2nd Quarter 2017 Real Estate stats for Kingsburg

On June 14th, the Federal Reserve increased its federal funds interest rate by 0.25%. They’re also widely expected to raise rates once or twice more over the course of 2017. What does this mean for the real estate market?  While any action by the Fed always garners a lot of attention, we believe these increases will not have any significant impact on our market. These increases should not have any significant impact on our market.

Looking back at the 2nd quarter of 2017, we were low on inventory, down on number of Days on the Market and high on the Price per square foot.  These numbers reflect properties that are located with the Kingsburg city limits and listed in the Fresno MLS.

Active current Listings 27 as of 7/1/17

Average DOM (days on market) 66

Average PSF (price per sq. ft.) $160

Average listed price $324,350<p>

Sold Listings, 31 from 4/1/17 to 6/30/17

Average DOM 23

Average PSF $161

Average Sold price $254,856

Harvest Moon Music Festival

Saturday, September 23rd at 3 pm to 10 pm; accumulation of popular festival activities from the past spliced together for a fun, early-Fall, evening. Swedish Village

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  We welcome your response.

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Pets or No Pets …. That Is the Question!

The buzz words for today are “Pet Friendly”.pet-friendly  According to the American Pet Products Association’s (APPA) National Pet Owners Survey, Americans now own approximately 83.3 million dogs and 95.6 million cats. That translates into nearly 50 percent of homeowners owning at least one dog and more than 45 percent owning at least one cat. And managing property is no exception.   It is difficult to rent a property that does not allow pets. Seems like 90% of renters own a dog, maybe two and cats.

Here are the standard risks from tenants who own pets:

  • Potential damage to the property
  • Physical injury to neighbors or yourself
  • Possible noise nuisance
  • Allergens and dander will get in the air ducts and carpet

And the benefits:

  • Additional income from increased rent or pet fees
  • Larger pool of tenants to choose from
  • Increased tenant enjoyment because of Fido
  • Tenants with animals seem to sign longer leases

Whether you allow pets as a landlord or do not allow them, there are ways to mitigate your risks.  Give us a call at 897-4077 to speak with Leonard about ways to mitigate these risks and become “pet friendly”.

The number of Sold properties for the month of January in Kingsburg came in at a total 8, only one less than December.  The price per square foot was the same at $148.  We’re also seeing more offers on larger, higher priced homes. The average price of the Sold homes was $335,756, which is significantly higher than the past several years.  The highest home that Sold in January was $480,000, a 5 bedroom, 3 bath, 2700 square foot home built in 2015.  It is taking about 60 days to sell a home in Kingsburg, which is pretty normal for this time of year.  We do see the real estate business picking up as we are coming into the best time of year to sell and buy.  Interest rates are still considerably low at 4.25%

Upcoming Events: 

Kingsburg Kiwanis Pancake Supper: Saturday, February 25th from 5:30 pm to 7:30 pm at the Orchard Bible Fellowship, 2400 19th Ave.  Lots & lots of silent auction items and all proceeds go to community projects and school scholarships.

Annual Car Show: April 14th & 15th, Downtown Kingsburg.  More details to follow.

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  We welcome your response.

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Looking Back At The 2016 Real Estate Market

Home prices were the one constant in the 2016 real estate market nationwide. Scant inventory and low interest rates kept the market steady.  As you can see from this 7 year chart2016-kingsburg-market-chart that indicates the number of homes Sold in Kingsburg and their average Price Per Square foot, our local market has been pretty constant too.  Looks like 2011 was the highest of the 7 years.

Our office is off to a great start this year and I hear that a couple local agents are experiencing the same thing.  The 2017 housing market should see a boost to inventory, although not significant to withstand the increase in demand expected.  And moving into the new year, the National Association of Realtors (NAR) predicts home prices for existing-homes to rise approximately four percent in the 2017 real estate market. Other sources, however, anticipate home prices to rise much more.

We are excited and proud to announce a new real estate agent, Tiffany Dix.  We have worked with Tiffany on several projects in the past and look forward to having her on our team.  We consider her professionalism and work ethic a great asset to our company.  Welcome aboard Tiffany!

The 2017 Color of the Year is Violet Verbena.  “This nuanced update on a classic shade adds depth, luxury and pampering to every space, making it the perfect backdrop for consumers looking to blend the masculine, the feminine, the mystic and the modern.”ppg_coloroftheyear_200x200

 

 

Upcoming events:

Chamber of Commerce Annual Dinner: January 26th from 6-9pm, Historical Park

29th Annual Blossom Trail: February 3rd at 10:00 am, at Kingsburg Train Depot

Annual Car Show: April 14th & 15th, Downtown Kingsburg

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  As always we welcome your response.

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Housing Outlook for 2017

2016 is shaping up as another solid year for the real estate market, both nationally and locally, as a stable job market and low interest rates help spur sales.  This growth pertains to both re-sale and new construction.  Housing demand clearly remains on a sustained path to recovery.  With bent-up demand and low inventory combined with historically low interest rates create an environment favorable to a solid 2017.  Although interest rates have risen since the election, it is still a good time to borrow and purchase that dream home.

Look for the recap of 2016 in the January blog post.

Our market here held steady again in the month of November.  Inventory went up to 27 Active listings, and 7 of those listings were new homes. We closed escrow on 10 properties as opposed to 8 in October.  And the price per square, for both Active and Sold properties came in at $159 and $158 respectively.  Days on the market (DOM) ticked up to 37 days, which is very typical for the market during the holidays.

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The entire staff of New Era Financial and The Housing Connection wish you and your family a Very Merry Christmas and a Wonderful 2017. As always, we appreciate the fact that you read this real estate blog and occasionally comment.

