February 2017 Market Report

A seller’s market is defined as an economic situation in which goods are scarce and sellers can keep prices high. So, if you are planning to sell a house, the market is great! If you are buying, it’s a jungle out there.

Here’s a conversation that real estate professionals have on a regular basis:


“How’s the market?”

“Great question, my friend! I hear it all the time. All I can say is that it depends.

“Way to skirt the subject. Seriously, you call yourself an expert? Come on…give me something real. What does it depend on?”

“It depends on whether you are buying or selling! Tell me a little more about your current needs?”


And the chat progresses from there into rhetoric about how it’s a crazy seller’s market. Homes are getting multiple offers the minute they hit the market and selling for over asking price! Buyers have little to nothing from which to choose and a settling for far less home and paying a whole lot more for it to boot.

Sounds awful, right? It depends. Are you buying or selling? 

A seller’s market is defined as an economic situation in which goods are scarce and sellers can keep prices high. So, if you are planning to sell a house, the market is great! If you are buying, it’s a jungle out there.

In my experience, buyers are literally stacking up and having a really tough go at finding homes that meet their needs at an affordable price. There is only one way to remedy this situation and that is to inundate the market with more homes for sale! This can be accomplished in two basic ways. Sell more existing homes and build more new homes.

If you or anyone you know has had even the slightest thought of selling, now is a fantastic time to invite me over to help you find out what your home may be worth. With inventory at historic lows across the state, homes are getting top dollar in next to no time on the market. I would be so happy to help you cash out of an investment property or even sell your starter home to trade up before prices get even higher!

If you are planning to buy, now more than ever you need the advice of a seasoned real estate professional to help you put forth your best offer. Now is not the time to lowball a seller. Most offers under asking price are being flat out rejected because sellers know that multiple more offers will not be far behind. Now is the time to show all your cards and make your strongest offers up front. Your agent can help you with that strategy and negotiate on your behalf to increase the chances you’ll come out a winner.

Take a look at my most recent market report and contact me right away of you have any questions about buying or would simply like an estimate of how much you can profit from the sale of your house.

hows-the-market

Cheers!

Erica

Day 23: Patience, Young Grasshopper, and Bliss You Will Find

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“Grasshoppers can only jump forward….not backward, or sideways. So, when grasshopper shows up he could be reaffirming to you that you are taking the right steps to move forward in your current situation. Or it could be that he is telling you to go ahead and move forward, getting past what is hindering you. This is why grasshopper is the symbol of good luck all over the world. Grasshopper’s ability to connect and understand sound vibrations is why he is also a symbol of your inner voice. He could be telling you to trust yours.” ¹

This grasshopper was just hanging out on the window of FresYes.  I was likely the only one who noticed her presence and of course my first instinct was to take her picture. Isn’t she lovely? Grasshoppers, praying mantises, and dragonflies all have a degree of serenity about them and I prefer to revel in their bliss than be disgusted by their “bugginess”. This particular grasshopper made a cameo in my life on a day when I truly needed a reminder that good luck, good things, and goodness all come from inner peace and patience.  Plus, I’ll take any good luck charm I can get on the day of a Fantasy Football draft!  Thank you, grasshopper, for your subtle yet powerful message that success in life is found within ourselves through patience and perseverance.

Fantasy Football and spirit animals aside, I did manage to squeak in a tour of a charming cottage in Clovis. It’s a cozy 1268 sq ft house near Clovis High School that has a lot of potential as a starter or downsize home for the right person.  The backyard is lush with mature trees and there is beautiful wood laminate flooring in the hallway.  It’s located in a quiet and well-maintained block.  You can tell that pride of ownership is alive and well in this neighborhood.

 

Bliss Collage
Bliss Ave.

 Nice and Clean Gamber Home in Clovis. Big back yard. Beautiful Shade tree in front yard. Many nice features in the 3 bedroom 2 bath home. A/C was replaced 1 year ago. New Garage door. Home offers dual pane windows and water softener/purifier. Automatic Sprinklers front and back.”

 

Note — My commentary stated this house has one bathroom, which conflicts with the listing details.  I may have missed the second bathroom, but I’m 99% sure I opened every door and I only saw one.  If you are interested in purchasing this house, we will need to verify the details.

Cheers!

Erica

PS: I’ll take Fantasy Football tips and hints if you’ve got ’em

¹Source: http://www.crystalinks.com/davidcarradine.html

Day 21: That’s a lot of stuff!

Continuing on with my search for the perfect property for an amazing family who raises livestock, I had high hopes for this 2-acre homestead on Herndon and Highland.  The location is prime, no doubt about it! With mature fruit trees and a cross-fenced area for four-legged friends to roam, it has many of the features I hoped to find.

