FRESNO, Calif. (KFSN) — Experts say a sluggish start to the warm-weather home-buying period has ended, with many Valley families now ready to make a move.<\/p>\n
“May was a little bit slow real estate-wise, the first part of the year, but now it’s picking up quite a bit,” says Carmen Jimenez Phillips of Century 21 Select. “July has picked up more than June.”<\/p>\n
Phillips is a past president of the Fresno Realtors Association.<\/p>\n
She notes homes are moving faster in Clovis neighborhoods, despite their higher median price point.<\/p>\n
“In Fresno County, we’re looking at about $405,000, which is still conservatively priced compared to the state at over $900,000,” she said. “If you’re looking at Clovis, we’re over $500,000.”<\/p>\n
Jimenez Phillips says Valley homes generally stay on the market for about 25 days, despite tough economic times and mortgage interest rates at about 6.5%.<\/p>\n
“I can tell you the numbers are really great,” she said. “The values are staying up high. The market is doing great price-wise, but our families are still finding it unaffordable because of the state of the economy right now.”<\/p>\n
With a 3 1\/2 month inventory, more homes to pick from, those in the market do have more room to negotiate.<\/p>\n
Properties priced too high tend to sit on the market longer.<\/p>\n
“I think what’s happening is they’re used to seeing prices that we had six months ago or a year ago,” Jimenez Phillips said. “Their neighbors sold their home for this much. They want this much today. They’re not realizing the market is changing.”<\/p>\n
Jimenez says that a year ago, she may have had one or two properties to show clients.<\/p>\n
Today, that number’s much higher, with 5-10 homes available to show.<\/p>\n
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