Fresno Real Estate Market Talk

Fresno Home Listing Inventory Low as Investors and First Timers Snatch Deals

2011-11-25T11:22:00.000-08:00

According to an MLS search I ran this morning, there are only 1587 active listings of single family homes and condos in the Fresno and Clovis area, and of these 476 are short sales, or roughly 30%.
This means there are really only about 1111 active listings that can be bought today. I don't count the short sales as truly available, because they require 3rd party approval before they can be sold, and it's typically a 4-8 month process.
From my perspective, I see most of the action in the lower price ranges, especially the under $100,000. properties that are being snatched up by investors and first time buyers. Any properties that are really clean or need little work are getting multiple offers. The buyers I've been working with are asked to submit their highest and best offers and many times are exceeding the asking price in order to win the bid.
The best advice I can give, is to have a strong pre-approval letter describing your financing and credit scores before you go house hunting. This is essential homework to do, in order to get a seller to consider your offer, especially in a multi offer situation. Most bank owned listing agents won't submit your offer to a seller without one.

Internet email Scam Buyer Ivo Akuma

2011-08-17T11:37:00.000-07:00

I receive emails regularly that I can easily identify as scams. We all receive them, the letter from the barrister from england who has money to deposit in your account etc, etc. They just need your account number and your info to deposit the millions to your account. Yeah right! Anyway, I recently got an email from someone named Ivo Akuma (from Japan), and his scam was a little bit more unusual as he was targeting real estate agents with a letter posing as a buyer, asking for listings to be sent to him between $500,000 and $1,200,000. and he would be paying all cash. So I thought this was possibly some type of scam, but I sent him a list of nice homes anyway. A couple days later he wrote back with his choice from the list of homes. He said draw up a contract and email it to him. He signed the contract using electronic signatures. Then I requested proof of funds and he sent me a bank statement that looked legit showing some $3 million in his account. OK, so far but then I requested a $5000 deposit, and he emailed saying he didn't want to use a title company for his money and that he preferred to us an attorney trust account. Then before we got much furthur, I decided to google the name "Ivo Akuma" and found a blog exposing this person's scam on other agents. Here is the link to the blog:

http://zitrof.net/mr-ivo-akuma-real-estate-scam/

I think his next move would have been to access the attorney's trust account number to attempt draining the money out somehow. I hope this person gets caught!

FHA Loan Limits For Fresno Changing October 2011!

2011-06-09T09:30:00.000-07:00

Starting October 1st, the curent loan limits for FHA will be dropping.They are dropping by a significant amount, however it will likely have little affect on our market locally. Here are the new FHA loan limits:

Now 10/1/11

Fresno $381,250 $281,750
Madera $425,000 $271,050
Tulare $325,000 $271,050
Kings $325,000 271,050

If you are wanting to purchase a home above $280,000 with FHA financing, you better start looking to buy now. Remember, FHA financing has only a 3.5% down payment required to purchase.

April 2011 Fresno County Home Market Statistics

2011-05-20T09:34:00.000-07:00

There were 840 sales of residential properties this past April in Fresno County, with a median sales price of $134,900. and an average market time of 66 days on the market.

Of the 840 properties that sold in April, the breakdown is as follows:

REO's (bank owned)- total of 369 sales or (43.8%)

Short Sales-total of 136 sales or (16.2%)

Regular Sales-total of 335 or (40%)

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There are 2669 Active residential properties for sale in Fresno County at this time, and of those:

REO's-477 total, or 17.9%

Short Sales-757 total or 28.4%

Regular Sales- 1435 total, or 53.7%

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Average list price is $253,197

Median Price is $178,000

Average Days on Market (DOM) is 101

Home Search Made Easier with Fresno MLS Client Portal Tool

2011-03-29T09:46:00.000-07:00

Are you frustrated with the home search process? Does it seem like every other listing is a short sale and you don't want them in your search results? Try using the client portal auto prospecting tool. Have your agent set up the "Client Portal" in the Fresno MLS, using all your individual search criteria. This is the only tool available that will filter out the short sales if you don't want them. I try to use this tool with every client because it works so well. Most people want to buy a home, but don't want to wait the typical 4-8 months for a short sale to get approved. The client portal is your own web page that will keep track of all the listings that meet your criteria and it will notify you daily of changes in price, terms or status. You can manage the listings by moving them around in different folders, such as "newly matched", "saved", "rejected" or "agent recommended". The listings are updated in real time, so it is the most accurate tool we have going. If you have been pre-approved for financing, not working with an agent yet, and would like the client portal tool set up for you please contact me and I can set you up.

High Number of Fresno Foreclosures Due To High Unemployment

2011-02-01T13:27:00.000-08:00

Fresno currently has a very high unemployment rate, probably in the neighborhood of 15-20%. This factor is what is now contributing to the high foreclosure rate, and growing inventory of bank owned properties for sale. As we all know, the housing bubble was created by the subprime loans and loose lending practices for home loans in the past bubble market. Now that most of those loans have either been foreclosed, or re-written, the inventory is now growing again with foreclosures caused by people losing their jobs. It's going to be a long haul to recovery, but I believe in real estate for the long term investment that it is. I realize that a home is more than just an investment. A home is where you live and grow your family and cannot or should not be considered like a quick return investment as we did in the past. It will take years for our economy to rebound, but there are some great opportunities out there for both investor and home buyers alike. We have prices in Fresno that, with minimum down payment, you will pay less than rent. The median sale price in Fresno is around $152,000. and there are many homes available now in the $50-75,000 price range.

