This new tract is in the Eastvale area of Corona. One of the models in this tract is a 2700 sq/ft 4 bedroom/3 bath home. There's currently 4 of these for sale in this small tract of homes. One is bank owned. 3 of them have set the bar at $539k
13521 SHALLOW BROOK Ct, Corona, CA 92880 (this is the bank owned home)
7473 FOUR WINDS CT7408 Rock Creek CT
These first 3 are all listed for $539K, Then home # 4 drops his price to $450.
13419 Jasper LOOP Same model, same tract but $90K less. Yet even at $90k less this home is not selling. It probably won't because it's not worth $450k. If our intrepid home owner does manage to find a gullible knife catcher and unloads this thing he will walk away scratching his head and wondering how he lost $127k plus carrying costs. After all his agent told him get in now or be priced out forever, because real estate never goes down......
FYI
Eastvale is probably the most overpriced area in Corona. It you don't know where it is you can just follow the smell. It's out in the old dairy farm area, the flatlands near Chino. They've been building $500k-$700k homes for a few years now. I can easily see this area taking a 50% hit. It's nowhere near as nice as South Corona, yet the homes are just as expensive. It's dusty, hot and stinks to high heaven beacause there are still plenty of farms out there.
2 comments:
I don't know why people have taken the developers misinformation and still call Eastvale part of Corona. It isn't even next to Corona. It is north of Norco. Most of the area is closer to Chino and Ontario than Corona. I know at one point the city of Corona was looking into legal action against some of the developers to get them to stop refering to the area as Corona.
As someone who has grown up in Mira Loma, I know that this area was never called or thought to be part of Corona until a few developers started trying to market it as such.
It would be like calling Menifee part of Temecula and ignoring the fact that Murrieta is inbetween.
But your housing info is right on. This area is due for a big fall. The area still has pleny of farm related problems (smell, bad roads) and it also near many gang-infested areas of Mira Loma as you can see by the endless tagging on the wall next to the freeway. The lack of city government, code enforcement and a police force could turn this area into dump really fast.
Good luck trying to get the county out to kick out the squatters who moved into the REO next door.
I aleays wondered why they called this area Corona. I though Corona was on the south side of River Road and North of River was Norco, Chino etc. From what I read it's a great area to set up a indoor farm :-). Lot's of indoor pot farms over in that area in addition to all the other problems.
There's a bunch of developers trying to get part of MoVal changed to Rancho Bellago. That has to be worth another $50k on the price of the homes if they aren't in MoVal. Yea right............
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