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:
| 1455 | Total Active Listings | Percent of Total Listings |
| 716 | Short sales | 49.2% |
| 217 | Bank-owned | 14.9% |
| 522 | Standard, Other or Unknown | 35.9% |
For the home 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.
Corona CA real estate market report
Riverside CA real estate market report
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, www.Riverside4Homes.com
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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?*
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