Driving Up & Down Home Values: Spotlight on U.S. Homebuilders, California's Central Valley, Fresno, Clovis, Calif. Real Estate
Sunday, 26 March 2006
The Central Valley is a Construction Zone: From Fresno-Clovis, Kerman, Madera, Modesto, Los Banos to Bakersfield Topic: Encroachment/Development
Before Fashion Fair, there was Manchester Mall. Then the RiverPark Shopping Center came on the Fresno-Clovis shopping scene. Well, there was the Fig Garden Village as the most exquisite place to spend money. It has the hip hangout shops and upscale boutiques. RiverPark has it all: Movie theaters, booksstores, mega stores inviting mega shopping and eateries. With the influx of a large population searching for a better return on their dollar and fleeing the pricey real estate of the Bay area and Orange County, there are people with enough disposable income to shop. So more businesses get created to meet the increasing needs of willing consumers. The major national retailers started to pay attention to the Fresno-Clovis shopping trends. It has been reported that the RiverPark Shopping Center makes so much money that most business owners want to locate their business there. The G or Gottschalks has already built its tribute to the shopping power of the Valley. The G is located right there. As soon as one shopping center is completed, new projects are announced. There is always something going on around here.
Here is a list of homebuilders who are trying to keep up with the high demand for residential and commercial real estate in the Valley. Where can you find the best homes and office spaces in the Valley?
Developed by Wathen-Castanos.com, Town & Country is described as the perfect combination of elegant living, beauty and the simple convenience of open space- inside and out. The reputed local homebuilder presents Town & Country as an ideal place for families craving spacious living in a luxurious home. This would be perfect for the Bay Area residents and Los Angeles homeowners who want to have a great residential living space. For $400,00, you can expect to have five single and two-story homes, up to seven bedrooms, five baths, three-care garage, oversided bonus or game rooms. The company wants to combine elegance and flexibility. This is not all folks, if you ca not afford the above homes, Wathen-Castanos has about 7 plans priced from $259,900 to 326,900 that you can choose from. You can find this new development at The European Grove. It is baptized as "Affordable Luxury in the New Fig Garden." Here is how Wathen-Castanos presents the new project at The European Grove.
"Experience an Old-world feel... at the European Grove." If you are a first-time homeowner, you can check the company. If you are looking forward to downsizing to a smaller home, then the European Grove is perfect for you. Now, wait until you read about the location of the European Grove. It is located near schools, upscale shopping centers, quaint restaurants and a movie theater. This type of description only invites to grab the phone and call. You can visit one of the company's models from 11 am to 5 pm.
Posted by Fashionista Shopping Analyst
at 3:58 PM EST
Inventory Control: Everybody Wants to Cash in on their House Values in the Valley Topic: Refinancing/Interest Rate
The investors from the Bay Area, Los Angeles and Orange County have already invested their money in the hot real estate market that the Central Valley of California has ever known. For the past few years, house values have only gone up. Homeowners have benefitted from their home equity. A lot of them took money out to invest in their house and other businesses. Now that we are facing a cooling down of the market, many of these investors who were seeking better shores to make their money work for them are seeking to unload their inventories. No wonder that this seller's market has quickly changed to hot buyers' market. Shopnowshopping Million$$$Homes: The amount of homes for sale has increased in the past few months. So the more homes for sale there are, the lower the price of a home will go.
As I travel all over the floor of the San Joaquin Valley, I see for sale signs springing up in poor as well as rich neighborhoods, from Van Ness, Herndon Ave. to Clovis, Kings Canyon, Sanger, Fowler, Kingsburg, Reedley, Modesto and Bakersfield. What is clear is that investors and homeowners are racing against the clock. They want to get top prices for their homes. They do not want to see the ultimate selling price of their homes gets smaller than the buying price. Then, that would be a clear bust. They are dreaming about the boom of yesterday. They are not willing to cut down the selling price. Those who get wise enough to consider asking for less are seeing some interest. The market is such that all the buyers decide to wait out until the selling price of homes gets really low. Buyers are now in control again.
Here are a few ways that some Fresno-Clovis homes are marketed to attract buyers. A lot of these homes focus on their signs of distinction and luxury. Some times, even the names of the builder are used. There is some cache of excellence and great architecture hidden in adding the names.
"A fabulous home in the heart of Old Fig Garden and charming Wilson Ave. Beautiful hardwood floors, a burst of color and contemporary lighting compliment the loving space. Plantation shutters throughout, dramatic fireplace in the Living Room, plus a lovely formal Dr. A bright remodeled kitchen with the classic corner window and cozy breakfast nook, along with 5-burner gas stove and quality stainless steel appliances. The 4th bedroom is used as an office, has built-in wardrobe and storeage. Remodeled master suite with jetted tub, marble carrara floor, designer Kohler sink, glass black studded shower and walk-in closet. Approximately 16,650 s.f. of land with a long driveway that leads to a spacious 2-car garage. Quaint brick walkways, pations, BBQ and lush landscaping. The asking price is $675,000."
Real estate agents and brokers are a little uneasy about the sea of change. Spring is supposed to unleash consumers searching for new homes. Well, they are out, but they have too many homes to look at. The market appears ready for a flood. There is a rush to unload, a rush to get out on top. Homeowners are willing to relocate to more rural areas or other states with a lower living standard. They want to dwell on their money. More listings of home of luxury are noted:
"A lovely home on the San Joaquin Country Club, located off the 6th fairway. Fabulous pool and rock waterfall surrounded by Bomanite decking and patio area. Beautiful double front doors with leaded glass windows and wood floors int he entry and kitchen. Huge living room/dining room combo with beamed ceilings, fireplace, pass-thru service window to the kitchen and slider door to the pool and patio area. This kitchen is filled with built-in cabinets, ample storage, appliance nook, desk and pass-thru bar to the patio. The breakfast area has a full bar with sink, adobe fireplace in the FR, a wonderful casual area with spectacular views of the pool, patio and country club greens. The floor plan includes a 4th bedroom, making the third bedroom double, with 2 closets, lots of built-ins, a great game room, office, library, the possibilities are endless. The master suite has a handsome gas fireplace with/entertainment center, a setting area and access to the patio area. The bath includes dual sinks, vanity, spa tub and stall shower. Approximately 2886 s.f. with 2-car garage and extra paved parking. Asking price: $950,000."
Somehow, there is money to be made in marketing luxurious homes. London Properties, Ltd. appears to have done a good job of marketing these homes. Many potential buyers flushed with cash from the sales of their Bay Area or Silicon Valley assets seek builders of homes of excellence in the Valley. Some of the names that come to mind are: McMillin, Gary McDonalds, Cambridge Homes, Wathen-Castanos, Granville homes, Lyles Diversified, Joaquin Valley properties, Beazer Homes, de Young homes and the McCaffrey Group, Wilson Homes, KB Home, Centex Homes, DR Horton Homebuilder, generation Homes etc.
Buying and Selling Homes of Distinction in the Central Valley Topic: HomeBoom DataSystems
The Best Time to Go House-hunting
Of course, people who want to buy a home shop all the time. But many real estate experts say that these people are actively looking when Spring arrives. In the past few years in the Central Valley, every day was a good day to strike a deal. And agents lived through the busy times of the local real estate boom to tell about it. From San Francisco, San Jose, CA to the other parts of the Golden state, millions of homes were sold in the past few years. It was the hottest real estate time in the real estate industry. Houses did not stay long on the market. For the sellers, it was just a matter of putting up some for sale signs and receiving countless requests. Then, it was a sellers’ market. Sellers did not have to do much. There were stories of agents selling up to 20 homes in a few weeks. Super agents always saw their commissions rise thanks to the large high demand from folks wanting to purchase. The Central Valley benefited from this boost in real estate values. There is no doubt that developers and homebuilders have enjoyed the greatest real estate boom in many years.
