Weekly Tuolumne County Market Statistics

Week Ending 5/11/08:

Residential
Active: 538 Avg. DOM: 148
Pending: 78 Avg. DOM: 94
Sold Last Wk: 5 Avg. DOM: 125
Sold YTD: 128 Avg. Dom: 158

Mobile Homes/Manufactured
Active: 80 Avg. DOM: 140
Pending: 5 Avg. DOM: 96
Sold Last Wk: 0
Sold YTD: 21 Avg DOM: 119

Lots/Land
Active: 285 Avg. DOM: 227
Pending: 11 Avg. DOM: 145
Sold Last Wk: 2 Avg. DOM: 279
Sold YTD: 30 Avg. DOM: 113

Thanks to Linda Olson, Realtor with Prudential California Realty, Sonora Office. Linda can be reached at 209.533.3333 ext. 122, linda@pcr1.com

Weekly Tuolumne County Market Statistics

Residential Homes:
Active: 530 Average Days On Market: 146
Pending: 71 Average Days On Market: 93
Sold last week: 9 Average Days On Market: 147
Sold YTD: 123 Average Days On Market: 160

Mobile/Manufactured Homes
Active: 72 Average Days On Market: 144
Pending: 7 Average Days On Market: 91
Sold last week: 2 Average Days On Market: 105
Sold YTD: 21 Average Days On Market: 105

Lots/Land
Active: 284 Avg. DOM:231
Pending: 13 Avg. DOM: 127
Sold last week: 0
Sold YTD: 28 Avg. DOM: 291

Information posted by Linda Olson, Sales Associate. To contact Linda, call 209.533.3333 ext. 122 or email linda@pcr1.com

THE LATEST FROM N.A.R.

The following was just released regarding existing home sales stats in February from the National Association of Realtors (N.A.R.)

"WASHINGTON, March 24, 2008 -
Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.9 percent to a seasonally adjusted annual rate (1) of 5.03 million units in February from a pace of 4.89 million in January, but remain 23.8 percent below the 6.60 million-unit level in February 2007. The sales pace has been in a fairly narrow range since last September.
Lawrence Yun, NAR chief economist, said the gain is encouraging. “We’re not expecting a notable gain in existing-home sales until the second half of this year, but the improvement is another sign that the market is stabilizing,” he said. “Buyers taking advantage of higher loan limits for both FHA and conventional mortgages will unleash some pent-up demand. As inventories are drawn down, prices in many markets should go positive later this year.”
The national median existing-home price (2) for all housing types was $195,900 in February, down 8.2 percent from a year earlier when the median was $213,500. Because the slowdown in sales from a year ago is greater in high-cost areas, there is a downward pull to the national median with relatively fewer sales in higher priced markets....Existing-home sales in the West slipped 1.1 percent to an annual rate of 920,000 in February, and are 29.2 percent below a year ago. The median price in the West was $290,400, down 13.4 percent from February 2007."

Locally, the market has picked up in Calaveras and Tuolumne counties. Although the prices are still dropping slightly, the numbers of listings has stabilized, and the Homebuyers are on the increase. Interest rates are still very good, so what are you waiting for? If you're thinking of purchasing a home in the Sierra Foothills anytime in the next year, don't hesitate--it may not get much better than it is right now!

Market Conditions

Real Estate is alive and well inTuolumne and Calaveras counties! Based on MLS statistics the pricing continues to drop slightly, the number of listings in both counties is up, and the days on market have dropped significantly since February 2008. In addition, the interest rates are still great. All this means is that there's no time like the present to be purchasing Real Estate in the Gold Country! Prices may not go much lower, we're beginning to experience multiple offers, so what are you waiting for? A year ago we could hardly find a residential listing under $300K, but now there are many, so if you're a first time homebuyer, I certainly wouldn't wait much longer!

