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• Loitering debate in Lodi

• New rules in Lodi

• Selling a Lodi home in 2007? Make sure price is right

• Galt council aims to expand borders; approves 223 townhome development

• Lodi police close case against late Lodi priest

• Regional Roundup

February 8th, 2010

• Public Meetings

• Locals pick best, most memorable Super Bowl commercials

• Regional Roundup

February 6th, 2010

• The Home Depot hopes to join Costco at Reynolds Ranch

• Meet Larry, Curly and Moe

• Baboon business

• Regional Roundup

• Several Lodi venues let you watch the Super Bowl in style

• Lodi Library celebrates 100 years of serving the community

• Culinary craft

February 5th, 2010

• Kids, teachers help Haiti by collecting pennies for Learning Link

• Lodi, Galt students reach out to help Haiti earthquake survivors

• Tasered suspect claims he is Yosemite Sam

• Hours of sweat and work go into putting on crab feeds

• Things looking up for state's real estate

• Correction

• Regional Roundup

• Stray bullet strikes Lodi home; police suspect gang activity may be factor

February 4th, 2010

• Managers at Geweke Toyota answer questions about recall

• Lodi City Council votes to replace play structure at Century Park

• Lodi extends ban on pot shops for another year

• Mokelumne River triathlon set for June

• Family, friends to run half-marathon in memory of Galt family

February 3rd, 2010

• Correction

• Regional Roundup

• Delta College trustees again collide over stipend committee

• Lodi-area senators Dave Cox, Lois Wolk admit to gifts; Tom Berryhill case pending

• Lodi Unified School District president issues warning to speakers over cuts

• Galt City Council avoids budget cuts — for now

• New Lodi Memorial Hospital emergency room opens to the public without a hitch

• Bad bugs, weeds are hot topics at Grape Day

February 2nd, 2010

• Big rig plows 7 cars

• Local business leaders say tourism, Costco, Home Depot may play roles in city's future

• Former Lodian Erica Davis is first paraplegic woman to summit Kilimanjaro

• Jumpers across California

• Correction

• Regional Roundup

• No snow leopards, otters for Micke Grove

• McNerney leads in campaign cash

• Police: Train victim was a Lodi teen

February 1st, 2010

• Find cuddly alpacas not too far from Lodi

• Public Meetings

• Patients can expect faster, better service when Lodi Memorial Hospital's new emergency room opens

• Man killed by Amtrak train in Lodi

The following stories have received the most reader comments during the last 7 days.

• President Obama's first year (67)
• Will terrorists be given Miranda warnings? (67)
• Lodi Unified School District president issues warning to speakers over cuts (64)
• Local business leaders say tourism, Costco, Home Depot may play roles in city's future (58)
• Islamic symbol in mosaic — what is all the fuss? (49)
• Writer comments on Neely column (42)
• The Home Depot hopes to join Costco at Reynolds Ranch (39)
• Police: Train victim was a Lodi teen (32)
• We need to conduct respectful conversations (30)
• Tasered suspect claims he is Yosemite Sam (25)

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Selling a Lodi home in 2007? Make sure price is right

Sellers will be adjusting home prices to accommodate for a slowing housing market in the coming year.

And buyers will have more options than they've had in nearly a decade, according to analysts.

Realtors in Lodi are maintaining a positive outlook, with the expectation that a large menu of loan choices, decreased home prices and a low mortgage rate will encourage buyers to invest in a home.

But the real key to doing well in the slowing market is for sellers to adjust home prices accordingly, said Larry Underhill, the incoming president of the Lodi Association of Realtors.

Underhill compared the housing market to a balloon that has slowly been losing air, rather than the proverbial bubble bursting.

There has been some scare that there will be a housing collapse similar to that of the early 1990s, but Underhill said that isn't the case. Currently there is about a 7-month supply of homes in California, compared to a record-high inventory of 20 months in the early '90s.

He said buyers are still showing a lot of interest in the Lodi area, so he expects 2007 to be a good year for Realtors if sellers maintain reasonable pricing.

However, affordability could still be an issue for those looking to move to California from out of state, said Robert Kleinhenz, deputy chief economist for the California Association of Realtors.

He said the Central Valley, which extends from Sacramento to Bakersfield, will fare better than other parts of the state because of a comparatively low median price of $340,000. Statewide, the median home price lies at $550,000.

While this makes Lodi more appealing to Californians, it can be daunting to those looking to move from out of state, where the median home price remains $220,000.

Kleinhenz said the cost can be prohibitively expensive for first-time homebuyers. But the recent increase in condominium and town home development provides an affordable solution for those seeking a long-term investment in real estate, he added.

Forecasts predict a 7 percent decrease in home sales in 2007, which can be considered a relief when compared to the 23 percent decline seen in 2006, said Kleinhenz.

"But remember, this is following record high sales in 2004 and 2005," he said. "This is a normal real estate cycle."

For renters and landlords, a similar slowdown is expected, according to Eileen St. Yves, who sits on the board of the San Joaquin County Rental Property Association.

She said it can be difficult to find qualified tenants because lower income families are buying homes. In addition, there are more rental properties available because those who can't sell their homes often turn their home into a rental property as a way out.

St. Yves said that just as with selling a home, landlords should price their rentals for a slowing market.

She said to do some research before pricing a rental property. Check other rental prices in the area, crime rates and income levels to make the property more affordable, she said.

If a rental property is priced the same in a less desirable neighborhood as in a good location, it probably won't rent, St. Yves said.

"In 2007, the most important thing anyone can do is price right," she said.

Contact reporter Rebecca Adler at rebeccaa@lodinews.com.

First published: Wednesday, January 3, 2007