July sales,LIFT Program,Rates

Hello Friends- All schools are in session. Football has started. Fresno Grizzlies are starting playoff games Wednesday. Dodgers are in 1st place. Will the Giants make the playoffs? Fresno State played Thursday.(WON)
Real Estate. Real estate is doing well. Gas prices have Fallen. As stated last month, the drought has not made a significant impact. Also,LIFT program though Wells Fargo is a great program for 1st time buyers & some move up buyers. Some clients are getting into homes with approx. $1500-$3,000. Please contact me for more info.
Presently,Interest rates are good.(Please see below)

Also,please see my stats & additional comments on the local market Below.

LAST MONTH'S REAL ESTATE SALES



As per Information garnered from the Fresno Multiple Listing service, in the Fresno/Clovis area: 

​Homes sold last month, July.'15: 704.

 ​784 homes sold in June .'15.

 A year ago,​ July '14, homes sales were ​612. 


Average sales price was $2​44,326​ (​July.'15) 
Average sales price was $223,639 (​July.'14) 

Median sales price was $2​25,250 ​​(​July.'15) 
Median sales price was $202,475 (​July.'14)

 The average & Median has risen approx. 9% compared to a year ago.

Breakdown per price range & Days on Market


​287  homes sold under $200,000. the avg. D.O.M.: 42
​​
​361 homes sold from $200-400,000.The avg. D.O.M.:49
​
 56 homes sold from $400,000 Plus. The avg. D.O.M.:​75
​_________________________________________


As of today, the present inventory of active homes in the Fresno/Clovis area stands at 1,​428. Rising from 1417 from the month before. 
​1387 active homes in July '14. 

​We have,what I call, a present monthly absorption rate of
​approx.​49%. To clarify, nearly half of the listings sold last month. 

Lot of sales.
***Today's Purchase Rates

Product                                                     Interest Rate                       APR

Conforming and FHA loans

30 year fixed Rate                                          4.125                             4.150

30 year Fixed Rate FHA                                   3.875                             5.023

15 Year Fixed Rate                                          3.375                             3.427

7/1 ARM                                                          3.375                             3.269

5/1 ARM FHA                                                   3.500                             3.728

***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. Lower gas prices. The real estate market looks healthy. Good time to buy. Good time to make that move.
Good time to pick up an investment.

​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!​








Ask me how much your home is worth?

Contact me for your Free, no obligation consultation.

Have a great week!

Best Regards,

Derek Monreal
Realtoraltor
"Over 20 years experience. Integrity"
RE/MAX GOLD 
7050 N. Fresno St., #204
​Fresno,CA 93720
Direct:559-349-0296
E-mail address: listwithderek@gmail.com
Website:(www.derekmonreal.net)
Facebook page: http://rem.ax/1Bs84gq
" I LOVE REFERRALS! " "I Donate 10% to Charity"

LIC#0111933

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