Tuesday, April 22, 2014

Deli Delicious franchise expands to Sacramento area

Source: The Business Journal
Written by: Chuck Harvey

 Fresno’s Deli Delicious sandwich shop has come a long way since opening its first shop at Bullard and Blackstone avenues in 1996. The franchise now has 20 stores, including its latest location in Citrus Heights near Sacramento, which has nothing, but rave reviews on Yelp. Great customer service and fresh ingredients are the most common reviews. And, it’s not stopping there. The maker of hot, cold and specialty subs is continuing its Sacramento area expansion with a planned Roseville location. Locally, the restaurants can be found in Fresno, Visalia and Madera. One of the newest locations is at 2380 W. Cleveland Ave. in Madera. About 60 percent of the franchisees are owner-operators. And about 40 percent are investors. As Deli Delicious grew, so did its lineup of submarine sandwiches. It now has 47 subs on its menu from ham and salami to blue buffalo chicken. It also makes hamburgers, fries, salads and soups. Along with a big selection of subs, Deli Delicious president Mohammad Hobab wanted to offer an upscale, but relaxed deli experience. And he insisted on using the best possible ingredients in his subs. Deli Delicious continues to make improvements to its menu presentation and offerings, store design and the level of service it provides to its customers. “Our products are the highest quality meats and cheeses, sliced in our restaurants,” said Ali Nekumanesh, advisor for Deli Delicious. Hobab came to the U.S. from Iran where he worked as a banker. He was initially educated as an engineer. But after arriving in America, Hobab saw opportunity in offering quality subs to sandwich lovers. Although Deli Delicious was not an overnight success, Hobab and his team remained committed and succeeded as a popular local restaurant. It has also been a family affair from the start. Starting out making sandwiches and sweeping the floor, son Hadi is now chief operating officer and son Hesam is chief financial officer. Deli Delicious is also in a crowded space, having to compete against Subway and Quiznos, the giants of the submarine sandwich industry. Hobab was determined to keep his business growing through superior service and attention to detail. “It took years and many struggles to get it going,” Nekumanesh said. Once Hobab’s restaurant became popular, he began plans to offer franchises to entrepreneurs in the greater Fresno area and around Sacramento. The company plans to move its franchises into nearby states following its effort to penetrate the greater Sacramento area. “In fact, our general plan calls for us to be the largest regional premium deli restaurant by the year 2019,” Nekumanesh said. He said one Sacramento franchise has opened and another that will feature Deli Delicious and a Colorado Grill restaurant in the same location will open in late April or early May. Jasdeep Rhawanda and Arvin Tanu, both of Fresno, are partners in the first Sacramento Deli Delicious restaurant. It has been open for nearly three months. “We’ve had good response,” Rhawanda said, adding that he will be relocating to Sacramento. He is a business major at Fresno State and will graduate this summer. Bill Schwartz, owner of Geno’s Sandwiches & Salads in Fresno, said that it helps franchisees when a company like Deli Delicious provides direction and equipment. “They’ve got the hang of it with a program that can be carried out,” Schwartz said. Schwartz said he received help when he started Geno’s Sandwiches & Salads 34 years ago. He took over an existing business at 1615 E. Ashlan Ave. that already had a following. “It makes it a lot easier,” Schwartz said. In developing plans for franchises, Deli Delicious decided on two restaurant models. One is the express model and the other, the standard model. The express model is designed for serving food in smaller or non-traditional locations like hotels and airports. It can be as small as 450 square feet depending on location. The standard model is a larger shop spanning about 1,300 square feet and ideally suited for malls other popular retail locations. Deli Delicious offers help with site selection. Training is provided to bring the new franchise owner up to speed on how to run a Deli Delicious restaurant. It includes 14 days of classroom and hands-on training. “We strive to ensure our franchisees are good operators and become better and more informed business people through the ongoing training and development seminars offered to our franchisees and their staff,” Nekumanesh said. He added that Deli Delicious is supported by a group of restaurant professionals, including sales, operations and training teams. “The cost of entry is affordable and the return on investment has thus far been generally quite favorable,” Nekumanesh said. To be a franchise owner, an investment of $100,600 to $187,800 is necessary for the express model and $190,350 to $359,150. The estimated investment includes three months of working capital. Franchise owners pay a franchise fee of $15,000 for the express model and $20,000 for the standard model. Besides providing tasty sandwiches, Deli Delicious places importance on providing healthy ingredients. “Our research and development team is consistently working to stay on top of the healthy foods trend and adjusting the menu as is necessary,” Nekumanesh said.

