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Clovis Real Estate News
Archive for 2009
December 30th, 2009
Clovis Homes – 2009 Market Report
Clovis Homes 2009 Market Report
It’s been a topsy-turvy year in Clovis real estate. Clovis foreclosures and Clovis homes priced under $250,000 sold practically overnight, whereas homes $400,000 and above took months to sell (if they sold at all). Below is Clovis Real Estate’s Clovis Homes Annual Market Report for 2009. We suspect several Clovis home statistics may suprise you. Some even suprised us.
Clovis Homes Market Summary
The median Clovis home sold in 2009 looked like this:
- 3 bedroom 2 bath
- 1880 sq. ft.
- $239,900 (listing price)
- $238,000 (sales price)
- 47 days to sell
What was the most expensive Clovis home sold in 2009? A 6 bedroom, 7 bath, 9,195 sq. ft. Clovis luxury home that sold for $2.3 million. And what about the least expensive Clovis home sold in 2009? A 1 bedroom, 1 bath, 573 sq. ft. Clovis home that sold for $4,800.
Clovis Homes for Sale
The number of Clovis homes for sale compared to last year is up slightly. A year ago, there were 351 homes for sale in Clovis. Today, there are 371 Clovis homes for sale. How many Clovis homes will sell in 2010? If it’s anything like last year, it will be another banner year for Clovis home sales. A whopping 1335 Clovis homes were sold in 2009.
This is a bit of good news for both Clovis buyers and Clovis home sellers. There’s still an ample supply of Clovis homes for sale which means Clovis buyers are still in the driver’s seat and have plenty of Clovis homes to choose from. However, an average of 3.6 Clovis homes sold every day in 2009. In fact, if a Clovis home is priced well, it will sell – and very quickly. For example, 44% of Clovis homes sold within 30 days in 2009. That’s a positive sign if you’re thinking about selling your Clovis home. But if you don’t price your Clovis home correctly, your Clovis home will sit on the market and decrease in value very quickly. Overpriced Clovis homes don’t sell in any market, much less the current bargain-driven Clovis market.
Number of Days to Sell a Clovis Home in 2009
- 30 days or less: 44%
- 31 – 60 days: 19%
- 61 – 90 days: 11.75%
- 91 days + : 25%
Clovis Home Prices Drop in 2009
Not surprisingly, Clovis home prices have decreased 8.9% from a year ago, to a median Clovis home sales price of $238,000. 
It’s still too early to tell whether Clovis home prices have bottomed out. However, the worst appears to be behind us. Clovis home prices have increased month-to-month since early summer (e.g., prices increased 1.5% from September to October). Barring another collapse in the economy, we could see the first Clovis homes price gains in several years in mid-2010. Keep an eye on interest rates and the jobs report over the next several months, that data will go a long way in determining the status of the Clovis housing market.
Clovis Homes Sales Price – 2009 Month-by-Month 
Clovis Homes Selling Faster
Clovis homes are starting to sell faster. On average, 63% of Clovis homes sold within 60 days. Bargain-priced Clovis homes sold even faster. For example, most Clovis foreclosures sold in just a few days as buyers and investors swarmed over these bargain-priced homes. There’s no reason to suspect it will be any different in 2010.
2010 Clovis buyers can learn this from 2009 buyers: Clovis foreclosures and any Clovis home priced under $250,000 will typically receive multiple-offers (some as many as 15 to 20 offers). In fact, Clovis home buyers looking in this price range should expect to pay the asking price or slightly above the listing price since there are so many buyers in this price point. You can still get a bargain-priced Clovis home, just don’t expect to buy a Clovis home priced $250,000 for less for less than the asking price.
Clovis Homes in 2010
There are currently 371 Clovis homes for sale, including 878 Clovis homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The current average listing price for Clovis homes is $377,444.
If you would like to receive an automated email of all 2010 Clovis foreclosures, just fill out the form below. We’ll send you all current Clovis foreclosures and then automatically email you any new Clovis home that comes on the market so you can start your 2010 Clovis home search off right. You can also learn how to buy a Clovis foreclosure here or read our Clovis foreclosure tips (not every Clovis foreclosure is a good deal).
FREE List Clovis Foreclosures!
Clovis Homes Market Summary
Until Clovis home prices begin to increase again, it’s still a Clovis buyer’s market. Nothing indicates this will change in the first few months of 2010. Plus, banks are still holding onto a number of foreclosed Clovis homes and depending on when (and if) they release them, the Clovis real estate market will remain soft.
