Real Estate Information Archive


Displaying blog entries 1-10 of 12

People listen When Buffett's Speaks

by The Barringer Team

Buffett: 'Buy a house now'… Housing getting cheaper (more attractive)… Sjug pounds the table… France's limit on achievement… Wyoming plans for the End of America…

 "Single-family homes are really cheap now, too," Warren Buffett said yesterday in a CNBC appearance. The other cheap asset class he previously referred to was equities. Buffett said he would personally buy "a couple hundred thousand" homes if it were practical. And if you hold houses for the long term and purchased at today's low rates, he says housing is even better than stocks. Buffett advises taking out a 30-year mortgage and refinancing if rates go down.

 Buffett is bullish on housing even after saying he was "dead wrong" about a housing recovery occurring last year. From his annual letter…


Last year, I told you that "a housing recovery will probably begin within a year or so." I was dead wrong. We have five businesses whose results are significantly influenced by housing activity. The connection is direct at Clayton Homes, which is the largest producer of homes in the country, accounting for about 7% of those constructed during 2011.




Additionally, Acme Brick, Shaw (carpet), Johns Manville (insulation) and MiTek (building products, primarily connector plates used in roofing) are all materially affected by construction activity. In aggregate, our five housing-related companies had pre-tax profits of $513 million in 2011. That's similar to 2010 but down from $1.8 billion in 2006.




Housing will come back – you can be sure of that. Over time, the number of housing units necessarily matches the number of households (after allowing for a normal level of vacancies). For a period of years prior to 2008, however, America added more housing units than households. Inevitably, we ended up with far too many units and the bubble popped with a violence that shook the entire economy. That created still another problem for housing: Early in a recession, household formations slow, and in 2009 the decrease was dramatic.




That devastating supply/demand equation is now reversed: Every day we are creating more households than housing units.


The latest data from the Standard & Poor's/Case-Shiller home-price index (the bellwether) shows housing prices are still falling… Home prices fell 0.5% in December – the fourth down month in a row. On a year-over-year basis, home prices fell 3.99%, worse than the 3.65% expected. Of the 20 cities tracked in the index, only Detroit showed a year-over-year gain. Meanwhile, prices in Atlanta, Las Vegas, Seattle, and Tampa dropped to their lowest point since the housing crisis began. Overall, home prices have fallen 34% since the crisis, down to 2002 levels.

 While prices are still falling, sales are increasing. The index measuring pending home sales increased 2% in January, besting expectations and pushing the index to its highest point since April 2010, according to the National Association of Realtors.

 And yes… despite falling prices, Steve Sjuggerud is every bit as bullish on housing as Warren Buffett. Steve wrote a February 21 DailyWealth
essay called "This Is the Moment I Live For as an Investor." Steve's been excited about housing for months. He told readers, "I'm more convinced of what I'm saying here than I have been about any other investment in my two decades of studying investments." He continues…


The basic story is that housing is an incredible value right this moment: With mortgage rates at record lows TODAY (at 3.87%) and with a record "bust" in home prices, housing is more affordable than ever. PLUS, we're at the "puke" point – where banks are giving up properties at any price, just to get rid of 'em. PLUS, the government is getting in on the act, trying to help.


In addition to his DailyWealth writings, Steve incorporated his housing commentary in the most recent issue of his flagship advisory, True Wealth. Steve launched True Wealth based on his belief that subscribers can make big returns without taking big risks. Recently, Steve released a series of reports on investments that can give you incredible gains… but come with virtually no risk of going down. Click here for the details.


F.H.A. 203 K Rehab Loan

by The Barringer Team

Many people either own a house that needs fixing up, or are thinking about purchasing a home which is affordable largely because it needs extensive repairs. Home repairs can be quite costly, however, and may not be affordable for those with less than ample budgets. There are also instances where the ability to pay back a loan on a house is not an issue, but a lender will still not allow a purchase for a variety of other reasons. This is where a 203k rehab loan can be the key to allowing you to own the home you have always dreamed of owning.

203k loans are government-based loans offered in situations where an investment would be considered high risk by the lender. The FHA's 203k rehab loan was created to provide homeowners with the resources to allow them to turn a damaged property into a livable home. From simple repairs to more drastic overhauls of a home, these loans are arguably the most reliable means of turning a questionable home into a sound investment, not to mention a sound dwelling. Generally, 203k loans are used to service homes in need of slight repairs, but they can be used for more involved improvements, and they cover the use of licensed contractors in the event that the loan borrower cannot complete the project without help.

