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As mentioned in the other responses you received, yes prices are rising and buyer demand is supporting the prices being asked by builders and equity sellers. Recently, there has been a slight drop in buyer demand and an increase in new construction and equity sales. All of these factors have made for a more inviting buyers environment over the past 30-60 days in the San Joaquin and Stanislaus County area. If you are still in the market I would be happy to help you locate your new or new to you home!
Care should be taken not to find yourself starting out upside down. It is my belief that as prices trend upward, there will come a time in the very near future that the market will soften some and prices may fall a little. Be careful not to get caught up in the hype.
All of the answers below are from real estate agents! Keep in mind that the demand for homes is increasing because investors are buying them. Real families have difficulties getting approved and as the price goes up, the so does the number of investor owned homes.
It's easy for these agents to remain competative and drive up the prices. I see many homes in my neighborhood become available and get purchased right away by an investor.
Good luck in your search. You are not alone. Manteca prices should not be as high as Tracy or Mountian House. Yes, it is a nice community but who are you going to live next to??? If the home is investor owned, reners move in and out. This means you never know who you will be stuck with.
Manteca still has a smaller town feel than the larger surrounding towns, and therfore has a high demand which turns prices around a little quicker than neighboring Stockton or Modesto. Prices are still slightly creeping upwards as our inventory is currently very low and demand remains at all time highs. The new home builders in Manteca are also seeing a huge upswing in sales which shows that prices are almost surely done dropping.
Yes that is something that I too noticed recently. The cost of building materials is steadily increasing this is a factor that I know happens often when building new building projects that span over a large time frame, from school to hospitals and yes even new homes. So the question is why wait for the prices to climb any higher than they already are? If you are looking for a home now is a great time to get started, especially while interest rates are extremely low.
Frankie Danner, Real Estate Agent
Rocky G.H. Hawrysz
Prudential California Realty
(209) 444-6610 - Office
(209) 915-6209 - Mobile
"Committed to your success!"
Prudential California Realty
Supply and Demand;
The Builders couldn't raise the prices if the people weren't willing to pay them.
Don't be discouraged, the prices are still relatively low and the Interest Rates are rock-bottom!