Welcome to the Hanford Insider!
Aug. 26, 2024

Hanford Insider: Housing Market Trends, City Council News, and Event Spotlight

Hanford Insider: Housing Market Trends, City Council News, and Event Spotlight

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Curious about how Hanford's latest city council decisions are shaping the community? Join us as we cover key updates, including why the Downtown Traffic and Pedestrian Improvement Project is on hold and what you need to know about the upcoming November 5th elections. We'll also give you the scoop on Measure H and highlight some must-attend educational events. Plus, our community calendar is brimming with activities like the Thursday Night Marketplace and performances by Kings Players.

Meet Thomas Curtis, your local real estate guide, as he shares his experiences in Hanford's housing market. Discover how the city's family-friendly atmosphere, low crime rates, and affordable housing are drawing new residents. We’ll break down the current real estate trends, touch on the ins and outs of house flipping, and explore the rising Airbnb market that caters to everyone from nurses and military families to tourists visiting local attractions like the surf ranch.

Planning on renting out your property? Learn from our discussion on midterm to long-term Airbnb rentals in Kings County. Hear firsthand experiences of hosting diverse tenants, from professionals like doctors to a singer from American Idol. We'll also discuss the broader real estate landscape, including the nationwide housing shortage, low inventory, and the implications of low mortgage interest rates. Lastly, stay tuned for insights into future trends and how national elections could impact the market. Don't forget to check out our website for ways to support and engage with the Hanford Insider podcast.

You can find the Hanford Insider at www.hanfordinsider.com and on social media at @hanfordinsider
Thank you for supporting the show!

Chapters

00:00 - Hanford Insider Real Estate Update

12:41 - Hanford Real Estate Trends and Airbnbs

18:27 - Real Estate Market Forecast and Trends

31:18 - Hanford Insider Support and Updates

Transcript
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00:00:00.881 --> 00:00:10.054
On this week's episode of the Insider, rob will update us on some significant decisions made by the Hanford City Council, plus a check on the very busy fall calendar.

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Then Thomas Curtis stops by to talk about the local real estate market and I'll be back with highlights and scores from Week 1 of the high school football season.

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This is the Hanford Insider for Monday, august 26th.

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Hey everybody, welcome to this episode of the Hanford Insider.

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I'm your host, rob Bentley.

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Thanks for listening.

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For those of you who are new to the show, the Hanford Insider is a weekly podcast that releases every Monday.

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I cover a little bit of everything from Hanford news, a community calendar, and my son, eric, who works in sports, gives us a rundown of high school sports each week during the school year.

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I try to keep things light and positive in such a negative world.

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I hope you enjoy the format.

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I'm always looking for more human interest stories.

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A little bit later in the show I'll let you know how you can get involved In community news, if you haven't heard yet.

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The Downtown Traffic and Pedestrian Improvement Project has been paused After failing to pass an agreement with the project manager.

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The project is on hold and the city will have to look at additional options to complete the project.

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Stay tuned for updates.

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The filing period has closed for the November 5th elections and we now know who will be vying to be on the Hanford City Council.

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Nancy Howes, co-owner of Renewable Solar, and Judy Scott, a retired correction officer, are vying to fill the seat representing District C that was vacated by Diane Sharp in April.

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Things are going to get interesting in District B.

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If you recall, kaleesh Morrow resigned in May and the council appointed former council member Martin Devine to complete the vacated term.

00:02:06.751 --> 00:02:09.304
He'll be in the race to stay on the council.

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He'll be challenged by Alfred Benavidez and Kemba Reagan.

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Voters in Hanford will also vote on nine local measures, several state measures, multiple local and state candidates and federal officials, including the president, in the November election, and federal officials, including the president, in the November election.

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Make sure you're registered.

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In a few weeks we'll have Kings County Register voters Lupe Villa back on the show to give us a rundown on the election timeline.

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The city held a webinar last Wednesday evening and about 30 of us attended the Zoom.

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City Manager Mario Cervantes, police Chief Stephanie Huddleston and Communications Manager Brian Johnson led a discussion regarding Measure H, the tax revenue measure, on the November 5th ballot.

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There were some really good questions.

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You should check out the other activities that are having to educate the public.

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They include an in-person meeting on September 12th and another virtual meeting on October 7th.

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Follow the City's social media accounts or check the city website for a complete list of educational events.

