Christina ONeal’s Blog

Real Estate Price Trends
The median single family home price as of March 23 2008 for TRACY is $433,546

Home Sales and Demand Trends
The average property in TRACY as of March 23 2008 has been on the market for about 70 days.

Price Per Square Foot
The median price per square foot for homes in TRACY as of March 23 2008 is about $195

Homes for Sale
There are about 1,071 properties on the market in TRACY as of March 23 2008.

The real estate market in Tracy is changing rapidly.  At $195 avg sq ft price, 1071 homes for sale & median price at $433k, things are progressing in a good direction.  Interest rates are still pretty low.

43 HOMES SOLD LAST WEEK!!!!!!! ….notice the spike on the graphs
Call me for your neighborhood specific statistics to help you in your own real estate evaluation of Tracy real estate at 209-321-6122, Christina O’Neal

What are the three things you are looking for in a realtor?

**I want someone to call back or email me in a timely manner….

**I want someone to preview homes for me & report back to me the condition & all….

**I want someone to be my resource & get answers that I need to make a decision about my home purchasing…

These 3 things I can do for you…I would love to help you sell or buy the home of your dreams.  Call me at 209-599-9955 or christina@christinaoneal.com  or log on to my www.christinaoneal.com & start your search.

Take care,

I think some of you didn’t realize that my blog a few days ago was a positive affirmation.  I currently don’t have any REO listings but I want them too, just like most of you do. 

Here is what I have found out from a co-worker who interviewed a lady that has over 500 REO’s, that I think is brilliant.   

So you want REO listings, here is a suggestion.  Start going to all the bank auctions that are in your area.  We have a lot of them.  When you get to the auction, ask the check in people where is the Asset Manager meeting going to be.  Bring your resume & talk to the asset managers from each of the banks.  All of the big name banks are at these auctions & they are in charge of giving the listings out in your area when they come in.  Be a good listener & be consistent at asking for what you want.  They will get to know your name & that you are serious.  I haven’t tried it yet, but I intend to get purposeful & put it on my calendar. 

Please tell me if you do this & how it goes.   Take care & thank you again for believing in my blog, hopefully I can report back that I am successful in getting those 10 REO’s & really make those banks love me.

My newest & favorite positive affirmation is:

” I have 10 REO listings from an easy to work with bank.  The bank loves me because I service them well.  I put normal lockboxes on and follow up on every agent that brings buyers thru the home.  I have a high sales rate and the listings keep going pending as fast as I get them, so the banks just give me more.  Everyone in town knows I take good care of my listings & is very happy to show them.” 

There, I said it.  Let’s do it.  Say this five times each morning, noon & night. 

By next week, we will be on fire

Real Estate Price Trends
The median single family home price as of March 09 2008 for TRACY is $444,292

Home Sales and Demand Trends
The average property in TRACY as of March 09 2008 has been on the market for about 75 days.

Price Per Square Foot
The median price per square foot for homes in TRACY as of March 09 2008 is about $197

Homes for Sale
There are about 1,038 properties on the market in TRACY as of March 09 2008.
The real estate market in Tracy is changing rapidly.  At $197 avg sq ft price, 1038 homes for sale & median price at $444k, things are progressing in a good direction.  Interest rates are still pretty low.

50 HOMES SOLD LAST WEEK!!!!!!! ….notice the spike on the graphs
Call me for your neighborhood specific statistics to help you in your own real estate evaluation of Tracy real estate at 209-321-6122, Christina O’Neal

The phone rings…I answer the phone and it is a nice pleasant voice on the other end. She is inquiring about a house I have for sale.  She asks me how many bedrooms it is & what is the square footage.  I reply that it is a big 3 bedroom at 1811 sq ft & ask if that is what she is looking for.  “Susie” replies that is really not what she wants.  This buyer is very smart, knows what her families needs are & has been looking for awhile.  She has even seen inside other properties & has come super close to purchasing one of them. 

