With over 23 years of experience in real estate, Victor Barraza of PMZ's Carpenter Office in Modesto brings to his job a deep understanding of the Modesto-area market as well as a commitment to help clients buy or sell property in a way that fits their personal needs.
Barraza explains, "When I take a listing, in addition to a contractual agreement, I also make it a personal commitment to get the my client’s home sold. Other Realtors® might just list it, put it on the Multiple Listing Service, put up some flyers, and wait for the calls to come in. I take more of a proactive approach to marketing my listings and to get the property info in front of buyers' faces. I make it my responsibility to get the property sold and in a way that suits the needs of my clients."
One of the highest volume sellers at PMZ where he's been for over eight years, and also one of the highest volume sellers at his previous firm, Barraza has made a name for himself selling properties at both ends of the price spectrum, as well as everything in between. As he describes, "Some Realtors® specialize in a certain price range, just high-end for example. But for me, I've been successful representing buyers and sellers in every price range. Today I may be helping someone buy their very first home at an entry-level price, tomorrow I may be selling a house at the high end of the market at over a million dollars. Quite frankly... that’s part of what makes this job so interesting for me. Totally different types of clients, different needs, different price range, different type of personal satisfaction for me. When it comes right down to it, all my clients have the same goal... to get their family into a great home."
Of crucial importance to Barraza is arriving at a plan for selling or buying a house that meets the immediate and long-term needs of his clients. Barraza says “I have seen too many people regret their move soon after they made it and primarily, because no one took the time to go over options or offer recommendations specific to that client. See, most agents can list and sell or find a Buyer a home but only a few can recognize that the client does not always see all the details beyond their immediate transaction and it is my job to make sure that they do. Therefore, sometimes my clients will do different than what they had planned on doing, for example… buy a home instead of a condo, buy single instead of two story, do a 1031 tax deferred exchange when selling investment property, buy a condo instead of a home, or something totally different than selling because they realize that selling was not going to resolve their situation!" says Victor. So in addition to being their Realtors® Barraza is also his client’s real estate consultant or advisor.
His experience extends beyond residential sales, as he has also done considerable work helping people buy and sell investment property, like multiple unit residences and small commercial properties. He states, “Recently, it’s very hard to pass on some of the great investment opportunities out there and once we leave these low prices behind us, it’s hard to say when, if ever, we’ll come back to them again! Many of my clients understand that, they have changed their long term investment strategy to include more real estate and they are seeing a much better return on their investment when compared to the stock market, mutual funds or other long term investments they were into!"
This philosophy applies to the purchase of farmland as well. Barraza explains that while 20 years ago most small farms could still support a family, there is an increasing trend for farmers to hold down day jobs and do their farming on the weekends or evenings. Given this situation, Barraza prides himself on tracking down affordable and viable agricultural properties, and he has helped many area farmers buy and sell property.
He states, "Over the years I have invested my own money in each of these areas, in residential, investment, and agricultural property. So what I preach to clients is based on the experience I've gained with my own properties, as well as the experience I've obtained from helping clients throughout my 23 years in the business to buy and sell too."
In the present real estate market, we recently left a market with huge a number of foreclosure sales on an ongoing basis. In 2011 there was plenty of listings of different sizes, shapes and colors and plenty of flexibility on price when offering to buy. Now in late 2012 our listing inventory has been reduced drastically, very few homes for sale and demand is high. Barraza sees that the bulk of the homes that were going to be foreclosed on is a thing of the past, now we should only see a fraction of foreclosed property compared to what we have seen in the last few years therefore our listing inventory is expected to continue to remain lower. Short sales and loan modifications is a big part of today’s market. Many people still owe much more than their home’s value and they need to consider all the options before deciding which route to take. Barraza has become an expert in advising clients on their options when they are in a financial bind or upside down in their home. “There are several options available and too many people only consider letting their home go to foreclosure without analyzing what else they could have then and the benefits of it." Barraza says.
On a positive note for current home owners, Barraza also sees that we had homes in the median price point hit the bottom and homes in the entry level prices have actually already experienced at least a 10% appreciation with the appreciation slowly moving into slightly higher price points.
As far as choosing a Realtor®, Barraza encourages prospective buyers and sellers to ask around among friends and family, in order to receive a referral to a reputable and successful agent. 70% of Barraza’s business comes from referrals or repeat business from longtime clients, and Barraza acknowledges that satisfied clients make the best advertising for conscientious and successful Realtors®.
DRE Agent Lic. No. 01044484
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