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Nov 29 2018

2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619

2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
2019 CA Housing Forecast Creates Psychological Effect, Home Buyers And Sellers Mismatch Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
The summary of the 2019 California Association of Realtors economic forecast is that the 2019 CA housing uncertainty creates a psychological effect.  This post is a summary of the information found in their 2019 forecast, with a few extra additives here and there.  So everyone shouldn’t read the C.A.R. housing forecast (where most info from this post was derived) for 2019 and take it verbatim as if their home value will reflect exactly how this report forecasts the overall housing prices for the entire state of CA in 2019.  But I thought it was good to consider, especially from a Realtor’s perspective so I can envision how 2019 may shake out from a business standpoint.  But if you or anyone you know will be a buyer or seller in 2019, you may glean something written here.
2019 CA Housing Forecast Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
Similarly in how 2018 transpired with a 3.2% decline in the number of existing single family home sales compared to 2017, 2019 will experience a 3.3% decline on top of the decline from 2018.  As home prices are expected to simmer down next year yet still increase, combined with an expected rise in interest rates these factors may create affordability issues.  So fewer and fewer people may be able to afford a home in this great state of California.
2019 CA Housing Forecast Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
This may cause potential buyers to get cold feet and maybe try to wait the market out.  In effect, some buyers may be sidelined from buying in 2019 with the hope that better deals may be on the horizon if they wait.  Over the past two years, interest rates have gone up by an average of 60 basis points each year.  In 2017 rates were 4.0%.  In 2018 they were 4.7% and in 2019 they are predicted to be 5.2%.  
2019 CA Housing Forecast Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
“The surge in home prices over the past few years due to the housing supply shortage has finally taken a toll on the market,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “Despite an improvement in supply conditions, there is a high level of uncertainty about the direction of the market that is affecting home buying decisions. This psychological effect is creating a mismatch in price expectations between buyers and sellers and will limit price growth in the upcoming year.”

 

2019 CA Housing Forecast Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
In 2018, home values rose 7.0%.  The 2019 forecast is for values to rise only 3.1%.  As a result of California’s affordability issues, homeowners fled their respective counties or even the state at rates as high as 21%-35% in 2018.  This “outmigration” trend is expected to continue in 2019 due to the state’s housing affordability issues.  Looking back to 2013, 36% of the population could afford a home.  That figure has almost dropped every year since and in 2019 they expect only 25% of the population to be able to afford a home in CA.  That is easy to believe since the median price of a home in 2019 in CA is expected to be $593,450.

 

2019 CA Housing Forecast Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
All of these numbers may not seem relevant to you.  But if you are a buyer or a seller of real estate in 2019, please consider some of the implications of this report.  The chief economist referenced the psychological effect.  That affect may be seen in the price negotiations before or during the escrow period.  That affect may be felt during the request for repair negotiations.  People are scared that they may get caught at the top of a bubble and so buyers may become more “cutthroat” in negotiations.  Buyers may operate out of fear more than free market enterprise.  You may not get that top dollar that you were expecting to get before you put your home on the market.  

 

2019 CA Housing Forecast Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
I certainly wouldn’t want to be a for sale by owner in this market.  Due to the high prices of homes and expected rise of interest rates, buyers are scrutinizing the condition of homes and prices more than ever before.  Back after the sub prime mortgage meltdown a decade ago, people were happy to get a fixer upper at discounted prices when compared to 2004-2006 pricing.  But now that values are back up, buyers expect homes to be in good to great shape if they are going to expend the amounts of money needed to buy a home today.  

 

2019 CA Housing Forecast Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
Another side effect is that buyers are becoming skeptical of home prices and skeptical of the agreed contract price of the escrow that they are currently tied to.  So escrows may become harder to close.  It may become more difficult to get buyers and sellers to agree to terms in order to close escrow.  In order to have a successful closed escrow, you need a good Realtor in your corner.  Call me, Jason Nenadov, at 559-246-8991 to learn how I can help you navigate and close an escrow for you whether you are a buyer or a seller.  To see which homes are actively for sale today in real time in Clovis CA. 93619, click here.
2019 CA Housing Forecast Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619
2019 CA Housing Uncertainty Creates Psychological Effect Clovis CA 93619

Written by Jason Nenadov · Categorized: Blog, Uncategorized · Tagged: 2019 CA Housing Forecast, 2019 Home Values Clovis, 2019 Home Values Fresno, 93619, California Association of Realtors, Economic Forecast

Oct 11 2018

 Caught At The Top Of The Market In New Construction Clovis Ca. 93619

 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
 
The real estate market has been humming along for nearly a decade with rising prices.  Don’t get caught at the top of the market in new construction in Clovis CA. 93619 in 2018.  Soon enough, the inevitable is going to happen and prices are no longer going to rise.  And once that happens they probably won’t stay stagnant but they will begin to fall.  
 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
In speaking with different real estate professionals lately on the local level, they have begun to notice a shift in the market this summer.  I noticed it in August and September.  Buyers were no longer fighting over properties to purchase.  Sellers homes were staying on the market a bit longer.  People were reducing the prices of their homes in order to move them.  The spring and early summer feeding frenzy had gone away.  But this didn’t seem like a normal yearly cycle.