 URL to original article: http://www.thebusinessjournal.com/news/retail/11652-deli-delicious-franchise-expands-to-sacramento-area 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

Friday, April 18, 2014

Plays of the Week

1. There are numerous benefits for your seller to negotiate an in-house sale on their peorpty that we need to slow down and get it right. • First, you’ll want to do a delayed MLS listing (15 days) and strongly promote the property to your London Peers. • Next, get your peers’ opinion on the initial list price and make any necessary adjustments before the property hits the MLS. • Afford your sellers the first 15 days to make appropriate repairs, de-clutter and clean. • Here’s the Biggie – An in-house deal can assure your seller that they get a fully executed General Contract Addendum (GCA) by the buyer. A buyer signed GCA significantly reduces any chance of a meritless claim or legal action against your seller after the closing. This is specifically what our sellers are hiring us to do. Protect their best interest and keep them from harm’s way. • An added bonus is that you get to work with one of your Professional peers, the deal will likely have a higher chance of closing and you may get paid a higher in-house commission split. • Take care of your sellers!

2. On Tuesday, Lynette Baker took her sweet little Mikayla to the doctor to get her broken arm set and a cast put on (Mikayla chose hot-pink for her cast color). Lynette struck up a conversation with the Doctor and worked in the fact she helps people buy and sell homes for her profession and wouldn’t you know it, the Doctor is thinking of selling their large home and scaling down. One great lead down for the day, Lynette later calls a past client (a Financial Planner) who has sent her referrals in the past. This person tells Lynette how great it is to hear from her and that her secretary is moving out of the area and needs to sell her house! It pays to make conversation and to call on your database. Great Job Lynette!

3. Anytime you’re at an event or in public, there is business all around you, you just have to look and listen for it. Gracelyn Martinez was somewhere with one of her kids this week and saw a buyer prospect that she hadn’t talked to in months (they were particular and had stopped house hunting). While talking, Gracelyn thought of the perfect property for her (a formerly unrealistic seller whose property has now appreciated). The next day she called that to-be seller who had just decided to re-enter the market. Gracelyn showed the buyer the property and has now negotiated an accepted deal. Awesome!

Take these plays with you and good luck this weekend!

Thursday, April 17, 2014

Report: Fresno in top 10 for home price jump

Source: The Business Journal

 The Fresno metropolitan area had some of the highest home price and inventory increases in the country, according to a report by Realtor.com. The National Housing Trend Report for March 2014 showed the median list price of a home increased 5.3 percent in March over the year before, going from $189,800 to $199,000. Out of 146 metros evaluated in the report, the Fresno metro had the eighth highest increase in the country. Prices increased 17.4 percent in the area over the last year from a median price of $195,800 to $229,900. That's behind metros like Houston growing 18.5 percent, Denver at 20.1 percent and No. 1 Stockton-Lodi at 38.9 percent. Housing inventory also grew over the year before, rising 9.5 percent nationwide to 1,841,844 homes listed on Realtor.com. Going from 1,946 homes listed on the website in March 2013, the Fresno area has since climbed to 3,049 listings in the latest month. That's an increase of 56.7 percent, just sixth behind Nashville, Tenn. (56.8 percent), Orlando, Fla. (56.8 percent), Bakersfield (57.3 percent), Orange County (63.5 percent) and Stockton-Lodi (68.6 percent). The median age of inventory increased 22.9 percent across the country over the last year with homes now 102 days on the market on average. In the Fresno metro, the increase in inventory meant homes spent an average of 61 days on the market in March. That's up 45.2 percent from a year ago, 12th behind areas like Springfield, Ill. increasing by 57.3 percent, Stockton-Lodi by 60 percent, Oakland, Calif. by 80 percent and Rochester, N.Y. growing the most by 98.4 percent. According to Realtor.com, a real estate listing service offered by Move, Inc., home sales activity remains sluggish but added inventory may mean more affordable prices in many markets for the first-time and move-up homebuyers alike. "Bidding wars in many markets last year frequently elevated offer prices beyond the reach of first-time buyers who could scarcely save for the down payment," said Steve Berkowitz, CEO of Move, in a release. "While inventory is still low, the continuing annual lift in the number of homes on the market that we've seen over the first months of 2014 is an indicator that buying conditions this year may be notable improved from the frenzied pace of last spring."

