Dave Thurman's Real Estate Blog

Most renters who plan to become homeowners say it will be at least two years before they make the leap, and more than one out of four renters say they’ll never buy a home, according to an online survey by Harris Interactive.

The “American Dream” survey, conducted in July on behalf of property search site Trulia.com, included 1,345 homeowners and 663 renters.

Among those surveyed, 72 percent considered homeownership to be “part of their personal American dream,” down from 77 percent six months ago.

Among renters who plan to become homeowners, 68 percent said they aren’t planning to make their move in the next two years. But 79 percent of that group said they could be prompted to take action in the next 12 months if their circumstances changed.

Among that group, 47 percent said they could be spurred into action if they were able to save enough for a downpayment. Another 28 percent said a new job would be a tipping factor, while 27 percent said that if mortgage rates stay low or get lower they could be persuaded to take action.

About one in four said they needed to be persuaded that it made more financial sense to buy than rent (24 percent), and 23 percent said a job promotion or raise could get them off the fence. Only 9 percent said they are looking for signs that their local real estate market has stabilized.

The survey also found that few Americans are interested in homes smaller than 1,400 square feet or larger than 3,200 square feet.

While 9 percent of those surveyed said they would prefer a home between 800 and 1,400 square feet and 14 percent were undecided, 77 percent indicated a preference for a larger home.

Nearly half of those surveyed (49 percent) would prefer a home that’s larger than 2,000 square feet, but only 9 percent said their ideal home size is greater than 3,200 square feet.

Source: CAR

On July 31, 2010 at 10:00 AM, you are invited to our Open Office at 2652 East Main Street in Stockton. If you are looking for a Single-family property in this area, don’t miss this opportunity to visit and meet with Dave Thurman, REALTOR®. Appointments are not necessary!

• Pick up a free list of homes!
• Get pre-qualified for a home loan.
• Ask questions about foreclosures and short sales.
• Discuss agency and disclosure requirements.
• First-time buyers and investors are welcome.

Mortgage loan applications hit a 13-year low…Bank of America may lead banks in home-equity losses…Homebuyer federal tax credits expired…The lack of available funds for loans…Interest rates continue to remain near their historic lows…

Number of Homes for Sale vs. Sold vs. Pending

April 2009 there were 1370 homes for sale in Stockton, California in comparison to April 2010 where there was a decrease to 884 homes for sale. The number of homes sold in April 2009 was 643 and in April 2010 the number of homes sold decreased to 421. In April 2009 there were 726 pending sales which increased to 783 in April 2010.

More graphs and charts from our MLS and TrendVision Reports

I found this article today on Comcast while having my morning cup of coffee…guess I better lock my mortgage refinance ASAP

WASHINGTON — Rates for 30-year home loans surged last week, rising to the highest level in eight months due to the improving economy and the end of a government push to keep rates low.

The average rate on a 30-year fixed rate mortgage was 5.21 percent this week, up from 5.08 percent a week earlier, Freddie Mac said Thursday. That’s the highest since mid-August, when the average rate was 5.29 percent.  [more]

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• Rates on 30-Year Home Loans Rise to 5.21 Pct
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Image via Wikipedia

 The weekend of April 10-11 is REALTOR® Nationwide Open House Weekend.  REALTORS® and brokers across the nation are encouraged to participate in this campaign focused on increasing consumer awareness of the benefits of homeownership.  Participation is easy.  Schedule your open houses for April 10-11 and place balloons outside for potential buyers to see.  Please note this is not an NAR-sanctioned event, but was initiated by other state associations.

Nationwide Open House Weekend will enable sellers to showcase their homes for sale and potential home buyers to shop for a home while interest rates are low; home prices are affordable; there is a wide variety of homes available; and the federal tax credit is in place.

To find out more about participation in your area, contact your local association of REALTORS®.

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• REALTOR Nationwide Open House Weekend April 10-11
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• Open House Traffic is Serious Business.

House For Sale

On March 28, 2010 at 11:00 AM, you are invited to an Open House at 108 S Sinclair Avenue in Stockton. If you are looking for a Single-family property in this area, don’t miss this rare opportunity to visit this magnificent property.

Property description: Eastside Stockton 3 bedroom 1 bath home near Franklin High School. Older bungalow built in 1948 with newer carpets, granite kitchen counters and new interior paint. Includes lots of off street parking and a large well built carport. Also, includes a 2-car garage converted to a family room or guest house. The property is being sold to settle a family estate and is not a REO or short sale. Virtual Tour

For a preview of this Single-family property, check out my site at DaveThurman.com. Please do not hesitate to Contact Me if you have any questions or wish to schedule a private showing.

I have been searching the Internet, reading the local newspaper and analyzing my own recent listing / sales information trying to find something positive about the real estate market in Stockton, California and other parts of our country; but I think that I have failed!!!

• First-time buyers running out of time to use the $8000 tax credits
• Unemployment is high almost everywhere
• Americans have again lost faith in the government nationally & locally
• San Joaquin County listing inventory has decreased almost 60%
• Closed sales in the county are down 35%
• Median prices are up by over 10%

I refuse to give up…I will work weekends, hold open houses and go door knocking… just like a brand new agent! Please help me find something more positive to blog about next week. Please comment…are you out there?

As a proven real estate professional; I have often been asked why did you purchase a Realty World franchise? Especially, when many of the other larger real estate brokerages have been dropping the franchise and going independent. Well, there are many reasons…but here are a few of them.

• A successful and internationally recognized brand name
• A structured business operating system with proven technology, marketing, advertising and training
• The most successful online advertising program available in real estate
• Economies of scale on all types of products and services that are absolutely affordable for even a one-person office

The power of a brand name!

Home prices fell in November for the first time in seven months, according to a industry report released Tuesday.

The S&P/Case-Shiller 20-city home price index recorded a decline of 0.2% from October. Prices were down 5.3% compared with 12 months ago. Read more from CNN.com…