Temecula, CA Real Estate News

By Ryan Case
(Pacific Servicing)
How is your market doing? Here there are homes 40-60% below what they last sold for, with an end finally in sight. It appears once banks price these homes at such low prices, multiple buyers show up to write offers and to try and get them. And example would be a property we just sold on 12728 Laury Lane, Moreno Valley Ca 92553. Last sold for $330,000 and we got a cash offer from one of our personal friends for $110,000 and the bank took it! Thats a 66% price drop! I don't know when it will officially bottom out, but I do know its finally affordable for the younger generation to own a home, which is great!!! Pricing here in the Inland Empire is back to 2000-2002 levels (PRE BOOM) and prices still are getting lower, but certain areas have bottomed out, such as Moreno Valley and Perris. Bu...
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By Freddie Castaneda, San Jacinto Valley Real Estate
(Beechwood Realty)
  Just like the title says looking for a great deal on a home, well you should come out to Pechanga Resort & Casino.  Real Estate Disposition Corporation (REDC) will be hosting a Home Auction on April 14th, 2008.  There will be over 80+ properties that will be on display and on the auction block.  This is the new way of getting a home sold that the bank has gotten back as a Real Estate Owned property.  Banks are not in the business of home ownership they are in the business to lend the money to become homeowners.  With hundreds of homes in books banks must get rid of them fast, and well what does that mean for the buyer, a great deal. Come out and see the 80+ homes that are in the city of Temecula and surrounding cities. This auction is great for first time home buyers, buyers who are l...
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By Susan Manning
(Realty Executives)
I just wanted to throw this out there for any of you in the Temecula Valley area.  My son Daniel will be starting high school next year.  No, I can't believe it either!  Anyway, he's a great football player and well I'm really proud of him.  Be sure you keep your eyes and ears open to hear about his playing for Temecula Valley High School!! Obviously I'm a very proud Mama!! Its Manning Time!! 
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By Gene Wunderlich, Realtor & Legislative Liaison
(1st Action Real Estate)
Well the numbers are out and once again it's not  great news for the Inland Empire. While numbers were cautiously positive across the country, including most areas of California, the Inland Empire lagged in both sales volume and median price. It's clear why our median prices continue to slide - the number of bank-owned properties coming on the market has continued at a strong pace and rumor has it we'll see another bubble of these homes hit us in May-June as the next wave of rate resets take their toll. What's less clear is why our sales continue to lag even when the rest of the state and country seemed to have a better month (although you can't predicate any forecast on a single month of stats). In spite of attractive interest rates and a vast inventory of homes available at 2003 price...
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By Susan Manning
(Realty Executives)
Why would you want to work with me? I work hard and will usually accomodate your schedule unless I've made plans (which I do make personal weekend and evening plans and schedule them in too!)  I am always happy to have the work and look forward to working with my clients.I work hard to educate you as the seller or buyer in making the best, educated decision. If you don't understand something, I am happy to explain it to you. I love my job!I have an extension knowlege of the real estate in the area.  I am constantly seeing homes and prices every day.  I'm not a discount broker and I don't give discount valued service. I price myself on communication, my creativity, and my persistance!!I am happy to discuss with you the changing market, whether selling your home is a good decision for you...
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By Freddie Castaneda, San Jacinto Valley Real Estate
(Beechwood Realty)
With the amount of foreclosed properties banks have in their name they must try other methods of selling these properties.  One of the methods that seems to be getting it done is at Home Auctions.  Real Estate Disposition Corporation (REDC) will be conducting a Temecula Home Auction, April 14th, 2008.  There will be over 80+ properties to choose from.  Whether it be a first time home buyer looking for a good deal on their new home or an investor looking to grow its portfolio there is something for everybody here.  To view properties up for sell prior to auction date, there will be 3 separate dates to choose from.  March 22, 29, 30 will be the dates that these homes will be opened for inspection.  So if you are interested in attending this auction please give me a call.  I will be more t...
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By Jeff Dowler, CRS, The Southern California Relocation Dude
(eXp Realty of California, Inc.)
Temecula is wine country in my neck of the woods (i.e., Carlsbad). No, it’s not quite Napa, or Sonoma, or Paso Robles. But it’s ours in the San Diego area and there is much there to be thankful for. Temecula, about 60 miles NE of San Diego and inland from the ocean about 25 miles (and about 45 minutes from Carlsbad), has over 20 wineries to explore. They vary in size and types of wines produced, as well as services they offer – wine tours, restaurants, wine tastings, shopping, and even spa and hotel services (South Coast Winery, Spa and Resort). Located on rolling hills with great views of mountains in the distance in several directions and plenty of orange and lemon groves, Temecula offers a fantastic getaway for a weekend afternoon or the entire weekend. On a recent Saturday, we foun...
