Real Estate Information

It is hard to believe, but 2012 has roared in and we are all moving forward into the New Year! I wish you a Happy and prosperous 2012!!!

2012 starts out with a bright spot in the Real Estate market and that is the continuation of historic low mortgage interest rates. 2011 saw rates hit record lows and hold that pattern throughout the year.

 In Freddie Freddie Mac's results of its Primary Mortgage Market Survey®, the average fixed mortgage rates finishing the year near their all-time historic lows helping to keep homebuyer affordability high. Averaging 3.95 percent, the 30-year fixed has been at or below 4.00 percent for the past nine consecutive weeks and only twice in 2011 did it average above 5.00 percent. This has certainly helped the national Real Estate market by making home purchases affordable and helping to make loan qualification a possibility for many who otherwise would be out of the home purchase market.  

Will mortgage rates continue this low level during 2012?  Indications at this time point to a positive "YES"!  This should hold true for no less than the first half of 2012.  With the prediction that homes values will continue their decline in most national markets through 2012, the possibility on home ownership may become even more realistic for many.

Have An Awesome Week!

Yesterday I took my Grandsons to see Santa and it was a GREAT time. Owen did not like Santa that much. LOL!

Merry Xmas

Bill

Check out our podcast click on link below.

http://www.talkrealty.com/billbarringer/audio/player.aspx

The following information is from the local MLS database, as of December 1, 2011 and is compared to (November 1, 2011).  The market here is still dominated by short sales and REO's. 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". Intrest rates remain low with 30 yr fixed at 4.00% and 15 year a 3.30%. This is a healthy market now. There is a definate 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 sales@tracyhomes.com

Tracy, CA

ACTIVE Status

Total # of residential properties for sale in the city of Tracy: 308 (335)

# of REO (foreclosures): 19 (33)

# of Short Sales: 243 (225)

Average # of days on market: 89 (85)

The median price of all homes for sale in Tracy: $225,000 ($229,000)

The average price of all homes for sale in Tracy: $229,798 ($232,106)

Lowest priced home: 1bd/612sq. ft. /$50,999

Highest priced home: 7bd/5159sq. ft. /$998,000

PENDING Status

Number of properties currently under agreement: 224 (214)

# of REO: 39 (36)

# of Short Sales: 131 (113)

Average pending price: $223,706 ($233,685)

Median pending price: $229,975 (226,750)

 SOLD Status

Residential property sold over previous 30 days: 102 homes (90)

REO’s sold in the last month: 26 (25)

Short sales sold in the last month: 36 (35)

Average sale price: $226,872 ($231,061)

Median sale price: $220,000 ($220,000)

High: 812K (6bd/11,120 sq. ft. home)

Low: 54,200 (0bd/875 sq. ft. home)

Mountain House, CA

 ACTIVE Status

Total # of residential properties for sale in the city of Mountain House: 88 (89)

# of REO (foreclosures): 3 (6)

# of Short Sales: 71 (73)

Average # of days on market: 97 (101)

The median price of all homes for sale in Mountain House: $279,950($280,000)

The average price of all homes for sale in Mountain House: $271,472($276,485)

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

Highest priced home: 6bd/4051 sq. ft. /$449,500

 PENDING Status

Number of properties currently under agreement: 60 (60)

# of REO: 11 (11)

# of Short Sales: 35 (37)

Median pending price: $279,975 ($283,025)

 Average pending price: 287,804 (286,097)

 SOLD Status

Residential property sold over previous 30 days: 17 homes  (21 homes)

REO’s sold in the last month: 11 (4)

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

Average sale price: $301,695276,171 ($301,695)

Median sale price: $260,000($296,000)

High: 415,000 (5bd/3913sq. ft. homes

Low: $114,900(3bd/1262 sq. ft. home)

Check out this home county records list it as a 1br but it does have 2br's on a huge lot and close to schools and shopping. Click on link below.

http://tracyhomes.com/ourlistings/317/listing.html

The message here is not original, but is a very simple and profound truth.  Soon or later, you get what you give, often multifold.  And not just the normal things you do for people in your everyday life.  It’s the special times, the times when you see an opportunity to do something meaningful for another even though it is not convenient or enjoyable for you.

As Thanksgiving approaches (for the U.S. anyway), take a minute to think about the news story I mentioned, and by turns put yourself into the position of each man.  Imagine how grateful the guy felt who needed help changing his tire that someone had enough empathy to pull over on a highway and provide assistance.  Imagine the depth of gratitude the man having the heart attack felt to have someone there who knew what to do to pull him through.  Imagine what the outcome would have been had neither of those two events happened?

What are you truly grateful for?  Who made what happen in order for that to be possible?  You never know how deeply what may seem like a simple act on your part impacts another person.  So look for those opportunities, enrich someone else’s life… as well as your own.

May You and Your Family have a Wonderful Thanksgiving.

The Barringer Family

Bill Barringer
Team Leader
209-833-7777
The Barringer Team, Century 21 M&M and Associates 

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

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"A Referral is the Best Compliment we can receive" 

Below is some pretty decent advise from the Wall Street Journal regarding investing in real estate called "Are You Ready to be a Landlord". I think here in Tracy its a perfect time to become a landlord. We are renting properites within a month of selling them. I offer full service property managment services as well as contractors who can get repairs done in a quick turn around time.

209-833-7777


Below are some highlights:

• For the week ending Nov. 10, the average rate on a 30-year fixed-rate loan was 3.99%, not far from the Oct. 6 record low of 3.94%, according to Freddie Mac data going back to 1971.

• The average monthly rent for all categories, including apartments and single-family homes, was $846 nationwide in the third quarter, up 2.5% from the same period a year earlier.

• Government officials have been soliciting ideas for how to convert some of the foreclosed homes owned by Fannie Mae and Freddie Mac into rental.

•  A good rule of thumb: Make a deal only if you can collect at least 1.25% of the purchase price each year in rental income. For Tracy we are looking at $1600-1850 per month for an investment of 200K-250K, which would be 9.6% to the 200k home and 8.88% for the 250K home.

• When looking at properties, act like a renter, says Jeff Cronrod, president of the Boulder, Colo.-based American Apartment Owners Association. Tour the neighborhood to see if landlords seem desperate to lure tenants. Are there lots of vacancies? Are buildings offering deals like living rent free for a couple of months in order to drive up demand? If so, be wary, Mr. Cronrod says.

• To ensure that a major repair doesn't break you, set aside at least six months' worth of expected rent, he says.