Short sales are at best very frustrating for all parties involved. For a while, only about one short sale in ten was actually closing. The numbers of successfully closed short sales has been increasing. But still there are many short sales that end up being foreclosed on.
Here are some charts showing trends in short sales in Riverside for the past oe year. These do not include all short sales in Riverside, CA - only those which were correctly labeled as short sales.
As of today, June 17, 2009, there are 607 short sale listings currently for sale in Riverside. Again these are only the ones that are correctly labeled as short sales on the multiple listing service.
If you are wondering if you should do a short sale, it is so important to do research. Find out all you can about your alternatives. The first place to go is to try work with your lender about doing a loan modification. Click here to read more about short sales. Short sales are not good for everyone. There may be tax consequences.
If you have any questions about short sales, the real estate market in Riverside or Corona or would like to get help with buying a home, please contact me at vicki@pedersen-team.com.
Written and posted by: Vicki Pedersen, ABR, Pedersen Real Estate, Riverside/Corona, California, 951-840-5212 vicki@pedersen-team.com Visit my website. 
Here is the latest look at Riverside California real estate housing market. These tables show real estate sales for single family homes in Riverside for May,2009.
The number of active listings and pending listings is as June 8, 2009. The average list price of sold homes means the average price of the homes at the time they went into escrow. The average sold price is what the homes actually sold for.
| 92501 | May 2009 |
| Number of houses for sale | 66 |
| Number of houses in escrow | 50 |
| Number of sold houses | 33 |
| Average list price of sold houses | $151,691 |
| Average sold price of houses | $148,387 |
| 92503 | May 2009 |
| Number of houses for sale | 260 |
| Number of houses in escrow | 328 |
| Number of sold houses | 114 |
| Average list price of sold houses | $208,016 |
| Average sold price of houses | $211,988 |
| 92504 | May 2009 |
| Number of houses for sale | 168 |
| Number of houses in escrow | 178 |
| Number of sold houses | 86 |
| Average list price of sold houses | $167,916 |
| Average sold price of houses | $167,827 |
| 92505 | May 2009 |
| Number of houses for sale | 101 |
| Number of houses in escrow | 139 |
| Number of sold houses | 58 |
| Average list price of sold houses | $188,522 |
| Average sold price of houses | $187,206 |
| 92506 | May 2009 |
| Number of houses for sale | 144 |
| Number of houses in escrow | 107 |
| Number of sold houses | 45 |
| Average list price of sold houses | $261,894 |
| Average sold price of houses | $259,840 |
| 92507 | May 2009 |
| Number of houses for sale | 97 |
| Number of houses in escrow | 81 |
| Number of sold houses | 36 |
| Average list price of sold houses | $146,533 |
| Average sold price of houses | $145,442 |
| 92508 | May 2009 |
| Number of houses for sale | 96 |
| Number of houses in escrow | 117 |
| Number of sold houses | 54 |
| Average list price of sold houses | $279,000 |
| Average sold price of houses | $280,228 |
| 92509 | May 2009 |
| Number of houses for sale | 290 |
| Number of houses in escrow | 229 |
| Number of sold houses | 88 |
| Average list price of sold houses | $156,015 |
| Average sold price of houses | $157,720 |
In all of the Riverside CA zip codes shown here, the number of houses for sale has gone down consistently each month since before the first of the year. In fact the decrease in the number of listings from April has gone down by more than 10% in that one month. There are lots of buyers right now vying for the best houses at the best prices. If you have been thinking about buying a home, the timing might not be better than it is now for a long time with the very low housing prices and low interest rates. And don't forget about the $8000 federal income tax credit for first time home buyers (or those who have not owned a home for the last three years).
To quickly go back and check the previous Riverside real estate market report for the first quarter 2009, click here.
If you have any questions about the real estate market in Riverside or Corona or would like to get help with buying a home, please contact me at vicki@pedersen-team.com.
Written and posted by: Vicki Pedersen, ABR, ASP, Pedersen Real Estate, Riverside/Corona, California, 951-840-5212 vicki@pedersen-team.com Visit my website.
