I don't know where this idea on MH becomming a ghost town came from. I've heard it before. This town has the lowest foreclosure rate of any area in San Joaquin county! There are a number of short sales which may become foreclosures. There have been 39 sales closed since 1/01/08 at an average price of
$168.31 per SF. Current pendings are lower at $149.55/SF and current listings are at $172.22/SF.
Tracy, Lathrop and Stockton have much higher FC rates and sales are running below 50% of prices paid in 2006/2006!

Fri May 9 2008, 12:48

You must be an idiot considering buying something in this market, especially in a place to become the next Ghost Town as MH. A house over there is no more than 150k. They brainwashed everybody with California weather. Let the prices fall guys and you will make your kids happy.

Thu May 8 2008, 20:58

Kandis,

Since you're from Livermore you may not be aware of what other properties are available just outside of Mountain House. I only mention this because I recently purchased a home but after a great deal of research I decided against MH for many reasons. Instead, I purchased in a wonderful private community on the very west side of Tracy called Redbridge. If you're not at all familiar with it you might want to give it a look. It is only one exit beyond the MH parkway exit. VERY UNIQUE! I have several friends that live in MH. Some are satisfied, others are not, for various reasons. I don't like bad mouthing developments. Everyone has a different experience. Just give it a look before you commit. Currently excellent deals on new (last 10 homes) and existing properties. By the way, I'm not in the real estate business so I have nothing to gain by promoting Redbridge other than a new neighbor.

Good Luck

Thu May 8 2008, 10:56

Hi Kandis:

I am in the process of purchasing a home in the Avondale development. The price that you see on the model homes is very much a "retail" price based on the number of upgrades present in that unit. The Lucca has been the most popular model, so probably suffers has less market pressure than a couple of the others. The Luccas that are not yet built would start at the Internet price with additional costs for the upgrades you choose. Note that in Avondale, there are numerous standard features, which would be upgrades with most other builders. There may only be a couple of Luccas left to be built as the development is down to the last 15 properties.

That said, Pulte has been absolutely incredible in their desire and motivation to help get us into one of their homes. The sales staff have access to incentive programs, but as you might guess, they are still trying to get the most money possible out of each transaction. Because they are so heavily invested in the overall value of the community, the incentives are less directed at reducing the sales price and more about providing you a high value transaction; i.e. competitive interest rates, paying closing costs, discounting amenties, etc. What is different now than in previous years is that the builder is "motivated" to make you an offer of a lifetime. Some of your neighbors paid $600k+ for the same structure and lot size.

A real estate professional or mortgage broker familiar with the area can help you to determine if you are getting a fair and reasonable offer from the builder. They can get you recent comps for the same square footage. Of course, existing homes often sell for less than new homes, but not nearly as much as they were two years ago.

I would highly recommend that you have your agent call the sales office to schedule an appointment to see what it would take to get into one of the remaining Luccas. We finally decided to buy there, not just because we found the perfect floor plan in a great location within an incredible new community (more potential than anything remotely close to the Bay Area) , but Pulte guarantees the structure for 10 years. With all new appliances (warranted for two years) and equipment as well as state of the industry wiring, plumbing, and engineering, these homes will provide many initial years of low cost operation and maintenance.

If you're willing to look at the overall value, you wil easily close a deal in the $165-175 per sq ft range.

Good luck neighbor!

Wed May 7 2008, 00:44

Sorry I missspelled your name Kandice, I was typing too fast. :(
The Coach

Sun Mar 9 2008, 19:19

Real Simple Candice, I have 8 Realtors working for me in that area, all agree that you should decide on an offer (BTW, your estimate of $396,000 was what they all suggested as well), go into the sales office with a Realtor (they are paying Realtors commissions now, where they weren't before the market shifted!), preferably on a Wednesday or Thursday and negotiate right there for the house. We have some great success stories coming off this strategy throughout the Central Valley. Things are really moving right now, and it's a great time to grab a deal. Anything else, just call me @ 209-758-3113 or email me at thecoach@prucalifornia.com "The Coach"

Sun Mar 9 2008, 19:18

Kandis....

I am really surprised their prices are increasing based on the current market place. I would certainly find a local Realtor who is familiar with Mountain House that can negotiate on your behalf. Good luck.

Sat Mar 8 2008, 21:32

Get a Realtor to represent your interests in this transaction. He/she may have some insight into what's happening. And the seller will pay the commission.

Though the price variation is pretty wide, it's possible they're trying some test marketing on the property. Also, do the fliers indicate any variation regarding amenities? For instance, does a higher-priced one offer a finished basement or a fireplace? Or some sort of mortgage buy-down?

However, best advice is to get a good Realtor to assist you and answer your (very valid) question.

Sat Mar 8 2008, 19:00