Source: The Business Journal
Clovis was ranked highest in a list of 20 California cities where young families might like to settle down.
The list, compiled by consumer information website NerdWallet, took into account the quality of schools, home values, household income and family-friendly activities when determining its ratings.
Clovis topped all other cities with an overall score of 66.76, ahead of the next top contenders Folsom (58.47) and Yuba (57.45).
With around 101,000 people living there, Clovis was deemed a good fit for families due in large part to its 285 acres of parks and trails and its schools, rated at 8 out of 10 by GreatSchools and achieving an overall graduation rate of 92.6 percent in 2011-2012.
The city's median home value of $284,500 was also considered feasible for families, as was the average monthly owner costs of $2,001.
Income growth over the last decade was 54.4 percent, signaling a good chance at prosperity. The city's current median household income rests at $65,300.
NerdWallet also cited a wealth of family-friendly activities offered in Clovis, including Big Hat Days in April that brings about 140,000 people to downtown Clovis for art, food and music, as well as the nation's 15th largest rodeo held the same month.
The city, which bills itself as the "gateway to the Sierras," also features Friday night farmer's markets in downtown during the summer and the Christmas lights of Cindy Lane at Peach and Alluvial avenues during the winter.
Other cities that made the list include Irvine (No. 5), Roseville (No. 8), Fullerton (No. 14), Redding (No. 18) and Upland (No. 20).
URL to original article: http://www.thebusinessjournal.com/news/economy/10559-clovis-deemed-best-for-families
For further information on Fresno Real Estate check: http://www.londonproperties.com
Thursday, January 30, 2014
Granville starts Home of Hope
Source: The Business Journal
Granville Homes, in conjunction with eight local non-profits and local dignitaries, broke ground today on its ninth annual Granville Home of Hope. “The Granville Home of Hope is a symbol of the basic needs of the underserved segments of our community,” said Darius Assemi, Granville Homes’ president, in a release. “We applaud the work of the eight outstanding nonprofits who provide food, shelter, health care, education and therefore hope to the underserved in our community.” Assemi said that with Fresno County‘s poverty level at almost 25 percent, there is a great sense of urgency to fill the monetary gaps the organizations have. Since 2006, the Granville Home of Hope foundation has raised more than $2.7 million dollars for eight Central Valley nonprofits by raffling off a home. The 2014 Home of Hope beneficiaries, including Community Food Bank, Poverello House, Hinds Hospice, Assistance League, Renaissance Scholars at Fresno State and the foundations for Clovis, Sanger, and Central Schools, work together to provide food, shelter, education and healthcare for those in need. "Through the generosity of Granville Homes and its partners who join in the Home of Hope program, the Community Food Bank has been able to acquire enough food to provide almost 7 million meals to hungry families throughout our valley,” said Community Food Bank President and CEO, Andy Souza. This year Granville will raffle off a 1,301 square-foot Cottage one-floor plan home located in the Copper River Ranch community. The home, which is in the Clovis Unified School District, features three bedrooms, two bathrooms, granite countertops, a full alarm system, wood plank tile floors and Granville Eco-Smart technology. Unlike past years, this year there will be a cap on the number of tickets sold. There will be a total of 5,000 — $100 tickets – available for purchase and the grand-prize winner will have the option to choose the home or $100,000 cash.
URL to original article: http://www.thebusinessjournal.com/news/non-profits/10546-granville-starts-home-of-hope
For further information on Fresno Real Estate check: http://www.londonproperties.com
Granville Homes, in conjunction with eight local non-profits and local dignitaries, broke ground today on its ninth annual Granville Home of Hope. “The Granville Home of Hope is a symbol of the basic needs of the underserved segments of our community,” said Darius Assemi, Granville Homes’ president, in a release. “We applaud the work of the eight outstanding nonprofits who provide food, shelter, health care, education and therefore hope to the underserved in our community.” Assemi said that with Fresno County‘s poverty level at almost 25 percent, there is a great sense of urgency to fill the monetary gaps the organizations have. Since 2006, the Granville Home of Hope foundation has raised more than $2.7 million dollars for eight Central Valley nonprofits by raffling off a home. The 2014 Home of Hope beneficiaries, including Community Food Bank, Poverello House, Hinds Hospice, Assistance League, Renaissance Scholars at Fresno State and the foundations for Clovis, Sanger, and Central Schools, work together to provide food, shelter, education and healthcare for those in need. "Through the generosity of Granville Homes and its partners who join in the Home of Hope program, the Community Food Bank has been able to acquire enough food to provide almost 7 million meals to hungry families throughout our valley,” said Community Food Bank President and CEO, Andy Souza. This year Granville will raffle off a 1,301 square-foot Cottage one-floor plan home located in the Copper River Ranch community. The home, which is in the Clovis Unified School District, features three bedrooms, two bathrooms, granite countertops, a full alarm system, wood plank tile floors and Granville Eco-Smart technology. Unlike past years, this year there will be a cap on the number of tickets sold. There will be a total of 5,000 — $100 tickets – available for purchase and the grand-prize winner will have the option to choose the home or $100,000 cash.
