Home Buying in Stockton>Question Details

Weston Ranch…, Home Buyer in San Leandro, CA

Stockton declared bankruptcy and went belly up. Is it advisable to buy a home in Stockton areas like weston ranch?

Asked by Weston Ranch Buyer, San Leandro, CA Fri Apr 5, 2013

Help the community by answering this question:

Answers

14
1.City goes bankrupt then everybody must move out of their house and go live in New Jersey.
2. No one will be allowed to sell their houses at this time
3.Then when the city pays their debtors off, everybody gets to move back into their house 4.Community service must begin the second week of moving back in
5.Once the streets and public buildings are clean and clear of debris from non-maintenance, then everybody must work for the city 1 year for with no compensation.
6.After all mandatory jobs are completed then the whole city has a barbecue on money borrowed from the Fed.

I Love this Town
Have Nice Weekend Everybody
1 vote Thank Flag Link Sat Apr 6, 2013
Welcome to New Jersey- garden state! but please don't bring BK,crime,unemployment, air and water pollution, low rate of graduation from high school......to New Jersey.
Flag Sun Apr 7, 2013
I lived in Weston Ranch from 1999 to 2000. The positives include relatively new construction, with adequate electrical outlets, modernization, and pleasant floor plans. Negatives include the foul, awful, wake-you-up-in-the-middle-of-the-night odors during warm weather. Weston Ranch was once a dump. When I moved in 2000, the neighborhood, Gordon Verner Circle, was in decline. Vehicles were broken into as were homes. But then again, that happens everywhere. On a personal note, I could not bear the odors. I would not move back there. However, I have settled in an older Stockton neighborhood, and I'm very pleased to be here. It's less crowded than San Leandro and the Bay Area. Good luck with your decision.
0 votes Thank Flag Link Wed May 8, 2013
I lived in Weston Ranch from 1999 to 2000. The positives include relatively new construction, with adequate electrical outlets, modernization, and pleasant floor plans. Negatives include the foul, awful, wake-you-up-in-the-middle-of-the-night odors during warm weather. Weston Ranch was once a dump. When I moved in 2000, the neighborhood, Gordon Verner Circle, was in decline. Vehicles were broken into as were homes. But then again, that happens everywhere. On a personal note, I could not bear the odors. I would not move back there. However, I have settled in an older Stockton neighborhood, and I'm very pleased to be here. It's less crowded than San Leandro and the Bay Area. Good luck with your decision.
0 votes Thank Flag Link Wed May 8, 2013
I'm not from the Stockton area and certainly don't know much about the local economy or RE market there. However, let me say that what the city government is going through will no doubt have some type of impact on the RE market one way or the other.

If the city went through a Chapter 7 BK then, like any other Chapter 7, they'd have a clean slate and be able to start fresh. But this is in a perfect world. So many cities across the USA today that are facing BK are only willing to consider a Chapter 11 or 13 and not a 7. A 7 is a clean sweep. All your debt is forgiven except for some taxes which will always have to be paid no matter what, and then you start over with a relatively clean slate.

However, in an 11 or 13 for all intent and purpose it's just a re-organization attempt. Or at best just a way to keep the wolves temporarily away from the door. The real issues to be negotiated into 11's and 13's for the most part are the rediculous entitlement programs that they can't and will never be able to live up to because there's more money that needs to be paid out than is coming in and that's just to pay for entitlements and not on running the city's day to day biz. (Let's use Cypress as an extreme example).

There's an ole age adage in the basic law of economics. "When the OUTFLOW exceeds the INFLOW. The UPKEEP becomes the DOWNFALL. In otherwords it's like a giant multi-level marketing scam. The basic rules are based on geometrical or exponential progression.

Once you've saturated a given market in any business (city budget in this case) then you're dealing with the law of diminishing returns whence you have far less revenue sources able to keep feeding the kitty and voila............the bubble bursts.

Unless Stockton comes to terms with this reality then, like so many other Cities, States and Nations Worldwide they'll just be kicking the can down the road. Now all that stated if there are other factors driving the engine in Stocton i.e ag, energy, technology, etc. you may not necessarily need to rely totally on the city's ability to perform.

But real estate overall is good in most areas and now is the time to buy. With prices still relatively below market values and interest rates at an all time low it's certainly no time to be sitting on the fence.
0 votes Thank Flag Link Sat Apr 6, 2013
Ha! Sounds like a plan, John! I'll bring the BBQ sauce. ;-)
0 votes Thank Flag Link Sat Apr 6, 2013
You shouldn't be careful buying property now. You should ALWAYS be careful when buying real estate. You make money in real estate when you buy it. You collect your money when you sell that real estate, so you should always make smart choices when purchasing.

