Well the Bill has been signed, the new era of mortgage lending is continuing.  Will it help or will it hurt?  Will it make a difference?  Will it really be useful?  click HERE to read the article by Inman News, I'm not sure, I can tell you that I hope I qualify to refinance my home at today's value of 1/3 what my current mortgage amount is.  Wouldnt' that be nifty.  I could continue to make the same payment and pay twice as much on my loan. Tell me what you think -- I'd love to hear it. 07/30/2008

Might be boring, might peak your interest, but here they are, unveiled for the first time TODAY! The City of Tracy: Homes for Sale:      684  of this 684 homes 389 are Short Sales Pending Homes:      427  WOW more than half the number of homes for sale SOLD since 6/27/08 135 homes  Average:    $277,311 with 2062 square feet average days on market 49 Median:      $264.900 with 1950 square feet average days on market 21 Highest Sold  $693,000 with 417 days on market Lowest Sold   $99,000 with 0 days on market Interrupting the stats, homes are selling in the $250,000 - $400,000 price range and are selling quickly.  The Higher priced homes, the move up home, non - conforming homes, are taking a while to sell.  If you're looking for the best bargain - and you can afford it - over $500,000 is... 07/27/2008

I thought Josh Hamilton was the story of the Game -- not after tonight.  It's good baseball. Why aren't they playing International Soft Ball rules (don't tell me it's BASEBALL I KNOW THAT) Start putting runners on base?  A tie and extra innings happened once before why is there not tie breaker after so many innings? You have to end the game for home field advantage --- WOW - I'm glad I'm not Bud Selig!   07/15/2008

Do you love youth sports -- I do.  So if you're looking for some free entertainment, head out the Tracy Little League fields and watch the All Stars play ball.  Tracy American and National Little League will be hosting the Section 3 9/10 and  Major tournament.  This tournament will start next week.  Teams from all over the Bay Area will be arriving in Tracy for the priveledge of representing thier league, city and section in the Regional Tourmament. Tonights game Manteca vs Salida - 9/10's== Manteca was winning 9 - 0 after 4 innings one more run and they win the game.  5th inning Salida scores 14 runs, 18 batters batter.  Salida won 18 - 9 in 6th innings.  WOW - what a game to keep score forl Nothing like kids playing ball on a hot summer evening. 07/10/2008

We all know what happened in the real estate business 4 - 6 years ago.  If you could sneeze you could sell a house.  Airports were asking to see your real estate license, it was easier to get than a drivers license in California.  So is this a BAD Market?  Nope, the market is the market.  It's either a Buyer's market or a Seller's market, neither are good or bad, they just are.  First I get confused so here is the simple version Seller's Market -- houses are selling Quick, Usually multiple offers, over asking, buyers are paying seller fees as concesseions, seller's are in the driver's seat.  MOST buyer's BUY in a SELLER'S MARKET. Buyer's Market --- Houses are taking longer to sell, amazingly rare for CA until 18 months ago.  Buyers are asking for concessions, buyers are getting closing ... 07/09/2008

WOW - it's hot outside in Tracy, CA today.  The windmills are not even moving on the hills just beyond Mountain House.  There are fires everywhere in California and it's HOT HOT HOT!  The news is requesting all outdoor youth activities to be cancelled -- this won't happen it's All Stars in Little League right now. SO my question still remains -- HOW do you SHOW homes in Arizona when it's at least 108 like it is in Tracy today on a regular basis.  I now know what the word "Sweathog" means.  It was me at 9:30 a.m. showing houses.  Please I want my 90 degree days back.... I'm tired of the air conditioner running non-stop.  Yes I'm very thankful I have air conditioning but still....... 07/09/2008

Here are the top 5 questions that home sellers in my community are asking about short sales.. 1) How much will it cost me to have you sell my home?  Answer -- you don't pay me.  The bank when it accepts the short sale will pay the commission for myself and the buyer's agent.  There are some agents who will ask for a fee upfront, or a fee to pay for a 3rd party, this is not the norm. 2) What if the bank won't talk to me about a short sale?  I hear this frequently.  The homeowner has called the bank, trying to be proactive, sometimes they are not late on their payments, YET.  Most banks will work with a homeowner once they realize that the homeowner is serious, and in real financial trouble. 3) What are the financial consequences?  We've all heard that homeowners won't be sent a 1099 -- t... 06/28/2008

