Real Estate Market

Featured Listing

Featured Listing

For Sale: $369,000

More Information

The Barringer Team Market Trends Newsletter

Local Market Trends

 

The following information is from the local MLS database, as of Aug 1, 2017 and is compared to (July 1, 2017).   Prices are climbing again this month and more inventory is coming on the market! The amount of listings coming on are replacing the homes coming off but still only 124 homes for sale in Tracy. Demand is still strong and good homes get multiple offers especially homes priced under $400,000 and the higher priced homes are taking longer to sell.  We only have a 1.2 months supply of inventory.  A healthy market has 6 months supply. Prices are increasing as a result of this but appraisals are not keeping up. Be very careful if you or your buyer removes their appraisal contingency.  Buyers are still eager to buy and they are watching the new listings as they hit the market. And with fewer choices buyers are competing to get their offers accepted.   Interest rates are fluctuating up and down with 30 yr fixed at 4.25% and FHA/VA at 3.75-4.0%. 15 yr is 3.375. Still the lowest rates! New home construction projects are popping up more in the area and even though the prices are a little higher, there are still good deals out there in the new communities. The largest one is the Ellis Community with 11 models to choose from.  Don't forget...We can represent you with the new home builders too!  Don't go with out being represented!

   If you have been on the Fence about selling your home then NOW is still the time to sell. We need more listings! We only have a 1.2 month supply of homes to sell.  This is a serious SELLER'S MARKET and buyer in these months are serious buyers.   If you are curious to see how much equity you have in your house, give us a call for a market analysis! 209-833-7777 e-mail is sales@tracyhomes.com. Or go to www.TracyHomeValue.com to get an automated market analysis. 

Tracy, CA

ACTIVE STATUS

Total # of residential properties for sale in the city of Tracy: 124 (98)

# of REO (foreclosures): 1 (1)

# of Short Sales: 1 (2)

Average # of days on market: 24 (28)

#New Construction:  15

The median price of all homes for sale in Tracy: $509,000 ($547,000)

PENDING STATUS

Number of properties currently under agreement: 121 (131)

# of REO: 1 (1)

# of Pending Short Lender Approval: 3 (4)

# of New Construction:  6

Median pending price: $455,000 ($430,000)

 

SOLD STATUS

Residential property sold over previous 30 days: 99 homes (103)

REO's sold in the last month: 1 (2)

Short sales sold in the last month: 1 (2)

Median sale price: $440,000 ($460,000)

# of New Construction:  3

Median # of days on the market:  9 (12)

 

 

Mountain House, CA

 

ACTIVE STATUS

 

Total # of residential properties for sale in the city of Mountain House: 25 (19)

# of REO (foreclosures): 0 (0)

# of Short Sales: 0 (0)

# of New Construction: 3 (4)

Average # of days on market: 15 (10)

The median price of all homes for sale in Mountain House: $609,000 ($599,000)

 

PENDING STATUS

 

Number of properties currently under agreement: 29 (30)

# of REO: 0 (0)

# of Pending Short Lender Approval: 0 (0)

# New Construction: 4

Median pending price: $599,000 ($607,450)

 

SOLD STATUS

 

Residential property sold over previous 30 days: 18 homes (25 homes)

REO's sold in the last month: 0 (0)

Short sales sold in the last month: 0 (0)

New Construction sold: 0

Median sale price: $564,000 ($563,000)

Median # of days on the Market: 7  (10)

*************************

 

HOMES SOLD IN TRACY IN JULY

Take a look at this chart to see the SOLDS in Tracy for July.  Call us for a free Market Analysis on your home!  209-833-7777.

 

