Is it smart to aim your goals high in this market?  Well some would say you always aim high! 

For the sake of this post, lets be real.  Aiming too high, can hurt your business! We're talking about real estate, in this market and with foreclosures being the leader in properties sold (45-50% sold properties are foreclosed homes) probably even higher.  Since housing is decreased, employment is in the decline, foreclosures are up.... we need to point our aim at the right target to make our goals. 

So given that the properties are foreclosed homes, people lost their homes due to hardships and the main hardship is lost of wages (not discounting other major mishaps).  So if people are losing money (income), it stands to reason that the property values are going to go down or we are going to end up with the overload on the MLS, agents out of work, no house buying and rock bottom depression - right? 

So lets take a look at what's selling on the MLS.  We go right to the SOLD HISTORY.  After all, the sold properties are really what is driving what the listed  properties are listing for  (so its driving the market) - that plus the competition to get your property noticed.... 

Agents don't have a choice, we need to follow the demand, so lets see where the demand is in just one of Stockton, CA's areas.  I chose for this post, zip code 95212.  This is a good area of Stockton.  Lots of foreclosures in this area, one of the higher priced areas and one of the most desired areas - that is reasonably priced.  OK foreclosure buyers where are you? Like Stockton, most cities are broken into more than one zip code.  Stockton has several.  But for the sake of this information I used 95212 zip code and only 424 properties from April 7 to date.

Side note: there are 1940 total listings in this area that were sold over the last MONTH (4-7-09 to date).  

This is a chart average, median, high sold prices for properties with (4 bedrooms/ 3 bath) zip code: 95212      Area 20705. # of listings 424 

This shows days on market vs number of sold listings (4bed/ 3 bath in 95212 zip code from April 4 to date):

 The number of solds are even higher in the lower priced properties.  Agents are studying the MLS all over to find out where the demand is in their areas.  That is the first step to setting your aim and goals. 

OK foreclosure buyers where are you?  

WEBSITE: http://www.motheranddaughterrealtyteam.com

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Check out: Real Estate Terms/Definitions.  And take a look at Mother and Daughter Blog and D'Adrea's Mother and Daughter Blog  - for other tips for Sellers and Buyers. I work with my daughter as the Mother and Daughter Real Estate Team at Family Realty Group and we also focus in Short Sales and the Pre-Foreclosure process and REOs/Bank Owned Properties.  Our consultations are free.  Our aggressive marketing plan includes on-line listing advertising.  If you are thinking of selling or buying a home in Northern California's Central Valley (San Joaquin County CA - includes Stockton, Manteca, Tracy, Lathrop) plus Stanislaus County CA - includes Modesto, Salida, Riverbank) & the East Bay (Alameda County CA - includes Hayward, Fremont, Newark, Union City & Oakland) and surrounding areas give us a call.  If you would like a FREE Home Seller or Home Buyer Handbook, please call us at 866-750-8282 or email at US.

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