$1.75M in grants boost Valley housing projects

Source: The Business Journal

Four planned affordable housing developments in the San Joaquin Valley were awarded $1.75M in the latest round of grants from the Federal Home Loan Bank of San Francisco. In all, bank members supporting 76 projects throughout the country will see a portion of the $49.4 million in grants as part of the San Francisco bank's 2014 Affordable Housing Program funding competition. Ranging from $25,000 to $1.5 million each, the grants support construction projects like rental housing for low-income families, transitional permanent housing with supportive services for veterans and sustainable developments that will be LEED (Leadership in Energy and Environmental Design) certified or GreenPoint rated. Out of the total, $470,000 will go to Rabobank in Fresno County to help fund the Kingsburg Senior Village being built by the Pacific Southwest Community Development Corporation. The project, which will include 48 rental units for senior residents, aims to achieve gold rating in the U.S. Green Building Council's LEED program. Rabobank will also distribute a grant of $450,000 to the Fresno Housing Authority as it builds the 46-unit Marion Villas Apartments in Kingsburg. Located in Kingsburg's Central Commercial District, the development is close to a grocery store, public library and park and will include a community room with a kitchen and lounge area. Another $800,000 will come from Rabobank as the Fresno Housing Authority rehabilitates the Orange Cove Rental Assistance Project. When complete, the multi-family, scattered-site affordable housing development will have new flooring and windows, exterior paint and roofing as well as upgraded mechanical and electrical systems. The development will also be improved with more than 6,300 square feet of new space for community activities and recreation. In Tulare County, Central Valley Community Bank will funnel its $30,000 grant to Habitat for Humanity as it works on the Building Hope affordable housing community in Porterville. The project will consist of two single-family homes being built using Habitat for Humanity's self-help sweat equity model in which homebuyers are credited for their contributions on building their new homes.

URL to original article: http://www.thebusinessjournal.com/news/banking-and-finance/12715-1-75m-in-grants-boost-valley-housing-projects 

For further information on Fresno Real Estate check: http://www.londonproperties.com

Trulia: Housing shaking off spring slump?

Source: Housingwire
 Barometer shows recovery gains, but something still missing

By: Trey Garrison

Trulia (TRLA) is making the case that the underlying fundamentals of the housing industry are on track, and that only a few components are missing from a full-on charge out of the late winter, whole of spring downturn -- first-time buyers. Prices, sales, and starts are recovering, and prices are near normal levels, but first-time buyers are missing from the housing equation. First-time homebuyers are still missing from the housing recovery, making up just 27% of existing-home buyers according to the May report from the National Association of Realtors. That’s down a bit both from last month and from last year. That, they say, is what is dragging down housing. Trulia notes that home-price levels are 79% back to normal, up from 44% one year ago. Prices should reach their long-term norm relative to fundamentals late in 2014 or early in 2015. Further, they say, delinquency plus the foreclosure rate continued to drop and is now 74% back to normal, from just 53% back to normal one year ago. Existing home sales, excluding distressed sales, are 64% back to normal – roughly the same as one year ago and up slightly from 61% last quarter. Trulia’s Bubble Watch shows prices were 3% undervalued in 2014 Q2, compared with 15% at the worst of the housing bust; that means prices are nearly four-fifths (79%) of the way back to their “normal” level of being neither over- nor under-valued. New construction starts have reached the halfway mark, at 50% back to normal, boosted by apartment construction. Year-to-date, multi-unit starts are the highest share of overall construction in 40 years. On the downside, they note, the employment rate for 25-34 year-olds, a key age group for household formation and first-time homeownership, fell back to 35% back to normal, down from 39% one quarter ago. So what’s holding off first-time buyers? Jed Kolko, chief economist at Trulia, says would-be first-timers are stuck: rising prices and mortgage rates have reduced affordability before young adults have been able to recover from the jobs recession. “A full recovery that includes first-time homebuyers is still years away; many young adults still need to find jobs and keep them long enough to save for a down payment and qualify for a mortgage. Until that happens, the clearest signs of recovery will be apartment construction and renter household formation, not first-time home buying,” he says.