Reflections on the 2010 Fresno Real Estate Market

2010-12-20T13:41:00.000-08:00

It's been a tough year for most people in the 2010 Fresno real estate market. As an agent, I've worked mostly with buyers, and a few past client sellers. My sales numbers and income are down a bit, largely due to the frustrating process of working with banks and their REO inventory or loan processing for buyers. With so many bank owned REO properties out there, I don't have much choice but to work with them. The frustration comes from the offer and answer process. They take so long to give an answer to an offer. I made one offer that took 28 days for a reply and we were bidding $10,000 above their asking price! Most of the time it took 2 weeks to get an answer, and this is clearly too long. Short sales are another bad scenario. I reluctantly worked one buyer in a short sale that eventually fell thru. The listing agent promised "Oh I can close my short sale listings in 60 days!" What a crock that was! After 120 days, the short sale lender told us to start over! so out of total frustration the buyers decided to find another property to buy. As an agent, I just don't care to work the short sales, unless they can change the way they do business, and speed up the process, and until then I will only list and sell traditional type sales or bank owned property sales. For buyers, I feel sorry for them because getting a new home loan is like getting "raked over the coals" with having to justify income and credit scores. They make it tough to qualify for any type loan anymore. I am truly thankful for my past clients and referrals. I know that I am truly blessed with the leads I get from the internet. I have very high ranking on Google for many relative keywords, and this continually drives traffic and prospective buyer and seller leads to my website at http://www.fresnohomes.net/. , and for this, I am very grateful. I've had 3 nice sales this month of December, and that's going to make for a good start in 2011. I wish everyone a Merry Christmas and Happy New Year.

Loan Guidelines for the "Funds to Close" Buyers Take Note!

2010-09-29T11:05:00.000-07:00

Loan underwriting guidelines today require full documentation. This means that buyers have to document the source of all funds that are used in buying a home.
Funds are needed for the down payment, closing costs, and prepaid items. Conventional loans require buyers to also have 2 months of house payments (called reserves) in the bank after the close of escrow. FHA does not require the 2 months reserves, but if the buyers have reserves it will add strength to the loan file for approval.
Buyers need to provide bank statements for the most recent 2 months. Even if buyers are not going to use one of their accounts for funds to close, it is a good idea to provide statements for the acount because it will add strength to the loan file for approval.
Buyers liquid assets are checking, savings, stocks and money market acounts. They are liquid because they can be accessed quickly to use for funds to close. Non liquid asets like retirement or pension accounts may be used, but acess to the funds can take time and there may be penalties involved for withdrawing funds.
Any large depositis will require a written explanation from the buyers. The loan underwriter wants to verify that the deposits are not the result of the buyers getting a loan that will require the buyers to have a monthly payment. Any large withdrawls will require a written explanation for the underwriter to verify the buyers do not have an ongoing financial obligation.
If the bank statements have another name with the buyers names, it will require a written statement from the other person that gives the permission to the buyers to use funds in the account.
If "gift funds" are used, FHA allows gift funds for all of the down payment, closing costs and prepaids. In a conventional loan, the buyers have to have 5% of their own funds and the rest can be gift funds. A gift letter has to be signed by the donor and the buyers, and the donor has to provide proof of funds available to give to the buyers.

Agent's Visual Inspection Helps Buyers in Purchase Negotiations

2010-08-12T11:04:00.000-07:00

When I'm showing a home to a prospective buyer, I try to always point out the defects I can visually see, such as a worn roof, stained ceilings, peeling paint, missing fixtures, stained carpet, and the like. These observations help the buyer in determining how to offer on a property. Many times, if these items are addressed in the terms of an offer initially, they can be negotiated for actual repairs or repair credits in the final contract. When it comes to the bank owned sellers (REO), some will negotiate repairs, and others insist on strictly an as-is sale.

Too Late For Tax Credit but Market Remains Steady

2010-05-27T17:10:00.000-07:00

It may be too late to qualify for the $8000 federal tax credit, but the market remains active. We are seeing the inventory increasing right now, as more listings are coming on the market. We are currently just over 2000 active listings in the Fresno/Clovis area for homes and condos. At the start of the year, there were about 1600 active listings. The activity remains in the first time buyer and the low end of the pricing. Homes under $200,000 are seeing the most activity. I received a call this week from a reporter at channel 24 news, and she wanted to interview a home buyer while I was showing them properties. The reporter was trying to paint a picture of a declining market, and the stats do show less sales from a year ago for the Fresno area, but I wouldn't totally agree with her.

Watch my TV interview news article from 5/25/10.

California won't tax forgiven home debt - Sacramento Business, Housing Market News | Sacramento Bee#mi_rss=State Politics

2010-04-15T13:24:00.001-07:00

California won't tax forgiven home debt - Sacramento Business, Housing Market News | Sacramento Bee#mi_rss=State Politics

Posted using ShareThis

Seven Housing Tax Laws to Pay Attention To

2010-04-03T12:50:00.001-07:00

NewsGeni.us - Article - Seven Housing Tax Laws to Pay Attention To

Active Listing Inventory Remains Low For Fresno Home Buyers!

2010-03-10T12:06:00.000-08:00

The reason it's hard to find a home sometimes is because the inventory is low. Today I found that for all of Fresno and Clovis, residential homes and condos for sale, there was a total of 1758 active listings. This number includes the "short sales", of which there was 409 short sales. So really, there are 1349 active listings that can be bought today. Most buyers do not want to endure the effort it takes to buy a short sale and that is understandable. 1349 listings is a low number for all of Fresno and Clovis. Of the 1349 active listings, 362 of them are "bank owned" REO's.

Those Who Wait Will Pay Thousands More This Spring!

2010-02-10T10:39:00.000-08:00

Here's why:

The deadline for the Home Buyer Tax Credit is April 30th, 2010. This is $8000 for a new homebuyer and $6500 for current homebuyers moving up.
While rates are still at historic lows, the Federal Reserve Board has repeated in many published reports that they will not remain there forever.
On April 5th, the cost of required up-front mortgage insurance (UPMIP) for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with an FHA loan, with a $7000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount, so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower by the up-front and monthly.
Later this spring, if FHA's new regulations go into effect, "seller concessions" will more than likely be reduced from 6% to 3%. The reduction in these "seller concessions"can increase the amount of cash a buyer wil be required to pay at closing.

When you combine the lower rate with the tax credit, you see that the homebuyers stand to gain between $13,500 and $16,000 on a home in the mid $200K's price range. That is a huge incentive for homebuyers to act now, while the incentives still exist.

$100,000 Price Range is Red Hot in 2010 Fresno Real Estate Market!

2010-02-04T13:43:00.000-08:00

I just listed this house in Fresno for $99,800 and WOW! was I amazed at all the action I am receiving. After 3 days I have 7 offers, and most are well above the asking price. Located at 2973 E. Norwich, the home is 3 bedrooms, 2 Baths and in clean condition. I wish I had many more in this price range right now. I have notified all offerors to make their "highest and best" offer. We have set a deadline for friday 2/5/2010 at 10AM as the deadline for offers. After that, we will review all offers and be making a decision before the weekend. To see more information about this home visit http://www.fresnohomes.net/ and click on "Featured Listings" for complete details on this great buy.

