Source: The Business Journal
Written by Clay Moffit
Manuel Perales isn’t bashful in stating he modeled the High Sierra Grill House after the popular Dog House Grill near Fresno State, but he aims to provide a more rustic, classic ambiance when his restaurant opens next month.
The grill has a projected opening date of Aug. 24 and is located at 2003 W. Bullard Ave. in the former Bentley's Steaks location in the Pavilion West Shopping Center.
Perales is also an owner of Yosemite Falls Cafe, which has three locations in Fresno and one in Clovis.
The ordering process at High Sierra Grill House will be similar to the Dog House Grill, where the customers place their orders and wait for their numbers to be called.
There will also be a full-service bar lounge area. Perales said the restaurant is divided exactly in half for quick service and the other half is for full service.
The smoked tri-tip will be the signature dish.
“The tri-tip’s whole cooking process takes about 7 hours and when it’s done it’s very flavorful and tender,” Perales said.
The menu will also include baby back ribs, fish tacos with mango salsa, burgers, pulled pork and chicken sandwiches, as well as slow-roasted chicken and salmon.
Eighteen high-definition television sets will surround the 230 seats of the 6,600 square-foot interior of the new establishment.
“There will be a couple of selected nights that will be designated as family night where people can bring their kids in and after dinner, go outside and roast s’mores,” Perales said.
The restaurant will have a staff of 75 employees.
Perales has two business partners— Paul Ybarra and Mario Medina—but he will run the day-to-day operations.
La Mark Construction Company of Fresno will be the contractor for the remodel.
URL to original article: http://www.thebusinessjournal.com/news/retail/7084-yosemite-falls-owner-to-open-new-fresno-restaurant
For further information on Fresno Real Estate check: http://www.londonproperties.com
Wednesday, July 31, 2013
Valley real estate industry not afraid bubble brewing
Source: The Business Journal
Written by Chuck Harvey
As home prices and demand begin to rise again, some residents fear another real estate bubble may be building. However, homebuilders, real estate agents and mortgage brokers insist that conditions are different now, including tougher qualifications for purchasing new or existing homes. Demand for housing has picked up in recent months, but it is not nearly as strong as it was from 2001-2006 when the last bubble inflated to monster proportions. And home availability is limited by a shortage in supply. Also, the number of annual building permits for new home projects have been in the hundreds in major San Joaquin Valley cities in recent years, compared to more than a thousand each year back in 2002-2004. Interest rates are still low, but have been slowly creeping up. And they are expected to continue rising as the job market improves. “Rising interest rates will help prevent another bubble,” said Andrew Wong, director of strategic marketing for Centex Homes. Wong added that today’s tougher loan requirements would prevent most people from getting overextended in credit. “They will not overbuy,” he said. John Bonadelle, owner of Bonadelle Neighborhoods in Fresno, said that unlike the years of the bubble, recent new home price increases have been modest. “We are not where we were six to seven years ago,” Bonadelle said. Also the MLS (multiple listing service) has a limited number of homes for sale right now, he said. Without a lot of homes to purchase, the bubble has little to grow on, he said. “Somebody has to provide housing,” Bonadelle said. “So I don’t believe in a bubble. There’s not much inventory out there.” Bonadelle recalled that six years ago new home prices rose every month. And builders couldn’t construct homes fast enough. That’s not happening now, he said. He added that although there are quite a few improved lots ready to build on, most of the lots are already planned for and are not available for spurts in demand. The basic thought is that even if financing loosened some and demand for new homes soared, it would take time before homes would be available to fill the demand. That would likely limit the size of any new real estate bubble. Dan Hawkins, agent for Realty Concepts in Fresno, said strong demand for existing homes coupled with low supplies have boosted resale home prices significantly in recent months. That has created an artificial bubble, Hawkins said. If new home construction picked up, that situation could change. But building has been slow to pick up again, Hawkins said. As for existing homes, listings are so few that each home receives three to eight offers in the first week it is on the market. Hawkins said more buyers are looking at homes in the Valley now, including some people who gave up homes in short sales during the peak of the market crash. He explained that only about 660 homes are listed in the Fresno area each month. Just a year ago, 3,000 homes were listed monthly. “So there’s pretty heavy demand,” Hawkins said. “We have a big bubble in terms of pent-up demand,” said Mark McMillin, president of McMillin Homes in San Diego. “I don’t know if we have another bubble based on bad loans coming down the pipe.” Mark Navarro, chief financial officer for California Funding and Investments in Fresno, agreed that demand has hit the roof. “We could sell twice as many homes if they were available,” Navarro said. However, an increase in interest rates should slow demand some, he said. Navarro said that although the number of homebuyers has picked up again, the risk of buyers qualifying for a home they can’t afford has sharply declined. One reason is the maximum cost to debt ratio is now 45 percent. It had been 65 percent. Low down-payment FHA loans are still available, but the borrower must now pay a substantial amount to guarantee the loan. The borrower typically pays $4,375 in a lump sum and $281 a month just to guarantee the loan, Navarro said. That has led some borrowers to move from FHA to traditional loans, he said. Conventional loans are cheaper, but credit requirements are much more stringent. Navarro said 75 percent of his customers previously requested FHA loans. Now it is a 50-50 mix with conventional loans, he said. The result is that borrowers must now be more qualified. That has Navarro convinced that the age of the big real estate bubble is behind us. “There is no bubble,” he said. “And there is not just one reason. Everyone who buys a home now is a real buyer … really a quality buyer.” Although prices have increased some, pricing is still artificially deflated, Navarro said. Also, homebuilding remains slow, he said. Builders constructed about 2,400 homes each year in 2005-06. But they only built about 300 homes annually over the last three years. Navarro said he sees the market stabilizing rather than surging into a new bubble. He points out that move-up buyers are on the market again and that is a good sign of market stabilization. It is in contrast to the flood of buyers that often spent beyond their means during the bubble period that led to the real estate crash.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/7074-valley-real-estate-industry-not-afraid-bubble-brewing
For further information on Fresno Real Estate check: http://www.londonproperties.com
Written by Chuck Harvey
As home prices and demand begin to rise again, some residents fear another real estate bubble may be building. However, homebuilders, real estate agents and mortgage brokers insist that conditions are different now, including tougher qualifications for purchasing new or existing homes. Demand for housing has picked up in recent months, but it is not nearly as strong as it was from 2001-2006 when the last bubble inflated to monster proportions. And home availability is limited by a shortage in supply. Also, the number of annual building permits for new home projects have been in the hundreds in major San Joaquin Valley cities in recent years, compared to more than a thousand each year back in 2002-2004. Interest rates are still low, but have been slowly creeping up. And they are expected to continue rising as the job market improves. “Rising interest rates will help prevent another bubble,” said Andrew Wong, director of strategic marketing for Centex Homes. Wong added that today’s tougher loan requirements would prevent most people from getting overextended in credit. “They will not overbuy,” he said. John Bonadelle, owner of Bonadelle Neighborhoods in Fresno, said that unlike the years of the bubble, recent new home price increases have been modest. “We are not where we were six to seven years ago,” Bonadelle said. Also the MLS (multiple listing service) has a limited number of homes for sale right now, he said. Without a lot of homes to purchase, the bubble has little to grow on, he said. “Somebody has to provide housing,” Bonadelle said. “So I don’t believe in a bubble. There’s not much inventory out there.” Bonadelle recalled that six years ago new home prices rose every month. And builders couldn’t construct homes fast enough. That’s not happening now, he said. He added that although there are quite a few improved lots ready to build on, most of the lots are already planned for and are not available for spurts in demand. The basic thought is that even if financing loosened some and demand for new homes soared, it would take time before homes would be available to fill the demand. That would likely limit the size of any new real estate bubble. Dan Hawkins, agent for Realty Concepts in Fresno, said strong demand for existing homes coupled with low supplies have boosted resale home prices significantly in recent months. That has created an artificial bubble, Hawkins said. If new home construction picked up, that situation could change. But building has been slow to pick up again, Hawkins said. As for existing homes, listings are so few that each home receives three to eight offers in the first week it is on the market. Hawkins said more buyers are looking at homes in the Valley now, including some people who gave up homes in short sales during the peak of the market crash. He explained that only about 660 homes are listed in the Fresno area each month. Just a year ago, 3,000 homes were listed monthly. “So there’s pretty heavy demand,” Hawkins said. “We have a big bubble in terms of pent-up demand,” said Mark McMillin, president of McMillin Homes in San Diego. “I don’t know if we have another bubble based on bad loans coming down the pipe.” Mark Navarro, chief financial officer for California Funding and Investments in Fresno, agreed that demand has hit the roof. “We could sell twice as many homes if they were available,” Navarro said. However, an increase in interest rates should slow demand some, he said. Navarro said that although the number of homebuyers has picked up again, the risk of buyers qualifying for a home they can’t afford has sharply declined. One reason is the maximum cost to debt ratio is now 45 percent. It had been 65 percent. Low down-payment FHA loans are still available, but the borrower must now pay a substantial amount to guarantee the loan. The borrower typically pays $4,375 in a lump sum and $281 a month just to guarantee the loan, Navarro said. That has led some borrowers to move from FHA to traditional loans, he said. Conventional loans are cheaper, but credit requirements are much more stringent. Navarro said 75 percent of his customers previously requested FHA loans. Now it is a 50-50 mix with conventional loans, he said. The result is that borrowers must now be more qualified. That has Navarro convinced that the age of the big real estate bubble is behind us. “There is no bubble,” he said. “And there is not just one reason. Everyone who buys a home now is a real buyer … really a quality buyer.” Although prices have increased some, pricing is still artificially deflated, Navarro said. Also, homebuilding remains slow, he said. Builders constructed about 2,400 homes each year in 2005-06. But they only built about 300 homes annually over the last three years. Navarro said he sees the market stabilizing rather than surging into a new bubble. He points out that move-up buyers are on the market again and that is a good sign of market stabilization. It is in contrast to the flood of buyers that often spent beyond their means during the bubble period that led to the real estate crash.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/7074-valley-real-estate-industry-not-afraid-bubble-brewing
For further information on Fresno Real Estate check: http://www.londonproperties.com
Monday, July 29, 2013
Valley attorneys named Super Lawyers
Source: The Business Journal
Dozens of attorneys in the Central Valley were given an honor only enjoyed by 5 percent of lawyers in Northern California. Every year, Super Lawyers, a Thomson Reuters business, names the top attorneys in California in more than 70 practice areas based on peer recognition and professional achievement. A majority of the Valley's Northern California Super Lawyers for 2013 are located in Fresno, although several others work from Hanford and Visalia. The following attorneys were distinguished with the title in 2013: • Richard M. Aaron, Dowling Aaron Incorporated • K. Poncho L. Baker, Barsotti & Baker • Kenneth A. Baldwin, McCormick Barstow • Michael F. Ball, McCormick Barstow • Daniel R. Baradat, Baradat & Paboojian • Todd W. Baxter, McCormick Barstow • Hagop T. Bedoyan, Klein, DeNatale, Goldner, Cooper, Rosenlieb & Kimball • Mario L. Beltramo, Jr., McCormick Barstow • Shelline K. Bennett, Liebert Cassidy Whitmore • Richard P. "Rick" Berman, The Law Office of Rick Berman & Eric Schweitzer • Gary W. Bethel, Littler Mendelson • James B. Betts, Betts, Rubin & McGuiness • Hal H. Bolen, II, Bolen Fransen • Miriam R. Bourdette, Bourdette & Partners • Mark A. Broughton, Hammerschmidt Broughton Law Corporation • Shelley G. Bryant, Bryant Whitten • Timothy John Buchanan, McCormick Barstow • James D. Burnside III, Dowling Aaron Incorporated • Christopher L. Campbell, Baker Manock & Jensen • Stephen E. Carroll, McCormick Barstow • Lowell T. Carruth, McCormick Barstow • Jerry D. Casheros, McCormick Barstow • Stuart R. Chandler, Stuart Chandler Law Firm • William H. Coleman, Coleman & Horowitt • Richard C. Conway, Kahn, Soares & Conway • Stephen R. Cornwell, Cornwell & Sample • Mark L. Creede, Lang, Richert & Patch • Thornton L. Davidson, ERISA Law Group • Nickolas J. Dibiaso, Dowling Aaron Incorporated • W.F. "Rick" Docker, McCormick Barstow • Robert M. Dowd, Griswold, LaSalle, Cobb, Dowd & Gin • Michael D. Dowling, Dowling Aaron Incorporated • D. Greg Durbin, McCormick Barstow • Carmen A. Eanni, Miles, Sears & Eanni • David G. Edwards, Attorney at Law • James D. Emerson, Emerson, Corey, Sorensen, Church, Libke • David L. Emerzian, McCormack Barstow • Donald R. Fischbach, Dowling Aaron Incorporated • C. Russell Georgeson, Georgeson, Belaradinelli & Noyes • David M. Gilmore, Gilmore, Wood, Vinnard & Magness • Donald H. Glasrud, Dietrich Glasrud Mallek & Aune • Douglas L. Gordon, Miles, Sears & Eanni • E. Warren Gubler, Gubler & Abbott • William C. Hahesy, Jr., Law Offices of William C. Hahesy, Jr. • Christopher S. Hall, McCormick Barstow • Jeffrey T. Hammerschmidt, Hammerschmidt Broughton Law Corporation • Katherine L. Hart, Law Office of Katherine Hart • Robert K. Hillison, Caswell Bell & Hillison • Craig A. Houghton, Baker Manock & Jensen • Darryl J. Horowitt, Coleman & Horowitt • Scott J. Ivy, Lang, Richert & Patch • Jeffrey A. Jaech, Baker Manock & Jensen • Andrew B. Jones, Wagner & Jones • Timothy Jones, Wanger Jones Helsley • Kenneth M. Klug, McCormick Barstow • Paul E. Lerandeau, Lerandeau & Lerandeau • René Lastreto II, Lang, Richert & Patch • William H. Littlewood, McCormick Barstow • Roger K. Litman, Attorney at Law • Nicholas L. Lucich, Jr., Helon & Manfredo • Charles K. Manock, Baker Manock & Jensen • Michael Marderosian, Marderosian, Runyon, Cercone & Cohen • Gregory S. Mason, McCormick Barstow • John J. "Jay" McCauley, McCauley & Associates • Steven D. McGee, Dowling Aaron Incorporated • John J. McGregor, McCormick Barstow • David R. McNamara, McCormick Barstow • William T. McLaughlin II, Lang, Richert & Patch • John G. Michael, Baker Manock & Jensen • Mark D. MIller, Sierra IP Law • David M. Moeck, Quinlan Kershaw & Fanucchi • David R. Mugridge, Attorney at Law • Eliot S. Nahigian, Coleman & Horowitt • Roger T. Nuttall, Nuttall & Coleman • Paul J. O'Rourke, Jr., Law Offices of Paul J. O'Rourke, Jr. • Warren R. Paboojian, Baradat & Paboojian • Gordon M. Park, McCormick Barstow • Robert L. Patch, II, Lang, Richert & Patch • J. David Petrie, Petrie, Dorfmeier & Morris • Matthew W. Quall, Lang, Richert & Patch • Carl. R. Refuerzo, Baker Manock & Jensen • Jeffrey M. Reid, McCormick Barstow • Hilton A. Ryder, McCormick Barstow • René Turner Sample, Cornwell & Sample • Gary W. Sawyers, Sawyers & Holland • Scott R. Shewan, Pape & Shewan • Timothy R. Sullivan, McCormick Barstow • S. Brett Sutton, Sutton Hatmaker Law Corp. • Charles T. Taylor, Lang, Richert & Patch • Timothy L. Thompson, McCormick Barstow • Patrick D. Toole, Wanger Jones Helsley • Kurt F. Vote, Wanger Jones Helsley • James P. Wagoner, McCormick Barstow • Nicholas "Butch" Wagner, Wagner & Jones • Daniel L. Wainwright, McCormick Barstow • Riley C. Walter, Walter & Wilhelm Law Group • Oliver W. Wanger, Wanger Jones Helsley • David J. Weiland, Dowling Aaron Incorporated • Andrew R. Weiss, Weiss, Martin, Salinas & Hearst • Walter W. Whelan, Whelan Law Group • William M. White, Baker Manock & Jensen • Marshall C. Whitney, McCormick Barstow • Michael L. Wilhelm, Walter & Wilhelm Law Group • James H. Wilkins, Wilkin Drolshagen & Czeshinski • Robert D. Wilkinson, Baker Manock & Jensen • Michael G. Woods, McCormick Barstow • Janet L. Wright, Wright & Jensen
Many attorneys were also named Rising Stars, individuals who are 40 or under or who have been practicing 10 years or less: • Joshua S. Alipaz, Dowling Aaron Incorporated • Laurie A. Avedisian, Lazano Smith • Paul J. Bauer, Walter & Wilhelm Law Group • Jason S. Bell, Baradat & Paboojian • Joshua Joseph Bettencourt, Kahn, Soares & Conway • Jared R. Callister, Fishman Larsen Goldring & Zeitler • Justin T. Campagne, Campagne, Campagne & Lerner • Heather Sharon Cohen, Marderosian, Runyon, Cercone & Cohen • Ryan Corrigan, Bolen Fransen • Ana de Alba, Lang, Richert & Patch • Dana Denno, McCormick Barstow • Steven S. Dias, Powell & Pool • Marcus N. DiBuduo, Sierra IP Law • Matthew R. Dildine, Dowling Aaron Incorporated • Joseph J. Doerr, McCormick Barstow • Wiley R. Driskill, Campagne, Campagne & Lerner • Gage Dungy, Liebert Cassidy Whitmore • Ryan L. Eddings, Littler Mendelson • Ashley Emerzian, Lozano Smith • Monrae Leanna English, Wild Carter & Tipton • Mara M. Erlach, McCormick Barstow • Jordan M. Freeman, Attorney at Law • Emily Fulmer, Liebert Cassidy Whitmore • Michael J. Gomez, Lang, Richert & Patch • Robin M. Hall, Griswold, LaSalle, Cobb, Dowd & Gin • Melody A. Hawkins, McCormick Barstow • Amanda G. Hebesha, Moss Tucker Chiu Hebesha & Ward • Jason A. Helsel, Fowler Helsel Vogt • Gary A. Hunt, McCormick Barstow • Mandy Jeffcoach, McCormick Barstow • Che I. Johnson, Liebert Cassidy Whitmore • Michael R. Johnson, Griswold, LaSalle, Cobb, Dowd & Gin • Summer Allegra Johnson, Wright & Johnson • Jay M. Kelly, Bolen Fransen • John P. Kinsey, Wanger Jones Helsley • Jarrod M. Kiyuna, Baker Manock & Jensen • Kevin V. Koligian, Littler Mendelson • Rema Koligian, Coleman & Horowitt • Mary Lerner, Campagne, Campagne & Lerner • Jesse Maddox, Liebert Cassidy Whitmore • Andrew Magwood, Magwood Law Firm • Philip A. Martinez, Lang, Richert & Patch • Steven A. Matlak, Dowling Aaron Incorporated • Mary M. Moshrefi, Walters & Moshrefi, Attorneys At Law • Benjamin T. Nicholson, McCormick Barstow • Christopher Noyes, Georgeson, Belardinelli & Noyes • Anil Pai, McCormick Barstow • Paul M. Parvanian, Dowling Aaron Incorporated • Mark Poochigian, Baker Manock & Jensen • Amanda S. Patterson, Fishman Larsen Goldring & Zeitler • Nathan W. Powell, Dowling Aaron Incorporated • Kenneth Price, Baker Manock Jensen • Jacqueline McDonald Pucheu, Pucheau Law • Jacob J. Rivas, Law Office of Jacob J. Rivas • Lazaro Salazar, Salazar & Cook • Richard S. Salinas, Weiss, Martin, Salinas & Hearst • G. Andrew Slater, Dowling Aaron Incorporated • Leslie A. Soley, Judith Leslie Soley • Adam B. Stirrup, Baradat & Paboojian • Travis R. Stokes, Fishman Larsen Goldring & Zeitler • Elisabeth Fulmer Tietjan, Little Mendelson • Christina C. Tillman, McCormick Barstow • Benjamin P. Tryk, Tryk Law • Christopher Matthew Urone, Weiss, Martin, Salinas & Hearst • Mark A. Vogt, Fowler, Helsel, Vogt • Christopher C. Watters, Miles, Sears & Eanni • James D. Weakley, Weakley & Arendt • Lenden F. Webb, Webb & Bordson • Brian D. Whelan, Whelan Law Group • Gary L. Winter, Gary L. Winter, Inc. • Jody L. Winter, Lloyd Winter • Brent Woodward, Attorney at Law
URL to original article: http://www.thebusinessjournal.com/news/legal/7030-valley-attorneys-named-super-lawyers
For further information on Fresno Real Estate check: http://www.londonproperties.com
Dozens of attorneys in the Central Valley were given an honor only enjoyed by 5 percent of lawyers in Northern California. Every year, Super Lawyers, a Thomson Reuters business, names the top attorneys in California in more than 70 practice areas based on peer recognition and professional achievement. A majority of the Valley's Northern California Super Lawyers for 2013 are located in Fresno, although several others work from Hanford and Visalia. The following attorneys were distinguished with the title in 2013: • Richard M. Aaron, Dowling Aaron Incorporated • K. Poncho L. Baker, Barsotti & Baker • Kenneth A. Baldwin, McCormick Barstow • Michael F. Ball, McCormick Barstow • Daniel R. Baradat, Baradat & Paboojian • Todd W. Baxter, McCormick Barstow • Hagop T. Bedoyan, Klein, DeNatale, Goldner, Cooper, Rosenlieb & Kimball • Mario L. Beltramo, Jr., McCormick Barstow • Shelline K. Bennett, Liebert Cassidy Whitmore • Richard P. "Rick" Berman, The Law Office of Rick Berman & Eric Schweitzer • Gary W. Bethel, Littler Mendelson • James B. Betts, Betts, Rubin & McGuiness • Hal H. Bolen, II, Bolen Fransen • Miriam R. Bourdette, Bourdette & Partners • Mark A. Broughton, Hammerschmidt Broughton Law Corporation • Shelley G. Bryant, Bryant Whitten • Timothy John Buchanan, McCormick Barstow • James D. Burnside III, Dowling Aaron Incorporated • Christopher L. Campbell, Baker Manock & Jensen • Stephen E. Carroll, McCormick Barstow • Lowell T. Carruth, McCormick Barstow • Jerry D. Casheros, McCormick Barstow • Stuart R. Chandler, Stuart Chandler Law Firm • William H. Coleman, Coleman & Horowitt • Richard C. Conway, Kahn, Soares & Conway • Stephen R. Cornwell, Cornwell & Sample • Mark L. Creede, Lang, Richert & Patch • Thornton L. Davidson, ERISA Law Group • Nickolas J. Dibiaso, Dowling Aaron Incorporated • W.F. "Rick" Docker, McCormick Barstow • Robert M. Dowd, Griswold, LaSalle, Cobb, Dowd & Gin • Michael D. Dowling, Dowling Aaron Incorporated • D. Greg Durbin, McCormick Barstow • Carmen A. Eanni, Miles, Sears & Eanni • David G. Edwards, Attorney at Law • James D. Emerson, Emerson, Corey, Sorensen, Church, Libke • David L. Emerzian, McCormack Barstow • Donald R. Fischbach, Dowling Aaron Incorporated • C. Russell Georgeson, Georgeson, Belaradinelli & Noyes • David M. Gilmore, Gilmore, Wood, Vinnard & Magness • Donald H. Glasrud, Dietrich Glasrud Mallek & Aune • Douglas L. Gordon, Miles, Sears & Eanni • E. Warren Gubler, Gubler & Abbott • William C. Hahesy, Jr., Law Offices of William C. Hahesy, Jr. • Christopher S. Hall, McCormick Barstow • Jeffrey T. Hammerschmidt, Hammerschmidt Broughton Law Corporation • Katherine L. Hart, Law Office of Katherine Hart • Robert K. Hillison, Caswell Bell & Hillison • Craig A. Houghton, Baker Manock & Jensen • Darryl J. Horowitt, Coleman & Horowitt • Scott J. Ivy, Lang, Richert & Patch • Jeffrey A. Jaech, Baker Manock & Jensen • Andrew B. Jones, Wagner & Jones • Timothy Jones, Wanger Jones Helsley • Kenneth M. Klug, McCormick Barstow • Paul E. Lerandeau, Lerandeau & Lerandeau • René Lastreto II, Lang, Richert & Patch • William H. Littlewood, McCormick Barstow • Roger K. Litman, Attorney at Law • Nicholas L. Lucich, Jr., Helon & Manfredo • Charles K. Manock, Baker Manock & Jensen • Michael Marderosian, Marderosian, Runyon, Cercone & Cohen • Gregory S. Mason, McCormick Barstow • John J. "Jay" McCauley, McCauley & Associates • Steven D. McGee, Dowling Aaron Incorporated • John J. McGregor, McCormick Barstow • David R. McNamara, McCormick Barstow • William T. McLaughlin II, Lang, Richert & Patch • John G. Michael, Baker Manock & Jensen • Mark D. MIller, Sierra IP Law • David M. Moeck, Quinlan Kershaw & Fanucchi • David R. Mugridge, Attorney at Law • Eliot S. Nahigian, Coleman & Horowitt • Roger T. Nuttall, Nuttall & Coleman • Paul J. O'Rourke, Jr., Law Offices of Paul J. O'Rourke, Jr. • Warren R. Paboojian, Baradat & Paboojian • Gordon M. Park, McCormick Barstow • Robert L. Patch, II, Lang, Richert & Patch • J. David Petrie, Petrie, Dorfmeier & Morris • Matthew W. Quall, Lang, Richert & Patch • Carl. R. Refuerzo, Baker Manock & Jensen • Jeffrey M. Reid, McCormick Barstow • Hilton A. Ryder, McCormick Barstow • René Turner Sample, Cornwell & Sample • Gary W. Sawyers, Sawyers & Holland • Scott R. Shewan, Pape & Shewan • Timothy R. Sullivan, McCormick Barstow • S. Brett Sutton, Sutton Hatmaker Law Corp. • Charles T. Taylor, Lang, Richert & Patch • Timothy L. Thompson, McCormick Barstow • Patrick D. Toole, Wanger Jones Helsley • Kurt F. Vote, Wanger Jones Helsley • James P. Wagoner, McCormick Barstow • Nicholas "Butch" Wagner, Wagner & Jones • Daniel L. Wainwright, McCormick Barstow • Riley C. Walter, Walter & Wilhelm Law Group • Oliver W. Wanger, Wanger Jones Helsley • David J. Weiland, Dowling Aaron Incorporated • Andrew R. Weiss, Weiss, Martin, Salinas & Hearst • Walter W. Whelan, Whelan Law Group • William M. White, Baker Manock & Jensen • Marshall C. Whitney, McCormick Barstow • Michael L. Wilhelm, Walter & Wilhelm Law Group • James H. Wilkins, Wilkin Drolshagen & Czeshinski • Robert D. Wilkinson, Baker Manock & Jensen • Michael G. Woods, McCormick Barstow • Janet L. Wright, Wright & Jensen
Many attorneys were also named Rising Stars, individuals who are 40 or under or who have been practicing 10 years or less: • Joshua S. Alipaz, Dowling Aaron Incorporated • Laurie A. Avedisian, Lazano Smith • Paul J. Bauer, Walter & Wilhelm Law Group • Jason S. Bell, Baradat & Paboojian • Joshua Joseph Bettencourt, Kahn, Soares & Conway • Jared R. Callister, Fishman Larsen Goldring & Zeitler • Justin T. Campagne, Campagne, Campagne & Lerner • Heather Sharon Cohen, Marderosian, Runyon, Cercone & Cohen • Ryan Corrigan, Bolen Fransen • Ana de Alba, Lang, Richert & Patch • Dana Denno, McCormick Barstow • Steven S. Dias, Powell & Pool • Marcus N. DiBuduo, Sierra IP Law • Matthew R. Dildine, Dowling Aaron Incorporated • Joseph J. Doerr, McCormick Barstow • Wiley R. Driskill, Campagne, Campagne & Lerner • Gage Dungy, Liebert Cassidy Whitmore • Ryan L. Eddings, Littler Mendelson • Ashley Emerzian, Lozano Smith • Monrae Leanna English, Wild Carter & Tipton • Mara M. Erlach, McCormick Barstow • Jordan M. Freeman, Attorney at Law • Emily Fulmer, Liebert Cassidy Whitmore • Michael J. Gomez, Lang, Richert & Patch • Robin M. Hall, Griswold, LaSalle, Cobb, Dowd & Gin • Melody A. Hawkins, McCormick Barstow • Amanda G. Hebesha, Moss Tucker Chiu Hebesha & Ward • Jason A. Helsel, Fowler Helsel Vogt • Gary A. Hunt, McCormick Barstow • Mandy Jeffcoach, McCormick Barstow • Che I. Johnson, Liebert Cassidy Whitmore • Michael R. Johnson, Griswold, LaSalle, Cobb, Dowd & Gin • Summer Allegra Johnson, Wright & Johnson • Jay M. Kelly, Bolen Fransen • John P. Kinsey, Wanger Jones Helsley • Jarrod M. Kiyuna, Baker Manock & Jensen • Kevin V. Koligian, Littler Mendelson • Rema Koligian, Coleman & Horowitt • Mary Lerner, Campagne, Campagne & Lerner • Jesse Maddox, Liebert Cassidy Whitmore • Andrew Magwood, Magwood Law Firm • Philip A. Martinez, Lang, Richert & Patch • Steven A. Matlak, Dowling Aaron Incorporated • Mary M. Moshrefi, Walters & Moshrefi, Attorneys At Law • Benjamin T. Nicholson, McCormick Barstow • Christopher Noyes, Georgeson, Belardinelli & Noyes • Anil Pai, McCormick Barstow • Paul M. Parvanian, Dowling Aaron Incorporated • Mark Poochigian, Baker Manock & Jensen • Amanda S. Patterson, Fishman Larsen Goldring & Zeitler • Nathan W. Powell, Dowling Aaron Incorporated • Kenneth Price, Baker Manock Jensen • Jacqueline McDonald Pucheu, Pucheau Law • Jacob J. Rivas, Law Office of Jacob J. Rivas • Lazaro Salazar, Salazar & Cook • Richard S. Salinas, Weiss, Martin, Salinas & Hearst • G. Andrew Slater, Dowling Aaron Incorporated • Leslie A. Soley, Judith Leslie Soley • Adam B. Stirrup, Baradat & Paboojian • Travis R. Stokes, Fishman Larsen Goldring & Zeitler • Elisabeth Fulmer Tietjan, Little Mendelson • Christina C. Tillman, McCormick Barstow • Benjamin P. Tryk, Tryk Law • Christopher Matthew Urone, Weiss, Martin, Salinas & Hearst • Mark A. Vogt, Fowler, Helsel, Vogt • Christopher C. Watters, Miles, Sears & Eanni • James D. Weakley, Weakley & Arendt • Lenden F. Webb, Webb & Bordson • Brian D. Whelan, Whelan Law Group • Gary L. Winter, Gary L. Winter, Inc. • Jody L. Winter, Lloyd Winter • Brent Woodward, Attorney at Law
URL to original article: http://www.thebusinessjournal.com/news/legal/7030-valley-attorneys-named-super-lawyers
For further information on Fresno Real Estate check: http://www.londonproperties.com
Thursday, July 25, 2013
D.R. Horton beats third-quarter estimates
Source: Housingwire
By Megan Hopkins
Homebuilder D.R. Horton, Inc. ($19.34 -1.86%) posted a third-quarter profit of $146 million, or 42 cents a share, beating analyst estimates of earnings in the 34 cents-a-share range. This compares to a profit of $787.8 million, or $2.22 a share, in the third quarter of fiscal 2012. The big year-over-year difference is attributed to a one-time, non-cash tax benefit of $716.7 million from a reduction of the company’s valuation allowance for a deferred tax asset in the third quarter of 2012. In this year's third-quarter, the company fared well without the tax benefit. Homebuilding revenue in 3Q rose 47% to $1.6 billion from $1.1 billion in the same quarter of 2012. The firm's 3Q income also was buoyed by a 15% rise in the average sales price and more demand from move-up buyers. D.R. Horton’s net sales orders for the third quarter rose 12% to 6,822 units, up from 6,079 homes in the year-ago quarter. The value of net sales order jumped 30% to $1.8 billion from $1.4 billion. The pre-tax income for D.R. Horton also spiked 184% to $205.1 million, compared to $72.2 million in the same quarter last year. "Our homebuilding and financial services operations delivered strong results again this quarter, with a 580 basis point improvement in our pre-tax income margin to 12.1% and a 184% increase in our pre-tax income to $205.1 million," said Donald Horton, chairman of the D.R. Horton board. "Homes sold, closed and in backlog all increased double-digit percentages, while the dollar values all increased 30% or more." Horton added, "Our strengthening operating metrics combined with our backlog of 9,911 homes at June 30, 2013 position us for a strong finish to our fiscal year."
URL to original article: http://www.housingwire.com/news/2013/07/25/dr-horton-beats-third-quarter-estimates
For further information on Fresno Real Estate check: http://www.londonproperties.com
By Megan Hopkins
Homebuilder D.R. Horton, Inc. ($19.34 -1.86%) posted a third-quarter profit of $146 million, or 42 cents a share, beating analyst estimates of earnings in the 34 cents-a-share range. This compares to a profit of $787.8 million, or $2.22 a share, in the third quarter of fiscal 2012. The big year-over-year difference is attributed to a one-time, non-cash tax benefit of $716.7 million from a reduction of the company’s valuation allowance for a deferred tax asset in the third quarter of 2012. In this year's third-quarter, the company fared well without the tax benefit. Homebuilding revenue in 3Q rose 47% to $1.6 billion from $1.1 billion in the same quarter of 2012. The firm's 3Q income also was buoyed by a 15% rise in the average sales price and more demand from move-up buyers. D.R. Horton’s net sales orders for the third quarter rose 12% to 6,822 units, up from 6,079 homes in the year-ago quarter. The value of net sales order jumped 30% to $1.8 billion from $1.4 billion. The pre-tax income for D.R. Horton also spiked 184% to $205.1 million, compared to $72.2 million in the same quarter last year. "Our homebuilding and financial services operations delivered strong results again this quarter, with a 580 basis point improvement in our pre-tax income margin to 12.1% and a 184% increase in our pre-tax income to $205.1 million," said Donald Horton, chairman of the D.R. Horton board. "Homes sold, closed and in backlog all increased double-digit percentages, while the dollar values all increased 30% or more." Horton added, "Our strengthening operating metrics combined with our backlog of 9,911 homes at June 30, 2013 position us for a strong finish to our fiscal year."
URL to original article: http://www.housingwire.com/news/2013/07/25/dr-horton-beats-third-quarter-estimates
For further information on Fresno Real Estate check: http://www.londonproperties.com
Wednesday, July 24, 2013
Grapes, milk push Tulare County crop value to record
Source: The Business Journal
A surge in grape revenue and continued high milk production helped push Tulare County gross crop value to a record $6.2 billion for 2012. Gross value of dairy products remained strong, despite the loss of numerous dairies hurt by high feed costs and lack of profitability. The 2012 total crop value is 10 percent above the county’s 2011 value of $5.6 billion. Marilyn Kinoshita, Tulare County agricultural commissioner and sealer, pointed out in a just released 2012 crop report that milk continues to be the leading agricultural commodity in the county with a gross value of $1.8 billion. It represented 29 percent of the total crop and livestock value for 2012, despite decreasing 12 percent from 2011. The 12 percent decrease resulted primarily from the price of milk dropping from $18.40 per hundredweight in 2011 to $16 per hundredweight in 2012. Kinoshita noted that total milk production in Tulare County remained relatively stable. Officials in the Agricultural Commissioner’s office are hopeful that the Tulare dairy business will bounce back in terms of economic health. “We are encouraged,” said Tom Tucker, assistant agricultural commissioner. He said his office is also encouraged by improving values for most crops and a strong export market. Agricultural exports, dominated by grapes and oranges, also helped push the 2012 crop value to its lofty level. Oranges dominate in exports with 51.34 percent of the crop leaving the U.S. “Oranges have a good shelf life, making them good for export,” Tucker said. Fruit and nuts grew to $2.8 billion in gross value, an increase of 29 percent. Total gross value of the county’s grape crop surged from $529.5 million in 2011 to $863 million in 2012. It was a good year for Thompson and other grape varieties as fresh table grapes took a big jump in gross value reaching $658.8 million, compared to $319.6 million in 2011. “There was good demand both in the U.S. and for export,” Tucker said. Wine grapes grew from a gross value of $49.4 million in 2011 to $52.6 million in 2012. Grapes were a large factor in pushing the overall crop value to a record level, Kinoshita said. Another big gainer was almonds with a gross value of $179.9 million in 2012, compared to $128.4 million in 2011. Pistachios also took a big jump in gross value from $144.7 million in 2011 to $193.9 million in 2012. Although peach production was down, gross value of freestone peaches grew from $86.3 million in 2011 to $131.7 million in 2012. Gross value of plums and pluots increased from $86.8 million in 2011 to $106.6 million in 2012. Nectarines dropped in gross value from $127.6 million in 2011 to $118.8 million in 2012. Navel orange value grew from $483.3 million in 2011 to $525.5 million in 2012. In the category of livestock, cattle and calves value grew slightly from $547.4 million in 2011 to $577.1 million in 2012. That is despite the number of head dropping from 644,000 in 2011 to 595,000 last year. The top 10 highest valued crops for 2012 were milk, grapes, oranges, cattle and calves, corn, alfalfa, pistachios, walnuts and peaches in that order.
URL to original article: http://thebusinessjournal.com/news/agriculture/7010-grapes-milk-push-tulare-county-crop-value-to-record
For further information on Fresno Real Estate check: http://www.londonproperties.com
A surge in grape revenue and continued high milk production helped push Tulare County gross crop value to a record $6.2 billion for 2012. Gross value of dairy products remained strong, despite the loss of numerous dairies hurt by high feed costs and lack of profitability. The 2012 total crop value is 10 percent above the county’s 2011 value of $5.6 billion. Marilyn Kinoshita, Tulare County agricultural commissioner and sealer, pointed out in a just released 2012 crop report that milk continues to be the leading agricultural commodity in the county with a gross value of $1.8 billion. It represented 29 percent of the total crop and livestock value for 2012, despite decreasing 12 percent from 2011. The 12 percent decrease resulted primarily from the price of milk dropping from $18.40 per hundredweight in 2011 to $16 per hundredweight in 2012. Kinoshita noted that total milk production in Tulare County remained relatively stable. Officials in the Agricultural Commissioner’s office are hopeful that the Tulare dairy business will bounce back in terms of economic health. “We are encouraged,” said Tom Tucker, assistant agricultural commissioner. He said his office is also encouraged by improving values for most crops and a strong export market. Agricultural exports, dominated by grapes and oranges, also helped push the 2012 crop value to its lofty level. Oranges dominate in exports with 51.34 percent of the crop leaving the U.S. “Oranges have a good shelf life, making them good for export,” Tucker said. Fruit and nuts grew to $2.8 billion in gross value, an increase of 29 percent. Total gross value of the county’s grape crop surged from $529.5 million in 2011 to $863 million in 2012. It was a good year for Thompson and other grape varieties as fresh table grapes took a big jump in gross value reaching $658.8 million, compared to $319.6 million in 2011. “There was good demand both in the U.S. and for export,” Tucker said. Wine grapes grew from a gross value of $49.4 million in 2011 to $52.6 million in 2012. Grapes were a large factor in pushing the overall crop value to a record level, Kinoshita said. Another big gainer was almonds with a gross value of $179.9 million in 2012, compared to $128.4 million in 2011. Pistachios also took a big jump in gross value from $144.7 million in 2011 to $193.9 million in 2012. Although peach production was down, gross value of freestone peaches grew from $86.3 million in 2011 to $131.7 million in 2012. Gross value of plums and pluots increased from $86.8 million in 2011 to $106.6 million in 2012. Nectarines dropped in gross value from $127.6 million in 2011 to $118.8 million in 2012. Navel orange value grew from $483.3 million in 2011 to $525.5 million in 2012. In the category of livestock, cattle and calves value grew slightly from $547.4 million in 2011 to $577.1 million in 2012. That is despite the number of head dropping from 644,000 in 2011 to 595,000 last year. The top 10 highest valued crops for 2012 were milk, grapes, oranges, cattle and calves, corn, alfalfa, pistachios, walnuts and peaches in that order.
URL to original article: http://thebusinessjournal.com/news/agriculture/7010-grapes-milk-push-tulare-county-crop-value-to-record
For further information on Fresno Real Estate check: http://www.londonproperties.com
Tuesday, July 23, 2013
2013 has best spring homebuying season in almost 10 years
Source: Housingwire
As the weather warmed up this spring, so did the national housing market, shaking off a relatively sluggish start to the year to register the highest annual rate of home value appreciation in any second quarter since 2004. The U.S. Zillow Home Value Index rose to $161,100 as of the end of the second quarter, up 5.8 percent year-over-year and 2.4 percent from the first quarter, the largest annual gain since August 2006 and largest gain in any quarter since the fourth quarter of 2005. National home values rose just 0.25 percent during the first quarter. Additionally, not only did the pace of home value appreciation quicken in the second quarter, but the recovery also fully took hold nationwide. Markets in some areas of the Northeast, Midwest and Southeastern U.S. that had previously been slow to turn the corner began to appreciate, which helped boost the overall national market. All of the top 30 largest metro areas covered by Zillow experienced annual appreciation as of the end of the second quarter, and all have hit their bottom. Metros with the largest annual gains in the second quarter included Sacramento (29.5 percent), Las Vegas (29.4 percent) and San Francisco (25.5 percent). Home values are expected to rise another 5 percent over the next 12 months, according to the Zillow Home Value Forecast. Of the 30 largest metro areas, 29 are expected to show home value appreciation in the next year. Metros expected to see the highest appreciation rates through June 2014 include Sacramento (18.9 percent), Riverside, CA (16.6 percent) and Phoenix (11 percent). Only the New York metro is expected to show home value depreciation over the next 12 months (-0.8 percent). One possible explanation for expected depreciation (however slight) in the New York metro area is because New York is a judicial foreclosure state, with all foreclosures requiring judicial review before completion, which can lengthen the foreclosure process. Because foreclosures take longer to work through the system, they continue to drag home value appreciation rates down, according to Zillow economists. This could also help explain why large metro areas in other judicial foreclosure states, including Pennsylvania, Ohio and Illinois, are expected to show only modest appreciation over the next year. As home values continue to rise along with mortgage interest rates, and different kinds of buyers and sellers enter and exit the market, the landscape is expected to change. “The U.S. housing market as a whole is currently not experiencing a bubble, but in many places it sure must feel like one, with some markets experiencing annual home value appreciation approaching 30 percent. Homeowners are feeling a sense of whiplash after years of depreciation, but this kind of market behavior won’t last,” said Zillow Senior Economist Svenja Gudell. “Investors are starting to pull out of some markets and regular buyers are coming back, and more inventory is slowly but surely coming on line, both of which will contribute to slowdowns in appreciation. Additionally, in some overheated markets, rapid home value increases coupled with rising mortgage rates will lead to housing prices and financing costs outpacing local income growth, which will also contribute to a moderation of the market. Combined, all of these factors will help the market in the second half of 2013 and beyond normalize and become much more steady than it has been in these past six months.” In the rental market, national rents fell in the second quarter compared with the first quarter by 0.5 percent, to a Zillow Rent Index of $1,282, the first quarterly decline after nine consecutive quarters either increasing or remaining flat. Year-over-year, national rents rose 1.6 percent as of the end of the second quarter. This is a significant annual decline in the rental appreciation rate, which at its peak stood at 6.2 percent nationally in September 2012. This development combined with rising home values is another contributor to investors exiting some markets, as they had often bought for-sale inventory to convert into for-rent properties. Foreclosure rates also fell in the second quarter compared with the first quarter. A total of 4.96 out of every 10,000 homes nationwide were foreclosed upon in the second quarter, down 0.7 homes per 10,000 from the first quarter and down 1.6 homes per 10,000 year-over-year.
URL to original article: http://www.housingwire.com/fastnews/2013/07/23/2013-has-best-spring-homebuying-season-almost-10-years
For further information on Fresno Real Estate check: http://www.londonproperties.com
As the weather warmed up this spring, so did the national housing market, shaking off a relatively sluggish start to the year to register the highest annual rate of home value appreciation in any second quarter since 2004. The U.S. Zillow Home Value Index rose to $161,100 as of the end of the second quarter, up 5.8 percent year-over-year and 2.4 percent from the first quarter, the largest annual gain since August 2006 and largest gain in any quarter since the fourth quarter of 2005. National home values rose just 0.25 percent during the first quarter. Additionally, not only did the pace of home value appreciation quicken in the second quarter, but the recovery also fully took hold nationwide. Markets in some areas of the Northeast, Midwest and Southeastern U.S. that had previously been slow to turn the corner began to appreciate, which helped boost the overall national market. All of the top 30 largest metro areas covered by Zillow experienced annual appreciation as of the end of the second quarter, and all have hit their bottom. Metros with the largest annual gains in the second quarter included Sacramento (29.5 percent), Las Vegas (29.4 percent) and San Francisco (25.5 percent). Home values are expected to rise another 5 percent over the next 12 months, according to the Zillow Home Value Forecast. Of the 30 largest metro areas, 29 are expected to show home value appreciation in the next year. Metros expected to see the highest appreciation rates through June 2014 include Sacramento (18.9 percent), Riverside, CA (16.6 percent) and Phoenix (11 percent). Only the New York metro is expected to show home value depreciation over the next 12 months (-0.8 percent). One possible explanation for expected depreciation (however slight) in the New York metro area is because New York is a judicial foreclosure state, with all foreclosures requiring judicial review before completion, which can lengthen the foreclosure process. Because foreclosures take longer to work through the system, they continue to drag home value appreciation rates down, according to Zillow economists. This could also help explain why large metro areas in other judicial foreclosure states, including Pennsylvania, Ohio and Illinois, are expected to show only modest appreciation over the next year. As home values continue to rise along with mortgage interest rates, and different kinds of buyers and sellers enter and exit the market, the landscape is expected to change. “The U.S. housing market as a whole is currently not experiencing a bubble, but in many places it sure must feel like one, with some markets experiencing annual home value appreciation approaching 30 percent. Homeowners are feeling a sense of whiplash after years of depreciation, but this kind of market behavior won’t last,” said Zillow Senior Economist Svenja Gudell. “Investors are starting to pull out of some markets and regular buyers are coming back, and more inventory is slowly but surely coming on line, both of which will contribute to slowdowns in appreciation. Additionally, in some overheated markets, rapid home value increases coupled with rising mortgage rates will lead to housing prices and financing costs outpacing local income growth, which will also contribute to a moderation of the market. Combined, all of these factors will help the market in the second half of 2013 and beyond normalize and become much more steady than it has been in these past six months.” In the rental market, national rents fell in the second quarter compared with the first quarter by 0.5 percent, to a Zillow Rent Index of $1,282, the first quarterly decline after nine consecutive quarters either increasing or remaining flat. Year-over-year, national rents rose 1.6 percent as of the end of the second quarter. This is a significant annual decline in the rental appreciation rate, which at its peak stood at 6.2 percent nationally in September 2012. This development combined with rising home values is another contributor to investors exiting some markets, as they had often bought for-sale inventory to convert into for-rent properties. Foreclosure rates also fell in the second quarter compared with the first quarter. A total of 4.96 out of every 10,000 homes nationwide were foreclosed upon in the second quarter, down 0.7 homes per 10,000 from the first quarter and down 1.6 homes per 10,000 year-over-year.
URL to original article: http://www.housingwire.com/fastnews/2013/07/23/2013-has-best-spring-homebuying-season-almost-10-years
For further information on Fresno Real Estate check: http://www.londonproperties.com
Monday, July 22, 2013
Fresno Airport Continues Upward Trend
Source: Business Street
FRESNO – Passenger volume at Fresno Yosemite International Airport continues to increase at a record-breaking pace, positioning the Airport to outperform prior record years. This upward trend is the result of strong bookings occurring on each of the ten major airline operators based at Fresno Yosemite. Passenger levels have shown significant increases in the first half of 2013 with June ranked as the second highest passenger count ever: • January report 105,565 passengers (an 11 percent increase over January 2012) • February report 91,956 passengers (a 9 percent increase over February 2012) • March report 112,355 passengers (an 11.19 percent increase over March 2012) • April report 111,130 passengers (a 7.15 percent increase over April 2012) • May report 123,831 passengers (an 11.19 percent increase over May 2012) • June report 130,181 passengers (a 5.52 percent increase over June 2012) Impressive passenger bookings averaged a 91 percent load factor in the month of June. Airline bookings for this year remain healthy with the average year-to-date load factor at nearly 80 percent. Factors contributing to the higher passenger numbers include new air service introduced last summer with Allegiant Air adding non-stop flights to Honolulu, Hawaii as well as Alaska Airlines’ launch of twice daily non-stop service to San Diego, California. Other factors include this year’s addition of low-cost carrier Frontier Airlines with non-stop service to Denver, Colorado as well as seasonal flight frequencies from existing domestic air carriers and solid bookings on the international carriers to Guadalajara, Mexico. The upward trend of strong bookings validates reasonable and competitive airfares through Fresno Yosemite. Many airlines are currently offering special airfare promotions and packaged vacation deals. Coupled with advance booking, passengers are continuing to benefit from a variety of travel options stimulated by competitive airfares.
URL to original article: http://businessstreetonline.com/fresno-airport-continues-upward-trend/
For further information on Fresno Real Estate check: http://www.londonproperties.com
FRESNO – Passenger volume at Fresno Yosemite International Airport continues to increase at a record-breaking pace, positioning the Airport to outperform prior record years. This upward trend is the result of strong bookings occurring on each of the ten major airline operators based at Fresno Yosemite. Passenger levels have shown significant increases in the first half of 2013 with June ranked as the second highest passenger count ever: • January report 105,565 passengers (an 11 percent increase over January 2012) • February report 91,956 passengers (a 9 percent increase over February 2012) • March report 112,355 passengers (an 11.19 percent increase over March 2012) • April report 111,130 passengers (a 7.15 percent increase over April 2012) • May report 123,831 passengers (an 11.19 percent increase over May 2012) • June report 130,181 passengers (a 5.52 percent increase over June 2012) Impressive passenger bookings averaged a 91 percent load factor in the month of June. Airline bookings for this year remain healthy with the average year-to-date load factor at nearly 80 percent. Factors contributing to the higher passenger numbers include new air service introduced last summer with Allegiant Air adding non-stop flights to Honolulu, Hawaii as well as Alaska Airlines’ launch of twice daily non-stop service to San Diego, California. Other factors include this year’s addition of low-cost carrier Frontier Airlines with non-stop service to Denver, Colorado as well as seasonal flight frequencies from existing domestic air carriers and solid bookings on the international carriers to Guadalajara, Mexico. The upward trend of strong bookings validates reasonable and competitive airfares through Fresno Yosemite. Many airlines are currently offering special airfare promotions and packaged vacation deals. Coupled with advance booking, passengers are continuing to benefit from a variety of travel options stimulated by competitive airfares.
