Tuesday, October 30, 2007

Tracy Real Estate Market Report: October 30th 2007

The following information is from the local MLS database, as of October 30th 2007, compared to (October 11, 2007).





"happy Halloween!"




ACTIVE Status:
Total # of Residential properties for sale in the city of Tracy: 918 (920)
Average # of days on market: 81 (77).

The Median price of all Homes for sale in Tracy: $439,444 ($449,990)
The Average price of all Homes for sale in Tracy: $472,203 ($482,886)

PENDING Status:
Number of properties currently under agreement: 75 (66)
Average pending price: $408,775 ($422,579)

Avr. pending home is 4bd, 2.5ba, 2093 sq.ft at a price of and 74 days on the market and 73 days on market.)

SOLD Status:
Residential property sold over previous 30 days: 35 transactions or $14,881,199
in sales. (30 transactions, $13,184,594)

Average sale price: $425,177
Median sale price: $419,900

High: 749K (5/4bd 3485 sq.ft home).
Low: 220K (1122 sq.ft home)

Summery:
The market is slow but there is a steady pick up in sales. Housing inventory is staying about the same, in the low 900s. There is a steady increase in the amount of homes sold. Another interesting point is the number of pending homes (75). This is an indication that we should see a increase in the number of homes sold next month. There are more sales as homes become more affordable. Another indication of a market pick-up is that vacant properties in Tracy are down to 383.




Go here to Sign-up for full access to MLS (including addresses and complete descriptions)Based on information provided to and compiled by MetroList MLS Prospector.




Good Real Estate Reading:
Is it Time to Move to the Suburbs? By David Hochman (mens.style.com)
Bay Area rents jump, especially in S.F. and San Jose (sfgate.com)
HR 3915: Mortgage Reform and Anti-Predatory Lending Act of 2007 By: Brian Brady (bloodhoundrealty.com)
10 Tips For Buying a Home Pets Will Love By Elizabeth Weintraub, (about.com)




Cool Website to Bookmark:









RottenNeighor.com According to the website:


We are the first real estate search engine of its kind that helps you find bad
neighbors before you move so you don't regret the purchase of your new house,
home, condo or apartment


Previous Tracy California Market Reports:

Posted by at 10:40 AM 1 comments Links to this post

Sunday, October 28, 2007

They took it down.


This is an update on my previous post please read........

OMGLOL Someone stole my blog content.

What happened was I was doing a search for my name on Google when I found my blogs contents plastered all over someone Else's page. Worse then that she was beating me in ranking! At first I was pretty mad. Even wrote her an email with the title "stealing". The next day I gave her a call.

She had no idea. I gave her the URL over the phone and she was just as shocked as I was. I knew it was some kind of mistake. Apparently the designer of the website did it. Someone associated with the web designer called me to let me know there was some kind of technical mistake, I did not really get what, but my content ended up on her blog somehow and her blog was erased.
So I'm glad, it was all a big mistake and she was more then happy to take it right down. If I ever know anyone selling a home in Beverly Hills, 90210, I will be sure to call Cheryl-Lynne McInnes at Prudential CA Realty.
Of course if there are any buyers out there who are looking in Beverly Hills area, I would be happy to fly down there to represent you!!!!! :)
So I just laughed about it......

"did I do that?"






800.894.7282



Made by Brian W. Barringer in 2006 for
http://www.tracyhomes.com/ and http://www.tracyrealestate.blogspot.com/
Posted by at 1:55 PM 2 comments Links to this post

Wednesday, October 24, 2007

OMGLOL Someone stole my blog content.

I was doing a search for myself(which you should do every once and awhile just to see whats what) when I found this website:
This is a website that belongs to Cheryl-Lynne McInnes at Prudential CA Realty. She sells homes in Beverly hills! Million dollar homes! She(or someone) just directly took my blog posts and put them on this site.

Who ever is running this website just put my content up word-for-word and just changed the picture. I have already requested her to take it down via email.

This is just so wrong on so many levels.



What should I do?

