Market Trends -Tracy, California

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6-1-16

Real estate market trends for the Tracy, CA Triangle are great: buyers demand is strong, interest rates on home loans are not changing too much, but because of fairly low inventory of available homes, home sales prices are slowly on the rise.

By analyzing the statistical report for the month of May 2016 below, the conclusion is that we have a healthy, stable market here locally: Continue reading

February Market Trends in Tracy, CA

anrealestatenewsWith spring just around the corner in Tracy, Real Estate market is already at full speed. We have a seller’s market: low inventory, normal demand. Homes that are listed are selling close to the listing price. The following statistical report is based on and collected from the MLS (Multiple Listing Service) only. This report does not contain any ownership transfers from any other source. Continue reading

Tracy Real Estate Trend

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2015 was a good year for real estate. Home prices increased modestly in some areas, more sharply in others. Tracy real estate market was very good in 2015. Predictions in the real estate industry are that the year 2016 will be even better, although, interest rates on home loans are on the rise.

Speaking of loans: Lenders offering a wide variety of different loan programs. The best news for first time buyers is that FHA loan limits in San Joaquin County have been adjusted upward, which is what we have been waiting for a long time.
The following statistical data is for December 1st to December 31, 2015:
As of January 3rd, 2016, 141 homes are actively listed in the Tracy, Mountain House and in Tracy Rural areas.
In December 2015, 103 homes have been sold. The average SOLD price in December was $426,230 and these homes have been on the market for an average of 43 days.

Listing price versus Sales Price in December was 98% – a slight seasonal decrease in sales price.

Looking back, 2015 was an overall good year for Tracy/Mountain House real estate market: Between January 1st and December 31st, altogether 1401 homes were sold. The average sales price for the year 2015 was $414,463

To compare these to the year 2014: Homes sold: 1167. Average sales price in 2014: $380,217
That is an average, year-to-year increase of home values by 9.1%…can we repeat this in 2016 please? That would be awesome!  Wishing you all a peaceful, healthy, prosperous 2016!

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Data have been collected and interpreted from MetroList Multiple Listing Service.
About Eva Bradley:
My home town is Tracy, Ca. I am serving the Central Valley Region – Lathrop, Manteca, Patterson, Stockton and Modesto since 1999.
ZIP Codes: 95376, 95377, 95398
Approximate Location Boundaries: Tracy, Mountain House, Rural Tracy
Location Characteristics: Tracy is located in the Central Valley, California and 26 Miles East of the Dublin-Livermore-Pleasanton corridor. Most of Tracy population are commuting to the Silicon Valley to work. Tracy is proud of low crime rates and excellent schools. Summers are hot, winters are foggy. Tracy is doing a great job in attracting big companies to open new facilities, like Amazon and FedEx, giving the opportunity for residents to find higher paying jobs here locally.

For More Information:

About Eva Bradley:
My home town is Tracy, Ca. I am serving the Central Valley Region since 1999: Lathrop, Manteca, Patterson,Stockton and Modesto..

Down-Payment Dilemma: Less or More?

houseofmoney2You’d be a homeowner right now if it weren’t for one thing: the down payment. Right? Even for those who have decent credit and make good money, the down payment is often the great homeownership killer.

For many others, who do have enough money set aside to make a substantial down payment, the question is: how much? Conventional wisdom – not to mention most of the banks and a good portion of homebuying and financial experts – will tell you that 20 percent is the standard bearer when it comes to down payments. But is it really necessary to put 20 percent down?

The short answer is: no.

Now for the long answer. Continue reading

Gift As Down Payment Option

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Using Gift Money For Down Payments
To take advantage of low interest rates while home prices climb higher and higher, some homebuyers need help accumulating enough money for a down-payment. To satisfy secondary market loan package purchasers such as Fannie Mae and Freddie Mac and insurers like the Federal Housing Authority, lenders have strict rules about where down-payment money originates.

Lenders prefer that borrowers supply their own down-payment funds. It shows they have “skin in the game” and that they are good with money and can meet their financial goals. But thanks to the Great Recession and the slow road back to recovery, many homebuyers are turning to their parents, grandparents and other family or friends for help. Continue reading

Real Estate Trends – Tracy CA, June 2015

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Tracy home sales are at full speed with summer lurking just around the corner. Prices are climbing at a slow but steady pace. Inventory of available homes is still low, while interest rates on home loans are holding steady and in a low range. New home constructions are a good part of the market, new subdivisions are popping up on several different locations, offering a wide variety of homes in prices, sizes and elevations.

Continue reading