Is the Modesto Real Estate Market Welcoming Newcomers with Modest Financial Possibilities?

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Modesto is one of those cool, vibrant California cities that never give you time to get bored. Regardless of which interests, hobbies and activities convince you to get out of bed every morning, Modesto will fuel your passions and give you something new to talk about on a daily basis. But the most important question that is probably tormenting you at this point is this: should you consider Modesto a great vacation destination, or should you actually make the first steps towards relocating to this city? Naturally, this dilemma triggers a series of additional concerns, like for instance: Would I be able to pay rent for a 3-bedroom house big enough to accommodate my entire family? Would it be wiser to rent or buy a place in this area? The good news is that you can find the most accurate answers to all these questions by simply taking a closer look at the most recent Modesto real estate trends.

Things That You Should Know about Modesto Home Standings

At this point, according to the statistics provided by Trulia, there are 463 homes for sale in Modesto. If you hurry up, you could attend almost a dozen open houses and increase your odds of finding the place that is just right for you. In addition, you should also know that the competition is pretty high, taking into consideration the fact that 2,220 properties have been sold recently in this area. This city also encompasses around 739 foreclosures and encourages you to contemplate a wide range of well-established houses and apartments that may meet your selection criteria.

Is the Modesto Real Estate Geared Towards the Needs and Possibilities of Families on Average Income?

These numbers bring us to the fundamental question listed above: could you actually afford to live in a Modesto-based house? According to the latest estimates unveiled by Trulia, the average price/square foot in this city is $135 and reflects a 15.4% increase compared to the values recorded last year, during the same period. The median sales price is estimated at only $203,205 (based on the data collected by Trulia after more than 700 home sales finalized in Modesto). The median home sales price has witnessed a growth of 16.1% (the equivalent of $28,250 dollars), compared to the numbers reported last year. All these indicators point in the same direction, suggesting that most American families that count on a constant source of income may have high odds of owning a property in Modesto in the near future. A little bit of research conducted to uncover the secrets of the local real estate market will make you realize that you could find 3-bedroom homes for rent ranging from $900 to $1,200 and up, depending on their specific location, condition and amenities.

When you feel like you don’t have a clue about how the local rental market works, remember that it is perfectly OK to ask for help. Rely on the skills, connections and expertise of Apartment Hunterz to move in your new home as soon as possible.

07
Nov 2014
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POSTED IN Market
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