McKeever Real Estate

Today we're looking at the most expensive luxury homes in Stockton and Lodi for the month of August, 2023.

This month, our first most expensive luxury home can be found in the Morada East area of Stockton at 10775 Chantel Lane. This home boast 4 bedrooms, 4 and a half bathrooms, with 3,560 square feet, all on a single story. With an almost 2 acre lot, this luxury home included a spacious landscaped yard, with pool and outdoor kitchen, as well as a secondary shop building. The home was listed for $1,800,000 and ended up selling for $1,650,000 making it the most expensive luxury home in Stockton for August, 2023.

Heading out to Lodi wine country, we can see the most expensive luxury home for Lodi was found at 16220 North Devries Road. This two story home had 3 to 4 bedrooms, 3 and a half bathrooms, and 4,479 square feet. This home was placed on a very large lot of almost 4 acres and had a resort like backyard, with pool, spa, outdoor kitchen and bar. The home also had a very modern looking interior with sleek high end finishes. The home was listed for sale at $2,554,000 and ended up selling for the full asking price at $2,554,000.

Which of these two luxury homes makes you want to move in? Do you like the more traditional home in Morada East, or do you favor the super modern home out in Lodi? Let us know which home you liked best in the comments!

This week we've got the top energy efficient upgrades that buyers are looking for if you are thinking of selling your home.

The first upgrade home sellers might want to consider is Heating and Cooling. You want to make sure your HVAC system is working at peak efficiency and might want to think about upgrading to a higher efficiency model if needed.

The next area to look at is the Water Heater. Having a tankless or pump water heater can reduce energy consumption and could catch the eye of many buyers.

Another plus for energy conscious buyers is a Smart Thermostat. Having a system that better regulates temperature settings can result in more comfort as well as energy savings.

Rounding out our list are Attic Insulation and Energy-Efficient Windows. These will help keep your home cool in the summer and warm in the winter and will definitely be a bonus for anyone looking to purchase your home.

What are your favorite energy efficient upgrades? Let us know your thoughts in the comments!

We're taking at look at Stockton and Lodi's least expensive sold homes for the month of July, 2023. This month we're starting in the city of Stockton at 524 E. First Street. This small home was 2 bedrooms, 1 bathroom, with just 568 square feet. This house has a quaint exterior, but definitely needs some work to update the inside. The house was listed at $199,900 and ultimately sold in 38 days for $170,000.

Moving on to Lodi's least expensive sold home, it could be found at 507 1/2 S. Washington Street. Similar to the Stockton home, this house was also 2 bedrooms, 1 bathroom, with 750 square feet. This home however, had already been renovated with a new roof, new paint, and new flooring. This home was listed for $265,000. It sold in just 8 days at the full asking price of $265,000.

Which of our two least expensive sold homes appeals to you the most? Do you like the move in ready Lodi home, or would you prefer to remodel yourself like the home in Stockton? Let us know your choice in the comments!

Where are home prices going in 2023? That is the topic of today's "Did You Know Show."

We'll start to answer this question by taking a look back at what home prices did in 2022. January of 2022 saw home prices appreciating at a rapid rate with growth beginning to slow in June of 2022. Home prices then began to go down in July of 2022 as a result of interest rates beginning to rise. However, in January of 2023, we can see that home prices had begun to recover, and home appreciation was once again on the rise.

Looking at predictions moving forward in 2023, MBA, Fannie Mae, Morgan Stanley, and AEI Housing Center have all adjusted their forecasts from a drop in home prices, to an increase, or a steadying of home appreciation. Both MBA and Morgan Stanley predict neither a drop, nor an increase in home prices, forecasting an appreciation of 0%. Fannie Mae predicts a rise in appreciation of 3.9%, while AEI Housing Center is forecasting a 6% increase in home prices.

Likewise, CoreLogic and Zillow are both forecasting home prices to go up in the next 12 months. CoreLogic by 4.5% and Zillow an aggressive 6%.

Taking into account our charts, it appears that many experts are forecasting home prices to either hold steady, or slowly begin to appreciate. One important thing to note is that deceleration of appreciation is not the same thing as home prices depreciating. Looking forward to the rest of 2023 and into 2024 it seems likely that home prices will not rise as fast as they did in 2022, but they will continue to go up slightly, and not go down in the immediate future.

Where do you think home prices are going in 2023? Do you think they will go up, or do you think they will come crashing down? Let us know your thoughts in the comments!

The Stockton housing market seems to be holding steady for the month of August 2023. Let's dive into the data!

