Orangecrest Riverside 92508 Market Trends
Active Listings: 29
Pending Listings: 15
Sold Listings: 24
What does this mean to you?
Of the 29 active listings in Orangecrest, Riverside 92508 5 REO's - 9 Short Sales - 15 Standard Sales (interestingly 3 of the standard sales are investor flips. Investors have purchased the homes, within recent months, improved the home and relisted home on the market for a profit.
Concerns to be aware of when dealing with investor flips:
Many Lenders will only finance a purchase price which includes a 20% return on investors original purchase price. Ex: Investor purchased property for $200,000 X 20% = $240,000 new sales price. Have your Realtor investigate this issue prior to submitting an offer.
Many (flips) although sold as standard sales are sold "AS- IS."
We see a decrease in the number of REO (bank owned) properties in the Orangecrest Riverside 92508 communities. The number of short sales appears to indicate more short sale are successfully closing.
The number of pending listings (properties in escrow) indicates buyers are still purchasing homes in the desirable communities. 15 homes were placed in escrow during the month.
Average Sold Price: $280,000 Average price per square foot: $111 Average Days on Market: 67
Orangecrest Riverside 92508 - One of the newer masterplanned communities boasting highly rated school districts and attracting families.
Riverside - Palm Trees, Orange Groves and Families!