Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

For more information, you can visit my Web site or feel free to give me a call or text. 530-413-8383

Tammy Vertrees, Paradise California Realtor

Thinking about buying? There are dream homes out there, and I’m glad to help buyers find them.

There are fabulous homes out there right now, and I am more than happy to help my clients find exactly what they’re looking for. If you’ve been considering a move, either to downsize, upsize or change neighborhoods, I would be honored to help you with your search and even list your existing home.

I’m very encouraged by the activity we’re seeing in the market!

All the best,

Tammy Vertrees

Contact me today: 530-413-8383 or use my contact form.

Written by: Steve Cook   Mon, April 23, 2012

While inventories of homes for sale have been shrinking this spring, MLSs are filling the void with rental listings for single family homes that until recently were foreclosures. Some 16.1 percent of all listings on MLSs today are rentals, more than double the number in 2006, according to some reports.

Single family rentals are $3 trillion business today and growing as investors turn to real estate and opt to rent out the bargains they buy until prices improve. Today the single family rental market accounts for 21 million rental units or 52 percent of the entire residential rental market, according to a new study by CoreLogic economist Sam Khater.
Yet the single family rental market is poorly understood and almost invisible to economists and journalists because virtually all rental market data tracks multifamily properties and either ignores the single family segment or lumps it together with multifamily.

"Single family rentals are very distinct from multifamily and they behave very differently," said Khater in an interview with Real Estate Economy Watch. For example, on a per unit basis, rents for single family rentals run 1.5 to 1.6 times higher than multifamily. Unlike multifamily, millions of single familyrentals are listed on MLSs by real estate brokers, many of who represent new owners in acquiring investment properties. As the for-sale inventory has trended down since 2005, the rental share rose 13.3 percent last year alone. As of the end of last year rental closings were up 11.5 percent year-over-year while prices fell 9.8 percent during the year. Demand is strong. The national average months’ supply for single family rentals was 4.5 months in December compared to 6.2 months for homes listed for sale.

Another important difference is the nature of the tenants. Single family rentals, usually stand-alone properties in ownership settings, appeal more to families. In fact, the typical SFR tenant is a family that has just left a foreclosure and can afford to pay the rent on a former foreclosure but could not make the mortgage payment on their old home, perhaps because they bought with alternative financing or purchased at the peak and could not get a modification when their home lost value. Over the past five years, foreclosures have turned more than 3 million homeowners into renters. Typical multifamily tenants, however, are younger, generally single and more mobile, and have never owned a home.
Khater found a strong relationship between distress sales markets and single family rentals. Census data shows a correlation between single family rentals and the hardest hit areas of the so-called "sand states"-Arizona, California, Florida and Nevada.

Investors buying REOs and short sales in foreclosure markets convert them to rental units and homeowners in the same locale who have lost their homes to foreclosure rent homes that until recently were owned by other families who suffered the same ill fortune.

Original Post:

 http://www.realestateeconomywatch.com/2012/04/single-family-rentals-now-exceed-multifamily/

Contact me for your next investment: 530-413-8383 Call or Text

Gold Nugget Days celebrate finding a 54-pound gold nugget in 1859. The celebration began in 1959 and has continued every year since. The celebration of the discovery of the Dogtown nugget runs from April 26th through April 29th.

Find on this page:

• Badge
• Tent City
• Merchant Decorating Contest
• Miss Gold Nugget Pageant
• Gold Nugget Revue
• Donkey Derby
• Parade
• Children’s Costume Contest
• Sunday at the Museum

Gold Nugget Days Badge,

Gold Nugget Days badges sell for $2.00 each and can win you a pure gold nugget! Badges are on sale at the Gold Nugget Museum and from merchants all over the Ridge. Register your badge at the Museum to be eligible for the beautiful gold nugget. There is no charge to register.

Tent City

Take a walk back in time to life during the Gold Rush at Tent City, April 28th through April 29th on the Museum grounds. See miners living and working as they once did along the West Branch of the Feather River. See demonstrations of techniques such as panning, rockers with sluice boxes, hard rock, and dry mining. Visit Mrs. Bassett’s cabin, the trading post, and the undertaker. Don’t miss the reenactments of lawbreakers’ misdeeds — and the consequences! There will be food, games, and activities for the whole family to enjoy.

If you’re over 21, stop at the saloon for a game of cards, a look at the dance hall girls, and a glass of beer or wine.  Deputies will check IDs.

The Gold Nugget Days High Sheriff and his deputies will jail anyone breaking the law, including those not wearing a Gold Nugget Days badge.

Because the gold strike clearly is a good one, some permanent buildings have been erected. Be sure to visit the blacksmith’s shop, the schoolhouse, and the Wells Fargo Assay Office with its replica of the Dogtown Nugget.

Merchant Decorating Contest

Paradise Ridge businesses paint windows, put up decorations and displays and encourage their employees to dress according to the theme. Merchants support the festivites and compete to win awards such as cash prizes, gift baskets, gift certificates, a homemade quilt, advertising, and more. The event is sponsored by the Paradise Ridge Chamber of Commerce.

