Beautiful Menifee Home for Sale

ONE OF THE LOWEST TAX AREAS IN MENIFEE... CLOSE TO SOUTH SHORE ELEMENTARY SCHOOL. THE HOUSE IS PRICED AT 377,000. This Lovely 2007 Two Story Home Is On A Quiet Cul-De-Sac In The Heart Of One Of Menifee’s Nicest Communities - HIDDEN MEADOWS! This Home Is Spacious And Has 2,942 Square Feet Of Living Space. The First Floor Features: Custom Painted Formal Living Room And Dining Area With Office/Study Room/Game Room. A Very Spacious Family Room With Fireplace. The Large Kitchen Includes An Island With Room For Bar Stools, Has Granite Counter Tops, Lots Of Counter Space And Cabinets, Dining Area, A Large Pantry, Powder Room With Closet And Under Stair Storage. The Second Floor Features: Custom Painted Master Bedroom With Master Bathroom Tub And A Stand Alone Shower With Walk-In Closet And Dual Sinks. The Two Upstairs Bathroom Has A Tub/Shower Combo Plus 4 Nice Size Bedrooms. The Laundry Room Located On Upper Level Is Spacious And Has A Counter To Fold Laundry. The 2 Car Garage And 3rd Car Garage Or Workshop Are Attached To The Home And Have Access From The Kitchen And Office. The Backyard Is Long And Would Enjoy Many Family And Friend Get Togethers.

For more information call Colleen Moorhouse at 951.764.4595 

or email her at CMoreHouses@yahoo.com

LCL Realty: Another 8.3 Million Underwater Homeowners on Track to Resurface Before 2015

While 10.7 million residential homeowners nationwide owe at least 25 percent or more on their mortgages than their properties are worth, another 8.3 million homeowners are either slightly underwater or slightly above water, putting them on track to have enough equity to sell sometime in the next 15 months--without resorting to a short sale.

The 8.3 million include homeowners with a loan to value (LTV) ratio from 90-110 percent, meaning they have between 10 percent positive equity and 10 percent negative equity. These homeowners represented 18 percent or all U.S. homeowners with a mortgaged as of the beginning of September.

The 10.7 million residential properties with an LTV ratio of at least 125 percent represented 23 percent of U.S. residential properties with a mortgage--down from 11.3 million deeply underwater properties representing 26 percent of all residential properties with a mortgage in May 2013 and down from 12.5 million deeply underwater properties representing 28 percent of all residential properties with a mortgage in September 2012.

"Steadily rising home prices are lifting all boats in this housing market and should spill over into more inventory of homes for sale in the coming months," saying Daren Blomquist, vice president at Reality Trac. "Homeowners who already  have ample equity are quickly building on that equity, while the 8.3 million homeowners on the fence with little or no equity are on track to regain enough equity to sell before 2015 if home prices continue to increase at the rate or 1.33 percent per month that they have since bottoming out in March 2012."

In-house Loan Services

Many major real estate companies offer their own mortgage affiliate, however buyers should not feel pressured to use the in-house loan services.

• In-house loan services are not new, but they have become important since the market declined. When the lending environment started to become restrictive, the need to have a mortgage broker in house who could give preapprovals that actually worked became important to real estate brokers.

• Relationships between real estate brokers and in-home mortgage brokers can benefit buyers by providing access to the loan officer or mortgage broker. This may reduce processing time, and possibly fees.

• While using an in-house mortgage service may be beneficial and help increase the process, buyers have the right to select any lender they want. Federal law prohibits agents from steering clients to a particular mortgage company or lender, and from accepting payment for referrals.

• It’s important that borrowers do their homework, check all fees, and request the Good Faith Estimate, regardless of which lender they choose.
  
  
  
  

Why Sight Unseen is Trending in Today's Market

The lack of available homes for sale is creating a tough market, and in some cases home buyers are making offers on homes they haven't even seen!

In Short:

• Buying homes sight unseen is a small but growing trend in some areas,even in the rental market. This is brought on by the advanced technology and competative market.

• Buyers might make offers without seeing a house for several reasons: They live elsewhere or  for business and even for personal reasons. The buyers may have had scheduling conflicts and couldn’t visit before bids were due or they’re investors are use to buying just based on the characteristics of the property.

• Even though some buyers are making offers without seeing the properties, they’re not going in blind. With the extensive photos and video tours, plenty of websites offer the buyers opportunities to learn about the neighborhoods, schools and research all comparable sales.

•  Those who bid sight unseen have the chance to tour the house during escrow and can still cancel the deal. Courthouse auctions that are in the final stage of the foreclosure process do not offer a chance to see properties in advance, nor is there an inspection period.
  

  
  

Spring Home Buying Starts Early!

     Realtor.com has recently released its data on the U.S. Housing Market for February 2013. The National Housing Data (provided below) indicates that current listing inventories increased 1.15 percent, where the median list prices were slightly higher, increasing by $189,900.00. These numbers show that home buyers are getting an early start on the spring season despite the fact inventories recently hit record lows. Lets take a look:

Per Realtor.com the National Data concluded:

• In February, the total number of single-family homes, condos, townhomes and eve co-ops for sale in the U.S. (estimated 1,492,218) increased by 1.15 percent month-over-month. On an annual basis, however, inventory was down by 15.97 percent.
• The national Median list price for single-family homes, condos, townhomes and co-ops (estimated $189,900) increased by 1.01 percent year-over-year and 1.55 percent month-over-month in February. 
• The median age of inventory for sale listing fell to 98 days in February, down 9.26 percent from January and 11.71 percent below the median age one year ago. (February 2012).

Per Realtor.com the Local Data shows:

• Nearly all of the markets with the largest year-over-year declines in their for sale inventories in February were in California, where declines averaged 48 percent. This list includes: Riverside County, Sacramento, Stockton, Oakland, and San Jose, just to name a few. These markets also experienced a dramatic decline in the median age of inventory, falling to an average of 31 days, or 53 percent lower than one year ago. 
• However, on an annual basis, February median list prices were up by 5 percent or more in 51 markets while they were down by more than 5 percent in 11 markets. These markets experiencing a year-over-year list price decline in February (being 39) is significantly below the number of declines observed in January (being 50).

      According to Barbara Caley, broker and part owner of LCL Realty & Property Management "We are entering the the busiest time of the year for home buyers and sellers. Within the last 45 days our listing prices have increased with a significant influx of offers. As the market progresses, you can expect to see the inventory to increase along with higher listing prices as sellers become more satisfied with the market conditions."