URL to original article: http://businessstreetonline.com/fresno-airport-continues-upward-trend/
For further information on Fresno Real Estate check: http://www.londonproperties.com
Thursday, July 18, 2013
Fresno council approves BUILD Act for infill
Source: The Business Journal
The Fresno City Council on Thursday approved a building code change recommended by Clinton Olivier, Fresno’s District 7 city councilmember, to encourage builders to construct homes on empty lots throughout the city. Known as the BUILD Act, the legislation exempts infill builders from development impact fees including police facilities, park facilities, fire facilities and major streets and traffic fees. BUILD is an acronym for Best Utilization of Infill Land Development. Under the plan, the city will consider the fees paid at the time the original home was built as adequate for building a new home on the empty lot. Plan-check, water connection and wastewater fees still apply. It applies to single-family homes, duplexes, triplexes and fourplexes that once stood, but no longer exist because of fire loss or teardown on property where infrastructure is already in place. Only replacement projects that do not intensify the use of the lot are eligible. For an example, a house could be built on a lot where a house once stood. Putting a duplex on a lot where a single-family home once stood would not be eligible. Building on vacant lots would be made equitable to tearing down and rebuilding existing structures, Olivier said. City staff estimates that five to 10 lots would be filled annually. City documents state that the fiscal impact of the BUILD Act is negligible to facilities accounts. Also, an increase in property tax revenue is expected once projects are completed and families return to redeveloped neighborhoods. “The BUILD Act makes it easier for our blighted areas to be filled-in with new development,” Olivier said recently. “The fees that would be affected are those fees that have already been paid. It’s more fair and it fast-tracks much needed infill development.” Olivier pointed out in a release that vacant lots are magnets for illegal dumping, weeds and crime. Speaking recently to the Government Affairs Council of the Greater Fresno Area Chamber of Commerce, he explained that as the law currently stands, a developer wanting to build on a vacant city lot could pay as much as $50,000 in impact fees including police, park, fire and street fees. At the same time, the city provides incentives for builders to tear down houses and rebuild at reduced fee rates in infill areas, Olivier said. “We are encouraging people to go into neighborhoods and tear down houses,” he said. Fresno currently has 2,184 vacant lots. Not all lots are eligible for the Build Act. “The BUILD Act is creative, innovative public policy,” Olivier said.
URL to original article: http://www.thebusinessjournal.com/news/construction/6927-fresno-council-approves-build-act-for-infill
For further information on Fresno Real Estate check: http://www.londonproperties.com
The Fresno City Council on Thursday approved a building code change recommended by Clinton Olivier, Fresno’s District 7 city councilmember, to encourage builders to construct homes on empty lots throughout the city. Known as the BUILD Act, the legislation exempts infill builders from development impact fees including police facilities, park facilities, fire facilities and major streets and traffic fees. BUILD is an acronym for Best Utilization of Infill Land Development. Under the plan, the city will consider the fees paid at the time the original home was built as adequate for building a new home on the empty lot. Plan-check, water connection and wastewater fees still apply. It applies to single-family homes, duplexes, triplexes and fourplexes that once stood, but no longer exist because of fire loss or teardown on property where infrastructure is already in place. Only replacement projects that do not intensify the use of the lot are eligible. For an example, a house could be built on a lot where a house once stood. Putting a duplex on a lot where a single-family home once stood would not be eligible. Building on vacant lots would be made equitable to tearing down and rebuilding existing structures, Olivier said. City staff estimates that five to 10 lots would be filled annually. City documents state that the fiscal impact of the BUILD Act is negligible to facilities accounts. Also, an increase in property tax revenue is expected once projects are completed and families return to redeveloped neighborhoods. “The BUILD Act makes it easier for our blighted areas to be filled-in with new development,” Olivier said recently. “The fees that would be affected are those fees that have already been paid. It’s more fair and it fast-tracks much needed infill development.” Olivier pointed out in a release that vacant lots are magnets for illegal dumping, weeds and crime. Speaking recently to the Government Affairs Council of the Greater Fresno Area Chamber of Commerce, he explained that as the law currently stands, a developer wanting to build on a vacant city lot could pay as much as $50,000 in impact fees including police, park, fire and street fees. At the same time, the city provides incentives for builders to tear down houses and rebuild at reduced fee rates in infill areas, Olivier said. “We are encouraging people to go into neighborhoods and tear down houses,” he said. Fresno currently has 2,184 vacant lots. Not all lots are eligible for the Build Act. “The BUILD Act is creative, innovative public policy,” Olivier said.
URL to original article: http://www.thebusinessjournal.com/news/construction/6927-fresno-council-approves-build-act-for-infill
For further information on Fresno Real Estate check: http://www.londonproperties.com
Shaver Lake survival show premiering July 31
Source: The Business Journal
In a nod to the popular reality television series Survivor, Shaver Lake will be the setting to another survivalist show premiering on the CW network July 31. "Capture," showing at 9 p.m., features 12 teams of two who are challenged to survive for one month in a fenced-in wildlife enclosure, competing against one another for scarce resources. The winner of that battle takes $250,000. The show is hosted by Luke Tipple, an Australian marine biologist who has hosted shows on Discovery, Nat Geo and Animal Planet. Triple Ridge Productions filmed all ten episodes of the series during April and June entirely in the Shaver Lake area in east Fresno County. A cast and crew of 150 was used to build the set and bring the production to life thanks to help from the Fresno County Film Commission and Southern California Edison, the utility that owns the land around Shaver Lake. The Fresno County Film Commission estimates the economic impact from direct spending from the project totals $1.5 million, while at least a dozen used to help with the show were hired locally.
URL to original article: http://www.thebusinessjournal.com/news/media-and-marketing/6931-shaver-lake-survival-show-premiering-july-31
For further information on Fresno Real Estate check: http://www.londonproperties.com
In a nod to the popular reality television series Survivor, Shaver Lake will be the setting to another survivalist show premiering on the CW network July 31. "Capture," showing at 9 p.m., features 12 teams of two who are challenged to survive for one month in a fenced-in wildlife enclosure, competing against one another for scarce resources. The winner of that battle takes $250,000. The show is hosted by Luke Tipple, an Australian marine biologist who has hosted shows on Discovery, Nat Geo and Animal Planet. Triple Ridge Productions filmed all ten episodes of the series during April and June entirely in the Shaver Lake area in east Fresno County. A cast and crew of 150 was used to build the set and bring the production to life thanks to help from the Fresno County Film Commission and Southern California Edison, the utility that owns the land around Shaver Lake. The Fresno County Film Commission estimates the economic impact from direct spending from the project totals $1.5 million, while at least a dozen used to help with the show were hired locally.
URL to original article: http://www.thebusinessjournal.com/news/media-and-marketing/6931-shaver-lake-survival-show-premiering-july-31
For further information on Fresno Real Estate check: http://www.londonproperties.com
Mortgage rates reverse course, slide back down again
Source: Housingwire
By Christina Mlynski
Mortgage rates cooled off this week, showing mortgage rates easing along as the market remains uncertain about how long the Federal Reserve’s aggressive bond-buying program will ultimately last. This week rates inched down, with the 30-year, fixed-rate mortgage coming in at 4.37%, down from 4.51% last week, but up from 3.53% last year, Freddie Mac reported in its Primary Market Survey. The 15-year, FRM decreased to 3.41%, down from 3.53% and a steep rebound from 2.83% last year. Meanwhile, the 5-year Treasury-index adjustable-rate mortgage averaged 3.17%, down from 3.26% last week and an increased from 2.69% a year earlier. Additionally, the 1-year Treasury-index ARM was 2.66%, unchanged from a week earlier, but down from 2.69% a year ago. "Fixed mortgage rates fell as Federal Reserve (Fed) Chairman Bernanke helped ease market concerns about the Fed reducing its bond purchases. During a question and answer session following a speech on July 10th, Chairman Bernanke indicated that a highly accommodative monetary policy is what’s needed in the U.S. economy," said Frank Nothaft, vice president and chief economist for Freddie Mac. He added, "Indications of a slowing in the economic recovery also placed downward pressure on mortgage rates. Consumer sentiment fell to a three-month low in July while retail sales in June grew by only 0.4%, which was half of the market consensus forecast. In addition, housing starts fell in June to the slowest pace since August 2012." Bankrate data also show mortgage rates dropping. Bankrate’s 30-year FRM dropped to 4.56% from 4.66% a week earlier. In addition, the 15-year, FRM decreased to 3.65%, down from 3.75%. The 5/1 ARM also declined to 3.56% from 3.63%.
URL to original article: http://www.housingwire.com/news/2013/07/18/mortgage-rates-reverse-course-slide-back-down-again
For further information on Fresno Real Estate check: http://www.londonproperties.com
By Christina Mlynski
Mortgage rates cooled off this week, showing mortgage rates easing along as the market remains uncertain about how long the Federal Reserve’s aggressive bond-buying program will ultimately last. This week rates inched down, with the 30-year, fixed-rate mortgage coming in at 4.37%, down from 4.51% last week, but up from 3.53% last year, Freddie Mac reported in its Primary Market Survey. The 15-year, FRM decreased to 3.41%, down from 3.53% and a steep rebound from 2.83% last year. Meanwhile, the 5-year Treasury-index adjustable-rate mortgage averaged 3.17%, down from 3.26% last week and an increased from 2.69% a year earlier. Additionally, the 1-year Treasury-index ARM was 2.66%, unchanged from a week earlier, but down from 2.69% a year ago. "Fixed mortgage rates fell as Federal Reserve (Fed) Chairman Bernanke helped ease market concerns about the Fed reducing its bond purchases. During a question and answer session following a speech on July 10th, Chairman Bernanke indicated that a highly accommodative monetary policy is what’s needed in the U.S. economy," said Frank Nothaft, vice president and chief economist for Freddie Mac. He added, "Indications of a slowing in the economic recovery also placed downward pressure on mortgage rates. Consumer sentiment fell to a three-month low in July while retail sales in June grew by only 0.4%, which was half of the market consensus forecast. In addition, housing starts fell in June to the slowest pace since August 2012." Bankrate data also show mortgage rates dropping. Bankrate’s 30-year FRM dropped to 4.56% from 4.66% a week earlier. In addition, the 15-year, FRM decreased to 3.65%, down from 3.75%. The 5/1 ARM also declined to 3.56% from 3.63%.
