Real Estate Information Archive

Blog

Displaying blog entries 1-6 of 6

49er / Raider Schedule

by The Barringer Team

 

REGULAR SEASON

Sept. 9 at Green Bay Packers

Sept. 16 vs Detroit Lions

Sept. 23 at Minnesota Vikings

Sept. 30 at New York Jets

Oct. 7 vs Buffalo Bills

Oct. 14 vs New

Oct. 18 vs Seattle Seahawks

Oct. 29 at Arizona Cardinals

Nov. 11 vs St. Louis Rams

Nov. 19 vs Chicago Bears

Nov. 25 at New Orleans Saints

Dec. 2 at St. Louis Rams

Dec. 9 vs Miami Dolphins

Dec. 16 at New England Patriots

Dec. 23 at Seattle Seahawks

Dec. 30 vs Arizona Cardinals

 

Away Game                 Home Game

RAIDERS Schedule

Regular Season

Sept 10 vs San Diego Chargers

Sept 16 at Miami Dolphins

Sept 23 vs Pittsburgh Steelers

Sept 30 at Denver Broncos

Oct 7 Bye

Oct 14 at Atlanta Falcons

Oct 21 vs Jacksonville Jaguars

Oct 28 at Kansas City Chiefs

Nov 4 vs Tampa Bay Buccaneers

 

Nov 11 at Baltimore Ravens

Nov 18 vs New Orleans Saints

Nov 25 at Cincinnati Bengals

Dec 2 vs Cleveland Browns

Dec 6 vs Denver Broncos

Dec 16 vs Kansas City Chiefs

Dec 23 at Carolina Panthers

Dec 30 at San Diego Chargers

 

 

How is the Market?

by The Barringer Team

The following information is from the local MLS database, as of August 1, 2012 and is compared to (July 1, 2012). The market here is dominated by short sales, REO's and Flips. The MetroList MLS has now created a new category for Short Sales that have an offer sent to the bank for approval. They are now Pending Short Lender Approval. This will truly show the consumer the amount of active listings. 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 3.49% and 15 year at 2.80%.
The inventory is declining with barley one month supply left. There is a definite lack of good homes for sale. This is because there are many buyers grabbing them as they come out. Prices are increasing as a result of the competing between the buyers. If you have been on the Fence about selling your home then NOW is the time to sell. If you are in need of counseling about the short sale process and how it effects your credit, please give us a call. Just call or e-mail for an hassle free appointment or to just talk about the market anytime. 1-800-894-7282 or sales@tracyhomes.com

 

Tracy, CA

ACTIVE Status

Total # of residential properties for sale in the city of Tracy: 48 (52)

# of REO (foreclosures): 9 (8)

# of Short Sales: 9 (18)

Average # of days on market: 85 (89)

The median price of all homes for sale in Tracy: $272,752 ($257,750)

The average price of all homes for sale in Tracy: $297,752 (305,569)

Lowest priced home: 1br/612sqft. ft. /$54,900

Highest priced home: 7bd/4427sqft. ft. /$900,000

PENDING Status

Number of properties currently under agreement: 389 (247)

# of REO: 28 (26)

# of Pending Short Lender Approval: 141 (141)

Average pending price: $239,517 ($250,975)

Median pending price: $235,000 ($240,000)

SOLD Status

Residential property sold over previous 30 days: 103 homes (105)

REO’s sold in the last month: 15 (16)

Short sales sold in the last month: 38 (49)

Average sale price: $262,566 ($241,159)

Median sale price: $255,000 ($253,000)

High: $655,000 (5bd/4538q. ft. home)

Low: $71,000 (2bd/708 sq. ft. home)

 

 

Mountain House, CA

ACTIVE Status

Total # of residential properties for sale in the city of Mountain House: 19 (16)

# of REO (foreclosures): 1 (1)

# of Short Sales: 5 (6)

Average # of days on market: 33 (89)

The median price of all homes for sale in Mountain House: $365,800 ($310,000)

