September 24, 2005

THE REAL (ESTATE) STORY
By Larry Underhill

Owner/Broker

THIS AND THAT…Here’s a little real estate trivia for you. The floors of buildings are called stories because early European builders used to paint picture stories on the sides of their houses. Each floor had a different story.
Which reminds me of a joke I used in my very first column: "I bought a two-story house. I got one story from the Seller before I bought it, and another one…" My job is to protect my clients from this kind of real estate experience. It ain’t a joke if it really happens to you!
OPEN TODAY at the reduced price of $669,950! Statesman’s John Manguso will host an Open House from 1 p.m. to 3 p.m. today at 5201 East Woodbridge Road! This one-acre ranchette is getting a lot of interest, but we’ve been saving it for you. Huge landscaped back yard with shade trees and spacious deck! Family orchard! Oversized garage with shop area and half bath! Peaceful country living just five minutes from Lodi. Come and see!
WHICH REMINDS ME of another real estate ad quip I ran across recently: "This home is only five minutes from shopping…if you have your own plane." Not the case with 5201 East Woodbridge Road. It’s genuinely close-in!
JUST LISTED and getting showings like crazy: 700 McCoy Court, Number 18! Kitchen has been nicely upgraded in the last two years with new double sink, new counters, new range/oven, and new dishwasher! This upstairs unit also boasts a one-car garage just a few steps from the front door! At $199,950, it’s a value!
PAINTING picture stories on the sides of houses (as mentioned back at the top of this ramble) is still going on today, of course. Most homeowners don’t appreciate the artistic value of graffiti, however.
MOTIVATED SELLERS desire quick sale! These folks want to complete their move, and have priced their home accordingly! 3000 square feet! Five bedrooms! Three full baths! Three-car garage! Clean and sharp! Custom tile flooring in the kitchen and dining area! 2177 Eaton Drive is a value at the recently-reduced price of $549,950. Don’t wait! There’s action on this home, but nothing in writing as of this moment…
BUBBLE BABBLE: "There IS a bubble!" So proclaimed a real estate economist at last week’s California Association of Realtors meetings in San Diego. "There’s a bubble in news articles concerning the mythical real estate bubble!" Well said.
THE LONG VIEW: Historically, residential real estate has appreciated at a long-term average of six percent a year. That takes into consideration the years of double-digit appreciation and the years when the market sags. The long term average gain for the stock market is about ten percent. The difference is that you don’t usually leverage your stock purchase with a small down payment. That six percent appreciation turns into a THIRTY percent return if you only put twenty percent down on your real estate purchase!
GOTTA GO! Listing appointment. Have a great week! See you next Sat.

Statesman Realty
(209) 333 23801-800-407-SOLD (7653)
Website: www.larrysellslodi.com

Website: www.larryunderhill.com
Email: Larry@LarryUnderhill.com