Riverside: 4th Top Foreclosure City
Riverside foreclosed homes and houses for sale presently number 6,120 properties in all. Their median listed price is relatively just $285,000. Indeed, it is the conspicuously lower real estate rates in Riverside as compared with those prevailing in its adjacent counties that have caused a volatile residential growth within the city’s limits. This results in a habitual traffic jam on Riverside’s public routes of transport, as the city’s residents daily commute to their employment centers in neighboring Los Angeles and Orange County. Among such city’s suburbs may be included Corona, Banning, Cathedral City, Calimesa, Murrieta, Palm Desert, Rancho Mirage, Temecula, Palm Springs, Wildomar, San Jacinto, Perris, Hemet, Moreno Valley, La Quinta and Indian Wells.
The Riverside government foreclosures have been on the upsurge, in keeping with the trend throughout the US. During August, 2008 one in every 416 US households is deemed to have received a foreclosure notice. California today accounts for one-third of all the government foreclosures activity in the nation. During Q2 or the second quarter of 2008, one in every 65 households in California is recorded to have yielded to the government foreclosures. Riverside, in particular, ranks among the top 5 foreclosure cities in the US. It is ranked fourth, after Merced, Modesto and Stockton, and is followed by Detroit.
Riverside is the county seat of Riverside County, in California State, in the US. The city has been named after the adjoining Santa Ana river, and is the hometown of the California citrus industry. Riverside is the 61st largest city in the US. It is also the largest inland Californian city and a part of the second largest Combined Statistical Area in the country. As per Smart Growth America, Riverside counts as the Most Sprawling US City.
Agents Determine Property Auctions Dividends
The property auctions in Riverside are dominated by influential, local property agents like Ivan Rubio, Maria Navarro, Allan Von Haasum and Ray Ortega. The agents perform the crucial service of getting sellers and buyers of properties with complementary needs to the negotiating table and lead to actual transactions. The agents get remunerated by the sellers from the sale proceeds. As a buyer, you don’t have to pay the agent a dime. First-time investors at the real estate listings auctions, in particular, should invest their money only after having hired the expert services of an agent. A veteran agent well versed in the local terrain and the real estate dynamics can help you to derive the maximum profit from the unusual business opportunity presented by the foreclosure auctions.
Prior to roping in a Riverside agent to aid your search for your dream home in the maze of the government foreclosures, you ought to check his accreditation with the Californian real estate department. California is perhaps the only US state as of now that has put up a list of all its certified real estate agent on the internet, to enable a convenient check by its citizens. You should choose an agent who grants consideration to your individual requirements rather than seeks to impose his choice of a property upon you. A prudent agent will advise you on the maximum bid price that you can afford, as well as the type of mortgage loan that you can conveniently afford to repay. It is your agent who finally gets you to reap a bonanza at the foreclosure auctions.