Archive for March, 2010

How do I know if I qualify for a Loan Modification?

You may qualify for a Loan Modification if………

You are the owner occupant of a one to four unit home,

The loan on your property is owned or securitized by Fannie Mae or Freddie Mac (Don’t know? See below),

At the time you apply, you are current on your mortgage payments (current means that you haven’t been more than 30-days late on your mortgage payment in the last 12 months or, if you have had the loan for less than 12 months, you have never missed a payment),

You believe that the amount you owe on your first mortgage is about the same or slightly less than the current value of your house,

You have income sufficient to support the new mortgage payments, and

The refinance improves the long term affordability or stability of your loan.

For more detailed information about loan modification requirements click here.

Market View for Tracy

Avg. Listing Price $302,839 Wk ending Mar 10
-$2,738 0.9% median Sales Price $234,000 Dec ’09 – Feb ’10
+$1,000 +0.4% y-o-y
$218,163
+21.6%
$302,719
+20.4%
$266,240
-19.5%
$207,923
-15.4%
$190,183
+8.5%

David’s Real Estate & Dinner Blog

David Ormonde’s Real Estate and Dinner Blog for the Central Valley and Tracy

Tracy area real estate market snapshot

 Contrary to popular beleif, the average price per square foot for Tracy CA dropped – Currently at $119, a decrease of 1.7% compared to the same period last year. The median sales price for homes in Tracy CA for Dec 09 to Feb 10 was $234,000 based on 630 home sales. Compared to the same period one year ago, the median home sales price increased 0.4%, or $1,000, and the number of home sales decreased 27.5%. There are approximately 286 resale and new homes in Tracy, including 1,095 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Tracy CA was $302,839 for the week ending Mar 10, which represents a decrease of 0.9%, or $2,738, compared to the prior week. Here is what that looks like graphically according to Trulia: Market View for Tracy Avg. Listing Price $302,839 Wk ending Mar 10 -$2,738 0.9% median Sales Price $234,000 Dec ’09 – Feb ’10 +$1,000 +0.4% y-o-y 286 Homes For Sale 0 Open Homes 1,684 Recently Sold 1,095 Foreclosures Market Trends for Tracy Average Listing Price $302,839 -0.9% Median Sales Price $234,000 +0.4% Average price/sqft $119 -1.7% Number of Sales 630 -27.5% y-o-y More Tracy Market Trends Home Prices for San Joaquin County Info //

Listing price – Tracy

google map tile

Most popular zip codes Avg. listing price Week ending Mar 10 95391 $343,826 -1.7% 95376 $222,713 +0.9% 95206 $137,182 +0

.5% 95377 $297,510 -1.6% 95219 $342,370 -1.3% 95205 $218,163 +21.6% 95212 $302,719 +20.4% 95202 $266,240 -19.5% 95215 $207,923 -15.4% 95204 $190,183 +8.5%

How are property values doing in the Tracy/Central Valley area?

David Ormonde’s Real Estate and Dinner Blog for the Central Valley and Tracy

Contrary to popular beleif, the average price per square foot for Tracy CA dropped - Currently at $119, a decrease of 1.7% compared to the same period last year. The median sales price for homes in Tracy CA for Dec 09 to Feb 10 was $234,000 based on 630 home sales. Compared to the same period one year ago, the median home sales price increased 0.4%, or $1,000, and the number of home sales decreased 27.5%.

There are approximately 286 resale and new homes in Tracy, including 1,095 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Tracy CA was $302,839 for the week ending Mar 10, which represents a decrease of 0.9%, or $2,738, compared to the prior week.

Here is what that looks like graphically according to Trulia:

Market View for Tracy

Avg. Listing Price $302,839 Wk ending Mar 10
-$2,738 0.9% median Sales Price $234,000 Dec ’09 – Feb ’10
+$1,000 +0.4% y-o-y
$218,163
+21.6%
$302,719
+20.4%
$266,240
-19.5%
$207,923
-15.4%
$190,183
+8.5%
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How to prepare a home for sale in the Tracy/Mountain House area of California.

The real estate and dinner blog

How to prepare a home for sale in the Tracy/Mountain House area of California.

Preparing a home for sale is always tricky and there are lots of lists you can follow, most of which make sense when you stop and think about it.  Making sure the laundry is put away, cleaning the kitchen, packing up the garage, etc.  Those are the obvious things, but what about the obvious and the things specific to your area. 

If you live in Tracy or Mountain House we all complain about the wind, but we get so accustomed to it we never think about how that might affect the sale of our house.  Although you can’t change it and you certainly would not want to lie about it, the fact is you can do things to mitigate the issue by saying things like, ” the wind in this area keeps us cooler in the summer and helps to clear out any air pollution”.   In addition, think about the following when preparing your home for sale in the Tracy/Mountain House area. 

  • During the summer months landscaping tends to really dry up and turn brown.  Pay attention to this change and add extra watering cycles or times if allowed. 
  • The wind can really stir things up in the spring and summer months.  Take extra care to be sure landscapes are free of debris from the wind.  A prospective buyer does not want to see debris all over the yard, even in the wind. 
  • Some parts of the Tracy area have really hard water.  Be sure to point out the fact that you have water treatment or softeners.  Use this as a selling point instead of a negative. 
  • Some homes in and around Tracy may experience extra noise from the wind, farming, or freeways.  Use simple decorative water fountains, chimes, and/or music when showing to mitigate the sounds.  You can’t hide the sounds, but you can show that simple tricks will create a quite and serene environment even if the outside is noisy. 
  • Above all, be sure to always keep it neat and clean during showing.  Take a tour of your home before showing it to see how each room really looks.  If a room looks dingy or boring, sometimes all it takes is a little splash of color to brighten it up.  Try to think like a buyer and everything will make sense. 

 

Now is the time of year to get the most delicious wild mustard greens from just about anywhere around the Central Valley.  Look for the yellow flowers just after a heavy rain for the best taste and results. 

Now for dinner           Try picking some fresh mustard greens this time of year just after a rain before the crowns turn to yellow flowers.  The are delicious and better tasting than broccoli.   Here is a recipe for you to use after picking your fresh mustard greens. 

Pick just the crown and surrounding leaves for the best taste. If possible, get the crown before it turns into a yellow flower.

The Real Estate and Dinner Blog

The governments Tax Credit Boosts local Central Valley real estate market
The rest of country may not be realizing great benefits from the tax credits, but the Central Valley of California may be a winner, especially Tracy, California.   According to the following trend lines from Metrolist show strong numbers as we get to the end of the tax credit period.

Prices have stabilized and are continuing to gain confidence with home buyers and investors.

The bright spot in the San Joaquin County market is Tracy, where the trend is very stable and seasonally adjusted sales numbers and prices seem to be continuing to strengthen.

Here is  how the home buyer tax credit is helping our national economy. Have a look: http://realtytimes.com/rtpages/20100128_taxcred.htm