Riverside, California
Including Arlington, Bloomington, Box Springs, Canyon Crest, Casa Blanca, Colton, Corona, Crestmore, Fontana, Grand Terrace, Jurupa, La Sierra, Mira Loma, Moreno Valley, Norco, Perris, Rubidoux, Woodcrest
| Trend | 08/07/2008 | 1 month | 3 month | 6 month | 12 month |
| Median Price | $250,000 | -6.0% | -16.4% | -28.6% | -41.7% |
| Inventory | 14,017 | +3.7% | -0.8% | +2.6% | -3.2% |
Historical Data
| Date | Inventory | 25th Percentile | 50th Percentile (Median) | 75th Percentile |
| 08/07/2008 | 14,017 | $186,900 | $250,000 | $350,000 |
| 08/01/2008 | 14,002 | $189,900 | $255,000 | $350,000 |
| 07/28/2008 | 13,430 | $190,000 | $259,000 | $354,900 |
| 07/21/2008 | 13,470 | $194,900 | $259,900 | $359,000 |
| 07/14/2008 | 14,390 | $195,000 | $260,000 | $359,900 |
| 07/07/2008 | 13,511 | $199,000 | $266,000 | $365,000 |
And here's the county wide numbers
| Trend | 08/04/2008 | 1 month | 3 month | 6 month | 12 month |
| Median Price | $250,000 | -5.6% | -16.4% | -26.3% | -36.7% |
| Inventory | 45,490 | -2.2% | -5.2% | -7.8% | -14.1% |
| Date | Inventory (SFH + Condo) | 25th Percentile | 50th Percentile (Median) | 75th Percentile |
| 08/04/2008 | 45,490 | $180,000 | $250,000 | $369,000 |
| 07/28/2008 | 45,999 | $184,500 | $254,900 | $369,900 |
| 07/21/2008 | 47,243 | $185,000 | $257,600 | $371,175 |
| 07/14/2008 | 45,778 | $189,900 | $259,999 | $379,000 |
| 07/07/2008 | 46,531 | $189,905 | $264,900 | $379,900 |
8 comments:
12 mo -41.7% annualized -41.7%
06 mo -28.6% annualized -57.2%
03 mo -16.4% annualized -65.6%
01 mo -06.0% annualized -72.0%
No, I did not compound.
Well, that certainly puts it in perspective!
So does that mean "there's never been a better time to buy"? Sarcasm off!
They will be paying us to live in them in two years!
FreedomCM
Na, the Chinese will buy them before they get that low. :/
so....ive been waiting for the right deal to come along...and a house that i have been eyeing for over a year finally dropped to $499,900 from $649,000, putting it right in my price range...so i think. i call a lender and with a middle credit score of 627, they want me to put 25% down !!! (My income is WAY substantial...they say it s strictly the "low" credit score) oh, and the interest rate is 6.8%. so heres the deal...now that prices are coming down, interest rates are going up so that the "deal" isnt such a good "deal"...not to mention that a huge percentage of buyers must be getting cut out due to the restrictive guidelines. Guess Ill wait another year....
J Ryan, thanks for sharing your experience, we learn more from one report like that, than a hundred pondering "what ifs". Btw, did you try for an FHA loan? They are supposed to have lower downs and looser credit score levels for acceptance.
JR - the lender is right, 627 is a low score. Anything less than 700 nowadays will get looked at very carefully.
yes, i am seeing that 627 is low....it wasnt too low just 8 months ago when i refinanced my house for $417,000.00 I know that it wasnt a great score...but i didnt think that it was "low". I used to think of 700 as a "great" credit score....i guess that now it is just "good" Yes, the lender was looking at fha.She was just really pessimistic. I called wamu today and they said that they would do it with 25% down, unless my credit was 660 .Oh well...the faster I run, the behinder I get!!
Post a Comment