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Redding CA - Redding Real Estate Market Report for October 2011, we are seeing some changes in the real estate market here in Redding, CA. In the last two months our inventory has been dropping. We are seeing a significant change in inventory. Redding Active Listings in 2010 for the Month of October was 765 and for October 2011 it is 427. This looks like a game changer. We are seeing a busy market on the lower end with multiple offers on well priced properties. This may be the beginning of a changing market trend from a Buyer's Market to a Seller's Market.
Here is a look at the Month of October.
Our numbers are show the biggest change in iventory over 2010 with 100 Sold, 765 Active and 99 Pending. Our prices continue to drop with a Per Square Foot Price in Q3 or 2009 at $134.62 to a Per Square Foot Price in the month of October, 2011 being $104.32.
With the Average sales price in Q3 or 2009 being $234,175 as compared to the month of October, 2011 we see a new Average sales price of $176,256. A loss in value of approximately 23%. We also see a variance of about 12% in List Price versus Sales Price, a trend common in a Buyer's Market.
Real Estate still remains an extremely viable and attractive investment market for long term investment. With the many tax advantages and means to defer taxes through 1031 Exchange, you continue to have a viable means to build generational wealth. Call today and we can talk about your goals and how you can establish generational wealth for the future.
I am Jeanean Gendron, and I have taken training and achieved designations to help you reach your goals. I hold CIAS (Certified Investor Agent Specialist) designation. It is my pleasure to be helping my clients achieve their real estate goals
An example of a typical goal and how it is achieved follows.
A newly married couple has started their family and have a new baby. They have a financial goal to invest for their baby's college fund. They purchase a Single Family Residential property that will be an attractive rental. It is a 3 bedroom, 2 bath home with a 2 car garage.
Investment Property Purchased at $95,000
$23,750 = $25% Down + $2,881 in Closing Cost and $5000 in Repairs
PI = $382, I = $27, T = $98, PITI = $509
Gross Operating Income (GOI) = $1045.00 with a vacancy rate of .05%
Net Operating Income (NOI) = $720
Cap Rate (Capitialzation Rate) = 9.09% or .0909
Debt Service Ratio (DSR) = 1.41 (should be greater than 1.2)
Cash Flow = Monthly $536, Yearly $6,432.00
Cash-on-Cash Return (CCR) = 20.3%
With a positive cash flow and not considering appreciation, the return on their investment over 18 years will net them $115,776.00. They have achieved their goal.
In addition, they have now begun to establish generational wealth and have a "cash flow" producing asset. Through the means of 1031 Exchange they now have a vehicle to continue to acquire properties and defer taxes. One additional benefit is that IRA savings can be moved into Self-Directed IRAs and used to purchase real estate.
Call today and learn more about investing in real estate.
I am Jeanean Gendron, your Redding and Shasta County Specialist.
You can reach me at 530 276-7417. I answer my phone.