How do I figure out what home I can afford in Clovis?

Asked by J.P., Tampa, FL Mon Apr 23, 2007

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Ron Thomas, Agent, Fresno, CA
Tue May 31, 2011
As you can tell from the answers; there are a lot of considerations:
The prices in Clovis have dropped significantly; I don't know how they compare with Tampa.
Clovis has a spectrum of prices and neighborhoods.
Clovis schools are very desirable.
If you would like, I would be happy to e-mail some Listings, if you will give me some parameters;
bedrooms, sqft, single story, pool, new/older, shopping, etc.
Good luck,
0 votes
Gr, Home Buyer, Fresno, CA
Mon Dec 3, 2007
hi we just put in our downpayment for an autumnwood model at town and country in harlan ranch, who knows when the best time to buy is, i think it depends on your circumstances, we were after the tax breaks, the sooner we get the house the better. harlan ranch ranch is a beautiful area, i have 2 kids and my husband and i fell in love with the place, we recognize it's potential value, if you are looking to stay and not to flip, it won't affect you whether within the next few years the prices go up or down, as long as you can afford your mortgage and like the place i believe you'll be ok
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concerned for…, Home Buyer, Fresno, CA
Thu Oct 11, 2007
My fiancee and I are looking at buying a new home out at Harlan-Ranch. We like The European Collection offered by Wathen-Castanos (Toscana - $359,900). The problem we're having, like most first time buyers, is that we don't know if this is the right time to buy or if the people we're dealing with are offering us the right prices (incentives). After lots of research, it's obvious the market is continuing to drop and prices will def. come down. With the rain/winter season ahead, I can't imagine prices staying stable anywhere, including Harlan-Ranch. With that being said, Wathen-Castanos (European Collection) is offering 30K in incentives (multi-uses). Is this good? should we ask for more off? or just wait? The average sales price for the clovis area has dropped 8% (342K in july 06' to 325K in april 07' to 299K in july 07'), the median sales price for a 3bdrm has also dropped 4.4% from (315K to 291K to 278K), and the average price per sq.ft. has also come down 6.3% from ($212 to $189 to $177). Our square footage = 1940. This home would be built within the next 6-8 months in their 3rd phase (only one lot reserved other than ours). They have also offered us the same home up the street (phase 2) for 50K in incentives of base price, plus it has many upgrades (approx 10K). Unfortunately we don't like the upgrades and they can't be changed. We also know that they offer another style home (Capri Courts) that is smaller and cheaper. These are coming with 40K off so... should we be getting the same deal or... am I missing something? Anyway, if you have any suggestions to shed some light or give me peace of mind... we would really be grateful. chad
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Jan Waegele, Agent, Clovis, CA
Mon Apr 23, 2007
Your first step is to contact a reputable lender. Look for someone local; you don't want to be in a transaction later on and find that when you need action all you have is the telephone. Don't select one further away than you are willing to drive. Next, the difference between a mortgage lender and a mortgage broker is that the lender is loan 'their' own money; a bank, investment company, savings and loan for instance. A mortgage broker is just that - brokers your loan business to another company to do the funding (provide the money). Remember that even if you get a 'better deal' with a brokerage, you are giving up control. You are depending on someone somewhere to do their job. Once you have a minimum of a prequalification by your lender, shop for an agent. Look for experience, good communication skills are an added value. Look for one who will 'tell it like it is' - that's the agent who puts themself in your shoes figuratively. You don't want sugar coating - that only comes back to bite you. And it may not be time yet for you to buy - if you receive that answer from your lender, plan to solve issues by a certain date, keep in touch with your agent, and plan for the time when you can do the purchase.
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