What does all of this mean to you? If you’re thinking of buying a Clovis home in 2010, low prices, great interest rates, and thousands of dollars in tax incentives still make this a great time to buy. If find a Clovis home you love and it’s well-priced, our advice is to buy. Clovis home prices and interest rates are expected to increase in 2010. So don’t wait too long and miss out on what some experts are calling the best time to buy a Clovis home in the past 20 years.
Selling your Clovis home is still a challenge, but if it’s priced right and marketed well there are plenty of Clovis buyers out there. The 1335 sold Clovis homes last year proves that.
If 2010 is the year you hope to sell or buy a Clovis home, let us know. We’ll help you reach your home goals.
Clovis Realtors
Real estate information is only good if you know how to use it to your advantage. At Clovis Real Estate we not only know the Clovis housing market data, we know how to make it work for you. Whether you’re buying or selling your Clovis home, let us help you get the best possible price on a Clovis home. We’re not just any Clovis Realtor, we’re Clovis Experts. Just fill out the form below and let us help you reach your Clovis housing goals.
December 29th, 2009
Quail Lake Foreclosures
FREE List of Quail Lake Homes!
Quail Lake has a number of Quail Lake homes for sale, including these 2 newly listed Quail Lake foreclosures. The first home is a 3 bedroom, 2 bath home with 1926 sq. ft. It’s located in Creekside and has a bargain price of $234,900. This Quail Lake foreclosure home is priced well below market and likely will sell very quickly. It’s a cute home and perfect for a first-time home buyer or someone looking to downsize and live at beautiful Quail Lake.
The second Quail Lake foreclosure is located on a quiet cul-de-sac, this 4 bedroom 3.5 bath home is 2157 sq. ft. and just steps away from the 2 mile walking trail around the lake. Inside you’ll find granite counter tops, upgraded kitchen cabinets, and other luxury features. This is a beautiful home and priced at only $280,000.
Quail Lake foreclosures don’t last long so if you’re interested in seeing either of these two fantastic buys, contact us today. Or click here to receive a FREE list of all current Quail Lake homes for sale.
Quail Lake Homes – Emailed Automatically!
Complete the form below and we’ll send you all of the current Quail Lake homes for sale and automatically email you any new Quail Lake homes the moment one comes on the MLS. Be the first to know when the next bargain-priced Quail Lake home comes on the market!
Sign-Up for Your FREE List of Quail Lake Homes!
Quail Lake Community
You can learn more about beautiful Quail Lake here or read about Quail Lake community events here.
Clovis Real Estate – Quail Lake Home Specialists
December 28th, 2009
Clovis Mortgages and Home Financing
Interest Rates Predicted to Reach 6%
It’s a great time to buy a Clovis, CA home. The medium home price of Clovis homes for sale is less than $250,000. Better yet, low Clovis interest rates make Clovis homes more affordable than ever. At least for now. According to many leading mortgage experts, low mortgages and affordable housing payments are about to go up dramatically.
According to the Wall Street Journal, the average 30-year fixed mortgage is 5.05%. Soon these historically low rates will begin creeping up, according to Greg McBride, chief economist at Bankrate. Echoing this steady increase in mortgage rates is Fraddie Mac leading economist, Amy Crew Cutts, who predicts interest rates will hit 6% by the end of 2010.
An increase in Clovis mortgage rates means Clovis homes will become less affordable and mortgage payments will skyrocket in the new year for Clovis home buyers. For example, a $300,000 Clovis home with a 6% interest rate is nearly $200 more a month than buying the same Clovis house today when rates are only at 5%.
In other words, low interest rates are just as important to consider when buying a Clovis home as the price of the home itself. Unfortunately, even Clovis home prices are expected to go up in 2010. According to the California Association of Realtors, California home prices will increase 3% in 2010.
Clovis Mortgage Rates
What are the signs that morgtage rates are about to go up? Mark Roth of BusinesWeek.com offers several tips of when interest rates are about to rise:
- Read the minutes of the Federal Reserve. The Federal Reserve will comment on its policy and whether inflation or a weaker economy is the greater risk. Rates tend to rise when inflation becomes more of a risk to the economy.
- Declining Unemployment. The unemployment rate is at 9.8%. If more Americans find jobs, an increase in interest rates is likely.
- Rising Discount Rate: The rate the Fed charges banks that borrow from it directly stands at .5%. If it rises, or the spread between it and the Federal Funds Rate widens, then mortgage rate increases won’t be far behind.