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So, in our "declining market" it is very common practice for the REO listings with pools to be drained.  Otherwise the pools need to be maintained which of course will fall under the responsibility of the listing agent.  I believe it is a city ordinance that  the pools be drained because it is a "health and safety" issue to have the standing water providing a mosquito breeding ground especially in the hot summer months.  Interesting.  I am selling an REO pool that has been drained.  The buyer is purchasing the home with an FHA loan backed by HUD who is also very concerned with "health and safety" for the buyer's purchase.  In the eyes of HUD a pool must be filled in order to be safe because if someone falls, guess what, that can be a major safety hazard.  I guess that makes sense.  Does...
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By Susan Manning
(Realty Executives)
Make sure you mark your calendar for May 24th as this is the inaugural event of Its All About Style which is going to be held at Wilson Creek Winery's newly opened event pavillion and restaurant.  This event will be one of the first events to be held in the building which has been under construction.  The gardens will be looking their best as well.  This event is going to have a "Style Lounge/Fashion Faire" from 12noon until 5pm in around the premises featuring designers, health and wellness information, beauty tips, and mini spa stations.  All of this on the lovely grounds of Wilson Creek, and don't forget their Almond Champagne!  Later there will be a full blown professional fashion show and a VIP party afterwards.  Tickets are $25 and $75 for VIP.  Its going to be an event you don't ...
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By Susan Manning
(Realty Executives)
Yesterday, the headline on the paper was that there were going to be 111 teachers laid off in Murrieta our sister municipality.  Another sign of the hard times with which our area is being hit. The face of the needy really isn't what you may typically think it would be - there are lots of professionals who have lost their main source of income because of the housing downturn.  Lenders and agents are a large chunk of people who may be losing their homes and/or are in need.  This Friday morning I pulled up to the Temecula Food Pantry to donate numerous cans of food that I know will not get eaten in my home.  There were large jars of pumpkin and tomato soup, a can of tuna, and some hamburger helper that I can't stand to eat.  I know that these items will help someone who may be going throu...
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By Janice Sutton, Home Stager - Temecula Murrieta
(1st Stage Property Transformations )
Distinguished Meadowview Home!31131 Kahwea Road, Temecula, CA 92591 View Map 3200 sf,4 bedrooms + office,3.5 ba,3 car garage on over an acre of fully landscaped grounds! Upgrades include granite kitchen counters,travertine with granite inlays & upgraded carpeting! Other features include crown moulding, window casings,upgraded baseboards, mirrored closet doors, neutral paint, granite counters in bathrooms, recessed lighting, double oven, built-in cook top, and ceiling fans. Enjoy the park like settings with fruit trees, kids play area with a swing set, gazebo, and lots of lush landscaping!Offered by Marcel Hensley of Keller Williams Temecula (951) 719-0355DetailsAsking Price:799,000MLS:H734276Sq. Feet:3207Lot Size:1.01Bedrooms:4Bathrooms:3.5# of Floors:2Garage Size:3Year Built:1997 Conta...
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By Susan Manning
(Realty Executives)
I've been reading and hearing about how the home equity lines are being taken away from consumers.  I understand the reason the banks are doing this - basically the banks are going bankrupt. That is horrible news for a lot of people though.  For some, its a line of credit that they rely on.  Many Realtors keep their HELOC for the leaner months.  I'm interested to know first hand stories of people who may have had this happen to them.  What banks are the main culprits?  How much notice did they give you? Do you think this was done in a fair manner?  Thanks for taking a minute to give me your feedback!! 
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By Susan Manning
(Realty Executives)
As a short sale listing agent, it is important for me to try to educate the buyers as much as possible on exactly what it means to get involved in this type of transaction.  First of all, let me tell you that "short sale" is kind of an oxymoron.  A short sale usually takes a longer escrow period. I say usually although there is the fluke transaction that gets through in 30 days.  A short sale is when the seller is selling the house for less than what he owes on the sale and so the bank is a third party to the transaction.  This is where the time amount of time in the escrow comes in.  When an offer is presented to the bank it is presented along with the "work out" package from the seller.  This includes all of their financial information, the reason for their financial hardship (the sel...
