Nationally and locally, rents continue to rise. After reading the linked article, click the "download full report" link for some great additional information to help your buyer clients and investors make some decisions. Overall, the western states are up. The closest market to us in the report is Sacramento with an 11.9% year-over-year increase in rental rates! As the cost of living goes up for renters, and as the Fed signaled last Wednesday, that interest rates are likely to push up in December, now might be the perfect time for buyers to get off the fence! Remember, for every 1% increase in the interest rate on a 30-year-mortgage, a buyer loses 10% of their purchasing power. Buying now also allows a buyer to lock in their monthly housing payments for the next 30 years.

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Patrick Conner
President
London Properties, Ltd.

This article is not intended to pass along to your clients, but rather to read, digest, and act on. As of 9-20-16, I would summarize our market in one word, Fireworks! Here's what I mean:

Picture yourself taking in an incredible fireworks show at a favorite spot. The show is unbelievable and you soon think, "Hmmm, this is probably about over." Then there's a slight pause that sets up the expectation for the finale and bam the finale is underway. This is analogous to our current market, so let's be mindful of "the pause" and take action! Our real estate market has been hot for over three years in a row; it's offered plenty of opportunity, but it feels like it's shifting. The key is to recognize and embrace it and then forge ahead while other agents and brokerages get stalled in "the pause." This article has some good ideas to help with your business, but the most important step will be to take action. Action leads to success in any market.

Let's go!

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Patrick Conner
President
London Properties, Ltd.

In addition to National headlines stating that our western region is experiencing a slow-down, here's a few more indicators (as reported by the Fresno MLS). After continuous monthly year over year increases in sales, July 2016 sales were down nearly 4% from last year. Inventory remains tight, but for the first time in recent years during our peak selling season, price appreciation appears to have cobbled. The average sales price in June topped 255,000, but then fell slightly to 253,000 for both July and August. These and other indicators are signaling that now could be the perfect time for sellers to cash-out.

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Patrick Conner
President
London Properties, Ltd.

This is important information to consider for you, your household, and your family. In addition to the attached article, here is another link (Click Here) to information on mosquito threats in California. The mosquito abatement departments in most counties will come to your home to spray and treat your yard for free. Here are the relevant numbers:
Fresno: (559) 268-6565
Kings: (559) 584-3326
Madera: (559) 662-8880
Merced: (209) 722-1527
Tulare: (559) 686-6628

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Patrick Conner
President
London Properties, Ltd.

Homeowners are feeling increasingly confident that now is a good time to sell a home, but renters are feeling uncertain they'll be able to afford to buy, according to the latest Zillow® Housing Confidence Index (ZHCI).

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