FRESNO - Home sales in the Central Valley have increased sharply due to low interest rates and attractive pricing. For example, I cite the case of Paul Gestic who recently moved to Fresno from the Bay Area. Paul was looking to invest his recent windfall from the sale of another property in Richmond, CA. He noticed early on that the real estate market pricing in Fresno-Clovis was climbing into the stratosphere.
     Moving quickly to capitalize on the market, Gestic closed escrow on an ideal buy for $180,000 cash. It was a run-down 10-plex apartment house in Fresno's Tower District. By leveraging the profits from the sale in Richmond, he cleared $187,000 on the transaction. That's a great return on anyone's investment in less than one year.
     Gestic is not the only one who has noticed this, the possibilities are everywhere. Home sellers are taking their equity and reinvesting it after years of saving and waiting for the market to get hot. Home pricing in Fresno and Clovis is attracting the attention of people from L.A. and the Bay Area.
     "Low interest rates are driving up sales, and there's a sudden shortage of income properties on the market," says Gestic. "The market is being fueled by owners selling pricey real estate in the Bay Area. The market in Fresno is heating up as a consequence," he said.
     Paul Gestic is a primary Realtor with Fresno Income Properties under the Larry Hawkins Real Estate firm at 7600 N. Ingram, Suite 101 in northwest Fresno near Nees and Ingram avenues, call (559) 438-9410 for more information. When I last spoke with him today business is booming.

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