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Next week I'll have three members of the Revenue Measure Committee on the show to share their experiences from being on the committee.

00:03:20.700 --> 00:03:22.804
Here are some things coming up on our community calendar.

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At this week's Thursday Night Marketplace it's Vendor Appreciation Night with music by Exodus, which plays Latin and R&B.

00:03:29.854 --> 00:03:34.247
The Kings Players are presenting Outward Bound.

00:03:34.247 --> 00:03:38.150
Evening performances on Fridays and Saturdays begin at 7 pm.

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There are also select matinee performances.

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Visit kingsplayersorg for tickets and information performances.

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Visit kingsplayersorg for tickets and information.

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Part 2 of Kings County's Asian Experiences opens on Friday September 6th at the Carnegie Museum of Kings County.

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Part 2 showcases local Asian communities in the years following World War II.

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Specific displays focus on the histories, cultures and traditions of Japanese, chinese, filipino and Hmong in the area.

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For more information, visit carnegiemuseumofkingscountyorg.

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Women with Visions Unlimited will be presenting their all-white party on Saturday, september 7th at the King's Arts Center.

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Tickets are $50 in advance and $60 at the door.

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If you have an event coming up and you'd like some help getting the word out, let's work together.

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Send your information to hanfordinsider at gmailcom.

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Be sure to subscribe to my weekly newsletter to get a complete recently and purchase another one.

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And it could not have been done better by anyone other than my good friend Thomas Curtis, and he is with me here this afternoon and Thomas, welcome to the show.

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Rob, I'm honored to be here.

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Man, love you like a brother, and honored to be able to get to work with you and Lois.

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And yeah, amazing Thomas, you were originally not from this area.

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What brought you to this area and tell us a little bit about your schooling and maybe what led you to the area of real estate?

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Yeah, absolutely, rob.

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Thanks for asking.

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My father was in the military for about 24 years and we moved to Lemoore in 2000,.

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Right before, you know, right after that dot-com bust, everyone thought the internet was going to go under.

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I thought the clocks weren't going to reset.

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Honestly, we moved here and, yeah, we moved from Oceanside, california, which is down South.

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I could walk to the beach in 30 minutes.

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And then we moved to beautiful town of Lemoore where I took a shower and you didn't smell worse getting out than you went in and you know, and you came over here and it was 115 degrees every summer and it was just a definitely different environment.

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But my father, yeah, retiring here is what brought us here.

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As far as real estate, the story behind that, I was going to college and my family was going through some really hard times.

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My dad had a, you know, adjustment leaving the military, you know which you can imagine, right, 24 years in the military and then trying to find something after, and it didn't work out.

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So our family was going through some hard times.

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We were losing our house.

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It was the middle of all the craziness.

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I was working four jobs to help pay the mortgage for a couple of years and there was one night I got in a car accident.

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Yeah, I got in a car accident because I fell asleep driving because I was working too much, hit a tree at about 60, 65 miles an hour and yeah, I'm still here, still kicking.

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What happened after that?

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My mom, you know, had a kind of like a breakdown right, she had a breakdown after a car accident we losing everything and she was having a really hard time and I went into her room and she had her head in between her legs, just sobbing, just in her closet, just sobbing, and it just broke my heart.

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I ran to my room, I just started bawling and after that day I said I don't know what I'm going to do, but I'm going to do something to change my family tree.

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And going to school, at that point I met a teacher, a local teacher, monty Payton.

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He was a business teacher.

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I originally wanted to go to school to be a PE teacher and do some kinesiology and ended up going into business business and Monty Payton was a big proponent in that and taught me a bunch of stuff.

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And I got turned on to Robert Kiyosaki Rich Dad, poor Dad and he said real estate was one of the things that made a lot of people wealthy.

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So I said, hey, I'm going to jump on that, I guess.

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And it's always had a draw.

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And I'm in real estate, thank God over 10 years in business now.

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So it was cool.

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But in the very beginning I couldn't even afford the dues to the MLS.

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It was a couple grand or something like that.

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And I had a friend who actually paid my dues for me, so I was able to join her team and shout out to Jamie Tulak, thank you, jamie.

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And she paid my dues and off to the races we went.

00:08:23.249 --> 00:08:26.014
So the real estate family.

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There's a whole network.

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I've learned all of this kind of crash course in it.

