Hemet has a lot of quaint homes at reasonable prices. Since it’s located in the Riverside metropolitan area, the region is desirable enough to entice buyers. The recovery of the market has been great, and the market growth has been better than in some of the surrounding cities. It’s steady, and the upward trend is projected to continue for the next few years. It seems like it should be easy to sell in Hemet, but that doesn’t mean that certain homeowners won’t face challenges.
Hemet’s real estate market is both warm and healthy. Homes are selling, even though 10% of them will ultimately sell at a price reduction. The market does slightly favor sellers, but the favor isn’t without compromise. Sellers may have to stretch a little to find the buyers they want, and ultimately let their properties go for a little less than what they’d hoped for. At a value average of $231,000, after a price cut and a realtor’s commission is payed, that little may become a lot.
Another thing to consider is the area’s foreclosure rate. Hemet sees double the national average of foreclosures, with one in every 5,000 homes being faced with foreclosure on a yearly basis. Homeowners in foreclosure can’t wait out the market, reduce the price of their home continuously, and pay an agent’s commission. Thankfully, they don’t have to.