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Create A BlogSonora CA Real Estate Weekly Update |
Posted at Sonora CA Real Estate Weekly Update by Tony Krieg
Mar. 20, 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 3/20/08
Real Estate in Sonora CA continued to decline in value from last weeks yearly average of $369,545. Homes in Tuolumne County continued on a slow descent this week with a yearly average price of $325,965.* This week home sales climbed to 13 units of residential Real Estate closing and escrows opened were soft with just 5.
Real Estate in Sonora CA continued to decline in value from last weeks yearly average of $369,545. Homes in Tuolumne County continued on a slow descent this week with a yearly average price of $325,965.* This week home sales climbed to 13 units of residential Real Estate closing and escrows opened were soft with just 5.
Sonora CA Real Estate average 3 bedroom, 2 bath, 2 car garage home price over the previous 12 months is,* $351,273.
Sonora Homes have an average market time of 88 days.*
After being on the market an average of 145 days, there are 65 Sonora CA Homes for Sale with a median price of $517,560.
Twain Harte Real Estate average 2-3 bedroom, 1-2 bath home price over the previous 12 months is, $335,311
Twain Harte Real Estate average 2-3 bedroom, 1-2 bath home price over the previous 12 months is, $335,311
Twain Harte Cabins have an average market time of 190 days.
The 21 Twain Harte Homes for sale this week have been on the market an average of 122 days with a median list price of $408,162.
If you would like to view the most current addition follow this link
Sonora CA Real Estate Weekly Update.
Sonora CA Real Estate Weekly Update.
In North Tuolumne County during the past 7 days, 8 Residential
properties went into contract and 13 sold with an average price of
$331,262 and 160 DOM
In the year 2007, 8 went into contract and 7 sold with an average price of $358,500 and 78 DOM............
This week in 2006, 5 properties went into contract and 10 sold with an average price of $356,138 and 120 DOM. Back in 2005, 16 sold with an average price of $343,251 and 137 DOM.........and way, way back in 2004, 9 Residential properties sold with an average price of $279,539 and 102 DOM
North Tuolumne County Real Estate average 3 bedroom, 2 bath, 2 car garage home price over the previous 12 months is,* $325,965
North Tuolumne County CA Homes have an average market time of 128 days.*
North Tuolumne County CA Homes have an average market time of 128 days.*
There are 450 (Northern) Tuolumne County Homes for Sale with a median price of $441,993 and an average of 152 days on the market.
118 Homes priced under $300k (up 6 from last week)
221 priced between $300 and $500k, (Up 3 from last week)
16 Listings expired, 3 was withdrawn and 1 are TOM (Temporarily off the market).
What is an “REO”?
Last week we talked about “short sales”. But what happens after an attempt at a short sale has failed. Well, unless the borrower and the lender are able to work it out they will be forced to sell their home on the Tuolumne County Court House steps as a foreclosure. At this point either one of two things will happen. The property is purchased by another investor or it will become “Real Estate Owned” by the lender hence the term REO. Like I said last week, most banks are not interested in property ownership. With this in mind those of us who are investors have a slight advantage in negotiations. Unlike homeowners, lenders have no pride of ownership. There are no memories to leave behind. Most banks are designed to make more money with money and not with property. Their bottom line in this case is the deciding factor. They are highly motivated to sell. So making a ridiculously low offer is not going to keep them up late at night. With that being said there is a good chance that you are not the only one reading this article and now that the cat is out of the bag you may have some competition.
Banks are big and bulky institutions so therefore, it may take them time to respond to your offer. In the meanwhile, there may be others like you who are interested it this little plum you have found. Now, you are not dealing with a homeowner’s emotions but your own. Will somebody be able to trump your offer while you are waiting for the bank to respond? The answer is yes. It is customary for most offers to expect a response within 3 days. Banks on the other hand can take much longer. For example, there was a piece of Twain Harte Real Estate that sold for well over asking price a couple of weeks ago. It was an REO and the broker wisely listed it well below market value with the hopes of getting a quick sale. This move created a lot of interest and the subsequent purchase contracts. The bank saw no need to answer several of the offers but chose to respond to those over full price. The winning bidder still purchased a property under its’ current value and made a great investment. REO’s are becoming more plentiful these days, so take advantage of it. I know the banks would sure be grateful to you. So, as with any investment do your homework, consult an expert and be patient.
Next week: Negotiating with Homeowners.
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.
Address Asking Sold Chg% DOM
10900 Golden Horseshoe Road. $480,000 $458,000 95% 32
Real Estate in Jamestown, CA
409 E Oakside $450,000 $400,000 89% 139
168 WOODSIDE Drive $279,900 $257,000 92% 68
11040 Harrison Dr. $320,000 $304,000 95% 38
Real Estate in Sonora, CA
21292 CRESTVIEW DRIVE $349,000 $345,000 99% 123
21848 El Oso way $520,000 $520,000 100% 180
Real Estate in Phoenix Lake
20535 Gordon St $368,000 $299,900 81% 412
20000 COMMUNITY DR $99,000 $103,000 103% 37
Real Estate in Mono Vista
16975 E Brookside Drive $327,500 $250,000 76% 421
Real Estate in Cedar Ridge
20565 Deerhaven Dr $250,000 $250,000 100% 30
Real Estate in Ponderosa Hills
23854 Leisure Drive $489,900 $489,900 93% 295
Real Estate in Twain Harte
25142 Deborah Dr. $299,900 $246,000 82% 215
Real Estate in Sierra Park
28318 Tanager Drive $455,000 $418,500 92% 86
Real Estate in Pinecrest
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
