Exciting growth on the Ridge portends optimistic home sales

By Aubrey Pruis Association Executive/CEO Paradise Association of Realtors

If you haven’t been out and about in Paradise and Magalia lately, there are a lot of exciting changes happening. New housing inventory is popping up consistently. Where there was an empty lot yesterday, today there is a new foundation going in for yet another new home build. Our builders are building, and homes are selling - despite the recent interest rate hikes.

Currently there are 48 homes under contract in pending status with 97 currently active listings** as of today per the California Regional Multiple Listing Service (CRMLS) market statistics. These numbers are showing that the buyers are out there. Buyers are easing into the idea that the current interest rates are not as bad as they first felt them to be. We were spoiled by low interest rates over the past few years, and currently are seeing rates reminiscent of 2018 and before.

over $115,000 in a revenue guarantee fund. To be competitive with other communities, we have a goal of $1.5 to $2 million. The city is pursuing additional grant and funding opportunities.

Please join us in our effort to grow and strengthen our air service incentive package through donating, pledging to donate, or pledging your organization’s commitment to the success of returning air service to Chico.

For more information and to contribute, visit helpchicofly.com or reach out to Airport Manager Tom Bahr, (530) 896-7216. Tom. bahr@chicoca.gov.

What’s in our future? Soon we will be seeing a new expanded walkable downtown on Almond Street, more parks, and the removal of abandoned signs! A new Paradise Community Center (formerly the Senior Center) is in the planning stages in partnership with Paradise Recreation and Park District. The initial plan’s renderings depict an attractive and adaptable space, awaiting only funds to commence construction.

Buyers are advised to keep eyes on the housing market, while not focusing on interest rates, which can lead to fear-based decisions, failure to purchase…and missing out on potential housing opportunities. Buyers should buy that house, if they find it and it fits into their budget, despite where current interest rates stand at an average of 6.96%* as of this writing. When the rates do eventually come down, simply refinance.