Blogging Riverside Real Estate

Here is a snapshot of what is currently happening in Corona CA in residential real estate. This chart includes only single family residences. Short sales are still the major part of the market right now based on the continuing high numbers of short sales for sale and pending short sales. There is a fewer percentage of sold short sales because they take longer to close and some of the short sales do not close successfully.  (I did not include the many short sales currently in back-up status in this chart.)  There are also a lot of standard sales and many of those are flip properties.  This is where an investor has bought the house, fixed it up or rehabbed it, and then put it on the market for sale.  Many buyers are looking for flipped properties since they don't have the time nor money to fix up a house themselves.  I have worked with a number of buyers throughout 2011 who have bought a flipped property.   Many buyers are looking for such properties because they dont have the cash nor time to fix up a house that needs it. 

Also I want to mention one more thing about Corona real estate: the average list price of all the residential properties that sold in October 2011 was $313,728 which is really only slightly higher than the average sold price of $311,000. Buyers, this means that you probably won't be able to come in with a low ball offer unless the house has been on the market for a very long time.

Check out the Riverside market activity

If you are thinking of buying or selling a home in Riverside or Corona or other nearby Inland Empire cities, contact me at vicki@pedersen-team.com.  Visit my website.  Search thousands of properties for sale.

Written and posted by: Vicki Pedersen, ABR, GRI Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715

Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Real Estate Activity - Corona CA *

People are often curious about what is happening in real estate in their community. Here is a snapshot of real estate in Riverside CA.  This chart includes listings and sales of single family residences only. Short sales are still the dominating force of the market right now based on the continuing high numbers of short sales for sale and pending short sales.  (I did not include the many short sales in back-up status currently in this chart.)  There are also a lot of standard sales and many of those are flip properties.  Flips are where investors buy houses (usually short sales and foreclosures) fix them up and then put it on the market for sale.  They can be wonderful for buyers who don't have the time or cash to fix up a house themselves, particularly first time buyers. Severall of my buyer clients have bought flips in 2011.  They can have some unique challenges with financing, though. I particularly like to show flipped houses to my first time buyers.  

And here is a little more information on Riverside CA real estate, 344 houses/condos were sold during October 2011.  The average list prices of those sold houses was $210,171.  Compare this to the average sold price of $205,256.

Check out Corona CA real estate activity

If you are thinking of buying or selling a home in Riverside or Corona or other nearby Inland Empire cities, contact me at vicki@pedersen-team.com.  Visit my website.  Search thousands of properties for sale.

Written and posted by: Vicki Pedersen, ABR, GRI Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715

Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Real Estate Activity - Riverside CA *

Victoria Grove Real Estate - Riverside CA

If you are interested in current real estate activity in Victoria Grove Riverside CA, read on.  This information is as of October 6, 2011. Victoria Grove is a beautiful gated community in the Southwest part of Riverside California - near Lake Mathews.  It is about about three miles south of the 91 freeway on La Sierra Ave.  It is a very nice community with wonderful residents and great community amenities - and is one of my favorite neighborhoods in Riverside.

Active Listings

There are 24 houses currently for sale (active listings on the multiple listing service) right now in Victoria Grove in Riverside California.  Of the houses currently for sale, 12 are short sales and 12 are standard sales. There aren't any REO (bank owned - foreclosure) listings right now. Out of the 12 standard sales, it looks like seven of those are flips (where an investor buys a foreclosure, fixes them up and then sells them).  The least expensive house currently for sale is listed at $265,000 and is 2917 sq ft and the highest price Victoria Grove house is a standard sale that is listed at $429,900. Let me know if you are interested in receiving the active listings in Victoria Grove. 

Houses in Escrow and Accepting Back-up Offers

There are currently 17 houses listed as "pending" which typically means that they are in escrow or "back-up" status - usually meaning that the seller has accepted an offer but they are accepting back-up offers.  There are 13 short sales, three REO (bank owned - foreclosure) listings and one standard sale.  The highest price house in back-up is a 4403 sq ft house listed for $485,000 and the least expensive is a 2746 sq ft house listed for $279,900.