URL to original article: http://www.housingwire.com/articles/30436-trulia-housing-shaking-off-spring-slump 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

CoreLogic: Fresno area foreclosures fall

Source: The Business Journal

Foreclosure rates in Fresno decreased for the month of April over the same period last year, according to newly released data from CoreLogic, a global property information, analytics and data-enabled services provider. The CoreLogic data shows the rate of Fresno area foreclosures among outstanding mortgage loans was 0.90 percent in April, a decrease of 0.49 percentage points compared to April of 2013 when the rate was 1.39 percent. Foreclosure activity in Fresno was lower than the national foreclosure rate, which was 1.77 percent for April. Also in Fresno, the mortgage delinquency rate decreased. According to CoreLogic data for April, 3.18 percent of mortgage loans were 90 days or more delinquent compared to 4.88 percent for the same period last year, representing a decrease of 1.70 percentage points.

 Madera

Foreclosure rates in Madera decreased for the month of April over the same period last year, according to the CoreLogic data. The rate of Madera area foreclosures among outstanding mortgage loans was 1.02 percent for April, a decrease of 0.60 percentage points compared to April of 2013 when the rate was 1.62 percent. Also in Madera, the mortgage delinquency rate decreased. According to CoreLogic data for April, 3.60 percent of mortgage loans were 90 days or more delinquent compared to 5.17 percent for the same period last year, representing a decrease of 1.57 percentage points.

 Visalia-Porterville

 Foreclosure rates in Visalia-Porterville decreased in April over the same period last year, according to CoreLogic data. The data shows that the rate of Visalia-Porterville area foreclosures among outstanding mortgage loans was 0.91 percent for the month of April, a decrease of 0.51 percentage points compared to April of 2013 when the rate was 1.42 percent. Also in Visalia-Porterville, the mortgage delinquency rate decreased. According to CoreLogic data for April, 3.44 percent of mortgage loans were 90 days or more delinquent compared to 4.78 percent for the same period last year, representing a decrease of 1.34 percentage points.

 Hanford-Corcoran

Foreclosure rates in Hanford-Corcoran decreased for the month of April over the same period last year. The CoreLogic data shows the rate of Hanford-Corcoran area foreclosures among outstanding mortgage loans was 1.11 percent for April, a decrease of 0.51 percentage points compared to April of 2013 when the rate was 1.62 percent. Also in Hanford-Corcoran, the mortgage delinquency rate decreased. According to the data for April, 3.90 percent of mortgage loans were 90 days or more delinquent compared to 5.62 percent for the same period last year, representing a decrease of 1.72 percentage points.

URL to original article: http://www.thebusinessjournal.com/news/real-estate/12659-corelogic-fresno-area-foreclosures-fall 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

Fortune Associates named a small business of the year

Source: The Business Journal

Sen. Tom Berryhill, R-Modesto, on Monday recognized Fresno area real estate company Fortune Associates as a small business of the year. The recognition came at a ceremony and luncheon in Sacramento sponsored by the California Small Business Association (CSBA). Fortune Associates has been in the Fresno real estate business for 35 years. Larry Fortune, president of Fortune Associates, and his wife Jane attended the luncheon. "Larry Fortune built his business on integrity and with a dedication to our community,” Berryhill said in a release. “It is a real honor to recognize him at the CSBA luncheon in Sacramento." Larry Fortune is past president of the Fresno Association of Realtors, an honorary director for life of the California Association of Realtors and in 1986 was named realtor of the year by the Fresno Association of Realtors. In addition he has been appointed to or involved in numerous other positions within the U.S. Bankruptcy Court. Among other affiliations, Fortune currently serves as chairman of the Center for Advanced Research and Technology and is on the board of directors of the Economic Development Corporation serving Fresno County. "Congratulations to Larry Fortune and all the other hard working folks at Fortune Associates for a job well done," Berryhill said.

