Wednesday, May 20, 2015

Fresno Forum on California’s Deteriorating Transportation System

Are You Concerned About the
Condition of Highways, Roads and Local Streets?

Please join us at a public transportation forum to discuss the state’s role
in funding road repair and maintenance.

WHEN:
Wednesday, May 27, 2 p.m. to 4 p.m.
Exhibits and networking: 2 p.m. to 2:30 p.m.
Presentations and discussion: 2:30 p.m. to 4 p.m.

WHERE:
Double Tree Hotel
2233 Ventura Blvd., Fresno

SPONSORED BY: 
California Transportation Commission
San Joaquin Valley Regional Transportation Planning Agencies
Fresno Chamber of Commerce
Fresno Economic Development Corporation

Your voice is needed to help identify and implement policies to ensure that all Californians benefit from a wellmaintained and efficientlyfunctioning transportation system. Please plan to attend.

IMPORTANT NOTE: The purpose of this public forum is to discuss funding for transportation system repair and
maintenance, with a primary focus on highways, roads and local streets. This forum will not address issues related
to high‐speed rail

Monday, May 18, 2015

REO cash sales hover near 60 %

REO Cash Sales Share Hovers Near 60 Percent

bank-owned-fiveThe cash sales share for REO properties was little changed from January to February, falling only slightly from 60 percent to 59.8 percent, according to CoreLogic's February 2015 cash sales report released Wednesday.
The REO cash sales share percentage of 59.8 for February still has not completely recovered from what was termed a seasonal decline from November to December, when fell from 61.1 percent to 58.4 percent, though it did move back up to 60 percent for January.
As has historically been the case, REO sales had the largest cash sales share in February, followed by resales (37.6 percent), short sales (34.3 percent), and new home sales (15.8 percent).
Though the cash sales share for REO remained near 60 percent, the percentage of total home sales that were REO sales fell slightly from January to February from 9.9 percent down to 9.7 percent. In January 2011 at the height of the foreclosure wave, when cash sales reached their peak, REO sales made up 23.9 percent of all home sales. Resales, which comprise about 80 percent of cash sales, have the most weight on the overall share of cash sales.
In all, cash sales accounted for 37.9 percent of all home sales in February 2015, down from 40.6 percent the previous February; the peak occurred in January 2011 when cash transactions comprised about 46.5 percent of all home sales. February 2015 was the 26th consecutive month (since January 2013) for year-over-year declines in cash sales as a percentage of total home sales. If the decline continues at its current rate, the share of cash sales as a percentage of all home sales should fall below 25 percent by mid-2018, according to CoreLogic.

Flipping over renting by narrowing margin

Investors Continue to Favor Flipping Over Renting by Narrowing Margin

real-estate-onlineReal estate investors still prefer flipping as a strategy over renting, albeit by a narrowing margin, according Auction.com's April 2015 Real Estate Investor Activity Report released on Wednesday.
Whereas the data from Q1 showed that flipping was gaining momentum, the April monthly survey showed that the gap between the preference for renting and flipping was closing, according to Auction.com. The survey was collected from investors who bid on properties both online and at live events nationwide during April 2015.
Overall investor intent in April's survey showed that slightly more than half (50.4 percent) of investors preferred flipping as a strategy, while 48.3 percent of investors said they intended to employ a hold-to-rent strategy. This data compared with 53.5 percent and 44.8 percent, respectively, in Q1.
"Most of the country and most investor segments performed in a manner very consistent with what we’ve seen over the past year, but investment strategies in Texas appear to have shifted pretty dramatically," Auction.com EVP Rick Sharga said. "Investors probably realize that without oil fueling Texas’ growth, it’s unlikely that home prices will continue to appreciate rapidly, and it’s very likely that home purchase demand will weaken. Given those considerations, a buy-and-hold strategy may suddenly be much more attractive."
April's survey showed the gap was also closing between renting and flipping among real estate investors (52.4 percent said they preferred flipping, compared to 55 percent in Q1) while percentage of investors working on behalf of another investor who preferred flipping held steady from Q1 to April at 66.3 percent.  Nearly three-quarters of investors making a one-time purchase said they intended to rent (74.3 percent in April, up from 66.9 percent in Q1).
According to April's survey, investors who bid on properties at live auctions were more likely to flip the properties they purchased – in fact, a majority of survey respondents in eight of nine states where Auction.com conducted live events indicated a preference for flipping over renting. The outlier in the group was Texas, where 52.4 percent of respondents preferred renting compared to 47.6 percent who preferred renting. The majority of investors in Arizona, California, Georgia, Idaho, North Carolina, Nevada, Tennessee, and Washington all preferred flipping, with North Carolina gaining the highest percentage at 78.6. The nationwide average for investors who intended to flip was 58.3 percent, compared to 41.7 percent who intended to rent.
“It will be interesting to see if this trend spreads to other states where energy-related jobs have generated economic gains, or whether we’ll begin to see a boom in home purchases stimulated by these lower energy prices across the country,” Sharga said.
Investors who purchased properties online, however, were more likely to rent, according to the survey. Nationwide, 54.5 percent of investors who bought properties via online auctions said they preferred renting compared to 43 percent who said they intended to flip. Renting was the preferred strategy in three of the four geographic regions – the majority of investors in the Midwest, South, and Northeast said they intended to rent, while flipping beat out renting by a slim margin (49.6 percent compared to 48.7 percent) in the West.
Click here to see a video of Rick Sharga discussing the April 2015 Real Estate Investor Activity Report.