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There's a real good network of agents and the way that you work together and you you know connection, the interconnection between all of the agencies and all the lending firms and everything, and we could probably do a whole show on that.

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I'm sure let's get to some specifics here about real estate in the Hanford and Lamora area.

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Let's start with the new rules that just came down, because that seems to be a hot topic about how agent commission fees are collected.

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Can you just give us in the nutshell kind of the new policies and how that will affect homebuyers?

00:09:08.005 --> 00:09:15.191
Yeah, absolutely, and this is just how we run our business and our interpretation and what we're executing here at Keller Williams and on our team.

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But really, the big thing, I would just want to let everyone know that there's going to be a lot that's going to stay the same.

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The techniques and how things are getting executed have changed a little bit and, at the end of the day, buyers are still going to buy and sellers are still going to need to sell.

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We're co-mingling.

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Real estate commissions have always been negotiable.

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They've never been set right, so they've always been negotiable.

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So they had a big lawsuit.

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They say it was fixed at 6%, which is not true, but they got the lawsuit.

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They ended up suing and then we had a couple big brokerages settle and so what we have today, as of the 17th of August here in California, nationwide now they have completely decoupled right.

00:10:09.796 --> 00:10:10.460
It's a weird word.

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Pretty much that means just split the buyers and sellers, buyers and listing agents commission.

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So as a seller, now we just listed a house last week as a selling agent, we negotiate our commissions with the listing, the sellers, but we do not have the buyer's commission on there, which we normally would.

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So that's the big change.

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There's no commission on there for the buyers.

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We recommend 100% that sellers use compensation to compensate buyers' agents coming in, because what ends up happening is, if you don't offer compensation as a seller to a buyer, you're not going to get the cream of the crop.

00:10:46.907 --> 00:11:07.697
Right now, 90% of people use buyer's agents, and part of the things you were talking about earlier of getting pre-qualified, making sure you're with a good lender, making sure you guide the buyers through a process that is a lot of work, so the buyer's agent does deserve to be compensated also is a lot of work, so the buyer's agent does deserve to be compensated also.

00:11:07.697 --> 00:11:12.621
So listing side sellers are paying the listing agent's commission.

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It's negotiated.

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There's no more buyer's commission on that paperwork.

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The buyer's agent now has to sit down with their buyer and say, hey, here's my value proposition, this is why I'm worth X amount of percent.

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And they sign a buyer broker agreement and then they're off.

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Showing the house is no different than if you were to go to an attorney and saying, hey, represent me, all right.

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Ok, this is what I charge as a retainer, these are my fees.

00:11:35.269 --> 00:11:38.682
So very same thing, but as buyers.

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What ends up happening is the buyer's agent then negotiates the commission to the seller, so they still write the offer and they will likely still submit hey, mr Seller, mrs Seller, this is my offer and I know there's no compensation on the MLS anymore, but here's my request, so it could be a percentage.

00:11:58.373 --> 00:12:00.283
And then there's a negotiation from there.

00:12:00.283 --> 00:12:02.086
So buyers and sellers split.

00:12:02.086 --> 00:12:04.581
Buyers agents negotiate their own commission.

00:12:04.581 --> 00:12:04.721
Now.

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That's quite a change.

00:12:06.763 --> 00:12:10.164
But again, in a lot of ways it's not.

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If people do their job right, you probably won't even notice it, as we talked about earlier.

00:12:14.947 --> 00:12:17.208
Let's get on to some fun topics here.

00:12:17.208 --> 00:12:27.554
There are a ton of new housing developments in Hanford we think of 12th, and Hume, we think of 13th and Centennial and Lemoore.

00:12:27.554 --> 00:12:29.836
There's some out by Lemoore College.

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They're at 198 and Bush.

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So what's drawing?

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What have you seen?

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That's drawing people to our community and purchasing these homes.

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Some of the big things really, the culture here.

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When I moved from Oceanside to here I was shell shocked of of everything, because night and day culture change there was and the area obviously, uh, and what I've seen with that now is this area is, I feel like we're in a bubble, like Kings County, central Valley we are.

00:13:01.301 --> 00:13:11.048
I feel like we're in a bubble, like we are just different and I feel like specifically our area here in Hanford and Kings County there is a good draw for family.

00:13:11.048 --> 00:13:15.873
We don't have a ton of crime, right, and I think a big draw is the price point.

