market: 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)

market: 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)

market: California BUZZ... - 04/15/09 11:23 AM
West Coast haircut.  Golden State Clip.
 
Just how much have home prices been shorn in California?
 
A LOT!
 
Believe it or not in 2006 the median price of a home in California was $576,000.
 
California median home price as of February 09: $247,590
(Source C.A.R.)
 
 
Now that’s a haircut!
 
 




<<<---- CHART SHOWS MEDIAN PRICE OF CALIFORNIA HOME IN 2006
 
 
 
 
 
Homes prices are now entering into BARGAIN TERRITORY, assuming of course that the economy doesn’t go over a cliff.  In which case all bets are … (0 comments)

market: After The Biggest 5 Day Runnup Since the GREAT DEPRESSION - Its TANKS - GIVING DAY.... - 12/01/08 03:29 PM
After five consecutive days of gains and weekend that saw consumers pulling the doors off their hinges to spend...
we have today:
the market
TANKS
GIVING
back most of its gains.
AND YOU THOUGHT THE GREAT DEPRESSION OF THE 21ST CENTURY WAS OVER!
Not so fast cowboys and girls...
... its not looking good!
 
 
 
… (4 comments)

market: U.S. entered recession December 2007, panel says - 12/01/08 06:12 AM

Finally they see the light!
Accordingto this Reuters News Article the recession begain in December of 2007. This would make my declaration of the Official Beginning of the Recession about a month off. 
Why rely on these numbers crunchers to inform you a year after the fact?
 
 
Lazarus - Real Estate Broker and Financial Prognosticator Extraordinaire
… (3 comments)

market: Fresno California -- 24 HOUR -- Market Snapshot - 11/13/08 05:00 PM
These brief snapshots really help you get a feel for what is going on in the market. what you are seeing are the numbers for the last 24 hours on the Fresno MLS.
As you can see from the numbers in the graph below the ratio of price increases to price reductions tells the story as to where prices are going. We had 124 price reductions compared to 10 price increases. This is an imbalanced market and tells us that prices are continuing to be adjusted DOWNWARD.
We had 85 new listings and 44 back on the market for a total … (0 comments)

market: Fresno California Real Estate Market Update - 11/12/08 06:40 AM
Interesting article in the Fresno Bee today discussing the uptick real estate sales.  According to the article the same investors who sold property 2003 - 2005 and went to the sidelines are now coming back in.
Fresno Association of Realtors reports preliminary figures of  612 units sold in October Over half of  October sales (56%)  were foreclosures. The median price of a home is now $175,000 ( down 31% from a year ago) Go here for a chart of sales in Fresno  Clovis area
 
… (5 comments)

market: The Fresno Real Estate 2.5% Market Meldown - 08/16/08 07:37 AM
 
 
 
 
 
… (0 comments)

market: Children's Hospital - State of The Art Facility in California's Central Valley - 01/23/08 04:00 AM
Children’s Hospital in Madera California is truly one of the gems of California’s Central Valley. The hospital is perched right above the San Joaquin river basin just north of Fresno on hwy 41. I’m not a doctor or a hospital analyst but my layman’s guess is that this is truly one of the best - if not THE BEST - children’s hospital in the state of California. I pulled into the hospital the other day as the sun was setting and got these shots. They start at the entrance and then I went around the hospital clockwise. As I left I … (3 comments)

market: Lazarus IS the HUMAN SHOEHORN! - 01/18/08 08:23 AM
I remember seeing one when I was young and not knowing what it was.  "What's this?" I asked.  "A shoehorn" was the reply.
 "What's it for?"
"It helps you get your shoes on."
How fascinating, something that was designed to help one get their shoes on when all you really need to do is stick your foot in your shoe and tie and knot  - what could be simpler than that? And what could be more useless than a shoehorn? (Thought I).  It never occurred to me when I was younger that putting on my shoes would one day be a chore!   … (0 comments)

market: Official beginning of the Recession… - 01/14/08 04:22 AM
I am marking today’s date, January 14th 2008, as the official beginning of the recession.  I’m certain it is because just a little while ago I was headed to Starbucks to buy some coffee for the office and just when I would have turned left to go into the SBUX lot I turned right instead and went into Savemart - yes, you heard me right: Savemart.  I decided I would buy some Folgers instead.
Gosh, how long has it been since I have bought Folgers?  So long I didnt even recognize their new packaging.  I remember a metal can; now its … (3 comments)

market: Fresno CA Real Estate Market Update - 01/13/08 05:28 PM
Well I just saw a news report that said the the median price of Fresno homes in December was $249,000.  In the update for November the median price was at $255,000 so the market saw another dip ~~~~~YAWN~~~~~ .
As a reminder the peak was June of 2006 with a median price of approx $314,000 so prices are down approx 22% from the highs.
… (0 comments)

market: More Fresno Real Estate Market Statistics from Lazarus - 12/17/07 02:02 PM
I just added a link on my website that gives the MLS marketing data from 2000 to the present.  It is titled:
Fresno MLS Historical Data January 2000 – November 2007 
The file is in PDF format Fresno Association of Realtors.
It contains lots of statistical information and the following graphs:
Median List Price to Median Sales Price ComparisonNumber Of Sold Listings By MonthAverage Days on Market (DOM)  Take a look.
 