“This 4 Bed 1.75 Bath, has a large lot that is located with an effortless, short commute to the town of Clovis. While still maintaining some privacy. Wonderful view of the Foothills. There is a large Living Room and Family Room that can easily be enjoyed as a terrific bonus Game Room. The carpets have been cleaned. This home includes Laminate, Tile, and Carpet flooring. Central Heat and Air Conditioner. Property is perfect for the animal lover or Gardener. Fenced and cross fenced for livestock with many fruit trees to enjoy. Plenty of room for RV and Boat parking. This home has fresh interior paint and the floors are in great condition. This home is move-in ready. Call today for your private showing.”

As the saying goes, a picture is worth a thousand words.  A video, therefore, must be worth a mint.  I’m enjoying playing with a variety of media publishing software and have prepared a gem of a movie about this rural home using Apple’s iMovie.  It’s not as glamourous as Magisto, but I like that I can splice clips and pictures together for more control over the storyboard.

As you can see, the house needs some TLC.  The location alone makes this piece of land pretty desirable and the house has some upgraded features such a new flooring in most of the rooms.  For someone who doesn’t mind putting some effort into sprucing up the place, it would be a great buy.  For a family looking for a move-in ready home with modern amenities, I’d say we need to keep the search going.

In closing, here is a little fun to brighten your day.

You’re welcome!

Twix Wiener Dog
A Tootsie-Twix-Kiss Dachshund!  

 

Cheers!

Erica

Day 20: Powers of Persuasion

Details: Plantation shutters add charm to the bedroom windows. The living room and master suite have built-in shelving to accommodate decor. The master bath has patterned glass block windows to maintain privacy and style without adding window coverings.

 

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Powers Ave

Today I toured a house in Northeast Clovis in the Buchanan Estates community.  It sits on a cul de sac street that is very quiet and clean, much like most newer developer-planned communities. This house has lovely curb appeal with tropical trees and shrubs framing the front walkway.  It appears to be well-maintained by the seller while on the market.

A couple observations:

  • CLEAN!  The house is spotless. I had to double check the year it was built because it has the feel of new construction. The while tile and grout are immaculate. The walls are freshly painted. There is no dust on any flat surfaces and the carpets appear to be spot-free.
  • Details: Plantation shutters add charm to the bedroom windows. The living room and master suite have built-in shelving to accommodate decor. The master bath has patterned glass block windows to maintain privacy and style without adding window coverings.
  • IMG_9313
    Muddy Lawn

    The backyard appears to be overwatered. The lawn is muddy and it was soggy under my feet when I walked out to look around. I hope this gets rectified quickly given our severe drought conditions!

  • The price seems high to me. A search of recently sold comparable properties revealed the same model, but with a beautifully landscaped backyard, pool, and solar, sold for much less than the asking price of this one less than six months ago. Additionally, the 20+ houses I’ve looked at in the last couple of weeks have given me a wee bit of perspective on what would be expected in a given price range and this one seems to be priced for location, not amenities. Don’t get me wrong…it’s a beautiful house! Just not beautiful enough to persuade me that it’s priced right.

And without further ado…a video tour.

Cheers!

Erica

 

Day 19: Investor Adventure

Oh, what a day!  It started out in Easton to show a client that cool house I blogged about back on day 1? 2? I can’t remember that far back, lol. No matter. The day started out in the country and it was a very positive showing!

On the drive back to the office to pick up signs for Sunday’s open house, I got a call about an investor coming in from Salinas to look at one of FresYes’ listings. In anticipation of this client wanting to see a variety of choices, I pulled a few comparable listings in the general area and price range of the property she requested to see. She was expected to be in town by about 1pm, so I had a good two hours to finish up my open house activities.

I quickly headed out to Copper River Ranch to put flyers on the golf house neighbors’ doors. Boy-oh-boy was it HOT! Pounding Fresno pavement in August is no joke, especially at high noon. It totally had to be done, though. I have tried several tactics to host a successful open house out there with very little luck, so inviting the neighbors seemed like a good idea at this point.

After placing nearly 50 flyers with neighbors, I headed over to the house I would be showing to the investor to check out the location, as well as the locations of the others I planned to present to her.

Investor Collage
Potential Rental Homes

All of these houses were vacant and a couple of them were foreclosures, so they did not have any staging to speak of.  Of course, the FresYes listing looked lovely inside 🙂

 

To fully narrate the events of the afternoon would be more of a short story than a blog post and no one has time for that these days. Long story short, my investor chose the house in the top left of the collage above as her next rental home and SHE MADE AN OFFER!!!!  Holy smokes, people…my first offer. I doubt this is any kind of record, but I’ve had my real estate license for 45 days.  45 days of hustling, learning, and working my rear-end off.  45 days as a Realtor and 19 days as a blogger and I wrote my first offer — WOO HOO!! Can you tell I’m pretty stoked?

 

offer2
That’s me…with an offer!

 

(Special shout out to my mentor and teacher, Corrie, for getting me through the paperwork.)

So, though the day was long and I was thoroughly exhausted by the time I got home, it was all worth it in the end.  Now cross your fingers for me and my buyer that the offer is accepted!

 

 

 

 

Cheers,

Erica

Day 18: She loved it!

