The local real estate numbers are in for the month of June and they are almost identical to those from May, except for the average sales price. That number seems to be ticking upward each month, thanks in part to the new construction in the north east area of Kingsburg. The number of available homes for sale and the time it is taking to sell them is consistent with the past couple months. So we have the smaller foreclosure homes selling for around $100 to $115 per square foot and the new homes coming in at $148 up to $163 per square foot. Good news for the upper end of the market, which has been stagnant for the past several years.
We are pleased to have another Guest Blogger this month: Ron Hirschler, Kingsburg Farmers Insurance and Financial Services Agent. You may reach Ron online at rhirschler@farmersagent.com. Ron offers the following good advice on home security:
“Practical Tips to Secure Your Home”
One thing every homeowner should do at least once a year is to walk around and through their property with a close friend or neighbor who is not too familiar with the house. Start outside and ask yourself “How would I break in?” The purpose of not doing it alone is your pal may spot something you’ll overlook. Remember, the two things a burglar fears most is being seen and having to take too much time to complete the crime.
Tips on being away for extended periods:
1. Arm security system. Set automatic timer for lights & radio and turn phones down.
2. Arrange for neighbor to watch house, cut and water grass to give it the lived in look.
3. Make sure there is no change in normal pattern of opening shutting drapes and/or lights.
4. Arrange to stop mail, newspaper delivery & continue to have yard work performed.
5. Arrange to have local police give “special attention” for area beat car.
Thanks Ron for these great security tips!
Remember the Summer Band Concerts for the next 4 Thursday evenings held at the Memorial Park across from Kingsburg High School. New Era Financial (our sister mortgage company) is sponsoring tonight’s big event and is providing a packet of free lemonade in celebration of its 20 year anniversary.
As always, we welcome your comments and promise to respond to them right away.
July 8, 2010
May …. all over again!
June 25, 2010
Honor
Just a personal note: Leonard and I will be attending a “Restoring Honor” rally in Washington DC on August 28th. The mission of the rally is to recognize the First Amendment and to honor the service members who fight to protect these freedoms. This is our small way of remembering the importance of restoring honor in America and paying tribute to our service members.
We would be “honored” if you could stop by our office at 1340 Sierra St. here in Kingsburg sometime between now and August 24th to sign a Restoring Honor t-shirt supporting this event. I plan on wearing the shirt to the rally and my goal is to have it covered with signatures from people who believe in maintaining the 1st amendment and who honor our troops, past and present.
As a small token of appreciation, you will receive a American flag decal for taking the time to come in and sign the shirt. We will also have the shirt available for signing at our booth at the Summer Band Concert on July 8th.
God bless America.
Restoring Honor T-shirt
June 10, 2010
Low Interest Rates Makes NOW A Good Time To Buy!
The Fresno Bee on Sunday, June 4th, states that the interest on a 30 year fixed rate mortgage is now at an average of 4.79%, as per the Freddie Mac rate report. It was expected that the Federal Reserve would increase the rates this spring but the European debt crisis is keeping the rates very low. Keep in mind that NOW is also a very good time to re-finance ….. if you still have equity in your home. Our sister company New Era Financial, which celebrates its 20 year anniversary, can help with all your mortgage questions. To talk to a loan officer, just call 897-0968, ask for Leonard or Hal.
Also in the Fresno Bee on the same day is an article that states: “It’s cheaper to buy than rent in Fresno”. With the affordability of homes today and the extremely low interest rates, NOW is truly the time to buy.
Even though the real estate numbers for May reflect an increase in sales (up 3), the re-sale market here has actually experienced a slow down since the Federal Tax Credit expired April 30th. The Price Per Square Foot (PSF) as noted in the CMA to the right of this column is getting a little bit better each month. Right now Kingsburg is at an average of $128 PSF, which includes big custom homes and foreclosures. However, looking at the numbers closely, the custom homes are coming in at about $135 to $150 PSF.
The Northhampton subdivision is doing very well right now with several homes under construction. Anyone thinking about buying a new home should call us first so that we can refer you to the builder.
Good news ….. the new Hampton Inn is open for business.
Just as an update, the Kingsburg Relay for Life raised approximately $47,000 at it’s first event. Thanks to all of you who contributed time walking, food and especially your donations. It was greatly appreciated.