URL to original article: http://www.thebusinessjournal.com/news/real-estate/12555-fortune-associates-named-a-small-business-of-the-year 

For further information on Fresno Real Estate check: http://www.londonproperties.com

Valley sees rise in home sales in May

Source: The Business Journal

Much of the Valley saw an increase in home sales during May and even had the inventory to match. According to a new report from the California Association of Realtors, home sales increased just 0.4 percent in Fresno County during the month and 6.7 percent compared to May 2013. The price of a median home in Fresno County stood at $199,540 in May, up 3.5 percent from $192,880 the prior month and up 18.9 percent from $167,770 a year ago. Sales in Tulare County climbed 13.8 percent during the month but fell 3.5 percent in the year-over-year comparison. The county's median home price rose 2.7 percent in May to $177,140 over April's price of $172,500. That's also up 12.5 percent from $157,500 a year ago. Kings County saw its home sales jump 13 percent in May but fall 14.3 percent compared to a year earlier. Home prices in the county stood at $171,670 in the month, up 3.3 percent from $166,250 in April and 15.2 percent from $149,000 in May 2013. Madera County was not as fortunate in May, with sales dropping by 27.6 percent compared to the prior month and a year ago. The county's median home price was also down by 3.2 percent in the month, going from $182,500 in April to $176,670 in May. However, that's 24.4 percent higher than $142,000 last year. Fresno County's unsold inventory index, or number of months to deplete the supply of homes at the current sales rate, stood at 4.4 months in May, up from 4.3 months in April and 3.6 months in May 2013. Madera County's index was up to 3.9 months in May compared to 3.3 months in April and 3.6 months a year ago. Kings County's inventory dropped to 3.3 months in May compared 3.7 months in April and 2.5 months a year ago. The inventory index for Tulare County stood at 3.8 months in May compared to 4.3 months in April and 2.7 months in May 2013. Statewide, home sales totaled 391,030 units in May, down 0.6 percent from 393,480 in May and 9.5 percent from 432,140 in May 2013. "Since last summer, the market has been transitioning to a slower pace of sales, somewhat higher inventory and less upward pressure on prices," said C.A.R. President Kevin Brown, in a release. "Generally spacing, buyers are feeling less urgency to buy as affordability has become more of an issue and lending standards continue to remain tight. However, a recent surge in mortgage applications, due partially to declining interest rates, may indicate that higher housing demand can be expected in the coming months."

 URL to original article: http://www.thebusinessjournal.com/news/real-estate/12568-valley-sees-rise-in-home-sales-in-may

 For further information on Fresno Real Estate check: http://www.londonproperties.com

Ruiz Foods starts $20M expansion in Denison, Tex.

Source: The Business Journal

Ruiz Foods of Dinuba has begun Phase II of an expansion of its Denison, Tex. manufacturing facility. Phase II is a $20 million project that features construction of a second production line. On June 19, 2013, Ruiz Foods announced a $30 million Phase I facility expansion in Denison. It featured a 50,000 square-foot building addition and a new production line. “With Phase II we will continue to meet the growing demand in key market segments.” said Rachel Cullen, president & CEO, Ruiz Foods, in a release. “We are also pleased to announce that with Phase II Ruiz Foods, Denison hopes to add up to 150 to 175 new jobs over the next several years.” Ruiz Foods' headquarters are in Dinuba where the company's 300,000 square-foot main manufacturing plant is located. The manufacturing growth comes amidst the 50th anniversary of Ruiz Foods. Fred Ruiz and his father, Louis, co-founded Ruiz Foods in 1964, selling enchiladas, burritos and tamales to local “mom and pop” grocery stores in the small rural community of Tulare located in Central California. El Monterey is the top selling brand of frozen Mexican food in the United States. Ruiz Foods also manufactures Tornados, a popular snack on the convenience store roller grill. The company announced its initial expansion into Denison in May 2005. A complete renovation of the facility began immediately. By January 2006, the company scheduled its first shipment of El Monterey Family Pack Burritos. “Texas and the City of Denison are blessed to be the home of Ruiz Foods’ fastest growing plant,” said Jared Johnson, mayor of Denison, in the release. “They are a superior corporate citizen and provide not only a highly sought-after product, but excellent job opportunities for our region.” Earlier this month, Ruiz Foods announced an East Coast expansion through the purchase of an existing facility in Florence, SC. The company is also expanding its corporate headquarters in Dinuba. Ruiz Foods is a privately owned corporation.

