It is an area that is very attractive to investors, as the people losing homes in the area want to stay there and need a place to rent. All these factors make Eastvale a fairly stable market for this day and age. I don't imagine there would be a substantial drop in prices in the near future. By the way, sales are picking up and our office is seeing more activity after October's slump.
Cynthia I. Nakaya
Realtor, Tarbell, Realtors
12648 Limonite Avenue, Suite 2G
Corona, CA 92880
951.743.3321 Cell/ Text
License # 01818243
Short Sale Certified
Turning House Calls into Homes
Homes in Eastvale may very well drop in price. The big question NOW is: How far and how fast will interest rates rise? Do you remember the 80's? There were double digit interest rates.
If you are a potential buyer waiting for the right time and need to get financing, now is the best time because if the home drops in value but you must pay a higher interest rate, you're likely to end up paying much more in the long run.
It looks as though you answered your own question.
Ever heard of the eye of the storm?
For the most part, Properties under 300,000 should do OK. However there will be a hiccup in the next few months. There are a great deal of adjustable loans resetting in January. November had huge rise in Notice of Defaults filed in Riverside County. In the area I show homes usually there have been around 400 a month in a 10 -15 zip code area, and November had nearly 750 in the same area. I imagine in April the number may rise to around 1200 homes getting their notice of default.
I think we can all look forward to home prices rising in August 2012.
Harold Sharpe - Broker
So Cal Homes Realty
California Department of Real Estate License # 01312992