She could use my blog, she just needs to pay me first!







Posted by at 5:23 PM 0 comments Links to this post

Tuesday, October 23, 2007

CountryWide to Refinance $10 Billion & modify another $4 billion

Just in time for the peak of sub-prime adjustment. Something had to give..........

Countrywide to Refinance $16 Billion in ARMs
Jonathan Stempel (10/23/07) Realtor.org



Countrywide Financial Corp., the nation’s largest mortgage lender, is offering
to refinance up to $16 billion of adjustable-rate mortgages.

The lender
announced the program today as pressure mounts from legislative and consumer
groups to clean up lending practices.

Countrywide said it would reach out to borrowers who are current on their loans but are facing an imminent rate reset to discuss options. Countrywide said it would refinance about $10 billion in loans and modify another $4 billion. It also plans to contact borrowers of some $2.2 billion who are late on their loans and are having trouble paying because of a recent rate reset.

"Unprecedented times call for unprecedented remedies," Chief Operating Officer David Sambol said in a statement. "We are determined to assist borrowers who have the willingness and wherewithal to remain in their homes, but need a little help."

Tidbits:

Sub-prime loans make up 20 percent of home loans issued last year and about 11 percent in the first half of this year, according to Inside Mortgage Finance, an industry newsletter.

Seattle-based WaMu promised $2 billion in April to refinance subprime.

About 100,000 U.S. subprime mortgages per month will reset to higher rates for the first time during the next two years, according to analysts at UBS AG.



And the question is, Will this help?
I hope so.




Related news:
Refinance Up to $16 Billion of Loans (Update7)
The bloomburg report
Posted by at 3:32 PM 0 comments Links to this post

Monday, October 22, 2007

Woolly Mammoth Bones found in Downtown Stockton!

From the Stockton Record:

STOCKTON - A construction crew working on the base of the new county administration building in downtown Stockton uncovered the bones of what is likely a creature that roamed across California thousands of years ago - a woolly mammoth.
The bones, which included a 31/2-foot-long femur bone and other pieces roughly comprising the hind part of a large mammal, were discovered Wednesday buried about 65 feet under the corner of San Joaquin Street and Weber Avenue...........

Read the full article here............ Prehistoric find in downtown Stockton By Anna Kaplan.


Some interesting thoughts:

This might be the first time for Stockton, but Pattersons Del Porto canyon has been a popular place to find fossils for years. The first dinosaur bones found in California were found in Del Puerto Canyon. In fact, there is a spot right off of Del Porto Canyon Rd. right along the side of the road, just a couple miles up the mountain. You will notice a nice big area with broken rock, where you can pull off to the side of the road and look for fossils. If you split the rocks open you can find fossil imprints of leaves and sometimes fish scales, but mostly just leaves. The local schools have been taking kids there for years...........

Fossil hunter sifts through the years
By Matthew Barrows
(Published June 8, 2000)

Allan Bennison had always been more interested in bugs than basketball. As a boy, he collected moths and butterflies, learned the names of trees and could identify birds on sight."Eccentric? There was nobody else out there collecting rocks," says Norman Bennison, 83, Allan's older brother. "By the time Allan got out of grammar school, he probably knew as much as the graduate students. So it was no surprise to the Bennisons when Allan rode off on a 90-degree day in 1936 in search of fossilized snails with only a cheese sandwich and some warm tomato juice in his bike basket to keep him going..........


Bennison's bones turned out to be the vertebrae and hindquarters of a hadrosaur, a two-stories-tall duck billed dinosaur that gathered in massive herds more than 65 million years ago..............

Read the complete article here............ (scroll down, its about half way down the page)

<---------A Hadrosaur (AKA the duck-billed dinosaurs or Saurolophus.)

This guy was a dinosaur freak, found in Wikipedia: The type species, P. bennisoni, was named for Allan Bennison, a fossil hunter who discovered the first remains in 1937.(A year previously, Bennison had also discovered the state's first dinosaur, Saurolophus.)

