Menifee Home Sales for April, 2012:

Total homes sold:  100

Avg. days on market:  78

Avg. sales price:  $196,206 (including Condos/Townhomes)…$197,486 for only Single-Family Homes and $210,279 if we exclude 55+ communities. 

These numbers are off slightly compared to March, 2012, but it’s nothing for alarm.  There were 114 total homes sold in March with an avg sales price of $204,000 and $213,797 excluding 55+ communities.  The Menifee Real Estate Market is still HOT!!!

The Months Supply of Inventory is down to 1.7 months.  The rule of thumb is that if you have six or less months of inventory, you are either entering or are already in a seller’s market. 1.7 months is a lot lower than 6 months.  In fact, this is the lowest level in years.  April, 2011 had close to 6 months supply of inventory.  It’s amazing how quickly the market turns.

Of the 100 homes that sold in Menifee during April, 2012 how many do you think were short sales? Standard equity Sales? Bank owned (REOs)?  If I told you Standard equity sales made up 47% of the market would you be surprised?  They did in fact account for 47 closed sales during April, 2012. Short Sales came in second with 28 closed sales, or 28% market-share.  That leaves us with Bank Owned (REOs) homes.  They made up 25% market-share, or 25 closed sales in Menifee.

These rankings (1. Standard equity sale 2. Short Sales 3. Bank Owned) are the same in the neighboring city of Temecula and very similar in Murrieta.  Will this trend continue?

Being in the trenches and helping both buyers and sellers in Menfiee, Temecula and Murrieta, I’m seeing the housing market shift quickly.  Many homes will have multiple offers within the first few days.  Gone is the strategy of writing low ball offers.  If a buyer comes in low, their offer will be rejected or just ignored altogether.  Buyers simple don’t have the luxury of time anymore.  The Rolling Stones would say, “Time is NOT on your side”. Menifee home buyers cannot wait several days (after homes are listed for sale) to tour homes.

This is an exciting time in Real Estate and I’m curious (like many of you are) to see what the coming summer months bring.

This is Ryan Smith signing off until next time………

The Murrieta Housing Market Update for April, 2012

It’s hard to believe that we’re already a few days into May!  Is it just me, or is this year zooming by?  I’ve always heard that time goes by more quickly the older (I prefer to say wiser) you get.  I’m starting to believe that saying!

Now let’s look at the numbers for the Murrieta Housing Market:

Murrieta Home Sales for April, 2012:

Total homes sold:  181

Avg. days on market:  89

Avg. sales price:  $263,925 (including Condos/Townhomes)…$273,789 for only Single-Family Homes

While the total number of closed sales slipped from 209 in March down to 181 in April, the average sales price increased from $244,038 (including Condos/Townhomes) to $263,925!  That’s quite a jump for only one month!  Does this mean the Murrieta Housing Market is on the road to a recovery?

Do you think short sales, bank owned (REOs) or standard equity sales accounted for the majority of sales in Murrieta?  If you said short sales, you’re wrong!  Standard equity sales lead the pack with 81 closed sales for a 45% market share.  Murrieta short sales and Murrieta bank owned (REOs) tied with each recording 50 closed sales for 27.5% market shares.

The figure that is most staggering to me is the month supply of inventory.  The Murrieta Housing Market is showing only 1.3 months supply of inventory!  Rewind to April, 2011 and the months supply of inventory was over 4.5!  What does this mean?  Quite simply, it means buyers should expect more competition with multiple offers on homes.  Gone are the days of waiting until the weekend to view homes.  If a home is listed for sale in Murrieta on a Tuesday, you better schedule time to view this home on Tuesday.  If you wait until the weekend, the home will either be in escrow or have multiple offers in.  We’re offering a $3,000 BUYERS INCENTIVE to get off the fence and into the game today!

If you’re considering selling your Murrieta home or looking for a Murrieta listing agent, we can help!  In fact, we can get you top dollar for your home and have it SOLD within 59-days or we’ll pay you $2,500!  Check out our WRITTEN GUARANTEE for Murrieta Home Sellers.

I’m interested to see what numbers May brings us.  I’ll be back in front of my computer just 29-days from today with the Murrieta Housing Market Update for May, 2012.

This is Ryan Smith singing off until next time……

The Temecula Housing Market Update for April, 2012 is out!

Temecula Home Sales for April, 2012:

Total homes sold:  179

Avg. days on market:  83

Avg. sales price:  $296,075 (including Condos/Townhomes)…$305,216 for only Single-Family Homes

These number are off slightly compared to the Temecula Housing Market Update for March, 2012.  In March there were a total of 189 homes sold and the average sales price was $300,704 (including Condos/Townhomes)…$312,571 for only Single-Family Homes.

