Housing Watch: Looking at real estate trends in the Valley

FRESNO, Calif. (KFSN) -- This certainly hasn't been a typical spring for home sellers and buyers.

Realty Concepts CEO JP Shamshoian has a message for clients, family and friends who hope to perfectly time the market for a drop in home prices and interest rates.

"The best day to buy any real property, more often than not, is today because over time, no matter what we see with these types of things, that trend line always steps up over time," he said.

Realty Concepts recently completed an asset acquisition of Guarantee Real Estate.

"What it means for consumers in the Central Valley, Realty Concepts now controls just about 20% of the market. We'll do anywhere from 3,500 to 4,000 transactions a year," explained Shamshoian.

JP's father, John, started Realty Concepts in 1991.

"Truth be told, the Shamshoian family really patterned a lot of what we did over the years after Guarantee," explained Shamshoian.

Shamshoian says housing inventory has picked up a little during the spring, but houses are staying on the market longer than they did a year ago.

"It's going to be a long time before we see sub 5 interest rates again, so the message I try to get out to people is don't wait and base your real estate decision on interest rates. When rates come down, you can always refinance," said Shamshoian.

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