The Kingsburg Real Estate Cornucopia

It is autumn. In my mind with the onset of autumn comes a cornucopia of thoughts. When I think of the cornucopia basket, I think of lots of different stuff placed together to make a pleasant presentation. I liken this big basket of stuff to THE REAL ESTATE MARKET as it truly is a cornucopia of things & people that make the industry work and work well. From Active, Pending & Sold listings, Days on the Market, Price per Square foot, escrow & title companies, Buyers, Sellers and Lenders, it takes all these things & people working together to make up the housing industry; i.e., that basket of fruit on the table.
So here is my cornucopia basket: All of the statistical points from August to September improved just a little. Here in Kingsburg, we had 16 Sales that closed escrow, which is 10 more from August. Yea!! It took pretty much the same amount of time to sell at 101 days on the market (DOM) and the Price per Square Foot (PSF) inched up a bit from $118 to $119. Our standing inventory went down slightly form 46 Active listings to 45. Please see the September CMA to your right of this column. So in essence our market is still stabilizing, however (here comes the bad news), almost every escrow that has come across my desk in the past several months has been a challenge if a loan was involved. Even the A1 borrowers are being subject to the most stringent of underwriting policies. Appraisals are still a big, big issue and some times knocks the deal right off the table where that cornucopia sits. The lending pendulum has swung from being way too lax in underwriting policies to way too harsh and borrowers/buyers today are paying the price. And as we head into the “Seasons” we anticipate much of the same here in Kingsburg.
Our business and personal philosophy is that we are honored to be able to own 2 small businesses and provide a service to the Kingsburg community, even in these challenging economical times. We look forward to assisting you for all your real estate sales, property management and loan needs.
On a political note, we urge everyone to register to vote prior to the October 18th deadline and to then exercise your right as an American citizen and vote on November 2nd. Along that vein, we are offering FREE rides to anyone who needs transportation to and from the polls anytime during the day on the 2nd. Please call myself at 657-1812 or Leonard at 647-1811 and it will be our pleasusre to pick you up, drive you to your precinct, wait for you to vote and drive you back.

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