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 market. As more properties are
availible to be sold, presumably as buyers move up, we’ll see a more robust market; which means
that sales will increase followed by prices. As prices increase fewer house will be upside
down. Kind of a cascade of sales and price increases.
Thus, a healthy real estate market. However, for those who are currently upside down and
need to sell, we’d be happy to make you a short sale offer and purchase your property.
Just contact me: Jan Weston, Central Cal Homes, Inc at 559-250-6189.