San Joaquin Valley Homebuilders Explain Whos Buying Homes

Lisa Walker • Nov 21, 2016

Real estate authority Zillow just released their Consumer Housing Trends report, which details who is buying homes in the USA. These are all averages but you can check out the statistics to see how many of them apply to your home purchase situation.


Basics
According to the report, the typical home buyer is in their mid 30s to early 40s with 65 percent being male, 67 percent being married, 75 percent college educated, and 83 percent actively looking for a home.
• Their median annual household income runs $87,500. (Note that the
 Sacramento Bee says the typical annual income needed to buy a median-priced home in Visalia is $38,000, and for Tulare it’s $27,000.)
• About 75 percent of the buyers are Caucasian, 11 percent Latino, 7 percent African-American, and 5 percent Asian/Pacific islander.
• About 47 percent are first-time buyers who spend a median of $200,000 on a home. Repeat buyers are typically older at a median 42 years. They typically spend $235,000.
• About 82 percent of West Coast buyers are looking for a single-family home compared to 83 percent throughout the USA. Only 23 percent in the West want townhouses and 13 percent look for condos or co-ops.


Generations
Home buying preferences vary by generation.
• The biggest chunk of homebuyers, 42 percent, consist of Millennials with 31 percent for Gen X, 16 percent for Baby Boomers, and 10 percent for the Silent Generation.
• Millennials have the most flexible wants and are the most likely to consider townhouses or duplexes/triplexes.
• Generation X preferred single-family homes and are the least likely to buy condos and co-ops.
• Baby Boomers have the greatest percentage, 10 percent, who are willing to buy manufactured housing with 14 percent looking at condos or co-ops.
• The Silent Generation is more interested in condos or co-ops at 23 percent, or townhouses at 21 percent.


What Buyers Want
About 50 percent of Millennials and 54 percent of Generation X prefer to consider newer properties compared to 38 percent of Baby Boomers and 39 percent of the Silent Generation. About 51 percent of men prefer the new compared to 44 percent of women, and 55 percent of families with kids also like new homes, compared to 42 percent of families without kids. The following are the major features that buyers focus on:
• Energy efficiency at 48 percent
• Reviews and ratings of builders at 47 percent
• Customization options at 45 percent
.

Resources
Most buyers look for homes both online and with the help of a real estate agent. Many start their purchasing tasks using websites and apps before consulting the expertise of a professional.
• Mobile devices are more popular for those under 50 years of age with 66 percent of Millennials and 62 percent of Generation X relying on smart phones. Only 42 percent of Baby Boomers and 37 percent of the Silent Generation use mobile.
• Millennials also like to use personal networks, such as friends or neighbors, to help them with the house hunt. They are also more likely to visit a builder sales center.
• About 78 percent of buyers expect sellers to respond within 24 hours. The remainder consider it okay if the response takes two or more days.
• Before settling on an agent, 60 percent of home buyers check out the agent’s knowledge of the market, 58 percent check out the website of the agent, 56 percent ask their personal network about experiences with the agent, and 50 percent read the agent’s online reviews. Only about 44 percent interview agents.


