An Increased Number of Riverside County Foreclosures Are Expected to Hit the Market During 2010

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The recent economic downturn has resulted in an increasing number of Riverside County bank owned homes and foreclosure properties entering the market. This current market fluctuation not only has brought more real estate options to buyers, but has created advantageous opportunities for those currently looking to buy in the Riverside County housing market. For example, in the city of Corona, recent data shows that the number of home sales has increased while the prices have considerably decreased, with many bank-owned properties getting multiple offers.

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For example, in the city of Corona, recent data shows that the number of home sales has increased while the prices have considerably decreased, with many bank-owned properties getting multiple offers.

Riverside County in California is a region known for its family friendly neighborhoods, superlative amenities and excellent schools. With its convenient location for commuting into other parts of Southern California and is already considered a growing base for industry, this still relatively affordable real estate destination shows sign of investment potential and considerable growth opportunities.

The recent economic downturn has resulted in an increasing number of Riverside County bank owned homes and foreclosure properties entering the market. This current market fluctuation not only has brought more real estate options to buyers, but has created advantageous opportunities for those currently looking to buy in the Riverside County housing market. For example, in the city of Corona, recent data shows that the number of home sales has increased while the prices have considerably decreased, with many bank-owned properties getting multiple offers.

First-time buyers and investors spurred the sales growth last December 2009, with most paying cash. With the April 2010 extension of the first-time home buyer tax credit of $8,000, many buyers realized this was a perfect time to dive into the market, as they had a variety of available Corona CA homes for sale to choose from, ranging from single-family homes and townhomes, to condos and estates. The result was an inventory decrease of Corona CA foreclosures, as buyers took advantage of the lower prices and lower mortgage rates.

As always, in any market serious homebuyers are always recommended to consult with expert real estate agents to improve the chances of success. Whether buying or selling property, the specialists at Real Estate First will handle all the negotiations as well as the practical and legal issues surrounding a successful closing, plus provide you with the most up to date listings, comparative market valuations and all other pertinent information. In short, they’ll make your transactions worry-free, so that you can concentrate on finding the perfect home for you and your family. Real Estate First looks forward to showing you the many possibilities of real estate investing in Riverside County - get in touch with them to learn more about Riverside County real estate and investment opportunities.

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Giorgio Bertuol
Real Estate First
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