Blogs Homepage
Featured Entries
Recent Entries
Recent Comments
Vendor Blogs
Tags
My Starred Entries
Create A BlogSonora CA Real Estate Weekly Update |
Posted at Sonora CA Real Estate Weekly Update by Tony Krieg
Mar. 13, 2008
Tagged with: sonora ca homes, sonora ca real estate, sonora ca realestate, sonora cailfornia real estate, sonora homes, sonora real estate, sonora realestate
Sonora CA Real Estate Weekly Update for 3/13/08
Once again prices fell ever so slightly this week as inventory rose gently for single family Sonora CA Real Estate. Homes in Tuolumne County continued on a slow descent this week with a yearly average price of $328,250.* This week home sales climbed to 9 units of residential Real Estate closing and escrows are still being opened at an above average pace.
Once again prices fell ever so slightly this week as inventory rose gently for single family Sonora CA Real Estate. Homes in Tuolumne County continued on a slow descent this week with a yearly average price of $328,250.* This week home sales climbed to 9 units of residential Real Estate closing and escrows are still being opened at an above average pace.
Sonora CA Real Estate average 3 bedroom, 2 bath, 2 car garage home price over the previous 12 months is,* $369,545.
Sonora Homes have an average market time of 84 days.*
After being on the market an average of 148 days, there are 67 Sonora CA Homes for Sale with a median price of $453,000.
Twain Harte Real Estate average 2-3 bedroom, 1-2 bath home price over the previous 12 months is, $342,290 (unchanged from last week)
Twain Harte Real Estate average 2-3 bedroom, 1-2 bath home price over the previous 12 months is, $342,290 (unchanged from last week)
Twain Harte Cabins have an average market time of 178 days.
The 22 Twain Harte Homes for sale this week have been on the market an average of 118 days with a median list price of $349,950.
If you would like to learn more about Sonora Ca Real Estate from our latest addition follow this link, Real Estate Weekly Update.
In North Tuolumne County during the past 7 days, 11 Residential
properties went into contract and 9 sold with an average price of
$232,556 and 155 DOM
In the year 2007, 5 went into contract and 10 sold with an average price of $336,470 and 85 DOM............
This week in 2006, 10 properties went into contract and 7 sold with an average price of $313,129 and 112 DOM. Back in 2005, 12 sold with an average price of $330,667 and 139 DOM.........and way, way back in 2004, 15 Residential properties sold with an average price of $331,450 and 118 DOM
North Tuolumne County Real Estate average 3 bedroom, 2 bath, 2 car garage home price over the previous 12 months is,* $328,250
North Tuolumne County CA Homes have an average market time of 129 days.*
North Tuolumne County CA Homes have an average market time of 129 days.*
There are 442 (Northern) Tuolumne County Homes for Sale with a median price of $380,950 and an average of 154 days on the market.
442 residential Homes are for sale from Pinecrest to Jamestown (up 10 from last week) ................
112 Homes priced under $300k (up 3 from last week)
219 priced between $300 and $500k, (Up 7 from last week)
8 Listings expired, 2 was withdrawn and 0 are TOM (Temporarily off the market).
112 Homes priced under $300k (up 3 from last week)
219 priced between $300 and $500k, (Up 7 from last week)
8 Listings expired, 2 was withdrawn and 0 are TOM (Temporarily off the market).
”Short Sales”
As I was explaining last week, a short sale occurs when a borrower becomes unable to fulfill their mortgage obligation. A homeowner who is proactive will first attempt this action with the intent of saving their credit and moving out of a bad situation. Talking to your lender up front and keeping them informed is your best bet. All of us at one time or another has given something to someone in hopes of seeing it returned. You must admit that when the time for return has come, a simple phone call from the borrower is much more welcome than their silence.
I’m pretty sure at this point that Banks are not that interested in home ownership and would rather be the good guy in all this.
Allowing a distressed client to sell their home at a discount saves them the trouble of foreclosure proceedings and the high possibility of ending up with the property after months of work. The lender will however want to make sure that your need is real and not just a scheme to defraud them.
So what kind of problems will soften a lenders heart? Well it’s what might be termed as “qualifying hardships”. Pretty much what they will be looking at is, #1 has your income been reduced, #2 has your payment increased and #3 what are the economic conditions in your area?
Things like a cut back in your work hours, unemployment or an increase in medical expenses may cause your lender to consider a short sale. On their side an interest recast or a negatively amortized loan that has turned fully amortized might persuade your bank to become more flexible. If the property is your home, lenders are also inclined to work with you more often than not.
