Fresno California Real Estate Market

Foreclosures: Prime Borrowers Are The Latest Victims

Lazarus Realty — Thu, 19 Nov 2009 18:12:52 -0600

Foreclosures: Prime Borrowers Are The Latest Victims.

Prime Borrowers = people like you and me.

I have one client who, until recently had excellent credit, and lives in a 3000+ sq. ft. — 5 bd. / 3 ba– home, which will soon be the property of the bank. His retail business hasn’t just slowed, it’s fallen off the cliff. The retail mall he is in is becoming a ghost town. He has days when the cash register does not even ring.
He asked me to sell a small (around 800 sq. ft) 2 bedroom 1 bath rental that he owns free and clear and I was able to convince him to keep it.

He has taken my advice and is currently renovating the property and preparing to move into it. Its a HUGE step down for him but I told him that when he’s done he will have the envy of many-a-man in Fresno (including me); he will be living in a home he can call his own which places him among a small minority.

He isnt going to have those $3000.00 a month payments to make. HOW SWEET IS THAT!

Major Home Builder Agrees With Little Known Real Estate Broker

Lazarus Realty — Thu, 19 Nov 2009 13:37:00 -0600

Back in April I called:

FHA – THE NEW SUPRIME LENDER

Now I'm not alone.

Toll Brothers Inc. Chief Executive Officer Robert Toll said. “Yesterday’s subprime is today’s FHA,”

It's crazy!

It's OBSCENE!

A first time home buyer puts in an offer for quarter of a million dollar home, puts up $8750.00 and asks the seller (more often than not: A BANK) to pay the closing costs. Closes on the the home then gets a $8,000 tax credit.

Assuming you have the credit and income, buying a $250,000 home today is almost without risk and can be done almost entirely using OPM (other people's money)

BUYER HAS NO SKIN IN THE GAME ON A QUARTER OF MILLION DOLLAR HOME!!

THIS MAY BE GOOD NEWS FOR BUYERS, BUT IS IT REALLY GOOD FOR AMERICA???

What do you think?

Wordless Wednesday -- which is actually now Thursday...

Lazarus Realty — Thu, 29 Oct 2009 02:59:42 -0500

... I'm up late with a toothache :(

Civil War Revisited

Lazarus Realty — Mon, 05 Oct 2009 12:23:20 -0500

Saturday and Sunday the Valley Historical Society had its annual Civil War Revisited in Kearny Park. Yesterday I attended for my very first time. I went for the 2:30 event after church. I was really tired when I got there but once those cannons started firing my fatigue fled. Below are a couple of my favorites captures. If you would like to see more, click here to go to my website.

WELLS FARGO'S IMPLODING LOAN PORTFOLIO

Lazarus Realty — Fri, 04 Sep 2009 12:10:34 -0500

JUST CLICK TO VIEW

GRUESOME!

Wordless Wednesday - my granddaughter

Lazarus Realty — Wed, 02 Sep 2009 02:19:22 -0500

More Juicy Statistics on Commercial Real Estate than the Average Joe Can Swallow

Lazarus Realty — Wed, 02 Sep 2009 00:41:14 -0500

Its Been a Beautiful Summer --- and as much as I feel its important to blog, I dont care to feel OBLIGATED.

-- I'M BACK ... and I am going to offer you a link to some Commercial Real Estate Statistics that are very FUGLY!

CLICK HERE

COURTESY OF THE COMMERCIAL MORTGAGE SECURITIES ASSOCIATION.

If you're bore by stats and graphs -- don't bother with this one. But if you are curious about the current state of the Commercial Real Estate Market, then have at it!

IRS Succesfully Prosecutes First-Time Homebuyer Credit Fraud

Lazarus Realty — Wed, 29 Jul 2009 14:53:24 -0500

If you're thinking of cheating on your taxes by applying for the First-Time Home Buyer Credit -- BEWARE.

Today the IRS released news of its first succesful prosecution of fraud for doing so and the perp, who happens to be tax preparer, faces the possibility of up to three years in jail, a fine of as much as $250,000, or both.

