Here's how our inventory of active listings in the Fresno MLS stand at the start of the fourth quarter 2008. I ran a search today for all active listings of homes and condos in Fresno and Clovis. The results are a total of 3156 active listings. From the total, there are 681 "short sale" listings or (21.5%), 902 "bank owned" (28.5%) and 1573 (49.8%) traditional seller owned listings.
So from these numbers, it shows that a whopping 50% of the homes for sale are distressed and foreclosed properties.
4 comments:
That is an astounding percentage of distressed sellers.
What impact on the sale of new builds do you observe/expect that this high number of foreclosures will have?
It forces prices down on the new construction as well as all others listings. The foreclosure homes get more attention because they are aggressively priced low.
Fresno is such a beautiful place. Market shares forces good thing to come in. With these, market should stabilize. You can check this out if you want to. http://www.kbhome.com/new-homes-fresno-and-surrounding-area
Fresno real estate 4th quarter market snapshot is such a tremendous market or place.It is a fully established and stabilize place for investment. The foreclosure homes get more attention because they are aggressively priced low.
farm land as an investment
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