Miss Gold Nugget Pageant

Ridge high school juniors compete for the title of Gold Nugget Queen. Each girl must find a sponsor and escort, submit a portfolio and create a dress of the 1850-1899 period. The candidates are judged on the historical accuracy of their costumes, the quality of the portfolios, their poise and demeanor and their appearance. The dress is the most important factor. The 2012 Gold Nugget Days Queen will be crowned at the Opening Ceremonies on Thursday April 26th at 7:00pm at the Paradise Performing Arts Center.

Gold Nugget Melodrama

Gold Nugget Melodrama Poster

The ever popular melodrama returns to the Paradise Performing Arts Center after an absence of two years. “Passionate Perils in Pair O’Dice or the Revenge of Billy Rhode” is being performed in honor of the late Len Fulton. The action will include a stalwart hero, a lovely and endangered heroine, a vile villain, sultry saloon gals, and lots of chicanery, skullduggery, and laughter. Performances are on Saturday, April 28 at 7:00 p.m. and Sunday, April 29 at 2:00 p.m. Tickets are $15.00

Donkey Derby

The annual Donkey Derby staged by E Clampus Vitus 7-11 commemorates the race up the hill to Dogtown to show off their good fortune when miners found the 54-pound gold nugget at Whiskey Flat in April 1859. During today’s race, donkey and drover teams compete to get up the hill to Magalia community center and through an obstacle course-while carrying 54-pound weights. First, second and third place cash prizes are awarded the winners. Come root for your favorite donkey on Saturday, April 28th, from 9:00-10:00am at the Old Magalia Community Church.

Parade

The Gold Nugget Days parade sweepstakes award of $200 and a trophy go to the entry judged best in the parade. To be eligible for the award, the entry must reflect the Gold Nugget Days theme "Golden Memories". The parade begins at noon on Saturday April 28th.

View and Print the 2012 Parade Entry Form. Entry Deadline April 19, 2012.

The Children’s Costume Contest

The Children’s Costume Contest is a popular event and is sure to please young and old alike. The contest is open to children preschool age and younger, second through fourth grades, and fifth through eighth grades. The contest will be held at the Museum on Saturday, April 28th at 2:00pm

Sunday at the Museum

The Museum offers food, music and a time to relax after all the big events of Gold Nugget Saturday. From Noon to 4 p.m. there will be hoagie lunches for sale, lots of music, gold panning, blacksmithing and friendly faces. Live music performances will keep you entertained. Admission is free for this event.

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Lake Oroville Boating Lake Oroville is best explored by boat. Easy access is provided by several launch ramps around the lake shore, and you can rent boats at the Bidwell or Lake Oroville Marinas. On this page you’ll also find information about boating at the other Lake Oroville SRA areas, including the After bay, Fore bay and Diversion Pool. See current lake elevations

Marina/Rentals Boat supplies and rentals are available on the south end of Lake Oroville at Bidwell Marina or on the north end of the lake at the Lake Oroville Marina. You can call Bidwell Marina at 530-589-9175 or the Lake Oroville Marina at 800-255-5561. Two- and four-stroke motors are allowed on Lake Oroville, as are jet skis, sailboats, houseboats and kayaks. No-wake zones are strictly enforced, as are no-wake speed limits before and after sunset.

Related articles:

• Boating Safety: Things to Know Before You Go Afloat

Real Estate for Today’s Magalia and Paradise California Home Sellers and Home Buyers

Home Buyers | Home Sellers

For information on Paradise, Magalia, Chico, California and surrounding areas, contact me directly at 530-413-8383.

Real Estate Consultant Coldwell Banker Ponderosa Real Estate  www.TammyVertrees.com

 

 

 

recreation, boating, water sports

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What Is An Earnest Money Deposit?

An earnest money deposit, also known as a good faith deposit, is a specific dollar amount that a potential buyer pays to the seller in an effort to display their serious interest in a property. It’s important to note that an earnest money deposit is not the same as a down payment.

The Purpose Of An Earnest Money Deposit

An earnest money deposit is used to secure a purchase contract, which means the buyer doesn’t have to worry about the property being sold out from underneath them. Without an agreement, the seller would be free to sell the home at anytime. An earnest money deposit, however, secures the availability of the home as the potential buyer obtains an inspection, appraisal and financing for the purchase.

How Much Good Faith Is Enough

So, just how much of an earnest money deposit is required? Truthfully, it depends on a number of factors, including the home’s purchase price, your location and the standard as set by other sellers. In most cases, the earnest money deposit is negotiable and the seller will be happy in knowing that the potential buyer is serious enough to offer their money in good faith.

How An Earnest Money Deposit Is Used

If the transaction is successful and the buyer follows through with the purchase, an earnest money deposit is most commonly refunded to the buyer or applied to closing costs. If the buyer defaults or is unable to obtain financing, the seller often has the discretion to retain the earnest money deposit as damages or as otherwise described in the purchase agreement.

