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Rates on 30 year fixed rate mortgages dropping like a stone.  Par is near 5% today.

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The Fresno Bee recently reported in April that home prices are rebounding.  Personally, I am in the “wait-and-see” camp.  No doubt inventories have been scooped up, but then again the majority of the inventory has been foreclosed homes often offered at below market prices to move them off the banks books.

NAR announced an uptick in sales in May:

May Existing-Home Sales Continue Rising Trend

You can read the article here

…AND THEN, THERE’S THE BIGGER PICTURE:

I’ll let you decide.

But if you’re ready to buy or sell in Fresno - CALL ME: 559-301-1647

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I am often fascinated by the graffiti and poetry I find on the walls of foreclosed homes. The other day I was showing a home and got this image on my cell phone.

Here is the what I got:

Here it is with a little Photo Shop to make it POP:

WHAT DO YOU SEE?

Want to buy a foreclosed home in Fresno?

Are you a frustrated homeowner facing foreclosure? Do you want to paint your walls?  *Call me today for a free set of water color paints.

		Direct: Fax:		559.301.1647 559.438.7475
1319 W Bullard #4 — Fresno CA — 93711
© Randy “Lazarus” McAtee *just kidding of course

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I am proud to announce that this week I have had two referrals that came to me as a direct result of my blog

Now, hopefully my clients who signed loan docs last week will be able to close soon.

Need help buying or selling  in Fresno?

Buy a Forclosure

Short Sale

Call me: 559-301-1647

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Check out this video of a gal who has never been late on her house payment yet is being foreclosed on.  Pray you dont ever have to make a claim against your title insurance because the title insurance industry is one of the biggest rip-offs there is and the hell of it is you are forced to buy it just about every transaction.

In 2003, according to ALTA, the industry paid out about $662 million in claims, about 4.3% percent of the $15.7 billion taken in as premiums.

http://www.youtube.com/watch?v=tGPm5PXLfAE

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The Associated Press recently released a map measuring the amount of economic stress being endured by each county in the nation.

CLICK HERE TO VIEW

As you can see, All of California has been hit hard and Fresno is no exception.

		Direct: Fax:	559.301.1647 559.438.7475
1319 W Bullard #4 — Fresno CA — 93711
© Randy “Lazarus” McAtee

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From Mortgage Business to Pole Dancer….another very depressing video on the housing bust.

CLICK HERE TO VIEW

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Why the National Association of Realtors would hire the most prominent architect of the Housing Bubble to speak at their midyear meeting is totally beyond me understandable: they want to hear some someone “talk their book”. Greenspan certainly has the credentials. His management of our nation’s money supply fueled the bubble and lined the pockets or Realtors. How can they not love and revere him?I was particularly intrigued when I heard him say “We are finally beginning to see the seeds of a bottoming” which he immediately followed up with “NOT IN PRICES YET” Folks, I would take that as a WARNING: we have not seen the bottom yet. Yes, a bottom of sorts has formed and we have been bouncing along it, but the possibility of a ledge (or cliff) before us still exist.

Bear in mind this is the same Greenspan who said” ““I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out,” in Oct of 2006

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Please enjoy a brief interlude from my regularly scheduled, notoriously boring blog.

CLICK HERE

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In Feb Bloomberg reported –

A record 19 million U.S. homes stood empty at the end of 2008 and homeownership fell to an eight-year low as banks seized homes faster than they could sell them.

They also said:

the report counted 4.1 million vacant homes for rent and 4.8 million seasonal properties.

read the full report here.

Here are some mind boggling shots of an entire street up one side and down the other with each home on the street stitched together.

CLICK HERE

then

CLICK HERE

These are large images so give them time to load. After the image loads you may need to click it to enlarge.

The guy who took the pictures said it looked like two of the houses were occupied. It looks to me like the entire neighborhood needs to be dozed.

Keep in mind, as stated in a previous blog, we don’t have a housing crisis; we have a HOMING crisis.

		Direct: Fax:		559.301.1647 559.438.7475
1319 W Bullard #4 — Fresno CA — 93711
© Randy “Lazarus” McAtee

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