THOUGHTS to PONDER:  why hasn’t a realtor been picked to help her thru this whole process?

continued…  We talk further & I offer a couple of times to email her properties that fit her needs.  I also ask about her having a committed realtor to help her get the perfect home.  She self-discovers that she is searching in a hot price range (ie…everything she likes gets multiple offers before they can jump on it).  We talk further about the market & how she is really not interested in purchasing a “short sale”, because they take too long to possibly not even get the house in the end.  HERE is the BRILLIANT QUOTE:

“THEY SHOULD BE CALLED LONG SALES not short sales, since they take so long”

answer to pondering thoughts:  If you are a “Susie”, I would love to be committed to be your realtor of choice.  It can be a cohesive relationship, where i can help you get a great deal & you could be my first call, when I recognize a great deal coming.  I love my job and committing to my clients to help fill their housing needs while we work together to make it happen.

209-321-6122 or christina@christinaoneal.com

Real Estate Price Trends
The median single family home price as of March 02 2008 for TRACY is $466,434

Home Sales and Demand Trends
The average property in TRACY as of March 02 2008 has been on the market for about 87 days.

Price Per Square Foot
The median price per square foot for homes in TRACY as of March 02 2008 is about $201

Homes for Sale
There are about 969 properties on the market in TRACY as of March 02 2008.

The real estate market in Tracy is changing rapidly.  At $201 avg sq ft price, 969 homes for sale & median price at $466k, things are progressing in a good direction.  Interest rates are still pretty low.

41 HOMES SOLD LAST WEEK!!!!!!! ….notice the spike on the graphs
Call me for your neighborhood specific statistics to help you in your own real estate evaluation of Tracy real estate at 209-321-6122, Christina O’Neal

Are you reading headlines like these?

Recently, in Tracy, we had a house fire that happened the day before they were to be evicted.  I know it sounds suspicious, but it saddens me that we as people could judge them without knowing all the facts:

• the bank technically owned the home already.
• their home insurance won’t cover them because they did not “technically” own it.
• a Foreclosure notice was posted on their front door for seven days & was not removed.
• the notice was found still on the front door of their burned house.
• their whole family was in the house when it was started.

What’s my point?  How can we help, as realtors in this industry, get the word out to homeowners; 

“We can help them with some possible betters solutions than just plain losing your house to foreclosure”?

• Call your mortgage lender(s) & ask for a loan modification…
• Call your mortgage lender(s) & ask for a “deed in lieu of foreclosure”…
• Call your realtor of choice & ask them to help you sell the home in a “short sale”…

I just feel for the potential clients out there that do not even know they are in foreclosure.  Let’s reach out to them.

1)   You as a buyer must feel okay with the price, condition, location & anything else that plays a factor in importance.

2)  A buyer must also be okay with the wait (possible 4 - 8 weeks) to know whether or not you get to purchase the home. It can be hard to wait with the excitement of getting a new place but hopefully worth it. The “escrow” process, usually 30 - 45 days starts once the bank(s) agree in writing to a certain buyer. The normal in our area is a 30 day escrow. It is quite ironic right now that the banks will make potential buyers wait what feels like an eternity (8 weeks or so) but once they make a decision of which buyer gets the home, you have to close escrow on time or you (as the buyer) will be penalized a daily per diem (such as $500 daily) for closing late.

Short Sale Process after above:

Once the bank(s) gives that approval in writing, more normalcy kicks into play. The buyer gets any inspections to satisfy their needs, they just cannot ask for any repairs. If they are not comfortable with the condition of the home, they only have two choices, to back out of the purchase or go forward with the purchase. You cannot re-negoitiate any terms. Banks for REO Tracy homes & short sales in Tracy are requiring buyers to purchase “as is”, sometimes closing costs can be paid by them, possible even the home warranty will be paid too and also 30 days to close seems to be the norm.

      Hopefully that answers your questions about What is the procedure for a buyer of a “short sale” property. Call me for any clarification at (209) 321-6122 or email me at christina@christinaoneal.com

Real Estate Price Trends
The median single family home price as of February 24 2008 for TRACY is $477,498.

Price Per Square Foot
The median price per square foot for homes in TRACY as of February 24 2008 is about $202

Homes for Sale
There are about 940 properties on the market in TRACY as of February 24 2008.

The real estate market in Tracy is changing rapidly.  At 202 avg sq ft price, 940 homes for sale & median price at $477k, things are progressing in a good direction.  Interest rates are still pretty low.

Call me for your neighborhood specific statistics to help you in your own real estate evaluation of Tracy real estate at 209-321-6122, Christina O’Neal