2009 Temecula and Murrieta Real Estate Review

Category: Real Estate News | Permalink

Published: Friday, January 01, 2010

Wow, what a year for real estate in the Temecula/Murrieta Valley. 2009 saw some of the highest number of home sales in Riverside County since the boom days of 2002-2005. This was due primarily to lower housing prices, along with historically low interest rates. We consistently saw interest rates under 5%. Between the two cities of Temecula and Murrieta we averaged roughly 400-500 home sales per month, which was plenty to keep every realtor at my office more than busy.

We have continued to be amazed at the quality of home you can purchase for $350,000 and under throughout Temecula and Murrieta. The market under $500,000 has really stabilized over the past year and we have already started to see modest appreciation in some areas. Most homes in this price range are sold within the first week with multiple offers over listing price. Our biggest obsticle over the past year has been the appraisal of our homes. We have no shortage of open escrows, but getting appraisers to come to consistent values has been a challenge. In 2010, we expect to see the market continue to stabilize and inventory of homes to dwindle.

The luxury market continues to struggle with a 9+ month supply in the areas of De Luz, La Cresta, and Wine Country. On the bright side we did sell many more luxury homes over $1,000,000 than 2007 or 2008. With prices coming down 30-40% on higher end homes the buyers are starting to come back into the market and snatch up the deals. It is not uncommon to see a home once worth $2.2 million to be selling in the $1.3 million range. You definitely cannot build a fine estate these days for what you can purchase one for on the open market. Most high-end homes are selling for $200-250 per square foot. The estates are typically on 5 to 10 acres with guest homes and all the amenities a person could ever dream for. We believe we are near the bottom for the luxury home market in Temecula and Murrieta.

We are very grateful for a safe and successful 2009 and cannot wait to see what 2010 has to offer. If you or anyone you know needs help buying or selling a home in today's market, please feel free to call us directly (951)514-0003. We want to wish all our friends, family, and clients the very best in 2010.

Best regards,

James Brennan

Luxury Homes for Sale in Temecula

Category: Listings

Published: Monday, January 30, 2012

Temecula luxury homes for sales that include equestrian property are popular among new buyers in the Temecula Valley area. With the central location and local amenities buyers can find exactly what they are looking for in a luxury home or equestrian property in Temecula.

Renderings of Three Homes in Westlake Village in Encinitas

Category: Real Estate News

Published: Tuesday, January 24, 2012

Renderings of three beautiful homes in Westlake Village

Temecula Equestrian Homes for Sale

Category: Listings

Published: Monday, January 23, 2012

The Temecula Wine County offers homes with larger acreage perfect for growing delicious grapes and raising beautiful horses. Equestrian homes for sale in Temecula are a wonderful investment with incredible views of the area and the space to enjoy entertaining and riding.

Short Sale Home in Menifee

Category: Short Sales

Published: Tuesday, January 17, 2012

Short sale homes in Menifee offer an even more attractive price and are sought after by families looking to move to the Temecula Valley and investors wanting to make a profit with a short sale home in Menifee.

Short Sale Homes in Temecula Valley Attract Investors

Category: Short Sales

Published: Wednesday, January 11, 2012

Short sale homes usually sell for less than their original value and can make an easy profit for investors. Even after minor repairs, homes are still sold at profit. The Temecula Valley is attractive for short sales investors due to Valley’s location between large cities of San Diego and Los Angeles.

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