URL to original article: http://www.thebusinessjournal.com/news/non-profits/10546-granville-starts-home-of-hope
For further information on Fresno Real Estate check: http://www.londonproperties.com
Thursday, January 23, 2014
Housing looks sunny with scattered clouds
Source: Housingwire
By: Brena Swanson
Zillow predicts home values to rise 4.8% nationwide
Although 2014 brings more forecasts of improvement for the housing market, this sunny forecast is not guaranteed to reach all top housing markets. Homes values are estimated to rise another 4.8% through December 2014, but local market trends are expected to differ, which may cause confusion and uncertainty among homebuyers and sellers, the latest Zillow report found. "Affordability issues will help put the brakes on many markets that saw huge appreciation rates, like California and the Southwest, creating volatility that could potentially cause whiplash for homebuyers and sellers," said Zillow Chief Economist Stan Humphries. "The same time, we expect more homes to be available this year as more sellers enter the market and more homes get built, and a decline in investor competition should make for a more hospitable market for many buyers." All but one of the nation’s 35 largest metro areas are expected to show annual rates of appreciation, but the results vary widely by region. Riverside, Calif., is projected to grow 16.1%, compared to Kansas City, which will grow to just 0.4%. St. Louis is the only top city estimated to record a drop, with prices expected to fall 3.1%. “The housing recovery is entering the middle innings after an incredible run in 2013. Below the surface of last year’s market, a number of unsettling trends started to emerge as a result of rapid and ultimately unsustainable appreciation, setting up a bit of a mixed bag for 2014,” Humphries said. In 2013, home values ended the fourth quarter up 6.4% year-over-year, a robust bounce off the bottom that is beginning to trail off in most areas and could cause problems in a handful. The U.S. Zillow Home Value Index stood at $169,100 at the end of the fourth quarter, up 1.4% from the end of the third quarter, and 0.6% from November. "The housing recovery is entering the middle innings after an incredible run in 2013. Below the surface of last year’s market, a number of unsettling trends started to emerge as a result of rapid and ultimately unsustainable appreciation, setting up a bit of a mixed bag for 2014,” Humphries added. "While a truly ‘normal’ market remains a ways off, we expect to take more steps in that direction as appreciation moderates, negative equity recedes, federal stimulus is withdrawn and foreclosures wane.”
URL to original article: http://www.housingwire.com/blogs/1-rewired/post/28691-housing-looks-sunny-with-scattered-clouds
For further information on Fresno Real Estate check: http://www.londonproperties.com
By: Brena Swanson
Zillow predicts home values to rise 4.8% nationwide
Although 2014 brings more forecasts of improvement for the housing market, this sunny forecast is not guaranteed to reach all top housing markets. Homes values are estimated to rise another 4.8% through December 2014, but local market trends are expected to differ, which may cause confusion and uncertainty among homebuyers and sellers, the latest Zillow report found. "Affordability issues will help put the brakes on many markets that saw huge appreciation rates, like California and the Southwest, creating volatility that could potentially cause whiplash for homebuyers and sellers," said Zillow Chief Economist Stan Humphries. "The same time, we expect more homes to be available this year as more sellers enter the market and more homes get built, and a decline in investor competition should make for a more hospitable market for many buyers." All but one of the nation’s 35 largest metro areas are expected to show annual rates of appreciation, but the results vary widely by region. Riverside, Calif., is projected to grow 16.1%, compared to Kansas City, which will grow to just 0.4%. St. Louis is the only top city estimated to record a drop, with prices expected to fall 3.1%. “The housing recovery is entering the middle innings after an incredible run in 2013. Below the surface of last year’s market, a number of unsettling trends started to emerge as a result of rapid and ultimately unsustainable appreciation, setting up a bit of a mixed bag for 2014,” Humphries said. In 2013, home values ended the fourth quarter up 6.4% year-over-year, a robust bounce off the bottom that is beginning to trail off in most areas and could cause problems in a handful. The U.S. Zillow Home Value Index stood at $169,100 at the end of the fourth quarter, up 1.4% from the end of the third quarter, and 0.6% from November. "The housing recovery is entering the middle innings after an incredible run in 2013. Below the surface of last year’s market, a number of unsettling trends started to emerge as a result of rapid and ultimately unsustainable appreciation, setting up a bit of a mixed bag for 2014,” Humphries added. "While a truly ‘normal’ market remains a ways off, we expect to take more steps in that direction as appreciation moderates, negative equity recedes, federal stimulus is withdrawn and foreclosures wane.”
URL to original article: http://www.housingwire.com/blogs/1-rewired/post/28691-housing-looks-sunny-with-scattered-clouds
For further information on Fresno Real Estate check: http://www.londonproperties.com
Wednesday, January 22, 2014
California home foreclosures plummet to 8-year low
Source: The Business Journal
Written by Associated Press
(AP) — A real estate research firm says California home foreclosures plummeted to an eight-year low in the fourth quarter, thanks to rising home prices. DataQuick said Tuesday that there were 18,120 default notices filed on houses and condominiums from October through December. That's down 11 percent from the previous three-month period and down 53 percent from the same period of 2012. It is the lowest number of default notices filed since the fourth quarter of 2005. The median price for a California home was $364,000 in the fourth quarter, up 22 percent from a year earlier. It is the fifth straight quarter that the median has risen at least 20 percent from the previous year. The price gains have left fewer homeowners owing more money than their properties are worth.
URL to original article: http://thebusinessjournal.com/news/state/10437-california-home-foreclosures-plummet-to-8-year-low
For further information on Fresno Real Estate check: http://www.londonproperties.com
Written by Associated Press
(AP) — A real estate research firm says California home foreclosures plummeted to an eight-year low in the fourth quarter, thanks to rising home prices. DataQuick said Tuesday that there were 18,120 default notices filed on houses and condominiums from October through December. That's down 11 percent from the previous three-month period and down 53 percent from the same period of 2012. It is the lowest number of default notices filed since the fourth quarter of 2005. The median price for a California home was $364,000 in the fourth quarter, up 22 percent from a year earlier. It is the fifth straight quarter that the median has risen at least 20 percent from the previous year. The price gains have left fewer homeowners owing more money than their properties are worth.