    Address    Beds Baths Sq Ft  List    Sell    DOM  
574   Serpa Ranch Rd 4 3 (2 1) 2226 436000 446000 37  
2545   Monroe St 5 3 (3 0) 2917 525000 526500 64  
2465   Mia Way 4 4 (3 1) 3677 689900 630900 114  
2295   Clear Lake Ct 4 4 (3 1) 3054 570000 570000 98  
1561   Lynch Dr 3 2 (1 1) 1087 360000 340000 63  
150 E 7th St 5 2 (2 0) 2465 340000 320000 48  
1350   Schleiger Dr 4 2 (2 0) 1422 379900 385000 42  
2479   Flage Stop Way 4 3 (2 1) 2574 599900 589900 39  
1913 W Kavanagh Ave 3 (4) 3 (2 1) 1808 410000 410000 38  
1050   Sultana Dr 3 1 (1 0) 1000 345000 347000 36  
1431   Autumn Ln 4 2 (2 0) 2025 439999 439999 26  
1020   Zion Ct 3 (4) 3 (2 1) 1436 419900 430000 13  
2844   Redbridge Rd 3 3 (3 0) 2377 550000 550000 29  
2362   Augusta Ave 4 3 (3 0) 2809 555900 540000 53  
3015   Corbett Ln 3 2 (2 0) 1602 425000 428000 19  
360   Baldwin Ln 4 4 (3 1) 2389 460000 445000 36  
200   Renown Dr 4 2 (2 0) 1785 457900 457900 7  
4445   River Brook Ct 3 2 (2 0) 1531 428000 425000 38  
2664   Christy St 5 3 (3 0) 2294 485000 505000 7  
1835   Foxclove Ct 5 (7) 4 (3 1) 3307 695126 675000 14  
106 E 20th St 3 1 (1 0) 1453 339000 345750 12  
145   Hawthorne Dr 3 2 (2 0) 1191 325000 325000 10  
4221   Glenhaven Dr 3 (4) 3 (3 0) 2447 470000 468500 8  
480   Loma Verde Dr 5 3 (3 0) 2642 750000 730000 7  
2080   Tahoe Cir 3 2 (2 0) 1758 455000 445000 16  
747   Harold Smith Dr 4 3 (2 1) 1902 419900 440000 17  
2805   Georgia Dr 3 (4) 2 (2 0) 1415 359000 365000 10  
1582   Egret Dr 5 3 (3 0) 2508 480000 480000 30  
324   William Pishner Jr Dr 4 3 (2 1) 1973 429950 445000 7  
4330   Perennial Pl 4 3 (2 1) 2513 490000 490000 4  
462   Charlemagne Ln 3 3 (2 1) 1373 389988 385000 12  
126 W 20th St 4 4 (4 0) 1779 412500 408000 39  
2186   Calhoun Ct 5 6 (6 0) 4279 799950 790000 30  
576 W 4th St 4 3 (2 1) 1860 399000 399000 27  
149   Wisteria Ln 4 3 (2 1) 2381 480000 475000 14  
3813   Payton Ln 4 (5) 3 (3 0) 3133 559950 560000 8  
409   Burlington Dr 3 3 (2 1) 1973 426718 426000 40  
561   Sir Lancelot Ct 4 3 (3 0) 1950 419950 445000 8  
1211   Windsong Dr 4 (5) 4 (3 1) 2968 539000 535000 28  
1333   Chaplin Ct 5 3 (3 0) 2651 519900 515000 30  
330 S C St 4 2 (2 0) 1437 399999 400000 9  
1947   Alhambra Ct 5 3 (3 0) 2864 525000 530000 19  
721   Marie Angela Dr 3 2 (2 0) 1513 410000 425000 10  
1668   Kyle Dayton Dr 3 (4) 3 (2 1) 2111 549000 540000 17  
2823   Dorset Ln 3 (4) 3 (3 0) 2397 485000 490000 7  
4314   Tropaz Ln 3 2 (2 0) 1645 429900 436500 5  
2585   Redbridge Rd 5 3 (3 0) 2482 585000 580000 26  
345   Adobe Ln 4 2 (2 0) 1844 400000 415000 6  
227   Hollywood Ave 3 2 (2 0) 1384 375000 410000 7  
1975   Woodcrest Ct 3 3 (2 1) 1373 389900 363000 22  
1264   Lonna Way 3 2 (2 0) 1541 425000 428000 7  
710   Rockport Ct 3 3 (2 1) 1941 434000 434000 21  
110   Country Ct 3 2 (2 0) 1588 409888 420000 7  
522   Cecelio Way 3 2 (2 0) 1342 415000 421000 6  
1355   Christina Dr 3 2 (2 0) 1329 356000 372000 6  
1350   Christina Dr 3 3 (2 1) 1548 375000 400000 6  
2000   Bridle Creek Cir 3 (4) 3 (2 1) 1565 399000 435000 9  
1326   Gentry Ln 4 3 (3 0) 1863 425000 430000 5  
640   Larkspur Dr 4 3 (2 1) 1830 447500 470000 5  
897   Trinity Ct 4 4 (3 1) 3054 799000 800000 10  
2543   Evelyn Ct 5 3 (3 0) 2577 499950 507000 8  
495 W Carlton Way 2 1 (1 0) 912 305000 320000 9  
75   Mary Ct 3 2 (2 0) 1075 360000 376000 5  
1130   Providence Ct 4 3 (2 1) 1831 453000 453000 16  
1789   Laurelgrove Ln 4 3 (2 1) 2074 429950 444000 7  
255   Cedar Mountain Dr 4 3 (2 1) 2009 435000 430000 13  
1995   Harvest Landing Ct 4 3 (3 0) 1772 425000 440000 8  
1900   Thomas Dehaven Ct 4 2 (2 0) 1475 415000 425000 10  
1214   Megan Ct 4 3 (2 1) 1834 409000 430000 3  
110 S Hickory Ave 3 3 (2 1) 1902 425000 430000 6  
261   Kelley Mist Ct 4 3 (3 0) 2944 569000 580100 6  
231   King Arthur Ct 3 2 (2 0) 1660 427950 435000 8  
1715   Hudson Way 5 3 (3 0) 2360 469900 470000 6  
1920   Plum Ln 3 2 (2 0) 1592 425000 435000 4  
2101   Tennis Ln 4 (5) 3 (3 0) 2718 529888 555000 3  
295 S 3rd St 3 3 (2 1) 1348 370000 390000 11  
3566   Mary Jean Ln 4 3 (2 1) 1817 375000 405000 8  
1670   Whispering Wind Dr 3 (4) 2 (2 0) 2304 484950 487000 2  
180   Hawthorne Dr 3 2 (2 0) 1191 350000 360000 11  
471   Tennis Ln 3 3 (2 1) 1973 425000 428500 9  
246 E Highland Ave 2 1 (1 0) 801 319000 325000 5  
1304   Crossroads Dr 4 3 (3 0) 2051 400000 431000 8  
2358   Babcock Ln 4 3 (2 1) 2689 499900 515000 1  
361 W Emerson Ave 2 (3) 2 (2 0) 1427 285000 306000 6  
500   Silvertail Pl 4 3 (2 1) 1899 450000 470000 8  
770   Traditions Ct 4 3 (2 1) 1726 449000 445000 10  
3337   Jeanette Ct 3 2 (2 0) 1345 382000 380000 7  
3111   Jerrold Zanzi Ln 5 3 (3 0) 2412 499900 515000 7  
1751   Lincoln Blvd 4 2 (2 0) 1768 395000 405000 5  
150   Arezzo Way 5 3 (3 0) 2789 515000 522000 5  
1136   Rosette   3 4 (3 1) 1703 410000 400000 8  
556   Rockingham Way 3 3 (2 1) 1771 420000 452000 7  
755   Glacier St 4 (5) 3 (3 0) 2360 469900 472000 5  
2347   Golden Leaf Ln 3 2 (2 0) 1604 420000 427000 6  
1253   Pyrenees St 4 3 (3 0) 2859 555000 555000 12  
3452   Eagle Rock Loop   4 3 (3 0) 2447 490000 505000 7  
2622   Merchant Dr 4 3 (2 1) 2176 465000 475000 5  
115 E E 10th St 2 1 (1 0) 680 280000 265000 11  
1562   Cole Ln 4 3 (3 0) 1800 449900 443000 6  