As always, we welcome any comments or suggestions you might have.
May 12, 2010
Local Market versus State and National Trends and other “stuff”.
Even though the Kingsburg real estate market does not typically reflect state or national trends, the recent report that came out from the California Association of Realtors (C.A.R.) has several key findings that fit our market here to a “T”.
Below is an excerpt from the 2009 California Survey of Home Buyers. It details how home buyers have changed their behaviors in recent years to adapt to the new housing market environment and to the increased use of the Internet in the real estate business. Some of the key findings include:
• Distressed sales made up more than half of sales in California. According to results from the survey, 49 percent of all buyers bought a home through a regular market sale, 38 percent bought an REO/bank-owned property, and 13 percent bought a short-sale property.
• Home buyers, in general, were optimistic about the future direction of home prices in their neighborhood. While fewer than one in ten believed prices would go up over the next year, one-third believed prices would go up in the next 5 years, and 60 percent thought prices would go up in 10 years.
• Home buyers continued to experience considerable difficulty in obtaining financing for the homes they bought. On a scale of “1” to “10”, with “1” being “very easy” to obtain financing and “10” being “very difficult”, home buyers reported a high average level of difficulty in obtaining finance of 8.1.
As you can see from the new CMA figures to the right of this blog, our local market is still uncertain. We had the same number of sales in April as March (7), fewer Active listings and it’s taking longer to sell the same 7 homes. Our PSF (price per square foot) is up a little, which is good, considering the number of short sales and foreclosures we are all experiencing.
Our business is still “brisk” and we are busy days and evenings, listing homes and writing offers. Life is good!!!
On a lighter note ….. don’t forget that the Swedish Festival is later this week, starting with a Swedish Pea Soup and Pancake (yum) Dinner Thursday evening at the opening of this years Farmer’s Market with the Smorgasbord dinner, Queen crowning & Police Dress Review Friday evening. Saturday will begin with the Swedish Pancake Breakfast at 7:00 am and continue throughout the day with loads of entertainment and fun. Call the Chamber of Commerce at 897-1111 for more info.
Also, the Fairfield Inn is expected to open for business sometime towards the end of May.
And, last but certainly not least, the Kingsburg Relay for Life will commence on May 22nd at 9:00 AM and finish up at 9:00 AM on May 23rd. Our team “Kingsburg Racing 4 a Cure” is right on track with our fund raising and looking forward to the actual event and all the exciting things going on during those 24 hours. Remember, if you would like to donate or participate, we welcome anyone at anytime to join. Call me at 647-1812.
April 5, 2010
As One Door Opens …..Another Closes!
New/Old Tax Credits, New Construction, New sales statistics, Free Ice Cream, Relay for life and more!
As of April 30th if you have not already opened escrow, you have missed out on the Federal 1st time home buyer tax credit of $8,000.
But wait … there’s more!!!! The State of California just passed AB 183 which provides a 1st time home buyer tax credit in the amount of $10,000 or 5% of the sale price, if you open escrow after May 1, 2010 and before August 1, 2011. So if you’re really good and plan well, you could actually receive up to $18,000 for a very limited time. In all fairness, the tax credit issue has really stimulated the buyers to get off the fence and buy that first home. It has really made a difference.
On to a more “constructive” note! Did you know that there have been 14 single family building permits issued by the City of Kingsburg since January 1st of this year? This is awesome news in that an increase in new home construction is one of the first indicators that a market has begun moving in the right direction. When Builders have the confidence to step out and take a risk, chances are the re-sale market is not far behind.
Check out the CMA box (comparative market analysis) to the right of this blog for the March Kingsburg real estate statistics. Due to the fact that we are getting so many “out of the area” listings from the Tulare County MLS, we have included those numbers in this months CMA. Our office is still experiencing a high volume of sales per month, but again, mostly in the under $200,000 range. The turn over for higher end homes still remains slow.
Don’t forget to click on the Free Ice Cream tab at the top of this page for that free ice cream from Baby Cakes and Superior Dairy. A big thank you to all who have applied ….. the response has been overwhelming!