The 203k rehab loans permit a wide variety of repairs to the home and surrounding area, but there are notable exceptions. Some of the repairs and work not permitted by these loans include landscaping and yard work, major remodeling, or fixing structural damage. It generally allows for more subtle repairs such as painting, addition or removal or doors, minor repairs or enhancements to kitchens or bathrooms, plumbing and electrical work and flooring, among many others. There are special terms and requirements that also come with each loan, including:

  • The property must be the borrower’s own
  • Work needs to be professional, and completed in a six month time frame
  • The property must not be vacated for more than a month
  • Depending on the situation, the borrower must possess a permit for the work done if one is required.

Despite some of the terms and limitations set forth by the loan, it is arguably the most helpful method for getting the necessary work done. I can testify to this program because we did one with my son and it is very good 1 of the drawbacks is waiting for the contractor to sign off on the projects because you are forced to wait for the FHA certified project manager to sign off so you can draw more money for the next stage. Call or email we will be happy to share what we know about this program. 209-833-7777 or ask for Bill. 



Back On The Market

by The Barringer Team

This listing just came back on the Market last night. It is super clean and is perfect for the 1st time buyer or investor it is turnkey you can move in right away or rent out. Rent would be 850 to 1,000 a month. Hurry this one will go quick. Not a short sale!


Image Unavailable
3786 Steve Lillie Cir
Price: $119,000 Beds: 4 Baths: 2 Sq Ft: 1475
Here is the perfect starter home or great investment. With 4 bedrooms and large yard just right for any family. Single story with formal living room and Hardwood flooring in dining and hall. Don't miss the back yard with large shed for storage and k...

With Highest Regards,

Bill Barringer

Team Leader

The Barringer Team, Century 21 M&M and Associates 

 #1 Century 21 Company in the WORLD. SMARTER. BOLDER.FASTER.

FREE automated reported Home Reports:
Thinking of buying? click here 
What's your home worth? click here
Avoid foreclosure. click here 

Biting The Bullet-Short Sales

by The Barringer Team

Biting The Bullet-Short Sales

You know what? Honestly, I really hate short sales. Since they sort of arrived on the scene around here they’ve been a massive pain in the posterior if you ask me. I’m not alone in that estimation either. A short sale (a oximoron if ever there was one) occurs when a homeowner who owes more on his/her loans (and often loans) and puts their home on the market attempting to persuade their lender(s) into forgiving some of their debt to allow the place to be sold. In the past 5 years or so it’s sort of appeared to me that lenders seem to want to torture buyers and agents who are attempting to actually buy one of these places.

Buying a short sale is not for the faint of heart…and certainly not for somebody in a hurry either! They take forever and often it takes months just to get a lender to look at the file. One agent I know spent months just trying to get a return phone call from the relevant person inside a bank holding a loan. I’m not talking about actually negotiating the short sale, months just getting somebody to make an initial contact with a decision maker. Another agent I know was told any offers on a short sale with one particular lender had to be faxed (and faxed only!) to one particular fax machine…that was always busy. Busy at 2:00AM, Busy for 3 weeks straight. If you’re looking for personal growth in the area of patience, try negotiating a short sale. It’s a land where most rules of common sense get redefined.

Historically, short sales are those listings you see that have been on the market forever. the ones with the 3 digit days on market numbers. Not in 2012 though! In yet another sign of the turning of the real estate market so far this year, short sales are not only ratifying early in their listing life…they’re getting multiple offers! You really have no idea how amazing that is to me! Multiple offers on a short sale? Unheard of! The irony is that, now, people are waiting in line…to wait in line again! We’ll now compete for the opportunity to wait for the lenders to take 4 months to look at the file.

I don’t know…I hear that they’re actually getting better at this. I hope that’s true! Keep an eye on the escrows of these short sales. It’s going to be interesting to see how long they take to matriculate in 2012. You have to be trained like we are to work these Short Sales because there are allot of agents who do not know what they are doing so you have to be on the look out when placing an offer on a Short Sale for a client because you don't want to be involved with an agent who is not a CDPE " A Certified Distressed Property Expert" The Barringer Team is a certified CDPE.


Getting A Loan Today

by The Barringer Team

A comment from a couple of days ago brought to mind a topic that I hear all the time. The difficulty of getting a loan in this current lending environment. I hear people all the time making the assumption that buyers can’t get loans and thus the real estate market is slow. It’s a patent excuse for some folks as to why things have been slow. “Well, nobody will lend!” is the refrain. I have to say, that’s not been my experience. Particularly in the last couple of years. I don’t really think there’s a problem getting a loan…if you’re qualified that is.

During the boom (bubble…whatever you want to call it) anybody who could fog a mirror could get a loan. Folks got loans who didn’t have jobs! Folks simply lied and stated FALSE income and got loans. Guess what? Those days are over. You have to be qualified to get a loan. Big surprise, right?  Even folks using FHA backed loans who have 3.5% down are qualified too. You can buy a home now…if you’re qualified. I know lots of lenders who are anxious to meet you and help you get a loan.

