Category Archives: Selling Homes

California April 2020 Sales Report

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April 2020 Home Sales and Price Report-taken from car.org 5-26-20
California’s housing market feels full brunt of coronavirus outbreak in April, C.A.R. reports

• Existing, single-family home sales totaled 277,440 in April 2020, down 25.6% from March and down 30.1% from April 2019.

• April’s statewide median home price was $606,410, down 1.0% from March and up 0.6% from April 2019.

• The statewide unsold inventory index jumped to 3.4 months in April from 2.7 months in March and was unchanged from last April.

• The median number of days it took to sell an existing, single-family home fell significantly from a year ago, declining from 21 days in April 2019 to 13 days in April 2020.

• C.A.R.’s sales-to-list price ratio was 100% statewide in April 2020, up from 98.9% in April 2019.

• The average statewide price per square foot for an existing, single-family home was $284 in April 2020 and $289 in April 2019.

• The 30-year, fixed-mortgage interest rate averaged 3.31% in April, down from 4.14% in April 2019, according to Freddie Mac.

Some pockets of the state are not experiencing the pandemic results the same.  And some data will be different based on price range.  This article is an overview of the entire state of California.

Are you wondering how your property may have been impacted and what the current value might be?  Give us a call, email or text if you are in Southwest Riverside County!

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Gary and April Greer (951) 522-0518 or april@teamgreer.com

CAL Dre # 01240571 / 01235358

 

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Just Sold by TeamGreer, Temecula

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Free Trash Pick Up, Temecula

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JUST A REMINDER

City of Temecula Residents are allowed 2 FREE bulky item pick ups, including e-waste each and every year!  Just call CR&R at 1-800-755-8112 to schedule your pick up.

This may come in handy during a move, spring clean up or getting your home ready to sell.  Need more selling tips?  Visit us at http://www.teamgreer.com or drop us a line at april@teamgreer.com and we’ll be glad to help!

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Southern California October 2013 Real Estate

“SOUTHLAND”

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includes Riverside, San Bernardino, San Diego, LA and Orange Counties:

Cash Buyers accounted for 27.5% of October 2013 Southland home sales, compared with 32.8% the year before. They paid a median price of $337,000, up 34.8% from a year earlier. Since 1988 the monthly average for cash buyers is 16.3%.

Absentee buyers (investors) bought 26.5% of Southland homes sold in October 2013. Absentee buyers paid a median price of $316,000, up 30.8% from a year earlier. The monthly average for absentee buyers since 2000 is 18.4%.

All lenders combined provided $5.7 billion in mortgage money to Southern California home buyers in October 2013. Home buyers in October put $4.3 billion of their own money on the table in the form of a down payment or as an outright cash purchase.

Foreclosure re-sales (properties foreclosed on in the prior 12 months) made up 6.3% of the Southland re-sale market in October 2013, the lowest level since it was 5.5% in May of 2007. That was down from 16.3% in October 2012. Foreclosure re-sales peaked at 56.7% in February 2009.

Short sales made up an estimated 12.9% of Southland re-sales in October 2013. That was down from 27.2% in October 2012.

The typical monthly payment that a Southland buyer committed themselves to paying in October 2013 was $1,499.00, up from $1,115.00 a year earlier. Adjusted for inflation, last month’s typical monthly payments are 48.8% below the current cycle peak of July 2007.

*Median Price=half more/half less. * All information deemed reliable but not guaranteed. For questions or financial, tax or estate planning, we suggest you contact an attorney or certified public accountant. Data taken from dqnews.com 11-12-13

Curious what this all means for your your home in Southwest Riverside County…what we refer to as the Temecula Valley? Reach out to us however you feel comfortable and we can give you an idea of what your home is worth by providing you with details on the sales around you that have occurred most recently.

Gary and April Greer at 951-522-0518 or email us at april@teamgreer.com
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Southern California Sale Update

SOUTHLAND MEDIAN SALES PRICES CONTINUE TO BE UP SHARPLY…MONTH TO MONTH-YEAR OVER YEAR.