Ain't worth it folks.

Read the press release from the IRS website: CLICK HERE

Wordless Wednesday

Lazarus Realty — Wed, 29 Jul 2009 13:01:56 -0500

Have We Dodged THE GREAT DEPRESSION OF THE 21st CENTURY?

Lazarus Realty — Mon, 27 Jul 2009 14:26:17 -0500

In a former blog I proclaimed we were in the beginning of the Great Depression of the 21st Century. [ GO HERE TO READ BLOG ].

Recent economic data indicates we are are on the cusp of a recovery, the only question is what kind of recovery. [ GO HERE FOR THE LATEST ECONOMIC DATA ].

For now, I'm going to stick to my guns. I'm more inclined to believe we are in the eye of the storm then OUT OF THE STORM. If so, what is to come, can wreak greater financial havoc than what we've witnesses so far.

The Treasury is set to auction off 235 Billion this week and rates are creeping up.

Will bidders continue to buy, buy, buy?

if not -- the dollar will go bye, bye, bye.

Prices for homes in Fresno are looking attractive for investors provided rents stay relatively stable. I'm personally scouting for some deals.

		Direct: Fax:	559.301.1647 559.438.7475
Website	Visit My Blog	email
1319 W Bullard #4 -- Fresno CA -- 93711
© Randy "Lazarus" McAtee

Horseback Riding in Fresno

Lazarus Realty — Tue, 23 Jun 2009 17:53:05 -0500

Just got in from horseback riding. Weather is absolutely perfect. In my 22 years in Fresno this has to be the nicest summer weather I have ever experienced. PERFECT weather for the equestrian. I am SO in touch with my inner cowboy! My little pony never broke a sweat.

FORECLOSURE FRUSTRATION: Graffiti on the Walls

Lazarus Realty — Tue, 23 Jun 2009 15:46:48 -0500

I dont know about you but I am often fascinated by the graffiti and poetry I find on the walls of foreclosed homes. The other day I was showing a home and got this image on my cell phone.

Here is the what I got:

Here it is with a little Photo Shop to make it POP:

WHAT DO YOU SEE?

Want to buy a foreclosed home in Fresno?

Are you a frustrated homeowner facing foreclosure? Do you want to paint your walls? *Call me today for a free set of water color paints.

Direct:
Fax:

559.301.1647
559.438.7475

Website

Visit My Blog

1319 W Bullard #4 -- Fresno CA -- 93711

*kidding of course :)

Two Blog Referrals This Week

Lazarus Realty — Tue, 23 Jun 2009 15:02:08 -0500

Proof that I need to keep my blog alive. It's summer though and that's not easy. It seems as though just about every weekend is booked with wedding, family reunion, or some sort of get together. I've been trying to get up to Yosemite and that hasn't worked out yet either. The day my wife and I scheduled to go up there she didn't feel well.

Title Insurance NIGHTMARE!

Lazarus Realty — Wed, 17 Jun 2009 01:01:14 -0500

Check out this video of a gal who has never been late on her house payment yet is being foreclosed on. Pray you dont ever have to make a claim against your title insurance because the title insurance industry is one of the biggest rip-offs there is and the hell of it is you are forced to buy it just about every transaction.

In 2003, according to ALTA, the industry paid out about $662 million in claims, about 4.3% percent of the $15.7 billion taken in as premiums.

Direct:
Fax:

559.301.1647
559.438.7475

Website

Visit My Blog

1319 W Bullard #4 -- Fresno CA -- 93711

Foreclosure Prevention Workshop Offered in Fresno

Lazarus Realty — Fri, 05 Jun 2009 13:10:12 -0500

There will be a foreclosure prevention workshop June 11 at the Fresno Convention & Entertainment Center.

The workshop is from 2 p.m. to 8 p.m. in the exhibit halls at the center at 848 M. St. in downtown Fresno. The event is free, although parking is $7.