If you are wondering how many foreclosures and/or short sales are on the market right now in Riverside, read on. Here is a breakdown of the current active listings in Riverside CA - or houses for sale. These are single family homes only (no condos) and they are "active" listings (not in escrow) as of May 24, 2009.
| Total number of listings | 1162 |
| Bank-owned (or foreclosure) listings | 251 |
| Short sale listings | 558 |
| Standard sale | 253 |
| Other type of sale (i.e. probate or auction or not specified) | 100 |
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 find out that isn't going to work, contact an experienced Realtor regarding the possibility of doing a short sale. There is no cost to you to hire a Realtor to do a short sale. Foreclosures should be avoided at all costs. There is no upside to foreclosure.
If you would like to learn more about short sales or foreclosures or would like to receive listings of houses for sale in Riverside, CA or anywhere in the Inland Empire, let me know. Click here to visit my website.
Written and posted by: Vicki Pedersen, ABR, ASP, Pedersen Real Estate, Riverside/Corona, California, 951-840-5212 vicki@pedersen-team.com Visit my website. 
Here is my latest list of some of the best buys in housing in Riverside CA. These homes are priced from $150,000 to $300,000. I did not include short sales nor listings that do not have any photos. All of these listings are bank-owned (foreclosure) homes but I was not specifically looking for bank-owned homes. For a couple months there seemed to be a shortage of bank-owned homes but the number of foreclosures available seems to be up again -which is great for buyers.
You may wonder how I come up with this list..... I go through all the listings of single family houses - looking at the the price per square foot, the location and the photos. I have not personally visited any of these listings and this list is in no way an all-inclusive list of the best buys - just a cursory search that yielded the following results:
6095 Meadowbrook (bank-owned) 1496 sq ft - $150,000
8715 Nantes Lane (bank-owned) 1706 sq ft - $155,000
1895 Cafalu (bank-owned) 2046 sq ft - $179,800
16209 Gamble (bank-owned) 1816 sq ft/23,958 sq ft lot - $190,000
8388 Rosemary (bank-owned) 1798 sq ft - $220,000
17875 Haygen St (bank-owned) 1726 sq ft/20,473 sq ft lot - $227,900
4582 Sandano (bank-owned) 1948 sq ft, built in 2006 - $245,000
9265 Whiting Wy (bank-owned) 2350 sq ft with pool - $259,900
11732 Tilden Pl (bank-owned) 2479 sq ft - $275,000
150 Port Royal Wy (bank-owned) 2430 sq ft - $299,800
If you would like to see more details and photos of these houses, click here.
If you would like to receive listings automatically as soon as they come on the market or have any questions about real estate in Riverside or Corona CA, contact me at vicki@pedersen-team.com. Or you can visit my website. Or if you would like to read about the current housing market in Riverside, read this blog.
Written and posted by: Vicki Pedersen, ABR, ASP, Pedersen Real Estate, Riverside/Corona, California, 951-840-5212 vicki@pedersen-team.com Visit my website, Pedersen Real Estate.
Here is the latest look at Riverside California residential real estate. These tables show real estate sales for single family homes in Riverside for April of 2009. You might have heard that banks aren't loaning, but that isn't the case. People who qualify can get loans.
The number of active listings and pending listings is as May 6, 2009. The average list price of sold homes means the average price of the homes at the time they went into escrow and the average price of what the homes actually sold for is also listed for comparison.
