Clovis News

July 17, 2014

Heinrich ranch in Clovis for sale for $11.9 million

Ever wonder what's behind that ornate iron gate along Tollhouse Road, northeast of Clovis, on the way to Auberry?

Ever wonder what's behind that ornate iron gate along Tollhouse Road, northeast of Clovis, on the way to Auberry?

It's the Heinrich Ranch, a 2,000-acre property complete with horse-training facility, a nine-hole practice golf course, grazing land for cattle, a helicopter pad, a soft runway for airplanes, a late 1800s historical wagon station and a deeded gold mine.

Oh, and there's a 9,770-square-foot Mediterranean-style house built in 1992.

The property is for sale. The cost: $11.9 million.

Buy the entire thing or sell it off later in pieces, said Chris Fitzpatrick, owner of Pacific Land Corp., the broker selling the house.

Fitzpatrick declined to identify the owners or say why they are selling, but property records show that it is owned by Rodney and Dana Heinrich. The Heinrich family is the founder and original owner of Pelco, the maker of surveillance equipment now known as Schneider Electric.

A long winding road behind the front gates leads to the six-bedroom, seven full-bathroom and two half-bath house that sits on a hilltop with views of the Valley.

In addition to a formal living room, dining room, a gourmet kitchen and a library, the house has a 2,000-bottle wine cellar and a gym. A pool and spa overlook the rolling hills.

The ranch has a 4-acre bass pond, a professional horse-race track, lab office and barns with space for 38 horses. There are irrigated pastures, a metal shop with car lift, and boat and car storage.

If the property sells this year it would become one of the most expensive homes sold in the area, said Joe Sciarrone, of London Properties, who sold four of the area's five most expensive homes last year.

In 2013, the most expensive house sold was a $2.8 million home on Reno Avenue, north of Clovis, near the foothills.

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Relief for homeowners

California will get a nearly $200 million bite out of a $7 billion national settlement with Citigroup over mortgage-backed securities the bank sold before the financial crisis.

Part of the settlement includes $102.7 million in damages that will reimburse the state pension funds, CalPERS and CalSTRS, Attorney General Kamala D. Harris announced on Monday.

California is also guaranteed at least $90 million in consumer relief.

"Citigroup misled consumers and profited by providing California's pension funds with incomplete information about mortgage investments," Harris said in a news release. "This settlement holds Citi accountable and compensates the state's pension funds that protect the retirement savings of hard working Californians."

Slowdown in home price gains

The double-digit home price increases seen in Fresno County and across the state over the last year could become a thing of the past.

The median home price of an existing home in Fresno inched up in June, but has slowed considerably to only a 0.8% increase to $201,080 from $199,540 in March, according to the California Association of Realtors.

In May, Fresno's home price increased by 3.5% to $199,540 from $192,880 the month before.

Don't worry. That's not a bad thing, the experts say.

"Home prices are finally increasing at a healthier pace," said Leslie Appleton-Young, the association's vice president and chief economist. "The smallest year-over-year price gain in more than two years suggests that prices are stabilizing."

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