Latest Event Updates

California Home Prices 2015

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May 2015 home sales and price report- taken from car.org 6-15-15

California home sales soften in May but spring home-buying season continues momentum.
  • Existing, single-family home sales totaled 423,360 in May Statewide. That was down 1.1% from April but up 8.9% from May 2014.
  • Statewide sales were above the 400,000 mark for a second straight month.
  • May statewide median home price was $485,830, up 0.8% from April and 4.4% from May 2014.
  • California median home price was the highest since November 2007.
  • Available housing supply remains constrained with 3.5 months of inventory. A six-to seven month supply is considered typical in a normal market.
  • The median number of days it took to sell a single-family home statewide fell in May, down from 34.3 days in April to 28.5 days in May and 31.8 days in May of 2014.
  • Statewide, sales-to-list price ratio market indicator suggests that homes are selling for 99% of the list price, essentially flat compared to May of 2014 at 98.8%.

Thinking about a purchase or sale in The Temecula Valley and how this information applies to your plans?  Call us at 951-522-0518.  We’ve been connecting qualified buyers and sellers in the valley since 1998!

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29070 Via Princesa, Murrieta, CA 92563

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29070 Via Princesa Murrieta CA-print-005-29070 Via Princesa-3456x2304-300dpi   29070 Via Princesa Murrieta CA-print-001-29070 Via Princesa-3456x2304-300dpi$ 135,000

VIEW VIRTUAL TOUR AND ALL PHOTOS HERE

Located in active 55+ community of Spring Knolls in North East Murrieta featuring clubhouse, pool, workout room, etc.

29070 Via Princesa Murrieta CA-print-016-29070 Via Princesa-3456x2304-300dpi  29070 Via Princesa Murrieta CA-print-010-29070 Via Princesa-3456x2304-300dpi

Home is approximately 1660 square feet, has 2 bedrooms, 2 bathrooms + large bonus room that could be a 3rd bedroom, office, recreation room, or additional living space.  Property is in great condition and features a fully fenced large lot with wrap around deck, privacy and views.  No neighboring homes behind!  Peek a boo view of the golf course.

   29070 Via Princesa Murrieta CA-print-032-29070 Via Princesa-3456x2304-300dpi  29070 Via Princesa Murrieta CA-print-038-29070 Via Princesa-3456x2304-300dpi

For more information about this property or any other in the Temecula Valley- call or text Gary and April Greer

at 951-522-0518 or april@teamgreer.com

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California Home Sales Data

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Solid housing market conditions as California pending home sales dial higher from year ago for the fifth straight month (April 2015).

Pending home sales data:

 California pending homes sales were up 13.6% on an annual basis from the 114 index recorded in April 2014, marking the fifth straight month of year-to-year gains and the third straight month of double digit advances.  Pending home sales in Southern California were down 10.4% in April to reach an index of 103.5, but were up 13.5% from the April 2014 index of 91.2.

Equity and distressed housing market data:

 The share of equity sales edged up in April to make up 91.9% of all home sales, the highest level since 2007. Equity sales made up 91% of all home sales in March and 88.3% in April 2014. The share of equity sales has been at or near 90% since mid-2014.

April REALTOR Market Pulse Survey:

 The share of sales closing above asking price has been on an upward trend for three straight months, indicating the return of bidding wars in some local markets. In April 36% of transactions closed above asking price, up from the lowest point of 16% in January 2015.  In April homes that sold above asking price sold for an average of 10% above asking price. Homes that sold below asking price sold for an average of 11% below asking price.  The share of properties receiving multiple offers increased for the fourth straight month. Seventy-two percent of properties received multiple offers in April. The average numbers of offers on a property was 3.6, up from 2.7 in March.

April pending home sales and Market Pulse Survey- taken from car.org 5-28-2015

We’ve been connecting qualified Buyers and Sellers in the Temecula Valley since 1998.  This includes, Temecula, Murrieta, Menifee, Sun City, Wildomar, Winchester and Lake Elsinore.  We’re just a phone call away.  (951) 522-0518 for April or (951) 522-6308 for Gary and we’re here to help!

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Why Wasn’t My Offer Accepted?

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We often run into people that are “TRYING” to buy a house in our area of California (The Temecula Valley).  People who have signed offer after offer to get either no response or multiple counter offers- pushing them out of obtaining the home they want. Eventually these Buyers either start making random offers on houses they don’t even really want- just trying to get one which doesn’t usually solve the problem or they burn out completely on the process.  And they go back to renting, discouraged and not building equity in a home of their own.

In super hot real estate seasons this happens.  Lots of offers.  Lots of chaos.  Only the strong and cash rich get the best houses. Insider trading so to speak, etc.  There are seasons. ( roughly 2011-2013 in our area ) And you have to know what season you’re in when you go out to purchase a home (or sell one).  In some cases only certain areas of the market are being affected by the season. You have to know this too.

But what if the season is neutral?  It’s not a buyer or sellers market right now so a reasonable offer and reasonable negotiations should net you the home you want.  Mortgage rates are awesome, Sellers have gained equity back.  So why isn’t your offer being accepted?  Here are some issues to consider:

  • OFFER IS TOO LOW TO BE TAKEN SERIOUSLY  Unless you have some insider information that the Seller is desperate or they have verbally opened themselves up to a low price…this is dangerous territory.  You run the risk of insulting the Seller and now we are on slippery footing.  Your Realtor should provide you with recent sales around the home so that you are educated on value.  Make reasonable adjustments for upgrades/downgrades and put together a serious offer.  If it’s determined that the house is not priced right to begin with- it usually indicate that the Seller isn’t being serious yet either and well, there’s nothing to be done about that yet.
  • YOU HAVE MULTIPLE OFFERS OUT  Unless you are an investor buying up multiple homes…you shouldn’t have more than one offer out. Every offer you sign is a good faith promise to purchase (if the home passes all your inspections)  Why would you be promising to purchase more than one home at a time?  If I’m the listing agent and I find out you have offers out on more than one house?  You won’t be taken seriously.
  • YOU’RE NOT PRE-APPROVED  Listen the market is faster and smarter than ever before.  You need to be armed with the exact loan dynamics you are planning to purchase this home with.  This information needs to be in writing, submitted with your offer and it needs to be verifiable.  Your financing needs to be clear in your offer to purchase.  If you go house hunting before you have this we run the risk of not being able to obtain the home you want because we can’t prove (yet) that you are capable of the purchase.
  •  YOUR REALTOR IS NOT A PRO  Here are some examples of how your Realtor can cost you the house;
  1. Poor Communicator-  If you have any issues communicating with your agent- this could be an indicator that your agent may have trouble communicating with others, other agents and ultimately-communicating your offer satisfactorily.
  2. Not Accessible- Is your agent part time? Only available nights and weekends? Doesn’t answer their phone or return their calls quickly?  Your agent needs to be 100% accessible during the negotiation stage of your offer.
  3. Not Experienced- There are exceptions to this- we all had to get through our first sales.  But I would argue that most aspects of our business (real estate) cannot be taught.  They have to be learned through trial and error.  Are we better Realtors after 15+ years in the trenches?  Absolutely.

So long story, short- The average days on market in the Temecula Valley have moved into the 30-60 day margin.  This clearly indicates that the market has leveled and has become a more neutral ground for Buyers and Sellers to negotiate in.  If you’re making offers and they are not getting accepted…take a look at this list.  If you determine that a professional, full time real estate team may be the answer…give us a call, text or email at (951) 522-0518 and april@teamgreer.com

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Connecting Qualified Buyers and Sellers in the Temecula Valley since 1998!