Find affordable homes in San Bernardino County, CA with real estate agent Jose Sepulveda

Jose notes that the Southern California San Bernardino County housing market has been slow this year due to decreased transactions from increased interest rates. Although the prices have gone up by around 3.5% year over year, the inventory is down by 20% year over year. Foreclosure numbers are going up, and he anticipates preforeclosures to continue to increase. Jose helps his clients find affordable housing by searching for distressed property opportunities. He expects the 2024 housing market for the Inland Empire to pick up in the late part of the second quarter. Foreclosure.com is a great tool to find distressed properties and foreclosure opportunities.

Watch the full video

Foreclosures In San Bernardino County CA
Foreclosures In Rancho Cucamonga, CA

Set up free email alerts for your preferred Zipcodes: https://www.foreclosure.com/alert/

More information about Jose Sepulveda  - https://www.youtube.com/josesepulvedarealtor

Get Free Email Alerts: https://www.foreclosure.com/alert/
Find a Foreclosure home: https://www.foreclosure.com/foreclosures/
Affordable Homes: https://www.foreclosure.com/affordable-housing/
Buying Foreclosure Videos: https://www.foreclosure.com/videos/
Foreclosure articles: https://www.foreclosure.com/articles/

Foreclosure.com is America's largest provider of distressed properties, with more than 1.8 million foreclosure, preforeclosure, bankruptcy and tax lien listings across the United States located conveniently in one place. We deliver the latest, most complete residential foreclosure property listings in an easy, accessible format to our customers and business partners. No other Web site or source comes close to providing the same high level of timely and detailed information than Foreclosure.com.

Like us on Facebook: https://www.facebook.com/Foreclosurecom/
Follow us on X (Twitter): https://twitter.com/foreclosure

Transcript

0:00 - TJones - Welcome to foreclosure.com. My name is Tim Jones. I'm excited to introduce you to our guest, Jose Sepulveda with Exp Realty. Jose, Thank you for taking the time to speak with us.

0:10 - JoseS - Hey, my pleasure. I appreciate your time and your invitation.

0:14 - TJones - Can you tell us about your background in real estate?

0:17 - JoseS - Yeah, actually, my passion has always been working with people and being able to kind of make an impact, and that's what I kind of found here with real estate. A friend of mine actually is who pulled me into this, and really glad I did because it's been very rewarding to be able to work with folks, help them be able to purchase a home, 10th home, fifth home, first home, whatever it may be, it's been very rewarding for me to be able to make that impact on them and eight years later, still here, still going strong.

0:50 - TJones - That's great. It's gotta be good to have a passion where you can help people. So, what are you currently seeing in the Southern California San Bernardino County housing markets?

1:04 - JoseS - You know, what's going on right now is that it's been a slow market this year. And, meaning this, just the number of transactions is not very high. Interest rates as soon as they jumped, you know, everyone that was excited about those low rates bought their home, refinanced their home. Now they're all kind of pulling back and standing on the sidelines. So it's really kind of slowed things down. In fact, I mean, our inventory right now of homes that are for sale, it's down like 20% for year over year. But the ratios are still pretty similar in terms of the buyer/ seller. So, you know. The prices, however, are not going down; they're in fact, actually going up roughly about 3.5% right now year over year of price growth. So, in that sense, it's a normal market. It's just that it's slow. There's not a lot of sales happening.

1:58 - TJones - Interesting. Ok. And how about have you noticed any trends with foreclosures?

2:04 - JoseS - Actually, yeah, they're going up. We've actually had an increase in foreclosures. There's more to it than just simply that because, you know, going back to the, the last three years, everything kind of flipped upside down; the forbearance program put a halt to all those foreclosures that should have happened. Regulations cause banks to be more inclined to work with sellers, or I shouldn't say sellers, but homeowners to be able to, you know, get current, be able to get caught up, and all that's kind of running out. So the foreclosure numbers are going up, it's just that the pre-foreclosure numbers are going up, and I would expect it to continue as, as time continues to pass and, we're still not where we were back in like 2019, but I would expect it to get up there. It's just, you know, everyone has equity today, or most people have equity today. So before it gets to the end and they lose their home, I would expect to see at least a good majority of them look to sell their home before they end up losing it. But there's gonna be an increase in the number of distressed properties.

3:10 - TJones - No, that makes sense. And how do you assist your clients in finding affordable housing in your market?

3:18 - JoseS - One of the tools is this right here with the looking at foreclosures. Because, if you can, again, looking at one of those homeowners that doesn't want to lose their home, you know, that could open an opportunity. So once I know what that buyer is looking for, where they're looking for it, I like to look at the foreclosure opportunities that match up with that and see if we can't find something for them in that, and, you know, these are homeowners that they're, most of them anyway, are gonna be more inclined to make a good deal, you know, not give the house away but make a good deal before they lose that equity.

3:54 - TJones - No, that makes perfect sense. You touched on this earlier, but what are your expectations for the 2024 housing market for the Inland Empire?

4:04 - JoseS - Yeah, honestly, I'm expecting next year to be a little bit better of a year. Probably not until the late part of second quarter, you know, like spring/ summer, kind of in that range. And that's just simply because all the analysis points that we should expect to see rates start coming back down at that point in time. So, you know, when that happens, my opinion is when that happens, when we get down to that low 6% range, kind of not necessarily six, but the low part of the 6%, I would say we should expect to see more people coming into the market and, and things really start picking up by that point. But just, you know, and until that happens, I'm not expecting to see too much change.

4:49 - TJones - Ok. Interesting. And how do you utilize a service like foreclosure.com to find affordable homes?

4:57 - JoseS - For me, I think it's a great tool because, like I was saying of looking for foreclosure opportunities out there. I mean, this is a great tool to be able to find that, you know, what specifically are we talking about? You know, what type of distressed property, foreclosure, pre-foreclosure, short sale, you know, what is it we're talking about? Where are we looking, and you can punch all that in and find what you're looking for, within that scope, and it's not just for us as agents, I mean, you know, and somebody looking to buy a home that they want to move into, they can use it, investors can, it's just, it's a great tool to be able to define that.

5:34 - TJones - Well, that's all the time we have for today. I want to thank Jose again for taking the time to speak with us. Don't forget to sign up for our free email alerts on foreclosure.com. Until next time, I'm Tim Jones with foreclosure.com, and thank you for watching.