Today I had the pleasure of showing a newly listed, for sale by owner, house to my lovely client and her fiancé. This sweet couple is getting married in May and hopes to get established in their own home prior to the wedding. They had a list of about four properties they were interested in seeing and each time I tried to set up a showing, I discovered they had offers pending. Houses are flying off the market right now and buyers need to be ready to move QUICK!

Today I had the pleasure of showing a newly listed, for sale by owner, house to my lovely client and her fiancé.  This sweet couple is getting married in May and hopes to get established in their own home prior to the wedding.  They had a list of about four properties they were interested in seeing and each time I tried to set up a showing, I discovered they had offers pending.  Houses are flying off the market right now and buyers need to be ready to move QUICK!  This particular house located in a prime location near Woodward Park, was still available on the day of our appointment!  Yay!

boydCollage
Boyd Ave

“Your dream home awaits! You won’t be able to drive by this beautifully maintained home without stopping for a closer look. The mature landscaping alludes to the love and care that this home has given and received. It doesn’t stop there, cool off under the covered back patio or in the pool. With the pool heater, you’ll be able to unwind year round. The back yard includes a dog run for your best friend, a fence and a pool cover to keep the little ones safe and pool sparkling. The vaulted ceilings make this spacious three bedroom home feel even bigger. The central air, fans throughout the home, pool and large trees keep you cool during the summer while the pool heater, pellet fireplace and dual pane windows ensure the winters are just as great. Keep in mind that Liberty Elementary, Kastner Middle and Clovis West High are all within an eight minute drive.”

boydCollage2
Look at that adorable pellet fireplace insert!

The front yard is lush with trees and other drought-resistant foliage.  This cottage has really lovely curb appeal. As I waited for my clients to arrive, I observed neighbors going about their lives.  There were children playing and other signs of a very friendly block.  Perfect for a newly formed family just starting out!

boyd Collage3
In-ground HEATED pool and spa!

While the kitchen and bathrooms haven’t been updated from the original design in 1991, they are very clean and in great shape.  This one really captured the hearts of my clients.  I’m looking forward to helping them navigate the decision to make an offer.

Cheers!

Erica

Day 17: I thought I saw a guest house…

WHERE IS THE GUEST HOUSE? Seriously, there is no way there’s a guest house here. I look in every room again for secret passageways to a hidden guest house.

While looking for properties with separate guest houses, I came across a listing in a desirable Clovis neighborhood that appeared to fit the bill.  Since the listing photographs didn’t clearly depict the location and size of the guest house, I decided to preview the house before taking my client to see it.

“Traditional Sale in award winning Clovis Schools! Beautiful DeYoung 4/3 with guest house with its own separate entrance perfect for guest/in-laws/rent. Tile and hardwood floors, tile roof, ceiling fans in all rooms, dual pane windows, built in cabinets in laundry, dual fireplace in formal and family room, enclosed back porch, hallway built-in cabinets for extra storage, concrete in back and sides, new front lawn, 2 car garage with auto opener. Open kitchen with island, pantry, microwave, electric stove, dishwasher and tile counters. Storage shed in the back. Large master bath with separate tub and shower, walk-in closet, double sinks, tile counters. Hall bath has tub/shower combo and tile counters.”

Looks good, right? And the list price seems great for a two house property, as well.

 

DeyoungCollage1
DeYoung Dr.

My first impression upon entering is that it’s a clean, well-maintained house and so very blanc. Blank slate, ready to be decorated by its next occupants…excellent! I wander into the kitchen (seriously…I’m obsessed with kitchens!) and take note of the cabinets, pantry, sink, appliances, and island.  All in good condition!

Moving along through the master bedroom, I notice lots of natural light illuminating the lovely wood floors.  Cozy in size, yet nice.  I then tour the two secondary bedrooms, hall bathroom, laundry room, and garage.  And that’s it.

Wait…what?  That’s it? This place is supposed to have a guest house.  WHERE IS THE GUEST HOUSE?  Seriously, there is no way there’s a guest house here.  I look in every room again for secret passageways to a hidden guest house.  Maybe it only appears when you truly need it…a room of requirement, if you will. Maybe it’s only visible on a Maurader’s Map for truly worthy occupants. Maybe…maybe…could it have been mismarketed??  No way, that’s a pretty significant oversight.  Why can’t I find the guest house?

By this time I’m completely second guessing my competence as a human being, let alone as a Realtor.  What well-adjusted adult can’t see a friggin’ guest house???  Riddikulus!

As I throw in the proverbial towel and go out the front door to leave…all the while pondering the mystery of the invisible guest house, I casually glance to my right at a door that I had assumed was the garage.  But why would there be a garage door right there… Could it be the missing guest house in disguise?  I’m skeptical, but I unlock the door anyway.  Helloooo guest house!  Well, guest room is more like it, since there’s no kitchen, but still.  I  found it.  Yayyyyyy!

deyoung Collage2
Backyard with enclosed patio

Mischief managed 😉

Cheers,

Erica