URL to original article: http://thebusinessjournal.com/news/state/10437-california-home-foreclosures-plummet-to-8-year-low
For further information on Fresno Real Estate check: http://www.londonproperties.com
Tuesday, January 21, 2014
Fresno hits top 10 in home list price jump
Source: The Business Journal
Realtor.com, an online real estate site operated by Move, Inc., released its National Housing Trend Report for December 2013, showing that Fresno came in 10th on the nation’s top 10 of metropolitan statistical areas for the greatest year-over-year price increase for homes. Median list price in Fresno increased by 23.8 percent year-over-year in December. Ken Neufeld, an agent with London Properties in Fresno, said he is not surprised at all by Fresno making the top 10 of median list price increases. “The rebound has been phenomenal,” Neufeld said. He said about 30 percent of last year’s home sales were cash sales. The added competition of cash buyers further served to drive prices upward, Neufeld added. The cash sales are not subject to appraisals, which can slow the sales process, he said. The jump in Fresno home prices has already had the effect of slowing winter sales and helping build back inventory, which had been severely short. Neufeld said he believes Fresno is now in a more stable market. While monthly December figures indicate a shift into winter's slow season, prices and housing demand for the full 2013 year closed in stronger positions compared to 2012. Data from realtor.com shows the national median list price for December 2013 is 8.1 percent above the levels observed in December 2012. On a month-over-month basis, December 2013 showed the first significant signs of the usual seasonal winter slow down. "Bidding wars and all-cash offers left many home buyers empty handed after the summer home buying season,” said Errol Samuelson, president of Realtor.com in a release. “In fact, many buyers remained in the market throughout the fall in an effort to get ahead of the competition, extending the summer season and making housing indicators resilient to usual seasonal patterns.” Samuelson said the market is still showing significant demand, but in order to have a strong home buying season, sellers need to put their homes on the market. While December data is strong, other factors could impact consumers when it comes to 2014 housing. The National Association of Realtors’ Confidence Index results recently highlighted concern about the effect of the Qualified Mortgage rules that came into effect in January 2014, which may further decrease credit availability. Another fear was the impact on consumer finances of the implementation of the Affordable Care Act this month. Top 10 metropolitan statistical areas with the greatest year-over-year list price increases for December:
Stockton-Lodi 47.3 percent
Detroit, Mich. 41.1 percent
Santa Barbara-Santa Maria-Lompoc 29.6 percent
Las Vegas, Nev. 29.3 percent
Reno, Nev. 28.7 percent
Los Angeles-Long Beach 28.5 percent
Riverside-San Bernardino 26.7 percent
Orange County, Calif. 26.1 percent
Oakland 24.9 percent
Fresno 23.8 percent
URL to original article: http://thebusinessjournal.com/news/real-estate/10435-fresno-hits-top-10-in-home-list-price-jump
For further information on Fresno Real Estate check: http://www.londonproperties.com
Realtor.com, an online real estate site operated by Move, Inc., released its National Housing Trend Report for December 2013, showing that Fresno came in 10th on the nation’s top 10 of metropolitan statistical areas for the greatest year-over-year price increase for homes. Median list price in Fresno increased by 23.8 percent year-over-year in December. Ken Neufeld, an agent with London Properties in Fresno, said he is not surprised at all by Fresno making the top 10 of median list price increases. “The rebound has been phenomenal,” Neufeld said. He said about 30 percent of last year’s home sales were cash sales. The added competition of cash buyers further served to drive prices upward, Neufeld added. The cash sales are not subject to appraisals, which can slow the sales process, he said. The jump in Fresno home prices has already had the effect of slowing winter sales and helping build back inventory, which had been severely short. Neufeld said he believes Fresno is now in a more stable market. While monthly December figures indicate a shift into winter's slow season, prices and housing demand for the full 2013 year closed in stronger positions compared to 2012. Data from realtor.com shows the national median list price for December 2013 is 8.1 percent above the levels observed in December 2012. On a month-over-month basis, December 2013 showed the first significant signs of the usual seasonal winter slow down. "Bidding wars and all-cash offers left many home buyers empty handed after the summer home buying season,” said Errol Samuelson, president of Realtor.com in a release. “In fact, many buyers remained in the market throughout the fall in an effort to get ahead of the competition, extending the summer season and making housing indicators resilient to usual seasonal patterns.” Samuelson said the market is still showing significant demand, but in order to have a strong home buying season, sellers need to put their homes on the market. While December data is strong, other factors could impact consumers when it comes to 2014 housing. The National Association of Realtors’ Confidence Index results recently highlighted concern about the effect of the Qualified Mortgage rules that came into effect in January 2014, which may further decrease credit availability. Another fear was the impact on consumer finances of the implementation of the Affordable Care Act this month. Top 10 metropolitan statistical areas with the greatest year-over-year list price increases for December:
Stockton-Lodi 47.3 percent
Detroit, Mich. 41.1 percent
Santa Barbara-Santa Maria-Lompoc 29.6 percent
Las Vegas, Nev. 29.3 percent
Reno, Nev. 28.7 percent
Los Angeles-Long Beach 28.5 percent
Riverside-San Bernardino 26.7 percent
Orange County, Calif. 26.1 percent
Oakland 24.9 percent
Fresno 23.8 percent
URL to original article: http://thebusinessjournal.com/news/real-estate/10435-fresno-hits-top-10-in-home-list-price-jump
For further information on Fresno Real Estate check: http://www.londonproperties.com
Fresno Co. a bright spot in December home sales
Source: The Business Journal
Sales climbed nearly 15 percent in Fresno County in December but that wasn't the case for much of the San Joaquin Valley or the rest of the state. According to a new report from the California Association of Realtors, home sales picked up 14.3 percent in Fresno County during the month despite a drop of 4.8 percent from the year before. For one thing, homes got a little more affordable. At $190,350, the county's median home price was down 1.4 percent from $193,020 in November. That's still up 20.8 percent from $157,620 in December 2012. Sales in Tulare County, on the other hand, saw a 9.5-percent drop in December from the month before and a 30.3-percent decline year-over-year. The county's median home price fell slightly to $160,910 but rose 10.4 percent from $145,760 in December 2012. Madera County saw no change in sales during the month although numbers slipped 35.5 percent from the year before. At $160,000, the county's median home price was the name as November's but picked up 10.9 percent from $144,290 in December 2012. In Kings County, sales fell 15.6 percent in December and 33.3 percent year-over-year. The county's median home price also took a dive of 10.1 percent in the month, going from $171,670 to $154,280, which is still 5.7 percent ahead of $144,000 in December 2012. While sales picked up in Fresno County during the month, the available supply of homes was on the decline. Fresno County's unsold inventory index, or number of months to deplete the supply of homes at the current sales rate, dropped from 5.1 months in November to 4 months in December, still up from 3.8 months the year before. Madera County's index also dropped from 5.2 months in November to 4.6 months in December, still far ahead of the 2-month supply the year before. Tulare county's index picked up a little bit in December, going from 4 months to 4.3 months compared to 2.8 months in December 2012. The index in Kings County also climbed to 4.6 months compared to 3.9 months in November and 2.9 months in December 2012. Statewide, home sales totaled around 361,890 units in December, down 6.7 percent from 387,860 in November and 18.6 percent from 444,7770 in December 2012. California's median home price stood at $438,040 in December, up 3.7 percent from $422,210 in November and 19.7 percent from $365,840 in December 2012. "While month-to-month price gain was higher than normal, home prices have been stabilizing in the second half of 2013, which is positive news for buyers who have been putting their home search on hold until prices leveled of," said C.A.R. Vice President Leslie Appleton-Young. "California's housing market experienced strong price growth throughout the year, with the median price surging 27.5 percent for the year as a whole from $319,300 in 2012 to $407,180 in 2013. But again, the increase in the media price can be partly attributed to the increase in sales of higher-priced properties, where tight inventory was less of a factory."