Sell your Fresno Home Now While Inventory is Low!

2010-01-27T15:00:00.000-08:00

The job market and the overall economy may be bad, but there are buyers out there buying and the inventory is low for available homes right now. I'm happy to be self employed and in the real estate business. This is a good time for the traditional sellers to come back into the market too. Yes there are a lot of short sales, but I'm not counting on those. Buyers are fed up trying to buy short sales. Bank owned sales are not too bad, but typically need a lot of work. What buyers want, is a regular type traditional seller with a clean home. I can sell these all day long right now.

Winning The Bid With Multiple Offers

2009-11-30T15:24:00.001-08:00

We are seeing multiple offers on most bank owned (REO) properties priced under $200,000. It seeems to me, that if there are so many offers on a listing, the listing agents must be pricing their listings too low. I'm sure they would disagree with me, but I've learned to counsel my buyers into making their "highest and best" bid when making offers and disregard the asking price. Most sales of REO's under $200K are selling well above the asking price. I always tell them, "don't get emotionally attached to real estate", and "to make your best offer", as if they will not get another chance and could lose out to another buyer. This is not just a salesman's pitch, this is the truth and after losing a couple of properties to higher bidders, buyers start to get the message. Also, "Cash is King" and there is a huge percentage of sales happening with "all cash" offers. Sellers will take a cash offer over another offer getting a loan about 90% of the time, sometimes even at a lower price, because there is a lot less chance of an escrow failing thru from a cash "as-is" sale.
I still see many buyers waiting to find a property before getting their loan pre-approval. In today's market buyers must be pre-approved before making the offer. Offers are not presented by many agents, if it is not fully documented. If it's a cash sale, you must provide "proof of funds". Proof of funds must be a copy of the buyers bank account showing funds in a liquid state, not in CD's. Pre-approval letters should be from a recognized lender, and should include DU, or "direct underwriter" approval. Escrows are taking longer, so plan on a minimum 45 days for the loan to process in your escrow period.
Buyers also need to be patient, as these REO sellers take their own sweet time to collect and review offers. They don't care that the contract says you want an answer in 3 days. The time they take is typically 5-10 working days for an answer to an offer. This is another reason why there are multiple offers. The amount of time it takes, gives the sellers a chance to collect offers and set the stage for a counteroffer of "make your highest and best offer", creating an auction like atmospheres.
In closing, the best advice I can give buyers is to be prepared for the action, and do a good inspection of the property as well as study the comparable sales before making an offer and getting caught up in the pressure of multiple offers.

Federal Tax Credit Extended into 2010

2009-11-11T19:39:00.000-08:00

The federal tax credit for home buyers was signed into law by President Obama Friday, Nov. 6. The tax credit, which was set to expire Nov. 30, has been extended through April 30, 2010 with a 60-day extension if a binding contract is in place prior to deadline. It also was expanded to include existing homeowners who have lived in their primary residences for five consecutive years out of the last eight years.

First-time home buyers still may be eligible for a tax credit of up to $8,000, while existing homeowners may receive a credit of up to $6,500. The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers, to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.

Under additional provisions in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The bill maintains the provision that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order.

Fresno MLS Realtors Happy Again with Rapattoni MLS

2009-09-25T09:33:00.000-07:00

I haven't heard one agent in Fresno say, "I wish we could have CalRedd MLS back". 99% of the agents are happy business is back to normal. CalRedd is a new software platform for a proposed statewide MLS system run by the California Association of Realtors (C.A.R.). The recent MLS changeover attempt in the Fresno area, had a negative impact on our Realtor memborship for 3 weeks and was literally a fiasco. We use the Rapattoni MLS system, and it works great. After 3 weeks of frustration with the calRedd system and all the bugs, the power of the membership stood up and said "NO" and we were brought back to our Rapattoni system. Why would they try fix something that already works good?

VA Financing is Frustrating for Vets in Today's Market!

2009-09-16T14:36:00.000-07:00

We are experiencing tough times for veteran buyers seeking to buy homes utilizing their eligibility for a VA loan. Veterans can obtain 100% financing. This is a great benefit to the veterans, and I believe they should be the only ones allowed to use 100% financing. Bank owned foreclosures AKA (REO's), are a large part of the current inventory, and these type listings are generally not accepting VA financing, and rarely accepting FHA offers. I'm having the toughest time trying to place my verteran buyers into homes because the banks or asset managers will not entertain offers written with VA financing. The banks sell their REO inventory AS-IS, and mostly without paying for repairs, termite reports and certifications. Most of the listings need work as a result of foreclosure, and due to the huge inventory and huge losses, we are not seeing the banks invest money to make repairs. If banks could invest money to bring up their property to the proper standards, we could sell many more properties to VA and FHA buyers.

Fresno Rejects CalRedd MLS, Returns to Rapattoni

2009-09-02T16:03:00.000-07:00

In a surprise move, the Fresno MLS has stopped using the new calRedd MLS system as of 9/1/09, after only 16 days. A majority of Realtor members were "challenged" and frustrated by the new format. We tried to work with the system for 16 days, and I must say calRedd support was making their best efforts to make fixes to the numerous bugs in the system. Myself, I was learning the calRedd system and felt confident I could get my work done, but there was still an endless number of deficiencies. At the rate we were going, it seemed like it would take a month longer to work out the bugs. Some agents felt they were going to be monetarily damaged because of the time involved beta testing, fixes and the learning curve of the calRedd system. The main issue that angered many agents, was the fact the system was released before it had been fully tested. They were leaving it up to the agents to identify problems, instead of beta testing it themselves. It was far from ready on their initial release. At this point, I have no idea what the future of calRedd MLS may be, but if we try this again, it better be a superior working model from the start.

