Riverside CA Short Sales

Riverside CA Short Sales

How many Riverside short sales are there? As of May 29, 2010 there are 1098 active listings of houses and condos for sale on the multiple listing service in Riverside California. 462 of those are short sales (42% of the total).  Short sales continue to be a significant portion of the real estate market and there are fewer bank-owned houses (or REO’s) for sale.  Of the 1098 total houses on the market, only 167 are bank owned (15%).  Distressed sales (or bank-owned and short sales) make up about 57% of the market. 

Click here to learn more about the current Riverside real estate market. 

In the last 30 days, there have been 159 short sales that sold and 158 bank-owned houses that sold.  Compare this to the same time last year when only 70 short sales sold and 408 bank-owned houses were sold. That number surprised me a bit. I knew that there are fewer bank-owned houses on the market, but I didn't expect that the number had decreased so significantly.

If you are in the process of buying a short sale, or if you are a homeowner facing financial hardships and are considering doing a short sale, it is good to know that more and more short sales are successfully closing and some banks are taking less time to process than previously.  If you are a buyer looking for a bank-owned house, my advice is to hang in there - don't get discouraged.  More information about short sales. 

Do you need an experienced Realtor who is dedicated to helping you sell your home as a short sale....please give us a call.

If you have any questions about real estate anywhere in Riverside or the nearby cities, call Pedersen Real Estate at 951-840-5212 or e-mail us at vicki@pedersen-team.com.                                                                             

Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715, Phone: 951-840-5212