Wintertime in Yosemite Park

If you've never experienced the beauty and serenity of Yosemite National Park in the winter, now's the perfect time! The roads in and out are always plowed, but the beauty of the snow in the high country as well as the valley floor is just breathtaking. Take advantage of this time of year--take a picnic lunch, or dine at the Awahnee Hotel, which is always delightful. The park service provides information on many winter activities, such as special snowshoeing excursions, and you can always explore on your own. You might experience some travel delays coming from Tuolumne County due to road construction in the valley, but the wait is worth it. Enjoy!

Woody Guthrie's American Song

"This Land is Your Land" ~ Woody Guthrie. Wow! If you didn't already know it, live theatre is alive and well in Tuolumne County! The play "Woody Guthrie's American Song" premiered last week at Sonora's Stage 3 Theatre, and this is one you don't want to miss! This is truly an American celebration of America as seen through the eyes of its great folksinger. The play takes us through Woody's life during the Great Depression and his travels from the south to the west and to the east. His writings and songs paint quite a picture of the times and struggles of his time, but still have many meanings for today. Songs and writings by Woody Guthrie, conceived and adapted by Peter Glazer. Woody is portrayed by Jeff Cooper (The Searcher), Hoyt Cory (The Folksinger) and Richard Scholer (The Writer). All three performances are strong and inspiring, and the other members of the cast, Lillian McLeod (Woman), and Christy Nava (Young Woman) add even more depth to an already talented group. Backup instruments are provided by Rick Barlow and Ron Cotnam. You won't want to miss this one, and you'll surely remember many of the songs, such as "Hard Travelin'", "Bound for Glory", "The Reuben James", "Nine Hundred Miles", and of course "This Land is Your Land". The play runs through March 23, and you can call the box office at 209.536.1778 for your tickets.

Strategies for Selling a Vacant Home

As the real estate market in Tuolumne and Calaveras counties continues to stabilize, sellers may find that their property remains on the market significantly longer than the days of “list today, sold tomorrow.” There is also more competition for buyers. So, it can be frustrating to put your home on the market, expecting a fast sale, only to find that after six months you’re still waiting for an offer. This is especially true if you need to move quickly and leave your unsold home vacant.
Besides creating a marketing challenge, a vacant home can also be a target for vandalism. Here are strategies you can use to hasten a sale and protect your property during the process.
· Instead of producing a spacious appearance, an empty room tends to look smaller than a furnished room. So, leave behind a few select pieces of furniture and keep the window treatments in place. A chair or lamp on a small table will confer a sense of scale and help potential buyers gauge whether their furniture will fit the space.
· If you decide to remove the furniture, have the house cleaned and painted. Furniture, rugs and decorations tend to hide or minimize imperfections. When furniture and artwork have been removed, every blemish and bruise becomes accentuated, faded paint and wallpaper become more noticeable and scratches and nicks stand out.
· Repaint brightly and boldly colored rooms to a neutral tone. What was an eye-popping room when fully-furnished may appear stark and small when empty.
· To thwart unwelcome visits, give the house a lived-in look. Set a couple of lamps on timers, and ask a neighbor or friend check on the house daily to collect mail, park a car in the driveway, and close and open drapes and windows. Continue using a gardening service or hire someone to cut the grass regularly. During the winter months, arrange to have snow shoveled from the walks and driveway.
· If available, consider employing a home manager or house sitter. At little or no cost to homeowners, the house is furnished and decorated for show-to-sell condition. Most companies require home managers to mow the lawn, shovel snow, even pay pool maintenance and utilities. Having someone living on site discourages vandalism, protects against deterioration and weather hazards and may even reduce insurance costs. (Check with your insurance carrier.)
· Leave the utilities connected. Depending on the season, make sure the thermostat in the house is set at a comfortable level. You don't want a potential buyer to run through the home because it is too hot or cold.
· Review your homeowner's insurance policy with your insurance agent to find out what the stipulations and coverage pertain to your vacant home.
· Find a real estate professional with experience selling vacant houses. Often, these sales professionals specialize in relocation. You want to make sure that you are comfortable with your lines of communication. If you will be residing in another town, come up with an agreement on how often your representative will check on the home and what should be done if a problem develops.
Although a vacant house presents certain challenges, it does not need to be difficult to sell.