URL to original article: http://www.thebusinessjournal.com/news/retail/12606-ruiz-foods-starts-20m-expansion-in-denison-tex 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

Apartment complex coming up in northeast Fresno

Source: The Business Journal
Written by Ben Keller, Business Journal staff writer

 In a dirt field surrounded by houses, a new apartment complex taking shape at the corner of Nees and Chestnut avenues will soon provide more living options for residents of northeast Fresno. Spencer Enterprises of Fresno began building the complex around six weeks ago, envisioning 160 one-, two- and three-bedroom apartments on a 10-acre site. There will also be a recreation building, workout facility, pool, laundry facilities and other common area amenities. Vice President Steven Spencer said when complete around August 2015, the yet unnamed complex will serve a need in the northeast Fresno area where few other multi-family residential housing projects exist. "There's a complex on Chestnut Avenue north of us near Teague. Otherwise, you have to go as far as Cedar," said Spencer. Spencer said floor plans at the new complex will range from 800 square feet for one-bedroom apartments on monthly rents between $900 and $950 to 1,400 square feet for three-bedroom layouts for about $1,450 per month. So far, foundations have been poured for four of the 20 apartment buildings, while all of the foundations should be complete in the next eight weeks. Total construction costs are estimated at close to $20 million, Spencer said. Since Steven Spencer's father Richard Spencer began Spencer Enterprises in 1973, the company has built around 20 apartment complexes, most of them in the Fresno area and another two in Madera and Bakersfield. All of the company's apartment complexes are overseen and managed by Royal T Management of Fresno.

URL to original article: http://www.thebusinessjournal.com/news/construction/12553-apartment-complex-coming-up-in-northeast-fresno 

For further information on Fresno Real Estate check: http://www.londonproperties.com

Sam's Italian Deli honored in state capitol

Source: The Business Journal

A longtime Fresno business was honored in Sacramento today as part of California Small Business Day. The owner of Sam's Italian Deli were named as the 31st Assembly District's Small Business of the Year by Assemblymember Henry T. Perea "for their Italian spirit and familial feel that has customers enter as strangers and leave as family." Sam and Angela Marziliano opened Sam's Deli in Fresno in 1980, relocating here from Toronto. Son Nick is the second generation in the family business. “Their commitment to serving the community and expanding their business has been passed down to the next generation as Nick continues to run the business and bring the business online," Perea said in a statement. "Congratulations to Sam’s Deli!” Family patriarch and founder Sam Marziliano died in 2011.

 URL to original article: http://www.thebusinessjournal.com/news/small-business/12551-sam-s-italian-deli-honored-in-state-capitol 

For further information on Fresno Real Estate check: http://www.londonproperties.com

Catalyst settles into new Downtown Fresno digs

Source: The Business Journal
Written by Chuck Harvey

When staff at Catalyst Marketing Co. started planning a move into the old Pearson building at 1466 Van Ness Ave. in Fresno, it was uncertain whether the 7,400 square-foot building could be converted into a modern advertising and marketing agency. Hallways chopped up the interior and a low ceiling made for a cramped feel in the single-level structure. Also, outdoor lighting was limited. Now, just one year after plans kicked in, the facility is open, hallways are gone, doors have been removed on most offices, the ceiling is much higher and skylights help to illuminate the whole building. It required a lot of work, but the effort paid off for both Catalyst Marketing and the City of Fresno, which encourages restoration of existing buildings and classic homes. The city can boast of a beautifully restored building and Catalyst Marketing has an attractive, comfortable and useful building for its employees. And it is more usable than the previous Catalyst location at 970 Van Ness Ave. in the old Rowell Building. Stephanie Catron, interior designer of Fresno, designed the project. Along with a more open feel, Catron made good use of color, especially on the office walls. Each office on the north side of the building is painted in a different color. Because the offices are in a straight line, it creates a rainbow affect when viewing the offices after entering the building. Also, red, used on Catalyst’s own marketing materials, is used both on the outside and inside of the building. In the center of the building, walls have been replaced with open cubicles that allow employees to easily communicate with one another. “It helps in collaboration,” said Mike Thielen, president of Catalyst Marketing Co. “It gives a real sense of community. It allows us to do pretty good work.” Thielen said that with so much depending on email and the Internet, face-to-face communication has declined considerably. But with the open design of the building, real communication is possible, he said. Mark Astone, chief executive officer of Catalyst Marketing Co. agreed. “We worked together in collaboration and made it work,” Astone said. “We opened it up and made it work.” The new design fosters teamwork, he said. Catalyst staff wanted more natural light, so they ripped out the ceiling and built skylights. But construction crews found that the sheetrock ceiling was bolted to the rafters. So it took some time remove the sheetrock. Now the ceiling has exposed metal framework and skylights at a much higher level than the original ceiling. It gives the ceiling a clean classic warehouse look. Removing hallway walls was also challenging. Crews had to make sure removing the walls would not impact the stability of the building. Then the walls came down, creating an open, friendly atmosphere. With the added lighting, houseplants could be brought in to give the building an even more inviting look, while helping to keep the air fresh and pure. “We had a mission to move in plenty of plants,” Astone said. “They have done well.” Also workers constructed a new kitchen and break room. Astone said the outside of the building still looks good. “We have a retro look outside,” he said. Astone added that it was a pleasure contributing to downtown revitalization. “We love downtown,” he said. “We are excited to see downtown develop.” The restored building easily fits Catalyst’s 30 employees. But it has enough space to fit 60. Astone expects the 40-year-old company to grow gradually over the next few years. Part of the growth plan is to maintain a diverse client base both inside and outside of the San Joaquin Valley. And Catalyst will remain a one-stop shop that offers all aspects of advertising, marketing, social media and product branding. Along with serving the needs of clients within the Valley, Catalyst Marketing Co. also specializes in promoting tourism, including resorts and theme parks all over the United States. “The travel market is growing,” Astone said. That includes a big jump in international travel from China and other major countries, he said.

