River Ranch has homes built in 2001-2002 by Fieldstone and KB Homes and is located at the corner of Hwy76 and Old Grove. It represented a reasonable price point for newer homes, without Mello Roos in a gated community with pool, convenient location and good schools in the area. Unfortunately, buyers there seem to have gotten in over their heads and now I recognize it as one of the newer tracts that's had the most price decline.

Today, there are 12 homes active, 2 in escrow, and 6 sold in the past 4.5 months according to the Sandicor MLS. 4 of the actives are short sales, 1 is bank owned; 1 of the pendings is bank owned, 1 is a short sale; and all 6 of the sales were bank owned. The 6 solds averaged $192/square foot, while the same time frame last year was $238/sf representing a 19.3% decline in price for the average 2335sf home. At least the time it takes to sell a home hasn't changed that much and hovers around 80 days.

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