 URL to original article: http://www.thebusinessjournal.com/news/real-estate/11623-report-in-top-10-for-home-price-jump 

 For further information on Fresno Real Estate check: http://www.londonproperties.com 

Walmart growing big, growing small in Fresno

Source: The Business Journal
Written by Chuck Harvey

Walmart believes a 107,000 square-foot former Mervyn’s location is a good fit for a Fresno supercenter as it kicks off a multimillion-dollar project to refurbish the interior of the store located at Ashlan and Blackstone avenues for a summer opening. The retail giant, now building smaller neighborhood stores as well, also likes the 41,000 square-foot size of the former Cedar Lanes bowling alley that it is refurbishing at the intersection of Shields and Cedar avenues in Fresno. Walmart expects good support for a supercenter and the smaller neighborhood Walmart market scheduled to open in 2015. One of the reasons it is downsizing some stores is the growth in e-commerce sales. Shoppers can order items online and pick them up at their nearest Walmart store. Still, Walmart plans to continue building supercenters that range from 100,000 square feet to 180,000 square feet. The bigger stores will be built in locations where vehicle and shopper numbers are high. One concern with the Ashlan and Blackstone location is an adequate number of parking spaces. Walmart shares the parking lot with other tenants in the shopping center. However, Steve Rontell, broker with Colliers International in Fresno, said the other tenants, including a furniture store and Petco store, are not heavy users of the lot. Also, an El Pollo Loco restaurant at Ashlan and Blackstone avenues has its own parking area, Rontell said. In addition, the new Walmart will have parking in the rear of the store for employees, said Rontell, who represented the landlord in the lease transaction. “We believe there is sufficient parking to serve our customers,” said Delia Garcia, director of communications for Walmart. The supercenter will employ approximately 250 workers on a full and part time basis. Average hourly pay is $13.08. Garcia said hourly employees would have the opportunity to work toward higher-paying management positions. A hiring center will open near the Ashlan and Blackstone avenues location in early summer, Walmart reported. Rontell said the deal with Walmart has been in the works for years. He said Walmart officials wanted to make sure the new store was not too close to other Walmart stores. Also, it had to pencil out in terms of attracting shoppers and potential sales. Smaller stores inquired about the space, but it was hoped the store would not have to be split up. “So Walmart was a good fit,” Rontell said. The Ochinero family of Fresno leased the Ashlan and Blackstone avenues property to Walmart. City officials were also pleased that Walmart decided to lease the space. “I’m so happy that Walmart picked Central Fresno,” said Clinton Olivier, city councilman for the 7th district. “I only see benefits.” Olivier said he is also glad Walmart is building a neighborhood store at Shields and Cedar avenues. Olivier added that in campaigning for reelection, he has not found any opposition to the stores. “I knock on doors and not one person has told me I am disappointed that Walmart is coming.” However, he pointed out that Walmart did not face public comment at a public hearing. Because Walmart is moving into an existing retail building, neither a hearing nor a permit from the city council or planning commission is required for the refurbishing projects. Still, the work is seen as a big improvement, considering the Mervyn’s store has been vacant for more than five years. “We welcome this private investment along the city’s major north-south commercial corridor,” said Ashley Swearengin, mayor of Fresno, in a release. “Projects like these, coupled with the city’s vision for improving Blackstone Avenue with public infrastructure will help give new life to this critical commercial corridor.” Some sprucing up at the location is also expected to discourage prostitution, gangs, crime and graffiti — all cited as problems in the area. Most of the work and expense in upgrading the Mervyn’s building has been in installing cold cases for perishable groceries, Garcia said. She said the exterior of the building would remain mostly the same, but would include new signage and decoration. Reeve-Knight Construction of Roseville is doing the refurbishing work. Along with food, the supercenter will carry value-priced general merchandise including apparel, electronics, toys and sporting goods. Food offerings include organic selections, fresh dairy and meat departments and fruits and vegetables. The store also features a pharmacy. “It will be one-stop shopping,” Garcia said. The Walmart Neighborhood Market at Shields and Cedar avenues will offer a full supermarket line of groceries along with some household products, pet supplies and pharmacy services. Fresno’s first neighborhood market opened near Herndon and Willow avenues in May 2013, followed by a Clovis location near Clovis and Shaw avenues in September 2013. Visalia received the Valley’s first neighborhood market in March 2013. Each store typically employs about 65 people. Garcia added that supercenters also have a positive impact on the community. They help to revitalize the area and bring back local shoppers, Garcia said. Also, businesses tend to invest in new stores once a strong anchor store is in place, she said. --- Walmart expansion in the Central Valley From large to small-format stores, Walmart has been on an aggressive growth path in the last year. 2015 Projected opening, new Fresno neighborhood market (3131 N. Cedar Ave.) Summer 2014 Projected opening, Fresno supercenter (4150 N. Blackstone Ave.) September 2013 Clovis neighborhood market opens. (1830 Shaw Ave.) August 2013 Kerman supercenter opens (4061 W. Whitesbridge Ave.) May 2013 Fresno’s first neighborhood market opens March 2013 Clovis supercenter opens (323 W. Shaw Ave.) March 2013 Visalia neighborhood market opens (1320 N Demaree St.)

