short sales: Underwater Mortgages Recede as Fresno County Home Values Rise - 07/08/13 03:29 PM
Read the recent article from the Fresno Bee HERE
Simply put – inventory is TIGHT
How tight you ask?
Take a look at todays 24 HOUR MARKET WATCH

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)

short sales: 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)

short sales: Real Estate Is “For Sure” Double Dipping … - 12/06/10 08:35 AM

 
 
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)

short sales: Borrowers Got Liars Loans - Banks Get Liars Forelosures - 10/18/10 02:40 PM
The revelations just keep getting worse.
'Foreclosure Mill' Employees Got Gifts For Altering Documents, Witness Says.
SNIP:
At a large Florida "foreclosure mill," a manager signed up to 1,000 documents a day without reading them and employees were given gifts to speed up foreclosure paperwork, according to depositions released today by the Florida Attorney General's Office.
... so its tit for tat
 
 
 
 
 
 
 
… (1 comments)

short sales: 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)

short sales: FORECLOSURE FRUSTRATION: Graffiti on the Walls - 06/23/09 08:46 AM
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: … (2 comments)

short sales: 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)

short sales: 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)

short sales: Facing Foreclosure? Dont Know What to Do? - 11/11/08 09:12 AM
First of all, you're not alone. Hundreds of thousands of households all across America are facing foreclosure.  
 
First: BEWARE  OF  FORECLOSURE SCAMS.
I had a homeowner call me recently that asked for help in retrieving the money she gave to a company to save her home from foreclosure.  The company that took her money did absolutely NOTHING.  Realtors© are NOT ATTORNEYS and cant help you after you have been scammed.  Report the scammer to the police and have the local District Attorney help you.
Second: Know that there is help available through legitimate non-profit orginizations.  I suggest Neighborhood Works, " … (1 comments)

short sales: Short Sales cannot proceed unless Lenders cooperate with Buyers - 06/19/08 09:02 AM








Short Sales cannot proceed unless Lenders cooperate with Buyers
 
...and their agents. In a previous blog I gave an example of an offer that I made on behalf of an investor on a Short Sale. It was an ALL CASH OFFER that was rejected by the lender. A few months later after the home went through foreclosure the home was listed at LESS THAN THE CASH OFFER and probably went into escrow for substantially less than the list price. About 5 weeks ago I made another offer on a Short Sale and … (7 comments)

short sales: Clovis Home For Sale - Exclusive Offering by Lazarus Realty 559.301.1647 - 12/07/07 10:14 AM
NEWER HOME * CLOVIS SCHOOLS * GATED COMMUNUTY * Price to sell at $286,670 !!
This 4 bedroom 2..5 bath home is located in the gated European Parc community. Immaculately maintained, and built in 2004, this home features a formal dining room, family room with gas fireplace, and living room in 1970 sq. ft of living space. The master bedroom has its own large master bath with separate tub and shower, and his and hers walk in closets. It has an alarm system and all the appliances go with it, including the washer and dryer. Call Lazarus today to schedule a showing: … (0 comments)