Even when prices are heading downward, it's still a decent time to buy, but ONLY if it's a smart buy and depends on why you're buying it. Is it going to be your home for 15-30 yrs? Is it going to be a rental property? It depends on why you're buying as to whether or not you should buy at any given time.

Mr. Tseng is in New Jersey (supposedly) and is on Trulia Q&A a LOT! I believe he has NO clue as to what our local real estate market is like here.

Prices are very low, but are currently on the rise. Interest rates are at their lowest, and are more likely going up in the future than down. Why wouldn't it be a good time to buy???

If you're looking to buy a home right now to live in with your family for 8-10 yrs, or longer, then it's a GREAT time to buy right now, no matter what anybody in NJ says.
0 votes Thank Flag Link Fri Apr 5, 2013
Hi, Randy :hank you for your comment and I do have clue about Morada section of Stockton. I like the areas around Tudor Rose glen, Oakwilde avenue, E. Morada street , Hildreth lane and MeFarlane road. I don't like 7922 E. Eight Mile road at all. I have my own realtor in Stockton Now. Thanks again.
Flag Sat Apr 6, 2013
Realtors always say Now is the right time to buy the real estate and beware of the herd phenomenon . The property price is drive up by institutional and investors' buying, cheap money by FED printing machine, be very careful when you are looking for property buying Now.
0 votes Thank Flag Link Fri Apr 5, 2013
Great info, Larry! Thanks for your valued input!
0 votes Thank Flag Link Fri Apr 5, 2013
First off, Stockton hasn't gone belly up! Life is pretty much the same as before BQ. .Bankruptvy filing is a business decision brought on by poor management and decisions made by previous leaders like giving retirement benefits after 30 days of employment. Or giving free medical benefits to familiy of employees, even after retirement.
Houses in stockton are appreciating. Weston Ranch (and rest of 95206) appreciated 23.4% in last 12 months. Current cheapest house in W.R. is $133K.
So the decision to buy in WR is really dependent upon price and age of house you want. Most houses are less than 15 years of age. W.R. children are in Manteca school district, not Stockton, so schools are better generally.
0 votes Thank Flag Link Fri Apr 5, 2013
If you're thinking of the long-term; go for it!
If you're not, you probably shouldn't be thinking about Real Estate.
0 votes Thank Flag Link Fri Apr 5, 2013
Stockton Bankrupt - ??

If we allow this; it can happen to the USA

Our political leaders are aloof!
0 votes Thank Flag Link Fri Apr 5, 2013
Hello Weston Ranch Buyer,

YES, it's a GREAT time to buy in Stockton right now. As Ector stated, your dollars will definitely go a long way in Weston Ranch.

There are two MAJOR commercial projects planned for the Central Valley that will bring hundreds of jobs to the area. This also means it will bring hundreds of potential home buyers and renters to the area as well.

What does that mean? It means increased home prices & rents. So should you buy NOW or wait for home prices and interest rates to increase?

I think you know the answer to that. ;-)

Randy
0 votes Thank Flag Link Fri Apr 5, 2013
Good Afternoon

Yes, it's a good time to buy a property in Stockton regardless of the fact that the City of Stockton
has filed bankruptcy and as of this time has been approved by the courts to move forward and
either restructure or settle with it's credtors. Don't get caught up on just the bankruptcy pay attention
to other important factors such as the emloyment forecasts for Stockton and San Joaquin County.

Particularly all the new state jobs and new industries that will be moving into the Stockton area
and of course the demand for affordable housing as you know with the price and cost of housing
rising in the Bay Area it will be only a matter of time when once again some families pursuing the
American dream of homeownership will look to Stockton and the Central Valley once more for
affordable housing especially if rents continue to go up in the Bay Area.

At this time homes in Stockton are affordable and interest rates are low however current
inventory is short and demand is high.

If you have any questions or would like to get more infromation feel free to contact me
Al Espinor Jr. (209) 351-3180 or aespinor@c21mm.com.

Thank You and Good Luck!
0 votes Thank Flag Link Fri Apr 5, 2013
The city is still working out its debt issues and being allowed to declare bankruptcy will help in righting the ship. As far as the housing market, now is an excellent time to buy. Low interest rates and affordable housing make it a great time to buy. Weston Ranch is an area that your dollars can go a long way.
If you have any questions or concerns, feel free to give me a call.
0 votes Thank Flag Link Fri Apr 5, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer