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The realities of the Fresno-Clovis areas' hot real estate market can be observed in the number of homes that are being built, the lotteries, wait and long lines at open houses.
What happens to local agents and real estate companies such as Century 21, Guarantee Real Estate, Help-U-Sell, builders such as McCaffrey Group, Commercial West Associates, NAI Commercial Pacific, Fortune Associates, CB Richard Ellis, Colliers Tingey International, Grubb & Ellis/Pearson Commercial and many others?
A simple answer which comes from most of them is that they have never been busier. Besides the long waiting list and the lottery tactic they resorted to, a lot of builders can�t seem to keep up with the demand for housing from both local residents and outside buyers. When you talk to any agents, you�ll realize that they get frustrated by the lack of available homes and commercial properties for sale. It won�t be a surprise for you to arrive home from work and many pieces advertising and cards posted to your front door. Each one of them is offering to do something for you. At least, they are trying to create their clientele. A few years down the line, if you decide to sell, you�ll be able to remember them and have their info handy. Many real estate agents resort to soliciting business directly from property owners. When that happens, 90% of the time, they have received some inquiries from potential buyers or developers. In the Reedley area, I have known a nectarine farmer who has received many such phone calls. Each time, he politely decline the request for sale. For the past few years, something exciting has been happening in
North Fresno and along the Blackstone road. The River Park Shopping Center has long become a competitor to the Fig Garden Village, long known as the luxury spot shopping island of Fresno. Now, with the brand name companies such as Best Buy, CompUSA, Sports Authority, Linen and Things, Costco, Target, Michael�s, Ross, Sam�s Super Store, Mervyn�s, Khol�s, movie theaters and national bookstore chains located in that corridor, the attraction is on that side of the town. None of this would be possible without the push and pull of local developers. The Zinkin group and many others had the vision of bringing high-end shopping to Fresno and Clovis, CA.. Once the outside investors realize what�s going on around here, they decide to let their money follow them.
There is no doubt that North Fresno and Clovis have seen their share of the investors� money. Little by little, the new developments start trickling down to less attractive areas of the county. For a long time, Southeast Fresno was not a developer�s piece of pie. After the closures and departures of stores such as Super K, K-Mart from Kings Canyon Road, Home Depot and FoodsCo are now reaching out to throngs of customers. At the same time, developers such as McMillin has building sites in the Jensen/Clovis avenue areas.
If anything, Real Estate has been the rock of the economy. Supply and demand remain the arbiters of the housing market. As more people want a certain product, the price is sure to rise. Buyers and investors want single family homes, commercial/retail properties, apartments, condos, fixer-uppers, foreclosures, duplex, triplex, mansions. The bust of the New Economy has long been behind them. They have seen the stability of the housing market, they are willing to go where they can maximize their purchase. Why settle for one home in the Bay Area when the same money can buy up to three homes in the Valley?
If you have some leads on the sale of some key properties, let us know. The requests have not been more frequent these days. Read Full Story >>>
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