**Derek's Real Estate Update: June Sales, THUMBS UP? Median price up?
Hello Friends-
Are things good? Thumbs up? I hope so. I hope & pray that all is going well. That your family is healthy this summer. That you have been doing things that are enjoyable as a family.
Real estate. THUMBS UP! Real estate is doing well. Gas prices have risen, but, have not made an impact on the rates. As stated last month, the drought has not made a significant impact. Please be aware, on Oct. 3rd, there will be New TILA-RESPA disclosures.
Presently,Interest rates still seem to be good.(Please see below)
Real estate. THUMBS UP! Real estate is doing well. Gas prices have risen, but, have not made an impact on the rates. As stated last month, the drought has not made a significant impact. Please be aware, on Oct. 3rd, there will be New TILA-RESPA disclosures.
Presently,Interest rates still seem to be good.(Please see below)
Also,please see my stats & my commentary on the local market Below.
LAST MONTH'S REAL ESTATE SALES
As per the Fresno Multiple Listing service, in the Fresno/Clovis area:
As per the Fresno Multiple Listing service, in the Fresno/Clovis area:
Homes sold last month, June.'15: 784.
A year ago, June '14, homes sales were 568.
644 homes sold in May .'15.
Average sales price was $245,106 (June.'15)
Average sales price was $231,230 (June.'14)
Median sales price was $228,375 (June.'15)
Median sales price was $202,000 (June.'14)
Breakdown per price range & Days on Market
276 homes sold under $200,000. the avg. D.O.M.: 40
310 homes sold from $200-400,000.The avg. D.O.M.:51
61 homes sold from $400,000 Plus. The avg. D.O.M.:101
_________________________________________
As of today, the present inventory of active homes in the Fresno/Clovis area stands at 1,417. Rising from 1312 from the month before.
1229 active homes in May '14. (13% or more homes than from a year ago)
We have,what I call, a present monthly absorption rate of
We have,what I call, a present monthly absorption rate of
approx.55%.
Lot of sales.
Lot of sales.
But, as you can see, the average sales price has stabilized.
But,the Median price is up.More higher price sales. The median is up about 9% from 1 year ago.
***Today's Purchase Rates
Product Interest Rate APR
Conforming and FHA loans
30 year Fixed Rate FHA 4.000 5.023
15 Year Fixed Rate 3.375 3.463
7/1 ARM 3.250 3.163
5/1 ARM FHA 3.375 3.583
***Always confirm interest rates with your trusted mortgage advisor. if you don't have one, I can refer you to one.
Overall,interest rates are good(Come October 3rd, that could change).Loan programs availability are good. Stable gas prices. The real estate market looks healthy. Good time to buy. Good time to make that move.
As you probably know, most real estate decisions need wise counsel. Do not hesitate to contact me.
Put my experience & know-how to work for you!
Best Regards,
Derek Monreal
Realtoraltor
RE/MAX GOLD "Over 20 years experience. Integrity"
7050 N. Fresno St., #204
Fresno,CA 93720
Direct:559-349-0296
E-mail address: listwithderek@gmail.
E-mail address: listwithderek@gmail.
Facebook page: http://rem.ax/1Bs84gq
" I LOVE REFERRALS! " "I Donate 10% to Charity"
LIC#0111933
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