URL to original article: http://www.housingwire.com/news/2013/07/18/mortgage-rates-reverse-course-slide-back-down-again
For further information on Fresno Real Estate check: http://www.londonproperties.com
Wednesday, July 17, 2013
Valley solar boosted by state incentive program
Source: The Business Journal
California's solar incentive program has reached two-thirds of its target energy goals, thanks in part to hundreds of rooftop installations in the San Joaquin Valley. According to a recent report by the California Public Utilities Commission, rebates from the California Solar Initiative since 2007 have backed the installation of 167,878 rooftop solar systems for a total of 1,629 megawatts of energy generating capacity. That's around 84 percent of the program's target goal of installing 1,940 megawatts by the end of 2016. Last year alone, CSI helped with the installation of 391 megawatts of rooftop solar capacity, while another 19 percent of the program's total could be added with projects currently pending. Of installed systems through the Central Valley, Fresno County claimed just over 4,900 systems from the program for an energy generating capacity of 59.27 megawatts. In Tulare County, CSI has spurred around 1,820 installations for a total capacity of 28.27 megawatts. Kings County has seen about 550 installations go up thanks to the program for a combined capacity of 12.16 megawatts. In Madera County, CSI has helped finance just over 700 installations for a total of 10.21 megawatts. Among Valley cities, Fresno topped them all with 2,566 rooftop systems totaling around 27.69 megawatts followed by Clovis with 1,507 installations totaling 10.2 megawatts. Other top Valley cities include: • Visalia with 723 installations totaling 8 megawatts • Madera with 445 installations for 6.92 megawatts • Hanford with 316 installations for 8.32 megawatts • Tulare with 271 installations for 3.64 megawatts • Porterville with 261 installations for 5.22 megawatts • Kingsburg with 123 installations for 4.48 megawatts • Lemoore with 189 installations for 3.33 megawatts • Sanger with 171 installations for 1.54 megawatts • Reedley with 91 installations for 1.56 megawatts • Exeter with 130 installations for 1.26 megawatts
URL to original article: http://www.thebusinessjournal.com/news/energy-and-environment/6868-valley-solar-boosted-state-incentive-program
For further information on Fresno Real Estate check: http://www.londonproperties.com
California's solar incentive program has reached two-thirds of its target energy goals, thanks in part to hundreds of rooftop installations in the San Joaquin Valley. According to a recent report by the California Public Utilities Commission, rebates from the California Solar Initiative since 2007 have backed the installation of 167,878 rooftop solar systems for a total of 1,629 megawatts of energy generating capacity. That's around 84 percent of the program's target goal of installing 1,940 megawatts by the end of 2016. Last year alone, CSI helped with the installation of 391 megawatts of rooftop solar capacity, while another 19 percent of the program's total could be added with projects currently pending. Of installed systems through the Central Valley, Fresno County claimed just over 4,900 systems from the program for an energy generating capacity of 59.27 megawatts. In Tulare County, CSI has spurred around 1,820 installations for a total capacity of 28.27 megawatts. Kings County has seen about 550 installations go up thanks to the program for a combined capacity of 12.16 megawatts. In Madera County, CSI has helped finance just over 700 installations for a total of 10.21 megawatts. Among Valley cities, Fresno topped them all with 2,566 rooftop systems totaling around 27.69 megawatts followed by Clovis with 1,507 installations totaling 10.2 megawatts. Other top Valley cities include: • Visalia with 723 installations totaling 8 megawatts • Madera with 445 installations for 6.92 megawatts • Hanford with 316 installations for 8.32 megawatts • Tulare with 271 installations for 3.64 megawatts • Porterville with 261 installations for 5.22 megawatts • Kingsburg with 123 installations for 4.48 megawatts • Lemoore with 189 installations for 3.33 megawatts • Sanger with 171 installations for 1.54 megawatts • Reedley with 91 installations for 1.56 megawatts • Exeter with 130 installations for 1.26 megawatts
URL to original article: http://www.thebusinessjournal.com/news/energy-and-environment/6868-valley-solar-boosted-state-incentive-program
For further information on Fresno Real Estate check: http://www.londonproperties.com
Foreclosure activity spikes in Fresno County
Source: The Business Journal
Foreclosures shot up in Fresno County in June, painting a completely different picture compared to the rest of the Central Valley. According to new data by RealtyTrac, the number of foreclosure filings in Fresno County was 75 percent higher than May but 52 percent lower than the same time last year. In Tulare County, foreclosure filings were down 42 percent in June compared to the previous month and 71 percent lower than June 2012. Madera County saw foreclosure filings fall 37 percent compared to May and 73 percent compared to a year ago. Kings County's foreclosure filings were up just 1 percent from May and 55 percent down from June of last year. Statewide, foreclosure filings dropped 12 percent in June from the prior month and 68 percent from the same time last year. Across the nation, foreclosure filings were down 14 percent from May and 35 percent from a year ago. There are currently 1,33 million properties in the U.S. that are in some state of foreclosure, ranging from notice of default, up for auction or reverted back to the bank.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/6869-foreclosure-activity-spikes-in-fresno-county
For further information on Fresno Real Estate check: http://www.londonproperties.com
Foreclosures shot up in Fresno County in June, painting a completely different picture compared to the rest of the Central Valley. According to new data by RealtyTrac, the number of foreclosure filings in Fresno County was 75 percent higher than May but 52 percent lower than the same time last year. In Tulare County, foreclosure filings were down 42 percent in June compared to the previous month and 71 percent lower than June 2012. Madera County saw foreclosure filings fall 37 percent compared to May and 73 percent compared to a year ago. Kings County's foreclosure filings were up just 1 percent from May and 55 percent down from June of last year. Statewide, foreclosure filings dropped 12 percent in June from the prior month and 68 percent from the same time last year. Across the nation, foreclosure filings were down 14 percent from May and 35 percent from a year ago. There are currently 1,33 million properties in the U.S. that are in some state of foreclosure, ranging from notice of default, up for auction or reverted back to the bank.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/6869-foreclosure-activity-spikes-in-fresno-county
For further information on Fresno Real Estate check: http://www.londonproperties.com
Lead paint legal battle begins in Calif.
Source: The Business Journal
Written by Associated Press
(AP) — California's attorney general and 10 cities and counties are suing the paint industry, seeking to get them to pay $1 billion to remove hazardous lead paint from old homes in the state. The San Jose Mercury News reports (http://bit.ly/15fT82t ) that the trial starting Monday in Santa Clara County Superior Court will decide if industry is responsible for the use of lead-based paint throughout the state decades ago. The industry argues that lead paint, which has been banned in California for decades, was never sold deliberately to consumers and is no longer a significant risk to public health. Lead paint remains in California homes built before 1978. Exposure to lead is linked to learning disabilities and other health problems, especially in children. Judge James Kleinberg will decide the case.
URL to original article: http://www.thebusinessjournal.com/news/state/6883-lead-paint-legal-battle-begins-in-calif
For further information on Fresno Real Estate check: http://www.londonproperties.com
Written by Associated Press
(AP) — California's attorney general and 10 cities and counties are suing the paint industry, seeking to get them to pay $1 billion to remove hazardous lead paint from old homes in the state. The San Jose Mercury News reports (http://bit.ly/15fT82t ) that the trial starting Monday in Santa Clara County Superior Court will decide if industry is responsible for the use of lead-based paint throughout the state decades ago. The industry argues that lead paint, which has been banned in California for decades, was never sold deliberately to consumers and is no longer a significant risk to public health. Lead paint remains in California homes built before 1978. Exposure to lead is linked to learning disabilities and other health problems, especially in children. Judge James Kleinberg will decide the case.
URL to original article: http://www.thebusinessjournal.com/news/state/6883-lead-paint-legal-battle-begins-in-calif
For further information on Fresno Real Estate check: http://www.londonproperties.com
Tuesday, July 16, 2013
California home sales decline as median home price rises
Source: Housingwire
June home sales in California inched back down despite rising home prices, with most regions posting healthy double-digit annual gains and the statewide median price remaining above the $400,000 mark for the third consecutive month, according to the California Association of Realtors. "Despite a small increase in inventory, the supply of housing remains tight in most parts of the state and continues to fuel home price increases," said CAR President Don Faught. He added, "The surge in home prices in the past year has given homeowners with previous underwater properties an opportunity to become trade-up buyers. However, many are finding this difficult because they either lack sufficient cash for a down payment or they are concerned that if they sell, they will have no place to go, given limited inventory. Others may be waiting on the sidelines for values to gain even more before selling, which further contributes to tight inventory." In California, closed escrow sales of existing, single-family detached homes totaled a seasonally adjusted annualized rate of 414,950 units in June. Sales dropped 3.8% from a revised 431,490 in May and fell 3.7% from a revised 430,960 in June 2012. The median price of an existing, single-family California detached home increased 2.7% from May’s revised median price of $417,350 to $428,510 in June. From June 2012, last month’s price was up 33.5% from a revised $320,990. This represents the sixteenth straight month of annual price increases and a full year of double-digit annual gains. "The June decline in home sales was attributed partially to the hike in interest rates in recent months. The average 30-year fixed rate had been stabilizing at around 3.5% since the beginning of the year, until it jumped more than 50 basis points in June to reach above the 4% mark for the first time in more than a year and a half," said CAR Vice President and Chief Economist Leslie Appleton-Young. She added, "This rate increase portends a somewhat higher rate environment going forward as the Fed mulls over the start of its tapering off program in response to positive signs from the economy."
URL to original article: http://www.housingwire.com/fastnews/2013/07/16/california-home-sales-decline-median-home-price-rises
For further information on Fresno Real Estate check: http://www.londonproperties.com
June home sales in California inched back down despite rising home prices, with most regions posting healthy double-digit annual gains and the statewide median price remaining above the $400,000 mark for the third consecutive month, according to the California Association of Realtors. "Despite a small increase in inventory, the supply of housing remains tight in most parts of the state and continues to fuel home price increases," said CAR President Don Faught. He added, "The surge in home prices in the past year has given homeowners with previous underwater properties an opportunity to become trade-up buyers. However, many are finding this difficult because they either lack sufficient cash for a down payment or they are concerned that if they sell, they will have no place to go, given limited inventory. Others may be waiting on the sidelines for values to gain even more before selling, which further contributes to tight inventory." In California, closed escrow sales of existing, single-family detached homes totaled a seasonally adjusted annualized rate of 414,950 units in June. Sales dropped 3.8% from a revised 431,490 in May and fell 3.7% from a revised 430,960 in June 2012. The median price of an existing, single-family California detached home increased 2.7% from May’s revised median price of $417,350 to $428,510 in June. From June 2012, last month’s price was up 33.5% from a revised $320,990. This represents the sixteenth straight month of annual price increases and a full year of double-digit annual gains. "The June decline in home sales was attributed partially to the hike in interest rates in recent months. The average 30-year fixed rate had been stabilizing at around 3.5% since the beginning of the year, until it jumped more than 50 basis points in June to reach above the 4% mark for the first time in more than a year and a half," said CAR Vice President and Chief Economist Leslie Appleton-Young. She added, "This rate increase portends a somewhat higher rate environment going forward as the Fed mulls over the start of its tapering off program in response to positive signs from the economy."