URL to original article: http://www.thebusinessjournal.com/news/retail/11597-walmart-growing-big-growing-small-in-fresno 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

Monday, March 31, 2014

CoreLogic: Valley foreclosure rates remain low

Source: The Business Journal

Foreclosure rates in Fresno decreased for the month of January over the same period last year, according to newly released data from CoreLogic, a property information, analytics and services provider in the United States and Australia. The CoreLogic data shows that the rate of Fresno area foreclosures among outstanding mortgage loans was 0.93 percent for the month of January, a decrease of 0.57 percentage points compared to January of 2013 when the rate was 1.50 percent. Foreclosure activity in Fresno was lower than the national foreclosure rate, which was 1.97 percent for January 2014. Also in Fresno, the mortgage delinquency rate decreased. According to CoreLogic data for January, 3.58 percent of mortgage loans were 90 days or more delinquent compared to 5.48 percent for the same period last year, representing a decrease of 1.90 percentage points.

Madera
Foreclosure rates in Madera also decreased for the month of January over the same period last year, according to CoreLogic. The CoreLogic data reveals that the rate of Madera area foreclosures among outstanding mortgage loans was 0.97 percent for January, a decrease of 0.72 percentage points compared to January of 2013 when the rate was 1.69 percent. Also in Madera, the mortgage delinquency rate decreased. According to CoreLogic data for January, 4 percent of mortgage loans were 90 days or more delinquent compared to 5.83 percent for the same period last year, representing a decrease of 1.83 percentage points.

Visalia-Porterville
 Foreclosure rates in Visalia-Porterville decreased for the month of January over the same period last year. The CoreLogic data reveals that the rate of Visalia-Porterville area foreclosures among outstanding mortgage loans was 0.94 percent for the month of January, a decrease of 0.63 percentage points compared to January of 2013 when the rate was 1.57 percent. Also in Visalia-Porterville, the mortgage delinquency rate decreased. According to CoreLogic data for January, 3.83 percent of mortgage loans were 90 days or more delinquent compared to 5.53 percent for the same period last year, representing a decrease of 1.70 percentage points.

Hanford-Corcoran
Foreclosure rates in Hanford-Corcoran decreased for the month of January over the same period last year. The CoreLogic data reveals that the rate of Hanford-Corcoran area foreclosures among outstanding mortgage loans was 0.94 percent for January, a decrease of 0.87 percentage points compared to January of 2013 when the rate was 1.81 percent. Also in Hanford-Corcoran, the mortgage delinquency rate decreased. According to CoreLogic data for January, 4.38 percent of mortgage loans were 90 days or more delinquent compared to 6.32 percent for the same period last year, representing a decrease of 1.94 percentage points.

URL to original article: http://thebusinessjournal.com/news/real-estate/11368-corelogic-valley-foreclosure-rates-remain-low 

For further information on Fresno Real Estate check: http://www.londonproperties.com

Thursday, March 27, 2014

Apartment rehab spruces up Fresno’s ‘Sin City’

