Lodi / Stockton CA Homes For Sale & Real Estate Information

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

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

I’ve written a few times lately and have also discussed a lot about whether NOW is a good time to buy real estate.

It seems less time is put into whether or not now is a good time to buy a new car or big screen tv.  Do those items ever go up in value?  Unless it’s made of gold, I don’t think so.

If you’re thinking of buying a home either as an investor, a first-time homebuyer, or moving up into a larger home, you can look into it now or wait for when home prices or interest rates increase, or both.

According to CNNMoney, Les Christie, there are 242 of the 299 largest U.S. housing markets that are selling for prices even bankers think are less than fair market value.

Of this Top 10 list of undervalued housing markets, two of them are right here in our beautiful central valley.  What does that mean to you?  What does that mean FOR you?

To me, it means that now IS a good time to buy.

Here is that Top 10 list:

1. Las Vegas, -41.4 percent
2. Vero Beach, Fla., -39.8 percent
3. Merced, Calif., -37.7 percent
4. Cape Coral, Fla., -36.8 percent
5. Houma, La., -34.6 percent
6. Port St. Lucie, Fla., -33.3 percent
7. Warren, Mich., -32.3 percent
8. Vallejo, Calif., -31.9 percent
9. Modesto, Calif. -31.8 percent
10. Stockton, Calif., -31.8 percent

Ultimately you have to be the judge when it’s a good time buy your 1st or your next home, but with the current tax credit of $8,000 for 1st-time buyer as well as the incentive now for existing homeowners to purchase real estate, I’m thinking now instead of later is good, if not better, timing.

At Realty World-Davis Homes & Properties, we are able to everyone with their real estate needs, but because of the low home prices we seem to be specializing in first-time buyers and investors.

You’ve heard the slogan…If you’ve got questions, we’ve got answers.

Make it a great day!

I’ve seen many people having to pack up and leave their homes and their memories behind due to the rising mortgage payments on homes that have dramatically fallen in market value.  I too have felt the crunch of what is happening in our economy, and fortunately, so far, I have been able to maintain and stay in the home that me and my significant other purchased 5 years ago in the height of the Lodi real estate market.

The Lodi and Stockton area real estate markets have been hit hard in the recent years, and I have seen a lot of nice homes and neighborhoods become empty and turn into what appear to be ghost towns.

My heart goes out to the people that have had to suffer from lost jobs/wages, unexpected medical bills, etc., that has not allowed them to stay in their homes.

Well, I have found news that may shed some light on these issues for some in an article by Amy Hoak on www.RISmedia.com and I believe it may give hope to some of those that would like to find a way to stay in their current home even if they do still find themselves having to experience foreclosure.

CLICK HERE to read this article about how Fannie Mae could be renting foreclosed homes back to their owners so that they can at least maintain their current job locations, children’s schools, friendly neighbors, etc.

Make it a better day!

Median Home Prices

This chart shows the estimated market value of the median priced home from 1970 through now.

Notice that the current home median price is down to approx where it was back in 2003.

To me, this means that if you bought real estate, oh say in 2000 or sooner, and you haven’t refinanced since that purchase, then you’re understanding that real estate is a good investment.  Especially if you’ve owned it since the late 80’s.

The real estate market will always go up and down in value, but overall it’s a good investment, and can usually happen for you with very little capital out of your own pocket.

Take advantage of the $8,000 take credit that is possibly going away November 30, 2009.  That means you’ve got only 57 days left before you’ve thrown away $8,000.  Wow, now that would not be a good investment decision.