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(exert from dqnews.com 9/12/13)
*MEDIAN PRICE AUG 2012 VS AUG 2013
Riverside County                                  + 26.20% ($265,000)

San Bernardino County                        +25.10% ($210,250)

San Diego County                                  +20.20% ($415,000)

Los Angeles County                               +28.10% ($429,000)

Orange County                                       +19.90% ($560,000)

Cash Buyers accounted for 27.6% of August 2013 Southland home sales, compared with 32.3% the year before. They paid a median price of $325,000, up 31% from a year earlier. Since 1988 the monthly average for cash buyers is 16.2%.

Absentee buyers (investors) bought 26.3% of Southland homes sold in August 2013. Absentee buyers paid a median price of $310,000, up 31.4% from a year earlier. The monthly average for absentee buyers since 2000 is 18.3%.

All lenders combined provided $6.36 billion in mortgage money to Southern California home buyers in August 2013, up from $5.45 billion in August 2012.

Foreclosure re-sales (properties foreclosed on in the prior 12 months) made up 7.1% of the Southland resale market in August 2013, the lowest level since it was 5.5% in June of 2007. That was down from 19.2% in August 2012. Foreclosure re-sales peaked at 56.7% in February 2009.

Short sales made up an estimated 13.6% of Southland re-sales in August 2013. That was down from 26.6% in August 2012.

The typical monthly payment that a Southland buyer committed themselves to paying in August 2013 was $1,545.00, up from $1,124.00 a year earlier. Adjusted for inflation, last month’s typical monthly payments are 47.1% below the current cycle peak of July 2007.

*Median Price=half more/half less. * All information deemed reliable but not guaranteed. For questions or financial, tax or estate planning, we suggest you contact an attorney or certified public accountant.

Team_Greer-comAre you considering investing in real estate in our market area?  Let us know how we can help!

Gary and April Greer team4greer@gmail.com or (951) 522-0518

Temecula Valley, Is It Time To Sell?

IS IT TIME TO SELL?

The real estate market in the Temecula Valley is showing more than just signs of recovery. More and more equity sellers are putting their homes on the market and selling their homes in a short period of time and at a higher price than we have seen in years. Foreclosure sales are still relevent but not in the record numbers that the media has given hype over. Short sale listings are scarce. Mortgage rates are ridiculously low. Buyers are everywhere and Realtors (including ourselves) are pounding the pavement looking for something to sell them!

Is it time for you to sell?

We can provide a professional opinion on potential value for your home to help you make that decision. We can be reached at 951-522-0518 April or 951-522-6308 Gary. Our email address is team4greer@gmail.com

The graph below is a snapshot of California in general. Keep in mind that some parts of California (Temecula included) tend to outpace others.

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5 Things to Avoid When Showing Your Home

We should probably start with what TO DO when showing your home but seriously knowing what NOT TO DO may be just as important.  Keep in mind that these are general tips that have been proven over and over by experience.  They don’t apply to every situation…but why take that chance?

Our Top 5 Things NOT to do

  1. Overdue it with candles, plug-ins and scented sprays  Some people are very sensitive and certain scents may cause allergic reactions or just simply discomfort.  Research shows a light vanilla scent is most universally safe.
  2. Hose down entryways and patios off the house right before showings or open houses  It may cause slipping or mess and it will discourage most buyers from wanting to step onto the back patio if it is wet.
  3. Close or lock any interior doors  Interior doors should be left open to let light travel into the dark interior spaces of the house and buyers are very uncomfortable about opening doors.
  4. Be home during showings or open houses  Take a walk or drive around if you have to.  We can’t express to you enough how uncomfortable buyers are if you are there.  They will spend no time in the home, nor will they be able to discuss any objections or ideas.  This is crucial conversation that needs to be had while in the home.  There is additional concern on the Buyer drawing you into potential conversations that you do not want to have.
  5. Leave out mail, bills or small valuables, jewelry and trinkets  Unfortunately we have to worry about this.  Mail, bills and anything that may have identifying or sensitive information needs to be out of sight for identity theft issues.  Also we prefer that any palm size valuables be put away during the home selling process.

