Straight Talk - Fresno Real Estate News

The California Assocation of Realtor's posted this article on their website."For release:December 4, 2013 IRS and California Franchise Tax Board declare California distressed home sellers not liable for federal or state income tax on short sales LOS ANGELES (Dec. 4) – The CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) announced today it received a letter from the California Franchise Tax Board (FTB), obtained by Board of Equalization (BOE) member George Runner, clarifying that California families who have lost their home in a short sale are not subject to state income tax liability on debt forgiveness “phantom income” they never received in a short sale. Last month, in a letter to California Sen. Barbara Boxer, the Internal Revenue Service (IRS)…
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Another month with some strong increases in value.  Our median price is all the way up to $193,000.  For this months full newsletter report, check out the attached link.
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Foreslcosures are down across the nation!  In Fresno, we currently have over 65% equity sales.  As these bank owned properties continue to clear our market, they are leaving a shortage of inventory that has positivley impacted our pricing.  Year of year meadians are showing close to 20% growth.  This is well needed equity for most sellers.   

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The federal government has extended the HARP program to 2015. Many American's have been skeptical of most loan modifications or have been frustrated in the past by the run around from banks. The HARP program offers a potential solution that could end up saving you a lot of money on your monthly payments. If you have a loan that is backed by either Fannie Mae or Freddie Mac, the HARP program is worth looking into. Check out this link that gives you some specifics about the qualification for the program and frequently asked questions.

http://www.fhfa.gov/webfiles/25112/HARPextensionPRFINAL41113.pdf

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More and more in today's technological age, buyers are first scouring the internet long before they view their first property with a realtor. Researchers have been studying the behavior of these buyers and have learned that 60% of their time is spent looking at the pictures of a property and 95% spend 20 seconds viewing the first picture. With this information, the first picture becomes a critical piece in a marketing puzzle. Give our team a call today and we can help make sure that you have eye popping content for your listing. Here is a link to the full article.

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For those people on the fence wondering whether they should rent or buy, this article does a nice job of laying out the pros and cons of the aurgument.

http://pro.truliablog.com/buyers/rent-vs-buy-top-10-markets-where-buying-is-a-no-brainer/?ecampaign=tnews&eurl=pro.truliablog.com%2Fbuyers%2Frent-vs-buy-top-10-markets-where-buying-is-a-no-brainer

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As property values are increasing and interest rates are still at all time lows, many home owners are are looking to take advantage by refinacing. Here is a link to a very helpful article for all owners considering this step. http://www.inman.com/buyers-sellers/columnists/jackguttentag/avoid-overcharges-when-refinancing

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As home pricing plummeted and inventory levels shot through the roof, home builders were hit particularly hard. As a result, new home construction all but stopped in most markets across the country. Now as pricing begins an upward trend and inventory levels are at incredible lows, many homebuilders are either getting back into the game or ramping up production. Here is an interesting article on how home builders will be a key to our continued economic growth. http://money.cnn.com/2013/01/27/news/economy/housing-economic-growth/index.html?iid=EL

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Data last updated: September 20th, 2017 at 11:00am PDT and updating occurs daily

The information being provided by FRESNO Association of REALTORS® is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.