California is the third-largest U.S. state by land area, after Alaska and Texas. The state ranges from the Pacific coast to the Sierra Nevada mountain range in the east, to Mojave Desert areas in the southeast and the Redwood-Douglas fir forests of the northwest.
Known as the Golden State, California foreclosures added up to around 768 and an astounding 68,000 pre-foreclosed properties. California’s perfect weather and beautiful scenery make it a very desirable state to buy investment property or a dream home.
California is the most geographically diverse state in the nation, and contains the highest and lowest points in the continental United States (Mount Whitney and Death Valley). The center of the state is dominated by the Central Valley, one of the most productive agricultural areas in the world.
California is also the home of several significant economic regions, such as Hollywood (entertainment), Southern California (aerospace), the Central Valley (agriculture), Silicon Valley (computers and high tech), and wine producing regions, such as the Napa Valley, Sonoma Valley and Southern California’s Santa Barbara, Temecula Valley and Paso Robles areas.
Riverside is one of the fastest growing cities in the U.S. It is also, according to Money Magazine, one of the best places to live. It is also one of the fittest cities in the United States being in the top 20 list, and it is the largest city in the Inland Empire metropolitan area of Southern California. It is approximately 60 miles east of Los Angeles, and 12 miles southwest of San Bernardino.
Of all cities in Southern California, Riverside has lower real estate price ranges. This is a significant reason that the area is very attractive for real estate investment.
The increasing number of California and Riverside foreclosures drives the short sale market. Short sale properties are usually driven by the fear of foreclosure. The real estate markets in Riverside offers include a lot of short sale properties on the shelves. Short sale is technically defined as selling a property at a lower price that what remains outstanding on the loan.
Riverside is not just known for its entertainment industry, technology and universities. It is also the best place to find a new home because of the short sale offers due to Riverside foreclosures that are being sold at a lower cost. This is one of the many reasons why new homeowners would want to invest in the city.
The mortgage meltdown is the reality in almost all markets of our country. Out here, California foreclosures have become very bad, as well as Riverside foreclosures. They have given buyers lots of good deals.
categories: Riverside California foreclosure,Riverside California short sale,Riverside short sale,Riverside foreclosure,short sale
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