| 92501 | April 2009 |
| Number of houses for sale | 80 |
| Number of houses in escrow | 57 |
| Number of sold houses | 20 |
| Average list price of sold houses | $127,995 |
| Average sold price of houses | $122,420 |
| 92503 | April 2009 |
| Number of houses for sale | 347 |
| Number of houses in escrow | 293 |
| Number of sold houses | 102 |
| Average list price of sold houses | $193,433 |
| Average sold price of houses | $193,860 |
| 92504 | April 2009 |
| Number of houses for sale | 219 |
| Number of houses in escrow | 169 |
| Number of sold houses | 62 |
| Average list price of sold houses | $190,585 |
| Average sold price of houses | $189,083 |
| 92505 | April 2009 |
| Number of houses for sale | 117 |
| Number of houses in escrow | 138 |
| Number of sold houses | 43 |
| Average list price of sold houses | $174,373 |
| Average sold price of houses | $173,175 |
| 92506 | April 2009 |
| Number of houses for sale | 164 |
| Number of houses in escrow | 93 |
| Number of sold houses | 52 |
| Average list price of sold houses | $270,971 |
| Average sold price of houses | $263,897 |
| 92507 | April 2009 |
| Number of houses for sale | 119 |
| Number of houses in escrow | 66 |
| Number of sold houses | 26 |
| Average list price of sold houses | $175,939 |
| Average sold price of houses | $165,432 |
| 92508 | April 2009 |
| Number of houses for sale | 124 |
| Number of houses in escrow | 105 |
| Number of sold houses | 52 |
| Average list price of sold houses | $319,767 |
| Average sold price of houses | $319,453 |
| 92509 | April 2009 |
| Number of houses for sale | 290 |
| Number of houses in escrow | 203 |
| Number of sold houses | 87 |
| Average list price of sold houses | $162,723 |
| Average sold price of houses | $159,351 |
In all eight of the Riverside zip codes shown here, the number of listings has gone down consistently each month since before the first of the year. The fact that the number of homes for sale is shrinking is a signal that we may be at or near the bottom of the market. If you have been thinking about buying a home, the timing might not be better than it is now for a long time - with the still very low housing prices and historically low interest rates. And don't forget about the $8000 federal income tax credit for first time home buyers (or those who have not owned a home for the last three years).
To quickly go back and check the previous Riverside real estate market report for March and first quarter 2009, click here.
If you have any questions about the real estate market in Riverside or Corona or would like to get help with buying a home, please contact me at vicki@pedersen-team.com.
Written and posted by: Vicki Pedersen, ABR, ASP, DRE # -01435175 Pedersen Real Estate, Riverside/Corona, California, 951-840-5212 vicki@pedersen-team.com Visit my website.
Residential real estate in Riverside, Corona, and Moreno Valley Calilfornia, andl throughout most of the Inland Empire. ABR - Accredited Buyers Representative DRE #01435175
Here's a little bit of information about me...
I am a full time Realtor® and have been for over five years. I work with my husband, Don. We are The Pedersen Team, and we own our own brokerage, Pedersen Real Estate. I love working in real estate and being a Realtor! It is busy, challenging and often all-consuming. I'm totally committed to my clients and being honest with them, dependable and loyal to their needs. I go the extra mile in taking care of my clients and helping make their transactions as stress-free and pleasant as possible. I spend a lot of time with my clients: educating them, counseling them and simply doing whatever needs to be done to help them accomplish their real estate goals. The Pedersen Team motto "Above and beyond" is something I adhere to completely with each and every client. Put my dedication to my clients, professionalism and strong business ethics to work for you.
I am an Accredited Buyers Representative. I specialize in residential real estate for both buyers and sellers. I especially enjoy working with buyers and helping them through the entire process of buying a home.
Don and I have been extremely happily married for 31 years and have an amazing family with three children and four beautiful grandchildren. Our family is the center of our lives. We are proud of our family and are the proud parents of a Marine - ooh-rah! who attends West Point. We have lived in Riverside California for eight years.
The Riverside and Corona area of Southern California is a wonderful place to live. They are both beautiful cities. Riverside is the 12th largest city in California.
Search the entire MLS for not only Riverside, including the surrounding areas: Corona, Moreno Valley, Norco, and all through-out the Inland Empire.
Please browse through our website and make yourself at home. There, you can also request an online valuation of your property-or sign up for free emailed MLS listings. Visit often.
Visit my Riverside CA Real Estate blog.
