Riverside, CA Real Estate News

By Heather Chavez, Real Estate Virtual, Assistant (928) 692-3235
(Second Self Virtual Assistance)
Every December, the historic Mission Inn in Riverside CA is decked out in thousands upon thousands of gorgeous lights.  My son and I look forward to this every year.  This year, I had my handy little Flip camera and was able to take video of the downtown area, including the beautiful Mission Inn.  People ice skate, drink cocoa, eat funnel cake and listen to live music here.  If you're in the area, make sure you stop by.  You'll have the best time. Heather Chavez, Real Estate Virtual Assistance - Second Self Virtual Assistance: When There Isn't Enough of You to Go Around!
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Riverside CA Inventory of Houses for Sale There are a lot of  frustrated home buyers looking for homes in Riverside California.  It is sometimes hard to find very many houses for sale and it is even harder to get an offer accepted.  What is going on?  The inventory of  houses for sale has declined dramatically this year.  Here is a chart to illustrate that the number of listings has dropped by more than 50% since the first of the year.  I just read that the number of listings nationwide has declined for the 17 straight month. It would be great if the banks would release more of the foreclosed houses that they are hanging on to - but we've been holding our breath waiting for that to happen all year.  Buyers, hang in there!  Some people who are persistent and are willing to put in strong ...
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By Joan Bergstrom, Mobile Notary, Riverside CA
(Joan Bergstrom Mobile Notary)
Beginning on Jan. 1, 2010, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) for business will be: 50 cents per mile for business miles driven . Be sure you record very careful documentation for every Notary/Loan Signer appointment you take. Remember the mileage includes, for instance, when you pick up letter/legal size paper at Costco/etc. You can always keep track of you expenses that you actually experience and keep track them of them item by item. I am not a tax expert and just trying to be helpful. http://www.joanbergstromnotarypublic.com  
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Riverside CA Real Estate Market Report - November 2009 Here is a look at what is happening in Riverside CA real estate during the last three months.  This includes only single family houses (no condos). The number of houses currently for sale and in escrow is as of December 2, 2009. Six out of the eight Riverside zip codes had higher sale prices for November than October.  Maybe we have hit the bottom of the market. The number of houses sold has gone down in that same period. The average price for houses that sold in Riverside during November was $224,587. 92501 Nov 2009 Oct 2009 Sept 2009 Number of houses for sale 58 57 52 Number of houses in escrow 61 51 60 Number of sold houses 17 26 20 Average list price of solds  $159,010 $141,977 $148,880 Average sold price of houses $159,571 $140...
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By Heather Chavez, Real Estate Virtual, Assistant (928) 692-3235
(Second Self Virtual Assistance)
The Riverside Festival of Lights is officially on now in Riverside CA.  Officially, this year's Festival of Lights display started on November 27th, but it will continue on until January 3, 2010.  As usual, downtown Riverside has been transformed between University and Mission into a twinkling paradise, complete with hot cocoa, carolers, vendors, live music and our very own outdoor skating rink.  Santa Claus is even available to visit with the kids.  The cost for skating is $10 per hour, with a $3 skate rental fee.  If you plan on skating alot this season, you can purchase a Frequent Skater Card for $50 which will entitle you to one skate hour per day on Sundays through Thursdays throughout the entire month of December. Skating Rink Hours Santa's Hours November 27-December 20 Mondays-Th...
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By Lori Bowers, The Lori Bowers Group
Friday, Dec 4th starting at 5pm is an event to get you in the holiday mood.  Come down to Old Town La Quinta, and listen to the Christmas Carolers and watch the Tree Lighting Ceremony at 6.  All the shops will be open and have their store fronts decorated in the holiday spirit.  we will be having an Open House so please stop  " The Lori Bowers Group for some cookies and Cider and to say hello. Old Town is so beautiful, this is sure to be a great night.
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Here is a look at what is happening as of November 4, 2009 in residential real estate in Corona, CA. There are currently 533 active listings for single family homes for sale.  The information below is organized by Corona CA zip codes.  The average list price of sold homes shows the average price as listed on the multiple listing service and the average sold price shows the average actual sales prices.  The average prices of the sold homes for October was $340,233. 92879 Oct 2009 Sept 2009 July 2009 Number of houses for sale 96 87 90 Number of houses in escrow 132 152 137 Number of sold houses 37 57 42 Average list price of sold houses $262,251 $263,414 $238,643 Average sold price of houses $263,989 $268,586 $240,112   92880 Oct 2009 Sept 2009 July 2009 Number of houses for sale 138 136 ...