Rule # 1 don't mention problems in your advertising --  yet is this a sound stategy in today's market? I'm thinking I short need to be asking buyers and sellers these real questions.... Do you have a problem paying your mortgage?  Do you have problems finding a REALTOR in Tracy, CA that will call you back?  Do you have problems finding a home?  There are a million more problems that buyers and sellers in Tracy and Mountain House, CA have.  I can help--- call me -- I have answers to your problems.  I have free lists of REO listings, I have success in selling short sales. I'm the local real estate economist - so call me before you believe everything you read in the media. I will give you a personalized list of homes that fit your needs and wants. Susan   06/26/2008

This is so cool!  So far, all of my listings are SHORT SALE.  Some lenders are very easy to work with and some are (you know what I mean).  Overall, it's a great experience because I'm sure that short sales will come back again in the near future.  So, why not, get started with it right now in this century.  I've heard horror stories about short sale from other agents, but I don't think it's not that bad.  If you know what you're doing and you're submitting all required docs right away then it should be just fine.  These lenders have already lost a lot of their investment money, and by being sympathetic to them and letting them know that the borrowers/sellers didn't expect this to happen and didn't want them to lose their home thru FORECLOSURE... the lenders will be more than happy to h... 06/18/2008

Top 7 Reason why EVERYONE should use a Realtor to buy a home -- especially if you are a first time Home Buyer. 1.  I will educate you about the market 2. I will listen and analyze your wants and needs 3. I will guide you to homes that fit your criteria 4. I will coordinate the work of other needed professionals 5. I will negotiate on your behalf 6. I will review paperwork and deadlines 7. I will solve any problems that may arise to the best of my ability, that leads to a win - win for everyone. There is one more - I love working with Buyers, especially first time buyers.  There are few things more rewarding than turning over the keys to a new homeowner. I live, work and volunteer in the community of Tracy, California.  I've watched Mountain House be built from the ground up.  Don't try... 06/16/2008

1) Do Nothing == this is not the best option, but surprisingly many people do just that.  They stop answering their phones, they don't open their mail, they live in fear and just wait for the inevitable to happen.  The Sheriff to show up at their door only to tell them their home was sold at auction and they need to move. 2) Call the bank -- ask if they will do a loan modification.  Some banks may be willing to work with you if a) you still have decent credit b) your house will appraise at what 80% of the amount needed for your loan c) your financial statement, income, assets, etc can show you are worthy of a loan. 3) Pick up the phone and fina a good REALTOR who knows how to process and do short sales.  Short sales have finally caught on at most banks.  The banks are realizing that by... 06/04/2008

Banks are baiting buyers. This is from my pespective, as a REALTOR who's daily working in the Tracy, CA housing market.  The media is about 6 months behind. Here's what is happening.... Banks are no longer waiting 3 - 6 months for a buyer to come along and offer less than asking.  Now banks are pricing thier listings so low buyers have to move IMMEDIATELY!  Prices are low, buyers are waiting for that DEAL.  What happens to these listings, they get multiple offers, well over asking and within the first 5 days.  WOW -- so the bank doesn't have to maintain or carry the listing for long. I'm waiting to see if this micro market starts driving up the prices - at least a bit. The good news is there are more and more homes coming on the market daily. If you're looking to buy -- get a great REA... 05/13/2008

All you have to do is PICK UP THE PHONE, RETURN PHONE CALLS.  OH my -- that's all it takes. Really it is - right now most properties in Tracy and Mountain House, CA are foreclosures.  These homes are bank owned and are listed with REO agents.  I can not tell you how many buyers I've picked up simply because I answer the phone and I return emails.  They are greatful.  Currently shopping for a home, and no one is answering their phone calls. So I'm building my data base like crazy.  Call ME -- I'll answer my phone if you're looking for a home in Tracy or Mountain House, CA.   05/13/2008

