Four years ago this month only one home sold for less than $300,000 in Manteca.
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.
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.
Tired of looking at homes in less-than-move-in condition?
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.
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?
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.
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.
Editor, Manteca Bulletin,
The median resale price of a home today in Manteca is $176,250.
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?
Buyers are coming over the Altamont Pass again.
There are those who are still in denial that their homes are no longer the equivalent of a Bureau of Engraving printing press.
Some of the most energy efficient homes in the Central Valley are now being built in Manteca.
The South County real estate market is beginning to look more and more like a bad sequel to the 1963 treasure hunt farce entitled "It's a Mad, Mad, Mad, Mad, World."
WASHINGTON (AP) - The average U.S. rate on a 30-year fixed mortgage edged up this week to 4.28 percent from 4.23 percent but remains near historically low levels after declining during the five previous weeks.
LOS ANGELES (AP) - U.S. homeowners are doing a better job of keeping up with mortgage payments, a trend that has reduced the rate of late payment on home loans to the lowest level in more than five years.