Realty World - Innovative Realty Service » Values

Housing Values At The Bottom Yet?

Michael Walters — Wed, 11 Jan 2012 22:30:00 +0000

Remember when we were on a road trip with the kids in the car? What was the question they always got around to? “Are we there yet?”
Nearly every day people ask me the same question relative to home values: “Are housing values at the bottom yet?” The answer varies depending the area you are asking about.
In this article Forbes provides mixed answers: homeowners in the San Francisco Bay Area may “be there”. Other places in CA and around the country, however, may have a ways to go yet before their house-value-slide ends.
San Jose was specifically listed as one of the few metro area where values seem to have leveled. This continues to be good news for Morgan Hill, Gilroy and Hollister home values. With the majority of South County residents commuting up into the Bay Area, home values in these three cities will continue to follow San Jose’s lead.
So, Johnny, we’re there – but we won’t be returning to increased values for some time to come.

Manufactured Homes: Good Investment?

Michael Walters — Mon, 05 Dec 2011 15:15:00 +0000

The term: “Manufactured home“ includes two types of homes: Mobile Home and a Modular Home.
Mobile homes are delivered to the sight on their own axles and wheels and generally have the wheels remain in tact. It is not real property and you pay the DMV vehicle taxes on it.
Modular homes are pre-built homes which are delivered to the lot on flatbed trucks, hoisted onto a permanent foundation and bolted down. Therefore the Modular home becomes ‘real property’ because it is affixed to the land. You pay regular property taxes on a Modular home, according to Prop. 13, as you would on regular, or, “stick-built” homes.
The value of the Mobile home is generally less than that of a Modular home. Financing of such a home is not nearly as attractive as that of a Modular home. There tends to be fewer lenders wiling to lend on a Modular home than a traditional “stick-built” home. However, those that do, typically offer comparable rates and fees to that of traditional homes.
We (under my “Community West Mortgage hat”) are one of those lenders who lend on Modular homes. Why not call or e-mail me for more details?

INCREASING Home Values! Here!

Michael Walters — Thu, 10 Feb 2011 23:31:00 +0000

And the winner of the highest appreciation of home values in the United States is: San Jose, CA!
Of course, Morgan Hill, Gilroy and Hollister home values followed in the same direction, as they always do.
The GOOD NEWS in this article is believable when you see the actual single family home value appreciation from 2009 to 2010:
San Jose’s average single family home value ROSE 11.5%.
Morgan Hill’s average value INCREASED 4.5%.
Gilroy homes saw the values RISE 6.8%.
Homes in Hollister enjoyed a healthy JUMP of 11.3% in values!
So, those of you who have been waiting to buy a home may want to take advantage of the incrediblely low interest rates and go buy a home. Their values have come off the bottom of value slide and are beginning to increase.
You homeowners who have been waiting for values to come back so you can refinance should e-mail or call me. I will research your home’s current value for you.
2011 is going to be an exciting year – IN OUR AWESOME AREA! What do you think?
(data source: MLSListings)