Riverside Foreclosures And You

The third-largest U.S. state by land area is California. It comes in after Alaska and Texas. Its geography goes 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.

California foreclosures added up to 768 and there were 68,000 pre-foreclosed properties. Known as the Golden State, California has perfect weather and beautiful scenery which make it a very desirable state to buy 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. and, according to Money Magazine, it is one of the best places to live (financial-wise). Riverside 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. It is also one of the fittest cities in the United States ranking up in the top 20.

Compared with other cities in Southern California, real estate prices in Riverside are significantly lower than those in adjacent counties. This makes the area very attractive for real estate investment.

The increasing number of California and Riverside foreclosures has created a large market for short sales. A short sale is simply the selling a property at a lower price as agreed upon by the creditor and debtor. Short sale properties are usually driven by threats of foreclosure. The real estate markets in Riverside include a lot of short sale properties on the shelves.

This is one of the many reasons why new homeowners would want to invest in the real estate in the city. Riverside is not just known for its entertainment industry, technology and universities, but also the best place to find a new home because of its numerous short sale offers driven by Riverside foreclosures that are sold at a lower cost.

The housing crisis is a fact of life in every spot in the nation. Out here, California foreclosures have become very bad, as well as Riverside foreclosures. Both have made housing more affordable.