Working with Fresno calRedd MLS Week 2

2009-08-26T20:02:00.000-07:00

We are in our 2nd week working with the new calRedd system. We are the working guinea pig agents for the new statewide MLS system. I hope all the other cities that are considering this system for their MLS will pay tribute to the guinea pigs here in Fresno. We are the ones paying the dues here to help beta test and build the most powerful MLS in the world. At least that is what they are hoping for! At this point we are still nowhere near the features that the Rapattoni system had. I must admit, they are improving everyday and I am learning new tricks. I'm still not confident enough in the "auto prospecting" yet to go full steam ahead with my clients, but I can see that bugs are being fixed daily. Hopefully we will get more administrative controls for our agent profile pages. One peculiar thing also, is there are no hyperlinks anywhere on the pages, nor is there any way to verify emails have been sent or recieved by clients. I'm sure it's all in the works. Anyway, it seems the frustration level among agents is easing a bit as some of the search basics are learned by the agents to keep them working and selling properties.

Fresno MLS CalRedd System Starts off Badly

2009-08-17T11:42:00.000-07:00

The much anticipated Fresno MLS system, "CalRedd" has started today. So far, I'm not impressed. There are many problems with the new system. We are having issues with the data, searching and property reports are inaccurate. This system affects some 4000 Realtors in the Fresno area, including the public data feeds to my website www.FresnoHomes.net. We expected problems, however the way that they initiated the system was not the best. There is no backup system to use today. They should have had a transition period where our old system, "Rappatoni" would work and we could migrate to the new "CalRedd" system. That is not the case, and basically our business is somewhat paralyzed until we can get the data correct.

Announcing Fresno MLS Changeover August 17, 2009

2009-08-10T10:18:00.000-07:00

We are about to embark on a major change in our MLS system august 17th. We are going to a statewide system called "CalRedd". There will be now new listings added to the system between 8/13 to 8/17, so that they can transfer all existing data to the new system. As with most new software systems, there will be bugs to work out. We look forward to the technology changes that will help us in our business. As far as my website at www.FresnoHomes.net is concerned, I am working on some changes to help make it easier to distinguish the listing status of properties, between "active" and "pending" sale status. Also, I am trying to get the option ability to filter out the "short sales" from search results. These changes will result in less frustration among buyers browsing for listings. I spend a great deal of time each day, answering emails from buyers just to tell them that the listing already has an accepted offer.

2009 Fresno Real Estate Forecast

2009-03-27T16:54:00.000-07:00

The Fresno County Economic Development Corp had a meeting and Joan Eaton of Guarantee Real Estate presented a report and graphs illustrating the current trends of our local market. Very interesting stats, showing the recent improving sales statistics, and outlook for the market in 2009. Go to: www.guarantee.com/edc to listen to the audio report and view the graphs that were presented.

FHA Loans Proving Difficult with Fresno REO listings

2009-03-24T20:16:00.000-07:00

The good news is interest rates are low, and FHA has the lowest down payment and easiest qualifying ratios for homebuyers. The bad news, is that most of the inventory of low priced bank owned homes will not qualify for the FHA insured loans, or the sellers don't want to fix their property to the FHA standards. FHA has minimum property standards, and the popular financing is proving e to be less attractive to the banks when your negotiating an offer to purchase. They would rather sell to a buyer with conventional financing or even better yet "all cash". Let's face it "cash is king", and due to stricter property requirements, the sellers will take the path of least resistance. If the banks could invest a little bit in bringing their properties up to specs, I could sell a lot more properties, and for higher sale prices. Most people only have enough money to buy the property and don't have the extra cash to fix up the property after acquisition. Another alternative is an FHA rehab loan called the 203K, but unfortunately their aren't many local lenders that are using this particular loan and are not well versed in the process of this loan.

2009 Tax Credit For First Time Home Buyers

2009-02-20T20:06:00.000-08:00

2009 Tax Credit For First Time Home Buyers

The NEW $8000 Tax Credit does NOT have to be repaid if the home buyer stays in the home for 3 years.
Escrow must close between Jaunuary 1 and December 1, 2009.
The buyer must be a First Time Homebuyer which is defined as, "someone who has not owned a home for the past 3 years."

Fresno Extreme Home Makeover

2009-01-12T16:09:00.000-08:00

The TV hit show "Extreme Home Makeover" is in town filming the construction of a new home this week at 23 E. Robinson. I've been trying to witness the construction progress over the last couple days to no avail. The police and security have roadblocks and are letting in only a limited number of public looky-loos. The entire neighborhood is a zoo, with lots of people and traffic. Finally today, I was able to walk down the street to the construction site. The owner's story is great, because the owner is very deserving of the new house for their family. I took some pictures below and have some interesting info I dug up in the MLS and public records. The original house was 1213 SF, 3 BR 1.5 Baths and it was bought at the height of the market for $235,000 in Sept. 2006. It was in good overall conditon. They Extreme Home Makeover show demolished the entire house down, and are rebuilding a totally new 3200 SF home that is specifically designed for the handicapped owner. The entire construction of the house is done in about 4 days while the owner is sent on a vacation. When they return, they will film the owner seeing the home for the first time after the construction as the show's star shouts out "Move that Bus" The show will air sometime in March 2009

This is a picture from 2006 when she first bought the home for $235,000

These below are taken on day 2 of construction 1/12/2009

Mortgage Changes Effective January 1st 2009

2008-12-10T11:02:00.000-08:00

Here are some mortgage changes we will see in the coming new year.

FHA Loans

Maximum loan amount for Fresno area $281,750
Minimum down payment will be 3.5%
Monthly mortgage insurance .55%
Up front mortgage insurance premium 1.75%

Conventional Conforming Loans (Fannie Mae and Freddie Mac)

Maximum loan amount remains at $417,000
6 month seasoning required for all cash-out refinances
Total number of financed properties is four

Fresno Real Estate Market Surging!

2008-11-22T08:18:00.000-08:00

We are seeing increased activity over the last several months as prices have dropped dramatically. Many homes are 1/2 the price they were just 3 years ago! Just last week, I got an accepted offer on a bank owned home in Madera for $157,900, that originally sold new in 2006 for $340,500. The bank is also paying 3% towards buyers closing costs. The home is 4 bedrooms, 3 Baths with 2053 SF of living space. Here is a picture of that listing:

It had been roughed up a bit in the foreclosure process, and needs interior painting and carpeting, but will be a "like new" home when those items are completed by the new owner. Prices in Fresno are slightly higher than Madera, but there are many good buys to be found. The negotiating process is slow with bank owned properties due to the massive inventory these banks and asset managers carry, and buyers must be patient. This home took about 3 weeks waiting for an answer to the offer. It was worth the wait.

