Temecula Real Estate and Murrieta Real Estate Are Positioned For A Comeback

Category: Real Estate News | Permalink

Published: Thursday, January 14, 2010

Since the peak of the Murrieta Real Estate and Temecula Real Estate Market of late 2005 and early 2006 we have seen a tremendous reduction in prices, some areas as much as 60%. While this is horrible news for those who purchased during the boom, it is great news for the first-time Temecula Homebuyer and Murrieta Homebuyer. In my lifetime, I have never seen such an affordable time to purchase a home. A Temecula Homebuyer or Murrieta Homebuyer can find a beautiful house for under $300,000, which is less than what a home can be rented for in Temecula and Murrieta.

With home prices becoming more and more affordable, there are plenty of opportunities for Temecula short sales and Murrieta Foreslosures. On the flip side with the affordable prices comes much competition with multiple offers on almost every home on the market. In 2009, on average 400 homes per month were sold in Temecula and Murrieta. With our current inventory of homes that gives us roughly a 2-3 month supply of Temecula Homes and Murrieta Homes, which is far below the national average. Most Temecula real estate and Murrieta real estate is selling for 5% to 10% above asking price. I recently had a Temecula Estate get bid up from $400,000 to over $460,000 with 10 offers on the home. It is possible for homebuyers to get a home, but inventories are dropping and it is getting more and more competitive. I can tell you for sure the Murrieta Real Estate and Temecula Real Estate is very well positioned for a great comeback in the years to come.

If you are interested in a Temecula Foreclosure, Murrieta Foreclosure, Temecula Short Sale or Murrieta Short Sale, please give my office a call and ask for me directly, James Brennan. I am more than happy to help with your home purchase or sale. Have a good day and I look forward to hearing from you.

Sincerely,

James Brennan

Vice President

Pacific Coast Realty Group, Inc.

951-695-9555 office

951-514-0003 cell

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Category: Listings

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