URL to original article: http://www.thebusinessjournal.com/news/real-estate/10405-fresno-co-a-bright-spot-in-december-home-sales
For further information on Fresno Real Estate check: http://www.londonproperties.com
Sales climbed nearly 15 percent in Fresno County in December but that wasn't the case for much of the San Joaquin Valley or the rest of the state. According to a new report from the California Association of Realtors, home sales picked up 14.3 percent in Fresno County during the month despite a drop of 4.8 percent from the year before. For one thing, homes got a little more affordable. At $190,350, the county's median home price was down 1.4 percent from $193,020 in November. That's still up 20.8 percent from $157,620 in December 2012. Sales in Tulare County, on the other hand, saw a 9.5-percent drop in December from the month before and a 30.3-percent decline year-over-year. The county's median home price fell slightly to $160,910 but rose 10.4 percent from $145,760 in December 2012. Madera County saw no change in sales during the month although numbers slipped 35.5 percent from the year before. At $160,000, the county's median home price was the name as November's but picked up 10.9 percent from $144,290 in December 2012. In Kings County, sales fell 15.6 percent in December and 33.3 percent year-over-year. The county's median home price also took a dive of 10.1 percent in the month, going from $171,670 to $154,280, which is still 5.7 percent ahead of $144,000 in December 2012. While sales picked up in Fresno County during the month, the available supply of homes was on the decline. Fresno County's unsold inventory index, or number of months to deplete the supply of homes at the current sales rate, dropped from 5.1 months in November to 4 months in December, still up from 3.8 months the year before. Madera County's index also dropped from 5.2 months in November to 4.6 months in December, still far ahead of the 2-month supply the year before. Tulare county's index picked up a little bit in December, going from 4 months to 4.3 months compared to 2.8 months in December 2012. The index in Kings County also climbed to 4.6 months compared to 3.9 months in November and 2.9 months in December 2012. Statewide, home sales totaled around 361,890 units in December, down 6.7 percent from 387,860 in November and 18.6 percent from 444,7770 in December 2012. California's median home price stood at $438,040 in December, up 3.7 percent from $422,210 in November and 19.7 percent from $365,840 in December 2012. "While month-to-month price gain was higher than normal, home prices have been stabilizing in the second half of 2013, which is positive news for buyers who have been putting their home search on hold until prices leveled of," said C.A.R. Vice President Leslie Appleton-Young. "California's housing market experienced strong price growth throughout the year, with the median price surging 27.5 percent for the year as a whole from $319,300 in 2012 to $407,180 in 2013. But again, the increase in the media price can be partly attributed to the increase in sales of higher-priced properties, where tight inventory was less of a factory."
URL to original article: http://www.thebusinessjournal.com/news/real-estate/10405-fresno-co-a-bright-spot-in-december-home-sales
For further information on Fresno Real Estate check: http://www.londonproperties.com
Monday, January 20, 2014
Local wineries score big in Chronicle competition
Source: The Business Journal
Local wineries landed double gold, gold, silver and bronze medals at the recently completed San Francisco Chronicle Wine Competition. The event attracted a record 5,825 entries from more than 25 states making it the largest competition of wines in America. Ramos Torres Winery in Kingsburg came home a big winner with nine awards including a double gold for a 2011 Branches wine and a gold for a 2011 Generations wine. Branches is a cabernet blend and Generations is an Alicante Bouschet blend. Ramos Torres received a silver award for 2011 Vino Tinto and bronze awards for 2012 Grenache Pink (a rose’), 2011 GMS, 2012 RVM (a white), 2011 zinfandel, 2012 Las Lomitas (a white) and 2012 Rou Part Two (a white). The wines are priced from $18 a bottle to $34 a bottle. Ramos Torres won seven awards last year in its first try in the San Francisco Chronicle Wine Competition. “Considering the scope of the competition and the golds we received, this was a big honor for us,” said Adriana Espinoza, marketing director for Ramos Torres Winery. Espinoza said she was pleased that the winery won awards for red, white and rose’ wines. Camelot Vineyards & Winery in Parlier received a double gold award for its California pinot noir, a silver award for chardonnay and bronze awards for pinot grigio and cabernet sauvignon. All were non-vintage and priced at $10 a bottle. Cardella Winery in Mendota had six award-winning wines: gold for a 2011 sangiovese and silvers for 2011 pinot noir, 2010 merlot, 2010 ruby cabernet, 2010 Syrah and 2012 pinot grigio. The wines are priced at $15 to $20 a bottle. Idle Hour Winery & Kitchen in Oakhurst won five awards: silver for 2010 Syrah produced in Madera and 2011 petite Syrah, and bronze for 2012 cabernet Franc, 2011 Tempranillo and a non-vintage pinot Gris grown in Madera. The wines are priced from $22 to $24 a bottle. The sweepstakes winning white wine was 2012 chardonnay by Baldacci Family Vineyards in Napa. It’s priced at $38 a bottle. Two red wines won sweepstakes awards: a 2011 zinfandel by 3 Steves Winery in Livermore priced at $31 a bottle, and 2010 Syrah by Calcareous Vineyard in Paso Robles priced at $40 a bottle.
