Riverside is a city in Riverside County, California, United States, located in the Inland Empire metropolitan area. Riverside is the county seat of the eponymous county and named for its location beside the Santa Ana River. It is the most populous city in the Inland Empire and in Riverside County, and is located about 60 miles (97 km) east of Los Angeles. It is also part of the Greater Los Angeles area. Riverside is the 59th most populous city in the United States and 12th most populous city in California. As of the 2010 Census, Riverside had a population of 303,871.
Riverside was founded in the early 1870s. It is the birthplace of the California citrus industry and home of the Mission Inn, the largest Mission Revival Style building in the United States. It is also home to the Riverside National Cemetery.
The University of California, Riverside, is located in the northeastern part of the city. The university also hosts the Riverside Sports Complex. Other attractions in Riverside include the Fox Performing Arts Center, Riverside Metropolitan Museum, which houses exhibits and artifacts of local history, the California Museum of Photography, the California Citrus State Historic Park, and the Parent Washington Navel Orange Tree, the last of the two original navel orange trees in California.
A total commission of 6.0% is typically asked for by “full service” Agents working for the big national real estate firms in Riverside, San Bernadino, Ontario, California. 70% of Sellers list with the first Agent they speak to, and we find that most Sellers who agree to pay a full 6.0% commission do not realize that real estate commissions are NEGOTIABLE!
The national average total real estate commission in 2015 was 5.26% *
In Riverside, San Bernadino, Ontario, California, you will find the following real estate commissions charged*:
Typical Asking Commission: 6.0%
Competitive Commission: 5.0-5.5%
Very Competitive Commission: 4.5-4.99%
The median existing single-family home price in the West rose 7.5%, to $372,400, in the second quarter of 2017 compared to the the second quarter of 2016. Median sales prices for existing homes in the state's Major Metropolitan Areas are as follows:
In the State of California, median home prices are as follows*:
|Metro Area||Median Sales Price||% of Annual Change|
|Anaheim, Santa Ana, Irvine||$788,000||6.5%|
|Los Angeles, Long Beach, Glendale||$514,200||7.1%|
|Riverside, San Bernadino, Ontario||$342,100||8.4%|
|Sacramento, Roseville, Arden, Arcade||$340,000||6.9%|
|San Diego, Carlsbad||$605,000||8.0%|
|San Francisco, Oakland, Hayward||$950,000||8.6%|
|San Jose, Sunnyvale, Santa Clara||$1,183,400||9.1%|
Real Estate Commissions are split between the listing Agent (who works for you to sell your home) and what will be offered on the MLS to any Agent that brings a Buyer to buy your home. In a typical 6% total commission, the listing Broker is paid 3% and 3% is offered on the MLS to all Agents working with Buyers (so they can see what they will earn if they bring their Buyer to your home and complete the sale).
In a competitive commission structure, ranging from 5% to 5.5%, the listing Agent agrees to a listing commission of 2% to 2.5%, and they will recommend that they offer, on the MLS, a commission of 2.5% to 3.0% to the Buyer’s Agent. Your Agent will usually tell you that if they offer less than 2.5% on the MLS that your home “won’t be shown”. This makes sense, in that, all things being equal, the Buyer’s Agent will want as big a payday as possible when they find the right home for their client. This is also especially true if market conditions favor Buyers in a so-called “Buyer’s Market” (high inventory levels in a period of unstable prices).
When you meet with your listing Agent, also remember that, unless they are a “Broker/Owner”, they will have to split their commission with their employing Broker. High producing Agents can work up to getting 90% of the listing commission from their Broker, but typically less experienced Agents may only receive 50% of the listing commission.
At ListingBidder.com, we first negotiate on your behalf a competitive real estate commission structure with HIGHLY EXPERIENCED, HIGHLY RECOMMENDED Agents who know your LOCAL market (even YOUR NEIGHBORHOOD); each ready to bid for your business. These Agents are not just ordinary Agents as many of them are broker/owners and they have the best ability to negotiate their commissions and be competitive, in part because they do not have to share their listing commission with the brokerage firm. This is a direct benefit to you and will save you thousands of dollars in real estate commission fees over the typical fees in California.