There were some improvements in the Temecula housing market for April, 2012.  The days on market (DOM) decreased by one day and the months supply of inventory slipped even lower to 1.3 months compared 1.5 previously.  The months supply of inventory a year ago was at a HUGE 5 months.  That’s a 74% decrease from year over year!    Decreased inventory in the Temecula housing market is leading me to believe we will start to see some price increases across the board.  I’m already seeing multiple offers on homes and we’ll probably see the days on market dwindle as well.

Of the 179 homes that sold in Temecula this past month, 96 of them were Standard Sales or Equity Sales. This represents 54% of the market share.  Short Sales accounted for 50 closed sales for a 28% market share.  Bank Owned homes only made up 18% of the market for a total of 33 homes closed in April.  Both Temecula Short Sales and Temecula Bank Owned homes saw a decrease in the percentage of closed homes while Temecula Standard Sales experienced a nice increase from the previous month.

If you’re considering buying a home in Temecula, then NOW is the time.  You have to get off the fence and into the game before prices start to increase. You cannot wait until the weekend to tour homes, you have to tour the home within the first few days of it being on the market.  If you decided to wait until the weekend, the home will probably have multiple offers or it will already be in escrow.  We’re offering a $3,000 home buyers credit if you act now!

If you’re considering selling your Temecula home and are in need of a listing agent, we can help!  In fact, we’re so confident in our ability to sell your Temecula home for top dollar and within 59-days, that we’re putting our money where our mouth is.  You will receive a WRITTEN GUARANTEE  that your home will sell within the first 59-days of it being listed for sale, or we’ll pay you $2,500!

This is Ryan Smith singing off until next time…….

The Temecula Real Estate Market is HOT!!! Yes, HOT (in all caps!)!!!  I know there is a lot of misinformation regarding real estate and the markets right now, but I can tell you that our market is HOT because I’m in the trenches and see what’s going on.  The housing inventory is the lowest it’s been within the last three years and probably more than that, I just haven’t tracked it beyond three years.

Historically speaking, when inventory falls, prices increase and the amount of time it takes to sell your home decreases.  Now I don’t want you to get too excited and think because I mentioned prices increasing means your home will be able to sell for $20,000 more or you’ll gain $20,000 in equity within the next 30-days.  I remember that trend from years past and don’t think this market will see falsely inflated home values or non-existent underwriting guidelines.

It’s sad to see Temecula home buyers not having many options right now, especially if they wait until the weekend to tour homes.  If a home is listed on Tuesday, you better do everything you can to tour that home on Tuesday because come Wednesday that home will have at least one offer.  This is assuming the home is in decent condition and is a standard equity sale in Temecula.

If you’re even remotely considering selling your Temecula home or looking for a Temecula listing agent, I want to offer you this:  I will GUARANTEE to have your home sold for top dollar within 59-days, or I will pay you $2,500 if I cannot get it sold during the first 59-days of listing your home for sale.  Now that’s putting my money where my mouth is.  Some restrictions will apply and not everyone will qualify for this Guarantee, but I’m willing to bet that the majority of you will.  Feel free to send me a text, email or give me a call.  I can be reached at 951.595.7490 or ryansmithteam@gmail.com  

This is Ryan Smith signing off until next time……..

We’re working on getting the Temecula Valley Winery directory completed.  It should be on our site very soon.  Now, let’s talk about some events coming up this weekend:

Friday, April 27, 2012

What:  Live Music Fridays - Enjoy live music in our beautiful atmosphere located in quaint and bustling Old Town Temecula… entertainment with Gaither a gifted vocalist & guitarist who has taken over the hearts of Tesoro Winery’s guests since his appearance on the scene after long years entertaining aboard cruise lines all over the world.

When:  Friday from 7 – 10 PM

Where:  Tesoro Winery in Old Town Temecula, 28475 Old Town Front Street at Sixth, Temecula, CA 92590

Cost:  FREE…just buy some WINE!!!

Contact Info:  951-308-0000 or Gaither’s Facebook Fan Page

Saturday, April 28, 2012

What:  Taste of Temecula Valley-2nd Annual - Sponsored by the Temecula Valley Foundation for Excellence in Education (TVFEE), the second annual Taste of Temecula Valley (TOTV) will be held in Town Square (in front of the new Temecula City Hall), Old Town Temecula, and will benefit all schools in the Temecula Valley Unified School District.  This event combines live performances from local and nationally-known entertainers with an opportunity to sample Temecula Valley’s finest foods, wines, and beers.

When:  Saturday from 11:00 Am – 10:00 PM

Where:  Town Square in front of the new Temecula City Hall in Old Town. 41000 Main St, Temecula, 92590

Cost:  Ages 13+ is $10, 12 and under are FREE.  Admission includes includes a “taste” ticket or commemorative wine glass. Guests may purchase additional “taste” tickets for $2 each.

Contact Info:  951-283-5305 or TVFEE’s website

What:  Saturday Nights Live with Dalu – come out and support this talented couple rock some acoustic Rock & Blues

When: Saturday from 7:00 – 10:00 PM

Where:  Tesoro Winery in Old Town Temecula, 28475 Old Town Front Street at Sixth, Temecula, CA 92590

Cost:  FREE….just buy some WINE!!!

Contact Info:  951.308.000 or Dalu’s Facebook Fan Page

Sunday, April 29, 2012

What:  Signature Series at Baily’s Winery - This is an exclusive wine tour available only on The Grapeline and is limited to 24 people. We are taking you to the ‘secret’ production facility tucked away deep in Southern California’s Wine Country for one of the pioneering wineries, Baily Vineyards & Winery. Most don’t even know this place exists and we are going to get a personal tour by Phil Baily himself where the public isn’t usually welcomed, until now…

When:  Sunday from 10:00 AM – 3:00 PM

Where:  Baily’s Winery.  A shuttle will pick you up in Temecula.  Additional charges for pick-ups outside of Temecula.

Cost: $138 per person

Contact Info:  Grapeline’s Signature Series or 1.888.894.6379

If you’re looking for something to do in Temecula, come out and support one of these events or enjoy some time strolling through Old Town, eating at some great local restaurants or just relaxing with your family at the Park.  The weather is expected to be in the low 80′s this weekend so get off of your couch and go enjoy some outdoor fun!

If you’re the owner, manager or event planner at one of Temecula’s local wineries,  feel free to contact me so I can add your upcoming events to our site.

This is Ryan Smith signing off until next time……..

It’s Taco Tuesday at Duke’s Mesquite Broiler in Temecula today!

When:  Today and every Tuesday

Where: Duke’s Mesquite Broiler, 31940 Temecula Hwy #C1, Temecula, CA 92592

What:  Taco Tuesday…check out these specials:

2 Tacos (Beef, Chicken or Carnitas) Rice & Beans only $4.95 for a COMPLETE meal! $3.25 Coronas, $3.75 Margaritas and $5.50 Patron shots, too! C ‘Ya at Dukes on Tuesday! Happy Hour from 2-7 pm…the LONGEST in town! $5 Happy Hour food specials, $4.25 ICE COLD Domestic 25oz. mug,s too!!

Okay, I’m hungry now.  I think it’s time to go enjoy an ice cold one and some TACOS at Duke’s Mesquite Broiler in Temecula.

How to contact Duke’s:

Phone:  951.303.1101

Facebook FanPage (click the highlighted text to access)

Website (click the highlighted text to access)

Who:             Riverside County Transportation Department

What:           Ramp Closures as part of the I-15/Clinton Keith Widening Project

When:          Ramp Closure Hours are 10:00 Pm to 4:00 AM.  All Lanes will be open

By 5:00 AM.

4/19/12, Thursday Night and 4/23/12, Monday Night:  Northbound On/Off Ramps Closed.

4/20/12, Friday Night and 4/24/12, Tuesday Night:  Southbound On/Off Ramps Closed.

*This also includes Northbound and Southbound lanes within the project limits.

Where:         I-15/Clinton Keith, Wildomar

I know many residents who can’t wait for this project to be completed.  The morning and evening traffic on the Off Ramps is a nightmare!  Please plan your travels accordingly.

Camp Pendleton Housing....you won't find this on the base!

Camp Pendleton Housing is more affordable than you think, especially if you’re willing to commute 40 miles to Temecula or a neighboring city in the Valley. I’ve helped many Military buyers buy in Temecula, Murrieta, Winchester and Menifee.  Most of them are surprised to learn how much home they can buy in Temecula Valley compared to homes in Oceanside.

Not only is there much more bang for your buck here when considering Camp Pendleton Housing, but the quality of living and school districts in Temcula are exceptional!  Temecula Valley Unified School District and Murrieta Unified School District are ranked number 1 and 2 respectively within all of Riverside County.  Many of the buyers that are considering moving to Temecula or Murrieta are doing so for the school districts.

This is what I hear, “Ryan, so let me get this straight.  I can find an awesome 4 bedroom home with over 2,000 square feet  in the top school districts for between $250,000 – $300,000?”  That’s right Mr. Buyer, you can have all of that and then some!  In fact, I just pulled 96 “Active” homes for sale from the Multiple Listings Service (MLS)- this is what  REALTORS use to search and market homes- that fit this exact search criteria! How’s that for Camp Pendleton Housing?!?!

It’s sad to think that many Military buyers receive their transfers to Camp Pendleton or Miramar Air Base and they don’t have any idea that Temecula, Murrieta and Menifee are within driving distanace.  In fact, there are a lot of van pools that meet in Temecula and Murrieta that head down to Camp Pendleton and Miramar Air Base. Many of the transferees take one look at housing prices in San Diego County and think they have to settle for a condo, townhome or an old run down home.  This isn’t the case in Temecula Valley. There are so many more options for Camp Pendleton Housing than just Oceanside.

So, if you’re looking for a great place for you and your family to call home, I would highly recommend taking some time to check out some homes in Temecula Valley.  I don’t think you’ll be disappointed with what you find.  Some communities that come highly regarded are:  Harveston, Vintage Hills, Crowne Hill, Redhawk and Paseo Del Sol.

I would be honored to help you with your home search and will credit any Military Buyer $500 towards a home warranty plus donate $250 to the USO on your behalf.  It’s just my way of giving back to those who give so much! Don’t hesitate to call/text me with any questions at 951.595.7490 or email me at ryansmithteam@gmail.com.

Hopefully this post on Camp Pendleton Housing was helpful.

This is Ryan Smith signing off until next time………..

Things to do in Temecula....Family Fun Event in Temecula!

Are you looking for Things to do in Temecula?  If so, why not try Kite Flight on Friday, May 11th!  This Family Fun event is presented by The City of Temecula Community Service Department.

You can show off your Kite Flying skills while enjoying the great vibe here.  Even if you’re not a Kite Flying Ninja you can participate in this Family Fun event.  Bring your own kite or you can purchase one onsite.

Crafts, refreshments and music will be part of this Family Fun Night in Temecula.  Registration is not required and the cost is FREE!!!

This event will run from 6:30 Pm to 8:00 Pm at the Ronald Regan Sports Park Gazebo.

For more information on Things to do in Temecula and this event, you can call Communnity Services at 951.694.6480.

I just might have to show up and demonstrate my Jedi-like Kite skills.

Event Details:

When: Friday, May 11th

Where:  Ronald Regan Sport Park Gazebo

Time:  6:30-8:00 PM

Cost:  FREE!!!

This is Ryan Smith signing off until next time…….

Now let’s talk about the Temecula housing market.  The following question is asked by Temecula Sellers, Temecula Buyers and Temecula Investors:  ”How is the housing market doing in Temecula?”  Let’s look at some numbers:

Temecula Home Sales for March, 2012:

Total homes sold:  189

Avg. days on market:  84

Avg. sales price:  $300,574 (including Condos/Townhomes)…$312,571 for only Single-Family Homes

These numbers indicate that the real estate market in Temecula is not as anemic as other parts of Riverside County and the State.  The inventory of homes for sale in Temecula is at it’s lowest level in months.  The months supply of inventory back in March, 2011 was 4.5 months.  Today, that number is a staggering 1.5 months!  As you can see, Temecula’s housing market is HOT!!!

Of the 189 homes sold in Temecula in March, 2012, 176 were single family homes and 13 were either condos or town homes.  Do you know the difference between a condo and town home?  If not, check this out:  What are the differences between a Condo and Townhome

To no surprise, Standard Sales topped the Temecula housing market with the most closed units accounting for 77 closed home sales, or 41% of the market share.  Short Sales came in at #2 with 67 closed home sales, or 35% of the Temecula market share.  REOs (AKA Bank Owned or Foreclosures) came in dead last with 44  closed homes sales, or 23% of the market share.  There was 1 probate sale that closed in the month of March.

So what does all of this mean and how is the Temecula Housing Market?  Well, the numbers don’t lie, the months supply of inventory is extremely low.  The lowest it’s been for the past two years!  If you’re thinking of buying is Temcula, you better get off the fence and into the game.  The housing market for buyers is becoming more competitive so you can expect multiple offers on homes.  If you’re thinking of selling your home in Temecula, you should be able to sell your home within three months and you should have multiple offers within the first 30-days.  This is assuming it’s a Standard Sale.  If it’s a Short Sale, you should still expect multiple offers within the first 30-days, but the closing is going to hinge on your banks willingness to cooperate.

This is Ryan Smith signing off until next time…..