Fresno Real Estate 4th Quarter Market Snapshot

2008-10-04T11:15:00.000-07:00

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.

2008-07-03T11:44:00.000-07:00

Important Facts About Buying Bank Owned Properties

Prospective purchasers of bank owned properties (REO's), are hereby advised of the following:

1. The bank or lender that owns the property may require that you sign and agree to the provisions of an Addendum to the purchase agreement.
2. These bank owned properties are sold "as-is", without any inspections or disclosures provided by the seller.
3. Addendums are prepared by a lawyer representing the bank. Guarantee Real Estate is a licensed real estate broker and is not responsible for, and is prohibited as a matter of law from explaining or advising you regarding the legal ramifications of the Addendum. If you agree to the Addendum, you are strongly advised to seek the advice of a lawyer or tax consultant, prior to signing.
4. You may risk the return of your initial deposit or any money delivered into escrow if the transaction is not consumated or escrow does not close. The release or return of funds delivered to escrow can only be released by the mutual, written agreement of the buyer and seller, typically emodied in escrow cancellation instructions.
5. Most Addendums include a "per diem" charge which is a fee charged to the buyer for every day the deal is not consummated/closed, beyond the date agreed to for the close of escrow, regardless of which party caused the delay in closing the escrow/consumamation of the purchase agreement.
6. Some banks or lenders may not be duly licensed California corporations or foreign (out of state) businesses, which may create difficulties in filing suit or recovering monetary damages (or return of your deposit).
7. You can attempt to negotiate the removal of the Addendum or certain provisions thereof, including per diem charges, prior to executing the Addendum. Most banks or lenders will not negotiate the removal of the Addendum or any provisions thereof.
8. If you agree to the Addendum, make sure you read it carefully and proceed with diligence in performing your obligations under the purchase agreement and Addendum thereto.
9. If you agree to pay a "per diem" fee, be sure you, your lender and your Realtor act diligently. If possible, avoid making changes to the purchase agreement or escrow instructions, which may cause a delay in the transaction closing or being consummated.
10. If the bank or lender, or escrow company causes delays in the transaction, make sure either you or your Realtor send and email, fax, or letter to the listing agent representing the bank notifying them of the delay, the cause of the delay, requesting a waiver of the per diem and enclose an Addendum waiving the per diem and granting an extension of time to close escrow, sot he per diem fee can be addressed by the parties, for the bank or lender's signature. Also, send email, fax or letter wtiht he ddendum to the escrow officer, signed by the bank or not.
11. If you refuse to pay the "per diem" fee, regardless of which party caused the delay, you must notify the escrow officer that you will not close escrow unless the per diem fee is waived by the bank. While not required, such notification should be in writing, with proof that it has been transmitted.
12. All contracts for the purchase of real property must be in writing. If a verbal acceptance of your offer is transmittd to you, in most cases it is unenforceable and you do not have a contract for the purchase and sale of the property, or the right to compel performance of the bank by court order, unless you received you offer, signed by the bank and all contingencies have been removed.

Tips In Making Offers On Bank Owned Properties

1. Buyers must be "pre-approved" for financing in advance, and submit a letter of pre-approval with the offer. If the buyers are paying all cash, provide a bank statement or proof of funds at time of offer.
2. Be prepared to have the property inspected by a professional home inspector at the buyers expense. Bank owned properties are sold "as-is" and they are exempt from providing any disclosures. Buyer beware!
3. Buyers must be patient, and expect 3-5 days for a response to their offer.
4. If there are multiple offers submitted, expect a counter offer requesting a final "highest and best" offer.
5. Make the offer clean, and without any contingencies of another sale closing.
6. Banks will negotiate on price and many times will pay some of the buyers closing costs, but they are looking at their highest "bottomline" net cash at closing.

Life is Too Short for Short Sales!

2008-04-04T11:41:00.000-07:00

When it comes to making sales in real estate, I focus on the listings that are genuine, and can close escrow. I would estimate that 90% of short sale listings never sell and close escrow. The fallout factor of short sale escrows is huge, because what buyer can and would want to wait months to get an answer on an offer? Sure, the owner will accept any price, because he is not getting any of the proceeds due to his upside down equity position. In a short sale, the sellers owe more on their loan than the asking price, usually tens or hundreds of thousands of dollars. The lender holding that loan, must approve of the short payoff and loss. If they do make that decision, it will happen just before the property gets foreclosed on at the public trustees sale on the courthouse steps. The lender may end up approving some loss, but maybe not at the original price the seller accepted. Buyers are reluctant to hang on for months waiting for an unsure tranasaction, and I don't blame them for backing out. Most of the time the property just ends up going thru the foreclosure process and becoming a "bank owned" listing. When it gets repossessed by the bank, the bank will aggressively price it to sell . The market is full of great listings of bank owned and other well priced listings, so why mess with a short sale. In my opinion, the listings that are short sales are nothing more than a big waste of time. Most agents like myself, won't even show these listings.

Fresno County FHA Loan Limits Increased!

2008-03-07T13:48:00.000-08:00

Good news in the mortgage market! As of 3/5/08, the FHA has increased the maximum loan limit to $381,250 for Fresno County. This will significantly help the local Fresno Home market, because FHA loans are available with as little as 3% down payment. Madera county had it's maximum FHA limit was also increased to $425,000. There are many benefits to FHA loans, such low down payment, and easier qualifying.

Search the Fresno MLS database of active listings at http://www.fresnohomes.net/

Auctions of Bank Owned Foreclosure Properties in Fresno!

2008-02-19T10:07:00.000-08:00

There are a couple of auctions coming up, one tonight where there will be about 30 foreclosed homes up for auction. This is a very small percentage of the actual number of foreclosed homes currently on the market in Fresno. One thing bidders should be aware of, is that these auctions have a "reserve" price, which means if you are the winning bidder, the bank that owns the home may not allow the sale to thru unless the price meets their reserve price. It's really all about the media hype that goes on with the slick TV advertising and auctioneers driving up the frenzy in bidding. The last time an auction came to town, about six months ago, there were about 20 homes that were auctioned off, but only about 5 of them actually resulted in a successful sale with the bank. There are hundreds of homes available that are bank owned in our active Fresno MLS system. Buyers can search all active listings at http://www.FresnoHomes.net

2008 Fresno Real Estate Market Ripe With Opportunities!!

2008-01-10T07:20:00.000-08:00

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.

