Virginia R Hoato's Blog – Topics That Matter: Real Estate news as well as information pertinent to your everyday life.

Hello,

Here is the new real estate overview as per Trulia:

Livermore Summary

Average price per square foot for Livermore CA was $231, a decrease of 2.1% compared to the same period last year. The median sales price for homes in Livermore CA for Jan 10 to Mar 10 was $378,100 based on 243 home sales. Compared to the same period one year ago, the median home sales price increased 3.6%, or $13,012, and the number of home sales decreased 22.6%.

There are currently 222 resale and new homes in Livermore as per Trulia, including 1 open house, as well as 405 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Livermore CA was $626,548 for the week ending Apr 07, which represents a decrease of 1.7%, or $10,570, compared to the prior week.

Mountain House Summary

Average price per square foot for Mountain House CA was $122, a decrease of 3.2% compared to the same period last year. The median sales price for homes in Mountain House CA for Jan 10 to Mar 10 was $300,000 based on 131 home sales. Compared to the same period one year ago, the median home sales price decreased 4.2%, or $13,000, and the number of home sales decreased 18.6%.

There are currently 65 resale and new homes in Mountain House as per Trulia, including 184 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Mountain House CA was $315,806 for the week ending Apr 07, which represents an increase of 1.4%, or $4,488, compared to the prior week.

Tracy Summary

Average price per square foot for Tracy CA was $118, an increase of 0.9% compared to the same period last year. The median sales price for homes in Tracy CA for Jan 10 to Mar 10 was $230,000 based on 553 home sales. Compared to the same period one year ago, the median home sales price increased 4.5%, or $10,000, and the number of home sales decreased 31.9%.

There are currently 308 resale and new homes in Tracy as per Trulia, including 935 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Tracy CA was $295,345 for the week ending Apr 07, which represents a decrease of 1%, or $3,078, compared to the prior week.

Lathrop Summary

Average price per square foot for Lathrop CA was $90, an increase of 0% compared to the same period last year. The median sales price for homes in Lathrop CA for Jan 10 to Mar 10 was $187,000 based on 179 home sales. Compared to the same period one year ago, the median home sales price increased 1.4%, or $2,600, and the number of home sales decreased 45.6%.

There are currently 104 resale and new homes in Lathrop as per Trulia, including 258 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Lathrop CA was $202,318 for the week ending Apr 07, which represents an increase of 1.1%, or $2,270, compared to the prior week.

(Source: Trulia.com)

That’s it for now!

Remember to come back tomorrow for more!

And once again:  if you are planning to buy a house or sell your house call me!!  I am only a phone call away!

Your #1 Realtor®

Sharing the weekly real estate overview with you!

Virginia R. Hoato
Realty World – Blue Property Group, Inc
DRE LIC# 01781539
Direct:  510-305-3254
Fax:  209-234-2750

Email: virginiarh@rightchoicehomes4u.com
TAMBIEN HABLO ESPAÑOL
Web Links: http://www.rwblue-virginiahoato.com

Skype Member: virginiarh1961

“FOR RESULTS OF EXCELLENCE: EXPERTISE AND INTEGRITY MUST EMBRACE YOUR NEEDS”.
(VRH 8-13-08)

Share the memorable experience of buying a home with others. Your personal referrals are my greatest compliment.

Hello,

This one is short and simple!!

If you are ready to buy a house but you don’t know who to call.

If you are willing to by a house  and you need guidance.

And if you are able to buy a house because you have been pre-approved,

then you just have one more thing to do:

CALL ME!!!! 510-305-3254.

That’s it for now!

Remember to come back tomorrow for more!

Your #1 Realtor®

Inviting you to call me to represent you!

Virginia R. Hoato
Realty World – Blue Property Group, Inc
DRE LIC# 01781539
Direct:  510-305-3254
Fax:  209-234-2750

Email: virginiarh@rightchoicehomes4u.com
TAMBIEN HABLO ESPAÑOL
Web Links: http://www.rwblue-virginiahoato.com

Skype Member: virginiarh1961

“FOR RESULTS OF EXCELLENCE: EXPERTISE AND INTEGRITY MUST EMBRACE YOUR NEEDS”.
(VRH 8-13-08)

Share the memorable experience of buying a home with others. Your personal referrals are my greatest compliment.

