Real Estate Activity High - For Holidays

Real Estate sales in November and December are typically level, but so far this November has seen good activity in the market.

Housing prices are stabilizing in the valley and in some areas have seen an increase. Menifee Real Estate, when compared to Temecula Real Estate, has historically lagged when prices have increased, but this holiday season we are expecting to see an increase in sales because of the record low prices. We are on Temecula's tail!
With the new addition of Best Buy and the surrounding "blue chip" businesses, Menifee has become a sought after little town. Realtors agree that Menifee is becoming an ideal place to live and an even better place to invest.

Skylar Lewis
Menifee Real Estate

Happy Veteran's Day!!

I will get my update for Menifee up next week. But today is Veteran's day and I want to wish all the military familes out there a huge Thank You!

As a real estate guy, I get to see more of what you deal with than most. I have helped families move when a spouse is on rotation, talked with clients over skype when they are half a world away, and watched how challenging keeping a family together can be.

I also see how often you are transferred to North Carolina, Virginia, overseas, Hawaii, Arizona, etc after you are settled in here and the kids are enrolled. You put up with A LOT of things most people never think about.

So thank you very much. I am very blessed to work with many military over the last decade and it is inspiring to see great people and families at work.

Have a great Veteran's day!


Stefan West
Temecula Real Estate
Menifee Real Estate

Menifee Real Estate and Trends October 2011 Report

I scream BOOOOO to you! It is late in the month of October and Halloween is in less than a week! Kids are fired up for sweets and costumes, and adults are thinking - why is Halloween on a Monday?! The holidays are coming up and we all scratch our head and start pondering, where did 2011 go?

Well I don't have the answer to that, however I can answer where Menifee CA real estate went in the month of October! As we get into the holiday months, we will normally see a gradual slow down commence in October. I know we saw that take place in Temecula when I wrote my October 2011 Temecula Real Estate Trend Report. That showed an 18% drop in home closes month over month! Please bear in mind that although this is my October report, the sales amounts trail by a month and are for September closes while the actives are for October. Having said that, here are the numbers:

Menifee Real Estate Properties Sold and Active Listings Update - October 2011

* Total # of Active Properties Listed - 300
* Average Active List Price - $ 218,344
* Menifee CA Properties Sold in September - 95
* Avg. September Sales Price - $ 206,602
* Avg. Sold Days on Market - 73

It appears like Menifee is still keeping a pretty steady tempo as we come into Autumn. There has been very small modifications in the Menifee real estate market. Total active listings have increased by only 14 homes from the previous month, a 5.6% increase. But the average asking price is almost lifeless even with last month. You are able to see last month's report here - Menifee CA Real Estate Report 9/2011.

Also, compared to the Temecula Valley real estate market, Menifee real estate actually just slightly fell in property closes from 99 in August to 95 in September which is a 4% decline. In terms of sold pricing we dropped only 1.36%. That is fairly marginal and Days on Market variable literally progressed to 73 days from 80 days! That is really fascinating and exhibits that these cities are not complete mirror images one another.

In my business I have witnessed a lot more purchasers hunting for Menifee real estate recently. The price levels are really good and numerous renters are feeling their best bang for the buck in Menifee. So overall, we lost only a number of closes but have remained steady. I would expect these numbers to decrease as we head into the holiday season. That is a fairly consistent trend. Although, with rates so uncommonly low, it is pushing more first time buyers into the real estate market.

On another note, yesterday President Obama extended the Making Home Affordable structure and I predict that reducing short sales a little bit as MANY more individuals who are upside down more than 125% will be able to get refinancing if their loans are with Freddie Mac or Fannie Mae. That ought to influence the market as early as December 2011 however most banks will not transition until January.

I hope this Menifee Real Estate update finds you and your family healthy and looking forward to a great holiday season!