Real Estate Market Report for January 31st 2008
1 Comments Published by Brian W. Barringer on Thursday, January 31, 2008 at 12:52 PM.ACTIVE Status:
Total # of Residential properties for sale in the city of Tracy: 902 (902)
# of REO (foreclosures): 328 313
# of Short Sales: 221 200
Average # of days on market: 88 91
The Median price of all Homes for sale in Tracy: $369,975 $380,000
The Average price of all Homes for sale in Tracy: $398,734 $406,552
Lowest priced home: 1bd/1.00ba/502 sq.ft/$119,000
Highest priced home: 7bd/6ba/6500 sq.ft/$1,699,000
PENDING Status:
Number of properties currently under agreement: 111 104
# of REO: 76 69
# of Short Sales: 12 16
Average pending price: $386,227 ($408,632) (($408,775))
Avr. pending home is 4bd, 3ba, 2238 sq.ft at a price $396,450 and 64 days on the market.
SOLD Status:
Residential property sold over previous 30 days: 46 Transactions or $16,666,252 in sales. (35 transactions or $16,107,700 in sales.)
REO's Sold in last month: 33
Average sale price: $362,310 $395, 159
Median sale price: $356,557 $362,500
High: 599K (5/5bd 3882 sq.ft home).
Low: 150K (440 sq.ft home)

A close look at a good little investment in Stockton, Ca for $89,900
0 Comments Published by Brian W. Barringer on Wednesday, January 23, 2008 at 3:52 PM.
This bank owned home just had a price reduction. Located in North Stockton near Wilson Way.
Details: 2 bd 1 ba
1031 sq.ft
0.110 acre lot
Built in 1943
Financing thoughts:
Based on current interest rates:
30-Year Mortgage
5.31
| Purchase price | |||||
| Down Payment | 10 | % | 8,900 | ||
| Loan Amount | $80,100 | ||||
| Interest Only | $354.44 | ||||
| Private Mortgage insurance | $34.71 | ||||
| Estimated Taxes+ Mello Roos (if applicable) | 92.71 | ||||
| Estimated Insurance | 13.35 | ||||
| Total PITI | $495.21 | ||||
So with $9,000 down you could own this place for about $500.00 a month. But wait, what about closing costs? In this market we ask the seller to pay them in our offer. Below is an estimate of what closing costs might be in this transaction:
| Points | 890.00 | ||||
| Appraisal Fee | 300.00 | ||||
| Credit Report | 16.00 | ||||
| Doc Prep/Processing | 750.00 | ||||
| CLTA Title Ins | 50 | % | Buyer | 650.00 | |
| Recording | 100.00 | ||||
| Tax Service, Flood Service, Wire | 140.00 | ||||
| Escrow Fee | 50 | % | Buyer | 187.00 | |
| ALTA | 100 | % | Buyer | 295.85 | |
| Prorated Interest | 15 | days | 194.22 | ||
| Home and/or Roof Inspection, Home Warranty (optional) | 360.00 | ||||
| Estimated Insurance (1 yr policy) | 400.00 | ||||
| Down payment | 0.00 | ||||
| TOTAL DOWN + CLOSING COSTS | $4,283.07 | ||||
But how much would this investment rent for?
Craigslist.com will have up to the minute current rent rates posted by actual landloards.. I got a few rental comps:
Jan 13 - $850 / 2br - house for rent (stockton)
Jan 18 - $1000 / 2br - 2 Bd/1 Ba One Block From Miracle Mile!!! (Stockton )
Jan 22 - $1050 / 2br - Charming Spanish-style home for rent (Victory Park)
I could not find too many good examples but lets say you can rent the home for more then a condo. I would say try for $950 and go down if you dont rent it out to $850. Shouldn't go for any lower with condos usually $650-$800.
Final Thoughts:
At the end of the year considering $850 for problems and rent loss, $600 for maintainace you will be $3,350 a head of the game. Pretty good to cash flow in California. You will have your down payment back in three years. Take the profit from the rental to pay down the mortgage then sell when the market is UP!
Budget For Year 1:PITI -$6000.00
Landscaping -$600.00
Rent Loss -$850.00
Rent $10,800.00
Total Positive Cash at the end of the year is $3,350. Taking into consideration $850 for problems and $600 for landscaping upkeep.
With warm regards,BrianBrian W. BarringerYour Personal Real Estate consultant for LifeBrian@tracyhomes.com
A documentary worth watching....
1 Comments Published by Brian W. Barringer on Sunday, January 20, 2008 at 8:07 AM.And this absolutly has nothing to do with REAL ESTATE.
21 UP America
Super Rare Tracy Golf and Country Club Home!