The average price of all homes for sale in Mountain House: $348,042 ($309,651)

Lowest priced home: 2bd/1367sq. ft. /$155,000

Highest priced home: 5bd/3362 sq. ft. /$500,000

PENDING Status

Number of properties currently under agreement: 116 (91)

# of REO: 7 (7)

# of Pending Short Lender Approval: 39 (54)

Median pending price: $300,000 ($310,000)

Average pending price: $294,480 ($301,652)

SOLD Status

Residential property sold over previous 30 days: 18 homes (26 homes)

REO’s sold in the last month: 4 (7)

Short sales sold in the last month: 5 (7)

Average sale price: $340,892 ($301,715)

Median sale price: $365,900 ($326,000)

High: $459,000 (5bd/4021sq. ft. homes

Low: $140,000(2bd/1262 sq. ft. home)

New Listing

by The Barringer Team

 

Image Unavailable
285 Arroyo Hondo Cir
Price: $190,000 Beds: 4 Baths: 2 Sq Ft: 1746
Great house in Meadow Glen close to school and on a corner lot. Formal listing and dining room with separate family room w/fireplace. Large kitchen with breakfast bar. 4 bedrooms too.Pool just right for summer....

 

Dress Your House For Success

by The Barringer Team

Dress Your House For Success

For a long time it’s appeared to me that large expenditures on renovation or remodeling were kind of unnecessary when getting one’s place ready to sell. It came as no surprise to me then when I saw Forbes Magazine run a segment on the 20 best and worst home improvements for the buck and almost all of the “best” in that story were simple, basic things that make nothing but sense.

Of the 10 best suggestions, according to Forbes, here’s my favorites:

1. Clean up the house.

Give your home a top-to-bottom cleaning or, better yet, hire a pro to do a deep clean. Do it even before you hiring a real estate agent. If you don’t have a regular cleaner, hire one to keep the place tidy until your house is sold.

2. Simple repairs.

It is well worth the modest cost to fix broken outlets, tiles, light switches, door latches, folding doors and ceiling fans. Buyers view such flaws as signs of deeper problems–and may lower their bids accordingly.

3. Eliminate clutter.

A 10-foot-by-10-foot locker at Public Storage or one of its competitors is likely to cost you less than your phone and cable bills. Move out unneeded dishes, linens, personal items and furniture. Try to empty closets. Your house will appear bigger and more valuable.

4. Paint your house.

This can actually be a do it yourself thing to save money. If the paint on the front of your house is peeling, scrape it and repaint. Indoors, cover up any blemishes and repaint any rooms in loud colors that may be off-putting to others.

5. Clean up the yard.

No need to break the bank here. Mow the lawn, weed the flower beds and pull any dying bushes. Plant flowers in bare spots.

6. Replace hardware.

It’s a mistake to replace the kitchen cabinets or closet doors. But you can convince buyers to pay a little more by installing new handles, knobs and drawer pulls where needed.

7. Replace old appliances.

A new stainless steel range will not prompt buyers to pay much more for your home. But a seriously bedraggled stove or refrigerator could scare them off. If you’ve got a junky-looking appliance, swap it out for a budget-minded replacement.

All of this makes total sense to me. Interestingly, Forbes is not gung ho about the idea of large remodeling projects or room additions to maximize value prior to a sale. They think, and I agree, that a wise use of your funds can and will bring you the biggest bang for your buck. I would go slightly further and suggest the use of a good professional stager for preparation of the home as well. Intelligent planning and decorating will really assist you in getting top dollar when the time comes.