Thursday, May 14, 2015

Mark Boud's presentation to the Gazarian Real Estate Center

Click on the following link to view Mark Boud's, President of Real Estate Economics, 42 minute presentation about the Central Valley's housing market.




Wednesday, May 13, 2015

Median Price of Home Listings Sold in Fresno & Clovis at a 12 Month High (Apr. 15)

The median price of SFR home listings sold in Fresno & Clovis increased by 9% from April 2014 to April 2015.   



If you have any questions on his information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot at 559-994-0254.

Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile
Web Site:  marootproperties.com 

Thursday, April 23, 2015

Median Price of SFR Home Listings Sold in Fresno & Clovis at a 12 Month High (Mar. 15)

The median price of SFR home listings sold in Fresno & Clovis increased by 4% from March 2014 to March 2015.   



If you have any questions on this information or want specific information on the Fresno/Clovis Real Estate housing market, please contact Greg Maroot at 559-994-0254.

Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Tuesday, April 21, 2015

Percentage of Traditional Home Listings Sold in Fresno & Clovis at a 12 Month High (Mar. 15)

The percentage of foreclosed SFR home listings sold in Fresno & Clovis decreased by 4% from March 2014 to March 2015.  The percentage of short sale SFR home listings sold in Fresno & Clovis decreased by 4% from March 2014 to March 2015.  The percentage of traditional SFR home listings sold in Fresno & Clovis increased by 9% from March 2014 to March 2015.



If you have any questions on this information or want specific information on the Fresno & Clovis Real Estate housing market, please contact Greg Maroot at 559-994-0254. 

Maroot Properties herein deemed this information is reliable but not guaranteed; representations are approximate, individual verification recommended. Real property transactions information listed above is limited to Fresno MLS listings and may exclude total number of real property transactions which occurred in the marketplace.

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com 

Friday, April 10, 2015

Gazarian Center Real Estate Sentiment Index Report - Spring 2015

Thank you to everyone that participated in the Gazarian Center Real Estate Sentiment Index Survey. Your participation is greatly appreciated!

Here are the results of the Spring 2015 survey.













Tuesday, April 7, 2015

Average Asking Rent Per-Unit of Multi-Family Apartment Properties in Fresno County is Up (March 2015)

The average asking rent per unit of Multi-Family Apartment Properties in Fresno County is up 8% from Quarter 1 of 2010 to Quarter 4 of 2014. 



If you have any questions on this information or want specific information on multi-family apartment properties in Fresno, Tulare, Kings, Madera and Merced Counties, please contact Greg Maroot of Maroot Properties Inc. at 559-994-0254.

 Maroot Properties warns this information not guaranteed & individual verification is recommended.  Real property transactions information listed in this graph is limited to Co-Star survey and does not include total number of real properties in the marketplace

Greg Maroot
Maroot Properties
Owner/Broker DRE #01102553
5067 N. Mariposa St., Ste. 102
Fresno, CA. 93710
(559) 840-0232 Work
(559) 994-0254 Mobile

Web Site:  marootproperties.com