Is it still a buyer’s market today in Riverside? As experts in the Riverside real estate market, we get asked this question frequently.
The answer isn’t a simple yes or no.
Location, Location, Location.
Mobile homes in great locations that are priced well have been flying off the shelves. There’s a lot of demand in the market for certain areas, while others can seem like an abandoned area. Just know in real estate, its all about location. Don’t let this discourage you too much, there’s still a way to sell your mobile home if it happens to be in a less-than-desired area.
Buyers want it all – good neighborhoods, access to transportation, shopping, good schools, close to work, affordability. Properties that deliver all these are definitely a hot product. Sellers with a highly desirable property are in control of the market. They often hold the cards when it comes to negotiating, unless you’re a buyer with strong financing.
Condos and mobile homes might be struggling – especially those a little off the beaten path, or with some funky features – it can be a different story. Prices were down in certain areas of Riverside, but seem to be rebounding as the rental market increases. This is likely due to the market “repairing” its self after many businesses closed down during the pandemic. That’s great news!
Investment properties are in demand. The massive amounts of foreign investment cash flooding into the US real estate market has impacted current buying and selling abilities in unique ways. Since most buyers are looking for “move-in ready” homes, investors are jumping on that demand. This is also creating a new standard for selling and buying property. Unless you know how to navigate that field, it can be a intimidating.
Overall, those people in a position to pay cash for mobile homes have been picking up the good deals in the marketplace.
Lots of sellers are trying out speculative prices just to see if anyone bites, but most investors are walking away from deals that don’t fit their plan.
Financing is still a major obstacle for buyers. Banks are being incredibly strict, requiring lots of money down and even changing their terms at the last minute. It’s not uncommon for approved buyers to get their loans pulled right before closing escrow. However, it’s getting better than it was just a couple of years ago.
Overall the markets remain incredibly polarized – there is a lot of action at the very top and the very bottom, with the biggest challenges in the middle. Meaning, people who either have the ability to pay all cash, or who own property in a great location have leverage. Those who are trying to sell property that is either in a poor location, or who’s features are not what buyers are looking for, may be struggling.
Sound confusing? It is. But We Can Help.
There’s a lot of shakeup in the US economy still taking place, and the markets are moving fast in lots of directions at once. This is just a snippet of whats currently going on.
We’re Direct Buyers in the Riverside
area because we believe in the community and the people here. Our goal is to help those who are struggling to sell their mobile home by offering them an all cash payment for their property.
If you’re experiencing any trouble from our current real estate market we would love to assist you, or at the very least, point you in the right direction.
Mobile Homes We Can Work With
- Properties needing repairs
- Properties in need of clean up
- Properties with difficult tenants, or frustrating management
- Properties that have liens, facing foreclosure, or other financial issues
Whatever the problem is, we want to help you by giving you an all cash offer for your property, and give you the power to make your next big move. Why? Because the Riverside community is important to us, and the people who make it a great place to live are the ones who deserve a break.
Give us a call today and ask all the questions you have, we love chatting about our business!
After speaking with us we’ll ask if you’d like to move forward and allow us to view the property. Once we view your mobile home we’ll be able to give you a fair, honest cash offer. If you accept the offer you’ll get to choose when we close the deal. Most people like to close within 7 days, and we make it happen!
Don’t let the current market dictate your plans for bigger, and better things. Give us a call, or fill out the form below to get moving where you want to be.