The McCaffrey Group: Homes of Excellence Topic: Hot Real Estate Areas
The whole Valley is a construction zone. Among all the builders in the San Joaquin Valley, The McCaffrey Group builds homes of distinction that most homeowners love and appreciate. Owning a McCaffrey home automatically puts you in a different category. The attention to the details and architecture is what attracts most people to the John Bonadelle's creation. It is worth noting that late John Bonadelle is a pioneer in the local building industry. On the company's web site, you can read this: "The McCaffrey Group, started more than 50 years ago by John Bonadelle, has grown steadily since it was purchased 26 years ago by Bob McCaffrey and his wife Karen McCaffrey, Bonadelle's daughter." The daughter is continuing the elegant construction of the late father. Bob and Karen McCaffrey want to build the best homes for your family. They are committed to the community. They want to continue the tradition of excellence. After all, they know that a satisfied customer keeps the business going. What is great about this couple is that they have local ties. They are living among us. They are not a few-project-builders. They are here for the long run.
Among some of the communities they have developed, we find the Hampton Renaissance at Loma Vista in Clovis, One Opus Drive, Bellamontagna, Hampton Renaissance in Fresno, Hampton Chateaux and Trend Big Country subdivisions.
Check the company's website for further info: http://www.mccaffreygroup.com/communities.html
Drops in Housing Prices Are Not Going to Happen Soon Topic: HomeBoom DataSystems
DataQuick Information Systems report that the median price of a home in Los Angeles, San Diego, Orange, Riverside, San Bernardino and Ventura counties was $480,000 in February. In Fresno-Clovis areas, it has been reported that the rate of incrase was the lowest in four years according to La Jolla-based DataQuick. That does not mean that home sellers are going to just liquidate their house. They may have to lower a bit their initial asking price. No matter what they are still going to make lots of money. The problem is that many people who are interested in buying a new home may chicken out. Some of the asking prices may push them away. In a new Sanger, Calif. and Herdon area developments, for sale signs were in front of many new homes. Obviously, these are investment homes that the owners knew they would sell any way.
McMillin Homes offers three new neighbhorhoods at Sunnyside Ranch in Fresno. I visited the construction site yesterday. I was blown away by the amount of activities that exist there. What attracted me was the order, coordination and cleanliness that exist all over the site. It was lunch time. The workers took a short break to open their brown bags. Nearby, fresh cement was settling in. For some reasons, there is an existing home that is kind of in the middle of all this construction. It looks like the buyers did not want to be bought out. The Corky McMillin Companies appear to respect their decision. Even though the home is in a huge construction zone, access appeared normal. We do not know whether the current occupants have any complaints.
Getting back to the new upscale community in the Fresno area (Jensen and Clovis Ave areas), it is scheduled to be a one of the main highlights of the area. The three new neighborhoods that will form this new community will include names such as Appaloosa, Cheyenne and Palomino. If you want to have your own McMillin home, here is your chance. Come on down, wherever you are in the Bay area or elsewhere. Just in case you do not know much about the type of homes built by McMillin, satisfied owners of the company homes are known as high-class professionals who want to raise their family in an architectural jewel they can be proud of. Mcmillin built some homes in Clovis, Visalia and elsewhere. They were bought in a heartbeat. Homes built by McMillin are great investments in the future of your family.
On the company's website,[mcmillinhomes.com] you will read the following, "The Corky McMillin Companies was founded in 1960 by Macey L. “Corky” McMillin Jr., the company’s Chairman since its founding in 1960. The Corky McMillin Companies has established a reputation for community building. It has become known for developing projects that stand on the firm foundation of consensus, respond sensitively to people and the environment, and resolve resource challenges related to schools, public facilities, and onsite and offsite infrastructure." Everybody around here wants to own one of its homes.
Driving down to the new community, here is what I found out:
Directions to Sunnyside Ranch by McMillin Homes
From Highway 99, exit Jensen Avenue and head East; turn North at Clovis Avenue and continue North to California.
Directions to Colby Park by McMillin Homes: ? Exit Freeway 99 at Jensen Avenue and travel East to Fowler Avenue.
? Turn North on Fowler to Shields.
? We are the corner of Shields and Fowler.
Posted by Fashionista Shopping Analyst
at 9:22 AM EST