Bank Owned Properties Are Opportunities in Fresno Market!

2007-11-13T11:08:00.000-08:00

If your looking for good deals on bank owned properties, check my Featured Listings page on my website FresnoHomes.net These listings seem to be the most aggressively priced listings in the current market. Many are priced below other similar properties that are owner occupied. These are the deals I hear most people asking for in 2007. What you need to understand is, that these properties are sold on an "as-is" basis, without warranty of condition. Many of the properties are in poor showing condition, due to being vacant for some time and lack of maintenance. For some buyers, this becomes a great opportunity for to get a good price.

"Short Sales" are not well understood by buyers!

2007-09-16T06:41:00.000-07:00

There are hundreds of "short sale" lisings in the Fresno MLS today. I have found that most buyers I consult with in the Fresno real estate market today do not understand or know what a "short sale" is. A short sale is a situation whereas the existing loans are larger than the asking price, and the owner of the property is behind in payments. If you were to make an offer on the property, the exisiting lender would be making the final decision on the offer, because the lender would be taking the "short" payoff. From what I see, many lenders are taking their time making these decisions and it is frustrating and misleading to the buyers. The buyers get an offer accepted by the owner, only to find out weeks later that the lender is not approving that sale price!! I see many listings where the listing price of a home is $100,000 less than the balance of the existing loans!! Do you think the lender is going to be cooperative and quick to lose $100,000?? I think not! Many times the lender will not appprove of the short payoff, so foreclosure is the remedy. Typically, the existing owner must be able to prove to the lender they are having a financial hardship to get approval for a short payoff. As an agent, I have to make sales. I avoid showing short sale listings most of the time and discourage most buyers from getting involved. Sometimes it will take weeks for the lender to answer an offer, or the owners hardship is not approved, or the lender just forecloses rather than take a short payoff. Also many owners will find out that if the lender approves of a short payoff, that the amount of debt releived is considered income by the IRS, so there can be an income tax consequence for the existing homeowner who sells under a short payoff sale.

Mortgage Business Changing Fast!

2007-08-18T11:46:00.000-07:00

The mortgage guidelines have been changing rapidly over the last few months. We are seeing more escrows failing to close due to financing issues. Due in part to the subprime mortgage crisis, and the increase in foreclosures, the lenders are scrutinizing loans and buyer's qualifications. We're seeing them tighten their belts, and declining loan applications, or making them unaffordable with higher than average interest rates or higher mortgage insurance costs. It's no surprise to me, I could've told you that this was going to happen. Now it's back to the old days, when you had to have verifiable income, good credit scores, and money to put a down payment. The days are mostly over for 100% financing, stated income applications, and marginal credit scores. If you were pre-approved for financing a few months ago, you might want to contact your lender again to go over your loan options.

Motivated Sellers Are Willing To Pay The Costs!

2007-06-19T07:21:00.000-07:00

Buyers are asking for help with the closing costs, and they are getting it. This is commonly happening in the Fresno market these days. Most of the transactions I see today, the buyer is asking for at least 3% of the purchase price to be contributed to the buyers closing costs. There are truly motivated sellers that are negotiating on purchase price as well as closing costs. I counsel my sellers to expect to see this kind of activity when they list their home, so it is not a surprise when they recieve an offer with these terms. Most lenders will allow up to 3% of sales price to be contributed to the buyers closing costs. Some lenders allow up to 6%, however this seems rather excessive if you do the math.

The subprime mortgage correction period is happening!

2007-05-01T10:43:00.000-07:00

Without a doubt, the subprime lending market has been tightening their belts over the last couple of months. Due to increasing loan defaults and foreclosures, this tightening means more people are pushed out of the market. These buyer will have to qualify now like everyone else and qualify on their income and credit scores. They'll have to save for a down payment and build income to manage payments. Gone are the days of lending 100% financing with stated income, or 100% investor financing etc., where any buyer with a pulse can get a loan. These practices, now referred to by the press and media as "predatory lending" have lead to a decline in consumer confidence and decline in housing sales abroad. The changes will be good for the future, and hopefully there will be some legislation to help prevent these unscupulous practices among loan brokers.

Subprime Mortgage Blues!

2007-03-28T13:10:00.000-07:00

You've heard it in the news lately, about the subprime mortgage market that's now in trouble. Well, it's about time! We all knew it would catch up to them someday. It just didn't seem right. People were buying houses with loans they shouldn't have qualified for. Stated income, and or 100% financing and other exotic loans are now bad business and referred to in the media as "predatory lending". The notices of default are coming in very fast now as many of these loans were adjustable rates with prepayment penalties and or balloon payments. With the interest rates rising above market level on these loans, monthly payments increasing beyond affordability and many of the borrowers put little or nothing down, it's no wonder that they are walking away from them and letting their property go into foreclosure. Just today, I had a sale transaction fall thru because of these lousy subprime loans and the lenders involved. It was the second time that this escrow fell thru. Both times the buyers were investors going for 100% financing from the "subprime" market. Both times I had pre-approval letters and from the lenders. I will now be very skeptical of this type of financing in offers presented to me on my listings.

Worthless Pre-Approval Letters!

2007-02-15T13:21:00.000-08:00

I can't tell you how many times I receive worthless mortgage pre-approval letters with offers on my listings. They say "congratulations, you are pre-approved for a home loan", then it goes on to say that this pre-approval is based on verbal information given to the lender or some sort of inadequate information disclaimer. The letter is not based on a review of a complete loan application, credit review or anything like that!!! It's a letter that's not worth the paper it's printed on. I see this happen all the time. Do these buyers and their agents think this is acceptable? It's not professional to say the least, and they lose some credibility in the offer. If buyers want their offers seriously considered, they should use a reputable lender and be pre-approved based on a complete review of a credit application, verifications of income, job and bank accounts and have a letter that states all this has been verified. With a valid pre-approval letter in-hand, the buyers offer will have more power.

