“A poor thing, a poor thing, says he who is giving money for goods: but when he has gone on his way, then he makes clear his pride in what he has got.”
I’m a real estate geek. Unlike some agents, I pore over new listings, sales, and historical data to uncover trends that might help my clients.
Look at this chart of Moreno Valley real estate sales. It compares the last 30 days with the same period last year. What do you see?
Here are the facts: Sales are down 36% and prices are down 29%. That’s a “poor thing, a poor thing,” right?
Or is it?
A closer look at the facts shows
- The bottom of the market has dropped 53%.
- A year ago you’d pay about $3,153.41/mo. PITI for the average 1,707 sq. ft. house in Moreno Valley. That’s $1.85/sq. ft. on average.
- Today, that same Moreno Valley real estate would cost you about $2,207.01/mo. PITI for a 1,885 sq. ft. house.
- That’s $1.17/sq. ft. … a 37% increase in affordability!
Let’s recap: in today’s Moreno Valley real estate market you can get MORE house for LESS money at a more AFFORDABLE rate.
Perhaps it’s time to show a little pride?
[note: The lawyers forced me to say, “All figures are based solely on my research and calculations. There is no warranty, express or implied, as to their reasonableness or efficacy.You should consult a professional and satisfy yourself before making any decisions.]