Northern California Properties

Listed at: $84,000. (LOT 9)

7406 Caballo Way, Redding, CA 96002
MLS #23-2967

Exceptional (Robles North Subdivision) vacant lot available. Impeccable homes with large lots, sewer, water, underground power & in the Redding City limits. LOT 9 – A corner lot with over 20,000 square feet. This provides ample room for a pool and RV parking.

Listed at: $314,000. (House)

421 Lincoln Street, Red Bluff, CA 96080
MLS #22-4536


Updated remodeled kitchen, counter tops with modern Natural Hickory cabinets, 3 bedrooms, and 3 baths. Large upstairs bedrooms enclosed back porch. Large backyard & Garage/Shop.

Listed at: $769,000. (Land / Modular Home)

53150 Bradley Lockwood Road, Lockwood, CA 93932 (So. Monterey County)
MLS #22-1329 101+ Acres Use as an Equestrians get-a-way – (3 APNs, Included) Located in the Lockwood Valley this 101+ac, 6.76 ac, 0.45 Old Adobe parcel. The residence has a NEW ROOF this property has everything you need for relaxing or a permanent residence. The westerly property line of the property backs up to Lake San Antonio Park. Surrounded by local vineyards, this piece would lend itself well to planting grapes or be perfect for horses or cattle. A secondary ADU or primary residence could be built while the new owner occupies the mobile home.

Construction Update – School Fees on the rise again.

Credit to:  Shasta VOICES News

Starting April 9, 2018 and for most of the month of April, all of the school districts in Shasta County are noticing and holding public hearings to “implement development fees”  established by the District against residential construction and reconstruction at $3.79 per square foot and against new commercial or industrial construction at $0.61 a square foot.
The proposed fees are authorized by Education Code Section 17620 and Government Code Section 65995.” If approved, the increased fees will take effect on July 1, 2018. These school impact fees add $6,822 to the cost of a newly constructed 1,800 square foot home in the Shasta County area. The fees are a 9% increase over current fees.

D R E – 7-1-18

First Tuesday Link

Remember when the California Bureau of Real Estate (CalBRE) was called the Department of Real Estate (DRE)? Well, those days are soon returning.

The California legislature recently passed SB 173, which:

  • renames the CalBRE the DRE; and
  • removes the CalBRE from the Department of Consumer Affairs (DCA) to classify it as an independent department under the Business, Consumer Services and Housing Agency (BCSH).

The new rules become effective July 1, 2018.

Real estate brokers and agents may recall conforming their existing marketing materials to “CalBRE” in 2013. Then, the DRE was renamed under the Governor’s Reorganization Plan 2 (GRP 2) and became a bureau within the DCA.

The consolidation of California agencies was intended to streamline government services and save money.

However, supporters of SB 173 claim the changes significantly increased costs for the CalBRE and reduced its efficiency. Further, bill analysis reports the CalBRE has encountered a lack of human resources support and utility payment issues from the DCA since its relocation.

Thus, the new legislation will effectively reverse those 2013 changes, returning the CalBRE DRE to its place as a separate department alongside the DCA and under the BCSH.

So, brokers and agents: be prepared to welcome back the DRE and embark on another mission to update your business materials in conformance with new government changes.

What is a 1031 Exchange?

In a typical property sale, the owner must pay taxes on the gain or appreciation of the relinquished property. A §1031 tax deferred exchange is the method by which one property can be sold and another “like-kind” property can be acquired while deferring the capital gains tax owed on the sale of the relinquished property. These tax-deferred exchanges are authorized by the Internal Revenue Code Section 1031. The “like-kind” definition for real estate is very broad – any real estate is like-kind with any real estate held for investment purposes. For example, the raw land would be like-kind with an office building or an apartment property.

There is no limit to the number of exchanges that an investor can do, making it possible to defer the tax consequences indefinitely; however, the property that is sold and that is acquired must be qualified property. Properties that do not qualify are primary residences, second homes, personal property, and inventory. Most other investment property qualifies.

One of the primary advantages of completing a 1031 exchange is the ability to defer taxes on the sale of your property and reinvest 100% of the proceeds. (Combined Federal and State tax rates can be as high as 25%). Other benefits include the ability to diversify your investment real estate by geographic location, property type, property quality, and potentially increase or create positive cash flows.

1031 Exchange Timeline
The identification of the potential replacement properties must be done within 45 days from the close of escrow on the relinquished property (the 45-day rule).
The investor has 180 days from the close of the relinquished property to close escrow on one or more of the properties that were previously identified (the 180-day rule).