Short Sale Listings Are Increasing in Fresno MLS!

2007-02-02T10:08:00.000-08:00

I am noticing many "short sales" in our Fresno MLS. My advice to active buyers right now is to avoid getting involved with short sales if at all possible. Short sales are situations where the owner is typically behind in his mortgage and owes more on the loan than what the value or asking price is of the property. Even if the owner accepts your offer, you may not get the property, because the mortgage company for the seller has to approve the "short", or approve how much money they will lose by selling to you. Most of the time, it's a huge waste of time for buyers and agents alike because the lender drags their feet and eventually denies the short sale or tries to negotiate different terms than originally accepted by the owner. With so many homes on the market, why get involved in a short sale escrow?

Has the Fresno Real Estate Market Bottomed Out?

2007-01-25T06:30:00.000-08:00

One thing's for sure. The market is picking up! Our office is seeing increased activity in 2007 now after the holidays are over. The market was slow during the fall months of 2006, but now I see many buyers and sellers believing that the market has pretty much bottomed out. Many buyers are coming out of the woodwork to look at homes. My website www.FresnoHomes.net has had some incredible traffic increases, Jan 13th getting 459 visitors! On the average I get about 250 visitors per day. I got 3 offers on an investment property I listed, and that is a good sign. Many investors have left the market over the last year, but now I see more of them coming back. The Fresno market is attractive to many buyers, basically it's still one of the lowest priced areas in California. Do you think the market has bottomed out?

2007-01-14T08:30:00.000-08:00

Pinedale planning to remain residential

Pinedale started in the early 1920s as a new town for employees of the Sugar Pine lumber mill, seven miles north of Fresno near the San Joaquin River's south bank.

[via FresnoBee.com: Local]

2007-01-06T08:58:00.000-08:00

How to deal in a slack housing market

What's the shape of a post-bubble, post-correction real estate market? And more to the point: What does that mean for you in the new year?

[via San Jose Real Estate -- MercuryNews.com]

2007-01-06T08:56:00.000-08:00

Is The End Of The End Of The Housing Bubble Near?

Is it the end of the end of the housing bubble? The National Association of Realtors (NAR) seemed to think so as it issued its November report on the sales of existing houses, the second month in a row when sales showed slight improvement over the previous month.

Significant Others Need To Think About Their Legal Status When Buying A Home

2006-12-05T14:11:00.000-08:00

Significant Others Need To Think About Their Legal Status When Buying A Home

A young relative called over the long weekend. He had just made an offer on a house and wanted advice about inspections and other details. We had been in e-mail touch for several weeks as he worked through his mortgage pre-approval, structured the offer and generally obsessed over a very important decision. But I had never thought to ask a critical question of my own: "Are you and your girlfriend - buying this house together?"

They would, he responded, both be on the deed, but only he would sign the note...

Valley Lawmakers Pitch Plan to Improve Air Quality

2006-12-05T14:09:00.000-08:00

Valley Lawmakers Pitch Plan to Improve Air Quality

Officials from the San Joaquin Valley have a clever plan for solving the region's tenacious air problems. Whether it succeeds in securing more money is another question. Federal lawmakers are not on board, and environmentalists are raising questions. But no one argues about the valley's air problem. The region's air and economy are among the nation's worst. Health costs related to air quality are ...

[via KnowledgePlex News]

Pending Home Sales Indicate Market Stabilization

2006-12-05T14:08:00.000-08:00

Pending Home Sales Indicate Market Stabilization

‘Steady pace' can be expected for next two months, says Lereah

[via RISMedia.com RSS FEED]

2006-11-14T12:21:00.000-08:00

Las Vegas Housing: A Perfect Storm?

Special to the Review-Journal I have read several articles recently about the current state of the Las Vegas real estate market. I now know why the public is totally confused. After 18 years selling real estate both here and in Los Angeles, I have seen all the elements that affect a market. But never have I seen the problems facing us presently all coming together at the same time. It's like a ...

[via KnowledgePlex.org News]

2006-10-22T09:17:00.000-07:00

Housing prices to fall slightly in '07, Realtors say

Housing prices are expected to drop 2 percent in California, but the market should be slightly better in pockets of the Bay Area where the housing supply is tighter, according to the state Association of ...
Comment

[via Real Estate - Topix.net]

2006-10-22T09:16:00.000-07:00

Think buying house in foreclosure is cheaper? Maybe not

Realtor John Izzo stands Thursday by a home that is under foreclosure. He says stiff competition, bureaucratic rigmarole and necessary renovations can make foreclosure purchases difficult.
Comment

[via Real Estate - Topix.net]

2006-10-10T07:19:00.000-07:00

Metro: Fresno offers aid for home improvement

Disabled Fresno residents can get up to $10,000 to install a ramp, a grab bar or other equipment to help them stay in their homes instead of a nursing facility, city officials announced Monday.

[via FresnoBee.com: Metro]

2006-10-10T07:10:00.000-07:00

Running Horse Golf Course: Up for Sale?

The PGA is starting to look at alternative sites for a pro golf tournament scheduled next year in Fresno. Construction is behind schedule at the Running Horse golf course in Southwest Fresno. Now, talk of a possible sale is only adding to the anxiety for people with unfinished homes in a development nearby.

[via KFSN Front Page headlines]

2006-10-09T06:51:00.001-07:00

MAKE YOUR HOUSE A BLANK SLATE

Putting your home on the market often means cleaning, painting and planting flowers to make the house as attractive as possible. But homes for sale also need to be de-personalized, so that buyers can picture themselves living there.

[via San Jose Real Estate -- MercuryNews.com]

2006-10-09T06:51:00.000-07:00

WANT A SPEEDY SALE? AVOID THESE PITFALLS

Sellers can learn something from the not-so-typical story of Gillian Tucker and her husband, who recently bought a home in San Carlos whose listing price was out of their price range.

[via San Jose Real Estate -- MercuryNews.com]

Seller Taking Buyer To Small Claims Court!

