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 over a year, the available homes on the resale market are roughly proportionally the same split between foreclosures, short sales, and owner occupied property.
Real estate agents say more and more owners who have delayed move-up purchases because of uncertainty with the economy coupled with downward price pressures from foreclosures and short sales are now comfortable making the move.
Prices have basically stabilized for the most part with the median closing price driven down by over 2,200 foreclosures in the past two years in Manteca. The median selling price has been bouncing between $175,000 and $179,900 since last February.
“People understand that they will get less for the home (than what it was worth several years ago but the home they want to buy is going to cost them less as well,” noted PMZ Realtor Allison Chinchiolo.
Actually, if they are making a move up buy the odds are overwhelming the home they are buying has dropped farther percentagewise in price given market dynamics.
Chinchiolo has one such “move-up” listing at 1947 Crutchfield in the desirable Chadwick Estates neighborhood in northwest Manteca.
The Raymus home was built in 1998. It features the popular floor plan that emphasized living areas with a design that basked them in as much natural light as possible.
The 2,612-square-foot, two-story home is on a quiet street where the neighborhood design effectively eliminates through traffic. The home – that is not only in move-in condition but has plenty of visual appeal - is listed for $269,000. It will be showcased during an open house Saturday from noon to 2 p.m.
The curb appeal is nice enough with a three-car garage broken up by stone work as well as a verandah set back from the street.
It is once you step in through the threshold that you start to appreciate stylish functionality. Instead of the monstrous entry ways that the McMansions and McMansion-wannabes have, the entry way is fairly compact but has a sharp oak stairway leading to the second floor without wasting space.
The tiled floor entry is carried into the formal living rooms straight ahead and continues in a path to the kitchen and family room to allow upgraded carpet and pad in the living room to get less wear from simple back-and-forth traffic.
A bank of windows with plantation shutters looks out to the back yard while crown molding accents the 10-foot ceiling. The design of the house has all of the living area tucked away from the street.
The kitchen has an island and all the expected bells and whistles without the dance floor space. It features hardwood flooring including the area for informal dining.
The family room features a stone fireplace complete with hearth and oak mantel. The family room also has upgraded carpet and pad with a bank of windows that effectively use natural lighting.
There is an inside laundry with extensive oak cabinets plus a sink designed wash basin.
The family room and living room are separated allowing the possibility for gatherings where kids are in one area and the adults in the other.
There is also a downstairs bedroom and bathroom.
The stairs lead to a bonus room and a hallway that leads to the three other bedrooms. Although it is a four bedroom and three bathroom home it was built with a hallway door to the master bedroom retreat making it possible for a fifth bedroom.
The master bedroom had an angled ceiling. The master bathroom also has two sinks and separate bathtub and shower.
There is a gazebo and pond in the backyard as well as a cement patio.
The setback from other homes allows for more privacy.
For more information on the home contact Chinchiolo at 993-9292.
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 over a year, the available homes on the resale market are roughly proportionally the same split between foreclosures, short sales, and owner occupied property.
Real estate agents say more and more owners who have delayed move-up purchases because of uncertainty with the economy coupled with downward price pressures from foreclosures and short sales are now comfortable making the move.
Prices have basically stabilized for the most part with the median closing price driven down by over 2,200 foreclosures in the past two years in Manteca. The median selling price has been bouncing between $175,000 and $179,900 since last February.
“People understand that they will get less for the home (than what it was worth several years ago but the home they want to buy is going to cost them less as well,” noted PMZ Realtor Allison Chinchiolo.
Actually, if they are making a move up buy the odds are overwhelming the home they are buying has dropped farther percentagewise in price given market dynamics.
Chinchiolo has one such “move-up” listing at 1947 Crutchfield in the desirable Chadwick Estates neighborhood in northwest Manteca.
The Raymus home was built in 1998. It features the popular floor plan that emphasized living areas with a design that basked them in as much natural light as possible.
The 2,612-square-foot, two-story home is on a quiet street where the neighborhood design effectively eliminates through traffic. The home – that is not only in move-in condition but has plenty of visual appeal - is listed for $269,000. It will be showcased during an open house Saturday from noon to 2 p.m.
The curb appeal is nice enough with a three-car garage broken up by stone work as well as a verandah set back from the street.
It is once you step in through the threshold that you start to appreciate stylish functionality. Instead of the monstrous entry ways that the McMansions and McMansion-wannabes have, the entry way is fairly compact but has a sharp oak stairway leading to the second floor without wasting space.
The tiled floor entry is carried into the formal living rooms straight ahead and continues in a path to the kitchen and family room to allow upgraded carpet and pad in the living room to get less wear from simple back-and-forth traffic.
A bank of windows with plantation shutters looks out to the back yard while crown molding accents the 10-foot ceiling. The design of the house has all of the living area tucked away from the street.
The kitchen has an island and all the expected bells and whistles without the dance floor space. It features hardwood flooring including the area for informal dining.
The family room features a stone fireplace complete with hearth and oak mantel. The family room also has upgraded carpet and pad with a bank of windows that effectively use natural lighting.
There is an inside laundry with extensive oak cabinets plus a sink designed wash basin.
The family room and living room are separated allowing the possibility for gatherings where kids are in one area and the adults in the other.
There is also a downstairs bedroom and bathroom.
The stairs lead to a bonus room and a hallway that leads to the three other bedrooms. Although it is a four bedroom and three bathroom home it was built with a hallway door to the master bedroom retreat making it possible for a fifth bedroom.
The master bedroom had an angled ceiling. The master bathroom also has two sinks and separate bathtub and shower.
There is a gazebo and pond in the backyard as well as a cement patio.
The setback from other homes allows for more privacy.
For more information on the home contact Chinchiolo at 993-9292.
