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Seniors like mobile home parks for security, price

Seniors like mobile home parks for security, price

By BOB BALGEMANN
Business Journal writer

STOCKTON – Senior mobile home parks for many years have served as a source of housing for those opening a new chapter in their lives.

That’s especially true for senior citizens in the Central Valley, where a conventional three bedroom, two-bath house can cost $200,000-$300,000 more than a manufactured house of the same size. Mobile home living keeps a senior’s residence from take a large bite out of their savings accounts.

Realtor Gary McKenney, of Century 21 M&M Associates in Lodi, is in his eighth year of selling mobile homes. He likens senior parks to the days when wagon trains traveled the country in search of a new life. When pioneers were attacked, they circled the wagons for protection.

Residents of senior parks, especially those with gates and walls, live there in part because they like the security of a close-knit community, where neighbors look out for one another... Read More

Central Valley housing hot despite slowing

Central Valley housing hot despite slowing

The Stockton/Lodi metro area is expected to be among the top 10 highest appreciating housing markets in 2016, according to Weiss Analytics. The company provides analysis of home price indexing, forecasting, and analytics in the US.

Weiss Analytics expects 89.1 percent of homes in the metro area to gain values by Oct. 2016. That is good enough for the fifth highest percentage in the country. It is down from the 91.7 percent of houses that gained value in 2014 which ranked Stockton/Lodi third for home appreciation in the country.

In Modesto, 81.3 percent of homes gained value, good enough for seventh in the nation. That was still down from a high of 98 percent of homes gaining value in 2014. Modesto isn’t expected to rank in the top 10 in 2016 according to Weiss Analytics’s forecast... Read More

California rent cheapest in Merced, Stockton and Modesto

California rent cheapest in Merced, Stockton and Modesto

Rent in California’s Central Valley is among the cheapest in the state while Bay Area renters pay among the highest according rental search site zumper.com

Merced, Stockton and Modesto are among the cheapest places in the state to rent a 1 bedroom apartment according the site’s August California rent report.

The site found that the median rent for a 1 bedroom apartment or house in Merced was $550 per month. Renters in Stockton paid $650 while Modesto paid the most among Central Valley cities at $750 per month for a similar unit. Five of the cheapest 10 cities to live in, rent-wise, were located in the Central Valley.

The median rent for a 1 bedroom unit in California is $1,600 per month... Read More

Skipping home inspections can be a costly mistake

Skipping home inspections can be a costly mistake

Navigating the path between the dream of home ownership and getting the keys to your dream home can feel daunting, because of the countless steps in the transaction process. Sometimes it’s difficult to tell which steps are really necessary or what purpose they serve... Read More

Fewer foreclosures help Stockton, Modesto hit “sweet spot”

Fewer foreclosures help Stockton, Modesto hit “sweet spot”

The Stockton and Modesto housing markets are now in that “sweet spot” where the market is not too hot and not too cold, according the latest analysis by Freddie Mac. The mortgage giant’s  Multi-Indicator Market Index (MIMI) rated Stockton at 80.2 and Modesto at 86 with both markets improving. The state, overall, got an 87 rating.

According to the index, anything below 80 is considered weak; anything above 120 is considered elevated.

MiMi measures housing stability of local housing activity by combining current local market data in the top 100 metros in the nation with Freddie Mac data for all 50 states, plus the District of Columbia... Read More

Valley home sales figures show improvement overall

Valley home sales figures show improvement overall

STOCKTON — Home sales are up, home prices are up and homes are selling faster in San Joaquin County, according to the latest MLS figures for June.

According to statistics supplied by MLS, 684 homes closed in June. That’s up 2.2 percent from the month before and 8.18 percent from a year ago.

The median price for a home in San Joaquin County was $296,000 — 5.7 percent higher than in May and 11.3 percent more than June 2014.

Homes also spent an average of 34 days on the market, down 9.8 percent from the previous month.

Home sales news was mixed in the region’s other two counties.

In Stanislaus County, 543 home sales closed in June. That was 2.5 percent lower than in May. However it was an increase of 12.4 from a year ago.

The median price for a home in Stanislaus County in June was $249,000, up 2 percent from May and 6.3 percent from a year ago... Read More

Home prices on the rise in Valley

Home prices on the rise in Valley

MODESTO — Home prices in the Central Valley are up over last year, according to the May 2015 CoreLogic Home Price Index (HPI).

In Modesto, home prices, including distressed sales, rose 7.9 percent in May compared to May 2014, CoreLogic said.

In Stockton and Lodi, prices, including distressed sales, were up 7.6 percent, year over year.

On a month-over-month basis, Modesto home prices, including distressed sales, increased by 0.8 percent in May 2015 compared to April. Prices rose 1.4 percent between April and May in Stockton and Lodi... Read More