7 Reasons To Stop Renting

7 Reasons To Stop Renting Today

Still renting? You must have a good reason. With rents continuing to rise across the country, interest rates staying around historic levels, and new loans lowering down payment requirements, it just makes sense to take the leap to homeownership. Maybe you've got terrible credit and don't want to take the time to improve it (or don't know about loans that accept lower scores)? Or, maybe you just like giving your money away. If you're still not on board, these 7 reasons might change your mind.

Because owning a home is still less expensive than renting across the country

GOBankingRates' annual survey of "the cost of renting versus owning a home in all 50 states and the District of Columbia" just came out, and, while they "found that the number of places where it's more expensive to own than rent has increased," the number went from 9 to 11. That means that, in 39 states, it still makes more financial sense to buy.

Rates are near historic lows: We're spoiled. Seriously. Anyone who has been paying attention to the market over the last few years and has seen interest rates with a 3 or 4 before that decimal point may just think it'll always be that way. But history has a way of repeating itself, and while we may not see rates in the teens again anytime soon, most industry experts have been predicting rates moving into the 5s sometime this year, with a pattern of rising rates beyond. Buying a home while money is cheap is a smart move.

"A difference of even 1 percent can have a major impact on your total payments over time," said ZACKS. "For instance, a $200,000 mortgage for 30 years at an interest rate of 5 percent would require a monthly payment of $1,073.64. By comparison, the same mortgage at 4 percent interest would result in a payment of $954.83." That might not seem like a big deal every month, but, consider the long-term potential: "Over 30 years, the total difference between the two would be $42,771.60."

FHA loans and the like make it easier to qualify: Don't have an 800 credit score? You don't need to today. FHA requirements are lower than conventional loans, and you may already be where you need to be to qualify. "The average FICO score for buyers who finance FHA loans is 683, according to Ellie Mae. That's considerably lower than the average score of 753 for conventional, non-FHA financing," said Interest.com. "Most lenders have a...minimum of 600."

