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Clovis Real Estate News

February 13th, 2010

Clovis Homes Undervalued?

Clovis Home Values

In 2006, CNNMoney.com published a ranking of 299 U.S. housing markets to identify where home prices were most overvalued.  Back then, at the height of the Clovis real estate market, little was undervalued.  In fact, real estate was white-hot and Clovis home prices were at or near what came to be their peak values.

Now, 4 years after Clovis home prices reached their top values, CNNMoney looked at 330 metro areas to see what’s happened to home prices.   The results for Fresno and Clovis may surprise you.

Clovis Home Values

According to CNNMoney’s results, the median price of a Fresno home is $146,600 which is 16.80% undervalued in 2010.  Compare that to 2006 when Fresno homes were overvalued by a whopping 58%!  The same is true about Clovis homes.  Five years ago, the median price of a Clovis home was $311,000.  As of November 2009, the median price of a Clovis home is $237,832.

Current Clovis Home Values

Clovis Real Estate

If you’re in the market to buy a new Clovis home, here are 3 reasons why now is a fantastic time to buy.  (1) According to CNN, homes are undervalued, (2) interest rates remain low, and (3) the federal government is giving away free money in tax credits.  If you’re ready to buy, contact us today and let’s go house-hunting!

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This entry was posted on Saturday, February 13th, 2010 at 8:43 AM and is filed under Buyer Info, Current Home Values. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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