If you don’t have a job and you owe hundreds of thousands of dollars you probably can’t get a loan. For the rest of you, I’ll bet you can. Even with as little as 3.5% down. Our Lenders are the Best and very Honest just call or e-mail we will get you hooked up.

Stats For Tracy California and Mt.House California

by The Barringer Team

The following information is from the local MLS database, as of February 1, 2012 and is compared to (January 1, 2012).  The market here is still dominated by short sales and REO's. The short sales that have accepted offers show as Active Short Cont.  This means that they are only accepting back up offers and are contingent on lender approval of the short sale.  It is miss leading to the consumer as it looks like that there are more homes available than there really is.  We have broken that down for you in our stats now.  There are much fewer homes available to show that even the short sales are getting multiple offers. We have seen a handful of equity sellers and many "Flips". Interest rates remain low with 30 yr fixed at 3.99% and 15 year a 3.25%. 
This is a healthy market now. There is a definite lack of good homes for sale. This is because there are many buyers grabbing them as they come out. Just call or e-mail for an hassle free appointment or to just talk about the market anytime. 1-800-894-7282 or


Tracy, CA


Total # of residential properties for sale in the city of Tracy: 122 (288)

# of REO (foreclosures): 14 (25)

# of Short Sales: 65 (243)

# of Short Contingent: 162

Average # of days on market: 89 (89)

The median price of all homes for sale in Tracy: $228,350($229,900)

The average price of all homes for sale in Tracy: $229,367 ($232,128)

Lowest priced home: 2bd/810sq. ft. /$65,000

Highest priced home: 7bd/4427sq. ft. /$649,000


Number of properties currently under agreement: 230 (198)

# of REO: 51 (36)

# of Short Sales: 122 (110)

Average pending price: $226,301 ($225,320)

Median pending price: $225,865 (229,950)

 SOLD Status

Residential property sold over previous 30 days: 73 homes (97)

REO’s sold in the last month: 20 (19)

Short sales sold in the last month: 27 (42)

Average sale price: $223,838 ($233,836)

Median sale price: $215,0000 ($230,000)

High: 435K (5bd/3767sq. ft. home)

Low: 70,000 (2bd/998 sq. ft. home)



Mountain House, CA

 ACTIVE Status

Total # of residential properties for sale in the city of Mountain House: 37 (83)

# of REO (foreclosures): 3 (3)

# of Short Sales: 16 (60)

# of Short Contingent: 39

Average # of days on market: 93 (88)

The median price of all homes for sale in Mountain House: $292,450 ($299,900)

The average price of all homes for sale in Mountain House: $292,450 ($285,386)

Lowest priced home: 2bd/1,262 sq. ft. /$115,000

Highest priced home: 6bd/3900 sq. ft. /$449,000


Number of properties currently under agreement: 70 (50)

# of REO: 6 (5)

# of Short Sales: 44 (32)

Median pending price: $265,276 ($293,963)

 Average pending price: 264,099 (285,154)

 SOLD Status

Residential property sold over previous 30 days: 19 homes  (30 homes)

REO’s sold in the last month: 4 (10)

Short sales sold in the last month: 8 (11)

Average sale price: $317,571 ($289,9487)

Median sale price: $336,000($280,000)

High: 400,000 (5bd/3949sq. ft. homes

Low: $154,000(3bd/1460 sq. ft. home)

Priced Reduced For Quick Sale

by The Barringer Team


Image Unavailable
1452 Whittingham Dr
Price: $229,000 Beds: 4 Baths: 3 Sq Ft: 2223
Here is a house that is just right for a large family. With formal living and dining and great bonus room off of entry. The family room is built for entertaining and the large kitchen great for the busy chef. Outside is a wonderful pool with spa and...


Make More On Your Deposits

by The Barringer Team

Are you tired of earning less than 1/% interest on your bank CD or deposits? Or are you tired of the
volatile and erratic stock market? Real inflation is over 3% so receiving 1% or less on an interest
rate from a bank is only slightly better than hiding the money under the mattress.

This article will explain how you can redeploy your cash from bank deposits to buying single family
rental homes in an all cash transaction or utilizing an existing IRA into a self directed IRA in real
estate (single family rental homes). The cash return on at $135,000 investment would be between
6-8% annually. These home prices are generally need to be under $300,000 to make this model
work. Therefore houses should be in areas like Colton, (Inland Empire) or Stanton (lower priced end
of Orange County). Condo’s would likely be excluded due to their $300-$400 monthly association

Self Directed IRA or 401K Retirement Plans
Many of us have an IRA, 401K, Simple Plan retirement plans floundering in the stock market.
Mutual Funds, bank brokerage companies such as Merrill Lynch do not want you to roll these
existing plans into self directed purchases of single family rental homes as they are not capable of
managing or administering real estate investments. If the roll over is properly handled there is no tax
ramifications. Accredited Management Organizations (AMO) like JD Property Management, Inc. can
handle the rental, rent collections, maintenance, bill paying and supply you with a monthly income
statement and year end statement for your taxes and Plan Administrator.

