Underwater Mortgages Recede as Fresno County Home Values Rise

By
Real Estate Broker/Owner with Lazarus Realty

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 to get the properties.  Even so, he ended up with what we both believe to be great bargains.

One of the homes he purchased for $139k  I have leased for $1085.00 per month
Another home he paid $167k and I have just got it leased for $1495.00

The most recently purchased of the three was $125k and I am working on getting it leased for $1200.00 per month.

Comments (1)

Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Randy - The rising property values are resulting in fewer short sales as people "find" equity.

Jul 08, 2013 04:51 PM