Okay… Okay…. The Sky IS Falling,

but not in Kingsburg. As valley home prices continued to fall for the month of May, Kingsburg, again, remains somewhat stable. California fared worst in the nation and the Fresno area fared worst in California according to the latest home price index report released by CoreLogic, a real estate tracking company in Santa Ana. Fresno home prices, including distressed sales fell by 11.19 percent compared to April 2010. That’s slightly less than in March when home prices declined 11% compared to a year ago.
Looking at the Kingsburg Sales and Active listings for the month of May, we are still holding steady to pretty much the same numbers. Our inventory dropped a little (which is good), Days on the Market dropped a little (also good) and the overall Price per Square Foot stayed almost the same. One thing that kept our Sold numbers from edging up was the sale of two properties for the unheard of price of $51 and $55 Per Square Foot. Both of these homes were distressed homes and basically sold at land value only. On the other end of the spectrum, two homes sold in the north east area for $140 PSF and $148 PSF. So it seems that the sky is falling in the rest of the country, but we are still stabilizing here. The only thing coming out of the sky here is a lot of rain!
Effective July 1, 2011, the new California Carbon Monoxide law, SB 183, will require all single-family homes that contain a gas heater or appliance, a fireplace or an attached garage to have a CO detector installed. This new law applies to all rentals and will also effect homes as they are sold. Call our office at 897-4077 if you need more details.
Beginning June 23rd, Kingsburg’s very own 125-year old city band will begin the Summer Band Concerts Under the Stars and will continue every Thursday night for a total of six weeks. . Each night starts with a Farmer’s Market, Food and Crafts from 5-8 p.m., followed by the concert from 8-9:30 PM. Join us for a special evening on July 21st as New Era Financial (our mortgage company) sponsor’s that evening’s event. Here’s an opportunity for you to slip back in time to an old-fashioned outdoor Concert and Farmers’ Market. For more information contact the Kingsburg District of Commerce at 897-1111.

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