Uncategorized Category
Redding City Council… Makin’ Moves
Council Approves Construction Incentives
Unanimous. That’s just not a word you get used to hearing these days in partisan politics. Perhaps though, it’s a little different when you’re dealing with your own back yard…
The Redding City Council has just unanimously approved some construction incentives that they believe will help the flagging building industry. This isn’t an entirely revolutionary idea- it’s the same one they’ve been using for the Downtown Redding area for some time, only this one is a little more grand in scale.
Spreading Out The Love
Basically, they decided that instead of making developers pony up mad cash for water and sewer impact fees, they only have to lay down 25% and can pay the rest out over a three year period (maximum- don’t even try to push it to four.). That’s like, 75% less than usual! Also, there is some interest figured in there, so it’s not like the City of Redding will be losing out on the deal.
Why the Love?
Well, after trying a few minor shifts, the Redding economy has continued to lag. Building permits are way down, which means the building of buildings isn’t being done, which means economic hardship. Redding City Council is doing what it can to prop up what is by far the most lucrative industry Redding has- construction.
Check the Deets!
I’m a two-bit hack when it comes to this reporting stuff, so if you want to know more you should read the article by David Benda in the recent Redding.com story (Incidentally, it is most likely not the same David Benda as this guy, but it would be rad if it was.).
Seriously, does anyone know Dave Benda? I want to know if he’s down with 80’s BMX action.
JERRY BAKER
GMAC REAL ESTATE PROFESSIONALS
530-524-8806
FIRST TIME BUYER TAX CREDIT-NO REPAY!
HOMEOWNERSHIP TRUMPS RENTING ONCE AGAIN!
Significant drops in home prices and interest rates have made home ownership attractive compared to renting once again. This has not been the case for the past 7 years or so due to a run up in home prices. Now that prices have dropped nearly 50% from the peak, and interest rates falling to historically low levels, mortgage payments are in line with rental rates.
In Redding, the median price has dropped to $190,000 according to a recent article in the Record Searchlight. Assuming a buyer can tender a 20% downpayment to avoid mortgage insurance and secure the lowest interest rate for a 30-year fixed rate mortgage, the monthly payment will be $816. Add $200/month for property taxes and homeowners insurance for a total PITI payment of $1,016. This home would rent for about $1100/month.
Factor in tax advantages of home ownership and owning has a distinct financial advantage over renting. The homeowner will have about $7,600/year in mortgage interest deduction and $2000 in property tax deductions for a total of $9,600. Assuming a buyer is in the 28% tax bracket, and has income to write these deductions off, the buyer will save about $225/month in federal income taxes. I have not figured the additional tax benefits of state income tax deductions for this analysis. This means the net monthly housing expense is just under $800/month. Clearly, owning beats the heck out of renting in today’s housing market!
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL ESTATE PROFESSIONALS GMAC
QUARTER CENTURY LOCA REAL ESTATE EXPERIENCE
Best in Redding? Really?
Record Searchlight
Anyone else find that the Record Searchlight’s “Best in Redding” insert on Sunday a little self serving?
Looking over the winners and runners up it’s obvious that some are there because they rallied their employees to submit their work place. Nothing independent or unbiased about it. Not exactly a clean poll …. Pollster guru Harris can be heard rolling in his grave.
The Searchlight then used the results to sell ad space back to the “winners”.
Our customers, through an independent survey company, rate us every day. We have no control over the results…. nada, zippo, no way, forgetaboutit …no control.
They have consistently rated their experience with us as satisfied to very satisfied ..98% of the time …
It’s because of our roles of being Trusted Advisors, Skilled Negotiators; and Expert Facilitators …professional service focused solely on our clients…
We couldn’t bribe them with an ad or their names in the paper …can’t do it …and wouldn’t want to.
One Size Fits All?
Really? Does it really? How many things do you own that are one size fits all? A car? maybe .. A House? maybe..but does it really? Do you fir in all cars? I doubt it …Do you fit in all 3 bed 2 bath homes? Nah ….How about the company you work for? Most people settle for one …not an exact fit ..but close enough to get by.
If you are interested in a true fit company wise …real estate brokerage wise ..you need to call me to find out… you may fit here..you may not …you’ll never know unless you talk to me..
Largest Monthly Home Sale Percentage Increase in 5 Years Reported
Breaking Real Estate News
Click Here for Real Estate Breaking News
Randy Pausch ..The Last Lecturer …Passed Away
http://video.google.com/videoplay?docid=-5700431505846055184If you only look at one video this year …this is the one to watch. Randy Pausch’s “Last Lecture” became an ideal for millions of people as a reminder of what’s important in living and in life. Here is a link to this remarkable man and his message. The Last Lecture
The Changing Face of the U.S. Consumer
Great article sent to me by Steve Crosetti with Fidelity Title… how the U.S. consumer is changing ….the whole article is here …the summary is Read the rest of this entry »
Best Steak in Redding Winner(s)
Well, the results are in…I used the auditing firm of Dewey, Cheatum and Howe …well actually I used Doreeta (aka Mom) to pick a winner. We had 61 entries total …good job everyone. The first name picked was Read the rest of this entry »
How Californians See America
Miscellaneous Tidbits, Uncategorized
Not all New Yorkers are loud.
PREMIER SERVICE® is the focus of Real Estate Professionals/GMAC. We are located in Redding, CA (at the North end of the Sacramento River Valley) in the midst of river, lake, ranch and mountain terrain.
Our Customer Satisfaction Rating, based on an independent survey, exceeds 97%. This is reflected in our 2008 "QUIE" Award recognizing the TOP 10 REAL ESTATE COMPANIES in NORTH AMERICA! REP/GMAC in #2.