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By Nick Reis
(R E Global)
Buy or sell the perfect home in Temecula and Murrieta, CA. You can search for homes all over the Temecula, Murrieta and Riverside CA area! You will find a wealth of useful real estate information for home buyers and sellers at my website! Before you buy or sell a home, be sure to view the market information found here. Register for new Temecula, CA listings emailed dailyFind information on buying or selling your next home. Let an expert Temecula, Murrieta and Riverside California Realtor® help you through the real estate buying or selling process. This is a great area to live! Whether you are interested in a certain area or looking for some suggestions, contact us today and we can discuss any question you might have about Temecula, Murrieta and Riverside CA or any of the surrounding cit...
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So you realize that your two year adjustable rate is going to reset in a short while and there is no way that your house is going to appraise in order to refinance.  Or you bought your home one to two years ago and realize there is no way you're going to be able to sell the house for what you owe even though a job change, divorce, or other financial hardship is inevitable.  If you have a definite financial hardship that you can prove in writing to the bank, you have one of six options to consider: Absorb the cost. For most people, this isn't an option.  They either can't afford the increase in payments or to pay the difference in cash for what the are going to owe.  Even if you could absorb the cost, it may not be a wise choice financially even long term.  Modify your loan.  The banks t...
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By Susan Manning
(Realty Executives)
This Sunday I did an open house on a new listing that I have which also happens to be a short sale.  I couldn't believe how many people I had through even though it was raining (which is almost like a national holiday in California by the way.)  Anyway, I had eight groups of people through the doors.  One was the wife of an agent who really liked the house, but decided that the house was just a little bit too small for her family with four children.  The next group through was a neighbor who had the same floor plan and wanted to know why the price was "so low."  She seemed a bit angry and just curious too.  It is a sign of the times that many people in our market are just not aware of how dramatically prices have dropped - even within the past couple of months.  I understand it must be ...
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By Susan Manning
(Realty Executives)
Wow, its amazing how many bank owned listings are available in our area.  I've been working with a buyer for the past two weeks and we've written six offers.  The first one we wrote had another offer just accepted right before we faxed over our offer.  We learned our lesson and made sure to call on the others before we spent the time and did all the paperwork.  The back up choices had three and five offers on the table already.  We kept looking.  I thought we were ahead of the game since we were writing the offers in the afternoon on Monday.  Then again, that is the same as writing an offer on Sunday if the banks are closed.  Monday is still "retail price" for the bank owned properties.  I think we've seen every available home in Temecula that is up to the $250K price range.  It makes s...
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By Susan Manning
(Realty Executives)
Dear Buyer: I know you have been just as excited as I am about how prices have come down into "affordable" range in Temecula Valley.  Did you get your pre-qualification completed with the lender?  I'm touching base to see if we are still on to look at property this weekend.  Better yet, can you take a day off during the week so we can look at homes?  Retail prices are on the weekend and wholesale prices during the week.  This is because most buyers are out on the weekends and your offer gets stacked on top of everyone else's.  And more than likely you're going to be purchasing a bank owned property, and they don't work or accept offers until Monday morning.  Check this out!!!  I had an interesting scenario today that was pretty incredible.  I was out today with a buyer in your price ran...
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By Susan Manning
(Realty Executives)
I wanted to pass this information on to my clients and friends who may be interested in learning more about wine from a top notch winemaker in Temecula Valley.  Doug and Debbie Wiens are personal friends of mine and although I may be a bit prejudiced, I believe they have the have some of the best wines in the valley.  Thanks for taking a look!   CALIFORNIA WINE SCHOOL opens at WIENS FAMILY CELLARS in Temecula!... and coming soon to other locations in Southern California.Click HERE to visit the CALIFORNIA WINE SCHOOL websiteTHIRSTY FOR WINE KNOWLEDGE? Winemaker Doug Wiens is now teaching wine classes at Wiens Family Cellars in Temecula Wine Country, and coming soon to locations in San Diego, Orange County, and Palm Springs. Please visit our website at CaliforniaWineSchool.com to find out...
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A lot of press has been splashed across the pages of our papers regarding the apparently controversial Vagina Monologues.  (Yes, I wrote vagina.)  The play which has been in production for ten years now is based on true interviews with all types of women all over the country.  Black, White, Japanese, Islamic, gay, straight, old, young, Jewish, Hispanic, married, single and just about any variety of which you can think.  The show is based on these interviews and is in a series of vignettes.  The sets and costumes are simple which have added to the success of playing off-Broadway types of venues.  I must tell you that some of the vignettes are shocking, powerful, and amazingly poignant.  Knowing that the content has been written from actual fellow female voices makes the pieces even more ...
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