Something else that is worthy of mention, there is the possibility that a lender may only look at the property after it has become delinquent. Good credit is important but there is no comparison between a few late payments and foreclosure. A foreclosure can last up to 10 years on a credit report.
Justifying your hardship is close to the same process as getting the loan in the first place. It will take time so you’ll have to be patient. Documentation of your situation and the economic health of the community in which you live will be the primary criteria on which a bank will make its’ decision.
You will need a Real Estate professional to help you. The whole focus of this event is to sell the property as quickly as possible, so pricing and marketing are very important. For most of us this is a new process and the amount of time and effort that an Agent will have to spend in order to possibly receive a reduced commission may not be worth it to most.
Let’s review,
#1 Recognize your problem early.
#2 Find a Real Estate Professional and tell them of your situation and your intentions up front. Don’t defraud them by holding back your real motives. If you feel you ship is sinking fast it’s usually a good idea to get off.
#3 Adopt an aggressive pricing strategy and market it as soon as possible. Trying to make a few extra dollars may cost you more than you know. Besides the bank will have to approve any offer that is accepted by you, thus it is the bank who will truly be negotiating the price.
#4 Be patient, patient, patient. This process can take months.
Oh and #5, You will also want to counsel with a Tax Professional as there may be consequences after your transfer has been completed.
I hope this article has not caught you in this situation. If it has I wish you all the best.
Tuolumne County Homes Sold Report for this Week.
This report shows the original price and not the subsequent price
reductions during the course of the listing.
MLS # Original Price
Area Sold Price
Address DOM
20072320 $370,000
01U-ROLLING OAKS $355,000
10625 River Oak Ct. 96
Real Estate in Jamestown, CA
20080025 $269,9000
03O-SONORA $260,000
282 WOODSIDE DRIVE 68
Real Estate in Sonora, CA
282 WOODSIDE DRIVE 68
Real Estate in Sonora, CA
20072110 $175,000
03E-GIBBS RANCH $168,000
20512 Nashua Rd. 34
Real Estate in Sonora, CA
03E-GIBBS RANCH $168,000
20512 Nashua Rd. 34
Real Estate in Sonora, CA
20072252 $242,900
04Q-TUOL RD-STANDAR $185,000
19695 SERRANO RD. 115
04Q-TUOL RD-STANDAR $185,000
19695 SERRANO RD. 115
Real Estate in Sonora, CA
20080049 $324,995
05B-BELLVIEW $320,000
21690 Fortuna Mine Rd. 81
Real Estate in Sonora, CA
05B-BELLVIEW $320,000
21690 Fortuna Mine Rd. 81
Real Estate in Sonora, CA
20071003 $259,000
07B-CEDAR RIDGE $200,000
16585 HILLSIDE 295
Real Estate in Sonora, CA
07B-CEDAR RIDGE $200,000
16585 HILLSIDE 295
Real Estate in Sonora, CA
20070748 $300,000
07B-CEDAR RIDGE $230,000
24194 Buggy Way 333
Real Estate in Sonora, CA
07B-CEDAR RIDGE $230,000
24194 Buggy Way 333
Real Estate in Sonora, CA
20071169 $219,900
09E-POND HILLS $185,000
20573 Canyonview Drive 280
Real Estate in Tuolumne, CA
20072337 $346,500
10G-LAKEWOODPARK $305,000
18930 Middle Camp Road 89
Real Estate in Twain Harte, CA
09E-POND HILLS $185,000
20573 Canyonview Drive 280
Real Estate in Tuolumne, CA
20072337 $346,500
10G-LAKEWOODPARK $305,000
18930 Middle Camp Road 89
Real Estate in Twain Harte, CA
There was an error in the amounts listed for the price, sold price and DOM in last week report. Here is the correction.
20072065 $422,000
08E-TUOLUMNE $280,000
17967 APPLE COLONY RD. 140
Real Estate in Tuolumne, CA
This information is deemed reliable but not guaranteed.
* These figures are based on homes with 3br, 2ba, 2 car garages and
1200 to 1800 SQFT
08E-TUOLUMNE $280,000
17967 APPLE COLONY RD. 140
Real Estate in Tuolumne, CA
This information is deemed reliable but not guaranteed.
* These figures are based on homes with 3br, 2ba, 2 car garages and
1200 to 1800 SQFT
