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Real Estate

Median-priced home out of reach for most Californians

median priced home

Only 23 percent of California households could afford to buy a median-priced home – $817,950 – during the second quarter of 2021, according to a report. That was down from 27 percent in the first quarter of 2021 and from 33 percent year-over-over, drops caused by low-interest rates and not …

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Riverside industrial building sells for $3.7 million

building sold

An 18,000 square-foot industrial building in Riverside has been sold for $3.7 million. The structure, located at 887 Marlborough Ave., was sold by New Power Inc. in Riverside to a private investor, according to Avison Young Ontario. New Power Inc., which Avison Young represented, is a solar power company. It …

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State housing market continues its return to normal

housing market

Sales of existing, single-family detached homes in California totaled 428,980 in July, the California Association of Realtors reported Monday. That figure, taken from more than 90 commercial real estate brokerages and multiple listing services statewide, was down 1.6 percent from June and two percent year-over-year, according to the Los Angeles-based …

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Horror museum/retail shop to open in Montclair

Man looks at masks in horror retail shop

A year-round horror museum retail shop will soon open near Montclair Place. Art’s Sideshow has leased 3,150 square feet in a neighborhood retail center at Moreno and Vernon avenues slightly east of Montclair Place, according to Progressive Real Estate Partners in Rancho Cucamonga. The location, the company’s first “brick and …

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Mortgage delinquencies decline

Mortgage Charts

Four-point seven percent of all U.S. mortgages were in some stage of delinquency – at least 30 days past due – in May, according to data released today. That was a 2.6 percent decline compared with May 2020, when the national delinquency rate was 7.3 percent, Irvine-based CoreLogic reported. Early-stage …

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Multifamily properties change hands

Sold Sign

Two multifamily properties in Moreno Valley have been sold for $107 million. Tower 16 Capital Partners in San Diego bought the 384-unit Sienna Pointe Apartments, 13933 Chagall Court and the 120-unit Heacock Park Apartments, 13325 Heacock St., according to a statement. Both were purchased off-market from a private investor whose name …

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