Loma Linda’s market isn’t always predictable, but things aren’t rough. The market’s value recovery has been successful, and it’s starting to taper off. The average Loma Linda home is valued just below $400,000.
Growth has slowed down significantly, but things are still going well. This has created a market that’s on the healthier side of stable, although it’s in a neutral position. Neither buyers nor sellers have the advantage in Loma Linda.
As far as foreclosures go, the rates are a little higher in Loma Linda. Three in every 10,000 Loma Linda property will enter foreclosure. This is greater than the national average, though not as severe as the foreclosure rates in the surrounding areas.
Foreclosure doesn’t have to be the worst thing to happen to a Loma Linda homeowner. You can sell your property up to the day of the foreclosure auction, and some lenders may be willing to grant you a short sale in order to bypass the auction process completely.