Saturday, June 16, 2007

San Joaquin Housing Market

I just received the latest housing stats for San Joaquin county and they continuing to climb on a weekly basis.

The market continues to be saturated with inventory as more homeowners are putting their houses on the market. For the following six cities (Stockton, Manteca, Lathrop, Salida, Tracy and Modesto) there are approximately 6,600 houses for sale.

Very few people are attending Open Houses. The hot weather is keeping them inside or at the pool. Those that are venturing out to Open Houses are mostly neighbors checking out what their potential "competition" looks like.

Most buyers are looking online to find their next house. By looking at MLS listings, a lot of houses just aren't showing well and buyers or their agents are writing these houses off as "don't bother showing". IS your house on that list?

The San Francisco Chronicle reports that "Many buyers now have no sense of urgency and are willing to keep looking, hoping that persistence will yield a better deal. As a result, houses, especially at the lower end, are languishing on the market, while for sale signs and price cuts are multiplying." This seems to be what's happening in the central valley as well.

Here is a break down of the housing stats in San Joaquin and how many have been placed in escrow as of June 1st, 2007:
  • Stockton - 3007 (55 in escrow)
  • Modesto - 1784 (55 in escrow)
  • Tracy - 936 (27 in escrow)
  • Manteca - 578 (15 in escrow)
  • Lathrop -149 (5 in escrow)
  • Salida - 149 (5 in escrow)

Houses are still selling (162 so far this month). Why isn't yours?

If you want your house to sell, you must be proactive in your house sale. You must either reevaluate your marketing strategy or reduce your asking price.

Home staging is a great marketing tool! By having a home staging consultation, you can find out exactly why your house may not be impressing potential buyers and what you can do about it. By completing the suggested tasks on the Consultation report, your house will show better than houses being shown in an "as you live" state.

If you want to present your house in its best marketable condition especially for MLS listings, consider a Final Four Staging. This includes room by room consultation plus staging of the four main areas (living room, master bedroom, kitchen and bathrooms)

There is just too many houses on the market and buyers have the choice to sit and wait. How long can you wait? Call today.

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