URL to original article: http://www.thebusinessjournal.com/news/agriculture/10391-local-wineries-score-big-in-chronicle-competition
For further information on Fresno Real Estate check: http://www.londonproperties.com
Local wineries landed double gold, gold, silver and bronze medals at the recently completed San Francisco Chronicle Wine Competition. The event attracted a record 5,825 entries from more than 25 states making it the largest competition of wines in America. Ramos Torres Winery in Kingsburg came home a big winner with nine awards including a double gold for a 2011 Branches wine and a gold for a 2011 Generations wine. Branches is a cabernet blend and Generations is an Alicante Bouschet blend. Ramos Torres received a silver award for 2011 Vino Tinto and bronze awards for 2012 Grenache Pink (a rose’), 2011 GMS, 2012 RVM (a white), 2011 zinfandel, 2012 Las Lomitas (a white) and 2012 Rou Part Two (a white). The wines are priced from $18 a bottle to $34 a bottle. Ramos Torres won seven awards last year in its first try in the San Francisco Chronicle Wine Competition. “Considering the scope of the competition and the golds we received, this was a big honor for us,” said Adriana Espinoza, marketing director for Ramos Torres Winery. Espinoza said she was pleased that the winery won awards for red, white and rose’ wines. Camelot Vineyards & Winery in Parlier received a double gold award for its California pinot noir, a silver award for chardonnay and bronze awards for pinot grigio and cabernet sauvignon. All were non-vintage and priced at $10 a bottle. Cardella Winery in Mendota had six award-winning wines: gold for a 2011 sangiovese and silvers for 2011 pinot noir, 2010 merlot, 2010 ruby cabernet, 2010 Syrah and 2012 pinot grigio. The wines are priced at $15 to $20 a bottle. Idle Hour Winery & Kitchen in Oakhurst won five awards: silver for 2010 Syrah produced in Madera and 2011 petite Syrah, and bronze for 2012 cabernet Franc, 2011 Tempranillo and a non-vintage pinot Gris grown in Madera. The wines are priced from $22 to $24 a bottle. The sweepstakes winning white wine was 2012 chardonnay by Baldacci Family Vineyards in Napa. It’s priced at $38 a bottle. Two red wines won sweepstakes awards: a 2011 zinfandel by 3 Steves Winery in Livermore priced at $31 a bottle, and 2010 Syrah by Calcareous Vineyard in Paso Robles priced at $40 a bottle.
URL to original article: http://www.thebusinessjournal.com/news/agriculture/10391-local-wineries-score-big-in-chronicle-competition
For further information on Fresno Real Estate check: http://www.londonproperties.com
Wednesday, January 15, 2014
Clovis Unified to hold job fair
Source: The Business Journal
The Clovis Unified School District will hold a job fair on Jan. 24 as it looks to hire a swath of new teachers. The job fair is the first of its kind in more than 15 years for the some 40,000-student school district. Until now, Clovis Unified has only hired a few teachers each year as enrollment has waned and class sizes have increased. Around 350 interview slots will be open during the job fair, being held from 9 a.m. to 7 p.m. at Clovis Unified's main office, 1680 David E. Cook Way. Applicants for multiple subject and single subject openings are being considered, as are teachers in special education. Available interview slots can be found at www.cusd.com. Teacher candidates must pre-register online. Candidates are asked to submit an application online and bring a hard copy to the interview 15 minutes prior to their scheduled time. Other requested information includes a resume, three letters of recommendation, valid California public school credentials and a copy of unofficial transcripts, CBEST, RICA, MSAT, CSET, SSAT or PRAXIS where applicable. Clovis Unified's plans to reduce K-3 class sizes in the coming school year are related as much to enrollment growth as they are to more funding for schools in Gov. Jerry Brown's recently released 2014-15 proposed budget. As well, his Local Control Accountability Planning formula announced last year will give local school districts more control in how their money is distributed while providing extra funding to help disadvantaged students.
URL to original article: http://thebusinessjournal.com/news/education/10345-clovis-unified-to-hold-job-fair
For further information on Fresno Real Estate check: http://www.londonproperties.com
The Clovis Unified School District will hold a job fair on Jan. 24 as it looks to hire a swath of new teachers. The job fair is the first of its kind in more than 15 years for the some 40,000-student school district. Until now, Clovis Unified has only hired a few teachers each year as enrollment has waned and class sizes have increased. Around 350 interview slots will be open during the job fair, being held from 9 a.m. to 7 p.m. at Clovis Unified's main office, 1680 David E. Cook Way. Applicants for multiple subject and single subject openings are being considered, as are teachers in special education. Available interview slots can be found at www.cusd.com. Teacher candidates must pre-register online. Candidates are asked to submit an application online and bring a hard copy to the interview 15 minutes prior to their scheduled time. Other requested information includes a resume, three letters of recommendation, valid California public school credentials and a copy of unofficial transcripts, CBEST, RICA, MSAT, CSET, SSAT or PRAXIS where applicable. Clovis Unified's plans to reduce K-3 class sizes in the coming school year are related as much to enrollment growth as they are to more funding for schools in Gov. Jerry Brown's recently released 2014-15 proposed budget. As well, his Local Control Accountability Planning formula announced last year will give local school districts more control in how their money is distributed while providing extra funding to help disadvantaged students.