Sellers who are also buying a home in the same local market have a volume discount advantage. ListingBidder can use this opportunity to negotiate an even better real estate commission rate fee on the sale of your home because the Agent will be more willing to give a deeper discount (a very competitive rate) knowing there is additional commission being earned on the purchase of another home. Be sure to check the box that you are also buying a home locally to receive these better rates.
Click here to see your savings in just 24 hours…
As of the 2010 census reported that Riverside had a population of 303,871. The population density was 3,731.0 people per square mile (1,440.6/km²). The racial makeup of Riverside was 171,669 (56.5%) White, 21,421 (7.0%) African American, 3,467 (1.1%) Native American, 22,566 (7.4%) Asian (1.7% Filipino, 1.6% Chinese, 1.1% Korean, 1.0% Vietnamese, 0.8% Indian, 0.3% Japanese, 0.1% Pakistani), 1,219 (0.4%) Pacific Islander, 68,111 (22.4%) from other races, and 15,418 (5.1%) from two or more races. Hispanic or Latino of any race were 148,953 persons (49.0%); 41.8% of Riverside's population is Mexican, 1.1% Guatemalan, 1.0% Salvadoran, 0.7% Puerto Rican, 0.3% Cuban, 0.2% Nicaraguan, and 0.2% Colombian. Non-Hispanic Whites were 34.0% of the population in 2010, down from 82.1% in 1970.
The Census reported that 292,322 people (96.2% of the population) lived in households, 8,925 (2.9%) lived in non-institutionalized group quarters, and 2,624 (0.9%) were institutionalized.
There were 91,932 households, out of which 38,939 (42.4%) had children under the age of 18 living in them, 45,398 (49.4%) were opposite-sex married couples living together, 13,845 (15.1%) had a female householder with no husband present, 6,372 (6.9%) had a male householder with no wife present. There were 6,392 (7.0%) unmarried opposite-sex partnerships, and 746 (0.8%) same-sex married couples or partnerships. 18,284 households (19.9%) were made up of individuals and 6,262 (6.8%) had someone living alone who was 65 years of age or older. The average household size was 3.18. There were 65,615 families (71.4% of all households); the average family size was 3.67.
The population was spread out with 81,406 people (26.8%) under the age of 18, 47,126 people (15.5%) aged 18 to 24, 82,482 people (27.1%) aged 25 to 44, 66,615 people (21.9%) aged 45 to 64, and 26,242 people (8.6%) who were 65 years of age or older. The median age was 30.0 years. For every 100 females there were 97.6 males. For every 100 females age 18 and over, there were 95.4 males.
There were 98,444 housing units at an average density of 1,208.7 per square mile (466.7/km²), of which 51,185 (55.7%) were owner-occupied, and 40,747 (44.3%) were occupied by renters. The homeowner vacancy rate was 2.4%; the rental vacancy rate was 7.4%. 168,888 people (55.6% of the population) lived in owner-occupied housing units and 123,434 people (40.6%) lived in rental housing units.
According to the 2010 United States Census, Riverside had a median household income of $56,403, with 17.5% of the population living below the federal poverty line.
Riverside has a diversified economy with significant manufacturing and non-manufacturing sectors. The manufacturing sector is largely light-industry and generates a range of products including aircraft components, automotive parts, gas cylinders, electronic equipment, food products, and medical devices. Supporting the manufacturing sector are several industrial parks, including those in the Hunter Industrial Park, Sycamore Canyon Industrial Park and Airport Industrial Areas. Many of the industrial sites are rail-served, with Union Pacific and Burlington Northern Santa Fe main lines running through the city. As the county seat and largest city in the region, Riverside also houses many legal, accounting, brokerage, architectural, engineering, technology, and banking firms. Citrus production and packing houses still exist within the city, but the industry is in decline.
According to the City's 2016 Comprehensive Annual Financial Report, the top employers in the city are:
|#||Employer||# of employees|
|1||County of Riverside||11,956|
|2||University of California, Riverside||8,306|
|4||Riverside Unified School District||4,000|
|5||City of Riverside||2,507|
|6||Riverside Community Hospital||2,400|
|7||Riverside County Office of Education||1,765|
|8||Alvord Unified School District||1,445|
|9||Parkview Community Hospital||1,350|
|10||Riverside Community College District||1,061|