Posted by Joan Bergstrom on 6/17/08 11:31pm
Msg #251754

The Inland Empire is heating up and not just in temperature!

There are so many foreclosures in Riverside CA that we actually had an increase of purchases in May 2008 compared with May 2007. + 4% over 2007.

I have signed 6 of these loans since last Friday. They are all 1st time borrowers and most of the time I have signed them in their apartments. I did 2 today and none of the 6 loans have been for the same company.

New home loans (Purchase) have typically been closed in offices; but, I have been hired from title, lender, signing companies/etc.


I feel sorry for the borrower(s) in the foreclosed home, but it is nice to see so many military vets, for instance, get the chance to own a home.

The median home loan in Riverside CA in May was $290,000 down from $406,000 a year ago.

I have done 23 loans this month and a bunch of public notary work and it looks like a great month.

Great EOM to everyone!

Reply by Annette_CA on 6/17/08 11:40pm
Msg #251757

Good for you!!!!!!!

Reply by SheilaSJCA on 6/18/08 12:39am
Msg #251762

The bulk of my loan closings since May, have been purchases, either investments out of state or REO's/auctions.

Reply by Jack Tri on 6/18/08 2:01am
Msg #251764

Yes alot of FHA Loans

Reply by DebbieT on 6/18/08 7:24am
Msg #251779

I have been in real estate offices alot lately. Homes here in Cape Coral Florida are moving also. My husband and I are looking to buy. Lots and lots of short sales but the foreclosures dont last a week on the mls listing. Some not even a day. What we find is happening after putting a few offers on different homes is that it has turned into a bidding process. If there is more than one offer on a home the bank wants to know everyones highest offer. It turns into a bidding war. The house we are trying to get the mortgage before foreclosure was 455,000. It was listed for 179,900. 2500 sg ft with 10 and 16 ft ceilings, tile throughtout, swimming pool etc. People are buying. Thats for sure.

Reply by Glenn Strickler on 6/18/08 12:37pm
Msg #251825

Busy in the High Desert as well .... n/m