Solera at Oak Valley Greens - Distressed Sales Update
Per DataQuick, distressed sales continued to make up more than half of the resale market in Southern CA. Distressed sales include bank-owned properties (also known as REOs) and short sales. DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts.
In the 55+ community of Solera at Oak Valley Greens, located in Beaumont, CA, distressed sales have made up 42% of sales since the first of the year. A total of 19 Solera homes have sold since January 1, 2012; 6 were bank-owned, 2 were short sales, and 11 were standard sales. And while it's heartbreaking to look at the year-to-date numbers for Solera, we are still well below the distressed property sales figures in the rest of the resale market in Southern CA.
The average price for Princesses (a Solera model) sold since the first of the year is $119,091; the average price for Trillions (a Solera model) in the same period is $167,690; and the average price for Emeralds (a Solera model) since the first of the year is $206,625.
As of April 15 when I wrote a version of this article for the Solera Oak Valley Greens Gazette, there were 17 Solera homes on the market, and 12 in a pending or backup status. These statistics were taken from MLS.
It's a good time to buy real estate. The average rate on the 30-year fixed mortgage dropped to 3.88% when I wrote this article, making home-buying and refinancing a bargain for those who can qualify.
I would be honored to be Your Solera Realtor. If you would like more information about Solera real estate, about the community itself, or other homes in Beaumont, CA, please give me a call at (951) 333-1986, or email me at diana.mangan@yahoo.com.
Solera • Solera Oak Valley Greens • Beaumont, CA • Solera Sales • Solera Real Estate
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