Here is what I've seen happen....6 months ago -- House A a Bank Owned (REO) property was priced at $400,000.  It sat on the market for 6 months, and someone finally made an offer -- of $350,000.  The banks quickly within 48 hours accepted the offer.TODAY!  Sale house - sale value house- now instead of pricing house A at $400,000 -- the bank will price it under market -- so they price it at $350,000-- they have 10 - 25 offers within the first 48 hours -- the Accepted offer is WELL over asking -- close to $375,000-- $400,000 -- and the bank had zero holding days. It is taking almost a week to get an answer from the bank.So if you're wanting to buy an REO property - plan on a "Buyer's Market" frenzy.Will we start to see a slight rise in prices, probably --- REO's may start to push up the p... 05/04/2008

Oh my goodness -- if you are looking for a home in good condition, in a good neighborhood is getting harder and harder.  Agents in the Tracy and Mountain House area are now starting to put offers on ... hold on to your hats..... 'SHORT SALES".  WOW -- you heard it right, and you heard it here first.  While a short sale listing might have been the KISS of DEATH --agents are writing and buyers are buying Short Sales?WHY?  Why are Short Sales selling..... because the owners are taking care of these homes.  Grass isn't dead, the home is still in good condition, there is still love in the home.Now that buyers want to put offers on Short Sales, all we have to do is get the banks to work a bit faster and there really will be a shortage of inventory. 05/04/2008

Frustrations are mounting.  Where are people getting thier information?  How many times have I heard this week what the Tracy Real Estate market is like?  LOTS - Here's the problem, they are wrong.I'm working in this market, I see what is happening, and yet there are those who want to buy who are certain that they know that there is no problem getting a 2500 square foot house, that is less than 10 years old for only $200,000.  Why do they think this?  Auctions.... starting bid $179,000 for this house -- STARTING bid not RESERVE bid.So let me be the first to tell you..... homes that are Tier 1, great condition, priced well, in the $300,000 and less price range are selling within 5 days with multiple offers.  These homes are going OVER asking price.  How do I know this, because I've been ... 04/23/2008

I'm hearing this far too often.  Many people are following along on the current trend. My home is worth so much less than I paid for it, why should I keep it.  My neighbors just bought for half of what I paid.  I don't want it anymore, not at the price I paid for it. Sounds like a great arguement, except for one small detail -- you signed a contract to pay the bank back for the money you borrowed.  So what are your options?1) You stay in the home, keep making your payments, and realize that eventually the market will improve, and you'll have equity again.  (This is a bitter pill for most of us to swallow, however it does make the most sense.  If you can make the payments, you still get an incredible tax advantage, that by walking away and renting for 3 - 7 years you lose those tax benef... 04/16/2008

Hold on to your hats -- because the number 1 way to help many clients in today's market is to Short Sale thier property.  In the Tracy and Mountain House CA numerous home owners need help NOW.I know -- it's a long drawn out process, I know it's a ton of extra work, I also know it is so rewarding.People who are behind on the mortgage payments are SCARED!  They really do not know where to turn or to who.  Hense -- you come in as the person who can answer thier questions, and give them HOPE.For most people who try to sell thier home as a short sale, they view the experience as doing the "honorable thing".  They don't want to just walk away and not honor thier commitment to the loan.How and Why they are in this position vary from person to person, but bottom line is these clients need our h... 04/13/2008

Tracy Homes Listed For Sale - 921Tracy Homes in escrow since April 1, 2008 - 84Tracy Homes sold since April 1, 2008 - 25Tracy homes owned by banks - 1119Source: Metrolist Services, Inc. and RealtyTrac.comInventory levels for the week remain level while homes in escrow and homes sold show an increase. This is further evidence that buyers are coming out and making offers at current pricing levels. With FHA mortgage rates around 5 3/4%, now is a great time for long term buyers to get into a great home at the lowest prices in years. 04/11/2008

Tracy Homes Listed For Sale - 918Tracy Homes in escrow since April 1, 2008 - 48Tracy Homes sold since April 1, 2008 - 12Tracy homes owned by banks - 1103Source: Metrolist Services, Inc. and RealtyTrac.comA significant increase in new escrows show more and more buyers are taking action to capitalize on current pricing levels. Many of these homes are bank owned properties and it remains to be seen how many of these escrows will close successfully. 04/08/2008