Housing Watch: Fixer-uppers growing in popularity in Valley

FRESNO, Calif. (KFSN) -- High home prices have many buyers looking at viable alternatives to a move-in ready home.

So-called "Fixer-uppers" appear to be growing in popularity.

"We saw a fixer-upper had an affordability quotient that really lent itself to being able to take an existing structure and make it a housing ready, residential ready," says Doug Ressler.

Ressler is the Business Intelligence Manager for the real estate research group Yardi Matrix, which says a move-in ready home in Fresno comes at an average price of $452,000.

"We found that fixer-uppers in Fresno averaged about $300,000, so compare that to $452,000," he said. "That's a $148,000 discount. It makes Fresno very, very attractive."

Bakersfield and Fresno are among the top three California markets where you can save money by buying a "fixer-upper" home, according to Yardi Matrix.

Keep in mind that fixer-uppers in Los Angeles still costs over $1 million.

Experts say you also need to factor in the neighborhood where you will be living and how much work you are willing to put into remodeling projects.

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