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2017 in Review!

In looking back at the past year, we saw a steady growth in the real estate market here in Kingsburg. In 2017 we sold a total of 128 homes within the city limits.  In 2016 we sold 115 and the previous 4 years also showed an  upward growth pattern.  We continue to experience very low inventory and low interest rates.  It is taking less time to sell homes and the average sales price has increased slightly also.

We hear that the housing market forecast for 2018 is expected to be somewhat the same; slow growth, low inventory and low interest rates.

Our current available inventory of Active Kingsburg listings is very low at 17 homes for sale. However, we had 23 homes that Sold and closed escrow in the past 90 days. In talking to other local agencies, we all experienced a busy November and December, when normally, these two months are pretty slow.

The launch of our new mobile platform property management system went very well and we are off to a good start for the upcoming year.  It is so awesome to be able to receive and deposit rents from any mobile device.  They say that we can operate our property management division from the beach in Maui, but I am not sure if we will be able to do that.  Although it sounds pretty neat!

Upcoming Events: 

Communities of Compassion and Courage Exhibition: On going until February 5th at the Kingsburg Historical Park. For more information regarding hours of admittance please visit:  http://kingsburghistoricalpark.org/event-item/communities-of-compassion/

Chamber of Commerce Annual Dinner Thursday, February 15th at 6:00.

Kiwanis Pancake Supper Saturday, February 24th from 5:30 pm to 7:30 pm at Orchard Church on Stroud.

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.

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.

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