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The national residential shadow inventory fell to 1.7 million homes, down from 2.2 million in January 2013.
roger craig April 22, 2014 at 08:57 am
NBR reported on PBS that half the home sales in the US now involve cash purchases. Very few mortgageRead More originations are taking place with a FICO score less than 720. The 'have-nots' are going to remain this way for a very long time....
Sellers may not recoup the full value of home improvement costs.
KMA April 16, 2014 at 11:37 am
Bill- you forgot to tell VWDS that when her listing expires to contact you. And all the news says isRead More inventory is down and prices are up and investors are sitting on the sidelines. So which is it.??
Bill Burchard April 16, 2014 at 12:11 pm
Hi KMA . I have heard the same thing, that "inventory is down." But the numbers don'tRead More reflect that in the Murrieta area. Every day, I post the latest data on Murrieta homes for sale on my website. ( http://www.my3brealty.com/Murrieta-Homes-for-Sale.html ) I include two charts that graph the data over the last two years. The top chart shows the median asking price of homes currently listed for sale. The bottom chart shows the number of homes for sale. Last year at this time, there were about 150 homes for sale at any given time. This year there are over 400. (As of today, there are 425 homes for sale.) So the number of homes for sale in Murrieta has nearly tripled since last year. Median asking prices are definitely up from two years ago, though asking prices are down significantly from their peak a year ago. I think it is true that investors are sitting on the sidelines. But I believe that's mainly due to so many of them snapping up properties a couple of years ago. Now they are starting to sell. (Which has likely influenced the sharp increase in inventories over this past year.)
Bill Burchard April 16, 2014 at 01:31 pm
Good afternoon, Mad Arsenal. Thank you for sharing the article. It's my observation in Murrieta thatRead More over the past couple of years, about one-third of homes were purchased by cash buyers. That is a lot. It's my sense that more recently the number of cash buyers has fallen significantly. (I have not researched it. It's just my gut feeling.) What I have experienced the past few months is a surprising number of renters asking for help finding a new rental. They explain that they are great tenants, but that they are forced to find a new home because their landlords decided to sell. The good news about the rise in home values is that many former underwater homes now have equity, thus allowing owners to finally sell.
Statistics from 2013 sales data indicates the key reasons a particular offer-to-purchase was chosen over all others.
Alek J Hidell April 10, 2014 at 09:38 am
when I bought my Bank-owned foreclosure in Central Murrieta in 2011, the first house I liked had 14Read More offers the first day it came on the market. My realtors advised me to offer more than the asking price, but I didn't. Needless to say, I lost out. the next house I offered just $2K below the asking price, and got it. You had to move fast, even with cash purchases. Now you know why the flippers are back in force here, and the renters are being evicted..... Soon Murrieta will be back to pre-Crash numbers...
Bill Burchard April 10, 2014 at 10:18 am
I think your agent gave you good advice, George. It sounds like you quickly learned what to do toRead More win the bid. Given that you purchased the home in 2011, I imagine you have had a sizable increase in equity. Congratulations! I have had quite a few renters contact me about finding a new place to live, explaining that their landlords decided to sell the property. Many homes have increased in value by 20-30 percent, or more. The landlords want to cash in and take a nice profit. Other landlords were underwater until recently and were waiting for prices to increase to the point where they could sell without tainting their credit due to a short sale or foreclosure.
Senate Bill 407: Home Improvements Trigger Water Conservation Compliance
James P Hosty April 1, 2014 at 05:15 pm
and of course to ENFORCE this statute the State needs additional tax dollars and more personnel. WeRead More can stop all this nonsense by pushing the State into insolvency and sacking the whole lot of them, rescinding their salaries, reneging on their pensions RETROACTIVELY. This includes the State Supreme Court as well...... In short, an entire overthrow of government as we now see it---merely by withholding our property taxes next year and avoiding as much sales tax as humanly possible. Who's with me?
ChrisG April 2, 2014 at 07:19 am
You can only buy those low flush toilets now. We remodeled a few years ago and switched them out.Read More Happy times double flushing your turds down the drain! Saving water? I don't think so. Also, there are other plumbing problems these low flush toilets cause with plugged sewer lines, etc. Our do-good politicians create more problems than they solve with their narcissistic need to legislate. I never vote for an incumbent. Serve a term or two and go back to work so someone else can serve. Stop the crooked career pols!
Obamacare's 3.8% Real Estate Sales Tax?
james walker klanner March 26, 2014 at 09:02 pm
He is so easy. He made himself into a foolish ass klown with his own words. Actions andRead More accomplishments by him dont exist.
Vic March 26, 2014 at 09:28 pm
Progressive Obama supporter March 26, 2014 at 08:39 PM It's so easy to smoke Steve Newman, RoyRead More Holmgren and Alek out with their multiple personalities. ---------------------------------Yeah, Jeff, cause you're the master of disguise....
KMA March 27, 2014 at 02:38 pm
Hostly- and look what happened to Kleiner when he did his homework- and you want to join him inRead More purgatory.
Murrieta Single Family Home Prices
KMA March 15, 2014 at 11:28 pm
Thank you Bill
KMA March 15, 2014 at 11:29 pm
Alek- no complaints- that's rich. Of course you are not- living off Hancock/
Bill Burchard March 16, 2014 at 06:38 am
You are welcome, KMA!
Murrieta Single Family Home Prices
KMA March 10, 2014 at 04:26 pm
ChrisG- oh we can only wish- like the libtard he is.
KMA March 10, 2014 at 04:28 pm
Alek- Patsy-Marty- Newman is doing just fine- unlike you and your fairy men.
Alek J Hidell March 10, 2014 at 08:03 pm