One of the areas of business that affects real estate values is jobs. If you have more jobs it places, greater demands on housing. Which then puts upward pressure on real estate values. Fresno’s job growth is expected to be flat because of the drought. This will likely reflect in flat or lower values for housing. For those of […]
2-21-14
In 2013 the price for a Single Family Residence, SFR, (homes) went up on average 28% in California. Though
Fresno didn’t rise this high, it still made it into the low 20 percentile range. The result being that fewer homes
are upside down ; in a previous blog we were down to less than 25% of all mortgaged properties in
Fresno County […]
2/6/14 Generally, in California when you’re delinquent on your property taxes for five years, the county
tax collector may offer the property for sale to satisfy the defaulted taxes. Note they can foreclose sooner
if you have a “nuisance abatement lien” on the property.
In Fresno County this sale begins on March 7, 2014.
If you are in the unfortunate position of being […]
02-21-2014
Interesting article regarding real estate in California. Property Radar has reported that
sales and values have declined in California. Though it looks like the market is improving:
the number of foreclosures and investors are dropping, we still have a ways to go before
we’re back to a healthy market. The two NEW items that are mentioned in the article
that are hampering growth:
Limited […]
1/30/2014
Distressed homes in Fresno County were 24 percent of all homes sold in December 2013. This is good compared to 52 percent in December of 2012. This is a reflection, in my opinion, of the increased values of homes compared to 2012. The median price appreciation was in the high teens, low 20’s for 2013.
For those of you still […]
6/10/14
The Wall Street Journal published the above article indicating that those folks in the 20’s-30’s age group
are struggling to purchase their 1st home. The recession has left them with limited job prospects and lots
of education debt.
The article goes on to say they they have credit rating scores that preclude them from buying from traditional
FHA lenders. Before the recession and […]
2-17-2016
More Valley homeowners gain equity in 3rd quarter
This article from the valley’s business newspaper “The Business Journal” indicates
that 15.4 % of residential properties in Fresno County that have mortgages have
negative equity….they’re upside down on their loan. This is an improvement from
the 3rd quarter in 2014 which had 19.3% with negative equity.
This is good news overall for Fresno’s real estate […]
Oct 22, 2014
For those of you who live in the Fresno or Clovis, CA area, there is a website that tries to help families determine
if they can qualify for assistance. They’re providing program information and a listing of the participating servicers (lenders and others).
Here’s a summary of the four programs:
1)Unemployment Mortgage Assistance – They will help make your mortgage […]
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 […]