00:13:15.873 --> 00:13:32.138
And I think a big draw is the price point, our price point, our average sales price right now is approximately around 370 here in Kings County and I mean I travel a lot and I mean people are every time they hear California they're like oh, 700,000 must be your and like we live in a different part of California.

00:13:32.138 --> 00:13:34.582
So I see that as a big draw.

00:13:34.683 --> 00:13:42.527
Obviously, the military base has a big, a big draw and I really do believe affordability and the culture of the area and the growth.

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You know, the things that the cities are doing and different organizations are doing to make the environment more fun is drawing people from even Visalia and Fresno.

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We've seen a lot of people.

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Even a lot of people are coming from out of the area.

00:13:58.953 --> 00:14:19.155
It's hard to dial in deep, but there's about 40% 30 to 40% of our people on a monthly basis in our MLS multiple listing service that are from out of the area, right, so almost 30, 40% of the people moving here are not from Kings County or their agents aren't from Kings County.

00:14:19.155 --> 00:14:25.395
So they're coming here and they're finding that this is really, actually a really good place to live.

00:14:26.758 --> 00:14:34.775
I know that you were into flipping houses and doing well on that and that was all the rage on HGTV and everything.

00:14:34.775 --> 00:14:46.083
Do you see many houses being flipped in, maybe the downtown, central district or other parts of Hanford that people are finding maybe a fixer upper that they can live in?

00:14:46.104 --> 00:15:05.277
people who are buying, including us who are buying houses now are our model and what we're and how we run our numbers has changed a little bit with, you know, the market and everything like that we have.

00:15:05.277 --> 00:15:09.153
We're about 40 something days on the market, so we do see a lot.

00:15:09.153 --> 00:15:14.024
I have a buddy who bought 10 houses last month um to flip or turn into a rental.

00:15:14.024 --> 00:15:15.967
I see downtown.

00:15:15.967 --> 00:15:18.408
I don't see a ton like down down downtown.

00:15:18.408 --> 00:15:26.509
I do see businesses coming in, but I do see a lot of the older houses you know spread down a little bit wider.

00:15:26.509 --> 00:15:43.807
In Hanford A lot of the older houses are getting bought because really, the way that we run our numbers and how it makes sense for us I mean I don't know if I can talk numbers on here, but we bought a flip in Kingsburg and it took us about eight months to sell it and I spent 90 grand renovating and made $3,000.

00:15:43.807 --> 00:15:54.163
Right, yeah, that's good learning experience.

00:15:54.163 --> 00:16:01.431
So as you go into markets like this, when you're maybe an investor and you're uneasy, you're like, hey, what does the next six months look like?

00:16:01.431 --> 00:16:07.985
Because we think and sick, because it takes about six months or so to buy, renovate and all that.

00:16:07.985 --> 00:16:11.918
I love older houses, I love older properties.

00:16:11.918 --> 00:16:14.985
Those take obviously a lot longer because you have a lot to do.

00:16:16.495 --> 00:16:22.371
I felt like last year most of the houses I bought were, I feel like, between 1920 and 1940, I'm like man, can I get a newer house?

00:16:22.371 --> 00:16:33.735
But those older houses need a lot of work and not a lot of people are willing to go in and do a foundation electrical, plumbing, hvac, I mean literally everything roof, window not a lot of people are willing to do that.

00:16:33.735 --> 00:16:36.658
Yeah, things have to come up to code, I would imagine from 2024.

00:16:36.658 --> 00:16:37.740
Yeah, they have to come up to code.

00:16:37.740 --> 00:16:39.341
So that's a big change too.

00:16:39.341 --> 00:16:45.129
Now in the flipping game, if you do flip a house, you have to turn in the contractor that you use.

00:16:45.129 --> 00:16:54.020
You need their information, you need the permits, so as you flip, that even in our industry the game's changing on that also.

00:16:54.041 --> 00:17:16.683
So the topic of Airbnbs and rentals in Hanford and people you know for those of you listening, go ahead and go to Airbnb and look how many rentals there are, how many units there are in Hanford for rent, and it was kind of a unique exploration for my wife and I as we were looking at what the transition time might've been between selling a house and moving into a new one.

00:17:16.683 --> 00:17:22.599
But tell us a little bit about the Airbnb market in Hanford, lemoyne, great question Rob.

00:17:23.141 --> 00:17:43.882
So Rob mentions that because, not knowing the timeframe, I talked to him and his wife just letting them know that, hey, we have a few Airbnbs in town and with that, if stuff did not work out how we'd like to, that is an option to jump in there for a short period of time while the new construction house was getting built.

00:17:43.882 --> 00:17:59.528
We have about five in town, three, yeah, a few in Hanford, some in L'Amour and every time I tell people that they're like what Airbnbs in Hanford and L'ore, like who the heck rents these things?

00:17:59.528 --> 00:18:14.821
And we've had everything from, you know, nurses to people visiting military families, to, yeah, up and down, like, yeah, the surf ranch We've had, yeah, we've had people at the surf ranch.

00:18:14.821 --> 00:18:22.155
Actually, one of our Airbnbs is named Jerry's House, near the surf ranch, you know.

00:18:22.155 --> 00:18:26.381
So that's our neighbor's house and we Airbnb that thing goes out all the time.

00:18:26.381 --> 00:18:41.740
But what I've seen I mean you have random people renting and what I do like about it is more the midterm to long-term rentals, like we've been doing it for about three or four years now uh, airbnbs.

00:18:41.740 --> 00:18:50.205
So what I've seen is we rent uh, we have a few of them right now that are, uh, we have an insurance, somebody with an insurance claim.

00:18:50.205 --> 00:18:56.083
They had a plumbing blow up in their house and they're probably going to be six, eight months.

00:18:56.083 --> 00:19:00.970
In one of our Airbnbs and similar, we had a Fireburn one.

00:19:00.970 --> 00:19:05.365
We have a beekeeper that stays three or four months every year.

00:19:05.365 --> 00:19:08.262
For the past three years We've had them stay in one of our Airbnbs.

00:19:08.262 --> 00:19:11.184
So, yeah, doctors, we've had stay.

00:19:11.275 --> 00:19:18.288
That lady who came and sang the one that's from Hanford, that was on American Idol, danny Stacey, yeah, danny Stacey.

00:19:18.288 --> 00:19:20.540
Danny Stacey stayed in one of our Airbnbs.

00:19:20.540 --> 00:19:24.964
Her mother and her did, because it was right around the corner from the Fox Theater here in town.

00:19:24.964 --> 00:19:26.240
So I love that one.

00:19:26.240 --> 00:19:31.448
It was right near KFC, walking distance to downtown and all the fun stuff.

00:19:31.448 --> 00:19:32.903
So, yeah, it's a fun topic.

00:19:32.903 --> 00:19:33.557
Those are always.

00:19:33.557 --> 00:19:39.292
That's a really fun topic, because people don't believe you when you say, hey, kings County Airbnb's, that will never work.

00:19:39.292 --> 00:19:42.636
We're making money, you know, and it's and it's fun.

00:19:43.078 --> 00:19:53.320
It's a lot of work, though yeah, I think where I've seen it too is if you read the reviews on some of these, you really kind of get to see what people are renting these for.

00:19:53.320 --> 00:19:58.435
You have maybe like a family reunion or a party or something like that and they need some extra space.

00:19:58.435 --> 00:20:08.582
That's a great opportunity for them to be able to do that rather than staying at a hotel Not that our hotels in Hanford are nice, but it's a great place to just kind of spread out and relax.

00:20:08.782 --> 00:20:25.308
Yeah, when you have a private, I think we had one last week they had a party at Jerry's Surf Ranch Airbnb and he I mean, yeah, there was a bunch of people over there and 30 plus people and it was just bigger space than you know, than they had, and it was a family.

00:20:25.308 --> 00:20:27.119
You know older, you know family.

00:20:27.119 --> 00:20:31.863
They're just celebrating and it was awesome, it was fun, we got the, we got to look at them and they were just having a great time.

00:20:31.863 --> 00:20:39.648
So it is a different alternative, you know, than than a hotel hotel, but in Hanford and Kings County they have some great, great hotels.

00:20:40.855 --> 00:20:43.265
Let's wrap this up with your crystal ball.

00:20:43.265 --> 00:20:53.351
I want you to put on your thinking cap and you tend to be someone who needs to look ahead and forecast kind of what is down the pipe.

00:20:53.351 --> 00:21:06.186
As far as real estate in the area and in our discussions we've talked about national elections can play a big part in but what do you foresee in your Thomas Curtis cap there?

00:21:06.186 --> 00:21:09.059
What do you foresee happening in the next couple of years?