If you're looking to buy or sell real estate in Fresno, Call me, I can help.  559.301.1647
R. "Lazarus"  McAteeBroker/Owner Lazarus Realty
 
 
 
 
… (0 comments)

market: Fresno Market Statistics - 12/05/07 01:26 PM
THE GOOD NEWS:
According to the information provided by The Office of Federal Housing Enterprise Oversight (OFHEO)
in their LAST REPORT
Property values in Fresno CA increased 97.52% in the last 5 years.  Fresno is actually way up there in the ranks for home appreciation [ mostly because prior to the run up prices were so depressed]. 
THE BAD NEWS:
According to the same report Fresno Housing Prices gave up 2.62% in the last quarter and 5.74% for the year.  Those numbers, however, conflict with the those reported in the Fresno Bee, Sunday DEC 2, 2007 (Real Estate Section - page D2) where numbers from … (2 comments)

market: Pricing Trend - 11/29/07 01:58 PM
Here are statistics provided by the National Association of Realtors that have been compiled into a legible format by an investor from another online forum I belong to :
 
Sales Median Price Inventory Months(Millions) (Thousands) (Millions) Supply2004 5.958 $195.2 1.970 4.32005 6.180 + 3.7% $219.0 +12.2% 2.390 4.4 + 2.0%2006 5.677 - 8.1% $221.9 + 1.3% 2.920 6.4 +45.5%2007 5.095 -10.3%* $217.5 - 2.0%* 3.558* 8.5 +32.8%*---------------------------------------------------------------------------2007 Sales M/M Y/Y Price M/M Y/Y M/M Y/YJan 5.670 +3.1% $209.3 -5.2% 3.050 6.5 + 4.5% Feb 5.880 +3.7% $212.4 +1.5% 3.190 6.5 + 0.0%Mar 5.350 -9.0% $216.2 +1.8% 3.220 7.2 +10.8%Apr 5.240 -2.1% $219.3 … (3 comments)

market: Want More Information On The Housing Market Than You Can Digest? - 11/29/07 11:34 AM
Go to the Office of Federal Housing Enterprise Oversight (OFHEO) Website.  They just released a report TODAY!  This 89 page report is in PDF format and includes chart, graphs, and tables of housing data for states and every major metropolitan region.  IT'S JAMMED PACKED WITH INFORMATION!
YOU WILL FIND THE REPORT ON THIS PAGE (CLICK HERE) 
 
… (4 comments)

market: So You Want To Be A Landlord. Part II Story 5 and 6 - 11/26/07 01:34 PM
Part II  Story 4
Story 5
These two stories are being told together for three reasons:
The properties were right next door to each other They both took place around the same time They were similar in nature I had a tenant that ceased making rent payments.  No other problems, just no rent.  I went through eviction and the tenant left prior to the eviction date.  When I went down to check on the house, I opened the door and there was water: EVERYWHERE!
The water was running in the kitchen sink, only the trap underneath the sink had been ripped out.  … (1 comments)

market: Fresno Real Estate Broker Takes On Market Singlehanded!!! - 11/20/07 02:13 PM
Fresno's Foremost Blogging Broker has his left hand in a cast and is lamenting has decided to take on the market AND the Blogosphere SINGLEHANDED.   
That's right folks!Just because I am unable to type at the speed of thought while my hand recovers doesnt mean I have to cease blogging.  I AM HANDICAPABLE! I will continue to blog.  I will learn to compensate: condense thoughts; type faster with the hand i DO have..  
THE CUP IS HALF FULL. I STILL HAVE ONE HAND! 
I CAN at least write blogettes.
One thing is certain, having only one hand DOES NOT effect my ability to … (2 comments)

market: Guarantee Real Estate Threatens former Associate With Collection or Legal Proceedings... - 11/17/07 03:00 PM
Fresno Real Estate Market. 
DESPERATE TIMES REQUIRE DESPERATE MEASURES.
On Thursday (Nov 15, 2007) I received  letter from my former broker, Guarantee Real Estate, where I hung my license from Nov of 2002 to May of 2006.  The letter was signed (and I assume written) by one Brian K Cuttone, Vice President and General Counsel.  As far as I know it is the only correspondence they have ever sent me since I left the company in May of last year.
I left on good, no I would up that to,  excellent terms with the company, in particular with my managing broker at the … (5 comments)

market: Fresno CA Real Estate Market Update - 11/08/07 10:42 AM
Sales Statistics for the month of October 
Down,Down, Down She Goes - and where she stops, nobody knows!
It would be nice to be able to report an improvement in the numbers, but that's just not in the cards.  The Fresno Market has a large (HUGE) supply of unsold inventory on the MLS which is only aggravated by large numbers of unsold new homes by the builders.  Builders are offering substantial incentives to attract buyers.  I received a correspondence from a broker representing D. R. Horton informing of builder incentives of $40,00 to $60,000  with an additional $10,000 towards closing cost and very … (0 comments)