Remember also the Kingsburg Relay for Life on May 22nd an 23rd. If you are interested in joining a team in remembrance of a loved one, please contact me at 647-1812. We’d love to have you a part of the Kingsburg Racing 4 a Cure team.
March 8, 2010
March Madness
Take a look at the new CMA (comparative market analysis) to the right and you will see why we’re calling this March Madness. The February numbers compared to January number are crazy and all over the place. New listings are up, sold listings are up by one, “days on the market” is way down and price per square foot on sold properties is way down. I think we are still on that same roller coaster from last month and will probably be on this amusement ride for a while. Although I can’t think of this industry right now with much “amusement” with all these short sales and foreclosures,
On a lighter and tastier note, look for the Free Ice Cream sticky ad note on your Kingsburg Recorder this Wednesday and for the next 3 consecutive weeks. Anyone who goes to our blog site and clicks on the Free Ice Cream tab at the top of the page then follows the instructions, will receive a coupon for a free ice cream cone from Baby Cakes and Ice Cream on Draper St. Yum!
Also look for the large (and I mean very large) barrels in local real estate offices supporting the REALTORS® Feeding the Community program sponsored by the Fresno Board of Realtors. This month is Macaroni March and we are looking for non-perishable pasta type food items. In addition to a different theme each month, we will accept just about anything you want to give that is non-perishable. One of the awesome things about this food drive is that all the donated items will remain in our community; KCAPs in Kingsburg and Selma Cares in Selma.
We are proud to announce that The Housing Connection and New Era Financial will be sponsoring a team for the upcoming Relay for Life’s inaugural event here in Kingsburg on May 22nd through May 23. Our theme will be “Realtors Racing for a Cure” and we invite anyone and everyone to be a part of our team to support this awesome cause. If anyone is interested in joining up, please email me at judy@housingconnection.net or call me at 647-1812.
February 23, 2010
Credit Score Tips
Four Easy Steps to Raise your Credit Score
Having spent 10 years working with a Trans Union Credit Bureau eons ago, any time I see “quick fix” or “instant repair” schemes to improve credit scores, it just makes me fume! There are NO quick fixes and there is no such thing as instant repair! Beware of companies that promise a silver bullet for raising your score. No one can legally remove accurate information from a credit report. Only time can erase those notes of your file.
The following Four Easy Steps will help you raise your credit scores ……. THE Right WAY.
1. Do your homework. Obtain a copy of your current credit report and know what it states. Knowing your score is the first step in creating an action plan.
2. Do an accuracy check: Make sure the information on that report is correct and take steps to correct them it they are not.
3. Plan to improve: Here’s where your action plan really starts. Take control of your financial situation which means knowing how much money is coming in and how much is going out. Budget anyone?
4. Consolidate and save: If it makes sense, with your present situation and interest rates are good, consolidate your credit card debt into a second mortgage or equity line of trade. And then, don’t do the same thing over again. Highly recommended: get some face to face advice before you proceed.
Did I mention to beware of companies that promise that silver bullet? Remember, anything they will do for a fee, YOU can do for free. We have helped numerous people raise their credit scores (which take at least 6 months of dedication) and be able to purchase a home of their dreams when they thought it would not be possible.
If you or someone you know has any questions regarding their FICO scores, please send them our way. We counsel people all the time and NEVER charge them a cent …. just part of the service we provide.
February 4, 2010
January Statistics and Guest Blog
Oh my, January was an awesome month for our company. In fact, we had more transactions close escrow (which included several homes in Fresno) than any previous January in memory. With that being said, the number of SOLD properties in Kingsburg was down from 6 in December to 5 in January. The ACTIVE listings went up by 11 and the price per square foot on SOLD listings went down from $130 PSF to $113 PSF. The majority of the SOLD listings were either short sales or foreclosures, which again, pulls property values down. So the real estate market is still in somewhat of a roller coaster ride, however we are anticipating a bountiful spring!
In our endeavor to provide you with information relevant to our community, as well as the state of the real estate market here in Kingsburg, periodically we will be providing insight from local experts on different topics and issues. This month Kingsburg City Manager, Don Pauly, was gracious enough to provide an outlook on 2010.
