Spring Market Conditions

I can describe the real estate market in the Southwest Riverside County Area (Murrieta, Temecula, Menifee) in one word - BUSY.

There have not been as many foreclosures entering the market. This has created a market in which the majority of the foreclosures on the market are receiving multiple offers, and often the properties are selling for higher than list price.

I have several clients whom have written multiple offers (full price) and have still been outbid during the process.

There is a light at the end of the tunnel. I have heard from several sources that a larger amount of new inventory should be entering the market in June and July. I'm hoping that this will make it a bit easier for buyers to get into these homes.

The big picture is that the market is full of people trying to buy in this low price period. That is a huge indication that the market may be ready to stabilize, if not rebound.

Things are looking up!