Modesto Market Bouncing Back  From on January 12, 2009 in
General  Modesto, California  Modesto, California, is ground
zero in the real estate slump. Of the total homes for sale,
almost all of them are short sales or foreclosures. However,
there’s a great demand for these bargain homes and currently
there are more buyers than inventory. The market down-turn
affected everyone, whether positively or negatively. Here’s how
my town is bouncing back and adapting:  The lucky ones who
bought before the balloon burst  People who bought five or six
years ago and secured an A paper loan are ahead of the game.
Many of these homeowners are staying put and planning remodeling
projects. Every day I drive around town and see second story
additions being built or rooms being enlarged. Rather than
buying bigger, they’re building out.  Investor groups buying
future rentals  Another large area of remodeling activity is
coming from investors or investor groups. They’re buying real
estate by the pound as future rentals. Many of t