Riverside CA Houses for Sale- Where are they?
Riverside CA houses for sale - where have they all gone? The number of houses for sale or sometimes referred to as "inventory" is a critical component of any real estate market. I did a blog on this topic several months ago and just updated the information on houses for sale in Riverside CA. Wow, it is pretty shocking to see how low the inventory has gone from where we were a little over a year ago.
The graph speaks for itself. With the considerable number of buyers house-hunting right now and and low numbers of houses available, no wonder buyers are having such a hard time getting into a new home. But if you are a buyer or are thinking of buying soon, don't get so discouraged that you decide to throw in the towel. With the low prices of homes and the low interest rates, it is still a great time to buy. And no one knows how long the low interest rates will be around. Click here to read my blog with the latest details of the Riverside real estate market.
It would sure be nice if the number of Riverside CA houses for sale would increase. Let's keep our fingers crossed!
Info about Riverside CA short sales and foreclosures - click here.
Call me if you are thinking of buying or selling a house or if you have any questions about the Riverside CA real estate market. My number is 951-840-5212 or contact me by e-mail at vicki@pedersen-team.com or go to my website, Pedersen-Team.com
Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715
Copyright © 2010 by Vicki Pedersen, All Rights Reserved.*Riverside CA Houses for Sale*
Hi Vicky
I am hearing over and over again from friends/business colleagues/students at my notary classes/etc that they personally know friends that are living in homes for 1-2 years without making a house payment and no one has been evicted.
I don't think these are "Urban Legend Stories" because too many people actually know someone who is living in such a home situation. For instance my financial advisor said 6 of his clients in Riverside are doing this.
What do you think the reason(s) the lender hasn't foreclosed and taken over these properties?
I am wondering if the lender can keep the home on it's books as not showing a loss or are they trying to "prop up" home prices in the Inland Empire.
We should have ton more homes available than we do.
I do a lot of mobile notary work for tenants in apartment buildings and most apartment complexes have a sign up front that offers $200-$500 for a moved in tenant.
There are very few homes for sale but apartment owners have to offer a "bounty to get a tenant."
Doesn't make sense to me!
Hi Joan, I know of instances where people have been in their homes for over a year without making payments. I don't really know why the banks don't take the homes back sooner. I'm guessing they have several reasons - all self-serving of course. I would like to see more houses available for the buyers but I also don't want to see prices drop any further because a glut of foreclosure properties coming on the market.