27 Feb, 2024
San Joaquin Valley Homes reports brisk sales in 2023 with the close of 549 new homes in the Central Valley of California. See a recap of 2023 and a preview of plans for 2024.
12 Dec, 2023
San Joaquin Valley Homes and Presidio Residential Capital Close on Land in Central Valley’s Porterville, California.
31 Jul, 2023
Local Builder Thanks Employees, Homebuyers and Building Partners for Its Success
31 May, 2023
Sales Remain Strong This Spring, Despite High Mortgage Rates
26 Apr, 2023
Local Valley Homebuilder Presents a $500 Check to One Recent Homebuyer in Each of its 13 Communities 
06 Apr, 2023
Local Home Builder Stands Out Against Its Competition
16 Feb, 2023
San Joaquin Valley Homes (SJV Homes) was by far one of the most active builders in the San Joaquin Valley beating its own record in 2022 by closing 618 homes. It opened four new communities and closed three other neighborhoods. SJV Homes once again pulled more building permits than any other builder in both Tulare and Kings counties. In total SJV Homes pulled more than 600 building permits in 2022 – second only to one of the nation’s biggest builders, according to data provided by the Construction Monitor, which tracks building records nationwide. “We continue to have confidence in the Central Valley market and in our ability to build quality homes to meet the needs of our homebuyers and neighbors,” said Joe Leal, co-founder of SJV Homes. SJV Homes will open two new home communities in 2023 including Montebella in Dinuba, which opened early February, and Maplewood in Visalia, slated for a spring grand opening. In addition, the local builder expects to close its 3,500th home in March. It presently has homes available in the cities of Delano, Dinuba, Hanford, Kingsburg, Reedley, Tulare and Visalia. “Like every homebuilder in today’s market, we’ve faced challenges including inflation, supply chain issues and buyers who are cautious about high-interest rates on home mortgages,” Leal continued. “But our hardworking sales team helped more than 600 families find a new home last year. That shows us the folks in the communities where we build trust us and are confident when purchasing one of our beautiful homes in well-located neighborhoods throughout the Valley.” The following is a breakdown of SJV Homes’ current communities: Tulare County Montebella, Dinuba: 127 units Cypress Park, Tulare: 154 units Kensington, Tulare: 248 units Arbor Gates, Visalia: 91 units Greystone, Visalia: 187 units Vista del Sol, Visalia: 95 units Kings County Bella Vista, Hanford: 247 units Bonterra, Hanford: 300 units Hidden Oaks, Hanford: 108 units Sterling Oaks, Hanford: 106 units Fresno County Summerlyn, Kingsburg: 166 units San Rio, Reedley: 150 units Kern County Pheasant Court, Delano: 148 units Quail Run, Delano: 130 units 2023 Openings Montebella, Dinuba: 127 units Maplewood, Visalia: 138 units All SJV Homes’ projects are part of a joint venture partnership with Presidio Residential Capital , a San Diego-based real estate development management company. To date, SJV Homes and Presidio have partnered on more than 35 projects totaling more than 4,500 units. About San Joaquin Valley Homes San Joaquin Valley Homes (SJV Homes) is a local homebuilder with deep roots in and a strong commitment to the Central Valley. Founders Joe Leal, Jim Robinson and Randy Merrill share a vision to build quality new homes in carefully planned neighborhoods for people who love the Valley and want lasting value. In 2013, SJV Homes combined forces with Presidio Residential Capital, a real estate development management firm in San Diego. It has since closed more than 3,000 homes and is now one of the busiest homebuilders in the San Joaquin Valley. For more information, please visit www.sjvhomes.com . About Presidio Residential Capital Presidio Residential Capital is a real estate development management company focused on the residential housing sector. Headquartered in San Diego, California, the firm provides capital in the form of joint ventures for the development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $1.5 billion into the economy to capitalize the housing industry. The firm’s goal is to invest in excess of $100 million in capital for home-building projects in the Western United States in the next 12 months. It targets builders in Arizona, California, Nevada, Washington, Idaho, Colorado and Utah with current committed capital of $250 million focused on 40 plus projects. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Online and social media: www.presidioresidential.com , Facebook , Twitter and LinkedIn .
06 Jul, 2022
Local Central Valley Homebuilder Presents Reedley, California, Homebuyers $3,000 Check VISALIA, Calif . – July 6, 2022 – Central California homebuilder San Joaquin Valley Homes (SJV Homes) has closed its 3,000th home and surprised new homeowners Jose Ramos and Melisa Silvas with a check for that same amount to celebrate this milestone for the nine-year-old local homebuilder. In addition to the check, Ramos and Silvas received a gift card for Lowes. Ramos and Silvas purchased the single story, 2,100-square-foot Coronado model at the San Rio community in Reedley. “After looking at many houses – both new and resale – for months in the area, we were instantly drawn to this home’s style, space and neighborhood,” said Ramos. “I knew immediately this was the perfect home for our family. And we are so happy to be part of SJV Homes’ history by being its 3,000th homebuyer.” Ramos, who was born and raised in Reedley, and Silvas were looking for a larger home as their family was quickly outgrowing their current living quarters. While they considered purchasing a home from a national homebuilder, in the end according to Silvas, “the personal attention and service we received from SJV Homes helped seal the deal.” “It is always so rewarding to recognize our homebuyers personally – especially during special times like this one,” said Lissa Walker, director of marketing. “We’re extremely honored that Jose and Melisa chose our company to build their very first house for their family.” The 3,000th home closing comes on the heels of SJV Homes’ fourth year selected for trade publication Builder Magazine’s 2022 Next 100 list , the housing industry’s premier ranking of the nation’s most active homebuilders. The Builder list, typically dominated by large private and public builders, ranked SJV Homes 118 across the nation based on 449 homes closed and $160 million in gross revenue. Founded in 2013 by Joe Leal, Jim Robinson and Randy Merrill, SJV Homes is a local homebuilder currently developing new home neighborhoods in Dinuba, Hanford, Kingsburg, Porterville, Tulare and Visalia. SJV Homes, in partnership with Presidio Residential Capital, a San Diego-based real estate development management company, has now developed more than 35 joint venture projects in California’s Central Valley. About San Joaquin Valley Homes San Joaquin Valley Homes (SJV Homes) is