Using Your Dollars And Sense

When it comes to an earnest money deposit, it’s essential that buyers know who should receive the money and how to handle the payment. In most cases, the deposit should be made payable and presented to a licensed real estate broker, an attorney or escrow company. Your REALTOR® can assist in getting your earnest money deposit into the right hands. It’s important to obtain a receipt, which should clearly outline the purpose of the deposit. The funds will be handled in accordance with the purchase agreement and/or as agreed upon by both the buyer and seller.

Before handing over a good faith deposit, make sure that you have faith in the person accepting your money. Potential buyers should not give an earnest money deposit directly to the seller, nor should they give it to anyone who claims to be with a brokerage firm unless their credentials are verified.

Deep clean your house and you’ll brighten rooms and help maintain your home’s value.

   De-bug the light fixtures

See that bug burial ground within your overhead fixtures? Turn off the lights and carefully remove fixture covers, dump out flies and wash with hot soapy water. While you’re up there, dust bulbs. Dry everything thoroughly before replacing the cover.

Vacuum heat vents and registers

Dirt and dust build up in heat vents and along register blades. Vents also are great receptacles for coins and missing buttons. Unscrew vent covers from walls or pluck them from floors, remove foreign objects, and vacuum inside the vent. Clean grates with a damp cloth and screw back tightly.

Polish hardware

To deep clean brass door hinges, handles, and cabinet knobs, thoroughly wipe with a damp microfiber cloth, then polish with Wright’s or Weiman brass cleaner ($4). Dish soap shines up glass or stainless steel knobs. Use a Q-tip to detail the ornamental filigree on knobs and handles.

Replace grungy switch plates

Any amateur can wipe a few fingerprints off cover plates that hide light switches, electric outlets, phone jacks, and cable outlets. But only deep cleaners happily remove plates to vacuum and swipe the gunk behind. (OK, we’re a little OCD when it comes to dirt!) Make sure cover plates are straight when you replace them. And pitch plates that are beyond the help of even deep cleaning. New ones cost less than $2 each.

Neaten weather stripping

Peeling, drooping weather stripping on doors and windows makes rooms look old. If the strip still has some life, nail or glue it back. If it’s hopeless, cut out and replace sections, or just pull the whole thing off and start new. A 10-ft. roll of foam weather stripping costs $8; 16-ft. vinyl costs about $15.

Replace stove drip pans

Some drip pans are beyond the scrub brush. Replacing them costs about $3 each and instantly freshens your stove.

It’s the perfect time to celebrate Easter traditions or create new ones. A favorite tradition in many families is to gather everyone together and dye eggs for the Easter festivities. Rather than go with the usual, why not give the rainbow-like colors a try?

Did You Know…

You can achieve an amazing array of vivid rainbow-like colors for Easter egg dying from natural ingredients? Here are a few fun ones to try-and what beautiful results you can expect!

Red cabbage leaves = robin’s egg blue color

Orange or lemon peel = yellow

Carrot tops = yellow/green

Yellow Delicious apple peeling = lavender with flecks of rusty gold

Fresh spinach = pink with pale green tones

Celery seed = yellow

Fresh beets = pinkish red

Brown onion peels = orange

Chile powder = brown/orange tones

Cranberries = pinkish red

Fascinating, isn’t it? And chemical-free! It’s a wonderful craft to try with the kids or grandkids a few days before Easter. Experiment by mixing combinations or leaving them to soak overnight for more intense color.

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Just wanted to check-in and share something I thought was pretty incredible (and inspiring). I’m going to go out on a limb here and guess that when you were fourteen, you weren’t thinking about buying your first home. Well, believe it or not, there’s a young girl in Florida who has taken advantage of this incredible buyer’s market.

14-Year Old Becomes Homeowner and Landlord

(http://blog.sfgate.com/ontheblock/2012/03/13/florida-14-year-old-becomes-a-homeowner-and-a-landlord/)

“Instead of using her $6,000 savings to buy an iPad, Willow Tufano bought herself a distressed property. And now she’s renting it out. Willow got help from her mother, who doubled her investment. Together, the two spent $12,000 to buy a 3-bedroom Florida short sale that, in better times, was valued at $100K. Now they are partners, since Florida requires a homeowner to be at least 18 years of age, but Willow plans to buy her mother out as soon as she can so she can own the home outright when she reaches the legal age.”

Admittedly, it’s a pretty incredible story, and certainly not the norm. But right now I’m seeing a lot of market activity which suggests we’re going to see an uptick in sales and pricing. I think fear has been holding back a lot of people from seeing clear investment opportunities, and well, sometimes it takes the wisdom of a child to help us see the way!

If you are at all curious about potential properties in the area, do get in touch!

Contact me today: 530-413-8383 or use my contact form.

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Call or Text Me: 530-413-8383