The Foreclosure Dilemma - Yes, There Are Excellent Home Values in Riverside County

The number of Foreclosed Homes here in Riverside County is staggering.

The Homeowners who have lost their homes due to job loss, or due to a mortgage payment increase that they did not expect, is heartbreaking.

I have walked through hundreds of homes where the remnants of a family were, and have felt a sinking feeling. I've asked my self, "where to people go"?

The neighbors tell me stories about the people who lived in these homes. Many former homeowners leave their home and rent, some move in with other family members.

I am renting one of my personal investment properties in Crown Hill, to a family who lost their home in San Diego. They were upfront with me about their financial situation. They were loosing their home due to an increase in their mortgage payment. They tried everything to negotiate with their lender, to no avail. It was the only negative on their credit report so I rented to them and they are excellent tenants.

One neighbor of a buyer I sold a home to, told me that the family that lived there purchased another home when they first obtained their "Notice Of Default". Their bank would not re-negotiate their loan. The wife was able to qualify for a new loan on her own and they are in a nicer home with a fixed mortgage.

My neighbor in Crown Hill walked from his home in San Diego and his home in Crown Hill, completely stopped making payments and then purchased a brand new home in Morgan Hill.

The bottom line is that whether it was a bad mortgage or job loss there are thousands of vacant homes here in Riverside County.

I sell short sales and foreclosed homes to First Time buyers and Investors. I do offer "Free Lists", of foreclosed homes to these buyers. Fortunately, in Murrieta and Temecula, most of the homes are not "destroyed by the current homeowner". Many are only a few years old. And of course, I always recommend that all of the necessary inspections that are needed for each home, be completed by the buyer. The home inspectors that I work with know how to inspect a vacant home and check for the current problems that vacant homes have.

What is the alternative? Let them stay vacant? The neighbors that live next to these vacant homes want to have them occupied. Vacant homes are not good for a neighborhood. They invite crime and lower the value of the entire neighborhood.

Real Estate is cyclical, I was involved in the last foreclosure market here in Riverside County, although this time it is two-fold what it was in the eighties.

I don't think that marketing foreclosed homes is unethical. I am providing a service to future homeowners and investors by selling these homes. Prices are low enough so that current young renters and first time buyers can purchase a home now. It is unfortunate that the people who did not intend to loose their homes lost them. However, for the economy to turn around these homes must find new owners.

~ If you are thinking about purchasing or selling your home whether you are a "First Time Buyer", or an "Investor", who wants to work with a local area expert, contact us toll free.

We proudly serve and sell Real Estate in Riverside County, California. We specialize as a buyers agents in Temecula, Murrieta, Menifee, De Luz, Wine Country, Canyon Lake and the surrounding areas. We are also "Custom Home", listing agents for the Temecula Wine Country.