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Annexation and an update on Kingsburg subdivisions

Annexation:  What is it?  Annexation is the process by which property is incorporated into the City of Kingsburg from unincorporated Fresno County.  The property must be located within Kingsburg’s Sphere of Influence and approved by the Fresno Local Agency Formation Commission (LAFco).

Currently there are 4 parcels in Kingsburg’s Sphere of Influence that are in various stages of the above annexation process.  All 4 plots of land are located north of Stroud; two on 10th Avenue and two on 18th Ave.  At this time, it is speculation as to what type of homes will be built and the time frame involved.  But just note that it looks like we have some new development in the works, hopefully soon.

Our current available inventory of Active Kingsburg listings is still low at 25. Only 14 homes Sold and closed escrow in the past 90 days. The 3rd quarter of the year is typically busier than it was this year.  To put it in perspective, in 2016 we sold 22 homes within the same time period.  One would think that with the inventory so low with not much availability, we would have sold more homes.  And now the market is starting its traditional slowdown as we head into fall and the holiday season.

Upcoming Events: 

Vintage Hollywood Ladies Night Out: Thursday, November 2nd from 5:30 pm to 8:30 pm in downtown Kingsburg.

Julganfest: Friday, November 24th from 6:00 pm to 8:pm in downtown Kingsburg.

Santa Lucia Celebration: Saturday, December 2nd from 10:00 am to 7:00 pm in downtown Kingsburg.

On a personal/family note:  2017 marks the 30th Anniversary of a day our family calls our Annual Bake Day.  Every year the day after Thanksgiving, my son Damon and I get together and bake cookies, breads & goodies (along with just about anybody that wants to stop by and help stir or eat).  We flash freeze these immediately and 2 weeks prior to Christmas, we put together trays of these goodies and give them as gifts to family and friends. This day is so precious to my son and I and it has grown into quite a family tradition.  30 years is a long time!

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  We welcome your response.

2nd Quarter 2017 Real Estate stats for Kingsburg

On June 14th, the Federal Reserve increased its federal funds interest rate by 0.25%. They’re also widely expected to raise rates once or twice more over the course of 2017. What does this mean for the real estate market?  While any action by the Fed always garners a lot of attention, we believe these increases will not have any significant impact on our market. These increases should not have any significant impact on our market.

Looking back at the 2nd quarter of 2017, we were low on inventory, down on number of Days on the Market and high on the Price per square foot.  These numbers reflect properties that are located with the Kingsburg city limits and listed in the Fresno MLS.

Active current Listings 27 as of 7/1/17

Average DOM (days on market) 66

Average PSF (price per sq. ft.) $160

Average listed price $324,350<p>

Sold Listings, 31 from 4/1/17 to 6/30/17

Average DOM 23

Average PSF $161

Average Sold price $254,856

Harvest Moon Music Festival

Saturday, September 23rd at 3 pm to 10 pm; accumulation of popular festival activities from the past spliced together for a fun, early-Fall, evening. Swedish Village

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  We welcome your response.

Pets or No Pets …. That Is the Question!

The buzz words for today are “Pet Friendly”.pet-friendly  According to the American Pet Products Association’s (APPA) National Pet Owners Survey, Americans now own approximately 83.3 million dogs and 95.6 million cats. That translates into nearly 50 percent of homeowners owning at least one dog and more than 45 percent owning at least one cat. And managing property is no exception.   It is difficult to rent a property that does not allow pets. Seems like 90% of renters own a dog, maybe two and cats.

Here are the standard risks from tenants who own pets:

  • Potential damage to the property
  • Physical injury to neighbors or yourself
  • Possible noise nuisance
  • Allergens and dander will get in the air ducts and carpet

And the benefits:

  • Additional income from increased rent or pet fees
  • Larger pool of tenants to choose from
  • Increased tenant enjoyment because of Fido
  • Tenants with animals seem to sign longer leases

Whether you allow pets as a landlord or do not allow them, there are ways to mitigate your risks.  Give us a call at 897-4077 to speak with Leonard about ways to mitigate these risks and become “pet friendly”.

The number of Sold properties for the month of January in Kingsburg came in at a total 8, only one less than December.  The price per square foot was the same at $148.  We’re also seeing more offers on larger, higher priced homes. The average price of the Sold homes was $335,756, which is significantly higher than the past several years.  The highest home that Sold in January was $480,000, a 5 bedroom, 3 bath, 2700 square foot home built in 2015.  It is taking about 60 days to sell a home in Kingsburg, which is pretty normal for this time of year.  We do see the real estate business picking up as we are coming into the best time of year to sell and buy.  Interest rates are still considerably low at 4.25%

Upcoming Events: 

Kingsburg Kiwanis Pancake Supper: Saturday, February 25th from 5:30 pm to 7:30 pm at the Orchard Bible Fellowship, 2400 19th Ave.  Lots & lots of silent auction items and all proceeds go to community projects and school scholarships.

Annual Car Show: April 14th & 15th, Downtown Kingsburg.  More details to follow.

Thank you for taking the time to read this blog.  If you have any questions, please feel free to send us your comments.  We welcome your response.

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