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Market Conditions in Riverbank : Real Estate Advice

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  • Local Info1
  • Home Buying15
  • Home Selling0
  • Market Conditions3

Activity 3
Tue Jul 20, 2010
Daniel Del Real answered:
Yes you can they run about $100 per sq ft. Just stay on top of the market. I agree inventory might rise just keep your eye on the interest rate. Last I checked the rate was at 4.875% for a 30 year mortgage... Remember if the rates start creeping up it doesn't matter if you get the property 10% less you might end up paying more for the house monthly and in the long term. If the rate changes 1% its comparable to 10% in price.

As per MDA DataQuick the median price in the Valley dropped. This could be due to the drop in buyer activity affected directly by the tax credit. Also with a ton of workout programs failing and strategic defaults increasing I do see prices heading back down a bit. This market will be around for sometime and we will bounce along the bottom for a few years before we see a recovery. Just stay educated and know what you want. If you see it and it makes financial sense for you go for it.

Good Luck.

Daniel Del Real, CRS
Del Real Group
www.DanielDelReal.com
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Fri May 9, 2008
Travis Heilman answered:
Riverbank will recover about as quickly as the rest of the local market (north/east Modesto). There is plenty of supply and demand has increased in the last couple of months. We will continue to see more foreclosures in the coming months because of the sheer number of loans that are scheduled to reset soon. If you're selling, you should have a pressing need to do so...If you're buying, it's really a great time because of the selection of homes that are available and the affordability of interest rates.

I'm here to help should you need the assistance of a Real Estate Professional
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Wed Feb 20, 2008
Christina Oneal answered:
Hi First time home buyer,
There are 8 homes that have sold since January, ranging from $219k - $292k, avg price $252k, sizes range from 1388 sq ft to 2160 sq ft.
There are 16 homes that are pending, ranging from $240k - $325k, avg price $301k, sizes range from 1708 sq ft to 2590 sq ft.
The average price went up but the sizes of the homes pending were bigger on average.
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