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The Murrieta & Temecula Real Estate Market - July 2008

I come across a lot of people that have been watching the news and hearing about the "NATIONAL" market and thinking that every submarket or that our "LOCAL" market is the same.

Check out these numbers:

NATIONAL Market                                          vs.                                  LOCAL Market (Murrieta & Temecula)
*Prices are down about 10% from the peak.                                     *Prices are down about 40% from the peak.
*Home Sales DECREASED by 15% last month                                     *Home Sales have INCREASED by about 190%
compared to June of 2008                                                                    from June 2007 to June 2008. (102 in '07 & 280 in '08 - Murrieta)

*One other interesting number is that Murrieta currently has a total of 581 homes in pending or back up position (on the MLS) out of a total of 1752. ***Over 33% of homes on the market!! Another interesting fact is that 360 of the 581 homes are REO's (or Bank Owned) and only 267 of the remaining active inventory are REO's (or Bank Owned) property.

What does this tell you??? The best deals or homes that are selling are the REO's and the market is no longer dropping like it had been for the last 1-2 years. Now is a great time to buy!

I hope you don't find this information too boring. I'm a Business/Finance major and I love looking at the numbers:)

Here are just a few Bank Owned homes that I've been able to help clients buy in the past month. *The highlighted home are our Bank Owned Properties.

*Beautiful Highly Upgraded Murrieta Pool Home (3200 SF) for $350K that sold in '06 for $680K.
*Nice newer 3700 square foot Temecula Home for $350K that sold for $600K in '05.
*Vail Ranch Temecula Pool Home w/ 4BR/2.5BA for $258K that sold for $435K in '06.
*Temecula Home w/ 2316 square feet (4BR/2.5BA) for $250K that sold for $450K in '05.
*Wildomar Ranch Home w/ Pool/Spa & almost 2 acres for $500K that sold for $760K in '06.

Give me a call if you'd like to have an edge by working with a Bank Owned Specialist. We have the Bank Owned property!!!

Tyson Robinson, E-Pro
Oak Tree Realty Group
Direct: 951.970.5740
Skype: TysonRobinson
Fax: 866.730.1082
Email: Tyson@TysonRobinson.com
Web: www.TysonRobinson.com
REO/Bank Owned Specialist

Search Our Bank Owned Properties at: www.TysonRobinson.com/properties.php

Posted by Tyson Robinson on 07/16/2008 01:23 AM

Comments (1)

murrieta, temecula, homes, real estate, hot market, reos, bank owned homes

This post has been included in California Information Riverside County, CA Information Murrieta, CA Information

1 Comments on The Murrieta & Temecula Real Estate Market - July 2008

Holy smokes! There are some deals to be found in Murietta and Temecula!

07/18/2008 11:28 AM

by Cristal Drake - Fullerton Area Realtor (Re/Max North Orange County)

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What does the graphic say?