URL to original article: http://www.thebusinessjournal.com/news/media-and-marketing/12380-catalyst-settles-into-new-downtown-fresno-digs 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

East Visalia commercial center approved

Source: The Business Journal
Written by Ben Keller, Business Journal staff writer

The Visalia Planning Commission last night approved a new development on the city's eastern fringe that calls for a hotel, strip mall and other commercial services. Following a 5-to-1 vote by the planning commission, the Chandi Group Retail Center will begin cropping up on a 12-acre grass field near the southeast corner of Lovers Lane and Noble Avenue. The development, proposed by Los Angeles-based developer Chandi Group USA and planned by 4Creeks of Visalia, will be anchored by a four-story, 120-room hotel and a 46,600 square-foot strip mall. Other plans include a 15,000 square-foot drug store, a fast food restaurant with a drive-thru, an Arco/AMPM gas station and a market. Spanning 106,400 square feet of building space, the development consists of six commercial parcels to be developed in four phases. 4Creeks is also planning the Square at Plaza Drive in Visalia to be to be built on a 25-acre field just north of Plaza Drive off of Highway 198. The project calls for a 65-room hotel, two sit-down restaurants and a combination gas station and convenience store, along with a center court area bordered by three-story buildings with retail shops, office space and residential suites. Sited just east of the Lampe Chrysler Dodge Jeep Ram dealership, the development would feature about 265,000 square-feet of structures to be built out over five to 10 years. That project is waiting on a public hearing to be scheduled before the Visalia Planning Commission.

 URL to original article: http://thebusinessjournal.com/news/development/12409-east-visalia-commercial-center-approved 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