Hello,

This post is for those that are interested in flipping houses or that are already flipping but are at a point where they never thought they would be: short of funds.  It is also for those investors that want to start a journey into a field they have no knowledge of.   Like any other business you go into, before you get involved, it is imperative that you research what’s involved to see if you have what it takes to proceed. And I don’t mean read one article or talk to one person; that will not give you enough information to become an expert at flipping or at any venture for that matter.  It is not a good idea to walk into any business blindfolded.

Thus if you are a beginner, here is an article MSN posted that will help you determine if you have what it takes:

Five mistakes that make house flipping a flop

(By Lisa Smith of Investopedia)

House flipping has become the day trading of the 2000s. But in the rush to make a profit, far too many would-be real-estate moguls overlook the basics and end up failing. Here are the five biggest mistakes investors make in this market and how to avoid them.

1. Not enough money
Dabbling in real estate is an expensive proposition. The first expense is the property acquisition cost. While low- and no-money-down financing claims abound, finding these deals from a legitimate vendor is easier said than done. Also, if you’re financing the acquisition, that means you’re paying interest. Although the interest on borrowed money is tax deductible, it is not a 100% deduction. Every dollar spent on interest adds to the amount you will need to earn on the sale just to break even.

Paying cash eliminates the interest, but even then, there are costs to holding a property, such as taxes and utilities. Renovation costs must also be factored in. If you plan to fix the house up and sell it for a profit, the sale price must exceed the combined cost of acquiring the property, holding it and renovating it. Even if you overcome these hurdles, don’t forget about capital gains taxes, which will chip away at your profit.

2. Not enough time
Renovating and flipping houses is time-consuming. It can take months to find and buy the right property. Once you own the house, you’ll need to invest time to fix it up. Before you can sell it, you’ll need to schedule inspections to make sure the property complies with applicable building codes. If it doesn’t, you need to spend more time and money to bring it up to par. Next, you’ll need to invest time to sell the property. If you show it to prospective buyers yourself, you’ll spend plenty of time commuting to and from the property and meeting with potential buyers.

If you are able to make a 10% profit on a house that cost $50,000, you’ll make a $5,000 profit. For many people, it might make more sense to get a good job, where they can earn that kind of money in a few weeks or months via a steady paycheck — with no risk and a consistent time commitment.

3. Not enough skills
Professional builders and skilled professionals, such as carpenters and plumbers, often flip houses as a sideline to their regular jobs. They have the knowledge, skills and experience to find and fix a house. Some of them also have union jobs that provide unemployment checks all winter long while they work on their side projects.

The real money in house flipping comes from sweat equity. If you’re handy with a hammer, enjoy laying carpet, can hang drywall, roof a house and install a kitchen sink, you have the skills to flip a house. On the other hand, if you have to pay a professional to do all of this work, the odds of making a profit on your investment will be dramatically reduced.

4. Not enough knowledge
To be successful, you need to be able to pick the right property, in the right location, at the right price. In a neighborhood of $100,000 homes, do you really expect to buy at $60,000 and sell at $200,000? The market is far too efficient for that to occur frequently.

Even if you get the deal of a lifetime, you need to know which renovations to make and which to skip. You also need to understand the applicable tax laws and know when to cut your losses and get out before your project becomes a money pit.

5. Not enough patience
Professionals take their time and wait for the right property. Novices rush out and hire the first contractor that makes a bid to address work they can’t do themselves. Professionals either do the work themselves or rely on a network of prearranged, reliable contractors.

Novices hire a real-estate agent to help sell the house. Professionals rely on “for sale by owner” efforts to minimize their costs and maximize profits. Novices expect to rush through the process, slap on a coat of paint and earn a fortune. Professionals understand that buying and selling houses takes time and that the profit margins are sometimes slim.

(Source:  Real Estate MSN)

That’s it for now!

Remember to come back tomorrow for more!

And once again:  if you are planning to buy a house or sell your house call me!!  I am only a phone call away!

Your #1 Realtor®

Sharing a great article with you!

Virginia R. Hoato
Realty World – Blue Property Group, Inc
DRE LIC# 01781539
Direct:  510-305-3254
Fax:  209-234-2750

Email: virginiarh@rightchoicehomes4u.com
TAMBIEN HABLO ESPAÑOL
Web Links: http://www.rwblue-virginiahoato.com

Skype Member: virginiarh1961

“FOR RESULTS OF EXCELLENCE: EXPERTISE AND INTEGRITY MUST EMBRACE YOUR NEEDS”.
(VRH 8-13-08)

Share the memorable experience of buying a home with others. Your personal referrals are my greatest compliment.

Hello,

Here is the new real estate overview as per Trulia:

Livermore Summary