Sales activity for the Lodi and Stockton CA area have been down the last couple of months.  Was it due to the bad weather?  No, it wasn’t that bad.  Was it due to no incentives to purchase?  No, we still have the extended $8,000 tax credit for first-time home buyers.

So, what’s the real reason for the lack of sales going on right now in the San Joaquin Valley?  Are people still afraid of falling home prices?  Could it be the inventory of homes that the banks are holding on to after foreclosure?

I’d like to hear from you out there…the public.  What are YOUR thoughts on this and what do you think it will look like in th upcoming months?

Here are the stats for the San Joaquin County, CA…

Les Misérables

School Edition

On Saturday night I had the pleasure of taking my family to the Saint Mary’s High School Theatre Dept’s rendition of the play, Les Misérables.  It was performed at the San Joaquin Delta College’s Tilly Lewis Theatre in Stockton, CA.

I must say that I haven’t attended very many plays other than the ones that my own children were in while in grade school.  I got a glimpse on Saturday of what I’ve been missing out on.  I really, I mean REALLY enjoyed the performance very much.  And I look forward to enjoying other performances that will be played out at Delta College.  It was a perfect venue, as I sat down in the 5th row and felt as if I was catching a glimpse of some of our future television and even movie stars.

This was the first time that Les Misérable School Edition was presented in Stockton, and it was the first time St. Mary’s Theatre group performed at Tillie Lewis Theatre, according to its director, Kevin Costello.

I highly recommend that anyone and everyone attend your local theatre productions.  You don’t know what you’re missing out on.

Make it a great day!

Randy

Image via Wikipedia

The pressure is increasing on Congress to renew the homebuyer tax credits for a third time.

The first $7,500 tax credit was passed in 2008 and required first-time buyers to repay the credit over 15 years. A few months later in 2009, Congress expanded the credit to a maximum of $8,000 that didn’t have to be paid back.

At the end of last year, Congress extended the benefit again until April 30 with an extra two months on top of that to close. A new credit of $6,500 was added for move-up buyers, too.

Now representatives of the housing industry are lobbying for another extension. Some experts, including Mark Zandi, chief economist at Moody’s Economy.com, who supported the earlier credits, think the time has come to let it go.

“It’s worn out its benefit,” he says. “If you extend it again, it isn’t going to do much, and what you’re doing is providing a tax break to folks who bought anyway.”

Source: The Wall Street Journal, Nick Timiraos

If you’re faced with the decision of which direction to go, you might want to watch the video down below because you may not even have a choice.  The bank may be makng the choice for you without fair warning.

This video shares some insight as to why homeowners are having such a hard time trying to get their lenders to do a loan modification on their current mortgage.

Feel free to post any comments that you may have on this subject.

CLICK HERE to view the video

Hey dad, are we there yet?  No, I’m not referring to the camping trip.  I’m talking about the ‘bottom’ of the real estate market.

Sometimes I think what I see and read from the so-called ‘experts’ is all smoke and mirrors.  Personally, I feel that we’re pretty much there, but for sure we’re a lot closer to the bottom than we are from the top.

Once again, Stockton, CA has made it on the national news, but at least the news is not as bad for Stockton as it is for some other cities.

Take a look at this article and short CNBC video that talks about the current state of real estate foreclosures and what we can look forward to.

2009 was an interesting year for real estate to say the least.  Housing prices in the central valley went up and down, and up and down, but mostly down.

Here are a couple of lists that show the monthly numbers in sales and pricing differences during 2008 compared to 2009 for the cities of Lodi, Galt and Stockton.

Market Data for 2008 – 2009

Average home prices sold 2008 – 2009

Image via Wikipedia

If you are a current real estate investor or looking into how to get started, then I recommend that you look into a new group in Stockton that is already making a name for itself in the “Where do I go to learn and network” circles.

Here is a link (CLICK HERE) that will take you to the site for the Real Estate Investor Community of Central Valley.  The 1st meeting was a great success!

Real estate investing is a hot topic right now, and especially in the Stockton and Modesto areas of the central valley in California.  These two cities were listed recently in a list of the Top 10 undervalued markets.

Be sure and check out the Investors link above and I’ll see you at the next event.

I hope you have and still are enjoying this wonderful holiday season as much as I am. This is a time to reflect back not on what you’ve done for yourself, but what you have done for others.

From my family to yours, and from Realty World – Davis Homes & Properties…

Merry CHRISTmas and Happy New Year!

Happy Holidays

What expectations do you have for the New Year?  What do you see happening to the economy nationwide, or better yet, in your own neighborhood?

Here is an interesting article I found that talks about some of the things that we can expect to see happening…

This is the time of year when columnists either write about the major events of the past year or make predictions about the coming year. If you don’t know, I’ll let someone else tell you about 2009.

I’m far more interested in getting a jump on next year’s opportunities and discoveries. And, just as important, I want everyone to embrace 2010 feeling upbeat, confident and charged with energy. Things have been down so long that they just naturally have to be heading up. Absolutely!

So, I set out to make a list of all of those things that will be heading up next year. I was hoping to predict a rebound in both the economy and the real estate industry.

Read more: http://rismedia.com/2009-12-28/9-things-that-are-looking-up-for-2010/#ixzz0b4Ojz0Ka

Leave a comment and let me know what you think about the upcoming New Year and where you see things going for real estate, interest rates, gas prices, etc. in the Lodi / Stockton areas.

Make it a great day!

There are many. Among the most appealing: you own it, which gives you, instead of a landlord, control of your living space, and the ability to do what you want with it.  Other benefits include potential tax savings and the build up of equity as your property likely appreciates in price over time once again.  Equity can be used to help put children through college, purchase a second home, or make home improvements.

The mortgage interest paid on a home loan is tax deductible, as is the local property tax. If you get a fixed-rate home mortgage loan, you also can invest more wisely knowing your monthly mortgage payment, unlike rent, will not change substantially.

With mortgage loan interest rates as low as they are now, and expected to go higher in 2010, it might be a better idea to invest in Lodi real estate and Stockton real estate now more than ever.  Having a low interest assumable mortgage loan may become very attractive in the future.

Make it a great day!