The session offers troubled homeowners an opportunity to meet their mortgage servicer or housing counselors face-to-face in an attempt to understand their options or devise a plan to save their houses.

The workshop is the product of HOPE NOW, an alliance of lenders, counselors, investors and others; The Federal Reserve Bank of San Francisco; and NeighborWorks America, which helps low-income families find housing.

CLICK HERE FOR MORE INFORMATION

		Direct: Fax:	559.301.1647 559.438.7475
Website	Visit My Blog	email
1319 W Bullard #4 -- Fresno CA -- 93711
© Randy "Lazarus" McAtee

Fresno Meet in the Middle 4 Equality Rally

Lazarus Realty — Wed, 03 Jun 2009 18:26:03 -0500

Fresno Meet in the Middle 4 Equality Rally

May 30th, 2009

Off Topic: Meaning this has nothing to do with the Fresno Real Estate Market.

I went downtown on Saturday to check out the Revfest at the Fulton Mall and on the way there I saw huge crowd gathered so I decided to check out what was going on. What was going on wast the Meet in the Middle Rally.

I figure I better post these pictures before they become obsolete.

Click the box in the lower left corner if you would like to see the slide show with my captions.

Proudly serving Fresno's Hetrosexual, Metrosexual, Homosexual, & Transgender population: EVERYONE :)

		Direct: Fax:	559.301.1647 559.438.7475
Website	Visit My Blog	email
1319 W Bullard #4 -- Fresno CA -- 93711
© Randy "Lazarus" McAtee

Bargain Hunters Snap up Fresno Homes

Lazarus Realty — Fri, 22 May 2009 22:28:20 -0500

.... so says an article in today's Fresno Bee. And its true, and I have to admit that I have been behind the curve on market reporting but hope that will change. Its actually difficult to blog all that you would like when you're busy transacting business. Don't get me wrong, I haven't been THAT busy, but the beginning of the year is off to a much better start than last year.

Some of the salient statistics from the article:

banks were the biggest sellers, responsible for 60.5% of the transactions in Fresno County

Fresno's foreclosure rate -- reflecting the percentage of households in default -- ranked 11th in the nation last month, according to RealtyTrac, and some experts predict another surge of foreclosures this summer.

The median price in Fresno County fell 7.1% in April to $130,000 after climbing 9.6% in March, the first uptick in 13 months, according to DataQuick

About 77% of all households in Fresno County can afford an entry-level home, according to the California Association of Realtors.

As I mentioned not long ago, there are days now when i am actually seeing more homes going into escrow in a day than coming onto the market.

If you are looking to buy in the Fresno Clovis area feel free to search our MLS and give me a call and put me to work for you.

ps... you can specify white shirt and tie :)

		Direct: Fax:	559.301.1647 559.438.7475
Website	Visit My Blog	email
1319 W Bullard #4 -- Fresno CA -- 93711
© Randy "Lazarus" McAtee

More Captures From The Tarangini Indian Dance Performance

Lazarus Realty — Tue, 19 May 2009 22:52:20 -0500

This is a follow up to a recent blog I wrote about the Tarangini Indian Dance that was performed in Fresno CA on May 2, 2009. I only shared 2 pictures but now I have an entire gallery of images from the dance performance.

CLICK HERE TO VIEW

		Direct: Fax:	559.301.1647 559.438.7475
Website	Visit My Blog	email
1319 W Bullard #4 -- Fresno CA -- 93711
© Randy "Lazarus" McAtee

Fresno CA And The Economic Stress Test

Lazarus Realty — Mon, 18 May 2009 15:56:27 -0500

The Associated Press recently released a map measuring the amount of economic stress being endured by each county in the nation.

CLICK HERE TO VIEW

As you can see, All of California has been hit hard and Fresno is no exception.

