Archive By Section - HOME SCENE
Typical payment drops $2,500 a month
The first-time homebuyer story of four years ago in Manteca now seems like ancient history. The most popular loans were interest only with the typical monthly payment coming in at $4,000. Hardly any buyers were from Manteca let alone the Northern San Joaquin Valley. They were almost all exclusively Bay Area residents pushed eastward over the Altamont Pass. Manteca prices - $450,000 for a median price home of 1,900 square feet with three bedrooms and ...
Buyers of homes with deep value cuts will reap tax advantages for years to come
Call it the Darwin Proposition 13 effect. A home that sold for $413,000 in early 2006 is typically selling for about $178,000 today. Not only are the buyers getting more home for the dollar but they are getting a long-term tax break that will put them in a better position than a homeowner who bought a similar home in 2006 and holds on to it. Property taxes are typically one percent of the valuation in ...
Tale of two Manteca houses
There is still no rhyme or reason to the Manteca housing market as it enters the third year of full-scale foreclosure frenzy.
The case for a $10,000 California tax credit for homebuyers
The best way to keep California's housing construction pulse from straight-lining might just be Governor Arnold Schwarzenegger's proposal for reviving and expanding the $10,000 state home buyer's tax credit.
So is this the bottom?
Are things leveling out in the Manteca housing market? •The median price of existing home sales that close escrow has been virtually at a steady $175,000 for close to six months when you look at any particular point in time and include all homes sales going back 90 days. •New home builders enjoyed – at least compared to home builders elsewhere in San Joaquin County – 304 new home starts in 2003. The median sales ...
What goes down must come up
The typical transaction involving an existing home closing escrow in Manteca is flat – for now.
Move-up buyers now selling
More and more owner occupied homes that are not under duress are making their way to market. The number of short sales and foreclosures hasn't changed much for the past few months but what has is the available owner occupied homes. The noticeable increase is what sent overall listings past 200 for the first time since March. There were 205 available resale homes in Manteca's city limits as of Tuesday. For the first time in ...
FHA suspending 90-day rule for mortgages
Finally there is some relief coming for those first-time buyers battling investors for foreclosures.
Real Estate Believe it or Not
What a strange long year it's been. This past year has seen things happen in real estate that no one thought they'd ever see ranging from McMansions dropping from $750,000 at the market's peak in 2005 to some selling for $265,000 in mid-2009. And who would have thought you'd ever see homes selling in Manteca for less than $300,000 - the price fetched by old, two bedroom one bathroom houses back four years ago. If ...
When renting makes more sense
A household with two full-time workers each making minimum wage - $8 an hour – could afford to buy a $115,000 home if they have no other debt load and have the means to come up with $6,000 or so for down payment and closing costs.
It’s a mad, mad, mad market
The Manteca housing gods must be crazy. How else do you explain two deals that closed last week? A 1,352-square-foot home built in the late 1990s with three bedrooms and three bathrooms at 514 Mission Ridge Drive closed escrow for $131,750. That was $1,250 less than a three bedroom, two bathroom home with 1,164 square feet at 810 Ralph Avenue built at least 25 years prior that exchanged hands on Dec. 2 for $133,000. The ...
Housing: The end is coming
Don't look now but the clock is ticking on the most affordable housing era in post World War II Manteca history.
Smart money is snapping up homes
Out-of-state investors who have savvy are treating Manteca foreclosures as the deals of the century.
Condos $5,000 away from 80% decline
The Cherry Lane condos are on the verge of making Manteca history. A two-bedroom, one bathroom condo with 944 square feet closed escrow Oct. 14 for $45,000 or what used to be the price of a fully loaded Chevy Tahoe. It is just $5,000 above being exactly 80 percent lower than the peak price of $220,000 that a similar united closed escrow for 35 months ago. By contrast, the median resale price has dropped down ...
Rents drop by 15 percent plus
Rents for Manteca homes have dropped 15 to 20 percent across-the-board since the start of the year.
Articles by Section - HOME SCENE
Ellen Paradiso’s 4-season garden is a quiet and peaceful hide-away
Ellen Paradiso's blueberries were bought during a clearance sale at Park Greenhouse nursery in Ripon.
Buying tips to keep in mind as housing market warms
Ready to buy your first home, or move up to a larger home for your expanding family?
Reserve home mortgage can be good option for many seniors
Do you know that if you are 62 years or older you may be able to buy a house or a condominium using a reverse mortgage? A reverse mortgage allows you to get money from a lender, but you do not have to pay it back (or make any monthly payments) until you sell or die.
Homebuilder confidence rises in May from April
NEW YORK (AP) - Confidence among U.S. homebuilders rebounded this month, reflecting improved sales trends during the spring home-selling season and the strongest outlook for sales over the next six months in more than six years.
Rate on 30-year mortgage fixed loans rises to 3.51 pct.
WASHINGTON (AP) - Average U.S. rates on fixed mortgages rose this week but stayed near their historic lows. Cheaper mortgages have helped the economy by spurring more home-buying and refinancing.
Housing starts fell during April
WASHINGTON (AP) - U.S. builders broke ground on fewer homes in April, one month after topping the 1 million mark for the first time since 2008. But most of the decline was in apartment construction, which tends to vary sharply from month to month.
What are pros & cons of buying rental property?
Hello Real Estate Boys: My wife Bambie, and yes she is a dear, recently lost her parents to an accident and we are in the middle of closing out the estate with one of Turlock's wonderful attorneys. I suppose at this point I should say Bambie was an only child and will inherit her parents' entire estate. While the estate is not huge it will give us a very nice sum of cash soon. The ...
Four new-home trends that can work for your remodel
Builders are back in business, and new-home construction is up in areas across the country. So is remodeling, as plenty of Americans choose to stay put and upgrade their current homes rather than tackle the challenge of buying and moving into something new.
Give your home a fresh look with color
A fresh coat of paint can give any room an instant lift, making it a great solution for converting a space from drab to fab.
Manteca Garden Tour features 6 gardens
Six residential gardens in Manteca will be showcased in the 2013 Manteca Garden Tour which will be held on Saturday, May 11, the day before Mother's Day. The date makes this event a perfect Mother's Day gift for mothers, grandmothers, and sisters who either have green thumbs, have a penchant for gardening, or are simply interested in enjoying a visual feast of lush and colorful private Edens. The tour is the club's only fund-raiser during ...
Sell your home faster with cost-effective staging tips
Appearances count, especially when you're trying to sell a home. Even though the housing industry experts predict this spring will be a seller's market, it's important to grab every advantage when you're trying to sell your home. Staging - decorating a house to appeal to the broadest possible range of buyers - can make the difference between a quick sale or a long, painful linger on the market.
Fewer California homes heading for foreclosure
SAN DIEGO (AP) - The number of California homes entering the foreclosure process plunged to a more-than-seven-year low this year thanks to rising home prices, an improving economy and new laws designed to protect homeowners, a research firm reported Tuesday.
Manteca condo prices increase slightly, still 75% off market peak
It was the hottest buy in town.
New-homes sales rise 1.5 percent in March to 417K
WASHINGTON (AP) - U.S. sales of new homes rose in March to a seasonally adjusted annual rate of 417,000. The increase added to evidence of a sustained housing recovery at the start of the spring buying season.
Add low-cost living space with outdoor room
Adding living space to your home can be an expensive prospect. However, creating an outdoor room is a budget-friendly option that gives you more square footage, as well as additional opportunities to enjoy the season. As an extension of the home, outdoor rooms with decks or pergolas can be personalized to truly bring indoor comforts outside for relaxation and entertaining.
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