STAR Test Results Solid in Calaveras, Tuolumne Counties

The Union Democrat, Thursday, August 14
"The California Department of Education released the results of the spring STAR tests and, for the most part, Tuolumne and Calaveras county schools performed better than their state counterparts.
Each county improved in the majority of areas — but both declined in others, like geometry. The Standardized Testing and Reporting tests cover several types of math, including general mathematics, algebra I, geometry and algebra II.
Tuolumne and Calaveras county students scored better than California as a whole in English-language arts, with the exception of second- and third-graders in Calaveras County. Local schools also scored lower than California in general math in eighth-grade and algebra I in eighth and 11-grades (and 10th in Calaveras). "

Congratulations to the local students and schools! For more detailed information regarding the test results, contact us at info@pcr1.com or 209.352.8289.

TCAR Mid-Year Stats

The Tuolumne County Association of Realtors has just posted the statistics January through June 2008, 2007, 2006 for comparison

2008

Residential

Sold - 202

Avg. Price - $324,079

Median Price-$287,000

Avg. Days On Market - 149



2007

Residential

Sold - 263

Avg. Price-$371,896

Median Price-$331,000

Avg. Days on Market-144



2006

Residential

Sold - 308

Avg. Price - $382,357

Median Price - $347,000

Avg. Days on Market - 134



2008

Land

Sold - 40

Avg. Price - $166,925

Median Price - $148,500



2007

Land

Sold - 38

Avg. Price - $243,723

Median Price - $172,000



2006

Land

Sold - 72

Avg. Price - $229,396

Median Price - $140,000

It goes without saying that we are still in a Buyer's Market here in Tuolumne County, but the "bargains" may not be around forever. Keep in mind that the interest rates have been increasing slightly, and the experts will tell you that when the interest rates begin to climb, the Seller's Market won't be too far behind. So, if you've been putting off that home purchase, thinking that prices will probably go even lower, balance that with the increase in interest rates, and NOW might be just the perfect time to buy.

Best of Tuolumne County

Once again, for the 3rd year in a row, Prudential California Realty was voted Best Real Estate Company in Tuolumne County by the readers of The Union Democrat! Thank you, Tuolumne County, and all of our loyal clients for your faith in us.

At Prudential California Realty we constantly strive to be the best, and we're honored that you think so, too!

In surveys conducted of our clients, we have a 98% satisfaction rating.

Our core values include being worthy of our clients' trust, being customer focused, having respect for each other and accepting the challenge to be a winning team.

Thank you again, and we look forward to working with you all in the future!

Tuolumne County Market Conditions

The Angels Camp market is in a "Buyer's" market, with currently 175 Residential listings, and a median price of $399,900. Average Days on Market is currently 124, and is improving. Home prices have dropped in the past year, but are levelling off.



The Arnold Real Estate market is thriving. Prices have dropped in the past year, but are beginning to level off now, and we are in a "Buyer's" market. There are currently 241 Residential listings, median price $399,000, and the average Days on Market is 114, and is improving.



The Real Esate Market in Jamestown and the surrounding area has been thriving the past few years, setting record-level prices.Prices have dropped in the past year, and we are in a "Buyer's" market. There are currently 65 Residential listings, with an average sales price of $387,402, median sales price of $309,000, and 156 average days on market.



The Real Estate Market in Sonora and the surrounding area has been robust the past few years, setting record high prices. Today the market has shifted into a "Buyer's" market, prices have dropped, but are beginning to level off. There are currently 317 Residential listings, with an average price of $449,254, median price of $379,000, and average days on market 150.

Mortgage News

WASHINGTON (Associated Press) - The Federal Reserve has adopted a new plan intended to curb shady lending practices that sent home foreclosure rates to record highs.

The plan will:
●Prevent loans made without documentation of borrower's income
●Require lenders to escrow money to pay taxes and insurance for risky borrowers
●Limit - and, in some cases, ban - prepayment penalties
●Prohibit lenders from making a loan without considering a borrower's ability to repay a home loan from sources other than the home's value
●Require mortgage advertising to contain information about rates, monthly payments and other features of the loan
●Require that lenders credit a mortgage payment to a homeowner's account on the day it is received
●Forbid brokers and others from "coercing or encouraging" an appraiser to misrepresent the value of a home.

Most of the rules take effect Oct. 1. Escrow requirements will take effect April 1, 2010.More information is available on the Federal Reserve Board's website.

Hopefully these new rules and regulations will help the consumers in the future when it comes to making more educated decisions on their loans.