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This week in Stockton - Real Estate related news summaries 8/14/10 - 8/21/10

By
Real Estate Agent with The Nines Team At Keller Williams 01390564

Aug 15 - Stockton Record - CLOSED listing real estate transaction for July 14-20 from information compiled from County records:           Total sales:  146; Sellers identified as Banks or REO-type:  67, with 30 different firms selling (top 3: Federal National Mortgage-12; Deutsche Bank-6 and Wells Fargo Bank-6; Federal Home Loan Mortgage-5) New Homes: 2

Focus on Stockton: Total: 73; REO: 41; New: 1

Aug 18 - Washington, AP - "Data on recovery mixed" - reports that the indicators are not consistent.  While manufacturing grew in July with the highest boost since July of '09, the outlook for the housing market remains "dim." Home construction representing 80% of the market fell as did new building permit requests.

 Aug 18- Washington, AP - "Mortgage summit brainstorms ideas" - Banking executives do not appear to be in agreement on the level of support, but maintain that the government should remain in some "large role in propping up the nearly $11 trillion market."

Aug 21 - Washington, AP - "Nearly 50% leave mortgage aid program" - Nearly half the homeowners who entered the relief program have "fallen out."  Analysts express concern about Mortgage Aid, Permanent Help and Foreclosure Flood.

Still quiet on the San Joaquin County home front.  So ... is "no news" - "good news?"

Comments (4)

Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Buy Daytona condos for heavenly good prices

Jack,

This is quite interesting compilation. I thought it can be of more interest to agents, than buyers and sellers, but I would be interested to see some similar statistical data for our area.

Thanks for the idea

Aug 23, 2010 04:01 PM
Jack Mossman - The Nines Team at Keller Williams in Stockton
The Nines Team At Keller Williams - Stockton, CA
The Nines Team at Keller Williams in Stockton

Jon - this started as a review of the news for clients who were getting mixed messages from the media.  I've added a little here and there, but unless the "bits" come from the electronic version of the local media, I still can't find the links you suggested.  I haven't given up ... I'm still trying to find a solution.  Thanks for the comment and for your suggetion last month.

Aug 23, 2010 04:08 PM
Larry G. Williams, Stockton/Tracy/Lathrop/Manteca
Home Buyers Realty - Stockton, CA

Jack:

Here are some numbers for you for San Joaquin County.

Price/SF is ~$100 and is dropping. Average price is $188K. DOM is 67 and has been increasing for 6 mon. Pendings have been increasing the last 2 mon while sales have started down the previous mon.

From July 2009 to July 2010 the average sales price has increased 4.8%

Inventory has ben increasing the last 3 mon. 

For Stockton the following numbers apply. Lowest major zip is 95210 @$112K. Highest is $259K for  95219.  Inventory is up in all major zip codes except 95219.

Historically August is a down month but what will the Fall bring? More buyers I hope!

Aug 24, 2010 04:34 AM
Jack Mossman - The Nines Team at Keller Williams in Stockton
The Nines Team At Keller Williams - Stockton, CA
The Nines Team at Keller Williams in Stockton

Larry - Thanks for adding extra information - Fall?  or "The Fall?"  More buyers would be great!  Thanks for the comment.

Aug 24, 2010 02:38 PM