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Here’s an excerpt from one of the paragraphs about the history of what’s happened in the real estate market in Stockton, CA.  Detailed information on home sales appreciation rates, etc.  It’s an interesting chart of what’s happened year by year…

The highest annual home appreciation rate in the Stockton Real Estate Market was 32% in the twelve months ended with the 2nd Quarter of 2005. The worst annual home appreciation rate in the Stockton Market was -38% in the twelve months ended with the 3rd Quarter of 2008.

“The highest home appreciation in the Stockton Real Estate Market over a three
year period was 75% in the three years ended with the 4th Quarter of 2005.
The worst home appreciation over a three year period in the Stockton Market
was -54% in the three years ended with the 3rd Quarter of 2009.”

You can read the complete information HERE – Stockton Real Estate.

Here’s another link to an article about Why Real Estate Should Be In Your Portfolio.

I sure wish I had my Magic 8-Ball six years ago when I bought my new home, that’s for sure!  Who knew that there would be such a crisis that would cause so many Short Sales in Stockton and so many other cities across the nation?  Did the banks know?  Did their investors know?

Will the market bounce back?

Well if you’re looking to move in the near future, here’s another article I found with a list of Top 10 Improved Housing Markets by the year 2014.  This might be a good thing to know, or just another fortune teller looking to get their name in print.

CLICK HERE to view the Top 10.

Leave a comment telling us what you think the next 3-5 years holds for our local Stockton, Lodi real estate markets.

If you set the correct price, you’ll notice a much faster sale.  Setting the right listing price will also attract more potential buyers to your property as well.  You’ll also notice an increase in response from Realtors, and receive more calls about the property.  The listing price is very important – and it can ultimately determine whether or not you even sell your property.

A home can be overpriced due to several reasons.  Overpricing is something you want to avoid, as buyers tend to steer clear of homes that have been overpriced.  Normally, this happens when a buyer asks a lot more than the home is worth or valued at due to emotional reasons.  Some sellers ask a lot more than the value of the home due to location.  Although the location is very important, most potential buyers won’t give the home a second look if they think the price is too high – and more importantly out of their price range.

When you put your home up for sale, most activity will happen within the first couple of weeks.  If you put the right price on your home, you’ll notice immediate interest.  There are always buyers looking for homes in their price range, waiting for new homes to be listed or homes to be reduced in price.  Buyers who are waiting to purchase may miss seeing your home completely if the price is too high.

To determine the listing price of your home, you should always have your Realtor go over the comparable recent sales.  This way, you’ll know the possible value of your home.  You can sell it for market value or go a little under, although you should never attempt to go way over the value.  In doing so, you’ll miss out on a lot of potential buyers.  The home market is very competitive these days, which is why you want your home to draw as much interest as possible, as soon as possible.

Keep in mind that Realtors really have no control at all over the real estate market, only the plan behind the marketing.  Realtors don’t determine the asking price – the seller does through the assistance of their Realtor.  If you do things right and take each process step by step, you’ll set the listing price in the right area and have no problems selling your property, or at least getting offers for it.

Short Sales in Stockton and Lodi, CA areas are what’s fueling the market right now and will stay that way for the near future.  The main thing is to get a good solid offer on your home and then the lender(s) will determine if you get the ‘green light’ or not.  That will most likely only happen if you price it right from the start.

First American CoreLogic reports that distressed properties accounted for 29% of all U.S. home sales in January. Also, real estate-owned sales rose to 22% of homes sales from 19% in December, and short sales rose to 8% from 7%.

National average sale prices in January were $161,600 for distressed homes, compared to the average non-distressed sale price of $247,700, $141,900 for REO properties, and $215,300 for short sales.

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• Distressed Sales Reach 29% of Entire Market: First American (housingwire.com)

We all know that the Lodi, CA and Stockton, CA area property values have been affected by the current real estate market due to all the foreclosures and short sales.  How the upcoming wave of foreclosures and short sales will impact home prices in our area is something that is being reported on daily basis now.

The housing market is facing swelling ranks of homeowners who are seriously delinquent but have yet to lose their homes, and this is threatening a new wave of foreclosures that could hit just as the real estate market has begun to stabilize.

For the rest of this interesting article… CLICK HERE

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• Shadow Housing Inventory Still Looming (seekingalpha.com)

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

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!

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.

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