Fresno Real Estate News
Source: The Business JournalClovis was named the top city in Northern California for young families while Sanger took the top 14 spot, according to a new list by personal finance site NerdWallet. NerdWallet considered such factors like public school excellence, home affordability and growth and prosperity when compiling its Best Cities for Young Families in Northern California list. Of the 138 cities evaluated, Clovis was the No. 1 pick with an overall score of 68.07. The rating had a lot to do with Clovis schools, which made up 40 percent of the score. GreatSchools gave Clovis area schools a rating of 8 out of 10, while the city's high schools achieved a graduation rate of 92.6 percent for the 2011-2012 year compared to the statewide graduation rate of 78.5 percent. Clovis also excelled economically. Accounting for 30 percent of the overall score, the city's median income grew 51.32 percent from 1999 to 2012 to $63,983. Median home values, making up 15 percent of the score, were reasonable as well at $259,000 in 2012, while another 15 percent was in median monthly homeownership costs standing at $1,981 that year. Clovis was also praised for its 285 acres of parks and trails, proximity to three national parks and the Fresno Chaffee Zoo and family-friendly activities like Friday night farmer's markets in the summer, Big Hat Days in April. At No. 14 on the list, Sanger achieved an overall score of 59.67. The score took into account a GreatSchools rating of 7 out of 10 and a 2012 median income $40,761, which is 27.09 percent higher than 1999. Sanger residents also enjoyed median home values of $162,300 in 2012 and median monthly homeownership costs of $1,508. While not cracking the top 20, other cities included in the list were Reedley at 49, Chowchilla at 56, Fresno at 66 and Dinuba at 101.URL to original article: http://www.thebusinessjournal.com/news/economy/14506-clovis-tops-young-families-list For further information on Fresno Real Estate check: http://www.londonproperties.com
Source: The Business Journal Distressed home sales inched up in the San Joaquin Valley in September, with some counties approaching last year's dismal figures. According to the California Association of Realtors, distressed sales, which include short sales, sales of bank-owned properties and other foreclosure sales, stood at 15 percent of all home sales in Fresno County in September. That's the same as in August but down from 27 percent in September 2013. Distressed sales were up to 21 percent in Kings County in the month compared to 15 percent in August and 28 percent a year ago. Tulare County saw its distressed sales climb from 19 percent in August to 26 percent in the latest month, the same as in September 2013. Madera County even surpassed last year with distressed sales rising to 33 percent over 19 percent the prior month and 32 percent in September 2013. Statewide, distressed sales made up 9.1 percent of all homes sales in September, up from 9 percent in August but down from 14.3 percent a year ago. The share of real estate-owned sales, including bank-owned homes, went down to 3.9 percent compared to 4 percent in August and 4.5 percent in August 2013. Short sales remained flat at 4.6 percent in the month, down from 9.3 percent a year ago. Equity sales, or non-distressed home sales, stood at 90.9 percent in September compared to 91 percent the prior month and 85.7 percent last year. Housing inventory increased throughout the state in September. The unsold inventory index for real estate-owned homes, or number of months to deplete the supply of homes at the current sales rate, went from 2.8 months in August to 3.1 months in September. The index for short sales rose from 6.1 months in August to 6.2 months in September, while the index for equity sales was unchanged at 4.1 months. URL to the original article: http://ftp.thebusinessjournal.com/news/real-estate/14486-distressed-home-sales-climb-in-september For further information on Fresno Real Estate check: http://www/londonproperties.com
Source: The Business JournalWritten by Ben KellerHome sales fell throughout the state in September, although Kings County continued to be among the few exceptions. According to a new report from the California Association of Realtors, homes sales in Kings County improved 16.7 percent from August to September. Sales were also up 1.2 percent compared to September 2013. The median price of a home in the county was unchanged at $183,330 in September, both up 8.8 percent from $168,460 a year ago. Home sales in Fresno County declined 0.3 percent from August and 1.6 percent compared to September 2013. The price of a median home in Fresno County stood at $208,210 in September, up 2.2 percent from $203,760 the prior month and 12 percent from $185,830 a year ago. Tulare County saw its home sales fall 6.9 percent during the month but increase 3.6 percent in the year-over-year comparison. The county's median home price fell by 5.1 percent in September to $175,000 from August's price of $184,440. That's up 7 percent from $163,500 a year ago. Home sales in Madera County were down 6.3 percent compared to