Moving Chico Blog

If you've been keeping an eye on the Chico real estate market, you've probably noticed how home affordability has become one of the biggest challenges for local buyers. Let's take an honest—and practical—look at what it really takes to buy a home in Chico in 2025, and what could be on the horizon for 2026.

As we close out 2024, we want to take a moment to reflect on the year and share what’s ahead for 2025. I think we can all agree, this past year was a challenging one for our industry. The political and economic landscape presented constant hurdles, with interest rates reaching a level of volatility we've never experienced before. Additionally, the National Association of Realtors settled a significant lawsuit that has brought dramatic changes to how we conduct business. One major shift requires buyers to sign a broker compensation agreement before viewing a home, a change that hasn’t been well-received by most home shoppers. Another key change is that sellers can no longer offer buyer broker compensation on the MLS. Fortunately, we’ve found that level-headed sellers are still willing to negotiate paying buyer brokers as part of the transaction.

If you've been following the news or scrolling online, you may have come across some recent updates in the real estate industry, specifically changes around buyer representation and broker compensation. These new regulations are designed to bring more transparency and clarity to the home-buying process.

For those buyers that have felt sidelined by the competition in the market, you are in for a treat! Inventory levels are finally rising and the frenzied bidding war climate we have been operating in has cooled to a sane level! I have actually written offers these last couple of weeks where there was NO competition, and we had price negotiations as opposed to auction-like bidding! This, of course, is not great news for sellers. We certainly aren't in a buyer's market, but it is a less competitive market, and it is becoming increasingly important for sellers to be realistic in pricing their homes.

Happy New Year! The California Association of Realtors (C.A.R.) chief Economist publishes his annual housing market recap and market forecast every October. As a Realtor with a degree in economics, I eagerly await it being published. . Seriously, It's like Christmas! For those of you who will be bored after a couple of sentences, I will get right to the meat of it! Here is what we can expect in 2022:

Are you thinking about prepping your home to sale but do not know where to begin? Here is a step-by-step list to help you get ready! Even if you’re not planning on selling immediately we would be happy to schedule a No-cost consultation!

Chico Realtors have been lamenting about our lack of inventory for years, but 2020 took it to record lows. On average, there were only 150 single family homes listed in Chico, a 30% drop from 2019. I have stats going back as far 2008 when there were over 500 homes on the market. The number of available homes has dropped every year since 2008 bringing us to our new record low. In fact, as I am typing this today, there are only 71 single family homes for sale in Chico! It probably goes without saying

We’ve all heard it, “buy low and sell high”. Sure, that’s the goal, but isn’t it impossible to both at the same time? Isn’t it EITHER a buyer’s market OR a seller's market, but never both at the same time? In 20 years of investing in and selling real estate, I believe that now more than ever, you CAN buy low and sell high! With an average sales price of $465,000 or $262 per foot, Chico homes prices are at a historic high. Meanwhile, interest rates are at 2.89%, a historic low! If ever there was a time to “step-up”, this is! You can “cash-out” the equity in your home and step up to your dream home ...

As technology advances and we are ever more conscious of energy efficiency, solar companies seem to be multiplying. I think most people have received a knock on their door and opened it to find a sales person trying to sell them a lease or power purchase agreement or solar panels to own outright…..but which is the right option for you? While I am certainly no solar expert (though I admit to listening to 4 different solar pitches), I will share some basic knowledge...

The word “essential” seems to have all new meaning for many of us these days…..essential businesses, essential care, essential for life. On April 28^th, Realtors received notice that we had been deemed an “essential service”. I have to admit, it made me pause and consider whether that was an accurate determination in these unsettled and uncertain times, but here is what I know: clients have reached out to us in need to buy or sell real estate. If they do not purchase a home in the next 60 days, they will literally be homeless. If they do not sell...