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THANKSGIVING 2016 SURVIVAL GUIDE: HOW TO GET THROUGH THIS YEAR’S GATHERING WITH A SMILE ON YOUR FACE

For many people across the country, Thanksgiving represents a time of togetherness when the entire brood can gather around the table and sink into some family love – and a vat of mashed potatoes. For others, it’s a terrifying time of strife and stress.

Well, get ready for the “normal” fabric of family dynamics to be stretched to its limits this year. In the aftermath of the most contentious U.S. election of our time, nerves are frayed, and two distinct and disagreeable (and that’s putting it mildly) camps of voters could make sitting across the table from each other more challenging than usual.

So how can you get through it, and maybe even enjoy yourself? Here’s your Thanksgiving 2016 Survival Guide.

Cocktails Any One?

Depending on your family dynamic, you may already be quite familiar with the whole drinking at Thanksgiving thing. But this year may call for more – and stronger – imbibing.

Make dinner a multicultural affair

What better way to make a statement about acceptance than by bringing in some new cultural dishes? Thanksgiving dinner is conventionally associated with very specific foods. Turkey. Pumpkin pie. Stuffing. Try blending American tradition and familial culture with food.

Play a game

Thanksgiving Bingo is a fun way to get through a strained holiday, but cards from years past probably won’t do this year. Generate your own Thanksgiving Bingo cards and pass them out to a few family members, or give them to friends who you know could really use some help at the dinner table next year. Keeping your ears open for the next winning phrase by making it a game could help soften the tension.

Thanksgiving bingo

Thanksgiving bingo

Volunteer

Maybe what your family needs this year is to not sit down to eat together at all, but, rather, to be of service. Volunteering at Thanksgiving can be rewarding for those who are on both the giving end and the receiving end.

Be truly, sincerely, thankful

It’s easy to get lost in the minutiae of sorrow or regret, especially when the big picture is also not one you can find much solace in. Whether you’re feeling dread at what the next four years hold, or if you’re feeling joy, or somewhere in between, taking a moment to get in touch with what you’re grateful for can be powerful. Health, wealth, a good job, strong friendships, a loving family (even if this year some are a tad less so), and a table full of food to enjoy offer plenty of reasons to be thankful, which, not coincidentally, is the name of the game on this holiday.

The Kingsburg real estate market held steady through the month of October.  Our inventory went up to 26 Active listings, which is still incredibly low, and our sales creeped up a little. We closed escrow on 8 properties as opposed to 7 in September.  What is notable, is the fact that the price per square foot jump up to an average of $157, for both Active and Sold properties.  Days on the market (DOM) also decreased down to an average of 30 days, which is real good, as this means inventory is moving.  We do anticipate a softening of the market as we head into the holidays.

And speaking of the holidays, the entire staff at The Housing Connection and New Era Financial wish all of you the very happiest of Thanksgiving and truly hope you are able to share your day with family and friends.

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Rock the Vote!

Register by Oct. 24 to Rock the Vote. This year is an election year (just in case you haven’t noticed), with the upcoming presidential election on Tuesday, Nov. 8, 2016. If you’ve moved or need to vote by mail, you can easily register online. http://registertovote.ca.gov/.  Permanent absentee is the easiest way to vote; your ballot arrives by mail and you can vote at your convenience.  So if you have not registered ….. hop to it!

The Kingsburg market update for September mirrors the August numbers almost exactly.  Inventory is down 4 to 21 Active listings and there were 7 sold properties (same as Aug). The average price per square foot of Sold homes was $149, compared to $145. Property values are increasing ever so slightly.  We do anticipate a slowdown of the market as we head into the holiday and winter months.  So far we haven’t seen that here in our office.  Still listing and selling about the same as the past several months.

Upcoming event:

Fall Carnival, Saturday, October 31, 2016 at Memorial Park, 5pm to 8 pm

The First Baptist Church of Kingsburg does an awesome job treating about 3,000 kids to an evening of fun in a safe environment.  Kids get to play carnival games, participate in costume contests, run through a great maze plus so much more.  They also can trick or treat their way through the Trunk or Treat Alley. This is all FREE to the community and a huge blessing to the families of Kingsburg.  Bring your kids or grandkids down for an exciting evening of fun! Look for our own Winnie the Pooh with his “hunny” pot in the Trunk or Treat Alley.  He will be at Pooh Corner near the entrance to the ‘hundred acre wood.  Can’t miss him!

We appreciate all of you who take the time to read our local real estate blog each month and respond with comments.  Thanks a bunch!

 

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Aging Gracefully

Boy oh boy …… can I talk about this subject!  Seems like all my friends are aging, some gracefully, some not so gracefully. I think this aging thing is contagious and vastly overrated.

And for those of us who are “aging gracefully”, the biggest real estate  trend now is for Next Gen & Granny Pod homes.  These homes provide a small studio or 1 bedroom apartment detached or attached to a traditional single family residence.  In fact, there is a new subdivision here in Kingsburg that offers this type of home.  Several years ago we were seeing homes with “Casitas”, which were typically detached from the main dwelling.  As you can see from the info graphic below, 90% of seniors today want to stay in their homes & communities up to the time they need to go into assisted living facilities and this newer style of home provides these two benefits.

aginggracefully_sta_300dpi_9-08-16-01

The past several months the real estate market has pretty much stayed stagnant.   We had 25 Active listings (which is still very low inventory) and had 7 sold properties. The average price per square foot of Sold homes was $145, down a little from July. Property values have dropped just a little over the past few months and lower appraisals are driving that train.  Maybe we are being too optimistic about values when we list to sell homes.

Upcoming event:

Saturday, September 24, 2016. A tribute festival to local farmers. Featuring bands, famous food trucks, beer garden, Crayfish Chowder, and more! A fun early-fall evening.

harvest_moon_flyer1

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  We welcome your response.

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