 

Mancuso Estates

by The Barringer Team

 

 

 

 

Listing #324

$469,000

Very nice house with
lots of great features

Features include:

4 bedroom
3 Baths
Built in 1995
2580 square feet with a 1.01 acre lot

More Photos


  • 27846 Fagin Ct Tracy Ca 95304
  • Exclusive Mancuso Estates
  • Semi custom elegant one acre estate
  • Charming covered porch
  • Tile entry with formal living room on the left
  • Formal living room leads to formal dining room both with carpet
  • Huge family room with gas fireplace
  • Gourmet kitchen with island features tile counter tops and custom oak cabinets with pantry's
  • Kitchen features charming garden window, gas range top in island, double ovens and microwave, dishwasher trash compactor, and refrigerator that matches appliances stays
  • One full bath with shower off the kitchen
  • Separate laundry room with sink and cabinets, door to patio
  • Three car attached garage and separate detached 2 car garage/workshop
  • There are 4 bedrooms with one off the entry with double doors (great office)
  • Hall bath has walk in tiled shower
  • Master is huge with walk-in closet, door leading to patio
  • Master bath features another closet, full oversized shower, large Jacuzzi tub and double sinks
  • Large one acre corner lot features fenced back yard with large covered porch and personal spa
  • One side of yard is ready for your green thumb with raised planter boxes and many fruit trees
  • Yard is fully landscaped with sprinkler system front, back and sides
  • Exclusive area of custom homes and Jefferson School District
  • Home is 2580 square feet with a 1.01 acre lot built in 1995
  • Immaculate condition and comfortable floor plan

 

Appraisal Problems

by The Barringer Team

Appraisal Problems

 

 

2012 has been such a funky year for appraisals. Possibly the most problematic year that I can remember too. The sharp incline in activity, multiple offers and overbids leading to price escalation has made it harder than ever to appraise a home. Once upon a time the loan officer you worked with had a favorite appraiser they worked with and that went a long way to insure a competent appraisal. Now, those same lenders can’t even speak to the appraiser…who comes via a request to an outside appraisal management company. I’ve worked with appraisers who had never been in the town where they were doing the appraisal. In one case I had to assist the lost appraiser find the house I sold. That doesn’t inspire allot of confidence in me with regard to their knowledge of the local market and the countless variables that affect value there.

Any time I enter escrow I worry to some degree about whether or not the place will appraise, and if it doesn’t what impact will that have on the deal. I have no doubt that this fear is in the mind of every listing agent who’s in a multiple offer scenario. This is one of the major reasons that sellers look for offers with more than 20% down payment…as well as offers that waive the appraisal contingency all together. If you have 30% down you won’t have an issue even if the appraisal comes in low.

I have 2 different appraisal headaches right now. In one case I have a house in Tracy in escrow where the appraisal came in $20,000 under our agreed upon price. My buyers scraped and scratched to come up with that down payment. When they appraisal came in 20k low they have 4 choices…they can 1) back out, 2) make up the difference themselves in cash, 3) the seller can lower the price or 4) both parties can split the difference. In this case the buyers didn’t have the extra money and couldn’t get any more either. The seller reduced the price. As you can imagine, this is painful for the seller but the truth is there’s not much she/he could do. You can’t complain to the bank…it just is what it is. If you take another offer it better be with 30% or more down because that appraisal isn’t going to disappear. You’re stuck.

My other headache came after winning a bidding war with 11 offers and a purchase price that went $ 45,000 over asking. The appraisal came in $40,000 under our price. This wasn’t a huge problem since my buyer put down over 50% but it sure doesn’t feel good when an appraisal comes in a bunch lower. Nobody likes to feel that they overpaid for a home. The thing that drove me crazy here was the comment the appraiser made that he was an expert in Tracy and the market here has been dead since the last month or so. Really? He couldn’t justify the price as a result. What market has he been in? Not this one. I’d like to think that value is determined by what a buyer is willing to pay, but that’s not the case.

To make things even stranger, the appraiser who did the first example above has done 3 or 4 others on deals I’ve had this year. 2 of those were on properties that went WAY over asking and no comps at all were available…and he brought both in at the agreed upon price. The example above didn’t seem that far off to me and he brings it in 20k short. Go figure! Appraisals are pretty capricious…

Displaying blog entries 1-6 of 6

Syndication

Categories

Archives

Contact Information

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
Search Listings Now

            

   
    

DRE License #00959667