The real estate collapse had a devastating effect on Redlands, but the market has almost completely recovered. This should give every homeowner a reason to feel optimistic about their investment.
Home value averages currently sit around $370,000, and they’re only growing. Within a few years, many Redlands properties will be worth the same as what they were before the real estate market went south.
A lot of homeowners try to list their homes for more than what they’re actually worth in order to avoid losses in realtor commission, but things don’t always work out that way. Almost 16% of homes that sell in Redlands do so at a price cut, making the sale a less profitable venture for the seller. The market is healthy and homes are moving, but things aren’t always all they’re cracked up to be.
The market is in a neutral position. This means that the numbers of buyers and sellers in Redlands are just about even. The buyers come in a scoop up the most desirable homes first, and properties that are less than perfect get pushed onto the back burner.
Foreclosure occurs at average rates in Redlands, in line with the national average of one in every 5,000 properties. If you’re a homeowner who has recently received a foreclosure notice, you can stop that foreclosure from being completed if you find a buyer quickly.