About Humboldt County, CA

Home buyers have a golden opportunity to potentially receive as much as $18,000 in state and federal income tax credits. Please note there are separate tax credits and separate criteria for both.

The state of California has set aside $100 million in bonds to stimulate the purchase of brand new never lived in homes. Buyers can receive up to a $10,000 state tax credit, with the main criteria is that the home is brand new, it must be owner occupied, and you must live in the home for two years. You do not have to pay any portion of the tax credit back. You do not have to be a first time buyer either. This allocation of funds is only available on a first come first served basis and when the money is gone, so will the tax credit. For more info visit the Franchise Tax Board website: www.ftb.ca.gov

The federal government as part of the stimulus package is an $8000 tax credit, however unlike the state credit, the federal credit applies to first time buyers only and is available on homes purchased between January 1, 2009 before December 1, 2009. Single taxpayers with income up to $75,000 and married couples with incomes up to $150,000 qualify for the full tax credit. The home does not need to be brand new to qualify for the federal tax credit. A resource is www.federalhousingtaxcredit.com for more information.

Hypothetically, if you are a first time buyer purchasing a brand new home who makes at or below the qualifying income could take as much as $18,000 in state and federal tax credits. This, along with low interest rates, is a terrific incentive to be in the housing market.

It is always a good idea to get tax advice prior to making a purchase.

In our Humboldt Couty Real Estate market, the big discussion these days is the economy of course. And when it comes to Humboldt County Real Estate most people want to know how bad our market is? ie: How many foreclosures and short sales are selling compared to retail homes by sellers who have a reason to move.

I'll admit now. I don't have a crystal ball and the number of foreclosures and short sales may rise or fall this next year. All I know is what I see today. And today, out of the 590 homes currently selling in our Humboldt County Real Estate market, only 20 of those homes are Bank Owned Properties (Homes that the have already foreclosed and have been taken over by the bank to sell back to the public) and 26 are Short Sales (sellers who owe more to the bank than their home is currently worth in this market). That means 7.8% of the homes currently for sale fall into this category. The rest are regular Humboldt residential home sales.

Compare that to Stockton or Sacramento where majority of their market is driven by short sales and foreclosures.

Our Humboldt County Real Estate market has not come to a screeching hault either. 66 homes sold in January 2009. Not to shabby. Especially when our inventory isn't going through the roof, comparatively speaking. And the median home price (because I think averages are worthless to track home values, especially when a $1 million dollar property can throw everything off) is currently $270,000 throughout Humboldt County CA.

This doesn't mean however that the median sales price is $270,000 for homes sold in Arcata CA. Each local market is a bit different. Arcata CA for example is a stronger market that has a higher median sales price than Eureka CA does. The average or median home in Arcata CA sells for approximately $30,000 more than homes in Eureka CA.

For Humboldt County Real Estate Sellers this is good news. Because you are not competing with an overwhelming number of short sales and foreclosures that usually sell for less than fair market value. And if you have a home that is "market ready", meaning your home has great curb appeal (immaculate front and back yard) is clean, clutter free, smells nice and is in move in condition inside, and is priced appropriately to compete with the other homes on the market - (usually slightly below your competition), you have a much highter chance of selling your home for a good fair price in a reasonable amount of time.

If you're thinking about selling your home and you want to know how your home compares to the current competition I'm more than happy to chat with you about it.

Information courtesy of the Humboldt Association of Realtors MLS. Information is deemed reliable, but not guaranteed.

Copyright 2009. Jessica Bigger. All Rights Reserved *Humboldt Real Estate Market Has One of the Lowest Foreclosure and Short Sale Rates in California*

Good morning everyone and I hope you had a wonderful weekend, are you are excited about making money this week?

I am back to pushing one of my favorite places in the (World), Northern California. I have been visiting Northern California since the early 70s and please don't remind me how old I may be.

My wife and I have planed a trip in 2009 to go up to Lake Tahoe, the Redwoods and along the Coast of Northern California. Last year we went and looked at some property with (Jessica Bigger) and will be doing it again this year.

Jessica sells property in one of the most beautiful places in the world, and if you don't believe me go take a look for yourself. I would like to get licensed in the State of California some day in the future and sell Real Estate with Jessica on a team. I would also keep my license in Las Vegas and still go by the name of (Vegas Bob).

The photograph above was taken very close to Big Sur on the California Coast and the photo below was take in the Redwoods in Northern California. Very close to where my Friend and AR member Jessica lives.