00:21:09.560 --> 00:21:12.448
Oh man, that is a loaded question there, rob.

00:21:12.448 --> 00:21:13.496
There's a lot.

00:21:13.496 --> 00:21:19.179
What I want to kind of lay a foundation is a big picture and then I'll bring it small.

00:21:19.179 --> 00:21:35.210
Nationwide, after the big bust of 08, and all that per decade, the United States has built about 20 million houses give or take a year around there, right, and that decade after 2008,.

00:21:35.210 --> 00:21:36.310
I felt like they just stopped.

00:21:36.310 --> 00:21:39.712
I think they ended up building around 6 million that decade.

00:21:39.712 --> 00:21:45.086
Well, population hasn't really slowed down since since then.

00:21:45.086 --> 00:21:51.588
So we took a 10 plus million unit count hit that decade.

00:21:51.588 --> 00:21:54.376
Well, people were still being born, people still.

00:21:54.376 --> 00:21:56.996
You know all of that and we, it still took us.

00:21:56.996 --> 00:22:05.021
You know, now we're a decade and a half almost later, and even this last decade I think they were still, you know, around give or take 15 million.

00:22:05.021 --> 00:22:07.083
So that's still a shortfall around 5 million.

00:22:07.083 --> 00:22:19.732
So when you're looking at it, we're still roughly an estimate of about 20 million houses short of what we would normally have been Right, and what I'm getting at is population growth and inventory.

00:22:20.394 --> 00:22:34.708
Right, inventory is still at an all-time low, even for our area Before COVID we were, it was on Kings County we had about 250 to 300 houses at any time here in Kings County for sale.

00:22:34.708 --> 00:22:41.217
Now, kings County for sale.

00:22:41.217 --> 00:22:44.007
Now we're hovering, you know, around the low one hundreds to 150 houses for sale.

00:22:44.007 --> 00:22:44.808
So population is a is a big thing.

00:22:44.808 --> 00:22:48.480
I want to, I want to, I want to drill in population and and and, uh, the lack of houses.

00:22:48.480 --> 00:22:49.662
That is a big thing.

00:22:49.662 --> 00:23:01.377
The second one is is uh, um, there is, there's probably 90% of people in the U SS who have an interest rate under like 5%, you know, if they have a mortgage.

00:23:01.377 --> 00:23:10.115
I think 45 to 50% of people who have a mortgage in the United States are free and clear, you know.

00:23:10.115 --> 00:23:17.152
But the people who have a mortgage in the United States, a huge amount of them, are under 4 or 5%, all right, so those are just putting that information so you guys can see that out there.

00:23:17.152 --> 00:23:18.575
A huge amount of them are under 4% or 5%.

00:23:18.575 --> 00:23:22.185
So just putting that information so you guys can see that out there.

00:23:23.517 --> 00:23:35.028
With the election coming up, to tell you the truth, my thought pattern is this is the United States has foregone a path already.

00:23:35.028 --> 00:23:40.124
They have set a path and it doesn't matter who is in an election.

00:23:40.124 --> 00:23:46.548
It might speed up that path or might slow down, depending what side is on there, us in our business.

00:23:46.548 --> 00:23:52.191
I see where the path is going and people are still going to have to buy houses.

00:23:52.191 --> 00:23:53.457
They're still going to have to sell.

00:23:53.457 --> 00:23:54.660
They still have life events.

00:23:54.660 --> 00:24:16.645
I know people, you know I say the people who normally are who are going to have to move in this era of life are, you know, either going to have a life event or one of the four D's right Death, disease, divorce, disaster or some kind of life event that's going to make you have a 2% mortgage to sell and buy another house.

00:24:16.645 --> 00:24:18.008
So there's different life events.

00:24:18.008 --> 00:24:23.944
So, from what I see, what's going to go on, my opinion is inventory is still low.

00:24:24.346 --> 00:24:29.742
The world is changing a lot and I don't see things getting any cheaper.

00:24:29.742 --> 00:24:33.016
The real estate world we've been in a recession for years already.

00:24:33.016 --> 00:24:35.061
We've been in a recession for years.

00:24:35.061 --> 00:24:39.714
So the economy outside of real estate hasn't right.

00:24:39.714 --> 00:24:42.463
So if we do come into a recession, which numbers are looking like?

00:24:42.503 --> 00:24:45.381
We are even our financial as a nation.