Clovis Mortgage Help
We don’t recommend anyone attempt trying to time the Clovis housing market or mortgage rates. No one can do that. What you can do, however, is lock in some of the best Clovis home prices and mortgage rates in history.
As the chart above indicates (click on it to make it larger), these rates won’t last forever. Why not take advantage of low mortgage rates now? Whether you’re new to mortgages or an old pro, Mortgage Planner, Kathy Tuck, can help you get the mortgage you need to buy your next home. Kathy can:
- Get you pre-approved for a home loan (the 1st step in buying a home). Get started NOW!
- Discuss the latest loan programs and lowest Clovis mortgage rates available.
- Answer all of your home Clovis mortgage or financing questions.
Kathy Tuck
iMortgage, Mortgage Planner
(559) 284-4020 (cell)
(866) 933-7856 (fax)
[email protected]
Clovis Realtors
If you’re thinking about selling or buying a Clovis, CA home let us know. At Clovis Real Estate we’re Clovis Realtors who specialize in Clovis homes. Browse through our website where you can search all Clovis homes for sale and find a wealth of information on selling or buying a Clovis home. Why not become a client today and let the Clovis Experts help you buy your next Clovis home?
December 27th, 2009
Luxury Quail Lake Home
FREE List of Quail Lake Homes!
Quail Lake is a luxury community located just outside the main city in Clovis, CA. There are a number of custom Quail Lake homes for sale, including this newly listed Quail Lake luxury home. Located on a quiet cul-de-sac, this stunning 4 bedroom 3.5 bath home is 4288 sq. ft. and offers breathtaking views of the lake. Inside you’ll find every luxury feature imaginable. Lakefront Quail Lake homes don’t last long so if you’re interested in seeing this fantastic property (priced at $1,089,000), contact us today. Or click here to receive a list of all current Quail Lake homes for sale.
- To learn more about Quail Lake click here or read about Quail Lake community events here.
Quail Lake Homes
If you would like to receive Quail Lake listings as soon as a Quail Lake home comes on the market, just complete the form below. We’ll then send you all of the current Quail Lake homes for sale and automatically email you any new Quail Lake homes the moment one comes on the MLS.
Quail Lake Homes For Sale
Clovis Luxury Homes
If you’re looking for a luxury Clovis home, let us unlock the door to spectacular Clovis properties, exclusive estates, and the finest luxury homes in Clovis. We showcase the areas finest real estate. Whether you’re looking for a waterfront home, golf course estate, or a Sierra chalet, let us assist you in your search. For a FREE list of Clovis Luxury Homes, just fill out the form below and a list of luxury Clovis homes automatically will be emailed to you.
Instant List of Luxury Clovis Homes
Luxury Clovis Real Estate
At Clovis Real Estate, we specialize in high-end, luxury Clovis real estate. And as Clovis Realtors, we can tell you just about everything there is to know about Quail Lake and other luxury homes in Clovis. Contact us with any questions and discover what a luxury real estate company can do for you. If you don’t see a home you’re looking for, just give us a call and we’ll be happy to find a luxury home that’s right for you, whether it’s currently on the market or not.
Clovis Real Estate – Quail Lake | Luxury Home Specialists
December 26th, 2009
Quail Lake Foreclosure
FREE List of Quail Lake Homes!
Quail Lake has a number of Quail Lake homes for sale, including this newly listed Quail Lake foreclosure. Located on a quiet cul-de-sac, this 4 bedroom 3.5 bath home is 2157 sq. ft. and just steps away from the 2 mile walking trail around the lake. Inside you’ll find granite counter tops, upgraded kitchen cabinets, and other luxury features. This is a beautiful home! Quail Lake foreclosures don’t last long so if you’re interested in seeing this fantastic buy (priced at $280,000), contact us today. Or click here to receive a FREE list of all current Quail Lake homes for sale.
Quail Lake Homes – See them First!
You can receive Quail Lake listings as soon as a Quail Lake home comes on the market. Just complete the form below and we’ll send you all of the current Quail Lake homes for sale and automatically email you any new Quail Lake homes the moment one comes on the MLS. So sign up below and be the first to know when the next dream Quail Lake home comes on the market!
Sign-Up for Your FREE List of Quail Lake Homes!
Quail Lake Community
To learn more about Quail Lake click here or read about Quail Lake community events here.
Clovis Real Estate – Quail Lake Home Specialists
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