 

 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
So what happened exactly?  Did real estate hit the Apex like we experienced a decade ago?  Did the housing market plateau?  I couldn’t tell you exactly because I cannot see into the future.  But I can tell you that a shift is happening.  Perhaps that shift is due to the fed raising interest rates for the 3rd time in nine months.  Perhaps people just can’t afford to keep buying more expensive homes.  Perhaps people are taking the wait and see approach.  

 

 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
But my advice to you at this time would be to not get caught at the top of the real estate market.  I’m mainly talking to those who don’t have the most stable job or experience at your job.  I’m not talking about doctors and lawyers and those with high incomes.  We have been experiencing economic growth over all sectors and have been in one of the greatest bull markets of all times.  But we cannot continue to keep going up forever.  At some point there will be a shift and some think that shift is happening now in the market.  

 

 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Perhaps we don’t experience much of an economic downturn until there is a new president or new controlling party in the senate.  I don’t have a crystal ball.  But I do know that what goes up must come down.  Economies have been cyclical for a long period of time.  Real estate cycles have mirrored ups and downs since mortgages were invented.  I don’t mean to rain on anyones parade that is buying a new house or seriously considering buying new construction.  I’m only cautioning those buying new construction now because new homes are pricy.  If you are buying new construction and plan to remain in the same home for a decade or more then you are probably going to be okay.  It is those people buying new construction now that may experience a job transfer out of the area that need to pay the most attention. 

 

 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
But nobody can predict the future.  This is why I don’t want to see you get stuck with a property that may be hard to unload in the future and be able to at least break even.  I want you to be happy with your purchase for years to come.  So choose your next move wisely.  Call me if you are thinking of making that move.  I’d be happy to guide you through your decision, (559) 246-8991.  To see what is available for sale today in real time, in and around the 93619 Clovis area, click here.

 

 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Caught At The Top Of The Market In New Construction Clovis Ca. 93619

 

 Caught At The Top Of The Market In New Construction Clovis Ca. 93619

Written by Jason Nenadov · Categorized: CA 93619, Uncategorized · Tagged: 93619, brand new homes, clovis CA, equity assets real estate, home builders, new construction homes, resale homes, tract homes

Sep 07 2018

Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619

Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619
 
I wanted to see what new construction was going in between DeWolf and Locan north of Hwy 168.  It had been a while since I had been out there and I was interested in seeing the progress.  I was only intending to visit two different builders/communities but as it turns out I visit four different builder/communities with new construction development.  Originally I wanted to see the Wathen and Wilson community progress but before I knew it I was taking photos of the Benchmark or Century homes and as I wound my way home on Locan I was able to preview the Granville Deauville East community as well.  

 

Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619
Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619
So I snapped a bunch of photos for you to see of the homes in this area so you could get a feel for what they look like.  I didn’t tour any models or get any updated pricing this time.  I simply wanted to capture what these new homes looked like from the street and get some shots of the construction.  I don’t recall if the Century community has any homes left to build.  That Diamondhead community may already be built out?  Regardless, I got some shots of what the final products look like.  

 

Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619
Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619
With virtually no new home construction, at least from tract homes, between 2008 – 2012 there was a large void left in terms of supply.  Babies were still being made during those stagnant real estate years.  As values continued to go up year after year more of the usual homebuilders ratcheted up their operations again and started to develop the land that they had been holding for years.  The void of no new construction for years created somewhat of a boomerang effect to where new construction has been going full throttle for the past 4 years or so.  The effects of this is what has caused this sparsely populated stretch of land between DeWolf and Local from the east and west to Shepherd and Hwy 168 from the north and south to have a whole host of new homes in a short amount of time. 

 

Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619
Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619
To see what homes are actively for sale in and around this new construction community in Clovis CA. 93619 click here.

 

Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619
Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619

 
Clovis Home Construction Booming West of Harlan Ranch Clovis CA 93619

Written by Jason Nenadov · Categorized: CA 93619, Uncategorized · Tagged: 93619, century homes, deauville east, diamondhead homes, Granville Homes, Harlan Creek, Harlan Ranch, new construction homes, The Reserve, wathen homes, Wilson Homes, windsor homes

Aug 30 2018

Granville’s Deauville Estates Home Sales Strong In Clovis CA. 93619

Granville’s Deauville Estates Home Sales Strong In Clovis CA. 93619
 
Looking at the sales data over the past 6 months shows that Granville’s Deauville Estates home sales have been strong in Clovis CA. 93619.  There have been 10 sales in the past six months in this original Granville location located on the South West corner of Shepherd and Temperance Ave.  Just looking at the averages of the sales the size of the average home sale in here was 2,663 sq. ft.  The median home sale price was $497,700 and just under $188 a sq. ft.  That is a descent price per sq. ft. with homes being on the larger size, etc.  