		Direct: Fax:	559.301.1647 559.438.7475
Website	Visit My Blog	email
1319 W Bullard #4 -- Fresno CA -- 93711
© Randy "Lazarus" McAtee

Alan Greenspan Addresses National Association of Realtors Midyear Meeting

Lazarus Realty — Fri, 15 May 2009 18:35:42 -0500

Why the National Association of Realtors would hire the most prominent architect of the Housing Bubble to speak at their midyear meeting is totally beyond me understandable: they want to hear some someone "talk their book". Greenspan certainly has the credentials. His management of our nation's money supply fueled the bubble and lined the pockets or Realtors. How can they not love and revere him?

I was particularly intrigued when I heard him say "We are finally beginning to see the seeds of a bottoming" which he immediately followed up with "NOT IN PRICES YET" Folks, I would take that as a WARNING: we have not seen the bottom yet. Yes, a bottom of sorts has formed and we have been bouncing along it, but the possibility of a ledge (or cliff) before us still exist.

Bear in mind this is the same Greenspan who said" "“I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out,” in Oct of 2006

Lost Vegas

Lazarus Realty — Fri, 15 May 2009 16:58:33 -0500

From Mortgage Business to Pole Dancer....another very depressing video on the housing bust.

CLICK HERE TO VIEW

19 Million Homes Vacant In US

Lazarus Realty — Wed, 13 May 2009 12:39:30 -0500

In Feb Bloomberg reported -- A record 19 million U.S. homes stood empty at the end of 2008 and homeownership fell to an eight-year low as banks seized homes faster than they could sell them.

They also said: the report counted 4.1 million vacant homes for rent and 4.8 million seasonal properties.

read the full report here.

Here is an sobering panoramic shot of an entire street up one side and down the other with each home on the street stitched together.

CLICK HERE

then

CLICK HERE

These are large images so give them time to load. After the image loads you may need to click it to enlarge.

The guy who took the pictures said it looked like two of the houses were occupied. It looks to me like the entire neighborhood needs to be dozed.

Feel free to comment. What do you think?

The Ducklings Have Hatched

Lazarus Realty — Mon, 11 May 2009 17:33:43 -0500

Not long ago I blogged about the ducks that took up residence in our pool. Shortly thereafter my wife found an egg at the bottom of the pool. Apparently their nest was not far from the pool (probably hidden in the bushes) because this morning I went out and saw mamma duck with her ducklings. In the pool of course.

Bankers Crunch The Numbers -- Then CRUNCH THE HOUSES

Lazarus Realty — Tue, 05 May 2009 17:37:39 -0500

Here's the latest on the California Housing Crunch. Bankrupt builders are leaving their creditors with nearly finished homes. The banks, already upside down in the deals no they can never recoup their losses so the demolish the homes as you see in this video below.

Unfortunately the demolition makes sense because the besides finishing the homes the banks would likely be obligated to complete the streets, sidewalks, curbs, gutters, and all the rest of the neighborhood infrastructure. Very sad, especially in light how many people don't have a proper roof over their head.

A Taste of India: The Tarangini-Indian Dance Ballet performs in Fresno California

Lazarus Realty — Mon, 04 May 2009 20:15:22 -0500

Saturday at Sunnyside High School. The event was sponsored by the Central California Cultural Society of India.

I was under the weather all last week with a cold or allergies and on Saturday I finally felt well enough to get out and do something so I browsed the Fresno Bee online and found the advertisement for the event.

See Photos Below

I will admit that when I read this: Music composition is done using a sixty-piece orchestra and is presented in full stereophonic sound. I took it to mean there was going to be a live orchestra. Wrong. Just a recording. But the dancing was stunning and offered LOTS of camera candy. BTW, I called ahead of time to be sure that photography would be allowed because anyone who likes to shoot these kind of events knows that it often IS NOT.

Afterwards my wife and I went to the North India Bar and Grill in Clovis for dinner (perhaps another blog?)

Here are two of my favorite captures from the event.

Captured with a Nikon D300 using a Nikon 70/200 2.8 lens

		Direct: Fax:	559.301.1647 559.438.7475
Website	Visit My Blog	email
1319 W Bullard #4 -- Fresno CA -- 93711
© Randy "Lazarus" McAtee