Real Estate Market

Featured Listing

Featured Listing

For Sale: $599,000

More Information

The Barringer Team Market Trends Newsletter

Local Market Trends

 

The following information is from the local MLS database, as of April 1, 2017 and is compared to (March 1, 2017).   Prices are climbing again this month due to the lack of inventory! The amount of listings coming on are slowing way down as well. But 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 1.8 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.  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 1.8 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: 100 (92)

# of REO (foreclosures): 1 (2)

# of Short Sales: 2 (2)

Average # of days on market: 19 (27)

#New Construction:  16

The median price of all homes for sale in Tracy: $479,950 ($504,000)

PENDING STATUS

Number of properties currently under agreement: 128 (119)

# of REO: 0 (2)

# of Pending Short Lender Approval: 6 (16)

# of New Construction:  6

Median pending price: $432,450 ($428,000)

 

SOLD STATUS

Residential property sold over previous 30 days: 78 homes (53)

REO's sold in the last month: 3 (1)

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

Median sale price: $450,000 ($430,000)

# of New Construction:  7

Median # of days on the market:  12 (18)

 

 

Mountain House, CA

 

ACTIVE STATUS

 

Total # of residential properties for sale in the city of Mountain House: 22 (18)

# of REO (foreclosures): 0 (0)

# of Short Sales: 1 (0)

# of New Construction: 3 (0)

Average # of days on market: 13 (11)

The median price of all homes for sale in Mountain House: $614,500 ($610,000)

 

PENDING STATUS

 

Number of properties currently under agreement: 45 (36)

# of REO: 0 (0)

# of Pending Short Lender Approval: 0 (1)

# New Construction: 2

Median pending price: $579,900 ($572,400)

 

SOLD STATUS

 

Residential property sold over previous 30 days: 24 homes (6 homes)

REO's sold in the last month: 0 (0)

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

New Construction sold: 2

Median sale price: $547,500 ($492,750)

Median # of days on the Market: 10  (6)

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

 

HOMES SOLD IN TRACY IN MARCH

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

 