00:24:45.381 --> 00:24:48.332
Our financial stuff is changing.

00:24:48.332 --> 00:24:52.431
It's going to take a few years still for that to implement, but I just don't the way we're going.

00:24:52.431 --> 00:25:03.343
I mean, if you imagine we've been a nation for almost 250 years, 240-ish of those years, it took us to amass almost $10 trillion in debt.

00:25:03.343 --> 00:25:08.767
From 2000 to in the last four years, we've amassed triple that.

00:25:08.767 --> 00:25:14.275
Now our debt's 30-something I don't know 35, 34, right.

00:25:14.275 --> 00:25:17.203
So what took us 240 years to do?

00:25:17.203 --> 00:25:19.853
We tripled that in four years.

00:25:19.853 --> 00:25:27.920
So something's going to have to change and United States is broke, russia's broke, china's broke All these people are broke.

00:25:27.940 --> 00:25:32.663
So what I see is the financial system is changing, just like it did in 1971.

00:25:32.663 --> 00:25:35.924
And how that's going to have an effect on the real estate market?

00:25:35.924 --> 00:25:40.647
I believe it's just going to make things more expensive.

00:25:40.647 --> 00:25:41.548
Buy a house now.

00:25:41.548 --> 00:25:46.972
I would highly recommend you buy a house because I know my kids, right.

00:25:46.972 --> 00:25:57.675
I just, man, I feel I just had my oldest graduate high school and I'm like, oh man, just, it's just another stage of parenting and already, cause she sees it, she's like dad, I can never afford a house.

00:25:57.675 --> 00:26:00.323
I was like you don't say that, you do not say that.

00:26:00.323 --> 00:26:06.756
I take my kids as well, you know.

00:26:06.756 --> 00:26:11.234
So, to get out of that, you know, to get one, to get out of that mindset like you can't afford a house, let's show you how to do it, you know, and put you on a plan.

00:26:11.234 --> 00:26:17.747
So my forecast really is in the next coming years, even if the economy hits a recession.

00:26:17.767 --> 00:26:18.749
What happens in a recession?

00:26:18.749 --> 00:26:25.603
They know that real estate is the engine of the country, so they normally incentivize real estate.

00:26:25.603 --> 00:26:32.915
And I don't know about you, but with these high interest rates, I know a lot of people who are just waiting for them to drop.

00:26:32.915 --> 00:26:35.442
And then they are saying, hey, I'm all in.

00:26:35.442 --> 00:26:41.324
And so my response to them is always like hey, do you think you're the only one with that thought?

00:26:41.324 --> 00:26:53.259
Would you rather pay a little bit higher interest rate and refinance later, or go in when there's a hundred more people in the market and they have more money than you, so they'll outbid you again?

00:26:53.259 --> 00:26:54.724
That's kind of what happened in 2001.

00:26:54.724 --> 00:27:01.162
I saw people paying $30,000 over appraisal and it was just wild.

00:27:01.162 --> 00:27:11.695
I sold a house, or I saw a house as a comp, and then next door somebody 30 grand over asking cash over appraisal, and I'm like this is wild, right.

00:27:11.695 --> 00:27:11.957
Why?

00:27:11.957 --> 00:27:13.861
Because the interest rates were lower.

00:27:14.501 --> 00:27:19.201
So my vision of the next couple of years is things will probably get a little bit more expensive.

00:27:19.201 --> 00:27:21.916
The cost of living is going to get a little bit more expensive.

00:27:21.916 --> 00:27:29.039
So get into a house, lock it in the famous saying buy the house, date the rate, type of thing right.

00:27:29.039 --> 00:27:31.464
Marry the house, date the rate and refinance.

00:27:31.464 --> 00:27:41.920
And I truly believe that, in the big scope of things, I mean most Americans, their house is where they get most of their wealth from.

00:27:41.920 --> 00:27:57.402
And if the big companies are doing it, for the first time in ever you have BlackRock and all these big companies are spending billions of dollars buying residential If the biggest companies in the world are doing it, we should probably be doing it too.

00:27:58.705 --> 00:28:10.387
That's some great information, Thomas, and thank you for hanging out this afternoon and giving us quite a detailed look at the local real estate market and maybe where it's headed in the next few years.

00:28:10.387 --> 00:28:16.394
A lot of questions come up and I just asked a couple of them, but I know other people are going to have questions.

