Recent Moreno Valley home sales: 2/22/2008
Not taken originally from MLS

So what am I seeing:  mostly REO sales; more FHA financing, no longer 100% financing which was the norm 2 years ago.  Big losses of value.  The lowest sales price of these recent sales is $150,000 – but there are currently 26 pending sales where the house was listed below $150,000.  And 45 single family homes now listed at $150,000 or less – with an average house size of: 1012 square feet (average at $140 per square foot).  In the most recent week of Moreno Valley Notices of Default – there were 56 homes; which is about average.  Compared to about 2 weeks of sales (above) that is a ratio of / about: 6 NODs for every house sold.

$150,000 REO 2/6/2008 95% conv 1149Sqft $130.55 per Sqft
$235,000 6/2004
lost $85,000 in 44 months = – $1932 per month
$175,000 REO 2/14/2008 80% conv 852Sqft $205.40 per Sqft
$244,000 3/2005
lost $69,000 in 34 months = – $2029 per month
$189,000 REO 2/7/2008 95% conv 1422Sqft $132.91 per Sqft
$350,000 6/1/2006
lost $161,000 in 20 month = – $8050 per month
$190,500 REO 2/11/2008 98.6 FHA 1526Sqft $124.84 per Sqft
$270,000 8/1/2004
lost $79,500 in 42 months = – $1893 per month
$200,000 REO 2/5/2008 98.4% FHA 1335Sqft $149.81 per Sqft
$107,000 8/1/2000
$215,000 REO 2/1/2008 CASH 1868Sqft $115.10 per Sqft
$379,000 3/1/2006
lost $164,000 in 23 months = – $7130 per month
$234,000 REO 2/13/2008 90% conv 960Sqft $243.75 per Sqft
$315,000 3/1/2006
lost $81,000 in 23 months = – $3522 per month
$235,000 REO 2/8/2008 CASH 1571Sqft $149.59 per Sqft
$309,000 1/1/2005
lost $74,000 in 37 months = – $2000 per month
$270,000 2/1/2008 94% FHA 1623Sqft $166.36 per Sqft
Not an REO or a short sale
$290,000 REO 2/1/2008 98.4% FHA 1821Sqft $159.25 per Sqft
$152,000 8/1/2001
$293,000 REO 2/5/2008 90% conv 2141Sqft $136.85 per Sqft
$300,000 2/8/2008 100% VA 1743Sqft $172.12 per Sqft
$221,000 10/1/2003
$300,000 REO 2/5/2008 67% conv 1988Sqft $150.91 per Sqft
$465,000 3/1/2006
lost $165,000 in 23 months = – $7174 per month
$332,500 REO 2/8/2008 75% conv 1792Sqft $185.55 per Sqft
$460,000 7/1/2006
lost $127,500 in 19 months = – $6710 per month
$340,000 2/11/2008 90% conv 1865Sqft $182.31 per Sqft
Sold outside MLS: Buyer / Seller had the same last name
$352,000 2/5/2008 98.5% FHA 1885Sqft $186.74 per Sqft
$155,000 11/1/2002
Seller & listing agent had the same name – lowest list price $9000 below sales price
$360,000 REO 2/13/2008 80% conv 2778Sqft $129.59 per Sqft
$515,000 6/1/2006
lost $155,000 in 20 months = – $7750 per month
$387,500 REO 2/4/2008 80% conv 2580Sqft $150.19 per Sqft
$499,000 5/1/2005
lost $111,500 in 45 months = – $2478 per month

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