Are you interested in real estate in Perris? Have you considered homes for sale in the Perris, California area? Browse through our guide to get more facts and data…
Real estate in Perris, California includes a wide range of homes for sale. Many of these homes are foreclosures and others may have been sitting on the market for a while, and this means sellers that are motivated in a buyers market.
The housing market in Perris, and the rest of the state of California, has seen a slump in property values since the real estate bubble burst a few years ago. Many owners found that more was owed on their home than the current value of the property. The median home value is still currently at around two hundred thousand dollars, but at one point in the past five years this figure was closer to four hundred thousand dollars.
Foreclosure Properties in Perris California
Perris has been hard hit by the economic downturn, and this means that many homes and real estate properties were lost in foreclosure. This is true in most of the United States, but this entire county in California saw astounding foreclosure numbers.
The problem became so pronounced that the city of Perris was featured on a news show segment for the television series Nightline. The topic of the program was the real estate market and very high number of foreclosures that were happening in Riverside County, California in 2007. This problem is still present today, and listings for homes for sale will show a large amount of foreclosed property that is being sold at a very low price.
Luxury Homes For Sale
Perris, California has many high priced homes for sale. Some of the listings you will find are for real estate with an asking price of one million dollars or more, and some that are two million or above. These homes for sale offer fantastic designs and amenities, together with spectacular views and a reasonable climate all year long. Even at the asking price they are great deals, because the market value in Perris, California is lower due to the recent economic events. Once prices pick back up this real estate will be worth far more than the current asking price.
Availability And Types Of Real Estate
You do not have to be on the market for a million dollar home to live in Perris, California, although you can be. There are many different types of homes for sale, some large and elaborate and others small and modest, and the price range can be from around two hundred thousand or less all the way up to millions. Real estate here can be situated downtown, on the edge of town, or in a secluded area, and you will find plenty of available properties listed to choose from.