Sketchers USA distribution center – south of the 60 freeway: between Theodore Street and Redlands Blvd – under construction

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Moreno Valley Home Prices and Trends May-June 2010

Bayer Facts: June 22, 2010

Provided by Beverly A. Bayer, SRA (appraiser) 951 247-3674

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What’s New in Moreno Valley

Looks like lots of motel rooms and distribution centers…

SanSai Grill (Towngate Center) hey, its good – lunch included salad, soup and main dish

Sports Authority (Towngate Crossing) big store – lots of cool sporting stuff (also new: Nubi Yogurt)

Straw Hat Pizza (Cactus Commerce Center) Cactus Ave / Elsworth Read the rest of this entry »

California tends to lead the Nation in many ways – lately we are near the top as it applies to unemployment.  Unemployment went from 6.8% in May 2008 to 11.5% in May 2009.  The only states / areas with higher unemployment according to the Bureau of Labor Statistices are:

Puerto Rico at 14.4%

Michigan at 14.1%

Oregon at 12.4% Read the rest of this entry »

I am hearing of lender clients having to wait too long to get their appraisals, values coming in below contract prices and major anger in the appraisal / lending world.  What is causing the Havoc?  All fingers seem to be pointing to the HVCC.  The HVCC is the new Home Value Code of Conduct – an agreement between Fannie Mae, Freddie Mac, their regulator and the District Attorney (Andrew Cuomo) of New York State.    In response to a problem with over-valuations of real estate as at contributory factor in the many bad mortgages that have caused a collapse of the financial world. Read the rest of this entry »

The median price of a 1200 – 1400 square foot house in San Jacinto / Hemet (based on list prices of 30 days of pending sales)

is about: $90,000; for Banning / Beaumont about: $95,000; for Perris / Nuevo about: $107,000; and for Sun City /

Menifee about: $131,000.  For homes between 2000 – 2200 the median prices are about: $135,000 San Jacinto / Hemet;

$200,000 Banning / Beaumont; $145,000 Perris / Nuevo; and $210,000 Sun City / Menifee.  The general trend for these Read the rest of this entry »

10 Moreno Valley Homes Sold 3 Years Ago and What Happened to Them Since

23802 Parkland Avenue

1474sq’        built 1986    .11 acre lot

16605 Vista Conejo Drive Read the rest of this entry »

Affordability, Foreclosures, Inventory and Unemployment 5/20/2009

First Chart is showing what percentage of a population can afford the median priced home, in its area – for Riverside / San Bernardino Counties the lowest percent of families that could afford the median priced home was in the third quarter of 2006 at 18% – now in the first quarter of 2009 it is 65% of families that can afford the median priced home, which is superior to the National affordability rate of 64% for the first quarter of 2009.

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March 2009 Moreno Valley Real Estate Prices down to January 2001 levels. Read the rest of this entry »

The National unemployment rate for Feb 2009 hit 8.1% – that is a significant increase from the Feb 2008′s 6.2. California hit 10.1% in January 2009 – again a big increase over the Jan 2008′s 6.1%.
Riverside – San Bernardino – Ontario (California) had an unemployment rate of 10.1% in December 2008 another big increase over the 6.5% from December 2007. Read the rest of this entry »