Posted by Dave Thurman under Real Estate
232 E Ingram Street, Stockton, CA, 95204
Description: Large over 2000 Sqft 5 Bdrm 3 Bath home in College View area of central Stockton. Close to shopping malls, SJ Delta College and UOP. Includes 24×22 family room and fireplace.
As an experienced Stockton northern California REALTOR®, I have helped numerous clients successfully sell their home. I know how to handle every aspect of the sales process – from strategically marketing and displaying your home, to making sure everything is signed, sealed and delivered by the closing date.
Providing you with a comprehensive, high-quality listing service is the top priority for me.
When you decide to sell your home in the Stockton, Lodi and San Joaquin County areas, please contact me. And let’s get started!
Tug-of-War Between Low Inventory and Affordability Rages On
April Sales Down 8.3 Percent Year-over-Year, Lowest April Since ’08
Median Home Price Jumps 6.8 Percent Year-over-Year to $432,500
CALIFORNIA, MAY 18, 2016 – California single-family home and condominium sales were 35,978 in April 2016, an increase of 5.8 percent from a revised 34,002 in March 2016. On a year ago basis, sales were down 8.3 percent from 39,219 in April 2015, the lowest April sales volume since 2011.
Year-to-date sales (January through April 2016) totaled 117,235, down 4.5 percent from the same time period in 2015 and was the second lowest January through April sales volume since 2008.
Of the total number of homes sold in April 2016, 20.0 percent were condominiums and 80.0 percent were single-family residences.
“We are well into the spring selling season and sales volumes are still near their lowest levels since 2008,” said Madeline Schnapp, Director of Economic Research for PropertyRadar. “The lack of inventory means the tug-of-war between inventory and price will likely continue for the foreseeable future. While authorized building permits in California are approaching the highest levels since 2007, new inventory of any volume won’t arrive until 2017 or 2018.”
The April 2016 median price of a California home was $432,500, up 5.5 percent from a revised $410,000 in March 2016. On a year-ago basis, median home prices were up 6.8 percent from $405,000 in April 2015. The median price of a condominium was $413,000, up 2.0 percent from $405,000 in March 2016 and up 6.4 percent from $388,000 a year ago.
“Prices jumped this past month as seasonal pent-up demand slammed head-on into an inventory constrained market,” said Schnapp. “Although California is still finding buyers, there’s no question that at some point, and perhaps happening now, buyers are going to put their hands up and sit tight or even consider out-of-state options.”
Within the 26 largest California counties, the highest year-over-year price appreciation occurred in the Northern California counties of Santa Clara (16.3 percent), Merced (13.9 percent), Sonoma (13.7 percent), Monterey (13.4 percent), Alameda (11.6 percent) and Marin (11.1 percent).
Cash sales of single-family homes and condominiums in April 2016 gained 0.3 percent from March 2016 but were down 11.0 percent from April 2015. April cash sales were 21.0 percent of total sales, in line with the average percentage of cash sales over the past 12 months. Within the 26 largest counties in California, the counties with the highest percentage of cash sales were Santa Cruz (29.8 percent), Monterey (26.8 percent), Marin (26.7 percent), San Francisco (26.3 percent), and Fresno (25.1 percent).
“Despite low inventory and high prices, cash sales continue to be an integral part of the market,” said Schnapp. “The lure of a positive return on investment in a yield starved environment has proven attractive to investors looking to deploy cash in real estate.” [Read More]
Search Every Foreclosure in California!
Attention Investors! I have the information for Bank Owned, Auction and Preforeclosure properties… Just use my “Free Foreclosure Search” and I will send you what you need. Free Foreclosure Search
The delinquency rate for mortgage loans on one-to-four-unit residential properties remained unchanged from the previous quarter at a seasonally adjusted rate of 4.77 percent of all loans outstanding at the end of the first quarter of 2016. This was the lowest level since the third quarter of 2006. The delinquency rate was 77 basis points lower than one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.
The percentage of loans on which foreclosure actions were started during the first quarter was 0.35 percent, a decrease of one basis point from the previous quarter, and down 10 basis points from one year ago. This foreclosure starts rate was at the lowest level since the second quarter of 2000.
The delinquency rate includes loans that are at least one payment past due but does not include loans in the process of foreclosure. The percentage of loans in the foreclosure process at the end of the first quarter was 1.74 percent, down three basis points from the previous quarter and 48 basis points lower than one year ago. This was the lowest foreclosure inventory rate seen since the third quarter of 2007.
The serious delinquency rate, the percentage of loans that are 90 days or more past due or in the process of foreclosure, was 3.29 percent, a decrease of 15 basis points from previous quarter, and a decrease of 95 basis points from last year. This was the lowest serious delinquency rate since the third quarter of 2007.
From C.A.R. Newsline ~ CALIFORNIA ASSOCIATION OF REALTORS®
Get This Week’s Local Market Conditions
With access to the Multiple Listing Service (MLS®) data I will provide you with what you need to: gauge how the market is trending, find out what sold most recently and for how much, understand how homes compete on price with other properties selling in the area, view homes for sale with photos to better assess the market conditions and answer any pressing questions you may have. MLS Market Snapshot
On less windy days try trolling for striped bass off Decker Island and the backside commonly known as Horseshoe Bend for stripers to 12 pounds. Field scouts report that the bass are moving in and out of the Delta region with some that have completely spawned out and some yet to spawn. On the San Joaquin River trollers still continue to take good numbers stripers off the sand bar in front of Eddo’s Harbor, both the Santa Clara and San Andreas Shoals with catches averaging about 24 inches in size. If you are into anchoring and dunking your favorite bait try anchovies at the Power Lines, south of Rio Vista. For sturgeon fish the outgoing tides off light 14 off Sherman Island eel strips tipped with a piece of nightcrawler or salmon roe. Largemouth bass fishing is rated very good with the typical bass weighing 2 to 3 pounds, up to 9. A recent Bass Derby took place on the Delta and the winning 5 fish limit weighed in at 36 pounds. That’s a 7 pound average. The bi fish of the tournament weighed 9 pounds. The Pacific-American Striped Bass Derby concluded over the weekend where 300 participants fished the contest. During the event 102 striped bass were registered with weights ranging from 2 pounds to 24 pounds. a good number of the fish came from the Decker Island area. The big fish was taken from the Tisdale area on the upper Sacramento River. Anglers tossing grubs, Shad Darts and flies to catch American shad, especially at the Freeport Bridge and farther along the Sacramento River at the Minnow Hole and off Miller Park. American shad also showing at Verona and the Feather River. [Read More]
From Jay – Let’s Go Fishing – May 11, 2016
Whether you’re buying a home, selling your home or relocating to the Stockton, Lodi and San Joaquin County area… the following information, resources and tools will help to guide your decision. Community Information