URL to original article: http://thebusinessjournal.com/news/education/10345-clovis-unified-to-hold-job-fair
For further information on Fresno Real Estate check: http://www.londonproperties.com
Tuesday, January 14, 2014
Credit standards going easy on jumbo mortgages
Source: Housingwire
By: Brena Swanson
Demand for non-government loans keeps growing
Despite overall originations hitting the lowest level since 2010, the past year witnessed a significant increase in the volume of home equity loans and lines of credit, in addition to originating the best-performing mortgages on record, the first report from Black Knight Financial Services, previously known as Lender Processing Services, found. For jumbo mortgages, however, it's a completely different story. Two key points about the November numbers stand out according to Herb Blecher, senior vice president of Black Knight Financial Services’ data & analytics division. “First is that heightened credit standards have resulted in this year being the best-performing vintage on record. Even adjusting for some of these changes, such as credit scores and loan-to-values, we are seeing total delinquencies for 2013 loans at extremely low levels across every product category,” Blecher said. The second point Blecher emphasized was that overall volumes are down. “We are seeing an increased proportion of the market being supported by non-agency (vs. government) lending – with the share nearly doubling as compared to 2010,” Blecher added. However, increasing home prices have helped offset some of the drop in originations with demand for home equity loans increasing. “While first mortgage originations are almost half the levels as one year ago, total home equity lending, including loans and lines, has increased by 70%, and originations of second lien home equity loans have more than doubled,” Blecher said. In addition, the market also observed a 75% year-over-year increase in the share of non-agency jumbo prime lending. “Notably, nearly all of these jumbo loans have been originated with no mortgage insurance, which may indicate an increased appetite for risk, as well as an opportunity to expand credit criteria, for originations within the private market,” Blecher explained. The November data revealed that the population of “refi” mortgages has decreased by about 4 million loans since the end of 2012. In comparison, just 5.9 million loans meet broad-based refinance criteria. But loosening the credit standards to just a 700 FICO increases the refinance population by almost 17%, or an additional 1 million loans.
URL to original article: http://www.housingwire.com/articles/28563-credit-standards-going-easy-on-jumbo-mortgages
For further information on Fresno Real Estate check: http://www.londonproperties.com
By: Brena Swanson
Demand for non-government loans keeps growing
Despite overall originations hitting the lowest level since 2010, the past year witnessed a significant increase in the volume of home equity loans and lines of credit, in addition to originating the best-performing mortgages on record, the first report from Black Knight Financial Services, previously known as Lender Processing Services, found. For jumbo mortgages, however, it's a completely different story. Two key points about the November numbers stand out according to Herb Blecher, senior vice president of Black Knight Financial Services’ data & analytics division. “First is that heightened credit standards have resulted in this year being the best-performing vintage on record. Even adjusting for some of these changes, such as credit scores and loan-to-values, we are seeing total delinquencies for 2013 loans at extremely low levels across every product category,” Blecher said. The second point Blecher emphasized was that overall volumes are down. “We are seeing an increased proportion of the market being supported by non-agency (vs. government) lending – with the share nearly doubling as compared to 2010,” Blecher added. However, increasing home prices have helped offset some of the drop in originations with demand for home equity loans increasing. “While first mortgage originations are almost half the levels as one year ago, total home equity lending, including loans and lines, has increased by 70%, and originations of second lien home equity loans have more than doubled,” Blecher said. In addition, the market also observed a 75% year-over-year increase in the share of non-agency jumbo prime lending. “Notably, nearly all of these jumbo loans have been originated with no mortgage insurance, which may indicate an increased appetite for risk, as well as an opportunity to expand credit criteria, for originations within the private market,” Blecher explained. The November data revealed that the population of “refi” mortgages has decreased by about 4 million loans since the end of 2012. In comparison, just 5.9 million loans meet broad-based refinance criteria. But loosening the credit standards to just a 700 FICO increases the refinance population by almost 17%, or an additional 1 million loans.
URL to original article: http://www.housingwire.com/articles/28563-credit-standards-going-easy-on-jumbo-mortgages
For further information on Fresno Real Estate check: http://www.londonproperties.com
Monday, January 13, 2014
Dry conditions prompt well-digging frenzy
Source: The Business Journal
Written by Chuck Harvey
Dry weather conditions have kept Valley well diggers busy, both for residential and agricultural uses. In addition, the underground water table and well levels have fallen, meaning higher demand for new wells and deeper wells. Fresno alone has 260 pump stations. But the county has many more wells, including those dug for residents in the country and wells used for farming and industrial users. Fresno County has a total of 26,567 well drilling permits on file. In 2012, the county issued 503 well drilling permits. As of Dec. 20, 2013, the county had issued 893 well permits. Ag and domestic well permits are handled the same and are included in the numbers. Despite the high cost of digging new and deeper wells, many more are coming on line every month. With one of the driest Decembers on record, the underground water table is being heavily tapped. Some water experts believe the situation could lead to a moratorium on water wells except for repairs of existing wells. Well restrictions are already in place for the Paso Robles basin in San Luis Obispo County. There the board of supervisors approved an emergency ordinance that prohibits new development or planting of irrigated crops within the Paso Robles groundwater basin unless water use can be offset by another water use on a 1-1 ratio. Reports state that 375 wells were drilled into the basin in the last five years. Drillers see much the same situation in Fresno County. Along with prolonged drought conditions, they blame a lack of dams and imported water availability on significant loss of underground water. Additional dams would hold water during wet years before moving it to percolation ponds for recharging the underground aquifer. Currently, recharge efforts are not enough to keep well levels from dropping, especially on the Westside of the Valley. So well diggers must go deeper. “We are going deeper than ever before,” said Kim Hammond, a member of the office staff at Arthur & Orum Well Drilling Inc. in Fresno. She said some people whose wells have stopped working called in well diggers to replace them with many more wells. In agriculture, most of the additions and replacements are done by large farm operations. Cost can go as high as $400,000 for a deep well and a pump powerful enough to pull water up from a deep well. That has eliminated many mom-and-pop farmers who can’t afford that kind of expense, Hammond said. She said that with well levels dropping about 10 feet a year, many farmers need wells dug down 500 feet or more. With the drilling cost at $32 a foot, drilling a 500-foot well costs about $16,000. Besides the hefty cost, farmers are having a difficult time getting loans for wells, Hammond said. Despite the costs, well demand remains strong and that has put pressure on equipment and well-digging experts. “We have seven rigs and three operate 24 hours a day,” Hammond said. “It is a good business,” said Steve Arthur, a partner with Arthur & Orum Well Drilling. “We are busy and we run the equipment so hard that repairs are needed.” Also, when well levels drop and a well needs to be dug deeper, it is a slow process Arthur said. A drill can take a well down about 20 feet a day, so lowering a well by 600 feet is a month’s job. Arthur said that even the process of closing up and abandoning a well costs between $2,500 and $3,000. Wells that are dug deeper