Thank you from Land Advisors Organization California Division!

LandAdvisorsCA1B2014TotalConsiderationClick on image to enlarge

 

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California Division: 2012 Year in Review

LAO-CA Infographic 2012 YIR

Source: Tom Reimers, President, (949) 852-8288 x28

Fresno County Approved TTM Lots Going Once, Twice…

Land Advisors Organization is pleased to say SHOUT! the handful of approved tentative tract maps (TTM) available for sale within Clovis’ city limits have been receiving multiple offers.  The City of Fresno is next to follow where lots previously located in “B” and “C” locations are quickly becoming the new “A” lots.   The time is now for developers and homebuilders to pounce on every reasonably priced TTM.  Call LAO’s Fresno office at (559) 549-6326 for a current list of available inventory.

POLL:  

HOME SALES:

  • Distressed homes sales are on the decline. FULL STORY
  • Home prices are up 18% from a year ago. FULL STORY

NEW DEVELOPMENTS: On November 7, 2012 The Madera County Board of Supervisors re-approved 4-0 the 1,656-acre, 5,190-home Tesoro Viejo planned urban community proposed by McCaffrey Group.

Source: Mark Utman, Marketing Consultant, (559) 549-6326

WANTED: FRESNO LAND DEVELOPERS

According to Fresno real estate blogger, BoNhai Lee, the City of Fresno says ±16,000 acres of land remain for housing development.  With that being said, Fresno is in need of land developers to entitle and process new tentative tract maps.

Land Advisors Organization’s Fresno office is happy to announce the San Joaquin Valley is (finally!) coming alive in “A” locations.  Builders are complaining there are not enough improved lots to choose from in Clovis and northeast Fresno.

POLL: 

RECENT CLOSINGS (September 2012): 

  • An investor purchased 36 finished lots in Madera (brokered by LAO)
  • A farmer purchased ±37 unimproved acres in Clovis (brokered by LAO)

NEW COMMUNITIES:

HOME SALES: According BoNhia Lee (@bonhialee), new home sales accounted for 5% of the Central Valley residential transactions this year compared to 26% in 2006.

Source: Mark Utman, Marketing Consultant, (559) 549-6326

Fresno & Madera Counties Heating Up

Good news, Madera is on the rebound.  Better news, you can still find improved finished lots below replacement cost….better hurry because prices are expected to increase!  FULL STORY

VACANT FINISHED LOT INVENTORY BY THE NUMBERS

CLOSINGS: August 2012 – Land Advisors closed seven vacant lots within Tract 5351 to a private homebuilder.  The private homebuilder bought the lots to expand its presence in the City of Clovis.

HOME SALES: Existing homes in Fresno are selling fast!  In June, Fresno resales reported a median of 43 days on market compared to a median of 90 days on market at the peak.  This represents a 52.2% decrease in days on market for Fresno.  FULL STORY

FEES: City development fees for Coalinga have been waived until April 2013.  Contact Matt Power at (805) 845-2660 or Mark Utman at (559) 549-6326 for further details.

NEW DEVELOPMENTS: The controversial high speed rail construction along Highway 99 has been delayed until 2014. FULL STORY

Source: Mark Utman, Marketing Consultant, (559) 549-6326

Demand Rising for (Residential) Land in Fresno

More land buyers than sellers? That’s the story in Fresno today.  In preparing for the economy to rebound, builders are reloading their inventory of buildable lots.  However, finding lots at market rate prices is not easy in Fresno.  Lot inventory has been thinning since 2008 and only a handful of new maps have been recorded or are currently in process at the City.  Inferior locations are still quiet, but residential lots that are in A & B locations are receiving multiple bids.

  • April 2012 Finished Lot Inventory: Fresno = 1,051 Vacant Finished Lots; Clovis = 1,199 Vacant Finished Lots

April 2012 – Land Advisors closed additional finished lots on a rolling takedown to Lennar in southeast Fresno.  The public homebuilder bought the lots as an extension to a legacy project it already has under its wings.

Apartment activity is picking up: This month Santa Barbara Bank & Trust sold 8 acres of unimproved land, approved for 78 multifamily units.

ZONE CHANGE APPROVAL:  On April 4th, the Fresno Planning Commission  unanimously approved plans and a zoning change for a north Fresno 118-home development by McCaffrey Homes with a stipulation that homes on the east side of the project adjacent to the existing Bella Montagna development will be single story.  FULL STORY

  • The 13-acre site was originally zoned for commercial/retail use.  The recent approval by the Planning Commission is controversial for the local residents in the area, and the Fresno City Council will now meet on the issue to vote. (Watch the VIDEO via CBS 47)

GENERAL PLAN UPDATE:  The Fresno GP update calls for a more controlled approach to residential growth. Earlier this month, the Fresno Planning Commission unanimously endorsed Plan A which aims to maintain the current sphere of influence, and protects prime agricultural land from becoming more subdivisions.  Approval is slated for April 19th.

Source: Mark Utman, Marketing Consultant, (559) 549-6326

Fresno, Spring in its Step?

This winter, Fresno homebuyer traffic is the best we’ve seen in 2+ years! Could it be due to Fresno’s declining unemployment rate?  Or, perhaps it’s the dry warm weather this season?  Either way, homebuilders active in the Fresno marketplace right now are welcoming the new interest from homebuyers with open arms as the spring selling season begins full bloom.

Median new home base prices are hovering around $110 per square foot, which is $60 per square less than peak values in 2006.

News You Can Use from the Fresno/Clovis Submarket…

Valley Builders Optimistic In Spite Of Housing Market: Despite a sea of foreclosures and bargain-priced houses for sale across the central San Joaquin Valley, homebuilders are still finding a reason to raise the walls and roofs on new homes… MORE

More on the Activity in Fresno’s New Home Market:  New home construction seems to be on an upswing in neighborhoods across the Valley. And builders are optimistic that the market is starting to turn. (This week’s) story in The Bee tells you what some Fresno homebuilders have done to get through the downturn and who is buying new, but it doesn’t cover everyone.

Here’s a look at what other builders in town have done to attract buyers along with more from homebuyers that we couldn’t squeeze into the final story… READ ON

Clovis City Council Oks Map Laying Out City’s Future:  A plan that lays out the future neighborhoods of Clovis was approved Monday (2/13) night by the City Council, despite fears from some rural residents that it won’t adequately protect their land from urban intrusion. …Rural residents who live on large lots east of the city say a proposed open-space buffer of 100 feet is not wide enough to shield their homes from the housing tracts of smaller-lot homes that would be allowed under the new general plan… READ ON or, WATCH VIDEO via KFSN.

California’s High-Speed Rail Project Continues despite Criticism: California’s high-speed rail project is already projected to take longer and be more costly than originally projected, but the obstacles facing it are not yet over. Governor Jerry Brown is trying to push the project through the Legislature this year, though… MORE

Source: Mark Utman, Marketing Consultant, (559) 449-4500