0 Comments Published by Brian W. Barringer on Thursday, January 17, 2008 at 9:05 PM.
Wow, I have never seen one of these on the market! In fact, the last recorded MLS sale of a Tracy Golf and Country Club home was about three years ago. This home backs up to an 18-hole regulation length golf course just outside of town, at the base of the Altamont hills. On the course there are about 20 luxury homes that face the golf course and this is one of them. It will most likely be a long time before you see one of these for sale again. This is a good buy because its so unique.I would guess these places usually are sold by word-of-mouth.
Picture of the course from the website:
Map: 
Interested. Give me a call I would be happy to arrange a showing and represent your best interests!
Brian Barringer
209-613-8945
I am not an agent for the seller. This home is listed on the MLS by Curran R.E./GMAC
Tags:
Tracy Golf and Country Club, golf, Altamont hills, luxury homes, Real Estate, For Sale
Tracy, ca Market Report for January 14th, 2008
0 Comments Published by Brian W. Barringer on Monday, January 14, 2008 at 11:15 AM.Below is pie chart indicating the total number of active, pending and homes that have sold in the last month only:
ACTIVE Status:
Total # of Residential properties for sale in the city of Tracy: 879 (902) ((918))
# of REO (foreclosures): 313
# of Short Sales: 200
Average # of days on market: 89 (90) ((81))
The Median price of all Homes for sale in Tracy: $380,000 ($399,999) (($419,444))
The Average price of all Homes for sale in Tracy: $406,552 ($423,925) (($445,886))
Lowest priced home: 1bd/1.00ba/502 sq.ft/$119,000
Highest priced home: 7bd/6ba/6500 sq.ft/$1,699,000
PENDING Status:
Number of properties currently under agreement: 104 (89) ((75))
# of REO: 69
# of Short Sales: 16
Average pending price: $386,227 ($408,632) (($408,775))
Avr. pending home is 4bd, 3ba, 2238 sq.ft at a price $396,450 and 64 days on the market.
SOLD Status:
Residential property sold over previous 30 days: 32 transactions or $12,642,103 in sales.
(35 transactions or $16,107,700 in sales.)
((35 transactions, $14,881,199))
Average sale price: $395, 159 ($417,443) (($425,177))
Median sale price: $362,500 ($399,000) (($419,900))
High: 649K (5/5bd 3899 sq.ft home).
Low: 248K (1047 sq.ft home)
The defender of real estate values
A closer look into the 104 homes under contract in Tracy
0 Comments Published by Brian W. Barringer on Saturday, January 12, 2008 at 11:31 AM.69 are REO(foreclosure) homes
16 Short Sales(pre-foreclosures)
5 builder owned
1 relocation company owned
13 regular sales(give or take)
What dose it take to sell a home in this market, right now?
No bottom line......
Here is a breakdown of all REO homes listed in Tracy:
64 homes in the $0-$300,000 range
87 homes from $300,000-$350,000 range
72 homes from $350,000-$400,000 range
70 homes from $400,000-$500,000 range
21 homes from $500,000- on up.......
Here is a breakdown of all NON-REO homes active listed in Tracy:
51 homes in the $0-$300,000 range
99 homes from $300,000-$400,000 range
98 homes from $400,000-$500,000 range
56 homes from $500,000-$600,000 range
56 homes from $600,000- on up......
Would you like to be updated via email about REO properties as they hit the market?
email me, I can put you on the database.
Brian Barringer
800.894.7282
Market Report for Lathrop, Ca as of January 11th, 2008
0 Comments Published by Brian W. Barringer on Friday, January 11, 2008 at 10:43 AM.The following information is from the local MLS database, as of January 11, 2008.
ACTIVE Status:
Total # of Residential properties for sale: 263
Average # of days on market: 94
The Median price of all Homes for sale: $340,000
The Average price of all Homes for sale: $261,063
Lowest priced home: 2bd/2ba/923 sq.ft /$169,900
Highest priced home: 6bd/5ba/3,900 sq.ft/$650,800
PENDING Status:
Number of properties currently under agreement: 21
Average pending price: $381,562
Avr. pending home is 4bd, 3ba, 2200 sq.ft at a price and 85 days on the market.
SOLD Status(for previous 30 days):
Residential property sold over previous 30 days: 6 units or $1,878,900 in sales volume.
Average sale price: $318,100
High: $$465,000(6bd/4ba 3400 sq.ft home).
Low: $220,000 (3bd/2ba 1372 sq.ft home)
Summery: There are still at least 4 or 5 builders still competing for buyers in this small boom town of 10,000 people. Its hard to tell what all of the builders out there are doing because some post there sales to the MLS, some don't. I am guessing that the builders do have more sales then what is repersented. The majority of all homes pending and sold are Bank owned properties. These sellers are the only ones who can compete on the same cooperate level some builders such as KB and Pulte.
