“World's Most Complete Neighborpedia”
Explore:   What's happening in your neck of the woods?

Vicki Pedersen - Riverside and Corona CA Realtor

Real Estate Market Report for Riverside California

Here is a snapshot look at the real estate market in Riverside California

The data is shown by ZIP code for the period September 22, 2008 to October 22, 2008. The average list price is the average of all the homes that were on the market during this period - including those that sold, expired, cancelled, were withdrawn, etc. The Riverside real estate market continues to be significantly impacted by the large number of foreclosures. Prices are still declining but the supply of homes on the market is holding steady. The prices are lower than they were in the beginning of 2004.

With the significant price declines, low interest rates and good inventory, it is a good time to buy for those who can afford it. You may have heard that banks aren't lending. They are more restrictive but they are doing home loans. FHA loans are now a large percentage of the home loans that are currently being done. FHA loans are a great way for first time home buyers or those who are strapped for cash to buy a home as they require a minimum of 3% down payment and allow contributions from the sellers to cover closing costs. Most conventional loans are requiring a minimum of 10% down or even more. Many people who thought that they would probably never be able to buy a home in Southern California are now new home owers.

92501

# of Active Listings as of 10/22/2008 164
Average List Price of Those Listings $241,615
# of Homes Sold 23
Average Price of Homes Sold $187,343
Average Number of Days on the Market (Sold Homes) 57
Average Size of Sold Homes (in Square Feet) 1490

92503

# of Active Listings as of 10/22/2008 657
Average List Price of Those Listings $332,533
# of Homes Sold 112
Average Price of Homes Sold $276,216
Average Number of Days on the Market (Sold Homes) 51
Average Size of Sold Homes (in Square Feet) 2133

92504

# of Active Listings as of 10/22/2008 374
Average List Price of Those Listings $299,8
# of Homes Sold 61
Average Price of Homes Sold $249,359
Average Number of Days on the Market (Sold Homes) 63
Average Size of Sold Homes (in Square Feet) 1910

92505

# of Active Listings as of 10/22/2008 302
Average List Price of Those Listings $262,157
# of Homes Sold 45
Average Price of Homes Sold $270,704
Average Number of Days on the Market (Sold Homes) 54
Average Size of Sold Homes (in Square Feet) 1702

92506

# of Active Listings as of 10/22/2008 270
Average List Price of Those Listings $515,302
# of Homes Sold 48
Average Price of Homes Sold $309,677
Average Number of Days on the Market (Sold Homes) 76
Average Size of Sold Homes (in Square Feet) 1775

92507

# of Active Listings as of 10/22/2008 192
Average List Price of Those Listings $245,736
# of Homes Sold 24
Average Price of Homes Sold $219,221
Average Number of Days on the Market (Sold Homes) 53
Average Size of Sold Homes (in Square Feet) 1578

92508

# of Active Listings as of 10/22/2008 237
Average List Price of Those Listings $360,064
# of Homes Sold 57
Average Price of Homes Sold $340,782
Average Number of Days on the Market (Sold Homes) 69
Average Size of Sold Homes (in Square Feet) 2698

92509

# of Active Listings as of 10/22/2008 512
Average List Price of Those Listings $248,862
# of Homes Sold 90
Average Price of Homes Sold $197,145
Average Number of Days on the Market (Sold Homes) 73
Average Size of Sold Homes (in Square Feet) 1510

Data is compiled from the MRMLS.

Please feel free to contact me if you have any questions about the real estate market in Riverside CA or any of the nearby communities or if you are thinking of buying or selling a home or condo. View my website. You can reach me by e-mail at vicki@pedersen-team.com or by phone 951-840-5212.

SEARCH FOR RIVERSIDE, CORONA, MORENO VALLEY HOMES FOR SALE HERE

Riverside CA - Ghostwalk in Downtown Riverside - You're Not Going to Want to Miss This

The California Riverside Ballet Is Up to Its Old Tricks (Halloween tricks, that is)

Ghostwalk in downtown Riverside presented by the California Riverside Ballet is now in it's 17th Year. In 2005 the Ghostwalk event received the recognition as "Best Event in Riverside" and continues to be a tradition gaining additional popularity every year. The weekend before Halloween, the California Riverside Ballet brings the downtown area alive and into it's supernatural theme with stories of horror, mystery & intrigue along with the ever anticipated performances of the CRB Dancers adding to the theme of phantasm and illusion.

