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 inventory for sale: Nobody wants to sell unless they can buy something else they like.
- The Qualified Mortgage Rule (QM) affects who can qualify for a mortgage and effectively
shuts out some who should be able to buy.
In Fresno I see the two BIG issues as:
- 25% of homeowner in Fresno County owe more than there property is worth
- We seen little to no job growth.
Until we see those two improve, I don’t expect much further growth in sales or price.
Again, if your one of those folks who are upside down on your house or simply want to
sell, we’d be happy to make you a fair priced. Just click on the Fast Response button on one of