About Stockton's Meadow Lake

Over the past four weeks comparing new homes market areas in San Joaquin County, the week-to-week trend seems to remain the same. The only "blip" is in Mountain House.

Manteca has added two new projects during the week which increased available inventory. Two weeks ago Mountain House added inventory which has been absorbed in sales within the two-week period.

Traffic patterns for the area projects remain lackluster. Site representatives tell us that few agents are registering clients with the projects. Sales, while not "off-the-charts" have been remaining steady throughout all projects at 10 to 12 per week.

The following information has been extracted from New Homes Sales and Marketing reporting companies and on-site visits for the week ending 11/07/10:

Focus on Stockton: Total Projects Reporting: 4: Traffic: 37; Sales: 1: Cancellations: 0; Net Sales: 1; YTD Sales: 82

San Joaquin County: Total Projects Reporting: 27; Traffic: 210; Sales: 16; Cancellations: 1; Net Sales: 15; YTD Sales: 530 (Three projects report adjusted numbers bringing annual total to: 586)

Lathrop reporting 3 projects: 0 new releases, 17 in available inventory;

Linden reporting 1 project: 0 new releases, 2 in available inventory;

Lodi reporting 0 projects: no other information available

Manteca reporting 14 projects; 0 new releases, 86 in available inventory;

Mountain House reporting 4 projects: 0 new releases, 11 in available inventory;

Stockton reporting 4 projects: 0 new releases, 32 in available inventory;

Tracy reporting 0 project: 0 new releases, 0 in available inventory;

THE NINES TEAM can arrange showings for any New Construction Project in San Joaquin County. If you are considering this homeownership option, please:

Call Toll Free: 888-868-4398

The southern San Joaquin County community of Manteca continues to be the New Homes "hot spot." No new releases were added to new homes inventory in San Joaquin County this week. On the plus side of economic indicators, both personal spending and income posted gains, out-performing expectations, according to the Wells Fargo Weekly Economic and Financial Commentary. Consumers continue being concerned about employment and income forecasts. Projections for income and employment six months from now both weakened, reflecting the slow economic growth expectation for the same time period.

The following information has been extracted from New Homes Sales and Marketing reporting companies and on-site visits for the week ending 10/03/10:

San Joaquin County: Total Projects Reporting: 25; Traffic: 198; Sales: 12; Cancellations: 2; Net Sales: 10; YTD Sales: 467

Focus on Stockton: Total Projects Reporting: 4: Traffic: 46; Sales: 1: Cancellations: 1; Net Sales: 0; YTD Sales: 71

Lathrop reporting 3 projects: 0 new releases, 16 in available inventory;

Linden reporting 1 project: 4 new releases, 4 in available inventory;

Lodi reporting 0 projects: no other information available

Manteca reporting 12 projects; 0 new releases, 98 in available inventory;

Mountain House reporting 4 projects: 0 new releases, 19 in available inventory;

Stockton reporting 4 projects: 0 new releases, 43 in available inventory;

Tracy reporting 1 project: 0 new releases, 5 in available inventory;

This week's news is another mixed review of indicators that don't seem to create a great deal of "improvement" comfort for analysts. Absent a strong motivating factor buyers will still sitting on the fence when it comes to making a home buying decision.

Sept 28 - Stockton Record, Zachary Johnson - "Government invests in fix and flip program" - Nine million dollars, approximately, has been earmarked for a San Joaquin County program to fix and flip foreclosures. The Neighborhood Stabilization Program has purchased, rehabbed and resold dozens of homes to lower income homebuyers. City Councilwoman Kathy Miller says, "The mainthing is to get those properties rehabbed and sold and get people living in those neighborhoods." However, Interim Economic Development Director, Gus Duran points out, "The foreclosure problem is so big' ... it's a drop in the bucket." Duran welcomes the funding, but indicated that foreclosed properties need to be absorbed (1700 recently in Stockton alone.)

Sept 28 - Washington, AP -"Banks to share in investment risk" Under new rules adopted by the Federal Deposit Insurance Corp., at least 5 percent of the securities must be held on their books. The idea is that banks .... will be more careful about screening borrowers.

Sept 29 - Washington AP - "Home prices rise, but experts say it's temporary" Analyst say the recent "snapshot" of home prices is temporary. That's because the peak home buying season is now ending after a dismal summer. High unemployment, buyer reluctance and foreclosure inventory all will put downward pressure on prices.

Sept - New York AP - "JP Morgan puts hold on foreclosures" - JP Morgan Chase joins Bank of America and GMAC is temporarily stopping foreclosures while documents are being reviewed to validate legal foreclosure authority. "Still, analysts don't expect the delays to reduce the number of foreclosures in the long run."

Sept 27 - Stockton Record - CLOSED listing real estate transaction for Aug 25-Sep 1 from information compiled from County records: Total sales: 111; Sales identified as Banks or REO-type: 58, with 34 different firms selling (top 3: Federal National Mortgage-11; Wells Fargo-8; Federal Home Loan Mortgage-6 ) New Homes: 2

Side note: 14 of the closings were Private Trust single sale transactions.

Focus on Stockton: Total Closed: 48; REO: 28; New: 0

This wonderful lakeside home is being held open this Sunday, 9/26 from 1:00 to 4:00 in the afternoon. Flexible floorplan features two bedrooms downstairs, including the master suite. Three more bedrooms upstairs. Lots of water .. the lake and full-sized inground pool. Lounge on the dock, or cast off and travel around the private lake ... no wakes .... no skiers .... just quiet and serene living. Hosted by Steve Ewing; he is presenting this opportunity to live on the lake. This is a short sale with a very cooperative single loan lender. Call Steve for details or for directions at: 209-663-9372.

This is a wonderful opportunity for lakeside living in the "quiet" lake of the Quail Lakes neighborhoods. This five bedroom, three bath home has been updated and remodeled, but still it is the view and water vistas that make this house a home. Master bedroom downstairs with an additional lower floor bedroom offers flexibility for casual to formal living.

LARRY WILLIAMS will be holding this home open on Sunday August 29, from 1:00-4:00. Call 209-815-3387 for details or directions.