This Newsletter is full of interesting and useful information that I think you will enjoy whether you are a buyer, seller, homeowner, or renter.
This month’s issue includes topics such as:
“Make Your Home Appealing to Buyers”;
“Know Your Expenses Before You Buy”;
“Home Equity Use No Longer Home Equity Abuse”;
“Get Out Of Debt”;
“Incentives for Going Green”;
Plus a roundup of February real estate activity as well as much more advice and information.
I hope you enjoy this monthly newsletter. If you have any comments, please e-mail them to me. Or, if you would like to see a certain topic covered in future months, let me know that too!
The sales details for the first month of 2010 are showing a slow down in Tracy’s real estate market, which is typical for this time of the year. Tracy’s inventory is still low; as of today we have 207 homes actively listed on the Multiple Listing Service for Tracy and surrounding country areas. The most important factor in purchasing a home is obtaining a loan. Government loans (FHA) are changing rules again; raising the amount of mortgage insurance premiums and raising the minimum down payment back up to 5% of the purchase price. On the other hand the tax credit is still available for qualified home buyers and California governor Arnold Schwarzenegger is about to pass another incentive for Californians; a $10,000 tax credit for new and resale home purchases. If it passes, it will become effective hopefully by the end of this month…. Continue reading
Real Estate Updates – Newsletter for January, 2010
Market conditions for 2009
Looking at the year end statistics for Tracy, including the surrounding country area, 2009 wasn’t a bad year for the local real estate market at all, considering the status of real estate market nationally.
Following are the statistics for the month of December, 2009:
- Actively listed properties: 208 – This slightly higher than it was in November (182)
- Homes with “Pending” status for the last week of December:25 – This is just a bit lower than it was for the same period in November (27) and mostly do to the holidays.
- Number of homes “Sold” in the month of December: 148 – This is a 25% increase compared to the previous month!!! (111) Huge increase! … . Maybe do to the $8,000 Home Buyers’ Tax credit extension? ….
- The Average Days on the market of the Sold Properties: 62 – This is an increase from the previous month (34)…almost doubled!
The charts below reflecting these numbers as well:
The statistical report for the year of 2009 is also showing some stabilization: it looks much better in comparison to the past few years. Inventory of available homes was much lower, barely enough to satisfy the huge demand. Sales prices are showing a slight improvement as well. An average, 59% of all homes sold in 2009, where actively marketed for less than 30 days.
- In 2009 the number of homes sold: 1958
- Average Sales price: $225,260
- Average days on the market before selling: 48
- Listing Price v. sales Price : 101% (homes were sold 1% higher than the asking price)
The average sales prices of Sold homes have increased slightly towards the end of 2009.
If you would like to have more detailed statistics or for other areas of the Central Valley real estate market, please feel free to call or email me – I would be glad to provide it for you.
A prosperous, happy, healthy New Year to you all!