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Rate's are Down Again!

by The Barringer Team

Interest Rate's are down Again. 5.87% for a 30 yr Fixed.

http://www.tracyrealestateblog.com/2008/03/rates-are-down.html

Tracy Area Market Report 3/14/08 vs. 2/14/08

by The Barringer Team

 

Market Report for Lathrop, Ca.
The following information is from the local MLS database, as of March 14th 2008, as compared to February 14, 2008

ACTIVE Status:
Total # of Residential properties for sale: 275 270
Average # of days on market: 90 97
The Median price of all Homes for sale: $299,000 $328,000
The Average price of all Homes for sale: $320,000 $344,063

Lowest priced home: 2bd/2ba/923 sq. ft /$140,000
Highest priced home: 6bd/5ba/3,900 sq. ft/ $1,600,000

Pending Status:

 

# of properties currently under agreement: 70 40
Average pending price: $317,000 $313,562
Avr. pending home is 4bd, 3ba, 2400 sq. ft at a price and 68 days on the market.

SOLD Status (for previous 30 days):

 

Residential property sold over previous 30 days: 10 units or $3,104,990 11 units or $3,468,900 in sales volume.
Average sale price: $331,000 $315,100
High: $474,000(5bd/4ba 3300 sq. ft home).
Low: $239,000 (3bd/2ba 1672 sq. ft home)


Summery: Forclosures are being priced right and picked up by buyers taking advantage of the low prices.

 

 

There are still at least 4 or 5 builders still competing for buyers in this small boom town of 10,000 people. Its hard to tell what all of the builders out there are doing because some post there sales to the MLS, some don't. I am guessing that the builders do have more sales then what is represented. The majority of all homes pending and sold are Bank owned properties. These sellers are the only ones who can compete on the same cooperate level some builders such as KB and Pulte . If you are a seller you have to Compete with these big boys. If you are a Buyer it is the Best time in years to buy. Interest rates are at a all time low and there is a ton of inventory to choose from. Which ever one you are call the Local EXPERTS to Show you the way. We also can negotiate with the new home builders for you. So call us or e mail us and we will bring you to the new homes and represent you. The builder pays us but we act as your BUYERS AGENT!  Call or e mail 1-800-894-7282 or e mail us at Tiger@bpbarringer.com

Below are links to previous Tracy area market reports:

2/2/09 vs 1/2/09 http://www.tracyrealestateexpert.com/Blog/Tracy-Area-Market-Report-2209-vs-1209

1/2/09 vs. 12/1/08 http://tracyrealestateexpert.com/blog_post.asp?post=20478

12/1/08 vs. 11/3/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=19465

11/3/08 vs. 10/1/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=18625

10/1/08 vs. 9/2/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=17634

9/2/08 vs. 8/1/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=16678

8/1/08 vs. 7/9/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=15614

 4/4/08 vs. 3/4/08 http://tracyrealestateexpert.com/blog_post.asp?post=9503

3/14/08 vs. 2/14/08 http://tracyrealestateexpert.com/blog_post.asp?post=8914

3/14/08 vs. 2/14/08 http://tracyrealestateexpert.com/blog_post.asp?post=8913

2/14/08 vs. 1/11/08 http://tracyrealestateexpert.com/blog_post.asp?post=8227 

2/14/08 vs. 1/11/08 http://tracyrealestateexpert.com/blog_post.asp?post=8226

10/30/07 http://tracyrealestateexpert.com/blog_post.asp?post=5779

Tracy Area Market Report 3/14/08 vs. 2/14/08

by The Barringer Team

The following information is from the local MLS database, as of March 14th as compared to February 14th 2008.


ACTIVE Status:
Total # of Residential properties for sale in Weston Ranch: 346 337
Average # of days on market: 79 82
The Median price of all Homes for sale: $236,000 $249,000
The Average price of all Homes for sale:$250,698 $267,919

lowest priced home: 3bd/2ba/1,023 sq. ft /$100,900
Highest priced home: 6bd/4ba/3,376/$519,800

PENDING Status:
Number of properties currently under agreement: 90 60
Average pending price: $222,845 $236,562
Avr. pending home is 4bd, 3ba, 1908 sq. ft at a price $222,000 and 36 days on the market.


