Nov. Real Estate Update:Trump,plastic bags,Derek Carr ,Oct.sales in Clovis, Rates

November 12, 2016

Nov. Real Estate Update:Trump,plastic bags,Derek Carr ,Oct.sales in Clovis, Rates

Hey Friends–

Real estate market. Presently, there has been a 9.25% rise in values from Oct. ‘15 to Oct.’16. Keep in mind, this does not apply to all neighborhoods. It is an average of all neighborhoods in the Fresno/Clovis area. Gas prices are good & have edged down a little. Giving a positive state of mind. Donald Trump was elected president. After elections, the activity level rises. Sorry,the silly plastic bag ban passed.I just has to mention that. Water storage. Maybe with the new president, we will see a sincere effort to get that done for the valley.
Anyway, with basically good gas prices & fair interest rates(See Below) the real estate market is healthy in this area. Let me know if you have any questions. Here to serve you. Have a great rest of the month!
Image result for derek carr

Derek Carr. Former Fresno State star & now Oakland Raider star. Incredible has he has transferred his success at Fresno state to the NFL. 7-2 record. Who knows how far he will go this season. I will be following.
Image result for winter jam 2016 fresno ca

Image result for winter jam 2016 fresno ca

Winter Jam 2016—Mathew West, Crowder, Britt Nicole, RED, Mandisa, KB/Tedashii, OBB, Sarah Reeves, & Steven Malcolm will be playing

I am hoping to take my son today!

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, Oct.'16: 603.
The previous Oct.'15, were 603.

638 homes the previous month, Sept.'16.

Average sales price was $260,003.
Average sales price was $240,531. a year ago.

(Oct.'15)

Median sales was $240,000.

(Oct.'16) Same as previous month.

Median sales price was $219,500. a year ago.

As of today, last month's inventory of homes in the Fresno/Clovis area was 1,210. The present inventory stands at about 1,157.

When you separate out Clovis,Clovis only, you get the following:
137 sold last month. With an average sales price of $305,411. The median price was $287,000. Average days on market was 46 days. There are 258 active homes on the market.
Combining Fresno/Clovis again,we have, what I call, a monthly absorption rate of 52.8%.

To clarify,In October, approx.52% of the homes on the market sold!

Homes are selling.

Presently,rates have risen slightly. Credit score factors :
3.75-4.25% for FHA/VA
4.00-4.375% for Conv. 30 yr/ 3.25-3.50 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 as well. 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"