The Real Estate Market
The market has changed recently and you must understand the way it works. Nowadays houses that are on the market are from people who don’t have equity in their properties and they want to sell. For the few people who do have equity in their properties it’s usually because they own the property free and clear and they have equity or because they’ve never refinanced the property and they owe only a little on it. Most people on the other hand are upside down on their loans and they have to short sale the property they own.
Short Sales
Every city has short sale properties and Moreno valley is no different. A short sale is when a person sells their house for an amount that is lower than what they owe their lender. We have our fair share of short sales and the opportunity is great for someone to take advantage of the properties on the market.
REO’s
An REO property is a property that the Bank has foreclosed on and now they have in their inventory. REO stands for Real Estate Owned. We have a huge list of REO’s for you to choose from. Moreno Valley has some good properties and this is a chance to get great deals in this market. REO properties are just like any other property except it probably has been sitting up for a longer time. In this market every house sits up for some time as well, so they are almost the same.
The Real Estate Market Nowadays
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