The number of people who come to Ghostwalk grows significantly each year. During this event, groups will be guided throughout the historic district of downtown Riverside and will be told scary stories. These tales are told in various ways, incorporating everything from acting to poetry and storytelling to create an "electrifying atmosphere". The first stop is the Riverside Ballet Arts Studio to witness the CRB Dancers beckon the undead to dance. Some of tour locations that people may be brought to are: The Riverside Art Museum - The Metropolitan Museum - The Historic Aurea Vista Hotel - The First Congregational Church.

Don't miss the CRB BOO-TIQUE, additional activities, music, dancing at the boardwalk during the nights event. Bring the whole family for the Annual California Riverside Ballet Ghostwalk. Remember to preorder tickets as the event tour times sell out early.

Event Dates:

October 24th & 25th 2008

Event Times:

5:40 p.m. - 11:00 p.m.

Tours at 20 minute intervals

You must arrive & check in 15 minutes prior to your tour departure to avoid loosing your reservation time.

Event Location:

Downtown Riverside

(windows media)

Ghostwalk Event Infomercial

(realPlayer)

Ghostwalk Event Infomercial

Ticket Information:

$10.00 each. Children 2 & under FREE!

$5.00 additional for the "Ghostly Meal Deal"

951.787.7850

Click here to order your tickets online. I've ordered mine, I hope you get yours soon!! See you at Ghostwalk.

Vicki Pedersen, REATOR in Riverside CA. 951-840-5212 --- my website

Riverside CA - Terrific New Park/Community Center in Orangecrest

orangecrest community centerWoohoo! It's Done - (well...almost)

I just paid a visit to a really terrific place in Orangecrest. It is the new Orange Terrace Library and Community Center and park. This is a wonderful and much anticipated addition to Riverside, particularly to the Orangecrest area.
The buildings include a 25,000 sq ft community center with gymnasium, rooms for classes, banquet room (which can be rented out) and kitchen, and more – I’ll get into that later and a 13,600 sq ft library.
The park has a number of baseball fields (eight I think), a very large grass field (probably for soccer), two playgrounds, several basketball courts, and picnic areas. There is ample parking. There are programs and classes for all ages.
This is one of two awesome playgrounds.
The new library is scheduled to open on October 25. There will be a small café in the library, 39 computer stations, and space for leisure reading and studying. The community center gymnasium is designed for basketball and volleyball, classes, art, theater and music. The banquet room can accommodate up to 350 guests. There will also be a Teen Zone and game room.
I’m very excited about the completion of this project. This is another great thing about living in Riverside that we can add to the list and there are a number of other great projects in progress or planned for in the next several years in Riverside. You can learn more about these projects at Riverside Renaissance.

Lighted baseball diamonds

Orangecrest is a remarkable place to live whether you are single, raising a family or retired. If you’d like to learn more about Orangecrest or are interested in finding out about real estate in Orangecrest, I’d be happy to help you. By the way, the guy precariously standing on the fence - which is up pretty high above the field is my husband, Don.

Orange Terrace Community Cntr 20010 Orange Terrace Pkwy Riverside, CA 951-571-0285

More about Riverside parks

My husband and I are full-time Realtors. We live and work here in Riverside and love it. You can contact us by e-mail vicki@pedersen-team.com or visit our website, Riverside4Homes.com



Good news or bad news? It depends on who you ask.

for sale signHome Prices Still Falling

Home prices are still falling in Riverside County but the number of home sales has gone up almost 44 percent from a year ago. Foreclosure homes are a big part of the market. Currently Riverside County has the highest percentage of foreclosures among the sold homes out the six Southern California counties. Foreclosed homes made up more than 65 percent of the sold homes in August 2008 in Riverside County compared to last year when the number of foreclosure homes as part of the total homes sold was 18 percent. The prices of homes in Riverside County have dropped 37 percent from August of 2007 to August of 2008. Whether you are a prospective buyer or seller, it is important to be aware of the current Riverside real estate market conditions.

You can look at this news in two ways. It is not good news if you are trying to sell your home and are in the same market with the low-priced foreclosed homes. It is great news if you are looking to buy a home. In fact it is such a good time to buy that there is a lot of competition for best priced/best condition homes on the market, particularly homes under $250,000. I’ve seen several instances where my buyers’ offers are competing with more than 10 other offers – all over list price.
I’m really excited that so many people are now finding that home ownership in Southern California is within their reach. The declines in prices of homes to much more affordable levels coupled with the low interest rates makes for a very favorable time to buy a home.
The chart below shows the average interest rates for home loans as of September 29, 2008. These rates are forecast to go up but no one knows when and how much. The information is found at BankRate.com

