Buyers Beware

If there was ever a reason to use the time-tested phrase of Buyers Beware, this is it.

This type of thing has been going on for a long time, and not just in the real estate market of the Lake Oroville area. Just think how much money these type of companies are coaxing out of unsuspecting new homeowners. If they only get a 10% participation rate they would be raking in millions of dollars. Don’t fall for it folks.

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Millennials will help boost home prices in 2015

• Millennials will help boost home prices. For the past decade, Baby Boomers have made up the largest segment of the U.S. population. However, Millennials—those aged 18 to 34—are about to fill those shoes. The U.S. Census Bureau reported the presence of 73 million Millennials in the U.S., making it the largest generation in three decades. Fortune noted that this generation may look to purchase homes and begin their own families in the coming year.

Jonathan Smoke, chief economist at, says that in the next five years, Millennials will be responsible for two-thirds of all new households, and he believes that 2015 will be the year that this generation’s presence will impact the housing market.

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Sold in Oroville this week

You know, many of my friends and past clients have no plans to move in the near future. Still, some wonder what their homes would sell for in today’s market. It’s like owning any kind of investment. You don’t necessarily want to part with it, but you still want to know what it’s worth!

Click on the “Home Valuation” tab above…..

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It’s Deja Vu All Over Again!!

Welcome to Deja Vu all over again for the national real estate market!!

Do you think that this industry will ever learn why the real estate market fell nearly into oblivion over the past 6 years? I don’t.  Here is the web page from CNBC that discusses the new lower down payment for first time home buyers  program aimed at “helping” first time home buyers to get a loan with nearly nothing down.  As a 20 year veteran of the Lake Oroville real estate market I am disappointed to see that the government thinks that the best medicine for the long term stability of the housing market is LOWER  down payments. What is even more disappointing will be when the lenders start showing up in real estate offices across this country touting these new programs as “great deals for buyers.”  And just think how many more homes all you agents will sell with this new program!

Will there never be an end to the perception that buyer’s are so irresponsible and undisciplined that they are inept about saving money for a down payment. ( And by the way, if you are not disciplined or responsible enough to take the time to save up a down payment, you may not be ready for home ownership).  The trend here should be that there be a gradual INCREASE  in down payment requirements not a decrease.  This will make the market much more stable when the next down turn occurs and  will keep the bottom from completely falling out again.

The post It’s Deja Vu All Over Again!! appeared first on Mark Wisterman’s Oroville, Chico & Paradise Real Estate Blog.