Brian Barringer




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Sunday, October 21, 2007

NPR Radio: The Subprime Mop-Up

I am a month late with this news, but its still a great insite into what is currently going on with the sub-prime mortgage market. This is a nationally syndicated talkshow radio program on NPR called OnPointRadio.org. The program is about 1 hour long.

Listen Here:

By host Tom Ashbrook:
If you thought the subprime mortgage mess was behind us, think again. In the next year, another two million adjustable-rate mortgages are scheduled to reset from low "teaser" rates to household budget-busting new highs.Foreclosure rates are already soaring. In some regions, whole neighborhoods risk going under. A credit crunch backlash has markets around the world in turmoil. Now Washington is girding to weigh in. But who, if anyone, should be bailed out? Who punished? Who reined in?This hour On Point: homes, high-rollers, and moral hazards in the subprime mop-up.


·
Guests:

Rep. Barney Frank, Democrat from Massachusetts, chairman of the House Financial Services Committee
·
Karl Case, professor of economics at Wellesley College and co-author, with Yale's Robert Shiller, of the Case-Shiller Index, the leading database of U.S. housing sales
·
Michael Mussa, former chief economist at the International Monetary Fund and former member of President Ronald Reagan's Council of Economic Advisers
·
Michael G. Ciaravino, Mayor of Maple Heights, Ohio, a city hit hard by foreclosures Bob Hagerty, Wall Street Journal reporter




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Thursday, October 11, 2007

How is the Real Estate market doing?

What I have come to understand is the post-boom real estate market in the central valley is full of micro markets. In Real Estate a good example of a micro market could be a subdivision. Some subdivisions are holding there values while others are not. For the most part the real estate market in Tracy is all tied together, but when you look deeper and more closely you will see that there are micro-markets in our local market.
Why is this? there are many variables:
  • HOA's
  • Owner occupants vs. renters
  • Builder
  • Crime
  • LOCATION

So how is the market? What most homeowners really want to know is, how is MY market? And that really depends on where you live. One of the most valuable things I can do for you as a real estate consultant is to help you understand your market, I can do this by updating you with statistics on exactly what is going on in YOUR micro-market.

Would you like up-to-the-minute market information on your home, via email, for free.
  • Who is selling in your market.
  • How much they are selling for.
  • List price vs. sales price
  • Days on market.
  • What they sold for and how much.
  • Much more details and information.
You can be the first in your neighborhood to know. This is important information, is it not?

Also all data will be saved on your own personal dashboard where you can make notes and modify listings as you like. This is a free service. All that is required is the minimum information:


1) Name
2) Address
3) E-mail address to send info.

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Real Estate Market Report: October 11th 2007

The following information is from the local MLS database, as of October 11th 2007(data from September 27th, 2007):



(ACTIVES) Total # of Residential properties for sale in the city of Tracy: 920 (966)
Average # of days on market: 77 (78).
The Median price of all Homes for sale in Tracy: 449,990 (459,900).
The Average price of all Homes for sale in Tracy: 482,886 ($487,746)

(PENDING) Number of properties currently under agreement: 66 (58)

Avr. pending home is 4bd, 2.5ba, 2093 sq.ft at a price of $422,579 and 73 days on market.

(SOLD) Residential property sold over previous 30 days: 30 transactions or $13,184,594 in total sales. (26 transactions, $10,908,570)

High: 547K (5/4bd 3089 sq.ft home). Low: 271K (3bd/1ba 936 sq.ft home)


Summery: Looks like the market is picking up. We have more closings and more solds then last month. Showings for Our Listings have increased 50% over last month, This is a strong indication that buyer confidence is up. We are still in a downward price adjustment as far as the average price gos. Our website activity is also spiked, this is an indication that buyers are looking again (80% of buyers use the Internet, and and the average Internet users start looking six months prior to buying a home.) The good news is values are holding better. We still have a glut of foreclosure inventory.
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Previous Tracy california Market Reports:

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Real Estate (industry) News/blogs I am reading:



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