Riverside County Real Estate News

Temecula, CA USA – Webwire – Wednesday April 1, 2015  Riverside County Real Estate News

Frank Giaimo Broker / Owner Linkpin Realty

In 2015 Riverside County has seen a steady decline in Foreclosure activity for area homes. The numbers have not been at this low level since 2006 which was just prior to the ramp up to prices when homes were increasing in value month over month. There has always been a degree of Foreclosure activity and it appears that in 2015, nationwide, the country will return to or go below historic norms.

In February 2015 in Riverside County total Foreclosure filings which include notices of Default, auctioned properties or bank/investor repossessions were at 1,144 which is over 12 percent lower than February 2014.

From month to month in 2015 the number of foreclosures may look similar to a sine wave if you were to chart the numbers as banks and servicers work through the final bundled portfolios of the distressed housing.

For homeowners in the areas where there have been distressed and abandoned houses this is good news as the housing prices will stabilize and even rise as the unsightly homes are sold and renovated.

Currently in the Temecula Valley area the distressed home wave has not hit as hard as some other parts of Riverside County. You will be hard pressed to find a neighborhood that has home after home of houses in disrepair.

Moving forward, home prices, as stable as they have been in the Temecula Area, may begin to rise as long as interest rates stay at current levels. It has always been the case as interest rates rise the home prices start getting depressed. Right now is an excellent time to buy in Temecula Valley as there is a good supply of new and resale homes available and the interest rates are still very low.

For more information about this article or if you are thinking of buying or selling a home in the Temecula Valley area, Please give me a call at:  951-200-4610.

 

About Linkpin Realty:

Linkpin Realty is a Local California Corporation

Established in November 2008

Corporate Headquarters location:

41593 Winchester Rd Ste 200

Temecula, CA 92590

San Diego Office:  619-749-8726

Temecula Office:  951-200-4610

CA BRE Corp Lic. # 01873081

A FULL Service Brokerage