Archive By Section - HOME SCENE
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 ...
The $101,000 home vs. $176,250 home
The median resale price of a home today in Manteca is $176,250. The last time the median was that low was in 1999. Even so, a large chunk of the Manteca the market is acting like it is 1991. A spot check of closed escrows shows some startling "dips" in terms of what some three bedroom and two bathroom homes are selling for versus the rest of the market. And – surprisingly – it has ...
Buying a home on $9.60 an hour
Are you making at least $9.60 an hour at a 40-hour-a-week job to generate a gross annual income of $20,000?
It’s weird time for resale market
Buyers are coming over the Altamont Pass again. However, it isn't the Bay Area buyer of yesteryear. They are bringing cash – and conventional loans with sizeable down payments – and a lot of them aren't buying to own. Realtor after Realtor contacted by the Bulletin agrees on one thing – the Manteca housing market has gotten progressively weirder in the past six months and that first-time buyers need to expect to make numerous offers ...
The new reality
There are those who are still in denial that their homes are no longer the equivalent of a Bureau of Engraving printing press.
Montage solar expo & grand opening
Some of the most energy efficient homes in the Central Valley are now being built in Manteca. Standard Pacific's Montage and Montage II neighborhoods in the popular Woodward Park area south of the Highway 120 Bypass in Manteca have built-in energy savings that significantly reduces the monthly cost of owning and operating a home. Buyers who purchase this year could be eligible for excess of $13,000 in tax credits including $8,000 from the federal government ...
Articles by Section - HOME SCENE
Condo boards eyeing ‘mortgage termination’
DEAR BENNY: I am the president of a large condominium in the Midwest and have just heard about a program called "mortgage termination." It sounds fascinating and very useful for our condo, since we have a number of delinquencies with properties that are underwater. Are you familiar with this and if so, how does it work? --Phyllis
Fast, fabulous fixes to banish a boring bath
The best bathrooms are more than just functional areas - they're sanctuaries where you can escape, reset and recharge. And as one of the smallest and most-used rooms in the home, that's likely why they've become the most popular remodeling project (78 percent), according to the National Association of Home Builders.
Rate on 15-year loan at record-low 2.61 pct.
WASHINGTON (AP) - The average U.S. rate on the 15-year fixed mortgage fell last week to its lowest level on record, making refinancing and home-buying more attractive to those who can qualify.
Easy solutions to backyard problems
For time-stretched gardeners who prefer to enjoy their backyards rather than work in them, several new products make outdoor living easier. Each offers a thoughtful solution to a common outdoor living problem, providing time-saving help to gardeners, gadget geeks and all who love to focus on fun outdoors.-
Sure-grow guidance for 1st-time gardeners
Each year, thousands of first-timers will join the millions of seasoned gardeners who already know the satisfaction of picking a perfect tomato at its peak, serving up salads from greens just grown right outside the back door, or harvesting home-grown peppers and specialty herbs never even seen at the grocery store.
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