Serving families along the San Joaquin Valley Since 2020

Hello and welcome once again to my weekly market update report!

Today marks an exciting opportunity as the doors have opened for applications to the 20% down grant with the California DREAM FOR ALL program.

If you're planning to become a homeowner in 2024, don't hesitate to reach out to us today! This program offers a fantastic chance to secure your dream home, but do keep in mind that funds can be allocated swiftly, and there are specific guidelines for first-time buyers to meet for approval.

Let's embark on this journey together, navigating the ever-evolving landscape of the housing market with confidence and expertise. Reach out to us today, and let's turn your real estate aspirations into reality.

CalHFA Dream For All is Back

CALLING ALL BUYERS INTRESTED!

*The registration portal is open April 3rd, at 8:00 AM and close April 29th at 5:00 PM

The Dream For All Shared Appreciation Loan is a down payment assistance program for first time home buyers to be used in conjunction with the Dream For All Conventional first mortgage for down payments and/or closing costs.

Upon sale or transfer of the home, the homebuyer repays the original down payment loan, plus a share of the appreciation in the value of the home.

Offers up to 20% for down payment or closing costs, not to exceed $150,000

Homebuyer must register for a voucher. A randomized drawing will select registrants who will receive the voucher.

This will not be first come, first served.

Borrower(s) must be first-time homebuyers

At least one borrower must be a First-Generational Homebuyer:

Cannot have held an ownership interest in a home, been on title, or named in a mortgage in the past 7 years

Homebuyer's parents do not have any present ownership interest in a home in the United States

Borrower(s) are eligible for 20% or $150,000 in assistance - whichever is less

Pre-approval is the first step in the process. You cannot shop for a home until you register with CalHFA and are chosen through the lottery system in Spring 2024.

*If you or someone you know is interested in this first time home buyer program, hit reply to this email.

Let's dive into the latest statistics shaping our local real estate market. From analyzing housing inventory trends to understanding current mortgage rates, we're dedicated to providing you with the insights necessary for informed decision-making.

Whether you're considering buying, selling, or investing in real estate, our team at Berkshire Hathaway HomeServices is committed to guiding you towards success in achieving your real estate goals.

Here's a breakdown of the residential market in San Joaquin County:

- For Sale: There hasn't been any change in the number of properties available for sale, maintaining at 544 from the previous month as of 3/1/24.
- Sold: There has been a significant increase in the number of properties sold, rising to 26 from the previous month's 12, marking an impressive 116.7% surge.
- Pending: Similarly, pending sales have shown a notable increase, with 27 properties pending, reflecting a robust 68.8% rise from the previous month's 16 pending sales.

- Average Price per Square Foot: Currently standing at $307.00.

- Average Listing Price: Showing a noteworthy increase to $757,000 from $717,000, indicating a 5.6% rise.

- Average Sold Price: However, there's been a decrease in the average sold price, dropping to $579,000 from $689,000, marking a decrease of 16%.

- Average Days on Market (DOM): The average DOM has decreased significantly to 30 days from 46 days, representing a notable decrease of 34.8%.

- Market Analysis: San Joaquin County is currently experiencing a seller's market, with only 1.4 months of inventory available, compared to 2.9 months last month, showing a substantial decrease of 51.3%.

In conclusion, these figures reflect the dynamic nature of our local real estate market. If you have any questions or require further analysis, feel free to reach out to us anytime.

We're here to provide you with the expertise and support needed to navigate through these market trends and make the best decisions for your real estate endeavors.

Only at Berkshire Hathaway HomeServices! 

Our unique Cash Buy Program, Leverage, is designed to put power back in your hands, and help you win the home of your dreams by giving you an extra edge over the competition.

Shop for your new home with less stress and more confidence, knowing that you're in charge of the process with a guaranteed cash offer.

Make your offer stand out: Be ready with cash when the right home comes on the market.

Save time and money: Cash offers are accepted 4x more than a financed offer, and can save you up to 12% on the purchase price.

Shorter close and faster gains: Get the keys to your new home in as little as 14 days, and start capturing market appreciation in your home right away.

It's as simple as getting approved, making a cash offer and closing on your new home.

To find out more information about Leverage, call or email me. 

Thank you for taking the time to read this email today.

I am truly blessed to have such amazing client's and friends like you!

Let me know if you have any questions or if there is anything in the world that I can do for you today or in the future.

Have a great day! 

Sincerely, Eric Fideldy 

Your FOREVER agent