    Address    Beds Baths Sq Ft  List  Sell    DOM
1062   Tulloch Dr 5 3 (2 1) 2857 417000 440000 53
2513   Lotus Way 4 3 (3 0) 3235 585900 585900 165
11627 W Clover Rd 2 1 (1 0) 1176 450000 450000 25
2296   Memory Ln 4 3 (3 0) 3306 589900 566400 154
430   Royal Ct 4 3 (2 1) 1567 319888 335000 7
2106   Pedro Ln 5 4 (4 0) 3089 499950 505000 103
565   Serpa Ranch Rd 3 3 (2 1) 1958 440000 440000 54
2555   Mia Way 4 4 (3 1) 3854 630780 634310 33
4100   Comstock Pl 4 3 (2 1) 2574 588800 579900 106
784   Jesse Martinez Dr   4 3 (3 0) 2071 499000 495000 119
33701 S Bird Rd 3 (4) 2 (2 0) 1765 499000 450000 112
1878   Ponderosa Dr 4 4 (3 1) 2907 549900 549900 89
2209   Yellowstone Ave 4 (6) 3 (3 0) 2888 509500 509500 23
1465   Yorkshire Loop 4 3 (3 0) 2300 459900 460000 60
2910   Alene Ave 3 2 (2 0) 1105 225000 235000 13
181   Kelley Mist Ln 5 (6) 3 (3 0) 2977 515000 510000 77
3973   Summit Dr 4 3 (3 0) 2809 539900 530000 58
755   Oneil Ct 4 (5) 3 (3 0) 2294 475000 466000 61
1002   Windsong Dr   4 3 (3 0) 2603 469900 455000 52
915   Independence Dr 4 2 (2 0) 1953 529500 530000 58
325   Cecelio Way 4 (5) 3 (3 0) 3220 528888 530000 29
28287 S Vincenza Ave 5 4 (3 1) 3590 590000 590000 37
330   Jaeger St 4 3 (3 0) 1859 390000 410000 16
1254   Awahnee Ct 5 4 (4 0) 2902 525713 525713 41
2958   Gomes Dr 4 3 (2 1) 2140 419999 417000 29
3211   Strawberry Pl 3 (4) 3 (2 1) 1934 450000 440000 21
1430   Chester Dr 3 2 (1 1) 1145 315000 326000 8
460   Glenbriar Cir 3 2 (2 0) 1782 445000 445000 7
34678   Brichetto Ct 6 4 (3 1) 3883 810000 774400 31
170   Alum Rock Ct 3 3 (2 1) 2046 430000 434000 8
405   Palm Cir 3 2 (2 0) 1574 400000 400000 23
804   Billy F Freeman Ln 3 2 (2 0) 2093 448000 451000 19
4707   Glenbrook Dr 4 3 (3 0) 2447 425000 446000 6
1150   Kaden Ln 4 4 (3 1) 3168 725000 725000 7
393   Charlemagne Ct 4 3 (2 1) 1629 428000 428000 25
3037   Ormonde St 4 3 (2 1) 1828 399900 403000 8
416   Barcelona Dr.   4 3 (2 1) 2056 455000 457000 12
1451   Birch Dr 3 2 (2 0) 1120 355000 355000 4
88   Regina Dr 3 2 (2 0) 1075 350000 360000 4
1811   Mcpeak Ct 4 2 (2 0) 1422 360000 370000 6
8439   Waterwell Way 4 2 (2 0) 1850 595000 605000 12
1926   Pheasant Run Ct 3 2 (2 0) 1315 375000 380000 5
1640   Valerie Ln 4 3 (2 1) 1567 375000 375000 5
710   Tennis Ln 3 3 (2 1) 1735 410000 410000 19
1921   Thomas Dehaven Ct 4 2 (2 0) 1475 399950 400000 18
524   Ridgeview Ct 3 2 (2 0) 2845 798000 815000 11
217   Granada Way 3 2 (2 0) 1645 375000 381000 23
1205   Doubles Ct 3 2 (2 0) 1576 395000 405000 15
1235   Yorkshire   4 3 (3 0) 2046 425000 436000 6
131   Ramona Way 3 2 (2 0) 1213 330000 345000 6
2424   Verona Ct 3 2 (2 0) 1513 399950 410000 8
152   Victoria St 3 2 (2 0) 1278 375000 385800 13
1462   Whittingham Dr 3 2 (2 0) 1554 425000 430000 8
985   Gotland Ct 3 3 (2 1) 1547 438888 450000 8
180   oak crest   4 3 (2 1) 2126 429000 450000 8
2409   Anita Ct 4 3 (2 1) 3366 729950 735000 5
7808   Stearman Rd 5 3 (3 0) 3298 599000 605000 7
3065   Soto Ct.   4 3 (3 0) 2158 445000 452500 9
1717   Kyle Dayton Dr 3 (4) 3 (2 1) 2111 545000 530000 18
1366   Montauban St 4 (5) 3 (3 0) 3078 569000 581000 6
160   Alum Rock Ct 5 3 (3 0) 2373 465000 467000 12
1641 W Beverly Pl 3 2 (2 0) 1245 350000 350000 0
2938   Frank Brown Ln 5 3 (3 0) 2516 465400 451500 35
529 W 10th St 2 1 (1 0) 757 289950 295000 9
240   Versailles Ct 4 3 (2 1) 1629 399900 415000 2
367   Glenbriar Cir   4 3 (2 1) 2113 449900 452000 9
2965   Ray M Gutierrez   4 3 (3 0) 1800 429888 430000 6
762   Glenpine Ct 3 3 (2 1) 1388 389950 410000 6
955   Bordona Ln 3 3 (2 1) 1361 358000 350000 12
1621   Coupe Pl 3 2 (2 0) 1245 379000 386000 7
4700   Glenbrook Dr 5 3 (3 0) 2836 494900 450000 14
1040   Match Point Pl 4 3 (2 1) 2654 525000 535000 6
2288   Yellowstone Ave 4 3 (2 1) 2237 475000 485000 10
2080   Vallerand Rd 4 3 (2 1) 1898 375000 385000 9
2066   Pedro Ln 3 2 (2 0) 2070 449000 451500 6
840   Kennedy Pl 4 3 (2 1) 2498 469000 475000 4
2924   Alfalfa Ct 4 3 (2 1) 2191 434900 455000 8
1790   Tennis Ln 3 2 (2 0) 1476 415000 415000 5

Does Your Home Compare To Others On The Market

How Does Your Home Compare to Others on the Market?

Real estate agents use comparable sales or "comps" (properties recently sold in the area) to see what the market bears for a listing price or value range marketing.

But what makes a home a good comp? A few things must line up in order for the agent to utilize the comp to justify your listing price. The same neighborhood, school district, similar street and, of course, similar housing features and size. If these things align, then a comp can be used to provide a current estimated value of your home.

Ideally, using a comp from a home that is the same model in the same subdivision is key. Even better is if a sold comp closed escrow very recently. Taking comps from many weeks or months before can weaken the comp.

The expertise of a highly knowledgeable real estate agent can save you many hours of research and headaches. Most people don't really know how to compare real estate properties, which is why they hire an agent. Good agents take the work out of selling your home and give you solid reason to understand why the agent is pricing the home at a particular price.

Location, upgrades, amenities, sale date, extras, foreclosures, short sales, and unique nuances of the home all affect the listing price and how your home is compared to a comp.

Taking a closer look at each of these shows exactly what people in your area might be looking for when it comes to buying a home. For instance, a higher price on a home that has a pool can indicate that this is a family neighborhood and buyers put an increased value on amenities that create family/social fun. Your home may not have a pool but it might have another type of amenity: tennis courts, gym, or putting green.