Photo of the California Citrus State Historical Park, Riverside CA
"My husband and I are very satisfied with the work that Vicki has done as our real estate agent. Vicki was always informative and never pushing or pressuring us to buy a home. She always answered and responded to our needs as soon as possible. Though I am sure Vicki was busy with other clients, she made my husband and I feel important and we felt like she always put us first. Vicki is great at doing counter offers, which helped us to be more confident in getting the home that we really wanted. I will recommend Vicki and Don to family and friends who will be looking for a home. Thanks, Vicki, for all your patience and hard work." May Vang
"The motto of "Above and beyond" is truly the reflection of the Pedersen Team. This goes from the personable to professionalism of handling the business of selling our home in Riverside. I had interviewed 7 agents, all from reputable and large companies. I had many questions especially in a time where selling our house was unfavorable, but our move to Northern CA outweighs a depressed housing market. Vicki Pedersen did her homework - knowledge of my area, first-class brochures and flyers, outstanding web-site showing, plus many more behind the scenes including weekly activity report which I received "heads up" info. I had worked with many agents in the past (had owned 5 homes), Vicki Pedersen just tops them all. Anyone who is planning to sell their home will not be disappointed with the Pedersen Team - integrity, professionalism, knowledgeable - from start to finish" - Roy and Helen Shimizu
"I can't begin to accurately express how much your professional and personal assistance helped us during our relocation. Relocating from afar was stressful and challenging but you eased a lot of that with your competence, outstanding follow-through, and personal touch. You really made the whole process seem easy and as though we had some friends in our new locale that were/are looking out for us. To top it off, you found us a far better home for our family than we would have even thought possible. It was truly a pleasure to work with you and to count you among our new friends in Southern California. Thanks so much!" - Jim and Virginia Bender
"You two have been a blessing since the moment we met you! It was not by chance that we met on that rainy afternoon at an open house. Your professionalism and friendly nature sustained us during a very stressful time. Your marketing and brochures of our former house enables us (and the Good Lord) to sell our house in just days! Thank you for your support, advice and expertise in purchasing our new home. We will always consider you the best realtors we've ever worked with and more importantly, our friends." - Ginger and Steve Olauson
"Dear Don and Vicki, We can't thank you enough for your outstanding support in the marketing and sale of our home. The suggestions you made for enhancing the appearance with small decorator touches and removing some pieces to minimize clutter were right on the money. Your brochures and website were hands down the best, most professional marketing pieces we've ever seen! As a result, we had a serious offer in just two weeks in a softening market. You made sure we were priced right and positioned right for a sale. With all that, you were a delightful couple to work with. Thanks for your advice on counter offers and pushing to see the sale through to a successful close. " - - Glenn and Susan Ferguson
"Vicki, It was a great pleasure to work with you! Bill and I will call you in the future for our real estate needs. You are very kind and generous. It's hard to find a good realtor anymore, but we struck gold with you! " - Bill and April Morris
"How do you sell your house when Ms. Perfect-Home-and-Garden next door along with 12 other homeowners in a 2-mile radius are having for sale signs posted, while the market keeps deteriorating? If you are smart, you hire a team of consummate professioinals who praise the good, point out the less-so, and guide you gently through the improvement process as if you were their only client. Then after less than 30 days, you sign on the dotted line, getting very close to the amount originally asked for and are free to move on. Thank you Don and Vicki! You were a pleasure to work with during a stressful time. I love my new home. And when it, too, needs to be sold I'll be calling you." - Petra Berberich
"The Pedersens went far and above what one might expect of the run of the mill real estate agent. From start to finish, they handled issues as well as my physical property as if it were their own. There was never an issue they didn't solve. The transaction went amazingly smoothly. Don and Vicki are professionals of the highest caliber." - Mary Helen Montjoy
"When we decided to sell our home during a really tough real estate market, we knew we were facing significant challenges and were going to need the best sales team available to help us accomplish our goals. We chose Don and Vicki Pedersen because we were impressed with their knowledge in the general real estate market and, more particularly, with our immediate market. We also felt it would be a great advantage that they worked as a team, which would increase their availability to be directly involved in all important and key aspects of the sales process. Within a very short period of time, we knew we had made the right decision. From staging, to marketing, to weekly market updates, to personally attending showings to prospective buyers, they did everything they said they would do and more. And - our house sold! We are so grateful for Don and Vicki's expert assistance and would recommend them to anyone." - Pam McMahon and T. Lee Fenn
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