Riverside County Foreclosures Rank 2nd in California
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Published: Thursday, September 10, 2009
Although Riverside County foreclosures are falling for the first time since 2005, the county continues to rank second in California with 1 Riverside County foreclosed homes filing for every 74 households. By comparison, nearby San Bernardino County ranked sixth statewide, with 1 foreclosure listing for every 87 households.
According to data released last week, new Riverside County foreclosures filings fell 16% from July and were down 12% from August a year ago. This is the first time since August, 2005 that foreclosures have fallen in year-over-year comparisons. From the statewide perspective California is the first among the foreclosure leading states to show a decline in foreclosures filings. The numbers reflect new foreclosure proceedings, such as the filing of Notices of Default.
Southwest Riverside County Bank Homes Still Available
Despite these seemingly lower numbers, the Murrieta, Temecula and Lake Elsinore areas remain red hot as far as bank owned homes are concerned. As one of the nation's leading foreclosure areas, Southwest Riverside County bank homes remain the most affordable homes on the market. With median home values among Murrieta foreclosures down 38% in the last year alone, Lake Elsinore foreclosures selling at a median home value of $163,845 and Temecula bank homes listed at prices 36.26% below what they were a year ago, the Southwest Riverside County market is still the best place to buy in Southern California.
With low tax rates and quality schools, these communities offer first time home buyers, investors and move-up buyers alike bargain pricing on large, modern homes with upscale amenities such as granite countertops, dual master bedroom suites and pool-sized yards. The housing boom of the 1990s and early 2000s has created a unique opportunity for new home buyers as several communities suffered greater than average numbers of foreclosures. Combine today's bargain pricing with historically low interest rates and buying a Murrieta, Temecula and Lake Elsinore bank homes becomes more affordable than renting in these same communities.
Don't miss out, act now for find the best Southwest Riverside County foreclosures available. Esocalhomesearch.com is your neighborhood foreclosures expert and can help you find the Riverside County home of your dreams. Use our convenient search tool to view the many Riverside County bank homes available and start living the good life today! Contact our foreclosure specialists at 1-951-415-3607.
Murrieta foreclosures and Temecula bank homes come in all shapes and sizes, with many including upscale amenities and large yards. The professionals at esocalhomesearch.com explain where to look for Riverside County foreclosures bargains.
Murrieta foreclosures and Lake Elsinore bank homes are bringing thousands of new residents to the Southwest Riverside County area, drawn by affordable prices and outstanding recreational facilities that offer something for everyone. From dog parks to equestrian centers, skate parks to skydiving, the foreclosure specialists at esocalhomesearch.com highlight some of the best amenities in the Southwest County.
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