SOLD Status:
Residential property sold over previous 30 days:22 units or 4,963,900 16 units or $3,586,000 in sales volume.
Average sale price:$225,825 $218,100
Median sale price:$212,100  $213,098

High: $270,000 (4bd/3ba 2300 sq. ft home).
Low: $259,000 (2bd/2ba 1372 sq. ft home)
 

summary: Prices still going down but picking up. This is a REO Market at its strongest.

 The Weston Ranch Market went up Faster than all of the surrounding markets in the past 4 years. This is why the prices there are going down faster than the surrounding markets at present { surrounding Markets} Tracy, Lathrop, Manteca, Modesto, ect... If you are wanting to sell in this Market you have to compete with Bank owned homes as well as short sales. If you are a Buyer it is the BEST time in years to buy all things are in your favor Low interest rates and a huge amount of inventory to choose from. Which ever you are call the local EXPERTS to show you the way. The BARRINGER TEAM 1-800-894-7282  or e- mail us   tiger@bpbarringer.com

Below are links to previous Tracy Area Market Reports:

1/2/09 vs. 12/1/08 http://tracyrealestateexpert.com/blog_post.asp?post=20478

2/2/09 vs 1/2/09 http://www.tracyrealestateexpert.com/Blog/Tracy-Area-Market-Report-2209-vs-1209

1/2/09 vs. 12/1/08 http://tracyrealestateexpert.com/blog_post.asp?post=20478

12/1/08 vs. 11/3/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=19465

11/3/08 vs. 10/1/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=18625

10/1/08 vs. 9/2/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=17634

9/2/08 vs. 8/1/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=16678

8/1/08 vs. 7/9/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=15614

 4/4/08 vs. 3/4/08 http://tracyrealestateexpert.com/blog_post.asp?post=9503

3/14/08 vs. 2/14/08 http://tracyrealestateexpert.com/blog_post.asp?post=8914

3/14/08 vs. 2/14/08 http://tracyrealestateexpert.com/blog_post.asp?post=8913

2/14/08 vs. 1/11/08 http://tracyrealestateexpert.com/blog_post.asp?post=8227 

2/14/08 vs. 1/11/08 http://tracyrealestateexpert.com/blog_post.asp?post=8226

10/30/07 http://tracyrealestateexpert.com/blog_post.asp?post=5779

 

 

Thinking Outside the Box

by The Barringer Team

There's an awful lot of conversation today about the difficulties we're all having to understand what's going on with our economy. None of us really know how long this downturn is going to take or how severe it's going to be. The only thing we're certain of is that we need to all learn to think outside the box. We need to be creative, we need to be innovative, we need to find ways to tackle our problems and really think about what we can do to do better.

I was impressed with a story I heard a little while ago about an old man who lived alone in the country. He was worried about digging his tomato garden because it was such hard work and the ground was hard. His only son Vincent, who used to help him, was in prison. The old man wrote a letter to his son and described his predicament:

Dear Vincent,

I'm really feeling bad because it looks like I won't be able to plant my tomato garden this year. I'm just getting too old to be digging up a garden plot. I know if you were here my troubles would be over. I know you would be happy to dig the plot for me.

Love,
Dad

A few days later, he received a letter from his son:

Dear Dad,

Don't dig up that garden, that's where I buried the bodies.

Love,
Vinny

At 4:00 a.m. the next morning, FBI agents and local police arrived and dug up the entire area without finding any bodies. They apologized to the old man and left. That same day the old man received another letter from his son:

Dear Dad,

Go ahead and plant the tomatoes now. That's the best I could do under the circumstances.

Let's all work hard at thinking outside the box, being creative and solving problems.

Link to Bank owned homes

by The Barringer Team
 Hot List:

Here is a link to all of the REO(bank owned homes) I think are an excellent investment. I have seen most of these with other clients and some have offers on them already. It will be totally different next week. (link)

Displaying blog entries 1-5 of 5

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The Barringer Team
Century 21 M&M and Associates
912 W 11th Street
Tracy CA 95376
209-833-7777
800-984-7282
Fax: 209-229-7426
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