The latest data from the Office of Federal Housing Enterprise Oversight, which tracks housing values, offers good news to those who want to buy a house or bought years ago, and not-so-good news to others.

First the good news: Prices in Fresno have fallen more than 17% over the past year. That means more opportunity for first-time home buyers. In addition, the median price is still up 47.5% from five years ago.

Now the bad news: Prices have fallen more than 17% - not good for families trying to sell or who bought in 2005 or 2006 and owe more than the house is worth. Here's my story.