Eva Bradley's Blog

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.

Environmental Issues

It seems that we hear a lot about environmental concerns these days. Much of it is simply the result of a greater awareness than in the past. And even though there isn’t anything to be concerned with in most homes, there are still a number of potential home environmental issues that buyers should be aware of. When buying a home, these issues should be addressed by the NHD Report, (Natural Hazard Disclosure) if they apply.

• Water quality is probably the most common concern and the one most often tested for. Typically, a basic water quality test will check pH, water hardness, the presence of fluoride, sodium, iron and manganese, plus bacteria such as E-coli. Additionally, water may be tested for the presence of lead or arsenic.
• Lead based paint in homes built before 1978, may be present. Generally, if the lead based paint is in good condition, not cracking or peeling, it is not a hazard. If the condition is hazardous, the paint will either need to be removed or sealed in such a manner as to eliminate the hazard.
• Radon is another common environmental concern with the home is. Radon is a radioactive gas that comes from the natural decay of uranium in the soil. Pretty much all homes have some radon present; tests can determine if the level present is higher than what is considered safe. If the level is too high, a radon reduction system will need to be installed.
• Asbestos was used in many types of insulation and other building materials in older homes built more than 30 years ago. If the asbestos is releasing fibers into the air, it needs to be removed or repaired by a professional contractor specializing in asbestos cleanup. But, if the asbestos material is in good repair, and not releasing fibers, it poses no hazard and can be left alone.

If you are buying a property that was built more then 30 years ago, without a Realtor’s assistance, make sure the seller will provide you these disclosures to you.

This came just a minute ago from Cliff Cooler, the CEO of Central Valley Association of Realtors:

ADVANCE FEES FOR LOAN MODIFICATIONS NOW PROHIBITTED

“On October 11, 2009, Governor Schwarzenegger signed Senate Bill 94 (Calderon), and the legislation took effect immediately upon his signature. Thus, California law now prohibits any person, including real estate licenses and attorneys, from demanding or collecting an advance fee from a consumer for loan modification or mortgage loan forbearance services affecting 1 – 4 unit residential dwellings.”

Unfortunately, this came just a little too late for some homeowners, who already paid thousands of dollars modifying their loan, but it never got done…

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.

Please, ckeck out this monthly publication; it contains relevant information not only about mortgages and real estate in general, but good house keeping tips and other useful information as well. Please check out my October Newsletter.

If you have something in mind that could be included in the next month’s publication, please feel free to let me know about it.  I would be glad to insert it for you.

Once again, on September 10th of this year, Dennis Stewart with Realty World NCA gathered the agents who signed up for the prestiges Eagle course. The first week was all about getting used to each other and to Dennis’ rules.   Our assignments for the fourth week were to write an article about the Eagles. Instead of writing about the course, I decided that maybe it would be a good idea to introduce the group members individually as I see them.

 Meet the “Magnificent ourteen”:

Sue Langdon, she has to be the first not only because she is my broker, but also because Sue is one of the nicest people you can ever hope to meet.  Sue has her challenges to keep up with the ever evolving technology, but giving an extra effort to learn it.

Jennifer West: Jennifer is a very busy lady, her phone never stops ringing and she takes care of fifteen different things all at the same time, but you would never notice, because she always has a minute to listen to us. I don’t know how she does it…

Sharon Camilleri: Sharon always keeps a cool head and looking at things in a most logical way.

Susan Wilson: Susan never seems to run out of questions, which is a good thing, because that is how one can learn.

Debbie Rouhtier:  Although, Debbie’s challenge is to get up early in the morning, she almost always manages to come to the meetings on time.

Chiquita Redmond:  Chiquita looks, speaks and behaves as professional as one can be

Tony Sanchez: Tony has the most colorful personality; he makes jokes about everybody and everything

Sandy Frits: Sandy is the helping hand for Tony…..but she doesn’t seem to mind.  Sandy is always smiling, always friendly – great attitude.

Steve Davis: Steve is an admirable person with an admirable family…sends out emails to everybody.

Randy Elliott: Randy’s jokes and funny remarks are coming to him so naturally and easy, along with many good ideas.

Cameron Riegel: Cameron is the tallest man in the room, friendly and very professional.

Darryl Manson: the quite guy…Darryl knows more than what he makes us believe he does.

Yulanda Ong: she has a really nice personality. Yulanda brings goodies for everybody, which is very much appreciated  

Oh, and me, Eva Bradley: eager to apply all the new technology that Realty World provides, to differentiate us and helps us rise above all the other real estate companies.

Well, here we all are, learning to spread our wings, as young eagles do.  Hopefully, by the end of this course, we all will be soaring in the skies and looking at our business from a total different perspective.  We all owe a big thank you to Dennis Stewart and a big thanks to Realty World NCA to help us reach and supersede our performances as Realtors® and to provide the highest level of customer service our clients deserve.

Knitting as Stress-Therapy.…

I am not big on how to write posts, so I am just going to write about what first come to mind…. 

 When I go to Wal-Mart I always visit the fabric section to see if there are any newly arrived yarns, since my very favored hobby is knitting.   So, I checked the yarns and as I saw this beautiful, fall colored yarn, it was an instant inspiration: Hmmm…I could make a nice sweater for my grandson out of this!  This sort of thing happens to me all the time, ever since I got pregnant with my first child thirty six years ago. 

I am a knitting freak!   As soon as I see a ball of yarn that catches my eye, I can’t resist, have to have it.  I could talk about yarns and knitting for hours, it is my all time favored subject.    For me, knitting is the best stress relief therapy and, on top of that, I get the best ideas while knitting.  Especially this time of the year, when the weather is cooling off, and the foggy Tracy days and long, dark winter evening are just around the corner.  Like the squirrels stacking up on walnuts for the winter, I am stacking up on yarns to work with.  Nothing is gives me a better feeling like when, after I’m finished with the garment, which is more likely a sweater, a cap, or a jacket for one of my grand kids, and I give it to them, and their eyes lit up and they thank me for it with a big hug and next day my daughters tell me that the kid slept in it, wouldn’t want to take it off, not even for the night! It lets me forget all my troubles and puts a smile on my face!   

 Please, do not take this as bragging, but I have to share this story with you:  We have a group of Realtors in Tracy, who are involved in the Brighter Christmas Fundraiser event to raise money for the less fortunate.  I am a member of this group for the past six years.  I never was in a position to be able to contribute money, but instead, I knitted a sweater every year that was auctioned off on these events.  Every year, repeatedly, the same person was able to secure my knitted sweaters for his niece.  Before the fundraising event, he used to approach me and wanted to make sure that I will make a sweater again this year.   And when I asked why, he told me that his niece just can’t wait to wear those beautiful sweaters that no one else has.  It gave me such a nice feeling to know that my creations are being so much appreciated.

So far, the christening outfit for my grand daughter was the most labor extensive piece I have ever knitted: it took me 2 full years to make it.  As you can see it on this picture above, it was worth it: a lot of stitches, many, many hours….but it turned out so beautiful….:)

Eva Bradley