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February 2010 Market Condition Reports
The Inland Empire continues to see moderate home sales through the month of January with a drop in closings which it typical for this time of the year.
Sales are still dominated by bank owned properties, and short sales.
Prices may still be pressed downward with the recent Governmental interference. The impact of the Economic Stimulus Plan, and Foreclosure Rescue Plan will cause further price declines, and will delay any market recovery. Banks will wait to see what benefits these plans will bestow on them, causing further delays in the reacquisition of default properties. Defaults will also rise because of the encouragement for the general public to seek the rewards of not paying their mortgage.
January 2010 Marketing Reports
The information contained in this report has been gathered from the MRMLS system, and from title records from Commerce Title Company. For individual analysis of any particular area, city or neighborhood please contact Edward J. Zorn, JD, CCIM at 888-573-9248 x.11. Edward J. Zorn is the Broker/Owner of ZEC Realty, Inc. dba Joshua Realty & Loan. Joshua currently services the Lender and Corporate community by providing property analysis and listing services. Joshua also represents homeowners and investors in property acquisition. Edward is currently the Ombudsman for The Inland Gateway Association of Realtors, and is also a Real Estate Attorney. He is available for consultation regarding residential and commercial markets.
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