Summary: Based on this data between the same time periods in 2009 vs. 2010 sales are down 31%.  In 2009 67% of the sales were REOs, in 2010 only 39% are REOs. Generally the short sales take the most days on the market to sell, and the Standard sales pull the highest prices per square foot.  Most of the listings now are short sales (including homes in foreclosure) and the REOs tend to sell the best. Read the rest of this entry »

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 »