Market Conditions

Whether you're looking to buy or sell your home in Fontana CA or Poughkeepsie NY Real Estate, it feels a lot like gambling these days. It can be hard to tell just where the market is at, but on this page we'll try to illustrate some of the trends for sunny Fontana.

For many people, losing their jobs isn't the worst part of living in a recession. Finding food to put on the table is one thing, having a roof over your head is far more important. Unfortunately, foreclosures are at their highest rates in decades all over America, and that trend holds true for California. In Fontana, there are currently over four thousand homes in the bank owned stage of foreclosure. While this trend is bad news for homeowners, new home buyers can see this as good news. Any Fontana to Milton Real Estate Agents will tell you that foreclosed houses present a great financial opportunity for buyers, as the listing price for these homes is well below what the previous owners would have paid. The bank is simply looking to recoup their loses, not make a huge profit. If and when the economy recovers, these homes will also increase in value, making them an odds-on favorite for positive financial return.

Again, the average listing price for houses in Fontana today favors buyers. The state rate is sitting at $224,445 for the start of June, which is down 1.4 percent. But the median selling price for Fontana homes is only $185,250, which is down 38% from last year. What this means is that for those looking to sell their home, the timing could not be worse. For buyers, however, this is a great opportunity to get more bang for their buck, reflected in a 14% increase in sales from last year. You don't need a real estate license to see the pattern, though it never hurts to trust the professionals when looking for that diamond in the rough. Who knows? Someday that house in Fontana may share the same value of Toronto real estate acquires, where the average home sells for over $1 million dollars.

A quick look at the selling prices in surrounding cities shows Fontana to be around the middle of the pack in its region of California. The medina selling price for the city is far below prices in Mira Loma and Alta Loma, both sitting above the $300,000 mark, but slightly higher than places such as Bloomington, Rialto, and Riverside, all below $175,000. Grand Terrace is slightly higher at $197,023. With its proximity to some of the more desirable outdoor destinations, Fontana is an excellent location for prospective buyers when compared to surrounding locations and a great place for those looking to escape and sell their Whitby Ontario real estate and slide on down to sunny California.

Though the future of the whole American real estate market is still undecided, as is the recession itself, there are silver linings out there for those interested in buying. For those interested, take charge and buy now because hopefully this opportunity won't last forever.