10 Things to know about a 1031 Exchange

What a Government Shutdown Means for REALTORS®

We the people

Congress has failed to approve a Continuing Resolution (CR) providing funding for most government operations. Therefore, spending authority for most of the government expired at midnight on January 19, 2018. Until legislation providing for funding is signed into law, many offices and programs of the federal government are now shut down. This means many, but not all, government programs, including some that impact federal housing and mortgage programs, have been suspended or slowed due to the lapse in government funding -(More) ->  NAR Link

 

New Year’s Tips for Buying and Selling

Q1

Now that the end of the year is upon us, it’s time to start thinking about some New Year resolutions. If your 2018 resolution is to buy or sell a home, here are some suggestions to help you along the way. For everyone else, we’ve added some tips about building equity and investing in updates to your home.

Buying:

If you’re in the market to buy your first home or if you’re upsizing/downsizing, here are some ideas that can help you make this dream a reality:

  • Create a buying timeline and work towards your goal
  • Check your credit scores and work to improve your rating
  • Start or increase your savings for a down payment
  • Start the loan pre-approval process
  • Meet with your real estate agent
  • Start looking for homes

Selling:

If you are planning to put your home on the market in 2018, here are some good places to start:

  • Create a selling timeline to work towards having your home ready for market
  • Make a list of home improvements and a plan on how to manage them
  • Get rid of the clutter
  • Contact a real estate agent (If you don’t have an agent, click here to be introduced to a RE eBroker Group agent.)

Building Equity:

You may not be moving this year, but you can create a plan to increase your equity in the home you have now.  Here are some tips:

  • Take advantage of low-interest rates by refinancing to a lower rate
  • Consider refinancing to a shorter term loan
  • Make extra lump-sum payments. Consider using your tax refund, cash gifts, work bonuses, garage sale money, or any other unexpected income toward paying down your principal.
  • Pay every two weeks instead of once a month. A biweekly payment plan can substantially reduce the amount of interest you pay because you are breaking the interest accrual down from 30 days to every 15.
  • Pay a little extra each month. Even if you’re only rounding up to the next $100 increment, putting a little extra money towards your principal every month can add up.

 

Investing In Your Home

You can add a lot of value and add enjoyment to your home by investing in improvements and upgrades.

  • Choose a home improvement project that will yield a good return on investment when you do choose to sell
  • Create a home checklist to track maintenance projects over the year
  • Make eco-improvements to increase your home’s sustainability and reduce your utility payments over the long-term. These improvements are generally a good return on your investment when reselling.
    • Upgrade furnace to an efficient model
    • Upgrade windows for better insulation
    • Add alternative energy resources, such as solar power
    • Update toilets and showers to low-flow
    • Install a programmable thermostat
    • Update to energy-efficient appliances

Open House – Dec 9 & 10 ( 11 – 3 )

Estate Circle Drive
Foyer
Front Room
Gourmet Kitchen
Library
Lap Pool

22780 Daha Drive, Red Bluff, Ca

MLS #17-5709

$995,000.

This riverfront estate sits on approximately 2.09 acres / 2 parcels, 300 feet of river frontage on Sacramento River with boat ramp and dock and it’s one of the best fishing places in Northern California. You would also be able to build a guest cottage or a new home on the adjacent parcel. Enjoy Sacramento River views from almost every room in this remarkable approximately 4,753 square foot home built with special attention to design and detail. Five spacious bedrooms with private baths and walk-in closets. Lap pool with multiple entertainment terraces. Grassy lawn that rolls down to the riverfront. Large, mature trees and landscaping. Gated estate with tennis courts and much more.

Why list your home with The Virtual Realty Group

Here at The Virtual Realty Group, we understand the frustration of selling a home in the current real estate market. It is important to choose an agent who specializes in your area and stays current on real estate trends. Not only does your agent need to be educated in the market but he or she needs to be best suited to meet your specific needs. Our company has over 3000 agents speaking 26 different languages who are ready to serve you.

The Virtual Realty Group ensures that the right buyer for your property can easily find your listing. We are an Internet-based company so we are always up to date on the latest online marketing tools for your home. Today 90% of buyers begin their home search on the Internet. Your listing will be featured on MLS, REALTOR’s® webpage, our website, as well as, an additional 35+ local and national sites.

 

 

Tour the North-State

I love hiking, and through the years I’ve collected a few favorite trails that I keep coming back to. Some are shorter, and some require several days. Chamise Peak Trail is one of my favorite short hikes. It’s perfect for when you need a nature fix, but only have a couple hours to spare. It’s […]

via Hiking Trails In Northern California — NorCal Zen

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