Source: The Business Journal
By Chuck Harvey

Rehabilitation of the San Ramon Apartments signals a step forward in Fresno’s goal of transforming the El Dorado Park neighborhood into a vibrant and safe community, shedding the old “Sin City” moniker. Zumwalt Construction Inc. has finished upgrading the San Ramon Apartments within El Dorado Park near Bulldog Stadium. Apartment renters at San Ramon that had to move out during construction were scheduled to come back last week. The Fresno Housing Authority, which runs the complex, will hold off on a grand opening until the tenants have a chance to settle back in. Renters will see some major improvements, including new site work, landscaping, courtyard, roofing, railing, windows, French doors, flooring, paint and light fixtures. New carports and a laundry room have also been built, along with wrought iron security fencing and security lighting. And it was all done in a four-month period. Total development cost for the 32-unit project is $4.2 million, with $3 million from City of Fresno Neighborhood Stabilization Program and $1.2 million from Fresno Housing Authority. The improved apartments stand out from existing apartments on the street that may not see a rehab for some time. However, Zumwalt Construction and the city see it as a good first-step in sprucing up the area and addressing safety concerns. Brandi Johnson, communication manager for the Fresno Housing Authority, said the improved section of apartments is encouraging other apartment owners to throw on some fresh paint and do minor renovations of their own. It could also help property values in the area, she said. She said no further Housing Authority projects are currently planned for El Dorado Park, has rehabilitation of rental housing going on in various parts of the county. Zumwalt Construction specializes in rehabilitation. The builder wants to erase the negative image the El Dorado Park area had developed. “Zumwalt Construction Inc. specializes in multi-family rehabilitation projects and anticipates doing additional projects within this category of construction,” said Kurt Zumwalt, president of Zumwalt Construction. “Presently we are rehabilitating 123 units in Mendota for the Fresno Housing Authority.” The Mendota housing rehabilitation is taking place at Mendota Apartments at 778 Quince St., Rios Terrace at 424 Derrick Ave. and Rios Terrace II at 111 Straw St. Zumwalt said demand has picked up for low-cost apartment projects, including rehabilitation work. He said the need is strong to catch up on deferred maintenance and refurbishment for multi-family housing. Besides improving aesthetics, firms like Zumwalt Construction bring the housing up to building and safety codes. Asked what tenants are looking for in refurbished apartments, Zumwalt said the big things are a safe environment for their families and affordable rent. The challenge at San Ramon Apartments was to rehabilitate 32 public housing units to current market standards. The architect for project was R.L. Davidson Inc. of Fresno. The City of Fresno was anxious to see improvements. The entire El Dorado Park neighborhood covers 30 acres and is dominated by multi-family apartments. According to the El Dorado Neighborhood Plan, the development was first constructed as affordable housing for Fresno State students. However it has deteriorated over the past 15-20 years. In 2011, police found several weapons and drugs while serving a search warrant for an alleged gang operation at a San Ramon apartment in El Dorado Park. And the incident wasn’t isolated. The neighborhood is often referred to as Sin City — a name community members are anxious to see slip from Fresno’s memory. Lorrae Emory, office manager for Westley United Methodist Church near El Dorado Park, said a variety of community partners are striving to change things. “The residents continue to work hard learning new tools and techniques to make their neighborhood safer, stronger and healthier,” she said in an email. While Sin City could describe an area with a reputation for crime, Emory said the actually name comes from the partying indulged by the Fresno State students and faculty who lived there more than 20 years ago. Funding for the San Ramon Apartments project was provided through low-income housing tax credit equity currently being used in Fresno County. Goals set forth in the neighborhood plan include setting strategies for a safe, crime-free environment, encouraging some neighborhood commercial projects, improving or replacing substandard housing, preserving and expanding housing opportunities for existing families and new residents and creating a central open space area along with private gardens and courtyards. The plan also calls for closer ties with Fresno State. In 2013, the Fresno Housing Authority received $60 million in tax credit equity for rehabilitation projects. The authority has begun efforts to rehabilitate 400 public housing units in Fresno, Mendota and Orange Cove. Plans also include constructing community centers with computer labs, kitchens and offices. In 2013, the Department of Housing and Urban Development selected Fresno Housing Authority to be part of its Rental Assistance Demonstration program that allows the authority to use private sector funs as well as equity in current developments to pay for affordable housing building improvements. The authority estimates that the cost of needed improvements in the area has soared to more than $100 million.

URL to original article: http://www.thebusinessjournal.com/news/construction/11344-apartment-rehab-spruces-up-fresno-s-sin-city 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

McCaffrey Homes earns six homeowner awards

Source: The Business Journal

 McCaffrey Homes of Fresno was named the winner of six 2014 Eliant Homebuyer's Choice Awards for customer satisfaction in their houses. The annual awards are based on consumer feedback from more than 76,500 surveys of recent home owners from 148 major homebuilders across the U.S. and Canada. McCaffrey Homes was honored in six of the seven possible categories.The third-generation, family-owned builder received two first place awards for purchase experience and construction experience. The firm was also awarded two third place awards for overall first-year quality and overall home purchase and ownership experience, plus two honorable mentions for first-year customer service experience and highest percentage of sales from referrals. Building exclusively in the Fresno and Clovis market for the past 35 years, McCaffrey Homes has completed more than 8,000 home in the area. The company is currently building three communities in the Fresno and Clovis area, including The Heights at Loma Vista, The Gallery in Clovis and The Heights on Copper. More information about these communities and the company can be found at www.mccaffreyhomes.com.

