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 ...
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 ...
There is still no rhyme or reason to the Manteca housing market as it enters the third year of full-scale foreclosure frenzy.
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.
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 ...
The typical transaction involving an existing home closing escrow in Manteca is flat – for now.
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 ...
Finally there is some relief coming for those first-time buyers battling investors for foreclosures.
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 ...
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.
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 ...
Don't look now but the clock is ticking on the most affordable housing era in post World War II Manteca history.
Out-of-state investors who have savvy are treating Manteca foreclosures as the deals of the century.
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 for Manteca homes have dropped 15 to 20 percent across-the-board since the start of the year.
LOS ANGELES (AP) - Fewer U.S. homes are completing the foreclosure process and ending up repossessed by banks because investors are increasingly buying up properties when they go on sale at public auction.
LOS ANGELES (AP) - Fewer U.S. homeowners are falling behind on their mortgage payments, aided by rising home values, low interest rates and stable job gains.
DEAR BENNY: My mother and her boyfriend lived together for 18 years. He owned the house by himself. He has two surviving adult children. He always told me he wanted my mom to have everything. He did not have a close relationship to his children.
Boys: My husband and I have just made an offer to purchase a home and when we wrote the offer, we found out it must be approved by the court. The Realtor used the word "probate." Our Realtor could not give a clear picture of what's going on or what is going to happen. Can you Real Estate Boys come to the rescue and explain what in the world we've gotten ourselves into with this purchase?
WASHINGTON (AP) - Average U.S. rates on fixed mortgages rose for the second straight week amid some signs of economic strength. Still rates remain near historically low levels.
SAN DIEGO (AP) - California home sales and prices were fairly flat in October compared to September, but other figures indicate a market that is slowly regaining its health after a yearslong slump, a research firm reported Wednesday.
WASHINGTON (AP) - Average U.S. rates on fixed mortgages rose slightly last week but remained near historically low levels.
WASHINGTON (AP) - Fannie Mae and Freddie Mac posted strong earnings for the July-September period as the housing market continued to recover. The gains will enable the mortgage giants to finish repaying their taxpayer aid or come close to doing so five years after they were rescued by the government.
Every holiday party is as individual as the hosts and interesting as the guests. Yet whether you plan a sophisticated dinner party or an afternoon buffet, all parties do have one thing in common: the need for entertaining space.
Homeowners will pay 13 percent more this year to heat their homes with natural gas, the U.S. Energy Information Administration predicts.
WASHINGTON (AP) - A measure of U.S. home prices rose only slightly in September from August, a sign that prices are leveling off after big gains earlier this year.
Q: I haven't noticed this issue in your column. My neighbor's townhouse smells! When she has her windows or doors open, the odor is so overwhelming that I am unable to be outside or even have my windows open. This past summer, the smell was even drawn in by the air conditioner. I've had guests suddenly cover their nose and comment on the smell so, it's not my imagination.
Many triggers can affect our moods. From sights to sounds to smells - it's a sensory experience that we don't seem to have much control over. Or so we used to think. But with more research being done on exactly how these elements might affect our stress or happiness levels, we now have better insight on how to enhance our mood. This is good news for those looking to make home improvements.
When looking to transform your home, elements such as doors, ceilings and trim are perfect places to add color. These architectural details can create a wow factor with well-placed splashes of color.
Hey Real Estate Boys; This should be a quick and easy question for you boys. Sometime in April or March the market picked up, as you both reported, and we seemed to have a resurgent market all of a sudden. Well, the end of the summer, say July, I saw signs sitting a lot longer in front yards. Then looking at the closed sales in another newspaper, the sales seemed to have dropped or stopped ...