NATIONAL OVERNIGHT AVERAGES
TODAY
+/-
5.98%
5.87%
5.65%
5.59%
5.98%
5.92%
7.20%
7.06%
6.38%
6.30%
Here are some statistics showing home sales for all counties of Southern California.
Southern California housing sales for August
County
Homes sold August 2007
Homes sold August 2008
Percent change
Median price August 2007
Median price August 2008
Percent change
Los Angeles
6,647
6,138
-7.7
$550,000
$380,000
-30.9
Orange
2,285
2,713
18.7
$642,259
$440,000
-31.5
Riverside
2,834
4,078
43.9
$394,523
$247,450
-37.3
San Bernardino
2,096
2,439
16.4
$360,000
$215,000
-40.3
San Diego
3,104
3,148
1.4
$475,000
$350,000
-26.3
Ventura
789
850
7.7
$575,000
$400,000
-30.4
All Southern California
17,755
19,366
9.1
$500,000
$330,000
-34.0
Source: DataQuick Information Systems
If you are thinking about buying a home in Riverside California or anywhere in the Inland Empire, I’d be happy to help you in any way I can. Providing current, acurate information to my clients is only one of the many things I'm committed to providing. I have one recommendation that I’d like to share, whether you are a first time buyer or have bought and sold several homes, buy and read the book “Mortgage Rip-Offs and Money Savers” by Carolyn Warren. The information in this book will be so helpful. Having knowledge of the process, acceptable charges, what to look for in a good faith estimate and more is a valuable and beneficial tool that you don't want to not have.
Contact me via e-mail at vicki@pedersen-team.com or visit my website, www.Riverside4Homes.com for listings, to search the multiple listing service, or for lots of helpful information.

Riverside CA - Let's go out to dinner and a movie tonight!

A Great Place in Riverside for a Night Out - The Tyler Galleria and AMC Theaters

I'm so glad that the Tyler Galleria (also known as the Tyler Mall) expansion is complete. This has greatly added to the area. That expansion brought in some terrific new restaurants and a beautiful new movie theater to Riverside. It is located very conveniently just off the Tyler St. exit on the 91 freeway. The new building with the theaters and some restaurants is on Magnolia. It is a large building - you can't miss it. My husband and I really enjoy going to movies and dinner here. There is parking in front of the building and in the adjacent parking garage.

The new AMC Theaters Tyler Galleria has 16 theaters. Click the link to find which movies are currently showing and the times. It is on the second level. If you can't do that many stairs well, don't worry there is an elevator and an escalator. With 16 theaters, it is more than likely that you will find a movie that you'll enjoy watching. For dining either before or after the movie, there are lots of good restaurants to choose from.

Restaurants at the Tyler Mall

Riverside's primary shopping center, the Tyler Mall is one of the Inland Empire's top retail destinations. Some of my favorite restaurants are located here. I'm not going to be able to mention all the restaurants here - there are too many and I know I'll leave some out. There are several restaurants located on the outside of the mall and there are a number of fast food restaurants inside, most of which are locted in the Food Court on the 2nd floor.

One of the most popular restaurants is the Cheesecake Factory. This restaurant offers more than 200 eclectic menu selections and 50 cheesecakes and desserts. Lunch and dinner, Mon.-Thurs. 11am to 11:30pm, Fri. and Sat. 11am to 12:30am, Sun. 2pm to 11pm; Sunday brunch 10am to 2pm.

A very popular restaurant in Southern California is located here, PF Chang's China Bistro. This contemporary restaurant dishes up traditional Chinese fare. Lunch and dinner, Sun.-Thurs. 11am to 11pm, Fri. and Sat. 11am to midnight. I had never eaten at PF Chang's before - until this one opened in Riverside late in 2007. It immediately became one of our favorites.

Riverside CA Yard House

Another good restaurant located at the Tyler Galleria is the Yard House. This is on the ground floor of the building where the theaters are located. The Yard House serves American fusion cuisine while rock ‘n’ roll classics play over the high-end sound system. There is a large selection of draft beers. Lunch and dinner, Sun.-Wed. 11am to 11:30pm, Thurs. 11am to 11pm, Fri. and Sat. 11am to 1:00am.

The Elephant Bar and Grill is another restaurant at Tyler Galleria - also located on the ground floor of the theater building. Their hours are 11:00 am –to 10:00 pm Sunday through Thursday and 11:00 am to 11:00 pm Friday and Saturday.

Enjoy your evening out. Riverside has some good and fun restaurants. If you have any questions about Riverside or would like some relocation information sent to you, you can call us at 951-840-5212 or send an e-mail to vicki@pedersen-team.com. To search for houses for sale in Riverside, go to our website, Riverside4Homes.com. Thanks for reading!!!