Dickey’s Barbecue chain Fresno-Clovis bound

Source: The Business Journal
Written by Chuck Harvey

 Barbecue tri-tip, ribs and pulled pork have become favorites in the Fresno-Clovis area and a planned addition of two new Dickey’s Barbecue Pit restaurants — one in Fresno and the other in Clovis — will add to the area’s already impressive list of barbecue establishments, each offering its own brand of beef and pork, seasoned with tasty barbecue sauces and rubs. The attraction of barbecue could prove a big plus for Fresno and Clovis where travelers like to stop on their way to Yosemite and other Sierra locations. “If we team up, we could become a barbecue destination,” said Manuel Perales, owner of High Sierra Grillhouse in Fresno. He added, “Tri tip and barbecue ribs are our top two sellers.” “Barbecue has always been popular here,” Perales added. Perales said the addition of Dickey’s Barbecue Pit could help bring more barbecue lovers to Fresno and Clovis. Also, television shows like Barbecue Pit Masters on Destination America cable TV, have helped educate people to some degree about good barbecue, said Gregory Washington, owner of Smokey’s Grill in Fresno. Washington said it is important, adding that Fresno is more of a taco town with most residents seeking cheap food. By contrast, Washington said he gets repeat customers from all over the globe. And if high-speed rail is built, it will bring even more travelers to Fresno seeking good barbecue, he said. Many clamor for the styles of barbecue that made Kansas City, Missouri and much of Texas famous for its ribs, pulled pork and brisket. Dallas-based Dickey’s Barbecue pit is known for its eight hot pit-smoked barbecue meats, barbecue beans and free ice cream. All meats are slow-smoked on site at each restaurant. Dickey’s franchise owners Kevin and Brian Roche plan to open the Clovis location this summer followed by a Fresno Dickey’s in October. The Fresno Dickey’s Barbecue will be in the El Paseo Shopping Center at the southwest corner of Herndon Avenue and Riverside Drive. It will span 2,400 square feet. The Clovis Dickey’s Barbecue will be at 1610 Herndon Ave., just west of Fowler Ave. Jami Zimmerman, director of public relations for Texas-based Dickey's Barbecue Restaurants, Inc., said the Roche partners plan to open four or five more of the restaurants in the Fresno area in the near future. But it doesn’t end there. Dickey’s Barbecue struck a 10-year deal with the Roches and partner Phil Fontes to develop 100 restaurants in Southern and Central California. It’s the largest development deal ever made by the 72-year-old restaurant enterprise. The partners are centering their local development plans in Fresno, Clovis and Hanford. They are also seeking sites on the coast near Seaside and Santa Maria. “I tried a Dickey’s in Minnesota and was blown away,” said Kevin Roche recently. “I immediately called Bryan and told him we had found out new franchise.” Each of the Dickey’s locations will hire as many as 25 workers and several managers. Dickey’s already has restaurants in Hanford, Visalia and Porterville. It is ramping up for two in Kingsburg, under the franchise ownership of Steve Pellegrine. Dickey’s franchising began in 1994 and Roland Dickey took on the position as president of the company in 2006. He expanded the reach of Dickey’s from 20 restaurants to 300 restaurants. Dickey’s currently has 32 locations in California with another 18 in development.

 URL to the original article: http://www.thebusinessjournal.com/news/retail/12313-dickey-s-barbecue-chain-fresno-clovis-bound 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

CoreLogic: Fresno home prices still rising

Source: The Business Journal

 CoreLogic,a global property information, analytics and data-enabled services provider, today released its April CoreLogic Home Price Index report showing that in Fresno and other Valley locations, year-over-year home prices continue to rise. Home prices nationwide, including distressed sales, increased 10.5 percent in April compared to April 2013. The change represents 26 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased 2.1 percent in April compared to March. In Fresno, home prices, including distressed sales, increased by 12.3 percent in April compared to April 2013. On a month-over-month basis, home prices, including distressed sales, increased by 1.7 percent in April compared to March. Excluding distressed sales, year-over-year prices increased by 10.4 percent in April compared to April 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI indicates home prices increased by 1.2 percent in April compared to March.

Madera

 In Madera, home prices, including distressed sales, increased by 13.7 percent in April compared to April 2013. On a month-over-month basis, home prices, including distressed sales, decreased by 0.5 percent in April compared to March. Excluding distressed sales, year-over-year prices increased by 10.9 percent in April compared to April 2013. On a month-over-month basis, excluding distressed sales, the CoreLogic HPI shows home prices decreased by 0.3 percent in April compared to March.

Hanford-Corcoran

In Hanford-Corcoran, home prices, including distressed sales, increased by 10.7 percent in April compared to April 2013. On a month-over-month basis, home prices, including distressed sales, increased by 2.1 percent in April 2014 compared to March 2014. Excluding distressed sales, year-over-year prices increased by 11.8 percent in April compared to April 2013. On a month-over-month basis, excluding distressed sales, home prices decreased by 0.2 percent in April compared to March.

 Visalia-Porterville

In Visalia-Porterville, home prices, including distressed sales, increased by 15.3 percent in April 2014 compared to April 2013. On a month-over-month basis, home prices, including distressed sales, increased by 1.7 percent in April compared to March. Excluding distressed sales, year-over-year prices increased by 10.1 percent in April compared to April 2013. On a month-over-month basis, excluding distressed sales, home prices decreased by 0.5 percent in April compared to March.

URL to original article: http://www.thebusinessjournal.com/news/real-estate/12290-corelogic-fresno-home-prices-still-rising 

For further information on Fresno Real Estate check: http://www.londonproperties.com