2008 Fresno Real Estate Market Ripe With Opportunities!!

Amid all the negative news we hear daily, with foreclosures, subprime mortgage losses, and failing consumer confidence, there is some real opportunities for investors and serious home buyers. Many of your average buyers are running scared from national news reports that are creating a lot of fear. Many buyers are asking "when will we see the bottom". Well, by the time we know where the bottom is, it will be too late. Get in the market now!!!I'm seeing many outstanding prices in the Fresno, Clovis real estate market today. Investors are starting to take interest in the new values of homes. Interest rates on new loans are at historic lows. The new guidelines for financing, which is really like the old guidelines: (you have to qualify on income and credit scores) Unlike the subprime days when anyone with a heartbeat could get a loan. Hence we have eliminated some buyers from buying homes, but it is fundamentally sound lending now and this will be good in the future as the economy recovers from the current turmoil. For good credit buyers with some money to invest and hold onto, this is a great opportunity time. It was the unscrupulous lending practices that got us into the mortgage mess and slowing economy as we have now. Prices have been falling steadily throughout in Fresno during 2007 and I've seen another round of price reductions at the start of 2008, and the most aggressive pricing is coming from the "bank owned" listings. The properties are being sold "as-is" and many are in poor condition due to deferred maintenance. Visit my website fresnohomes.net where over 7000 properties can be found by searching the Fresno MLS database.