Please click the link below to open my “September Real Estate Update”:
News You Can Use
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:
“Priced to Sell”;
“Most Homebuyers Have No Regrets”;
“Staging a Photo Ready Home”;
“Handling Neighborly Disputes”;
“Social Benefits of Housing”;
Plus a roundup of August 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!
News you can use: February Newsletter is here and it is, as always, full of useful tips and information that you can use.
Topics included in this month’s Newsletter:
- How to repair your home without damaging your wallet
- Exterior remodeling proves best bang for your buck
- Homebuyer tax credit boosts economy
- Understanding the buyers mindset
- View current mortgage rates
- January round up: mortgage rate trends
If you have any ideas or tips on topics for next month please share it with me; I would be glad to research it and publish it.
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
Did you ever wonder for how much homes in your neighborhood have actually sold for? You were probably asking your neighbors, but heard a different amount from each person you were talking to….
Here is your chance to check your knowledge about your neighborhood: I would like to know if you could guess how much this home has been sold for recently:
Address: 597 Whintey Court, Tracy Ca 95377
Listing price: $260,000, Short Sale
4 bedrooms, 2.5 baths, 2 story house with a 3 car garage,
built in 1999, features an inground, fenced-in swimming pool.
Sold date: January 20, 2010
Give it your best shot and send me your guess for this home’s SOLD price!…
Check out my November Newsletter; it contains many real estate related, useful information and good housekeeping tips. Please feel free to comment on the issues, or ask questions.
Tracy Real Estate market is waiting for the “shadow inventory “, a release of some of the already foreclosed homes. As of today, November 3rd, there are 189 active homes for sale in Tracy and surrounding areas. That is a combined number of REO”s, “normal” and short sale listings.
In Tracy and surrounding areas we have sold 139 homes in the Month of October. These sold homes were an average of 43 days on the market before selling. The average listing price was $236,718 and the average sales price was $243,393. As we see multiple offers on many of the homes listed, the offers coming in were over the asking price.
As most homes are selling for more than they were listed for, it seems that the appraisers have their hands full with appraising the homes for the value. This is mostly do to the fact that the appraisers’ evaluation is based on homes that have been sold recently in the same neighborhood. Many deals fell through because the value could not be justified by the recent sales on record. As a result, many buyers are asked to pay out of pocket to make up the difference.
Those buyers, who have been qualified for an FHA loan, have little chance to a fair shot to get an acceptance on their offer. Many buyers are coming in with cash at hand. Others are frustrated with this market and giving up on buying all together. In general, this is a buyers market, home prices are favorable, interest rates are still low, many people who are ready to buy homes…. but we don’t have enough homes to sell. Go figure.
Click here to see a daily interest rate lock advisory.
Real estate in Tracy is moving along; we have a shortage on available homes. Demand is high, many buyers need homes, not enough to choose from. Interest rates remain very low. We are seeing multiple offers on all reasonably priced homes. Home prices are slightly higher. This is a good indicator that we are in need for new listings.
Take a look at the statistics:
As of October 7, we have a 192 active listings.
From September 27th to October 3rd, the number of homes changed status to “Sale Pending” was 48.
Since October 1st we have 18 homes Sold in and around Tracy. See chart below.