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Foreclosures in Fresno

Posted by Harold Penner on Friday, July 9th, 2010 at 12:20pm.

April 2008 -- I have been specializing in the Fresno real estate market for nearly 20 years and find the trends in today's market truly unique. Foreclosures, in many cases, are driving the market. A year ago this month only 17 of 552 properties sold in Fresno and Madera counties were bank owned. In March 2008 that number jumped to 146 of a total of 390 sold properties or 37% of all homes.

At the same time, our inventory is steady or slowly declining. In February 2008 there were 6,022 active properties and this month there were 5,795. Historically, as less homes are available in a particular area, prices will stabilize or begin to rise.

What does this mean for you? Well, we are seeing the best prices for buying that we have seen in years. Foreclosures are keeping the prices low and making it an incredible time to buy. If you are interested in learning more, please contact my office at (559) 322-7777 or email hpinfo@homesinfresno.com.


MARCH 2008 MARKET STATISTICS - Fresno and Madera Counties

• Avg. Price in March '07 vs. March '08 - $310,583 vs. $263,264 (15% Decline)
• Active Listings in March '08 - 5,795
• Sold Homes in March '07 vs. '08 - 552 vs. 390 (30% Decline)
• # of Foreclosures and Pre-Foreclosures Sold in March '07 vs. '08 - 23 vs. 161
• Avg. Loan Percentage Rate in March '08 – 6.25% (30 Year Fixed)

Click here to visit HomesInFresno.com

FEATURED LISTING  2882 W. Locust Ave. $464,000 4 Bedrooms 3 Bathrooms 2,500 sq. ft. Price Reduced by $30,000! This pristine Northwest Fresno home is located in a premier Northwest Fresno area close to exclusive Lake Van Ness and neighboring Golf Course Country Clubs! Featuring a large lot and sparkling pool with child-safety gate, this 1974 home is completely updated including granite counters with tumbled stone backsplashes, contemporary light fixtures crown moldings and neutral decor. With mature landscaping and designer interior features this home offers the best of both worlds!

 

PENNER TEAM NEWS! HP is a Grandpa! Life became all the more joyful on St. Patrick's Day this year when little Aubrey Rose was born to her parents Blake and Cherie Smittcamp. She was 7.5 lbs, 21.5 inches long and decided to keep her family up all night waiting for her arrival. She definitely knows how to make an entrance! But, as the first grandchild to come to the Penner and Smittcamp families, we didn't mind one bit!

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