require a standard well drilling permit. A permit is not required for a repair. Most of the drilling and repairing has been in unincorporated territory outside of Fresno. Water levels have not dropped as drastically as in rural areas to the east and west. “The wells have held up really well,” said Gary Serrato, general manager of Fresno Irrigation District. “The drop off went to the east side.” Still, city water levels that had been at 120 feet are now at 150 feet down, Serrato said. He said that a plan by the city to build a $227 million surface water treatment plant in southwest Fresno would help stabilize the city’s underground water resources. Groundwater use has been fairly heavy in recent years because of lack of rain and reduced allocations from state and federal water sources. Some areas are in especially short supply and have been designated by Fresno County as water-short areas. The areas are east of Fresno, primarily in the foothills, and in far west Fresno County, west of Interstate 5 and including Coalinga. Within the water-short areas, a well yield test is required before building permits or permits granting mobile home occupancy will be granted. The homeowner or well operator must be able to confirm that water is available and will be served to the property. During the winter, the well must have a minimum end-of-test discharge rate of 10 gallons per minute without storage or two gallons per minute with 2,000 gallons of water storage. Fresno County also requires water well inspection and permits for new well construction reconstruction of existing wells and destruction of abandoned wells within unincorporated areas. The water well permitting program helps to assure that private water wells are constructed in a way that won’t contaminate groundwater supply. The county’s Environmental Health Division issues the permits. By the Numbers Fresno County Well Drilling Permits • 26,567 issued for all-time • 503 issued in 2012 • 893 issued as of Dec. 20, 2013 Source: Fresno County
URL to original article: http://www.thebusinessjournal.com/news/energy-and-environment/10332-dry-conditions-prompt-well-digging-frenzy
For further information on Fresno Real Estate check: http://www.londonproperties.com
Written by Chuck Harvey
Dry weather conditions have kept Valley well diggers busy, both for residential and agricultural uses. In addition, the underground water table and well levels have fallen, meaning higher demand for new wells and deeper wells. Fresno alone has 260 pump stations. But the county has many more wells, including those dug for residents in the country and wells used for farming and industrial users. Fresno County has a total of 26,567 well drilling permits on file. In 2012, the county issued 503 well drilling permits. As of Dec. 20, 2013, the county had issued 893 well permits. Ag and domestic well permits are handled the same and are included in the numbers. Despite the high cost of digging new and deeper wells, many more are coming on line every month. With one of the driest Decembers on record, the underground water table is being heavily tapped. Some water experts believe the situation could lead to a moratorium on water wells except for repairs of existing wells. Well restrictions are already in place for the Paso Robles basin in San Luis Obispo County. There the board of supervisors approved an emergency ordinance that prohibits new development or planting of irrigated crops within the Paso Robles groundwater basin unless water use can be offset by another water use on a 1-1 ratio. Reports state that 375 wells were drilled into the basin in the last five years. Drillers see much the same situation in Fresno County. Along with prolonged drought conditions, they blame a lack of dams and imported water availability on significant loss of underground water. Additional dams would hold water during wet years before moving it to percolation ponds for recharging the underground aquifer. Currently, recharge efforts are not enough to keep well levels from dropping, especially on the Westside of the Valley. So well diggers must go deeper. “We are going deeper than ever before,” said Kim Hammond, a member of the office staff at Arthur & Orum Well Drilling Inc. in Fresno. She said some people whose wells have stopped working called in well diggers to replace them with many more wells. In agriculture, most of the additions and replacements are done by large farm operations. Cost can go as high as $400,000 for a deep well and a pump powerful enough to pull water up from a deep well. That has eliminated many mom-and-pop farmers who can’t afford that kind of expense, Hammond said. She said that with well levels dropping about 10 feet a year, many farmers need wells dug down 500 feet or more. With the drilling cost at $32 a foot, drilling a 500-foot well costs about $16,000. Besides the hefty cost, farmers are having a difficult time getting loans for wells, Hammond said. Despite the costs, well demand remains strong and that has put pressure on equipment and well-digging experts. “We have seven rigs and three operate 24 hours a day,” Hammond said. “It is a good business,” said Steve Arthur, a partner with Arthur & Orum Well Drilling. “We are busy and we run the equipment so hard that repairs are needed.” Also, when well levels drop and a well needs to be dug deeper, it is a slow process Arthur said. A drill can take a well down about 20 feet a day, so lowering a well by 600 feet is a month’s job. Arthur said that even the process of closing up and abandoning a well costs between $2,500 and $3,000. Wells that are dug deeper require a standard well drilling permit. A permit is not required for a repair. Most of the drilling and repairing has been in unincorporated territory outside of Fresno. Water levels have not dropped as drastically as in rural areas to the east and west. “The wells have held up really well,” said Gary Serrato, general manager of Fresno Irrigation District. “The drop off went to the east side.” Still, city water levels that had been at 120 feet are now at 150 feet down, Serrato said. He said that a plan by the city to build a $227 million surface water treatment plant in southwest Fresno would help stabilize the city’s underground water resources. Groundwater use has been fairly heavy in recent years because of lack of rain and reduced allocations from state and federal water sources. Some areas are in especially short supply and have been designated by Fresno County as water-short areas. The areas are east of Fresno, primarily in the foothills, and in far west Fresno County, west of Interstate 5 and including Coalinga. Within the water-short areas, a well yield test is required before building permits or permits granting mobile home occupancy will be granted. The homeowner or well operator must be able to confirm that water is available and will be served to the property. During the winter, the well must have a minimum end-of-test discharge rate of 10 gallons per minute without storage or two gallons per minute with 2,000 gallons of water storage. Fresno County also requires water well inspection and permits for new well construction reconstruction of existing wells and destruction of abandoned wells within unincorporated areas. The water well permitting program helps to assure that private water wells are constructed in a way that won’t contaminate groundwater supply. The county’s Environmental Health Division issues the permits. By the Numbers Fresno County Well Drilling Permits • 26,567 issued for all-time • 503 issued in 2012 • 893 issued as of Dec. 20, 2013 Source: Fresno County
URL to original article: http://www.thebusinessjournal.com/news/energy-and-environment/10332-dry-conditions-prompt-well-digging-frenzy
For further information on Fresno Real Estate check: http://www.londonproperties.com
Wednesday, January 8, 2014
McCaffrey Homes wins three national awards
Source: The Business Journal
McCaffrey Homes has won three 2014 silver awards in the National Sales and Marketing Council Awards competition.The National Association of Home Builders presents the awards annually.The 2014 silver award winners were selected from more than 800 entries by a panel of eight award-winning building industry professionals. The awards honor firms and individuals who lead the building industry in innovation and imagination.Silver winners are also finalists to win the gold award, to be announced at the International Builders Show on Feb. 4 in Las Vegas.McCaffrey Homes, a homebuilder in Fresno and Clovis, is the only builder in Central California to earn 2014 national awards. The firm was honored for best landscape design, best brochure (magazine format) and best overall advertising campaign.
