The State of California is the third-largest U.S. state by land area, after Alaska and Texas. Its geography 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.
California foreclosures reached 768 and an astounding 68,000 pre-foreclosed properties. Known as the Golden State, aside from budget-friendly real estate finds, California has perfect weather and beautiful scenery which make it a very desirable state to buy your dream home.
The center of the state is dominated by the Central Valley, one of the most productive agricultural areas in the world. California is the most geographically diverse state in the nation, and contains the highest (Mount Whitney) and lowest (Death Valley) points in the continental United States.
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 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.
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 mortgage meltdown is the reality in almost all markets of our country. In the west, California foreclosures have become very bad, as well as Riverside foreclosures. They have given buyers lots of good deals.
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