In riverside county Perris sat in a lull for a few years. It seemed like market recovery would never happen, but eventually, things began to look up. The market started to see measurable growth in the middle of 2013, and that growth has been steady ever since. Though home value averages are about $100,000 less than what they used to be, now sitting in the neighborhood of $275,000, they’ve still grown over $100,000. Perris had a long and bumpy fall, but the future is getting brighter every day.
The market in Perris hasn’t quite normalized itself yet. Despite the value recovery, the market isn’t operating to its fullest strengths. The health is on the lower side of stable, which is a somewhat upsetting fact. The market is cold, which means its leaning in favor of buyers. Buyers are rare, so when they appear, they typically get to dictate the terms of the sale.
Desperate sellers don’t have a choice, and this leads to many of them reducing the prices of their already inexpensive homes. In fact, nearly 11% of listings will see price cuts before potential buyers become interested. It’s a long waiting game, and many sellers spend that down time investing in repairs and renovations to their homes that may not actually improve their value. Things are tough, and it might be time to see things from a new perspective.