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Foreclosure in Fresno : Real Estate Advice

  • All403
  • Local Info27
  • Home Buying153
  • Home Selling23
  • Market Conditions7

Activity 23
Wed Dec 26, 2007
Mario Pinedo, Ccim answered:
The central valley has not seen all the foreclosures and short sales yet. There are still many home owners who are struggling in the Central Valley and banks are slow in foreclosing. The trustee sales will happen and more are to come. With this excess inventory on the market, prices must still have room to drop. What percentage is very hard to predict. I think within the next 6 months will be a good time to jump in. ... more
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Thu May 1, 2008
Michelle Carr-Crowe answered:
NAR just posted a great article - called something like "the news that doesn't make the news" - 97.4% of homeowners make their loan payments on time.

Reminding clients that the media is in the business of selling stories--as long as the stories sell papers or get TV viewers, the stories will continue.

Just keep selling...
... more
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Wed Feb 27, 2008
Mario Pinedo, Ccim answered:
There are some difficult issues with those Central Valley markets. Looking at what the major home builders are doing is interesting. They let expire many option money deposits on land slated for home development in the last year. These same land tracts are now in play again. Companies like K&B, Horton, Toll Brothers, etc are negotiating acres to buid new home developments to coincide with a better real estate market in a couple years. Fresno and Stockton resale homes will again be competing with new home developments. And this will not change for a very long time. My suggestion, buy retail properties that will support all the home development. Every new family that moves in will need to go to their local Walgreens, Burger King and Hair Salon. ... more
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