Our first chart this month shows the number of homes that came onto the housing market, how many homes went pending, and how many homes were sold. First, we do have some good news for buyers as the number of homes that came onto the housing market did go up a little bit, from 212 to 245 homes for sale. That however, is still incredibly low when compared to this same time last year, when the number of homes on the market was 548. The number of homes that went pending did rise slightly from 187 to 205, but the number of sold homes dropped just a bit, from 202 to 158. Taking a wide view of this chart, we can see that things have been holding pretty steady over the last five months or so, with little rises and dips from month to month, but no huge swings in any category.

Looking at the average for sale and average sold prices for the Stockton housing market, we see a slight drop in the average sold price during the month of July from $470,000 to $464,000. Looking further back on this chart we can see that the sold price has been holding pretty steady since February of 2023, with only one outlier month in April when home prices dropped to $428,000. Other than that one month, we see the average sold price has held steady for the last five out of six months in the $460,000 to $470,000 range.

Taking a look at what the experts think of the housing market moving forward into 2023 and 2024, we can see they have revised their predictions. Four real estate entities have changed their forecasts from negative appreciation, to either flat, or 0% appreciation, to an increase in home appreciation. Meaning they feel that home appreciation will hold steady or increase slightly continuing into the next year.

Looking at our next chart showing the asking price to sales price ratio, we can see that the number has held steady at 100%. Meaning that on average, sellers are getting the full asking price for their homes, which is another indication of a steady seller's market. The number of days on the market has also held steady at 27 days, showing that homes on the market are selling fairly quickly and for full asking price.

So taking into account all of our charts, we can see that the Stockton housing market is holding steady across the board. But, where is the housing market headed? Until interest rates drop, there is a good chance the housing market will keep chugging along at it's current rate. Without much inventory on the market, and with homes selling relatively quickly, it is unlikely we will see home prices dropping in the near future. Should the interest rates come down, that could mean more buyers in the marketplace and we could see prices begin to rise at a quicker rate. But, what are your thoughts on the Stockton housing market? Do you think we will hold steady, or do you think prices are going to drop?

Let us know your thoughts in the comments!

We're looking at the most expensive, luxury homes in Stockton and Lodi for the month of July, 2023.

Our first home can be found in the Brookside neighborhood of Stockton, at 6153 Riverbank Circle. This luxury home had 3 bedrooms, 3 bathrooms and 2,560 square feet. While this home may lack some of the higher end finishes found in a lot of the luxury homes that we have seen on this show, it is located right on the Delta with its own private dock for Delta access. The home was originally listed for $1,400,000 and after being on and off the market a couple of different times, eventually sold for $1,050,000.

Moving now to Lodi, the most expensive luxury home for July could be found at 915 W. Walnut Street in downtown Lodi. This colonial home was built in 1937 and still has much of the charm from that era. The home has 4 bedrooms, 3 bathrooms and 2,667 square feet. This home has been remodeled to give the owner all of the modern conveniences while retaining a lot of the original detail and charm of a 1937 house. The house was listed for $1,055,000 and ended up selling for $1,015,000.

Which home did you prefer this month? Would you like to live in a more modern home right off the Delta, or a more classic house in downtown Lodi? Be sure to let us know your thoughts in the comments!

Would you pay more to live in a walkable neighborhood? That is the question on today's "Did You Know Show."

A recent survey shows that "Americans are placing greater value on homes in close proximity to nearby shops, cafes and parks - and they may even pay more for such properties." 79% of people who responded to the survey rated being close to amenities as "important" or "very important."

Those in the millennial generation responded that they would even pay more to have a home with walkable amenities nearby, with 90% of them agreeing with that statement.

Would you pay more to live in a "walkable neighborhood?" How important is it to you to have restaurants, shops, and cafes nearby? Be sure to let us know your thoughts in the comments!

Today we are looking at the unicorn years of real estate on our "Did You Know Show."

The pandemic years of 2020 and 2021 were highly unusual in the world of real estate, and as a result those years have been dubbed the unicorn years. Understanding what happened during those years can help us to better understand the real estate market today.

Looking at home price appreciation, we can see that durning the unicorn years, home prices went up 11% in 2020 and 18% in 2021. In comparison, the previous years saw homes appreciating at 7%, 5%, and 4%. Fast forward to 2022 and we can see that home price appreciation is back down to 5%. This shows that home price appreciation has actually returned to a more "normal" rate as compared to the unusual rapid growth of the unicorn years.

Taking a look at the median days on market, we can see that before the unicorn years homes were on the market from 51 - 68 days. During the unicorn years the number of days was almost cut in half going down to 35 and 30 days. In the current year, the median number of days on the market is 43. Looking at all the data, we can see that homes are still selling faster than they were in 2017, it merely feels like homes aren't selling as quickly because of the unicorn years where homes were selling extremely fast.

Looking at foreclosures we see an average of just under 600,000 foreclosures in 2017 - 2019. In 2020 and 2021 there was a hold placed on foreclosures and the number dropped considerably under that average to 214,323 in 2020 and 151,153 in 2021. While it is true that foreclosures increased in 2022, the increase is still well under the average established in the pre unicorn years.

