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Randy "Lazarus" McAtee - Owner/Broker Lazarus Realty, Fresno California

Bargain Hunters Snap up Fresno Homes

.... so says an article in today's Fresno Bee. And its true, and I have to admit that I have been behind the curve on market reporting but hope that will change. Its actually difficult to blog all that you would like when you're busy transacting business. Don't get me wrong, I haven't been THAT busy, but the beginning of the year is off to a much better start than last year.

Some of the salient statistics from the article:

  • banks were the biggest sellers, responsible for 60.5% of the transactions in Fresno County

  • Fresno's foreclosure rate -- reflecting the percentage of households in default -- ranked 11th in the nation last month, according to RealtyTrac, and some experts predict another surge of foreclosures this summer.

  • The median price in Fresno County fell 7.1% in April to $130,000 after climbing 9.6% in March, the first uptick in 13 months, according to DataQuick

  • About 77% of all households in Fresno County can afford an entry-level home, according to the California Association of Realtors.

As I mentioned not long ago, there are days now when i am actually seeing more homes going into escrow in a day than coming onto the market.

If you are looking to buy in the Fresno Clovis area feel free to search our MLS and give me a call and put me to work for you.

ps... you can specify white shirt and tie :)


Lazarus Realty
Lazarus

Direct:
Fax:

559.301.1647
559.438.7475

1319 W Bullard #4 -- Fresno CA -- 93711

© Randy "Lazarus" McAtee



Fresno CA And The Economic Stress Test

The Associated Press recently released a map measuring the amount of economic stress being endured by each county in the nation.

CLICK HERE TO VIEW

As you can see, All of California has been hit hard and Fresno is no exception.

Lazarus Realty
Lazarus

Direct:
Fax:

559.301.1647
559.438.7475

1319 W Bullard #4 -- Fresno CA -- 93711

© Randy "Lazarus" McAtee

Lost Vegas

From Mortgage Broker to Pole Dancer....another very depressing video on the housing bust.

CLICK HERE TO VIEW

19 Million Homes Vacant In US

In Feb Bloomberg reported -- A record 19 million U.S. homes stood empty at the end of 2008 and homeownership fell to an eight-year low as banks seized homes faster than they could sell them.

They also said: the report counted 4.1 million vacant homes for rent and 4.8 million seasonal properties.

read the full report here.

Here is an sobering panoramic shot of an entire street up one side and down the other with each home on the street stitched together.

CLICK HERE

then

CLICK HERE

These are large images so give them time to load. After the image loads you may need to click it to enlarge.

The guy who took the pictures said it looked like two of the houses were occupied. It looks to me like the entire neighborhood needs to be dozed.

Feel free to comment. What do you think?

Bankers Crunch The Numbers -- Then CRUNCH THE HOUSES

Here's the latest on the California Housing Crunch.  Bankrupt builders are leaving their creditors with nearly finished homes.  The banks, already upside down in the deals no they can never recoup their losses so the demolish the homes as you see in this video below.

 

 

Unfortunately the demolition makes sense because the besides finishing the homes the banks would likely be obligated to complete the streets, sidewalks, curbs, gutters, and all the rest of the neighborhood infrastructure.  Very sad, especially in light how many people don't have a proper roof over their head.