Valley Housing Crisis

February 9, 2008 12:00:00 AM PST
The housing crisis is in the forefront in the valley this weekend. Dozens of homes will go to the auction block later this month.Saturday some owners learned how to keep theirs from being next.

Commercials are flooding valley airwaves for bank auctions for dozens of foreclosed homes from Clovis to Chowchilla.

Saturday at least 75 people came to check out a 1,400 square foot home in northeast Fresno, most investors looking for a deal.

Bud West, Clovis investor, says "I'm going to guess 20% chance I'll actually buy one, but I just want to be informed."

Angelica Boyd, Fresno investor, says "These are almost deceiving in my opinion, because they don't tell you there might be a set price the bank is asking for, so from what we hear- you get the highest bid, but if it's not what the bank wants, you're not going to get it."

The stove was gone at this home and real estate agents say more owners are destroying the property before leaving.

Sue Herbert, Real Estate Agent, says "I've heard of cement being poured down pipes, I've heard of carpet being taken out-all the appliances, door wear, light fixtures, fans, everything taken because they're angry."

Potential buyers were shocked at what they found inside this 3,600 square foot home in a gated northeast Fresno community.

Brian Boyd, Fresno investor, says "Really bad smell-they had animals and apparently they allowed their animals to run loose in the house- they used the house for their toilet facilities for the animals."

In the south valley a non-profit group hosted a workshop to help people keep their homes like K-Anne Wieland.

"We're in the hole as it is- we're stealing from Peter to pay Paul- using credit cards to pay it- trying to get credit cards paid off- we're just in a hole and we're trying to get out," says Wieland.

Volunteers say the best advice is to contact your lender and fight to refinance an affordable fixed rate.

Lily Riveira-Graves, Community Service Employment Training, says "A lot of the times when you call- you get your representative on the line- but if you don't ask for the mortgage department, the lost mitigation department, then you're not able to make those decisions or work out those solutions."


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