September RE Update: Aug. sales, 4bed/3bath Home for Sale,Rates

September 26, 2016

September RE Update: Aug. sales, 4bed/3bath Home for Sale,Rates

Hi Friends- I hope all is well. I have been busy! Below is a home i sold quickly.

Also, are you or someone you know looking for a 4 bed/3bath?

5563 W Acacia ave.(Photo above) is located in the Central unified school district. Extra large nice backyard. Pride of ownership shows throughout this very nice home. 1 full bed/Bath downstairs for family/friend. 2 large living areas. Offered at just $274,963.

Jumping into my Real estate Update. Presently, the market is very active. There are plenty of sales. Approximately, 57% of the homes sold last month! Though,prices in the Fresno/Clovis area rose minimally last month.
Gas prices rose slightly. Do not have an update on if the State of California raised the gas tax. I am hoping that they shelved that item.

We still need more water storage. It is looking like that will be up to the next president. I am hoping that the new president will see it as a priority. More water storage would be a big plus for this region. High speed rail I am not sold on.

Anyway, with basically good gas prices & good interest rates, the local real estate market continues to be healthy.

Please see my stats & additional commentary 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, Aug.'16: 716

The previous Aug.'15 were 637.

680 homes sold the previous month, July '16.

Average sales price was $259,810.

(Aug.'16)

Average sales price was $252,241 a year ago.

(Aug.'15)

Median sales price was $240,000
(Aug.'16)

Median sales price was $227,500 a year ago.

(Aug.'15)

As of today, Last month's inventory of homes in the Fresno/Clovis area was

1,261. The present inventory stands at about 1,210.

We have,what I call, a present monthly absorption rate of approx.57%.
To clarify,In August, approx.57% of the homes on the market sold!

Homes are selling.

Presently, good interest rates.
3.50-3.65% for FHA/VA
3.50% for Conv. 30 yr/ 3.00 for Conv. 15 yr.
Always confirm interest rates with your trusted lender. If you do not have one,
I can refer you to one. I have excellent lenders I work with.
Loan availability is good. The real estate market remains healthy. Good time to buy. Good time to make that move.

As you probably know, most real estate decisions are made with wise counsel.
Do not hesitate to contact me.

Put my experience & know-how to work for you! "Don't Settle for less"