|
Winter 2012 Market Update
None
|
|
| Average Home Price | $250,000 - View Graph Trend |
| Average Price Compared to Last Year | Up 0-5% |
| Average Time on Market | 10-30 days |
| Best Selling Price Range | $250,000 - $299,000 |
| Worst Selling Price Range | $400,000 - $449,000 |
| Prices As % of Asking Price | More than 100% |
| Existing Home Prices for the past 90 days are? | Increasing |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More buyers than sellers |
| Buyer Activity for the past 90 days in Murrieta is | Increasing |
| Seller Activity for the past 90 days in Murrieta is? | Increasing |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Seller's are receiving multiple offers within days of listing. The MLS is a little misleading right now due to the fact that short sales often remain available while waiting for the short payoff approval even though they have offers on the home. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | More than 50% |
| Is Financing Available For Qualified Buyers? | Yes |
| Comments on Financing For Qualified Buyers | Most homes in Murrieta and Temecula are priced within the conforming loan limits, not in the jumbo loan market. This makes it much easier to obtain financing with either a VA loan which allows a zero down payment or FHA financing with as little as 3.5% down payment. |
| Housing Inventory | Limited Supply |
| Inventory Comments | Due to the very attractive prices and the incredibly low interest rates, buyer demand is at a very high level. We have many customers who now can afford homes that they might not have been able to a couple of years ago. We also have many investors taking advantage of the incredible opportunities right now. The only drag on the market in Murrieta and Temecula is that the homes for sale are mostly distressed sales, i.e. Bank Owned Foreclosures or Short Sales. They are all receiving offers right away, but the Short Sales remain on the market in most cases while the short payoff request is approved by the seller's lender. This can take several months. |
| Greatest Activity | First Time Buyers |
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates creates a perfect time to buy in Murrieta! |
| Nearest Metro Area | Riverside |
| Housing Hot Spots | Murrieta, Temecula, Winchester, Wildomar, Lake Elsinore, Hemet, San Jacinto. |
| Average Sold Price | $250,000 - View Graph Trend |
Murrieta Local News
News for Murrieta, CA - August 10th, 2010 4:42pm
Homes for sale in Murrieta CA
July 29, 2010 by jcullenpro
Homes for sale in Murrieta, California has changed dramatically in the past 7 years due to the subprime mortgage crisis. A little history about Murrieta California can give some insight on how Murrieta became what it is today. Back in the 1800's, Murrieta was known for its rolling hills when Esequial Murrieta purchased 52,000 acres and gave it to his brother Juan Murrieta. Juan brought over 100,000 sheep to the valley in 1873 to graze the land. It is said that Juan used the Murrieta Hot Springs to bathe his sheep. A railroad was built and brought people from all over the country to visit the Murrieta Hot Springs Resort which is now owned by a bible college called Calvary Chapel Costa Mesa. The residence capitalized from the Murrieta Hot Springs and when the trains stopped in 1935 and so did the tourists. In the 1980's when the interstate 15 was built, a new boom began with suburban neighborhoods an... [ + Read Full Article ]
Contact Information
Dan LoCascio
909-938-3665
Request More Information Let me answer your questions!
Ask Me!
Mortgage Rates
– Feb 13th, 2012 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.60%
15 yr. jumbo rate: 3.96%
Home Values
StreetZip Code
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
| |
Request More Information Let me answer your questions! Ask Me!
Dan LoCascio
Great Western Real Estate Solutions
|
 909-938-3665
|
| Receive New Listings by Email | Get Free Monthly Newsletter | Find Murrieta Homes for Sale | Search Murrieta Real Estate |
(NOTE: Because current market conditions can change rapidly in any given marketplace, please check with the exclusive HouseHunt, Inc., real estate agent for this territory before acting on this information.)
California Homes for Sale |
California Real Estate News | Homes for Sale |
Real Estate Market News | Hot Markets
| Agents Join
“Your #1 resource for finding Homes for Sale, How Much My Home is Worth, Community Information and Real Estate Agents!”
© Copyright 1995-2012 HouseHunt Inc - All Rights Reserved