Closed Homes

Victoria Grove had a total of 13 houses close (sold) in the last 60 days.  Of those, six were short sales, four were foreclosures and there were three standard sales. The most expensive house sold for $480,000 (a 4176 sq ft house) and the least expensive was a 2758 sq ft fixer upper that sold for $250,000.  (I know that it was a fixer upper because I showed it.)  I have clients who just closed on their beautiful new Victoria Grove house last week and they are so excited about the house and they love the neighborhood. 

Victoria Grove, in Riverside CA is a wonderful neighborhood.  If you would like to learn more about Victoria Grove or see photos of the neighborhood/amenities, go to my blog about Victoria Grove. Call me if you are thinking of selling your Victoria Grove house or of buying a house in this terrific community. Visit my website at Pedersen-Team.com.  You can contact me at 951-840-5212 or vicki@pedersen-team.com  

If you are thinking of buying or selling a home in Riverside or Corona or anywhere in the Inland Empire, contact me at vicki@pedersen-team.com.  Visit my website.  Search thousands of properties for sale.

Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715

Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Victoria Grove - Riverside CA - Current Real Estate Activity *

Riverwalk - Riverside CA is a beautiful community in the southwestern part of Riverside, California. It is in a convenient location close to the 91 freeway, near Pierce and Collett. It is also close to shopping, schools and La Sierra University. Riverwalk homes were built over several years - from about 2001 through 2005.  Riverwalk - Riverside CA 

I really like Riverwalk and its great location.  I have buyer clients who just closed on a terrific REO house this week in Riverwalk and they are very excited about their new house.

Real estate market in Riverwalk Riverside CA.

 

Real Estate report:  The # of all cash home sales in Riverside and Corona CA

I work with a lot of home buyers and have been wondering how many of the home sales in Riverside and Corona are bought by all cash buyers.  So I decided to research this issue myself and here are the results of that research.  The home sale totals are for all types of residential sales; single family houses and condos/townhouses.

Riverside California

Corona California

(Information is from the CRMLS. It is deemed reliable but not guaranteed.)

Riverside housing market report     Corona housing market report

Let me know if you are interested in receiving listings for  Corona CA or Riverside  homes for sale or if you are thinking of selling your Corona or Riverside  home, contact me at 951-840-5212 or vicki@pedersen-team.com. Visit my website, Riverside and Corona Real Estate.

Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715, Phone: 951-840-5212 
Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Real Estate Report: The number of all cash home sales in Riverside and Corona CA*

I'm working with a number of buyers right now.  The process of looking for houses now is quite frustrating due to the large numbers of short sales.  And, trying to avoid short sales can be quite difficult.  I have been telling my clients that about 50 to 60% of the houses for sale in Riverside CA, Corona, Murrieta and other nearby cities are short sales but I wanted to double check and get more definite statistics.  So I did a search of all the active listings in Riverside (both single family houses and condos).  What I correct about the 50 to 55%? Well on the day that I did my research, I was pretty darn close.  This is what I discovered:

On March 19, 2011 there were:

For you buyers out there, short sales are a huge part of the market and I don't think we are going to see short sales go away anytime soon.  So hang in there, be patient and keep looking! Many short sales are closing successfully.    Compare these numbers to the last time I checked how many short sale listings there were.

Let me know if you are interested in buying or selling a house in Riverside CA or Corona CA or if you have questions about the real estate market in Riverside or Corona or neaby.  You can contact me at 951-840-5212 or vicki@pedersen-team.com. Visit my website, Riverside and Corona Real Estate.

                                              

Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715, Phone: 951-840-5212 
Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Riverside CA - How Many Short Sale Listings are There?*

Houses for sale in Corona CA - Market Report - February  2011

Below are the totals for home sales in Corona CA for February 2011. The number of new listings has gone up in three zip codes from December to February. The number of houses that have sold has gone down in four of the five Corona zip codes.  The number of houses shown here currently for sale and pending is as of March 15. There were 199 closed sales in February which is down from the 236 sales that closed in November of last year.  These numbers are for single family houses only.

(Information is from the MRMLS. It is deemed reliable but not guaranteed.)