Agents look at both what is similar and what makes your home stand out. They search for the best characteristics to showcase and, when comparing your home to others that have sold, they look to see how yours stacks up from a buyer's perspective.

Agents can add value to a home that might not have, say, for instance, the pool. Instead, your home might have an extra bedroom or den complete with floor-to-ceiling, high-quality bookcases.

Reviewing the comps can provide a lot of insight about sales in your neighborhood. Physically viewing the properties can be even more eye-opening. Agents who routinely work in the neighborhood may have an excellent grasp of which homes will sell fastest. It's not a lucky guess.

They've been inside these homes and have seen the notable upgrades or the tragic flaws of a home. They also know which homes were foreclosures or short sales. Generally, a foreclosed home is in poor condition. However, a short sale can be in much better condition. Both of these sales are at discounted rates. So, if a comp is used from one of these types of sales, your agent will take careful consideration to evaluate the distinct differences that may increase the value and, ultimately, the listing price on your home. 


Written by Realty Times Staff

Strategies To Win Sellers Over

5 Smart Value Strategies to Win Sellers Over

Buyers who fixate on purchase price and mortgage size often overlook opportunities to save money on both.

Usually, the lower the purchase price, the smaller the mortgage a buyer must borrow. We're not suggesting that buyers buy less or resort to trickery or pressure to arrive at an attractive lower purchase price. Nor, are we suggesting a price chopped by tens of thousands. Instead, by adding value to the components of an offer, a lower purchase price may be acceptable to the seller.

Market value is not one price, but is represented by a price range. This means a property can sell at market value at any price across this range, especially when the offer is taken as a sum total of value for the seller, not just at its stated price.

By thinking ahead and being prepared, buyers can significantly improve their bargaining position with sellers. Here are five smart value strategies to ensure the entire offer to purchase has value to the seller beyond the purchase price.

5 Smart Value Strategies to Win Sellers Over

#1 Match Seller Closing Date

Prepare for home buying by becoming as flexible as possible about when the transaction closes. If you offer to match the seller's best closing date, you may be saving them from incurring significant cost. Even the difference between popular moving dates and lower-fee moving dates can represent value for sellers. This savings may be reflected in a lower selling price.

Check out your lease options if you're a tenant, so you know exactly how much it will cost you to close in 30 days, 6 months, or whenever suits seller needs. If you have a home to sell, consult your real estate salesperson to determine whether to sell or buy first. If the latter makes more sense in your market, get numbers on bridge financing, that is, the cost of owning two homes at once, so you know, in advance, exactly how much closing-date flexibility you have and what's at risk. Obviously, if family or friends can help with temporary housing, furniture storage, and/or financing, you may have an advantage over other buyers.

#2 No Conditions

When faced with the immediate equivalent to cash—a firm, no-conditions offer to purchase$mdash;a seller may be tempted to accept a lower purchase price than if the offer is full of "ifs" and "maybes." Conditions for financing, home inspection, and other significant concerns beyond buyer's control cannot always prudently be removed, but when they can, buyers benefit. Paying for a home inspection before making an offer or arranging lender commitment in advance can provide a buyer with bargaining leverage.

#3 Don't Ask for More

Avoid including appliances, light fixtures, furniture, or other items not automatically and legally considered part of the house, townhome, or condominium. Since appliances no longer last the decades they used to, its crazy to purchase them, or any other furnishings, second-hand through your offer. By including them in the purchase price, buyers may end up paying mortgage interest on these furnishings for decades. On the other hand, selling used appliances and furnishings online is easy for sellers who end up with cash in hand.

#4 Personalize the Offer

Sellers who love their home see value in buyers who "get" the property and who may even plan to realize a dream sellers had, but did not complete. Providing details in a letter, short video, or photos about why purchasing the seller's home is important can also add weight to your offer. Personalize the offer and emphasize why buyers can and will close as promised. Sometimes, sellers can be won over by offering something of value to them that is uniquely available to the buyer. For instance, one experienced restauranteur/buyer offered to cook and serve at a dinner party hosted by the seller. Your real estate professional may have suggestions about what would sway sellers and add value without overly complicating the real estate transaction. Which service, experience, or convenience do you have access to that would represent value and savings to a seller?

#5 Negotiation Prowess

Market value is represented by a price range, which means a property can sell at market value, and be sold at any price across this range. Further, when the offer is taken as a sum total of value for the seller, emphasis is taken off the purchase price. Explaining these concepts, calculating full offer value, and convincing the seller of the unique opportunity provided by the buyer employs the skills of the real estate professional representing the buyer. Take time to engage a strong professional negotiator who can convince sellers how the buyer's lower purchase price represents full value to the seller.

Prepare, in advance, to present multi-pronged value in your offer to purchase, and you may benefit with an accepted offer and perhaps a smaller mortgage which carries lower overall mortgage interest cost. 

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