URL to original article: http://www.housingwire.com/fastnews/2013/07/16/california-home-sales-decline-median-home-price-rises
For further information on Fresno Real Estate check: http://www.londonproperties.com
Thursday, July 11, 2013
Madera County supervisors postpone Gunner Ranch West vote
Source: The Business Journal
The Madera County Board of Supervisors has postponed until Sept. 17 a vote on environmental documents to allow for development of the huge Gunner Ranch West mixed-use project in an area that borders with the Fresno County line near northeast Fresno. The supervisors decided to postpone the vote to allow staff to further study impacts of the project, including its water use and a need for an entrance to a neighboring golf course. On water, the supervisors want a guarantee of net-zero water usage and a source for surface water to be brought in. Gunner Ranch West would allow as many as 2,840 residential units, more than 2 million square feet of commercial property, 1.1 million square feet of hospital-related services, a medical offices building, government facilities, a community center, 58 acres of open space and parks and a 62-acre wastewater treatment plant. The project site is located south of Avenue 10, west of Highway 41 and northwest of the San Joaquin River near Childrens Hospital Central California. Officials estimate the project would result in 8,236 new jobs at build-out. As part of the project, the developer would provide gifts to Children’s Hospital Central California and the Ronald McDonald House for expansion of the two facilities. Area landowner and developer Richard Gunner proposed the development, which would be done on 1,000 acres of orchard and open space. About 8,500 new residents would take root in the area under the plan. Most of the concern about such a large project is based on stresses it could place on an already limited water supply. With three other residential projects planned for the area, water demand is expected to be high. Jeffrey Reid, a Fresno land use planning attorney, speaking on behalf of Richard Gunner, said the project would take less water than was extracted by farmers on the property. He said wells would be built for the project. However, the county Planning Department calls for the developer to provide additional water in the amount of 855 acre-feet to balance supplies. It would also like the developer to provide some surface water in addition to well water. By contrast, the county Planning Commission supported the project plan as proposed. Along with water concerns, opponents of the project cite loss of farmland, reduction of air quality and increased traffic as negatives. One of the opponents is the Madera County Farm Bureau. The bureau believes that the development comes at the wrong time because it would further deplete water supplies at a time of drought. To address the concerns, the Madera County Board of Supervisors held a public hearing on certification of a final Environmental Impact Report and approval of other documents including a water supply assessment. The county pointed out that the project includes improvements to water supply storage, treatment and distribution systems serving the Gunner Ranch West area. A wastewater treatment plant would be built.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/6817-madera-county-supervisors-postpone-gunner-ranch-west-vote
For further information on Fresno Real Estate check: http://www.londonproperties.com
The Madera County Board of Supervisors has postponed until Sept. 17 a vote on environmental documents to allow for development of the huge Gunner Ranch West mixed-use project in an area that borders with the Fresno County line near northeast Fresno. The supervisors decided to postpone the vote to allow staff to further study impacts of the project, including its water use and a need for an entrance to a neighboring golf course. On water, the supervisors want a guarantee of net-zero water usage and a source for surface water to be brought in. Gunner Ranch West would allow as many as 2,840 residential units, more than 2 million square feet of commercial property, 1.1 million square feet of hospital-related services, a medical offices building, government facilities, a community center, 58 acres of open space and parks and a 62-acre wastewater treatment plant. The project site is located south of Avenue 10, west of Highway 41 and northwest of the San Joaquin River near Childrens Hospital Central California. Officials estimate the project would result in 8,236 new jobs at build-out. As part of the project, the developer would provide gifts to Children’s Hospital Central California and the Ronald McDonald House for expansion of the two facilities. Area landowner and developer Richard Gunner proposed the development, which would be done on 1,000 acres of orchard and open space. About 8,500 new residents would take root in the area under the plan. Most of the concern about such a large project is based on stresses it could place on an already limited water supply. With three other residential projects planned for the area, water demand is expected to be high. Jeffrey Reid, a Fresno land use planning attorney, speaking on behalf of Richard Gunner, said the project would take less water than was extracted by farmers on the property. He said wells would be built for the project. However, the county Planning Department calls for the developer to provide additional water in the amount of 855 acre-feet to balance supplies. It would also like the developer to provide some surface water in addition to well water. By contrast, the county Planning Commission supported the project plan as proposed. Along with water concerns, opponents of the project cite loss of farmland, reduction of air quality and increased traffic as negatives. One of the opponents is the Madera County Farm Bureau. The bureau believes that the development comes at the wrong time because it would further deplete water supplies at a time of drought. To address the concerns, the Madera County Board of Supervisors held a public hearing on certification of a final Environmental Impact Report and approval of other documents including a water supply assessment. The county pointed out that the project includes improvements to water supply storage, treatment and distribution systems serving the Gunner Ranch West area. A wastewater treatment plant would be built.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/6817-madera-county-supervisors-postpone-gunner-ranch-west-vote
For further information on Fresno Real Estate check: http://www.londonproperties.com
Monday, July 8, 2013
Housing Choice Voucher Program waiting list to open
Source: The Business Journal
The housing authorities of the City of Fresno and Fresno County will soon be accepting pre-applications online for the Housing Choice Voucher Programs—a program that provides low income families with rental assistance for decent, safe and sanitary housing. The waiting list will open on July 23 at 10 a.m. with no charge to submit an application. Applicants will be able to apply for either the city or county programs. Families will be placed on a preliminary list and pulled to establish a waiting list. When funding is available, pre-applications will be randomly selected using a lottery system. Each household may only apply once for the lottery. Pre-applications will not be pulled in date and time order when establishing a waiting list. Eligible applicants must be income eligible and pass a criminal background check at the time they are pulled from the waiting list. Pre-applications must be submitted online at fresnohousing.org. For the online application, click on Quality Housing, Housing Choice Vouchers and HCV Online Applications, which is under the HCV tab. Applicants will receive a confirmation number when applying online. If an applicant has a disability and requires a reasonable accommodation or has extenuating circumstances that prevent them from applying online, paper applications are also available. No duplicate applications will be accepted. The Program is federally funded by the U.S. Department of Housing and Urban Development. For more information, contact the Fresno Housing Authority at (559) 443-8400.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/6796-housing-choice-voucher-program-waiting-list-to-open
For further information on Fresno Real Estate check: http://www.londonproperties.com
The housing authorities of the City of Fresno and Fresno County will soon be accepting pre-applications online for the Housing Choice Voucher Programs—a program that provides low income families with rental assistance for decent, safe and sanitary housing. The waiting list will open on July 23 at 10 a.m. with no charge to submit an application. Applicants will be able to apply for either the city or county programs. Families will be placed on a preliminary list and pulled to establish a waiting list. When funding is available, pre-applications will be randomly selected using a lottery system. Each household may only apply once for the lottery. Pre-applications will not be pulled in date and time order when establishing a waiting list. Eligible applicants must be income eligible and pass a criminal background check at the time they are pulled from the waiting list. Pre-applications must be submitted online at fresnohousing.org. For the online application, click on Quality Housing, Housing Choice Vouchers and HCV Online Applications, which is under the HCV tab. Applicants will receive a confirmation number when applying online. If an applicant has a disability and requires a reasonable accommodation or has extenuating circumstances that prevent them from applying online, paper applications are also available. No duplicate applications will be accepted. The Program is federally funded by the U.S. Department of Housing and Urban Development. For more information, contact the Fresno Housing Authority at (559) 443-8400.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/6796-housing-choice-voucher-program-waiting-list-to-open
For further information on Fresno Real Estate check: http://www.londonproperties.com
Survey: Valley economy growing in June, but should slow
Source: The Business Journal
The San Joaquin Valley Business Conditions Index increased to 55.5 in June, after declining the previous two months, according to the monthly release on Monday from Fresno State’s Craig School of Business. Although May’s index of 54.6 was down from the previous month, it was still higher than 50—indicating growth. Approximately one-third of the survey participants reported the low interest rates were the primary factor in the growth. However Ernie Goss, the research associate heading the study, indicated the recent increase in rates will limit expansion. “While rates have risen over the past month, I expect interest rates to stabilize at their current levels supporting positive but somewhat slower growth for the months ahead,” Goss said. The employment index for June rose to 58.4 from 55.7 in May. However trade dropped to 49.9 in June from 59.9 in May and inventories increased to a weak 46.8 in June but up slightly from 46.3 in May. The wholesale price index fell to 58.8 in June from 62 in May.
URL to original article: http://www.thebusinessjournal.com/news/economy/6802-survey-valley-economy-growing-in-june-but-should-slow
For further information on Fresno Real Estate check: http://www.londonproperties.com
The San Joaquin Valley Business Conditions Index increased to 55.5 in June, after declining the previous two months, according to the monthly release on Monday from Fresno State’s Craig School of Business. Although May’s index of 54.6 was down from the previous month, it was still higher than 50—indicating growth. Approximately one-third of the survey participants reported the low interest rates were the primary factor in the growth. However Ernie Goss, the research associate heading the study, indicated the recent increase in rates will limit expansion. “While rates have risen over the past month, I expect interest rates to stabilize at their current levels supporting positive but somewhat slower growth for the months ahead,” Goss said. The employment index for June rose to 58.4 from 55.7 in May. However trade dropped to 49.9 in June from 59.9 in May and inventories increased to a weak 46.8 in June but up slightly from 46.3 in May. The wholesale price index fell to 58.8 in June from 62 in May.
URL to original article: http://www.thebusinessjournal.com/news/economy/6802-survey-valley-economy-growing-in-june-but-should-slow
For further information on Fresno Real Estate check: http://www.londonproperties.com
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