Fresno: Median home prices down 68%-75% in some areas

[Newsjock]

http://www.fresnobee.com/2012/01/03/2669595/home-values-in-fresno-area-slid.html

If you bought a house five years ago when prices in Fresno were at their peak, chances are it's now worth less than half of what you paid for it.

But the effects of the housing boom and subsequent collapse have landed unevenly across the Fresno-Clovis metro area, hitting harder in the areas favored by first-time homebuyers: older, core neighborhoods and newer-growth areas on the fringes of Fresno.

In parts of central and southeast Fresno, for instance, the median home price has fallen between 68% and 75%.

... Northeast Fresno is in better condition, with prices falling 41% in the 93720 and 93730 ZIP codes.

[MADem]

1. Are property taxes falling as well, or are they going up, up, up to compensate for the assessed

value losses?

[bemildred]

3. You have to apply and show evidence of decline.

Not that tricky, but the assessor is not going to look into it for you.

[NV Whino]

2. Prices would have to drop 100% for me to live in Fresno

And even then I'd probably pass.