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Here is a look at what is happening in Riverside CA in real estate during the last three months.  This includes only single family houses, no condos are included. The number of houses currently for sale and in escrow is as of November 4, 2009.  Prices seem to be still moving around quite a bit - four of the eight Riverside CA zip codes had higher sold prices than in September 2009 (or lower prices - depending on how you look at it - the glass is half full or the glass is half empty).  The average price for houses that sold in Riverside during October was $205,644. 92501 Oct 2009 Sept 2009 Aug 2009 Number of houses for sale 57 52 21 Number of houses in escrow 51 60 15 Number of sold houses 26 20 16 Average list price of solds  $141,977 $148,880 $173,450 Average sold price of houses $140,...
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
12 Terrific Things to do in Riverside CA Here is a list of some of my favorite things to do in Riverside:  ArtswalkOn the first Thursday of every month, 17 locations in downtown Riverside are open to the public from 6 – 9 p.m. Participating institutions host art openings, performances, tours, talks and more. Start at any location. This event is free. Benedict CastleBenedict Castle, a Medieval-Spanish structure with strong Moorish influences, was built in two stages between 1921 and 1931 as a luxurious home for Charles W. Benedict. The castle and grounds have been painstakingly restored. The Castle is located at 5445 Chicago Avenue. For more information on booking a tour visit www.benedictcastle.com .California Citrus State Historic ParkThe design of the park is reminiscent of a 1900s ci...
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Here is a look at what is happening in Riverside CA real estate during the last three months.  This includes only single family houses, no condos are included. The number of houses currently for sale and in escrow is as of October 7, 2009.  Prices seem to be still moving around quite a bit - five Riverside CA zip codes are lower for September than they were in August.  Also, it is interesting to note that in all but one zip code, the sold prices were higher than the list prices, showing that houses are selling for more than they are listed due to continued strong demand by buyers.   92501 Sept 2009 Aug 2009 July 2009 Number of houses for sale 52 21 59 Number of houses in escrow 60 15 44 Number of sold houses 20 16 28 Average list price of sold houses $148,880 $173,450 $147,671 Average s...
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By Nikki R Aguirre
(Nikki Aguirre - Broker)
 To put things into perspective, my husband - Alex, ran an analysis on our clients who have given up on their home search due to the competition in buying a houses and waiting for Bank owned homes to hit the market. He was up until  3am, God bless him, doing the business recap. 16 Client gave up on their dream to buy a home...and we are just one team. I can't imagine the number of people who have given up. Like many others, we are looking for some relief in a a drought of a market. We have heard that a new wave of bank owned homes will be coming to the market...but when? We have been told the same story over and over since March of this year. Can we truly expect a wave of foreclosures to provide an opportunity to first time that are bidding on multiple houses just to get one accepted? Y...
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By Joan Bergstrom, Mobile Notary, Riverside CA
(Joan Bergstrom Mobile Notary)
This book is the   5th Edition by Laura Vestanen. Effective and practical techniques to get notary work outside the loan industry. The marketing advise includes marketing to different companies, networking, where to obtain legal forms (free) and much much more......  Laura is the absolute authority on acquiring non loan signing work by Notaries. The new edition has the most current information on low cost/low technical Internet marketing advise available.  Even if you are not a notary, this information on Internet marketing would be invaluable!You can contact Laura for purchase or for more information:  www.professionalnotary.com or email professionalnotary@yahoo.comThis book is fabulous in my opinion!http://www.joanbergstromnotarypublic.com
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Here is a look at what is happening in Riverside CA real estate for August 2009.  This includes only single family houses, no statistics for condos are included. The  number of houses for sale and in escrow is as of September 14, 2009.  Prices are moving - some of the zip codes show increasing prices and some continue to show decreasing prices.   92501 Aug 2009 July 2009 June 2009 Number of houses for sale 21 59 63 Number of houses in escrow 15 44 48 Number of sold houses 16 28 29 Average list price of sold houses $173,450 $147,671 $150,890 Average sold price of houses $172,838 $150,264 $151,197   92503 Aug 2009 July 2009 June 2009 Number of houses for sale 86 232 250 Number of houses in escrow 100 295 320 Number of sold houses 116 122 119 Average list price of sold houses $217,010 $214...
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By Heather Chavez, Real Estate Virtual, Assistant (928) 692-3235
(Second Self Virtual Assistance)
**These photos were taken by my very own camera and are my property.  However, if you like what you see and want to use them for yourself, feel free to do so.  Simply mention where you got them.  I'd appreciate it. ** Heather Chavez - Second Self Virtual Assistance: When There Isn't Enough of You to Go Around!
