What Am I Thankful For…
November 21st, 2007categories: Chico Buyers, Chico CA Real Estate Market Stats, Chico CA Real Estate News, My Opinion on Things
by guest writer Mike Wiegert, broker, Chico Homes
At this time of holiday cheer and good will towards men, I really feel the need to express my gratitude and thanks for the many blessings in my life.
First there is the love of a healthy family and friends. Next, I’m grateful for my own personal health and well being. I’m thankful that none of my sons are involved in an unnecessary war in a desperate land thousand of miles from home. I’m grateful that I live in a community like Chico, CA where a day never goes by without a hearty greeting from someone I’ve haven’t seen for a while. And I can’t forget to mention how thankful I am to be a Realtor in these times of prosperity and exceptional market conditions.
WHAT? WHOA! STOP! HALT! SCREECH!
What did that idiot just say? Is that the same market that we’ve heard about with desperate sales situations and real estate salespeople jumping off bridges or scurrying to find other skilled occupations. (Would you like fries with that?) Yes, that’s the market I’m talking about.
It’s all a matter of perspective.
We’ve all read horror stories sensationalized by our newspapers nationwide about the failing real estate market. We heard about how the bottom is falling out, and how families have lost tens and hundreds of thousands of dollars in equity in their homes. We know about foreclosures and short sales being on the rise.
Did you see, however, an article that stated that by Thanksgiving week, members of the Chico Multiple Listing Service had sold and closed $825,000,000 in real estate since January ONE?
That’s EIGHT HUNDRED AND A QUARTER MILLION, PEOPLE!
Gosh, that really sounds terrible to me. Did you also read that the highest sales volume in Chico MLS history was the record year of 2005 at a whopping $1,250,000,000? At the current rate, Chico CA Realtors are projected to sell $927,000,000 in Chico CA real estate or about 74 percent of the volume of sales of that highest, greatest real estate sales year of all time! Year 2007 is shaping up to be the third largest volume of sales in Chico Multiple Listing Service history.
I’m thankful that mortgage rates are staying at historical lows, often in the high fives to low sixes. At risk of sounding like your Grandpa, I remember selling (or trying to sell) real estate in Chico, CA in the eighties when interest rates were in the 18 to 20
percent range. The point is that interest rates are incredibly low, and it’s a fantastic time to buy. If you read my article last week about short sales, it was a shout out to all the buyers out there. We’re talkin’ OPPORTUNITIES, PEOPLE!
I’ll leave you with this thought: you can read all the sensational negative news available, but remember that our local market is strong, and it’s a great time to be involved.
Have you every heard anyone say, “I wish I hadn’t bought so much Chico CA real estate in my lifetime.” I didn’t think so. How about, “I wish I had bought MORE real estate!”
I rest my case.
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This is hot layout…very nice.
Happy Turkey Day!!
Good post Sandi. There are plenty of other good markets out there, but the media is not going to report on them. What sells is all the doom and gloom reporting about how dire this housing crisis is. More realtors need to put a positive spin on things, as you have for the Chico real estate market. Giving the readers the “real” real estate news is an invaluable service. - Karl
Sandi - It’s all a matter of perspective! Back in 1998, I wish I had bought more California real estate, whether Chico or some other city.
BTW - Thankfulness is also a matter of perspective!
Sandi,
Great post and it couldn’t come at a better time. There are local MLS organizations in a lot of states that are reporting record sales numbers; however, as has been said in other comments here, we will never hear the media report that! Bad news sells and travels fast and unfortunately a lot of what has happened in the real estate and mortgage industry has been fueled by the media. Two months ago I heard an “expert” from Stanford University’s economics department on national news state that if anyone was looking to buy a home now they should think again. He stated that IF they found a loan they would pay over 8% for a 30-year fixed. What a bafoon he was! JUMBO rates had climbed at the time to 8 to 8.5% but conforming 30-year fixed rated were still in the low 6’s. How many buyers that listened to the news hesitated on buying a home then? Many, many I would have to say. It’s good to see you putting out positive energy in your blogs and I love your website! You’re awesome!
Massari…
I Googled for something completely different, but found your page…and have to say thanks. nice read….
ann bancroft foundation…
Man i love reading your blog, interesting posts !…
You have an excellent attitude. Is that from living in Chico or is your blog just more popular than other Realtors netting you all the leads? Nice Job!
Thank you, Jim. As much as I try to have a good attitude, I have to say that my broker actually contributed this piece! Chico actually did an amazing job at changing my outlook when I moved here. The overall feeling is very casual, laid back, and friendly. While there is plenty of business out there to be had, people are generally great to work with, and not overly competitive. I feel lucky to be here!