Prohibited IRA Transactions

  • Cannot convert existing property into self directed IRA’s
  • No Collectibles (artwork, rugs, stamps)
  • You may not personally guarantee payment of loan on these properties
  • Any debt financing is subject to Unrelated Business Taxable Income (UBTI)
  • Cost must not exceed Fair Market Value
  • Owner or Family members cannot collect rents or pay expenses (need unrelated property
  • management co.)

26 BMortgage Settlement: Good for Banks Not So Good For Homeowners

by The Barringer Team

After months of wrangling, the long-awaited foreclosure settlement between the government and the banks appears to be at hand.

A $26 billion settlement was announced Thursday morning between the federal government, state attorneys general and the five biggest banks in the mortgage market: Ally Financial (the old GMAC), Bank of America, Wells Fargo, JP Morgan and Citigroup. (Editor's note: An earlier version incorrectly identified Ally Financial as being the old GE Capital.)

The settlement is being hailed as the biggest multi-state settlement since the 1998 tobacco agreement. But as Henry and I note in the accompanying video, the settlement is too small to really help the housing market, or even do much for individual victims of fraud and abuse. The deal may, in fact, hurt housing by sending a message to people who've stayed current on their mortgages that irresponsible behavior is what gets rewarded in America. That, presumably, is not the intention of policymakers but the "moral hazard" fallout from the settlement. More Americans may "walk away" from uneconomic loans, which will put additional pressure on local housing markets.

Furthermore, several experts note that for all the rhetoric about punishing corporate crimes and helping victims of abuse, the banks have once again gotten away with a slap on the wrist and may end up benefiting most of all from the settlement.

According to The Wall Street Journal, the settlement will be broken down as follows:

$5 billion in cash payments, including $1.5 billion to borrowers who were wrongly or illegally foreclosed on between September 2008 and December 2011. Borrowers could receive up to $2,000, depending on the number filing claims.

$20 billion in "credits" the banks will receive for principal write-downs and other aid to homeowners at risk of default, up to $20,000 per. This tally includes $3 billion for refinancing of mortgages currently under water.

(Yes, I know 20 + 5 = 25, not 26. It's unclear what the "extra" $1 billion will be earmarked for as details are still emerging on the plan.)

A Drop in the Bucket

Now, $26 billion is a lot of money but it's a drop in the bucket compared with the trillions of dollars of household wealth that's been lost since the bursting of the credit bubble in 2008. Furthermore, $2,000 is a small price to pay to homeowners who lost their homes in illegal foreclosures. The $20,000 mortgage modification is great, except the average deficit for underwater mortgages in America is $50,000.

In addition, the $20 billion isn't coming out of the banks' pockets; it's coming from investors and, ultimately, taxpayers.

"The mortgage principal write-downs are guaranteed to come almost entirely from securitized loans, which means from investors, which in turn means taxpayers via Fannie and Freddie, pension funds, insurers, and 401 (k)s," writes Yves Smith at Naked Capitalism. "That $20 billion actually makes bank second liens sounder, so this deal is a stealth bailout that strengthens bank balance sheets at the expense of the broader public." (See: Obama's Refi Plan Is Another Bank Bailout, Stockman Says: "The Worst Kind of Crony Socialism")

Meanwhile, several Fed watchers believe the central bank is gearing up for another round of quantitative easing that will focus on (wait for it) mortgage-backed securities. If QE3 is focused on MBS, it will further ease pressure on bank balance sheets and make any hit from modifications easier to digest.

Every state AG, with the exception of Oklahoma, has reportedly agreed to the settlement. One housing expert speculates key holdouts such as New York Eric Schneiderman and California's Kamala Harris agreed to the settlement in return for promises that the banks aren't being completely left off the hook.

During the State of the Union address last month, President Obama called for a new financial crimes unit to pursue mortgage-related fraud.

Not coincidentally, the SEC is now reportedly stepping up its investigations of illegal marketing and selling of mortgage-backed securities during the boom. The Journal reports Ally, Bank of America, Citigroup, Goldman Sachs and Deutsche Bank are among the firms being examined in the civil investigation.

Super Bowl

by The Barringer Team

Check out Century 21 Commercial for the Super Bowl.

Displaying blog entries 1-10 of 12




Contact Information

The Barringer Team
Century 21 M&M and Associates
912 W 11th Street
Tracy CA 95376
Fax: 209-229-7426
Search Listings Now



DRE License #00959667