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 seems to be some headwinds: water issues,
slow to no job growth and we still have many homeowners who are upside down on there properties. There are cities
around the state that have overcome these obstacles. Most notably is the San Francisco Bay Area. We were visiting
San Francisco about a week ago. To my surprise there were cranes everywhere adding office and condo highrises to
the skyline. The jobless rate there is 4.1%, just over a one third of our own; around 12%. If Fresno had job growth, many
of these real estate issues would disappear.
For those of you still struggling and would like to be relieved from the pressures of owning a house, give us call, we’d be happy to
make you a fast price offer.