 

Granville's Deauville Estates Home Sales Strong In Clovis CA. 93619
Granville’s Deauville Estates Home Sales Strong In Clovis CA. 93619
Why do people like this neighborhood to the extent that they will pay these high prices?  After all these homes are nearly 20 years old now having been built between 2000 and 2003.  Well, first of all Granville makes a good product.  They are one of the premier builders of tract homes in the greater Fresno/Clovis area and they are a local builder.  They have built up a strong reputation by putting out a quality product over several decades.  That is one of the reasons why this neighborhood is attractive.  

 

Granville's Deauville Estates Home Sales Strong In Clovis CA. 93619
Granville’s Deauville Estates Home Sales Strong In Clovis CA. 93619
Another reason is the location being that it is in North East Clovis.  Everything to the north is open land that will probably one day be future housing development.  But besides the great location there is also a nice neighborhood park and walking paths through this neighborhood.  It was a well thought out community even 15-20 years ago.

 

Granville's Deauville Estates Home Sales Strong In Clovis CA. 93619
Granville’s Deauville Estates Home Sales Strong In Clovis CA. 93619
Besides what has already sold recently, lets look at what is actively for sale now.  The 11 homes that are actively for sale average just under $186 per sq. ft. at a median price of $524,900.  These homes range in size from 1,861 – 4,000 sq. ft. and from three to five bedrooms.  To see what is still actively for sale in real time in and around this Deauville neighborhood, click here.

 

Granville's Deauville Estates Home Sales Strong In Clovis CA. 93619
Granville’s Deauville Estates Home Sales Strong In Clovis CA. 93619
 
 
 
Granville’s Deauville Estates Home Sales Strong In Clovis CA. 93619

Written by Jason Nenadov · Categorized: Blog, Uncategorized · Tagged: 93619, Clovis Real Estate, Deauville Estates, equity assets real estate, Granville Homes, Jason Nenadov, Shepherd and Temperance Ave

May 31 2018

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
 
Do you want to buy a Lennar home for sale around Buchanan High School in Clovis CA. 93619?  I don’t know many people who don’t like a Lennar home.  I know even fewer who don’t like them near Buchanan High School.  These Lennar neighborhoods north of the Buchanan Educational Complex are highly coveted.  I chose to take some pictures and data from between Teague and Shepherd to Clovis Ave. and Cindy.  I found 43 Lennar homes in this boundary that are either currently on the market or are in escrow or sold within the past six months.

 

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Actively Listed
 
Seven Lennar homes are actively listed in this area right now.  These homes range from 2,104 – 3,257 sq. ft.  These homes are priced from $395,000 – $729,000 ($163 – $223 per sq. ft.).  Four of these have lot sizes from 10,000 – 16,280 sq. ft.  These homes have been on the market for an average of 43 days.  Four of these for under 30 days and one has been on the market for 100+ days which is throwing off the average days on market.

 

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Pending Listings In Escrow
 
Six homes are currently pending in escrow right now.  These pending homes range in price from $374,900 – $720,000 ( $160 – $221 per sq. ft.)  These pending sales had an average of 28 days on the market before they went into escrow. 

 

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Sold Homes Past Six Months
 
30 homes have sold within the past six months.  These homes sold from $335,000 – $712,000 ($168 – $210 per sq. ft.).  These sales ranged in size from 1,795 – 3,305 sq. ft.  These homes sold in an average of 35 days on the market.  These 30 sold homes sold for an average of $195 per sq. ft. 

 

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
It is quite noticeable that these figures vary significantly.  This is more of a overall look and not a specific look at what your Lennar home may be worth.  Comparing a 3,000+ sq. ft. Pinnacle Lennar home with a 1,800 sq. ft. Lennar is foolish.  To get more specific details of homes that have sold or that are in escrow which are more similar to the size of your floor plan simply call or text me (Jason Nenadov broker of Equity Assets Real Estate) at 559-246-8991 for free information.  To see what homes are currently for sale and not in escrow yet in and around this Lennar neighborhood north of Buchanan High School click here.

 

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619

 

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619

 

Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619
Lennar Homes for Sale Around Buchanan High School Clovis CA. 93619

Written by Jason Nenadov · Categorized: CA 93619, Uncategorized · Tagged: 93619, Buchanan Educational Complex, Buchanan High School, equity assets real estate, Jason Nenadov, Lennar Homes, Pinnacle Lennar Homes, single story homes, two story homes

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Jason Nenadov
jasonnenadov@gmail.com
559.246.8991
CA. BRE # 01412695

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559 246-8991
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