a local homebuilder with deep roots in and a strong commitment to the Central Valley. Founders Joe Leal, Jim Robinson and Randy Merrill share a vision to build quality new homes in carefully planned neighborhoods for people who love the Valley and want lasting value. In 2013, SJV Homes combined forces with Presidio Residential Capital, a real estate development management firm in San Diego. It has since closed more than 3,000 homes and is now one of the busiest homebuilders in the San Joaquin Valley. For more information, please visit www.sjvhomes.com. About Presidio Residential Capital Presidio Residential Capital is a real estate development management company focused on the residential housing sector. Headquartered in San Diego, California, the firm provides capital in the form of joint ventures for the development and build-out of for-sale residential projects throughout the Western United States. Presidio has infused more than $1.5 billion into the economy to capitalize the housing industry. The firm’s goal is to invest in excess of $100 million in capital for home-building projects in the Western United States in the next 12 months. It targets builders in Arizona, California, Nevada, Washington, Idaho, Colorado and Utah with current committed capital of $250 million focused on 40 plus projects. The firm is affiliated with a privately held registered investment advisor specializing in alternative investment strategies who has a long history of investing in the home-building sector. Online and social media: Facebook , Twitter and LinkedIn
23 Mar, 2022
(Left to right) Jim Robinson, Randy Merrill, and Joe Leal accepted the Builder of Choice Award from Builder Partnerships in March 2022. Win is a result of High Scoring from the Builder's Trade Partners and Suppliers VISALIA, Calif. - March 23, 2022 - Central Valley homebuilder San Joaquin Valley Homes (SJV Homes) has been recognized with the coveted "Builder of Choice Award." The national award was earned through the supportive votes from its partnering subcontractors. The annual award by Builder Partnerships was created to recognize home building companies that have developed strong, lasting relationships with suppliers and trade contractors in their markets. In a survey created specifically for the award and responded to by trade professionals from across the country, SJV Homes received an overall score of 93% with its highest mark going to the category, "Willingness to Listen." "We are so thrilled to be acknowledged with this award by our building partners," said Joe Leal, co-founder of SJV Homes. "Every day we are keenly aware of how hard we all work and the quality homes we build for this expanding region of Central California. But being recognized based on the satisfaction of our subcontractors is real validation." In a letter written to Leal, Jim Robinson and Randy Merrill, founders of SJV Homes, Builder Partnerships noted a "Builder of Choice creates and maintains an environment which allows trade contractors and suppliers to accomplish their work efficiently and effectively. A Builder of Choice is consistent and reliable and instills discipline in the building process." SJV Homes works with 95 contractors in the valley to construct homes and install utilities, cabinets, flooring, and appliances. Another 25 companies are involved in land acquisition and development. Stable partnerships have helped these businesses plan in advance, invest in their team and create new jobs in the Valley. Urner's is a family-owned supplier based in Bakersfield, Calif., that has been in business since 1919. While partnering with SJV Homes for the past three years, the company has hired eight new employees, purchased three new delivery trucks and brought on six outside crews to deliver and install its cabinets and appliances to the builder's new homes. "We'll continue to grow with SJV Homes as long as they will have us," said Urner's contract sales manager, Jack Howard, who appreciates SJV Homes for its meticulous standards and confident approach to homebuilding. "We really appreciate the fact that in uncertain times, they are still looking at growing, not downsizing in any way. They share their business plan at the beginning of each year, which helps us forecast." Bryan Davis, president of M&B Carpentry and Manufacturing, has worked with SJV Homes since it was launched in 2013. In fact, the company is working on 60% of the builder's new homes and has expanded to three crews to handle it. "SJV Homes is a very loyal company to work with. Partnering with them has a hometown feel, not like it is with corporate national builder," said Davis, who has known the owners of SJV Homes for more than 25 years. "I know that I can go into the owner's offices at any time to sit down and talk." The business of building new homes also has a significant impact on the cities where new communities are constructed, from Visalia to Hanford to Tulare and several nearby towns. Since the founding of SJV Homes in 2013, 24 new neighborhoods have been completed and sold or closed out by the builder and its financial partner Presidio Residential Capital. The economic impact of that homebuilding activity in the past five years is as follows: Nearly $500 million paid out to local subcontractors $50+ million infused into city and school funds through permits and fees $100,000+ donated to local schools and charities SJV Homes plans to open at least five new home communities in addition to the 12 currently for sale. The local builder expects to close its 3,000th home in May, all within an approximate 40-mile radius of its home base in Visalia, Calif. About San Joaquin Valley Homes San Joaquin Valley Homes (SJV Homes) is a local homebuilder with deep roots in and a strong commitment to the Central Valley. Founders Joe Leal, Jim Robinson and Randy Merrill share a vision to build quality new homes in carefully planned neighborhoods for people who love the Valley and want lasting value. In 2013, SJV Homes combined forces with Presidio Residential Capital, a real estate development management firm in San Diego. It has since closed more than 2,500 homes and is now one of the busiest homebuilders in the San Joaquin Valley. For more information, please visit www.sjvhomes.com. About Builder Partnerships Builder Partnerships is a unique member organization providing training and support to help members improve their performance and profit. Currently, we represent more than 1,600 builders in the United States and Canada who forecast building more than 185,000 homes collectively this year. With more than 75 manufacturer members and service providers, Builder Partnerships also manages highly competitive rebate and incentive programs. We help strengthen relationships between builders, manufacturers, and other service providers in the home building industry. For more information, visit www.BuilderPartnerships.com or call (303) 972-7666
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