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Its the middle of August and home sales are strong in Riverside CA. As of today, August 14, 2009 there are 984 houses listed for sale on the multiple listing service.  Here is a breakdown of sales activity in the different price ranges.   Riverside CA Active Pending/In Escrow Sold in the Last 45 Days Low  ($39,000-$160,000) 274 448 301 Low Middle ($160,001-$265,000) 336 442 230 Middle ($265,001-$400,000) 178 195 100 Middle High ($400,001-$750,000) 141 77 55 High ($750,001 and above) 55 5 2 Homes that are priced right are selling and buyers who are qualified are definitely able to get loans.  The income tax credit of $8000 for first time home buyers, the low housing prices and the low interest rates are causing a lot of buying activity.  In order to get the tax credit, the house must clo...
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Here is a look at the Riverside real estate market for June and July 2009. The number of houses for sale continues to decline, which it has been doing steadily for many months.  One interesting thing to note is that in six out of the eight Riverside CA zip codes, the prices of the homes that sold last month has risen from June price levels.  I believe that is a signal that we could be at the bottom of the housing market.  These numbers could be higher because of the $8000 first time buyers tax credit which ends December 1st.  After that is no longer available, the numbers may fall again.  92501 July 2009 June 2009 Number of houses for sale 59 63 Number of houses in escrow 44 48 Number of sold houses 28 29 Average list price of sold houses $147,671 $150,890 Average sold price of houses $...
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
Here is a brief snapshot of the current real estate market in Victoria Grove, a wonderful gated community in the southwestern part of Riverside CA as of July 28, 2009.9 Active Listings Priced from $308,900 to $449,944 4 short sales, 2 bank-owned, 3 standard sales 21 in Escrow   Priced from $269,900 to $495,000 11 short sales, 6 bank-owned, 4 standard sales 11 Sold (Within the Last 60 days)   Priced from $255,000 to $440,000  3 short sales, 5 bank-owned, 3 standard sales Click here to learn more about Victoria Grove.   Click here to read a blog all about Victoria Grove.   Victoria Grove, in Riverside, CA is a wonderful neighborhood.  It is actually one of my favorite neighborhoods in Riverside.  If you would like to learn more about Victoria Grove or see photos of the neighborhood/amenit...
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By Brandy Hart
(Capital Pacific Real Estate)
Here in southern California, the word has spread that NOW is the time to buy.  The number of residential sales is up drastically month over month and public opinion has shifted, those who have been waiting and waiting for this bottoming out of the market to occur are now jumping at the opportunity to purchase their first home, upgrade to a larger home, or pick up that investment property they've been talking about.  this buying frenzy is great for our market and is certainly helping to reduce available inventory, BUT... It is creating a whole new dilemma for those looking to buy.  Each day our inventory of homes is shrinking and each day when we as Realtors run our property searches for new listings we are coming up with less and less options for our clients.  Many potential buyers are ...
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By Vicki Pedersen, Providing Exceptional Real Estate Service
(Pedersen Real Estate)
How many foreclosures and/or short sales are on the market right now in Riverside, California?  Here is a breakdown of the current active listings (for single family homes) in Riverside as of July 16, 2009.  Total number of listings     1124 Bank-owned (or foreclosure) listings 234 Short sale listings 494 Standard sale and probate sale 292 Not specified 104   As you can from the numbers above, there are more than twice as many short sales as foreclosures.If you are worried about losing your home to foreclosure, don't wait to act. Contact your lender regarding a loan modification. If you don't seem to get anywhere with your bank, keep trying, be persistent.  If this doesn't work, contact an experienced Realtor regarding the possibility of doing a short sale. There is no cost to you to hi...
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By Heather Chavez, Real Estate Virtual, Assistant (928) 692-3235
(Second Self Virtual Assistance)
This summer, Riverside's University Village is hosting a Summer Concert Series every Wednesday evening from 7-9pm beginning July 15th and continuing through August 19th.  The best part is that it is absolutely FREE to the public.  University Village is the same place I blogged about playing free Bingo earlier this summer.  There will be all kinds of music on display each week: acoustic classic rock, jazz, 80's & 90's rock, reggae, R&B and classic rock.  Like with the Free Bingo, the fabulous businesses at University Village are sponsoring this great event: Rubio's, Quiznos, T-Mobile, GameStop, Starbucks, Juice It Up, Fatburger, Service Plus Credit Union, Ultra Star Movie Theater, The Mad Platter and The Pita Pit.  Stop by any of these establishments to express your appreciation for thei...
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