If you are ever on vacation in Northern California close to Eureka/ Fortuna please give Jessica a call. She is one of the sweetest most down to earth people you will ever meet, and tell her (Vegas Bob) sent you!

Jessica's contact information - Mention to her (Vegas Bob) sent you!

Jessica Bigger~Eureka CA Historic & Luxury Homes
Eureka , CA
More about me...
RE/MAX Humboldt Realty

Address: 2222 Myrtle Avenue, Eureka, CA, 95501

Office Phone: (707) 269-2336
Email Me

photographs above taken in California by: Robert Swetz and duplicating in any form is in violation of copyright infringement and subject to fines.

Please look at my new web site on photography www.SearchMyPics.com

Real Estate www.VegasBuildingsForSale.com

Real Estate www.LakeOwner.com

Today I left my brokerage for another. I left on my terms and I’ve moved over to RE/MAX Humboldt Realty. For several months I thought long and hard about the move, but now the time has come for a change.

I’ve seen lots of change through these Humboldt Real Estate eyes in last couple of years. I got into the business when the real estate market started to go south. Prices didn’t plummet in Humboldt like they did in other parts of California, but it was a noticeable drop in sales price and volume.

When I first got my license and signed up with Ming Tree GMAC there were well over 450 agents working in Humboldt, that has a population of no more than 130,000 people. Now I’ve seen the number drop to less than 340. More than 100 people left the business. Not a bad thing.

I’ve watched brokerages pair down their advertising, let agents go and I’ve watched several agents in my former company make a similar decision to move or start their own brokerage.

Now’s the time to continue building our businesses, learning to improve our communication skills, getting better at listing presentations, marketing offline as well as online. It’s time to get out there face to face with potential buyers and sellers who need our assistance. And sometimes a change is good, along with a positive attitude to succeed. Business may not be booming but it’s moving and I’m doing just fine.

So the newbie agent at Ming Tree GMAC chapter has come to a close and the more experienced full time agent ready to serve is starting a new beginning. I’m excited about the opportunities I’m moving into with this new brokerage. They’ve offered me lots of opportunities and support to help me continue to build my business. I will however always be grateful to Ming Tree for the opportunity to learn and grow into the great Humboldt Real Estate agent I’ve become.

But now it’s time to look forward and not behind. So here’s to a new beginning and great successes for you and for me.

Copyright 2009 Jessica Bigger. All Rights Reserved. *As One Door Closes, Another One Opens – A New Beginning in Real Estate*

February 3, 2009 – I read where there is discussion in the new administration about reducing interest rates on home mortgages to 4%. The theory is that would help stimulate sales and put the brakes on sliding home prices, as well as give a shot in the arm to the economy. As a Realtor my first instinct is to say that is a great idea. It seems logical, and I would support a program that is beneficial to my livelihood and to the community.

However after thinking about it, I’m not so sure that would have the intended effect. After all rates have been in the high 4’s and low 5’s for some time now, and even if you reduced the rate to 3%, if its harder to qualify (which it is) with fewer financing options available, and people feel insecure about their jobs, and their stock and retirement portfolio’s shrinking, will lowering the rate help? The Bank of England recently lowered its prime rate to the lowest amount since 1694….really. The economy in the UK is in a free fall despite the government intervention of banks there, along the lines of what the US has done.

It’s also my belief that as long as the stock market continues to drop, so will the confidence in the economy. Unfortunately the business of stocks and the business of real estate share the same economic bed to some degree. The bottom line is despite having the so called best and brightest minds looking at the economic problems, the government is still throwing darts at the dart board as far as what to do about the economy.

One thing that I hear very little about – despite lowering of rates, I read that 60% of applicant’s who are looking to refinance their homes, can’t qualify due to not having enough equity in their homes. Lenders want to see at least 20% equity and that is not possible for many Americans. I would like to see these homeowners, assuming they have good credit and payment record, be able to successfully refinance despite their equity position. The government talks a great deal about wanting to reduce foreclosures and keep people in their homes, and that seems like an easy way to do it. Billions of taxpayer dollars have been given to banks that have been hoarding the cash instead of putting it back out there. I know people with good payment and credit history who would love to refinance to lower their payment but can’t because of restrictive rules. Let’s see that changed immediately.

I did not want to vent and write something without offering at least a partial solution that would help many existing homeowners keep their homes. Thank you for reading my blog entry.