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Tax Consequences of a Short Sale In California

3-17-14

There’s good news for Californians who are needing to do a short sale.  According to the California Association of Realtors a letter from one of the FTB board members stating  “California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a […]

By |October 22nd, 2018|Uncategorized|Comments Off on Tax Consequences of a Short Sale In California|

Home Affordable Refinance Program – HARP

3-5-14  I recently read that 25% of all homes with mortgages in Fresno County still owe more than there home is worth.  There’s

two parts to this equation:

1) The debt exceeds the value of the home

and

2) The homeowner is paying interest on debt that’s beyond the homes worth.  That’s not efficient.

Wouldn’t it be wiser to reduce the payment burden by […]

By |October 22nd, 2018|Uncategorized|Comments Off on Home Affordable Refinance Program – HARP|

Drought to flatten Fresno job growth

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 […]

By |October 21st, 2018|Uncategorized|Comments Off on Drought to flatten Fresno job growth|

California Housing Market Outlook for 2014

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 […]

By |October 20th, 2018|Uncategorized|Comments Off on California Housing Market Outlook for 2014|

Fresno County Property Tax Sale Begins March 7, 2014

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 […]

By |October 20th, 2018|Uncategorized|Comments Off on Fresno County Property Tax Sale Begins March 7, 2014|

Real Property Report – California January 2014

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 […]

By |October 19th, 2018|Uncategorized|Comments Off on Real Property Report – California January 2014|

Distressed sales still falling in Fresno

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 […]

By |October 19th, 2018|Uncategorized|Comments Off on Distressed sales still falling in Fresno|

Lost generation casts shadow over housing market.

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 […]

By |October 18th, 2018|Uncategorized|Comments Off on Lost generation casts shadow over housing market.|

More Valley homeowners gain equity in 3rd quarter of 2015

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 […]

By |October 17th, 2018|Uncategorized|Comments Off on More Valley homeowners gain equity in 3rd quarter of 2015|

WSJ Article – Don’t Buy a Home as an Investment

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 […]

By |October 17th, 2018|Uncategorized|Comments Off on WSJ Article – Don’t Buy a Home as an Investment|