August and 31.8 percent year-over-year. The county's median home price was down 6 percent in the month, going from $166,670 in August to $156,670 in September. That's also down 17.5 percent from $190,000 last year. Home sales may have dropped in September but the available supply of houses saw some healthy increases in the Valley. Tulare County's index was up to 4.9 months in September compared to 4.5 months in August and 4.2 months a year ago. Madera County's index increased to 7.1 months compared to 6.9 months in August and 5 months last year. Fresno County's unsold inventory index, or number of months to deplete the supply of homes at the current sales rate, was unchanged in September at 5.2 months, up from 4.4 months in September 2013. Kings County's index stood at 3.2 months in September, down from 4 months in August but up from 3 months the year before. Statewide, home sales totaled 396,440 units in September, up just 0.4 percent from 394,700 in August but down 4.2 percent from 413,850 in September 2013. "September’s slight sales increase and tempering in home price gains suggest optimism as we head into the slower homebuying season," said C.A.R. Vice President and Chief Economist Leslie Appleton-Young, in a statement. "Home prices are stabilizing, and the year-to-year sales decline is at the lowest level we’ve seen in the last 12 months. The cooling price growth and recent drops in mortgage rates will ease housing affordability and help to improve sales in the final months of the year."URL to original article: http://www.thebusinessjournal.com/news/real-estate/14390-kings-county-avoids-falling-home-sales For further information on Fresno Real Estate check: http://www.londonproperties.com
Source: The Fresno BeeBy Marc Benjamin The Fresno BeeOctober 20, 2014An apartment project that is the largest approved in Clovis in 10 years was supported by Clovis City Council members Monday night. The vote was 5-0 with no public opposition. The plan for 144 units that can be converted to condominiums is near the corner of Dakota and Clovis avenues, east of the city’s recreation center and old winery site. Under city guidelines, the property could have handled twice as many apartment units, said Laurie Doyle, vice president of development for Clovis-based Regal Development Group. She said the developer held two neighborhood meetings where traffic was a focal point, but there were no other significant concerns raised by neighbors. All the apartments will be single story, Doyle said. An office/recreation center with a manager’s unit is the only two-story building on the 19.6-acre property, she said. The plan includes the flexibility to become a condominium development, which is allowable under city guidelines, said Robin Kane, a Fresno apartment investment adviser. Kane said the local condominium market is sporadic in the Fresno area. It was strong about 10 years ago and in the early 1980s and could improve again, depending on the rise of housing prices. The Montage condominium development, approved by the Clovis City Council in 2005, had 255 units proposed, but only 81 have been built, city officials said. The last apartment complex approved that was larger in Clovis was the 178-unit Copper Beech project on Gettysburg Avenue and Sierra Vista Parkway in 2004.URL to original article: http://www.fresnobee.com/2014/10/20/4189505_clovis-city-council-oks-largest.html?rh=1#storylink=cpy For further information on Fresno Real Estate check: http://www.londonproperties.com
Source: The Fresno BeeBy BoNhia LeeWhen one downtown Fresno development from Granville Homes opens, the dirt on another begins moving. Construction is underway on the homebuilder’s ninth project in the Mural District called Brio! on Broadway. The builder celebrated the grand opening of its Crichton Place development on L and San Joaquin streets in July. And looks like some heavy machinery started underground work Monday on a lot near the Metropolitan Museum, on Van Ness Avenue and Stanislaus Street, where Granville plans more apartments. Back at Brio, 14 new two- and three-story buildings are being built and an existing house, formerly home to the Marjaree Mason Center, is under renovation on Broadway Street, between San Joaquin and Calaveras streets. Brio will have 52 units ranging in size from 602 square feet to 2,173 square feet. The house will be used as a clubhouse. Some apartments will have an attached garage and private patios or balconies. All units will have energy efficient appliances, custom cabinets, and white quartz counters. Rents will range from $825 to $1,500. A construction tour of the project will be held from 11 a.m. to 2 p.m. on Saturday. Hard hats will be provided. Closed-toed shoes are required. Brio is expected to be completed early next year. For information visit www.RentGranville.com. Read more here: http://www.fresnobee.com/2014/10/09/4164592/granville-building-brio-on-broadway.html#storylink=cpy For further information on Fresno Real Estate check: http://www.londonproperties.com
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Real Estate News
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