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.
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)
- NOW OPEN – Vantage at Harlan Ranch (Clovis, CA) by Benchmark Communities
- GRAND OPENING – Tuesday, October 16, 2012 @ 10am – Bungalow Court (Fresno, CA) by GV Urban, a division of Granville Homes
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