2006-10-04T06:53:00.000-07:00

Well, the story thickens as it's been 3 weeks since the escrow tragedy on 9/11. The buyer will not release the deposit as "liquidated damages" for backing out of the sale. The seller will file a small claims court action today. After several letters going back and forth between buyer and seller, the buyer has offered half the $4000 deposit to the seller. The seller will not accept anything except the entire deposit as damages. Since no agreemnet could be made, the seller is forced to file the small claims lawsuit, and I applaud that action. In fact I am interested in the process and want to learn from it. There have been times in past experience when we just let a buyer back out and get his money back, but this time is different. We were wronged by this man, and there may be some blame to lay on the buyers agent as well. Apparently the buyers agent was aware of the "secret contingency". The buyer wanted the home to be home care facility business with approval permitted from governmental agencies. This was not in the purchase contract that the buyers agent prepared, although he was aware of it. To us, this constitutes a fraud, since the sellers were not made aware of this. We would not have accepted these terms in the original contract, and the fact that the buyer removed all contingencies in writing, and we lost a backup buyer makes the whole scenario worse. We have consulted an attorney looking over the file and he says we should win this case easily. Apparently there is only a small fee of about $26 to file a small claims court action. We will have our day in court!

Some Sellers Just Not "Getting It" In This Market

2006-10-01T06:20:00.000-07:00

I recently had a listing expire after 3 months, which is not uncommon in 2006, but it bothers me to know that the seller thinks it's my fault that it didn't sell. I told him that there are three conditions that make a sale: price, terms and condition. The terms are good, because interest rates are still low, so it must be an issue of price vs condition. We had many showings by other agents in our MLS. with agents giving me feedback like: "it needs too much work" or "needs floor coverings & interior paint among other things. I had also advised them to de-clutter the interior, paint the front door, clean the carpets and do several repairs to make the property more presentable. The sellers did not complete my recommendations. In the first month I luckily found a buyer and brought him an offer that was about 10% less than the asking price. It was a good offer from a qualified buyer who wanted to buy "as-is" and fix-up the home himself. The sellers barely came off their price saying "it's early yet, someone will offer more". If we had made a counteroffer closer to the buyers initial bid, I may have been able to work the buyer up a little higher on his offer price. I told them, that by counter-offering back that high, they would be in effect, "buying the property back himself" for that amount if the buyer rejects your counteroffer. And he did, as the buyers rejected the counter-offer made by the seller. Well, here is a lesson learned, as time went on and the market prices deteriorated furthur this summer, it looks like the first offer was a pretty good offer after all because no other buyers made an offer and the Fresno property values continue a slow decline just like everywhere across the country in 2006.

2006-10-01T06:13:00.000-07:00

Real Estate: Condos take to the Valley

Home builders in the central San Joaquin Valley are planning condominiums as a way to reach first-time home buyers and to attract families looking for a more carefree or urban lifestyle.

Fresno Real Estate Market Talk

Fresno Home Listing Inventory Low as Investors and First Timers Snatch Deals

Internet email Scam Buyer Ivo Akuma

FHA Loan Limits For Fresno Changing October 2011!

April 2011 Fresno County Home Market Statistics

Home Search Made Easier with Fresno MLS Client Portal Tool

High Number of Fresno Foreclosures Due To High Unemployment

Reflections on the 2010 Fresno Real Estate Market

Loan Guidelines for the "Funds to Close" Buyers Take Note!

Agent's Visual Inspection Helps Buyers in Purchase Negotiations

Too Late For Tax Credit but Market Remains Steady

California won't tax forgiven home debt - Sacramento Business, Housing Market News | Sacramento Bee#mi_rss=State Politics

Seven Housing Tax Laws to Pay Attention To

Active Listing Inventory Remains Low For Fresno Home Buyers!

Those Who Wait Will Pay Thousands More This Spring!

$100,000 Price Range is Red Hot in 2010 Fresno Real Estate Market!

Sell your Fresno Home Now While Inventory is Low!

Winning The Bid With Multiple Offers

Federal Tax Credit Extended into 2010

Fresno MLS Realtors Happy Again with Rapattoni MLS

VA Financing is Frustrating for Vets in Today's Market!

Fresno Rejects CalRedd MLS, Returns to Rapattoni

Working with Fresno calRedd MLS Week 2

Fresno MLS CalRedd System Starts off Badly

Announcing Fresno MLS Changeover August 17, 2009

2009 Fresno Real Estate Forecast

FHA Loans Proving Difficult with Fresno REO listings

2009 Tax Credit For First Time Home Buyers

Fresno Extreme Home Makeover

Mortgage Changes Effective January 1st 2009

Fresno Real Estate Market Surging!

Fresno Real Estate 4th Quarter Market Snapshot

Life is Too Short for Short Sales!

Fresno County FHA Loan Limits Increased!

Auctions of Bank Owned Foreclosure Properties in Fresno!

2008 Fresno Real Estate Market Ripe With Opportunities!!

Bank Owned Properties Are Opportunities in Fresno Market!

"Short Sales" are not well understood by buyers!

Mortgage Business Changing Fast!

Motivated Sellers Are Willing To Pay The Costs!

The subprime mortgage correction period is happening!

Subprime Mortgage Blues!

Worthless Pre-Approval Letters!

Short Sale Listings Are Increasing in Fresno MLS!

Has the Fresno Real Estate Market Bottomed Out?

Significant Others Need To Think About Their Legal Status When Buying A Home

Valley Lawmakers Pitch Plan to Improve Air Quality

Pending Home Sales Indicate Market Stabilization

Seller Taking Buyer To Small Claims Court!

Some Sellers Just Not "Getting It" In This Market

30-year mortgage rates drop to lowest level since March

Real Estate: Sellers willing to negotiate

Real Estate: Some 'flippers' stick it out

Buyer Backs Out After All Contingencies Removed!!!!

3435 Mayfair Dr N. $199,900 IMMACULATE!!!

Fresno Is A Buyers Market!

Metro: More owners of homes squeezed

FUSD's financial outlook is positive

New Idea For Public Utilities' Budget Problems

NAR Announces the Return of the Buyers Market

Valley Seeing Realty Market Cooldown

More mortgage pain coming after rate hike

Real Estate: Local home market grows up

Metro: Dairy pollution rule passes; lawyer calls it an 'empty gesture'

Metro: Fresnans worry about living near train tracks

Fresno Buyers Making Lower Offers in 2006!

Realty Websites Reduce Visitors to Open Houses!