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Replies (5)
- Rocky G.H. Hawrysz, "Rocky G.H. Hawrysz"
- Contributions:125
Great question!
Currently there is low supply and high demand for desirable homes in Manteca. It's not that way across the board, but depending on what your looking for and your price range, it can be tough.
This is also happening in other cities within California and beyond. It's important to recognize where prices were a few yeas ago and since prices are significantly lower today, the motivations for not selling and keeping a home.
Supply and demand has changed and continues to change and shape today's Real Estate market.
My suggestion, would be to modify your price range, desired home configuration (bed/bath count) and be flexible with the desired condition. In other words broaden your search criteria and I know you'll find something you'll like.
I hope this helps you.
Rocky
Currently there is low supply and high demand for desirable homes in Manteca. It's not that way across the board, but depending on what your looking for and your price range, it can be tough.
This is also happening in other cities within California and beyond. It's important to recognize where prices were a few yeas ago and since prices are significantly lower today, the motivations for not selling and keeping a home.
Supply and demand has changed and continues to change and shape today's Real Estate market.
My suggestion, would be to modify your price range, desired home configuration (bed/bath count) and be flexible with the desired condition. In other words broaden your search criteria and I know you'll find something you'll like.
I hope this helps you.
Rocky
- sunnyview
- Contributions:25139
I'm not sure that I agree, there is a current interruption in the foreclosure pipleline with a backlog waiting to be listed. Those houses in many areas sound like they are headed for the market in about December from what I read.
There is no hurry. You need to keep your eye on the market, make sure your finances are ready to buy and look for the house you want not accept a house that is for sale now. Bidding wars and fake urgency is so bubble and any buyers that buy into that in Manteca or any central CA city are in for a potentially rough ride. Buy the right house not the right now house.
There is no hurry. You need to keep your eye on the market, make sure your finances are ready to buy and look for the house you want not accept a house that is for sale now. Bidding wars and fake urgency is so bubble and any buyers that buy into that in Manteca or any central CA city are in for a potentially rough ride. Buy the right house not the right now house.
- Rocky G.H. Hawrysz, "Rocky G.H. Hawrysz"
- Contributions:125
It may be true that there's a shadow inventory. But lessons have been learned as to what happens with price when you dump several homes on the market at once. Lenders understand that better than anyone. I could be wrong, but believe it will be a controlled release. The underlying motivation may be to increase price and recover this market. In my humble opinion, I would keep looking and if you find the right one (or a variant) , pursue it. The interest rates are great!
- jumpindick
- Contributions:5
Thank you Rocky and Sunnyview. I appreciate your comments. We are seeing some tough competition for a price range of 230K to 260K. We belive it is a very good range for Manteca, CA. But as you both mentioned, we will keep looking. It is a great advise that buy a right house and not right now house. Much appreciated.
Thank you.
Thank you.
- Brad Young, "Brad Young1"
- Contributions:26
Manteca is my home and the majority of the homes I sell are in Manteca. New listings continue to come onto the market in Manteca, but the nice ones are bid on and sold right away. Only the homes that need work and the ones that are overpriced stay on the market for a long time. The average Days on Market is around 60 days. The average price remains around $170-$175,000, down from around $185,000 about 12-18 months back. In spite of the lowest interest rates in years there is not enough demand for the prices to go up. You will face a bigger challenge if you need to get a home in FHA lendable condition as many of the bank owned homes do not measure up to FHA standards. The best thing to do is to work with a local Realtor that understands the market and will be able to get you into those new listings quickly.
Brad Young
PMZ Real Estate
[contact information removed by Zillow moderator]
Brad Young
PMZ Real Estate
[contact information removed by Zillow moderator]
What's up with Manteca Realestate market?
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