Monthly Archives: September 2013

Recovery Phase Three

Did you know that we are now in recovery phase 3??? Neither did I. According to Jed Kolko a Chief Economist, the real estate recovery is not only moving ahead; it has entered its Third Phase:
1. First phase began in 2009 when the market ended its free fall
2. Second phase began in early 2012 when home prices bottomed and started their steep rebound
3. We are now in the Third Phase which began in the spring of 2013 after inventory bottomed out and mortgage rates started to rise. Both are making their climb after reaching historic lows.
Even though these statistics are drawn on national levels, they sure do relate to Kingsburg as we have gone through Phases 1 & 2 and are now in Phase 3.
We did experience 14 Sold properties in August, which was great. Active listings went up from 14 to 18, and that is a good sign too. Within the city limits, the average PSF (price per square foot) of Sold properties averages $123. This time last year, the average was $118. A couple homes Sold over $150 PSF and one foreclosure Sold at $81 PSF.
Also in the news this past month was a rise on the national level of Real Estate Brokerage firms that sold real estate and offered the traditional home mortgage. Consumers have pushed for this “one-stop-shop” type of business for years. Finally ….. we have arrived! We’ve only be providing this type of service for 15 years. And we take it one step further and offer property management too. So we really are a one-stop-shop for all your real estate needs.
We will not be posting our Video Blog this month. Sorry. We had it finished and ready to post to YouTube when we got the awful message “ VideoPad Editor has crashed because of an abnormal exception”. Not sure what that means in English, but the tech guys are working on it now and hopefully, it will be up and running next month.
As always, thanks for reading our monthly blog. Watch the video below to catch up on the upcoming events.

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