00:28:16.394 --> 00:28:22.848
How can they reach you and your agency to maybe get some of their questions answered about real estate?

00:28:23.589 --> 00:28:24.833
Yeah, no, that's great, I appreciate it Again, rob.

00:28:24.833 --> 00:28:25.894
That's great, I appreciate it Again.

00:28:25.894 --> 00:28:29.944
Rob, it's an honor coming in here and hanging out with you.

00:28:29.944 --> 00:28:43.501
I would say probably the best way to get a hold of me would be just go on my Instagram, thomascurtiss thomascurtiss, and just shoot me a message on there.

00:28:43.501 --> 00:28:44.523
That's probably the best way.

00:28:44.523 --> 00:28:54.041
If you have any real estate questions, if you're looking at getting into real estate, we also have a school locally, in person and on Zoom, that you can jump in on.

00:28:54.041 --> 00:28:56.363
And, yeah, we're here to serve.

00:28:57.776 --> 00:28:58.700
That's awesome, Thomas.

00:28:58.700 --> 00:29:00.362
Thank you so much for coming on the show.

00:29:01.035 --> 00:29:02.521
Yeah, my pleasure, thank you.

00:29:09.711 --> 00:29:10.512
Yeah, my pleasure, thank you.

00:29:10.512 --> 00:29:19.414
And now it's time for Hanford Insider Sports with Eric Bentley.

00:29:19.414 --> 00:29:23.383
High school football got underway Thursday and will start on the road as Hanford High traveled to Bakersfield to take on Kennedy.

00:29:23.383 --> 00:29:31.307
The game was tied at 22 at halftime, but the Bullpups pulled away in the second half to secure a 45-29 victory.

00:29:31.307 --> 00:29:41.906
The explosiveness was on full display as the Bullpups scored on a 63-yard touchdown pass, a 75-yard kickoff return and a 49-yard rushing touchdown.

00:29:41.906 --> 00:29:49.963
Cordy Glass and Tavion Patterson finished the game with two touchdowns apiece, while Daniel Gomez tossed for two and rushed for another.

00:29:50.786 --> 00:29:58.128
Hanford will be on the road again this week as they travel to Apache territory on Friday for another tough matchup with Sanger.

00:29:58.128 --> 00:30:06.888
Hanford West was in action on Thursday as well, but fell to Fowler in their home opener by a final of 35-13.

00:30:06.888 --> 00:30:12.307
The Huskies will have another chance to pick up a home win this week as Corcoran comes to town.

00:30:12.307 --> 00:30:20.686
And finally, sierra Pacific took the field on Friday, unfortunately losing a tough battle against Woodlake 20-19.

00:30:20.686 --> 00:30:30.557
The Golden Bears got off to a slow start, trailing 13-0 at the half, but were able to give themselves a chance in the second half, trailing 20-13,.

00:30:30.557 --> 00:30:41.268
Sierra Pacific scored what looked like the game-tying touchdown with only seconds left, but the extra point was blocked, preserving a 20-19 victory for the Tigers.

00:30:41.268 --> 00:30:47.598
The Golden Bears will look to bounce back as they hit the road for a showdown with Golden Valley on Friday.

00:30:47.598 --> 00:30:57.990
We'd like to cover as many local sports as we can, so if you have a score report or a story idea, make sure to email hanfordinsider at gmailcom.

00:30:57.990 --> 00:31:02.434
I'm Eric Bentley and this has been your Hanford Insider Sports Report.

00:31:02.434 --> 00:31:07.625
Your Hanford Insider Sports Report.

00:31:07.625 --> 00:31:09.288
That's all the time we have for this week's show.

00:31:09.288 --> 00:31:17.035
Join me next week when I sit down with members of the Hanford Revenue Major Committee to see what they learned during their study of needs for the city of Hanford.

00:31:17.035 --> 00:31:25.247
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00:31:25.247 --> 00:31:32.368
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00:31:32.368 --> 00:31:36.486
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00:31:36.486 --> 00:31:41.886
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00:31:41.886 --> 00:31:43.299
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00:31:43.299 --> 00:31:59.106
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00:31:59.106 --> 00:32:01.429
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00:32:01.429 --> 00:32:05.913
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00:32:05.913 --> 00:32:07.459
Thanks for listening.

00:32:07.459 --> 00:32:08.623
Have a great week.