Archive By Section - HOME SCENE
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.
Housing tax credit: Will they extend it?
The countdown has started. There are now 31 days left until arguably the most effective part of the stimulus package – the $8,000 federal tax credit for first-time homebuyers - expires at midnight on Nov. 30. Only those in escrow with homes being bought by qualified buyers at that time will receive the tax credit. One would hope our Congressman Jerry McNerney who has the distinction of having the nation's worst region for foreclosures as ...
FIRST-TIME BUYER FRUSTRATIONS
Four years ago this month only one home sold for less than $300,000 in Manteca. It was a two bedroom, one bathroom house with about 800 square feet on a narrow lot with less than 3,000 square feet in Central Manteca near Lindbergh School. It sold for $295,000 As of Monday this October, 44 homes have closed escrow in Manteca with all but seven being less than $300,000. Among them is a home that sold ...
What goes down will also go back up
Fifteen years ago, the average home on the resale market in Manteca closed escrow at $125,000. It was $390,000 in 2005. The market peaked at $413,000 in 2006. Today the average closing price in the Manteca resale market is $178,044.
The new Manteca numbers game
Now that it is clear the tsunami known as the mortgage meltdown has swept through the Manteca housing market it is safe to start thinking about long-term recovery.
Ready to move in home for $147,000
Tired of looking at homes in less-than-move-in condition? Would you like an existing home that doesn't need a ton of money put into it? Are you wondering if it is possible today to buy an existing home with a new roof, green grass, new kitchen appliances, new counters and cupboards in the kitchen, new tile, new carpet, new landscaping, new carpet, and even new sinks in the bathroom? You can get that and more for ...
The bottom of the Manteca market
You can own your own home in Manteca for less than $550 a month and not have to sink a lot of money into the foreclosure you're buying.
A home’s value versus its worth
Why, the reader asked in an e-mail, are you still in your home if you paid $189,900 for it in March 2008 and the assessor says it is worth only $102,000 as of Jan. 1, 2009?
Has bottom arrived in Manteca?
Two years ago this month there was a record 625 resale homes available in Manteca, Ripon, and Escalon. Of those, more than 250 were foreclosures including almost 180 in Manteca.
Mobile homes offer another housing option
Four years ago it wasn't unusual for a mobile home in a park like Manteca's El Rancho Estates to sell for $180,000.
No one said it would be easy
Editor, Manteca Bulletin, This letter is in regards to your August 14 article in the Home Scene paper. I don't know where you get your information. It is not that easy to buy a home in Manteca. Here is what we have learned while trying to buy a home: 1. Banks do not want FHA or USDA offers. They want cash or conventional with 20% down. 2. You always have to offer more than the ...
Articles by Section - HOME SCENE
Sales of bank-owned homes hit 5-year low in 1st quarter
LOS ANGELES (AP) - Sales of bank-owned homes have plunged to a five-year low, the latest evidence that the nation's foreclosure woes are easing as the U.S. housing market recovery gains momentum.
Are we in a real estate market recovery?
Real Estate Boys: I keep reading that the real estate market is booming again. Time magazine, the newspaper from our north, TV and radio news are all reporting to get "in now, the market is heating up across the nation." Wasn't it just a short year ago you Boys, and it seemed everyone else, was reporting that maybe we haven't seen the bottom yet? Then in late in 2012, "Well, we've bottomed out, but the ...
Rebounding home prices help regain some household wealth for families
WASHINGTON (AP) - The average U.S. household has a long way to go to recover the wealth it lost to the Great Recession, a report by the Federal Reserve Bank of St. Louis concluded Thursday.
Home prices rise 10.9 percent, largest jump in almost 7 years
WASHINGTON (AP) - U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes, driving prices higher and helping the housing market recover.
Smart, stylish renovations for any age
Most Americans over 50 want to stay in their home as they age, but few are making the renovations they need to ensure easy and comfortable living for years to come.
Eight easy ways to organize - and maximize - a small bath
The bath serves a variety of uses, from a functional room to a serene sanctuary, a storage facility to a salon. And, whether you enjoy it yourself or share with the family, every bathroom is in need of one major thing - organization. To help keep your bath feeling more serene and less insane, follow these eight ideas to help improve your organization, maximize space and even add a bit of style.
Go-big upgrades that can help a lingering home sell
Everyone knows spring and summer are the best months in which to sell a home. If your house has lingered on the market, you may be eager to find ways to freshen its appeal for potential buyers. Perhaps you're even ready to go big and invest in upgrades that will improve the home's value, curb appeal and interior allure so much that potential buyers just won't be able to walk away from it.
Sales of bank-owned homes fell in 1Q
FORECLOSURE SALES: Foreclosure tracker RealtyTrac Inc. says 190,121 U.S. bank-owned homes or properties in some stage of the foreclosure process were sold in the first quarter. That's down 18 percent from the previous three months and 22 percent from a year earlier.
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