early to make the process smoother. Start by making sure your budget is under control–make a list of all your monthly expenses, compare it with your income, and see if adjustments need to be made. You should also try to pay off small credit card balances. Start gathering documents you may need, such as W-2 forms, income tax returns for the past few years, pay stubs, records of child support or alimony, bank statements for the past several months, and your credit report. Also, be sure to allow for closing costs. I work with a preferred Lender, she has been able to get the deals closed for my clients before, during and after the housing bubble. There are a lot of changes in the way loans are approved these days as compared to 5 years ago. Getting an online quote is a place to start but close to worthless as far as using them to fund your loan. I want you to have a person that is local and accountable to you! Have you ever had a friend tell you they can not get a hold of their online lender? I have, its not any fun.

How Much Home can I Afford?
A guideline to consider is that most buyers purchase a home that costs about one and a half to two and half times their current annual income. For example, someone earning $100,000 a year might purchase a home for $150,000 to $200,000. Mortgage payments should be about 26-28 percent of your gross monthly income, some underwriters will take this number up to 30-31%. Existing debt is also considered in the mortgage process, and total debt payments (car payments, credit cards, student loans, etc.) should not exceed 40 percent of your gross monthly income. Paying down your debt can help you qualify for more home, you really need a quality lender that is working in the industry full-time.

Home Shopping
Before you start looking at properties, make a list of “must-have” features along with optional features you’d like to have. “Must-have” features may include the number of bedrooms and bathrooms you’ll need to accommodate your family, location (consider commute to work, which schools your children will attend, etc.), lot size and special needs (handicapped access, etc.). Optional features may include the architectural styling, bay windows, landscaping, etc. Having a clear idea of what you want in a home will help your REALTOR® find the perfect property for you. Also the deal breakers: which might be too big of a lot, certain area’s in town,etc. Knowing what your deal makers and deal breakers are when you start looking gets you off on the right foot. I also recommend that you keep notes when you are viewing homes for two reasons: One if you see more than 2 homes in a day you can get the features confused; Two if you see a deal maker or breaker you can write it down and share it with your realtor and family members.

Taking the time to educate yourself about the home-buying process is key to getting a home you love and can afford. As your REALTOR®, we are here to answer any questions you might have and guide you through this process.

Want help taking the stress out of the process? Ask me for my E book

Hightower-Team.Com