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Stockton Real Estate
Welcome to Homes-in-Stockton.com, the single best resource on the web for
Stockton Real Estate Information. Here you will find "virtually"
everything you could wish for in order to find your next property, sell your
current home, buy a distressed property, or simply keep on the pulse of the
market until you feel the urge to jump in!
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Ready to Buy or
Sell? Don't make a
move without all the
information! |
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Your home is your
biggest investment.-
Get and Stay
Informed |
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Whether you want
information about
Stockton, or simply
your Neighborhood,
our FREE MARKET
REPORTS will provide
the on-time,
accurate information
you need. |
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Stockton is a unique
real estate
environment and
doesn't move with
the rest of the
country. Instead of
paying attention to
National Real Estate
News, subscribe to
our FREE MARKET
REPORTS. |
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Our Reports
are updated
monthly -
so you know
what's
happening
now - not
last
quarter. |
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Our Report
are FREE -
etc. with no
obligation
on your part
- so you can
be "in the
know" with
No Risk. |
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July 2010 Stockton Area Market Update
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Short Sale? Foreclosure?
Strategic Default?
(Short Sales
Continued...) |
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Last month we
defined "Strategic Defaults" as defaults on home loans that take place even though a homeowner is capable of paying. They stop paying on their loan
simply because they owe more than their home is worth.
We feel a short sale may be a better alternative.
Your Home Team
lists and closes more short sales than any other Central
Valley agent or team. Our short sale processing is cost free
to the seller and we are ready to help. Call us at (209)
471-6516 with any questions you may have. We also blog
frequently about the short sale process and real estate
trends.
The key to working out the problem is to act quickly.
In additional related news:
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Fannie Mae announced that it will pursue deficiencies in
some cases of strategic defaults. It’s getting
nasty! Read more
here.
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"Walk Away and You Will Pay." Fannie Mae later announced
they may ban borrowers who walk away from their homes
from obtaining new mortgages for seven years from the
date of the their foreclosure. Read about that
here.
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"Uncle Sam is looking for
homebuyers."
The
U.S. government holds a great deal of the housing
inventory in the country, most of it having been seized
through foreclosure. More
here.
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The FBI has announced that Stockton is at highest risk
for mortgage fraud. More about that
here.
We feel a short sale may be a better alternative... CALL US
at (209) 471-6516.
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Click here
to search the MLS like a realtor or the following
links to view the homes available in the following
neighborhoods!
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(Links are available at the bottom of this email to detailed
market reports for Brookside, Lincoln Village, Lincoln
Village West, Morada, Morada West, Quail Lakes, Spanos East
and Spanos West.) |
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Stockton Market Trend:
Continued delinquencies, foreclosures, and the new trend of Strategic Defaults
should result in a housing inventory increase - and continued home price reductions.
Traditional laws of supply and demand dictate this will
happen, unless there is massive finance industry (bank and governmental) interference. |
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Stockton Market Trend:
Continued delinquencies, foreclosures, and the new trend of Strategic Defaults
should result in a housing inventory increase - and continued home price reductions.
Traditional laws of supply and demand dictate this will
happen, unless there is massive finance industry (bank and governmental) interference. |
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Stockton Stats for June 2010 |
- There were 2,343 homes for
sale in Stockton at the end of the month. This
total includes 705 pending units, leaving a
balance of 1,638 units (3.6 months' inventory) available
for sale.
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5,395 homes were sold
in Stockton during the 12 month period, an average of 450 homes per month.
This compares to 6,958 homes, or a 580 unit average per month one year ago,
a 22% drop.
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SALES ARE SLOWING...
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There is a 5 month inventory
on the market (see the
"Months Sales In Inventory"
chart above).
Exclusive of pending sales (more transactions fall
out of escrow in this market than in a normal
market) there is a 3.6 month adjusted inventory.
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There should be a rash of new
homes that will be placed on the market over the next few months unless lenders
"bank" foreclosed-upon homes, or some
other solution is found for 'warehoused'
foreclosures and other "Shadow Inventory".
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471 units were sold this month.
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The average sales price
per square foot is $86 - less than
the cost to build a home.
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The
average home sales price was $146,000.
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Increasing delinquencies will result
in new measures and should continue a downward
pressure on
Stockton home prices.
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Click on any of the following links
to view neighborhood specific market reports. |
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