We have 45 new listings and in the last 24 hours 64 homes have gone into contract. The market is highly in favor of Sellers… that is, the ones who are ABLE to sell. Still a lot of folks underwater. I recently helped an investor purchase 3 homes: Two traditional sales and one short sale. On both traditional sales there were MULTIPLE OFFERS and my Buyer had to pay over the ask … (1 comments)
lazarus: Fresno Real Estate Inventory Drying Up.
- 12/13/12 08:33 AM
I've been noticing for quite some time the dwindling inventory in the Fresno Real Estate Market. Listings are being out numbered by pending sales at a significant clip. This is what I saw when I logged on to the MLS today.
This means over twice as many homes went into contract (Pendings =52) in the last 24 hours then came onto market (New Listings = 23) Its a trend I have been observing for quite some time which perhaps is now exacerbated by the Holiday Season. The other factors I think influencing this market imbalance is a slowdown in foreclosures … (1 comments)
I’m sure some people may think: “why does he post negative news about Fresno if he wants to sell people property there?” Good question. Yes, I do want to sell people property. Those stuck in Fresno (.com) because of family, job, or whatever need housing and I’m hear to help them but … (2 comments)
lazarus: Major Home Builder Agrees With Little Known Real Estate Broker
- 11/19/09 05:37 AM
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 … (0 comments)
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! … (0 comments)
lazarus: Horseback Riding in Fresno
- 06/23/09 10:53 AM
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.
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lazarus: Two Blog Referrals This Week
- 06/23/09 08:02 AM
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.
… (1 comments)
lazarus: More Captures From The Tarangini Indian Dance Performance
- 05/19/09 03:52 PM
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
… (0 comments)
lazarus: Alan Greenspan Addresses National Association of Realtors Midyear Meeting
- 05/15/09 11:35 AM
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 … (2 comments)
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.
… (8 comments)
lazarus: A Taste of India: The Tarangini-Indian Dance Ballet performs in Fresno California
- 05/04/09 01:15 PM
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 … (2 comments)
lazarus: Fresno Now California's Fifth Largest City...
- 05/01/09 11:27 AM
... and you thought this was just a podunk hick-town full of raisin farmers. NOT! According to the latest statistics released yesterday by the Department of Finance Fresno's population grew by 10,578 people in 2008. That was enough to bump the city up over Long Beach and make it the fifth largest City in the State with a total population of 495,913. TOP 10 CITIES IN CALIFORNIA California's 10 most populous cities as of Jan. 1, 2009, with percentage of growth since 2008:
1. Los Angeles, 4,065,585, 1.1% 2. San Diego, 1,353,993, 1.5% 3. San Jose, 1,006,892, 2.2% 4. San … (0 comments)
lazarus: Fresno Ca --- 24 Hour Market Update
- 04/30/09 07:25 AM
Stats show home sales picking up. In the last 24 hours we have 56 New Listings and 19 Back on the Market. Thats 75 properties on the SELL SIDE During that same 24 hour period we are showing 24 Contingents and 71 Pendings. Thats 95 properties on the BUY SIDE. That's a great balance of inventory because its CERTAIN that many of those Pending / Contingent sales will not close for one reason or another. Speaking of CLOSINGS -- we had 39 CLOSED transactions. So buyers are out there. Weather is nice. School is just about out. PEAK BUYING SEASON. There … (0 comments)
lazarus: What If The Contractor You Hired Is No Longer In Business?
- 04/29/09 05:10 PM
Fresno California When your purchasing a home there is a good chance that either your agent or the agent may hire a contractor to do work on the home prior to closing. Contractors in California (and probably most other states) don't need to be well capitalized in order to start up a business to begin with. They are only required to have to have $2500.00 in liquid assets, so its no surprise that so many of them go under, especially in this market. So what do you if the contractor that was hired to do work on the home is no … (1 comments)
lazarus: Fresno Ca Real Estate Market Bleet
- 04/28/09 05:16 PM
Was busy doing showings this afternoon in an area where sales have been brisk. The volume of REOs in this particular neighborhood has been so high that I noticed prices drop 10% in a matter of about 2 or 3 months. I noticed a lot of homes with non-mls lock boxes --- meaning that the homes are being foreclosed on and will be coming to market soon. Looks like another wave of homes is set to hit the market soon. I spoke with my insurance agent today who told me there were 6 pages of NODs (Notice of Default) in the … (0 comments)
lazarus: The HILLS ARE ALIVE!!!
- 04/25/09 03:11 PM
I took this picture last year around this time and I don't believe I shared it here on AR. Its a cousin to my background pic on my profile page. Please feel free to comment. Oh, and if you're interested in purchasing property in the vicinity call me: I have 21+/- acres available for sale.
Here's a brief video describing the property. Price = negotiable. Its not listed. I am the owner.
Read the recent article from the Fresno Bee HERE
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