C.A.R. REPORTS MEDIAN HOME PRICE INCREASED 12.8 PERCENT IN MAY

The median price of an existing, single-family detached home in California during May 2005 was $522,590, a 12.8 percent increase over the revised $463,320 median for May 2004, C.A.R. recently reported. The May 2005 median price increased 2.5 percent compared with April's revised $509,630 median price."The California housing market passed an important threshold in April, when the median price rose above $500,000 for the first time," said C.A.R. President Jim Hamilton. "This trend continued in May, with the median price approaching $525,000. At these prices, eroding affordability and concerns about rising interest rates are constraining sales."

Fresno Real Estate Market Continues Booming!

Inventory of homes and condos for sale in the Fresno and Clovis area remains low, continuing the boom market we have been seeing for nearly 5 years straight. The number of available homes in the Fresno MLS today was 862 "active listings". This is a low number for all of Fresno and Clovis area. This limited supply, along with low interest rate loans is the reason prices have been increasing steadily again this year.

Realty Concepts Unveils New Programs for Clients!

My office, Realty Concepts has unveiled two new programs in June 2005, that are benefits to our clients. We have a "Guaranteed Sale" program, in which we will guarantee the sale of your home within 30 days or we will credit you up to $2500 at the close of escrow. The other program is called "Love it or Leave it", in which if you purchase a home from us and within 90 days of closing, if you are not 100% happy with your new home purchase, we will list the property for free. Both of these benefit programs are currently available under certain guidlines.

More and More People Becoming Realtors!

Can you believe that as of today 6/3/2005, there are over 3600 Realtors in Fresno MLS, and to make it worse there are less than 800 active listings available in all of Fresno and Clovis. The market is very HOT with activity. Properties are still increasing in value and the real estate business is attracting many new licensees. If I were a buyer or especially a seller, I would want to work with an experienced Realtor, not a "newbie". Why would you trust your biggest investment to be handled by a rookie? I'm certain that my experience benefits my clients because I know the business well and have many contacts in all areas of the field, from service vendors, to contractors, to lenders and everyone affiliated in our local real estate market. I generally can save my clients money in the long run. Just a couple years ago we had less than 1000 agents working the Fresno market. I know that as the market cools down, and it eventually will because it can't increase forever, many of these newer agents will leave the business and get into something else. I don't feel threatened by the current number of agents, as I am in this business for the long run, I've seen the market go up and down over the last 24 years and I have the skills to make money in any kind of market

Investors Buying Up Fresno Properties!

I've never seen anything like it in all my experience selling homes in the Fresno area. Most of the sales activity, seems to be from out of town buyers. I'm seeing most buyers coming from the bay area or San Jose. I estimate that 50% of the business is from out of towners. Our prices are considerably lower than most cities in California, with our median price currently just under $300,000, and slightly over $300,000 for Clovis. For this reason, investors have flocked here and are able to make good, solid investments .