Blogging Broker

I suppose that depends on whether your’e a buyer or a seller.  If you’re buyer – I would say not all that bad; If you’re a seller, well that’s a different story, you have my sympathy and will face MANY CHALLENGES so I suggest you solicit the help of a Realtor© call me today.

The Fresno Bee has an good article today on the housing market in Fresno — Local Housing: boom to bust.   During the bull market in real property values Fresno was truly a BOOM area.  I used to refer to Fresno as California’s Poor Man’s Paradise, a term I picked up from a friend who is a native of Fresno (having lived previously in San Diego and in the Bay Area, I couldn’t agree more).

The boom years quickly eliminated the poor man’s ability to purchase a home  and had me wondering if my children would ever be able to buy.  Not any more.  So long as the overall economy doesnt go to hell in a handbag, prices are now looking much better and we do have buyers coming into the market and scooping up properties.

To give you an idea of just how far prices have fallen, I am looking at a listing (short sale) that has been on the market for nearly 6 months with no takers so far.  According to what I see in the sales records this home sold two years ago for $200,000.  Today’s list price is less than half that.

I dont suggest that you go after a short sale – unless you have the patience of Job, and are willing to deal with lender shenanigans.  To be truthful, I would DISCOURAGE you from pursuing a short sale, but – IF  would like to make on offer on a short sale or REO property in Fresno – Call me today @ 559.301.1647 and I will be glad to assist you.