Riverside housing market report

Let me know if you are interested in receiving listings for  Corona CA homes for sale or if you are thinking of selling your Corona CA home contact me at 951-840-5212 or vicki@pedersen-team.com. Visit my website, Riverside and Corona Real Estate.

Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715, Phone: 951-840-5212 
Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Houses for Sale in Corona CA - Market Report February 2011*

Houses for Sale in Riverside CA - February 2011

Here is information about houses for sale in Riverside CA. The number of houses for sale and in escrow shown here are as of March 8, 2011.  These statistics do not include condos.  This is a breakdown per Riverside zip code but the overall picture for Riverside CA real estate shows a decrease in the number of sales over the last three months.  The number of houses currently for sale has gone up in four of the eight Riverside CA zip codes and six zip codes have experienced an increase in the number of pendings/backup status houses over December. The number of houses that sold (closed) in February compared to January has increased in half of the zip codes. The sold prices went up from in February (compared to January) in five zip codes.     Learn about the number of short sales currently in Riverside.

 (Information is from the MRMLS. It is deemed reliable but not guaranteed.)

There were 268 single family houses that sold in Riverside in February compared to 284 in January and 427 in December, which is a decline that I don't like to see.  We need to get more houses sold in Riverside, particularly the many short sales that are taking so long to get approvals for - a huge frustration for both buyers and sellers.   

2010 Totals for Riverside CA - houses for sale and houses that sold

Corona CA market report

Let me know if you are interested in receiving listings for Riverside CA homes for sale or if you are thinking of selling your Riverside CA home, contact me at 951-840-5212 or vicki@pedersen-team.com. Visit my website, Riverside and Corona Real Estate.

Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715, Phone: 951-840-5212 
Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Houses for Sale in Riverside CA - Market Report February 2011*

Houses for Sale in Riverside CA - January 2011

Here is information about houses for sale in Riverside CA. The number of houses for sale and in escrow shown here are as of February 15, 2011.  These statistics do not include condos.  The number of houses currently for sale has gone up in five of the eight Riverside CA zip codes and almost all zip codes have experienced an increase in the number of pendings/backup status houses over December. One area that doesn't look good, especially if it continues, is the decrease in all but one zip code in the number of houses that sold (closed) in January versus December and November.    

 (Information is from the MRMLS. It is deemed reliable but not guaranteed.)

There were 284 single family houses that sold in Riverside in January  compared to 427 in December, which is more than  a 33% decrease.  The average price of the houses that sold in January was $204,638 which is lower than the average for December of $212,830.   

2010 Totals for Riverside CA - houses for sale and houses that sold

Let me know if you are interested in receiving listings for Riverside CA homes for sale or if you are thinking of selling your Riverside CA home. Visit my website, Riverside and Corona Real Estate.

Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715, Phone: 951-840-5212 
Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Houses for Sale in Riverside CA - Market Report January 2011*

Foreclosures and short sales in Riverside CA 

How many foreclosures and/or short sales are on the market right now in Riverside, California?  Here is a breakdown of the current active listings (for single family homes) in Riverside as of  January 21, 2011. 

 
As you can from the numbers above, there are more than three times as many short sales as foreclosures.  There are more standard sales that a year or two ago - due in large part I believe to the number of foreclosures that have been bought by investors, fixed up and then flipped. There are lots of short sales. These still take patience on the part of buyers - but many of them are resulting in successful closings - so buyers who are looking, don't ignore the short sales. There are some really terrific short sales on the market at distressed property prices.

2010 totals - homes sold in Riverside CA

If you are worried about losing your home to foreclosure, don't wait to act. Contact your lender regarding a loan modification. If you don't seem to get anywhere with your bank, keep trying, be persistent.  If this doesn't work, contact an experienced Realtor regarding the possibility of doing a short sale. 

Read this for tips on buying a bank-owned home.

Current market report for Riverside CA real estate

If you would like to learn more about short sales or foreclosures or would like to receive listings of houses for sale in Riverside, CA or anywhere in the Inland Empire, let me know. My website, http://Riverside4Homes.com 

                                            

Written and posted by: Vicki Pedersen, ABR, ASP, Pedersen Real Estate, Riverside/Corona, California, 951-840-5212  vicki@pedersen-team.com