A little thing called equity: Rising rents may or may not equate to rising property values in your area, but either way, you're not going see any financial benefit from it. When you own your home and your equity rises, that equity is yours. And so is the choice of what to do with it. Whether you decide to let it sit and continue to grow or tap your equity for home improvement projects, the money is yours to decide how to use.

The days of the 20 percent down payment are all but gone: Does 20 percent down make it more likely that you'll qualify for a loan? Sure. Does that mean you have to come up with that huge chunk of money? No. Nor do you have to come up with 10 percent down, which, for some reason, the majority of new buyers seem to believe. "87% of first-time buyers think they need 10% or more down to buy a home," said The Mortgage Reports.

The FHA loan is one of the most popular loans available to first-time buyers because, not only can you qualify with a fair credit score, but the down payment is as low as 3.5 percent, and, "100 percent of the down payment can be a financial gift from a relative or approved non-profit," they said. But, it's not the only option for a low down payment. Fannie Mae's Conventional 97 Mortgage and HomeReady Mortgage require just 3 percent down. The Mortgage Reports also has information on closing cost help and down payment assistance programs.

Rents keep rising: Unless you're in a rent-controlled apartment (and, bless you if you are since there are so few left), your rent is just going to keep going up every year. Apartment List's monthly National Apartment List Rent Report shows that, "Our national rent index is continuing to climb, with month-over-month growth of 0.5 percent for June. Rents grew at a rate of 0.5 percent between May and June, which is generally in line with the monthly growth that we've seen over the course of this year thus far. Year-over-year growth at the national level currently stands at 2.9 percent, surpassing the 2.6 percent rate from this time last year. In addition to the growth on the national level, rents are now increasing in nearly all of the nation's biggest markets."

When you own your home, your payment is your payment is your payment. Unless you take out a home equity loan or refinance to take cash out, your payment's not going to go up.

Tax breaks: Here's another bit of fun for renters: nothing you pay comes back to you. I mean, except for that security deposit, but that all depends on what effect your dog and those few parties you threw had on the condition of the home. As a homeowner, you get to write off all kinds of stuff, which lowers your overall costs. "Your biggest tax break is reflected in the house payment you make each month since, for most homeowners, the bulk of that check goes toward interest. And all that interest is deductible," said Bankrate. "Did you pay points to get a better rate on any of your various home loans? They offer a tax break, too. The other major deduction in connection with your home is property taxes."

And think about it this way: Even if your house payment is going to be a little bit higher than what you're currently paying in rent, it's not an apples-to-apples comparison. How do those numbers look when you calculate the tax savings? 


 

Don't Try To Time The Market

It Doesn't Pay To Wait To Buy A Home

There will always be those who try to "time the market," but there's one factor you can't know -- when buying a home will become more expensive.

Certainly you can tell from recent trends whether or not prices and mortgage interest rates are in your favor. Monthly prices have risen year-over-year for three years. Mortgage interest rates are slowly rising, but remain at extremely attractive levels.

You could wait for prices to fall, but there are two problems with that idea. First, it would take an economic recession to lower prices, which could take months or years. With the exception of the Great Recession, you won't know if you're in or out of a recession until the talking heads online inform you.

Second, mortgage interest rates have been kept artificially low for five years. That's a very long time. With steady gains in employment, it's not likely they will go any lower. In fact, higher interest rates could wipe out any gains you could save by waiting to buy.

Here's a real life example:

If you buy a home and get a $200,000 30-year, fixed-rate mortgage at 4.5 percent, your monthly payment will be $1,013.37 and you'll pay $164,813.42 in interest over the life of the loan.

The same home at 5.0 percent interest costs $1,073.64, a difference of $60.27 more per month and $186,511.57 in interest over the life of the loan. The difference in interest payments alone is $21,698.15.

If your home dropped 5% in value and you were able to buy it at $190,000 and 4.5% interest, your payment would be $962.70, a difference of $50.67 per month, with $156,572.75 in interest over the life of the loan. You'd save $50.67 more per month than if you'd paid $200,000.

At 5.0 percent, your $190,000 home costs $1019.96, or $53.68 more per month than if you'd gotten the loan at 4.5 percent. Your interest payments would total $177,185.99 over the life of the loan. The difference in payments is $20,613.24.

Currently, mortgages for borrowers with good credit are around 4.00 percent or lower. If you had purchased your $190,000 home a year and a half ago when prices were lower and interest rates were at 4.00% interest, it would cost you $907.09 per month and a total of $13,6552.06 in interest.

The question is -- did you?

There's never a perfect time to buy a home and you shouldn't buy a home just for financial reasons. Buy your home to raise your family, be close to friends and relatives and to be free from a landlord where you get nothing back but cancelled checks at the end of the lease.

Don't put your dreams off to gamble with the market. Think of getting the home you want at a reasonable price and payment as the best way to beat the market. 

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