Modesto, California Lives Up To Its Unassuming Name
by Blanche Evans
Better known as home of nationally mourned murder victims Laci and Conner Peterson, Modesto is really a nice place to live, say local Realtors. "Modesto is well known in the world due to some of the most relevant scandals and news," says Realtor Genaro Pulido, "but still it is a very nice city to live in. About the market, Pulido says, "We're experiencing growing pains. When you are riding this type of market, there is no time to take a break. Houses have increased steadily in value. In many areas, houses have increased in value in the last year more that 20 percent and up 27 percent. Still inventory is low, and demand is high. Do you want a basic home with 3 Bedrooms, 2 baths? Then expect to pay $245,000 or more. Do you want to sell? It is a great time. Do you want to buy? Hurry up before you buy less house for your money. Each month you allow to go by without taking action, you may end up paying from $3,000 to $5,000 more for a similar home." Pulido advises not waiting to save for a home. "Are you thinking about saving money to buy? You better buy now!< Let's say for instance, that you only have $5,000. You buy a house today and use the $5,000 to get into a house. Then your house increases in value about $3,000 a month during the next 24 months. So that $5,000.00 provided for you about $70,000 in equity. How much would you get in the bank if you had a CD with $5,000 for a period of 24 months at a generous interest of 3 percent? Do the math and be happy. Saving for the down payment is not the best choice in current market." "Modesto is a nice town with excellent schools, mall, shopping centers, churches of all faiths, parks and entertainment centers," says Realtor Gary Hall. "There are lots of trees and green areas around town. Modesto has a population of over 200,000. There is a new Brenden theatre complex in downtown Modesto. Modesto is in the construction stage of a new Arts Center in downtown. There is a big drive to revive the downtown area that is really working. Modesto also has an excellent mall that has just been renovated." There are lots of jobs. "Modesto is located in an agriculture area," says Hall. "There is also a lot of industrial building going on. Modesto is the home of Gallo wines and also has a large Frito Lay potato chip plant and distribution center. There is also a large Del Monte plant located in Modesto. Modesto is close to some of the best winter skiing areas in California. There are also plenty of lakes for summer camping and water sports. Modesto is close to the Bay Area that makes it easy for commuters. Modesto has 4 high schools and is building another one. The school systems are some of the best in the state." About the market, Hall suggests, "The average price of a home in Modesto is $335,000 The market is a sellers market with homes selling within a couple of days of being listed. There are around 437 homes available for sale in Modesto today. They are priced from $150,000 to over $1,000,000. There is a home for just about anybody that can purchase one. There are also hundreds of new homes being built in the surrounding areas. Homes being sold in Modesto is averaging 250 a month. This does not include new home sales. Homes under $200,000 are very rare but not impossible to find. They sell quickly." |
