Real Estate Market

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 sales@tracyhomes.com

Tracy, CA

ACTIVE Status

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

PENDING Status

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

 PENDING Status

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)

 It's a Winner!

Below is a common story happening in our office…

Yesterday a lady emailed about a home and said she heard my podcast about "Writing an Offer That Wins".  She went on about how she's written 20 offers with another Realtor and has never bought a home before.  She said it hit her when she heard my podcast.  She realized her agent was not aggressive enough, didn't have a strategy or any connections in the real estate industry. 

We made a few phone calls to help her out.  We spoke with the representative of the agent representing the investor.  Upon speaking with him, she purchased a home within 48 hours by simply following our instructions and using our "Buyer Advantage System". 

We would be happy to meet with you and explain our simple strategy for free with no obligations.  In our meeting, we will discuss the real estate market in all areas such as, Tracy, Manteca, Lathrop and Stockton.  

Here is Elysia’s; you can e-mail her to talk about her experience with the Barringer Team.  She wants to tell everyone because she is sooooo happy and that is what makes us happy. 

I was so excited about buying my first home.  But as I was going through the motions of finding a home, I found it wasn’t easy at all. 

I met with several Realtors, looked at so many homes for sale and submitted 20+ offers!!  So many offers I honestly lost count!!  I thought buying a home was going to be fun and exciting, but the experience I was having took all the excitement out of it.  I was so frustrated and discouraged that I almost gave up!  Until I read and heard Bill Barringer’s article about “writing a winning offer”.  I was so impressed with what he had to say that I immediately emailed him asking for his help.  Bill introduced me to Nicole, his buyer’s agent, who was absolutely wonderful!  We looked at ONE house, made ONE offer and my ONE offer was accepted the next day!!  I was speechless when Nicole told me my offer had won!  Working with the Barringer Team was the best decision I made. They are awesome and I would tell everyone, “Call them FIRST!” They are not lying when they say “It really is all about working with a Realtor who knows the business!”

Check it out for yourself at:  http://www.tracyrealestateexpert.com/Blog/Writing-An-Offer-That-Wins. 

Or click here to hear my podcast: http://www.talkrealty.com/billbarringer/audio/player.aspx

Feel Free to e-mail me, I would be happy to tell this story to anyone.

A happy new home owner!

Elysia Keel