12-29-2014
As I look back to the Fresno and Clovis real estate market around 2006 – 2007 ,
there was a buying spree that drove prices to new highs. And as we all know, what
followed impacted most of California and the country; it was called the “Great Recession.”
First houses stopped selling, followed by prices declining and then foreclosures began
piling up as […]
9/29/14
The most recent article from PropertyRadar.com, indicates that home values and sales volume for California homes are slowing down.
This negatively affects two groups of homeowners: those who would like values to continue to grow because they owe more than there house
is worth and those who need to sell there home right away. This slowdown has been our experience here […]
9/19/2014
I published this article on my blog a while back, for those needing to sell it’s worth reading. One of the CONS mentioned is the risk of being taken by a scam artist. See the article and my comments below.
Jan Weston
Forbes magazine has an interesting article with the above title: It goes into the pros and cons of selling […]
8/22/14
The Business Journal posted an article summarizing the condition of the housing market for distressed properties; those sold at a short sale, foreclosure, and bank owned properties. For June, in Fresno County 17% of all properties were sold as “distressed” in June 2014. The state wide amount for California stood at 9.7%.
Historically, and I believe it holds true now, […]
7/28/14
The state of California recently passed Assembly Bill 1393 that says there are no state tax consequences if you have a home where the debt was cancelled or forgiven by the lender due to a principal reduction from a loan modification. Say for example you renegotiated the loan on your house and the lender reduced your principle balance by […]
11-6-2013
A lot of our business comes from parties who have a need to sell there house quickly. These include those who owe more on their home than they’re worth, some who are being foreclosed upon, and others who have a home needing many repairs. Because we have cash to buy and the ability to purchase quickly, buyers come to […]
7/23/14
The Business Journal, a central valley news organization, reports amongst other things that distressed sales
of homes in Fresno County amount to 17% of all sales for the month of June, about the same as May. However,
that’s much better than a year ago, 36% of all sales were distressed sales.
The Fresno County market continues to get better, albeit slowly. There […]
6/25/14
Fannie Mae, an abbreviated name for the Federal National Mortgage Association, and a huge mortgage purchaser in
the housing industry expects housing sales and prices to cool down this year. Existing home sales fell
in the 1st quarter and rose in April and May, 2014. They are expecting existing home sales to be down
by 2.4% for all of 2014 and new […]
The Business Journal, a local paper, indicated that just under 25 percent of all houses in the Fresno Metropolitan area have negative equity; meaning the owner owes more than what their home is worth. That’s a large drop from 2012.
This, I think, is a reflection of the increased appreciation in property values over the last year. That’s good news […]
Forbes magazine has an interesting article with the above title: It goes into the pros and cons of selling to an investor. Since Central Cal Homes, Inc. does buy directly from Sellers as well, I thought it beneficial for prospective sellers to see the comments from an outsiders perspective.
The Pro’s are: 1) Flexible payment options. 2) Cash […]