If you are planning to sell a home in Temecula, Murrieta, Menifee, Wildomar or Winchester…we make a great partner!  Call us for more information                     at 951-522-0518 or teamgreer@C21wright.com

Open House Starlight Ridge, Temecula $249,900

Come visit us at our open house, Saturday May 21, 2011 and again on

Saturday May 28th from 1:00pm to 4:00pm at

43086 Agena Street in Temecula, CA 92592

  • Great Condition with Fresh Paint
  • 3 bedroom, 2 Bath
  • Approximately 1660 Sq.Ft.
  • Over 15,000 Sq.Ft. Lot
  • Low Taxes, Low HOA
  • Includes Washer, Dryer and Refrigerator
  • Includes One-Year Home Warranty

 

Don’t forget to enter to win $100. Home Depot Gift Card!

Open House, Temecula Wine Country

Visit us this Saturday, March 19, 2011 @ 36750 Avenida Verde, Temecula, CA We’ll be here from approximately 2-5pm relaxing in this gorgeous custom home with breathtaking views of the surrounding mountains, hills and valley. This is a completely fenced 5+/- acres with privacy gates on all paved roads close to town. This single story home is highly upgraded with 3 bedrooms, 2.5 baths PLUS a detached casita.  Stop by and take a peak!

             (951) 522-6308 / (951) 522-0518

Who Might Qualify For HAFA?

 The Home Affordable Foreclosure Alternatives (HAFA) Program is a government sponsored program that allows borrowers (homeowners) that are in financial trouble to avoid foreclosure either through a short sale or a deed in lieu of foreclosure. The program is designed to be implemented either after the HAMP loan modification has failed or (as recently amended) is in process as an option to sale. There are different guidelines to the program dependant on whether or not your loan is a Fannie Mae/Freddie Mac or a non government sponsored enterprise (GSE). The combination of these holders equates to more than 90% of the home loans out now so it is a program that should continue to grow in success as servicers and real estate professionals embrace and help implement it for their clients. The program not only offers up to $3,000 in relocation funds to the borrowers on a successful closing but also provides financial incentives to the servicers and first lien investors for their cooperation.

Overview of the basic guidelines for eligibility is as follows:

  • The property must be your principle residence. Property can be vacant or rented up to 12 months prior to the Short Sale Addendum(SSA), as long as you can prove that it was your primary residence and that you have not purchased a 1-4 unit family property in those 12 months.
  • The mortgage loan is a first lien originated on or before January 1, 2009.
  • The mortgage is delinquent or default is reasonably foreseeable.
  • The current unpaid principle balance is $729,750 or less. (Higher amounts apply to 2-4 unit properties).
  • Borrower must be able to sign a Hardship Affidavit (or in some cases write a Hardship Letter explaining the circumstances of financial distress).
  • Your lender has agreed to be a part of the HAFA/HAMP program.
  • You have to be able to provide clear and marketable title.
  • You have to sign an “arms length transaction” affidavit.

    Investors are allowed to implement their own standards in addition to these so it is impossible to detail every possible scenario.

 Overview of the basic incentives of the program is as follows:

  • An option to foreclosure becoming a part of your permanent history.
  • Uses a standard process, documents and timeframes.
  • Servicer must reply to an executed contract within 30 days.
  • Provides financial incentives of up to $3,000 for your relocation.
  • Requires you to be fully released from future liability for the first mortgage debt and if a subordinate lien holder receives a payment from the first lien holder to enable the transaction, that debt as well. (Forgiven debt could have tax and credit rating impact…you are advised to seek financial and tax advice from a professional.)

So in a nutshell it appears to be a great program that the majority of homeowners facing financial difficulty will at the very least need to be considered for. Please consult with a professional Realtor in your area about your circumstances and the current value of your home for information detailed to your situation. You will be advised to seek legal advice since a short sale is not always in the best interest of every homeowner. If you live in Temecula, Murrieta, Wildomar, Lake Elsinore, Menifee or Winchester that professional Realtor is us! We’d love to talk with you about your situation and see how we can help. April (951) 522-0518 or Gary (951) 522-6308 or email us at teamgreer@tarbell.com

Tarbell Realtors is not associated with the government and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.