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)
reos: 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)
reos: 20 Cities You Don't Want to Live in ...Yet....
- 03/22/11 04:22 PM
Fresno made the list on this CNBC report. http://www.cnbc.com/id/42135402?slide=17 On a positive note, we didnt make the "bedbug infestation list" Sometimes I do wonder WTF I'm doing here and if it wasnt for the majority of our 6 kids being here.... I'd probably exit stage right. BUT THAT'S JUST ME. Need to buy or sell a home in Fresno??? Call me: 559 - 301 - 1 6 4 7 … (2 comments)
I have often said that we hit a bottom but I wasnt sure if we would bounce along the bottom and go up or bounce along the bottom and drop off a cliff. Here’s an opinion from someone smarter than me: Nouriel Roubini: Real Estate Is “For Sure” Double Dipping, And Another $1 Trillion In Losses Is Coming. There's a reason they call him DR. DOOM! … (2 comments)
reos: Fresno Price Reductions Inspire Broker to Blog....
- 08/31/10 09:15 AM
Ok, I know I have been absent from the blog scene but I just read an agent's comment on an MLS listed home that compelled me to hit the keyboards. The comment: "VERY cooperative and creative seller" My questions to the agent would be, if the seller is so cooperative how come the home has been on the market for 664 days? How come the price has only been reduced by $27,500 in that time? For those looking to sell in Fresno - its a TERRIBLE market for selling. For those looking to buy - its looking better (provided you have … (0 comments)
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 … (0 comments)
reos: Fresno Meet in the Middle 4 Equality Rally
- 06/03/09 11:26 AM
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. … (0 comments)
reos: Bargain Hunters Snap up Fresno Homes
- 05/22/09 03:28 PM
.... 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 … (1 comments)
reos: Fresno CA And The Economic Stress Test
- 05/18/09 08:56 AM
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.
… (0 comments)
reos: Bankers Crunch The Numbers -- Then CRUNCH THE HOUSES
- 05/05/09 10:37 AM
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. … (0 comments)
reos: 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)
reos: 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)
reos: 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)
reos: CLOSED.... My First Short Sale
- 04/09/09 03:42 PM
Cha Ching!!! Finally manage to have a closing on a “short sale”. In case you dont know what a “short sale” is, its when the lender is willing to accept an amount less than the full price owed on the mortgage. A couple of years ago in Fresno the close rate on short sales was VERY low. Overtime this has changed and now the lenders seemed to be more agreeable to accepting a short sale. It makes goood sense to me. Foreclosures are very costly and from my experience the offers that are made when a property is in … (5 comments)
reos: GOT PASTA?
- 03/06/09 03:37 AM
I spoze if I'm going to announce the beginning of the Great Depression of the 21st Century I should offer some advice on how to survive it.
… (2 comments)
reos: WELLS FARGO DOWN 25% ....
- 02/20/09 05:05 AM
...as the Great Depression of the 21st Century Begins... ...Stock is now trading at $9.15 after dipping under $9.00. Thus Wells Fargo joins GE as a penny stock. I might add that I used to bank with Wells Fargo but when I tried to get a loan for a used car ( a piddly $4000.00) they turned me down. I went to B of A and they gave me money for 3 cars. I switched to B of A.
UPDATE: WFC is now $11.14 -- Did I call the bottom? Is Lazarus a Contrary Indicator? ( I dont think so … (9 comments)
reos: Fresno's Halloween Hillbillies
- 10/14/08 02:31 PM
I went up to Huntington Lake over the weekend and passed through the foothill town of Auberry where I got these pics.
Personally, I'm at ONE with the Hillbillies. I have a daughter and son-in-law who live in Prather (next door to Auberry). If you are interested in buying property in the Fresno foothils, call me @ 559-301-1647 and let me help you find a property. There are several several foreclosure properties on the market in the Prather, Auberry, Tollhouse region. … (6 comments)
Read the recent article from the Fresno Bee HERE
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