URL to original article: http://www.thebusinessjournal.com/news/construction/11336-mccaffrey-homes-earns-six-homeowner-awards 

For further information on Fresno Real Estate check: http://www.londonproperties.com

Wednesday, March 26, 2014

Distressed sales still high in parts of the Valley

Source: The Business Journal

The California Association of Realtors reports that the combined share of all distressed property sales in California was down in February. However, with the exception of Tulare County, distressed sales remained fairly high in three other counties of the central San Joaquin Valley during the first two months of this year. Statewide, the share of distressed property sales, which involve any property whose owner is in default on the mortgage, dipped from 15.6 percent in January to 15 percent in February. Distressed sales continued to be down by more than a half from a year ago, when the share was 33.3 percent. More than half of the 38 reported counties showed a month-to-month decrease in the share of distressed sales, with San Diego and San Francisco Bay Area counties registering the smallest share. In the Central Valley, distressed sales were generally down or holding fairly steady, except in Madera County where the percentage doubled month over month. In Fresno County, the number of distressed sales was 29 percent of total sales in February, compared to 26 percent in January and 44 percent in February 2013. In Kings County, distressed sales were 36 percent of total sales in February, compared to 45 percent in January and 41 percent in February 2013. In Madera County, distressed sales hit 30 percent of all sales in February, compared to 15 percent in January and 53 percent in February 2013. In Tulare County, distressed sales were 18 percent of total sales in February, compared to 20 percent in January and 49 percent in February 2013. Other statewide figures: * The share of REO sales increased in February to 6.3 percent, up from 5.9 percent in January. REOs made up 13.2 percent of all sales in February 2013. * February saw a slight increase in active listings across all property types, especially in equity properties, which helped to improve housing supply conditions. The Unsold Inventory Index for equity sales crept up from 4.4 months in January to 4.8 months in February. The supply of REOs dipped from 3.2 months in January to 3 months in February and the supply of short sales increased from 4.6 months in January to 5 months in February.

 URL to original article: http://www.thebusinessjournal.com/news/real-estate/11310-distressed-sales-still-high-in-parts-of-the-valley 

 For further information on Fresno Real Estate check: http://www.londonproperties.com

Monday, March 24, 2014

Plays of the Week

1. Amy Medeiros (London’s Hanford Office) can give plenty of testimony that it pays to give great customer service. Amy received two referrals recently from clients which resulted in three properties going into escrow this week, for a total of $740,000 in volume. The kicker is that all three properties went into escrow while she was taking care of her young grandchildren.

2. Joe Castillo (Sanger) continues to reap the benefits that come from his calls, notes, and pop-bys. Joe reconnected with dozens of people in his database towards the end of 2013. One past client whom he took to lunch has now sent Joe four referrals in only three months! The forth one which came this week was a buyer that Joe put into his own listing earning him both sides of the transaction. Let’s take Joe’s lead and keep working our lists of relationships!

3. We always say to take advantage of showing up to social events. Cameron Pryor was at a Rotary event recently and started talking to someone about real estate (of course!). The next day he followed up with a personal note that happened to have two tickets in it to the home and garden show. That conversation and note are now leading to two listings and a registration for a full referral fee on a new $250k-$300k new home construction purchase.

Thursday, March 13, 2014

Parlier receives $3.7M for new rental housing

Source: The Business Journal

The Department of Housing and Community Development has announced awards totaling $17.4 million to be used for multi-family construction and rehabilitation in the counties of Fresno, Solano, Sutter and Tuolumne. In Fresno County, the City of Parlier received $3.7 million for the construction of new rental properties within Parlier’s Avila Avenue Apartments II. Amenities include a community room, computer-learning center, laundry room, exercise room, tot lot and picnic-barbeque area. “This funding is critical for creating and maintaining affordable housing while providing housing opportunities for Californians,” said Acting Director Randall A. Deems in a release. This award is part of $22.9 million awarded by the federal HOME program to private non-profit organizations and local governments totaling five awardees. Funds from program have been made available to the state every year since 1992. Large municipalities receive HOME funding directly from the federal government and the Department of Housing and Community Development receives a block grant of HOME funds to award competitively to smaller communities. The main objective of the HOME program is to create and retain affordable housing in rural areas of California.

 URL to original article: http://thebusinessjournal.com/news/construction/11156-parlier-receives-3-7m-for-new-rental-housing 

For further information on Fresno Real Estate check: http://www.londonproperties.com