Do you believe in unicorns? Does looking at the unicorn years of real estate make you feel more positive about today's real estate market? Let us know what you think in the comments below!

This week we're looking at the least expensive houses sold in Stockton and Lodi in June of 2023, on this week's "Did You Know Show."

Our first least expensive sold home could be found in Lodi, CA. at 332 E. Tokay Street. This is a smaller house with 2 bedrooms, 1 bathroom and 936 square feet. The house has been totally renovated and looks great with two tone paint, new luxury vinyl plank floors, and new carpet in the bedrooms. The home was listed for $335,000 and sold at list price after just 14 days.

Our second least expensive sold home is in many ways the opposite of our first one. This home was located at 303 Del Norte Street. This house was a little bigger than our first home boasting 3 bedrooms, 1 bathroom, and 1132 square feet. Unlike our first home, this house was uninhabitable at the time of the sale and need extensive repair work. Much of the structure will need to be torn down and rebuilt before anyone could actually live there. The house was listed for $150,000 and received 12 offers before selling for $142,000, proving there is a buyer for every house.

Which of our two least expensive homes seems like the best deal to you? Would you like the move in ready house in Lodi, or do you like the challenge of doing a major renovation like the Stockton house? Let us know your choice down in the comments!

Is the Stockton housing market hot or not in the month of July? Let's jump into the charts to find out!

Our first chart shows some great news for sellers. Looking at the "Days on Market" chart we can see that homes were selling much faster in the month of June, as the days on market fell from 45 days down to 25 days. This means if you're looking to sell and you price your house right, it should sell pretty quickly.

Also looking at the asking price to sales price ratio, we can see that number has gone back up to 100%. Meaning that on average, sellers are getting the full asking price for their homes, which is another indication of a strong seller's market.

Looking at the average sold price in the Stockton housing market, we can see that home prices went up from $459,000 to $470,000. This is another indication of Stockton home prices being on the rise. After a softening in the market in early 2022, home prices look to have recovered and are on their way back up.

The average asking price in Stockton hit an all time high at $611,000. There are a couple of factors that may have contributed to this record high number. One is the lack of inventory on the market, and the other is a couple of high priced, luxury listings. With fewer homes on the market, one or two million dollar listings can really effect the average and pull that number up. This will be an interesting chart to keep our eye on in the future, but it would not surprise us if we saw that number start to come down.

Looking the overall inventory in the Stockton housing market, we can see that our inventory did go up, if just slightly, for 201 to 212 homes for sale. This number is extremely low. If we look back to this time last year, we can see that we have 60% fewer homes for sale. Last year there were 528 homes for sale, as opposed to 212 homes in June of 2023.

What are your thought about the Stockton housing market? How do you account for such a high average asking price? Will the average sales price continue to go up, or do you thing prices will start to come down?

Let us know what you think in the comments!

We're discussing 9 hot home design trends for summer on this week's episode of our "Did You Know Show."

According to the Houzz website, there are 9 home design trends that are becoming more popular this summer, and we've got them here for you.

The first design trend is a basement refinish. Houzz found that many of the site's visitors were looking to refinish their basements to add some extra square footage and fun space to their homes.

The next design trend found people looking to the opposite part of the house and researching rooftop lounging. Many Houzz users were looking to add some recreational space to their homes by adding a rooftop deck.

Next up was bathroom accessibility. Homeowner's were looking to make their bathroom spaces more open, with features that they would find useful as they got older, helping them stay in their homes longer.

Industrial style kitchens was the next home trend, with many homeowners preferring a kitchen that looked ready to get to work, rather than just a pristine all white kitchen.

The fifth design trend was similar to the fourth, and was entertainment kitchens. With the kitchen being the heart of any house, many homeowners wanted to open up that space and make it accessible for people to gather and be entertained.

The next trend heating up this summer, is carving out some space. Going counter to the trend of "opening everything up," some homeowners have been searching for a way to get some privacy back to certain spaces, such as home offices, by putting in some sort of dividers to make each area somewhat separate.

Homeowners have also been taking a look up at the ceiling in this next hot trend. Painted and textured ceilings have been on the rise when people are looking to give their home a new look.

Another trend for homeowners this summer has been historical revival. People have found some interest in mixing contemporary elements with more historical and classic architecture.

Finally, homeowners have been looking to the outside and enhancing their outdoor spaces. Even small yard were included with searches for small or plunge pools being researched for summer.

What was your favorite trend on this list? Would you consider refinishing a basement or painting a ceiling? Let us know in the comments!

On today's "Did You Know Show" we're taking a look at the most expensive sold houses in the cities of Stockton and Lodi for June, 2023 and we think we might have just seen the best house of the year!