“VIEW FROM KINGSBURG by Don Pauley, City Manager
The last 2 years have been a challenge for the City of Kingsburg, but the staff and City Council have been up to the challenge. In January of 2009 the City Council anticipated the need to reduce expenses and implemented budget cuts in mid-year. The Fiscal Year 2009/2010 budget also anticipates a lean year with the City Council adopting a budget that continued to reduce operating costs without reducing essential services. The mid-year budget report confirms the foresight of the City Council and staff by projecting a year end General Fund deficit of less than one-half of one percent. We are just now beginning to work on the Fiscal Year 2010/2011 budget and we continue to anticipate a less than robust economy.
Like the rest of the country Kingsburg has experienced a significant downturn in the construction industry particularly single family housing. For the first time in over a year we are seeing new homes being built albeit less than a dozen. Commercial construction has also slowed dramatically. After the projected opening of the Fairfield Inn in March no new construction is expected to get underway although the City continues to work with the developers of La Quinta and Microtel hotels to secure their starts yet this fiscal year. City staff has focused its efforts on recruiting businesses to fill vacancies and will continue to do so until the economy picks up and all of our store fronts are occupied.”
January 15, 2010
Is The Worst Really Over for Housing?????
Yes, as quoted on CNBC by Sam Zell, Equity Group Investment Chairman January 13th.
Yes, as quoted by the California Association of Realtors in their closely watched “2010 CA Housing Market Forecast”, January 15th.
Yes! Yes! Yes! The worst is over! As quoted by local blogger/REALTOR®, Judy Pagel, on January 15th.
In Kingsburg the second half of 2009 showed a significant increase in the number of residential sales, a decrease in Active inventory and a decrease in the number of day’s property stayed on the market waiting for that Buyer. This tells us that the current market trend is showing stabilization. Yippee!
Each quarter of 2009 showed better than the last. We are still not seeing a huge increase in the Price per Square foot, but it is improving, bit by bit. Sadly to say, the number of foreclosures is still on the rise and these properties, in part, are keeping our equity from improving.
Affordability is the outlook’s silver lining, especially with the renewal of the Federal $8,000 first time home buyer credit and stable interest rates on home loans. Here in Kingsburg a huge factor in the stabilizing trend in the market is the sale of higher end homes and new construction. Typically what has mostly been selling in the past couple years are lower end homes, priced from $150K up to the $300K mark. The last half of 2009, 5 new or newer large custom homes sold from between $380K up to $460k, which certainly helps with that Price per Square Foot (PSF) issue. The average PSF for these 5 homes is $160, which is awesome!
Our office is experiencing an outstanding January to date. Normally, January is pretty slow, but we have been super busy. In December (remind me never to move during the Holidays) we moved into bigger and more private offices, just two doors down from the old one. We also launched our super-duper snazzy online Multi-Media Marketing Plan which been very well received by Buyers and Sellers alike.
So in a nutshell, we predict that the worst is over and the housing market will continue to improve!
Visit our blog for news on current home values, recent sales and whatever information we deem relevant to the housing industry. We also welcome your comments, questions and referrals.
December 31, 2009
The Power of Online Networking in Kingsburg
Welcome to Kingsburg’s first online networking real estate company. We take advantage of the power of online networking and yet provide you with the personalized service of local real estate experts.
Sellers: Our new Mulit-Media Marketing plan includes posting your listing on 10 major real estate websites to connect you to Buyers worldwide. Even better …. a virtual tour of your home will be posted on YouTube to be seen by millions.
Buyers: Browse homes online at our website or take virtual tours online.
Comparative Market Analysis: See the CMA report posted on the right side of this blog. This will be updated at the beginning of each month to give you, the consumer, an up-to-date status of the Kingsburg real estate market for the past 30 days.
New updated website: Our new website at www.housingconnection.net provides a list of homes currently on the market, local forecloures, our listings, our agents and the benefit of learning the value of your home.
Current trends & stuff: We will post current blogs relevant to real estate with such information as; new construction, tax credit updates, interest rates and local trends in the market. Look for our Market Trend Posting coming around the middle of the month. We welcome your comments at anytime.
Subscribe: Feel free to subscribe to this blog and receive updates as they are posted. Simply register your email address by clicking on Email Subscriptions.
Dr. Suess Quotes For whimsy and inspiration.
Happy New Year from the staff at The Housing Connection!!!