Its like a heavy weight boxing match. BANKS vs. BUILDERS, with good odds on the bank!
Brian

A Market Report Weston Ranch, Stockton for January 11th, 2008
0 Comments Published by Brian W. Barringer on at 9:49 AM.The following information is from the local MLS database, as of January 11, 2008.
ACTIVE Status:
Total # of Residential properties for sale in Weston Ranch: 331
Average # of days on market: 86
The Median price of all Homes for sale: $275,000
The Average price of all Homes for sale: $291,431
Lowest priced home: 3bd/2ba/1,023 sq.ft /$179,900
Highest priced home: 6bd/4ba/3,376/$519,800
PENDING Status:
Number of properties currently under agreement: 43
Average pending price: $243,562
Avr. pending home is 4bd, 3ba, 1908 sq.ft at a price $239,000 and 36 days on the market.
SOLD Status:
Residential property sold over previous 30 days: 10 units or $2,401,000 in sales volume.
Average sale price: $240,100
Median sale price: $241,500
High: $270,000 (4bd/3ba 2300 sq.ft home).
Low: $259,000 (2bd/2ba 1372 sq.ft home)
Summery: There is actually more pending activity then I expected to see. Since this is the first report on Weston Ranch its hard to analyze the numbers without looking at past reports. The average sold price($240,000) which is similar to the avr. pending($243,000) is $60,000 lower than the average price of a home active on the market($291,000) which suggests that prices are still a little high for buyers and that sellers of homes in this area are still hopeful of higher prices..... I must also type that 40 pendings compared to 10 sold is positive.
30 Year Mortgages: How Much Will You Pay???
0 Comments Published by Brian W. Barringer on Tuesday, January 08, 2008 at 12:43 PM.If you would like a more concrete idea of what your monthly payments would be on a 30 year mortgage or any loan feel free to contact me. ~Alex
Alex Alvarez
http://www.tracyhomeloans.com/
Branch Manager/ Mortgage Banker
Construction Mortgage Specialist
National City Mortgage, a division of National City Bank
(209) 839-2880 Office
(800) 399-1820 24 Hr Service
Alex.Alvarez@ncmc.com
Payments for Loan Amount versus Interest Rates
| 30 year | $150,000 | $170,000 | $190,000 | $210,000 | $230,000 |
| 5.875% | $887 | $1,006 | $1,124 | $1,242 | $1,361 |
| 6.000% | $899 | $1,019 | $1,139 | $1,259 | $1,379 |
| 6.125% | $911 | $1,033 | $1,154 | $1,276 | $1,398 |
| 6.250% | $924 | $1,047 | $1,170 | $1,293 | $1,416 |
| 6.375% | $936 | $1,061 | $1,185 | $1,310 | $1,435 |
| 6.500% | $948 | $1,075 | $1,201 | $1,327 | $1,454 |
| 6.625% | $960 | $1,089 | $1,217 | $1,345 | $1,473 |
| 6.750% | $973 | $1,103 | $1,232 | $1,362 | $1,492 |
| 6.875% | $985 | $1,117 | $1,248 | $1,380 | $1,511 |
| 7.000% | $998 | $1,131 | $1,264 | $1,397 | $1,530 |
| 7.125% | $1,011 | $1,145 | $1,280 | $1,415 | $1,550 |
| 7.250% | $1,023 | $1,160 | $1,296 | $1,433 | $1,569 |
| 7.375% | $1,036 | $1,174 | $1,312 | $1,450 | $1,589 |
| 7.500% | $1,049 | $1,189 | $1,329 | $1,468 | $1,608 |
| 7.625% | $1,062 | $1,203 | $1,345 | $1,486 | $1,628 |
| 7.750% | $1,075 | $1,218 | $1,361 | $1,504 | $1,648 |
| 7.875% | $1,088 | $1,233 | $1,378 | $1,523 | $1,668 |
| 8.000% | $1,101 | $1,247 | $1,394 | $1,541 | $1,688 |
| 30 year | $250,000 | $270,000 | $290,000 | $310,000 | $330,000 |
| 5.875% | $1,479 | $1,597 | $1,715 | $1,834 | $1,952 |
| 6.000% | $1,499 | $1,619 | $1,739 | $1,859 | $1,979 |
| 6.125% | $1,519 | $1,641 | $1,762 | $1,884 | $2,005 |
| 6.250% | $1,539 | $1,662 | $1,786 | $1,909 | $2,032 |
| 6.375% | $1,560 | $1,684 | $1,809 | $1,934 | $2,059 |
| 6.500% |