The first most expensive sold house on today's show could be found in beautiful Morada Estates neighborhood. This house seems to have it all with one and a half acres of land, swimming pool, putting green, RV garage, and even a seperate studio apartment. This home also boasts ample natural light with large windows and a beautiful updated kitchen. The home was listed for $1,350,000 and ultimately sold over asking price for $1,400,000. We know the new owners have to be excited to start living in this beautiful property.

The most expensive sold home for Lodi this month was located in Lodi wine country on a nearly 5 acre plot of land. This home also had some nice outdoor landscaping, as well as a swimming pool. What made this property unique was that this home was also a horse property with a four stall barn ready to house any horses. The house was listed for $1,399,000, and ended up selling for $1,150,000.

So, which of the two most expensive sold houses was your favorite? Would you choose the Stockton home in Morada East, or would you prefer the horse property in Lodi?

Let us know your thoughts below in the comments!

This month we are officially back to a sellers market in the Stockton housing market update for June of 2023!!

The most important number to look at, on our first chart, is the number of homes that came on the market. This number went even down further from last month. It fell from 202 down to 201, which is an all time low for the Stockton housing market. Other changes see the pending sales going down slightly this month, from 237 to 233. The number of homes sold in Stockton went up from 165 to 228, most likely as a result of all the pending homes we saw last month.

When we look back to this time last year, we can see that the number of homes on the housing market was much higher, at 379 homes, as compared to 201. Showing that the number of homes available to purchase in Stockton is much lower than usual. This has brought back multiple offers on homes and will continue to stabilize, if not raise, home prices.

Looking back at a fifteen year chart we can see just how low the inventory levels have fallen. This month, the number of homes on the market is at the lowest point on this entire chart. Again, this emphasizes just how few homes are on the Stockton housing market and confirms we are indeed in a seller's market.

Taking a look at home prices across the country, we can see that prices overall have begun to to gain some appreciation. After dropping in the months starting in July through December of 2022, January of 2023 saw prices begin to rebound and slowly tick up over the next four months.

Looking at home prices here locally, we can see a similar trend. The average sold price of homes in Stockton began to go down in July of 2022, hitting a low point of $422,000, but in February prices began to recover going up to $458,000 last month.

This trend continues as we look at the average list price to sales price ratio. We can see that the last four months this ratio has continually ticked upwards moving from 92% up to 99% last month.

Days on market are also down as compared to a few months ago. Last month homes were on the market for 46 days. We expect this number will continue to go down as inventory shrinks and competition among buyers becomes more intense.

What do you think about the Stockton housing market? Do you think prices will continue to go up? Is there still plenty of buyer demand to keep the housing inventory low?

Let us know what you think in the comments!

When is the best time to sell your house? That is the question we are going to answer on this episode of the "Did You Know Show."

It's almost impossible to time the housing market perfectly, but when thinking of selling a house, many people think the best time to do so is in the spring or summer months. That is when the most home buyers are traditionally out looking for a home to purchase. However, there is also more competition during those months. So, the best time to sell your house is when others are not. By putting your home on the market when other potential home sellers are not, your house will stand out in the market place, driving more home buyers to your door. This spring the number of homes is lower than usual, with only 392,016 homes for sale compared to over 550,000 in years past.

What is causing this shortage in homes on the market? It may have something to do with the interest rates. Many homeowners may have locked in a mortgage rate at 3 or 4 percent, and are unwilling to sell their homes and take on a new mortgage at a higher rate. But with the number of homes on the housing market being low, that means there will be more competition to purchase the homes that are on the market.

So with the housing market inventory being low, that could mean the best time to sell your house is now.

Do you think now is a good time to sell your home? When would you sell your house to get the best results? Let us know your thoughts in the comments!

On today's "Did You Know Show" we're taking a look at the most expensive sold houses in the cities of Stockton and Lodi for May, 2023.

The first most expensive sold house on today's show could be found in beautiful Morada Estates neighborhood. This house was on a good sized acre and a half lot, with 4 bedrooms, 3 bathrooms and a total of 3,543 square feet. The interior of the house was open and bright, and outside you will find a park like backyard complete with koi pond and Japanese themed landscaping. The home was listed for $1,195,000 and ultimately sold for an even $1,000,000 with two offers.

The most expensive sold home for Lodi this month was all about the land. This property had 18 acres, with 17 of those acres being olive trees. The house itself was 4 bedrooms, 3 and a half bathrooms with 2,993 square feet. The house was a little dated having some finishes original to the 1990's but still had some beautiful hardwood floors and large windows for lots of natural light. The property was listed for $1,530,000 and ended up selling for $1,300,000 with an all cash offer.

So, which of the two most expensive sold houses was your favorite? Would you choose the Stockton home in Morada East, or the olive orchard home in Lodi?

Let us know your thoughts below in the comments!