URL to original article: http://www.thebusinessjournal.com/news/construction/10254-mccaffrey-homes-wins-three-national-awards
For further information on Fresno Real Estate check: http://www.londonproperties.com
McCaffrey Homes has won three 2014 silver awards in the National Sales and Marketing Council Awards competition.The National Association of Home Builders presents the awards annually.The 2014 silver award winners were selected from more than 800 entries by a panel of eight award-winning building industry professionals. The awards honor firms and individuals who lead the building industry in innovation and imagination.Silver winners are also finalists to win the gold award, to be announced at the International Builders Show on Feb. 4 in Las Vegas.McCaffrey Homes, a homebuilder in Fresno and Clovis, is the only builder in Central California to earn 2014 national awards. The firm was honored for best landscape design, best brochure (magazine format) and best overall advertising campaign.
URL to original article: http://www.thebusinessjournal.com/news/construction/10254-mccaffrey-homes-wins-three-national-awards
For further information on Fresno Real Estate check: http://www.londonproperties.com
CoreLogic: Fresno home prices still on rise
Source: The Business Journal
Written by Business Journal Staff
CoreLogic, a residential property information, analytics and services provider, released its November CoreLogic Home Price Index (HPI®) report showing that in Fresno, home prices, including distressed sales, increased by 15.2 percent in November compared to November 2012.
On a month-over-month basis, home prices, including distressed sales, increased by 0.5 percent in November.
Excluding distressed sales, year-over-year prices increased by 15.9 percent in November compared to November 2012. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI shows home prices increased by 1.5 percent in November.
Madera
In Madera, home prices, including distressed sales, increased by 21.1 percent in November compared to November 2012. On a month-over-month basis, home prices, including distressed sales, decreased by 1.7 percent in November.
Excluding distressed sales, year-over-year prices increased by 27.2 percent in November compared to November 2012. On a month-over-month basis, excluding distressed sales, November home prices increased by 1.6 percent.
Hanford-Corcoran
In Hanford-Corcoran, home prices, including distressed sales, increased by 12.6 percent in November compared to November 2012. On a month-over-month basis, home prices, including distressed sales, increased by 2.3 percent in November.
Excluding distressed sales, year-over-year prices increased by 20.3 percent in November compared to November 2012. On a month-over-month basis, excluding distressed sales, home prices increased by 2.5 percent in November.
Visalia-Porterville
In Visalia-Porterville, home prices, including distressed sales, increased by 15.9 percent in November compared to November 2012. On a month-over-month basis, home prices, including distressed sales, increased by 1.4 percent in November.
Excluding distressed sales, year-over-year prices increased by 20.3 percent in November compared to November 2012. On a month-over-month basis, excluding distressed sales, home prices increased by 1.1 percent in November.
Nationally
Year over year, home prices nationwide, including distressed sales, increased 11.8 percent in November compared to November 2012. The change represents the 21st consecutive monthly year-over-year increase in home prices nationally.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/10240-corelogic-fresno-home-prices-still-on-rise
For further information on Fresno Real Estate check: http://www.londonproperties.com
Written by Business Journal Staff
CoreLogic, a residential property information, analytics and services provider, released its November CoreLogic Home Price Index (HPI®) report showing that in Fresno, home prices, including distressed sales, increased by 15.2 percent in November compared to November 2012.
On a month-over-month basis, home prices, including distressed sales, increased by 0.5 percent in November.
Excluding distressed sales, year-over-year prices increased by 15.9 percent in November compared to November 2012. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI shows home prices increased by 1.5 percent in November.
Madera
In Madera, home prices, including distressed sales, increased by 21.1 percent in November compared to November 2012. On a month-over-month basis, home prices, including distressed sales, decreased by 1.7 percent in November.
Excluding distressed sales, year-over-year prices increased by 27.2 percent in November compared to November 2012. On a month-over-month basis, excluding distressed sales, November home prices increased by 1.6 percent.
Hanford-Corcoran
In Hanford-Corcoran, home prices, including distressed sales, increased by 12.6 percent in November compared to November 2012. On a month-over-month basis, home prices, including distressed sales, increased by 2.3 percent in November.
Excluding distressed sales, year-over-year prices increased by 20.3 percent in November compared to November 2012. On a month-over-month basis, excluding distressed sales, home prices increased by 2.5 percent in November.
Visalia-Porterville
In Visalia-Porterville, home prices, including distressed sales, increased by 15.9 percent in November compared to November 2012. On a month-over-month basis, home prices, including distressed sales, increased by 1.4 percent in November.
Excluding distressed sales, year-over-year prices increased by 20.3 percent in November compared to November 2012. On a month-over-month basis, excluding distressed sales, home prices increased by 1.1 percent in November.
Nationally
Year over year, home prices nationwide, including distressed sales, increased 11.8 percent in November compared to November 2012. The change represents the 21st consecutive monthly year-over-year increase in home prices nationally.
URL to original article: http://www.thebusinessjournal.com/news/real-estate/10240-corelogic-fresno-home-prices-still-on-rise
For further information on Fresno Real Estate check: http://www.londonproperties.com
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