Featured LCL Rental of the Week: Drake Circle

This beautiful 5 bedroom 3 bathroom 2162 SqFt. cul-de-sac home is located in a great neighborhood up on Bell Mountain. This one story home has an indoor laundry room, 3 car garage and a wonderful backyard. It is close by multiple schools in the Menifee area,  various shopping centers and 215-freeway access.

 For more information about this property please visit our website at www.LCLRealty.com

Featured LCL Menifee Rental of the Week

 29219 Overboard Dr--Heritage Lake Community:

Gorgeous 4 bed 3 bath home nestled in the Heritage Lake Community. Features an open floor plan, with a fabulous modern kitchen perfect for wining and dining. This home also features a cozy loft upstairs with modest sized bedrooms and a full guest bathroom. The master bedroom includes walk-in closets with shelving to spare! Not to mention the master bathroom with its his and her sinks and wrap around mirrors.  This home is a MUST SEE.

For more information on this property please visit our website at www.lclrealty.com.

Menifee Real Estate Update - June 2011

Another gorgeous day in Menifee! This and the fall are truly my favorite time of year. Soon I will be starting my update posts with, "Holy Cow - How to Cook an Egg on Sidewalk!" Ok, I am exaggerating but I truly enjoy showing and selling Menifee real estate when the weather is so fantastic.

I know you aren't reading this because you want to hear about the weather. You want to know what is going on with Menifee Real Estate and how it affects you weather you are buying or selling a Menifee Home. Hopefully, this statisical information can be helpful to you for whichever side of the transaction you may be on.

As I stated in my previous update, I cover specific stats that focus on total active homes on the market, how many sold the month prior, and the price and average time it took. These stats are based on 3+, 2+ bedroom, detached homes priced under $1,000,000. Now on to the data...

Menifee CA Real Estate - June 2011 Update - As of 6/2/11

• Total Active Homes Listed - 278 Homes
  
• Average "Active" List Price - $229,744
  
• Menifee Homes Sold in May - 75 Homes
  
• Average Sold Home Price - $206,186
  
• Average Days on Market - 81 days

Let's start with Menifee home sales for May. When comparing against last month's update, we see that sales went from 82 in April to 75 homes in May. We also see that the active average price point has decreased but only by $645. Also the active market itself has hardly changed with 280 in May to 278 in June.

But we did see something interesting - it could be a fluke (only consistency will tell). The average price of Menifee real estate sold nudged upward from $201k to $206k. It is a minor increase but we also see that the days on market shrank as well from 93 days in April to 81 days in May. Those are both interesting demand side indicators to keep an eye on.

Things will pick up during the Spring and Summer of course. Menifee is always a pretty active market when compared domestically and things are heating up (pun intended) as schools are letting out and people are making the annual Summer move plans. I look foward to a busy summer and will keep posting market stats so you can see how we are doing!

And to all our Military personnel - I hope you men and woman had a great Memorial Day weekend. My family, my clients, and all of us in Menifee and the surrounding communities appreciate and applaud your duty on our behalf! Stay safe and God Bless!

Sincerely,

Stefan West, Broker of West Realty
Temecula Real Estate
Menifee Real Estate

Menifee CA Real Estate Update - May 2011

What a fantastic day!

Today Menifee featured a 76 degree and no cloud stunner! I hope you enjoyed it as much as I did - umm sitting at my computer! Enough chit chat, here's the scoop - starting this month I will plan to update this blog montly with information regarding the Menifee real estate in the following format:

•The number of Menifee Homes currently listed on the market
•The previous month's number of Menifee homes sold
•The average days on market to sell the homes
•Both the current average list price and the average closing

My overall goal is to provide consistent Menifee real estate update for Menifee owners, potential home buyers, and future Menifee citizens.

This data will give you a solid trend pattern of the Menifee Real Estate market as the year unfolds. I will also include additional information about Menifee so you can learn something new each time you visit. As an example, did you know that South Riverside county led appreciation rates nationwide from 2002-2007 at an average of almost 30% per year?! That may be a large contributor to our real estate market losing so much value of course!

There is your pinch of Menifee community information for this post. Ok, one more - did you know Menifee has grown up to a population of 77,705 as of 2010 and is roughly 416 miles from California's state capital? Ok, enough fun, I know you want to know the numbers :).

As a reporting baseline, these stats are based only on single family homes in Menifee, priced from 0-$1,000,000. They do not include townhouses or condos, etc. They also focus on 3 bedroom homes as they represent the fundamental definition of a single family residence.

Here are the numbers for my May 2011 Menifee Real Estate Update:

•There are 280 Menifee homes currently listed
•The average list price is $230,389
•In April, 82 homes in Menifee were sold at an average price of $201,889
•And the closed homes were on the market for approximately 93 days.

The average days on market is deceptive. This is due to the fact that many active homes are short sales that already have offers on them. It messes up the integrity of the number a little bit. The average time on market for a sharp, well-priced standard or Menifee bank owned property is MUCH shorter. Usually, they are left as "active" until banks agree to a submitted offer. In fact, I will be showing quite a few short sales to a great couple on Friday and when I call to check status I find they often have multiple offers already.

There it is, your Menifee real estate report for May 2011. If you are considering moving to the great Menifee community, please do not hesitate to contact me or my team. We love to welcome new people to our home and always strive to exceed your highest expectations!

Sincerely,

Stefan West, Broker of West Realty

Specializing in Menifee Homes and Menifee CA Real Estate