Home Buying in Turlock>Question Details

Arthur, Home Buyer in California

Pl adv on choosing b/w Turlock OR Modesto to buy a 1800 sq ft house with a upside potential and easy Renting

Asked by Arthur, California Wed Jan 7, 2009

Looking to buy a 1600/1800 sq feet house for my parents,with an intention to currently rent it out in a desirable neighbourhood.I am seeking an insight on which city would be a better option ...Modesto Or Turlock,and if either which are the desirable communities or locations within these cities.
Thank you.
Arthur

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3
I'm going to be short and sweet on this one. Modesto has some great areas but hands down Turlock is my personal choice. Turlock, though having expereienced a lot of growth, still maintains that small town feel. Plus, Turlock has held its values better than many of the surrounding areas. On average for a good livable house I have seen many areas reach below the $100/sqr foot value. As for my buyers looking in Turlock, I recommend anything in the $110/sqr ft value as a great buy. Ofcourse this personal opinion and I ofcourse recommend talking to an real estate agent one on one to explore all your options fully.
best of luck in 09
Tyler
0 votes Thank Flag Link Mon Jan 26, 2009
I'm afraid this is a situation in which you ask two people and you're getting two different answers. I was raised in Modesto but am raising my family in Turlock. I know both towns very well, and think that overall they are both great places (Please note the prior answer was from an agent in San Ramon, which is a little far away to profess expertise on these two cities.)

First of all, I think both cities are worth consideration, and if you get a significantly better deal in one city vs. the other, then I'd make the decision based on that. Both cities are desirable communities, assuming you buy in a good area generally (both cities--as all cities--have some parts that would not be a great investment).

However, supposing that you had pretty much the same buying opportunity in both Turlock AND Modesto, the edge I would give to TURLOCK. Here's why:

Modesto is a larger city, it has more employment, larger population, and more renters. However, it also has a much larger supply of homes for rent, too. In fact, even as a proportion, there is a bigger over-supply of vacant homes for rent than does Turlock, even after controlling for factors of renter population. For me that's the single most important factor--the supply/demand ratio. There is a tighter supply of rentals available in Turlock compared to Modesto. The same thing exists for home sales and values as well: Modesto has enough supply of homes that virtually every home buyer can find something satisfactory. However, in Turlock there is not enough supply of homes for sale--of housing stock generally, in fact--to satisfy all home buyers, relative to Modesto. Less inventory and supply mean that housing values fare better over the long term. And that has shown to be the case. Turlock's median price decline has been less than Modesto's, and I believe it is for that fact.

So to conclude, I do think that both cities should be worth your consideration. And really, your search should be more focused on specific homes and values within specific neighborhoods than to write off one city and look exclusively in the other. A good neighborhood in Modesto will do you better than a not-so-great area of Turlock. However, if I had to choose one city only (and plan to do so myself sometime this year), I'd give the slight edge to Turlock based on equal-to-better overall desirability and because of less supply of rental homes and homes for sale.

Aaron Lewis
The Lewis Team
Prudential California Realty
http://www.weworkharder.com
209-633-2727

P.S. While there is much to chose from in both places, you might be interested in a home I'll be putting up within a couple of weeks in a good, desirable neighborhood in Turlock. I'd be interested myself except I don't purchase my own listings because it's a conflict of interest. But it was a home for this couple for 30+ years and they took great care of it and are selling now due to age (going to assisted living). It is in great condition, is not bank-owned or a short sale, and is fixed up very nicely and will be going for around $150,000. It is in turnkey condition and will be ready to rent or have your parents move in right away, though it's somewhat smaller than your target size. Let me know if you want more info on it. But again, there are many good options to choose from right now.
Web Reference: http://www.weworkharder.com
0 votes Thank Flag Link Thu Jan 8, 2009
I'll answert this as an investor...not a Realtor. I've been looking at this myself. I'm liking Modesto right now because of the who renaisasance of the downtown. Turlock seems so depressed.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Wed Jan 7, 2009
Cindi Hagley, Real Estate Pro in Pleasanton, CA
MVP'08
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