Real Estate

  • The Houses of August

    While some (mainly progressive) economists were cautioning that the economy would fall off a cliff in August amidst a new CV-19 surge, the end of/or reduction in unemployment benefits, and continued stodgy recovery, recent jobs and stock market reports point to a somewhat more robust reality. Let’s start with a brief nod to the employment […]

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  • Strongest Sellers’ Market in Years!

    2020 just keeps getting weirder and weirder. As if the pandemic and all that entails isn’t enough, we’ve introduced Murder Hornets, Rabid Bats, Chinese Mystery Seeds, and radioactive Chernobyl ants to the mix, among other oddities. And don’t even get me started on the dysfunction that defines Washington D.C. and Sacramento right now, plus factoring […]

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  • Is this the V we’re looking for?

    While the media’s grim reapers continue to predict catastrophe from the CV-19 pandemic, it’s hard to look at our current housing numbers with anything but optimism. I suppose this could be tempered going forward as the Governor selectively shuts down business that survived his first round of closures and had successfully reopened, but for now […]

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  • What’s Next?

    Remember the good old days when the only thing we had to worry about was a deadly pandemic? Seems like only yesterday. Oh wait… Yet with exceptions made for protesters and looters, our households are still on modified lockdown due to CV-19 that is continuing to wreak havoc with our economy, with our local business […]

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  • Interesting Times We’re Living In

    Considering the circumstances, our April housing market came in about as anticipated. Recall that March was a surprisingly robust month in spite of the rolling shut-down of the economy mid-month. Yet pending sales, that precursor of future closings, was off its historic norm by 27% coming into April. The fact that regional sales were only […]

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  • Aaaand, They’re Off!

    So, ignoring the media crisis du jour, how did 2020 actually start in Southwest California? About as expected – no surprises, no rush, no crash. January is always a slow month and this year was no different. After a decent December that capped off a pretty good 2019 season, pending sales were down coming into […]

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  • That’s a Wrap

    Personally, I think everybody should be taking a deep breath because 2020’s going to be quite a year. We’ve got a national election coming up that will be among the most divisive we’ve seen – and that’s saying a lot. We’ve got a lot of local elections that will set up our city, county and […]

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  • No Record Pace, But Still A Solid Year

    Median price also continued it’s upward trend in November with all cities posting higher numbers than a year ago. Setting aside the anomalous 26% spike in Canyon Lake (that’s what happens when your sales drop but over 1/3 of your sales are higher end homes), regional median price climbed 2% month-over-month, ($391,433 /$399,555), 7% over […]

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  • Smooth Sailing

    That’s pretty good, eh? While we won’t finish the year ahead of 2017 due to a slower Q1, we will certainly turn in a very respectable sales volume year. Even more special when you consider the mix of new homes that have come on the market in all of our cities since 2017. If our […]

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  • Uncertainty

    Is that uncertainty warranted? Well, it depends on who you talk to. There are experts who predict a recession starting sometime in 2020. There are other experts who predict that the current underlying economy is sound and sustainable for the foreseeable future. As usual, I agree with the experts. It’s the whims of human nature […]

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  • Over a Decade in the Making!

    In August the average price of a Temecula home was $591,851 and their median price hiked north of ½ million as well to $510,000. Unless the market totally tanks over the next few months, Temecula will finish the year at a new record pace with an annual average price in excess of the $543,545 also […]

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  • A HUGE Month!!

    So July was good. So good, in fact, that we pulled within 40 homes of last year-to-date selling 6,337 homes through July compared to 6,377 in 2018. That’s still a bit off the 7,008 pace set in 2017, but not bad. Here’s hoping we can keep that momentum going. But lagging sales isn’t just a […]

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  • Slow and Steady?

    With half of 2019 behind us, what can we derive from the year so far and what does it portend for the remainder of the year? Well, sales continue at a slow pace. June sales fell 6% month-over-month (1,131/1,059) and 4% behind last June (1,087). Prices were virtually flat from May ($388,974/$388,642) but retained a […]

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  • Picking Up?

    As you might infer from that, the slowdown in sales has not just impacted our local market but has been felt across the state and the nation as economists struggle to explain why. As has been consistently pointed out, the underlying fundamentals of the economy continue to be strong with unemployment at historic lows, wages […]

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  • A Simmer, Not a Boil.

    Last week at our Legislative Day meetings in Sacramento, Realtors® heard from Governor Newsom in a far ranging address on the positives and negatives of this state we call home (for now). We were encouraged that housing is one of his priorities as he seems to ‘get it’ that past policies have damaged the industry, […]

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  • The Effinger Group Expands Real Estate Operations into the Temecula Valley

    The Effinger Group headed by longtime industry veteran Kirk Effinger has expanded their real estate-oriented operations into the greater Temecula Valley. As part of Windermere Homes & Estates, The Effinger Group brings industry expertise and the strength of a regional brand that has 17 offices and over 800 agents throughout much of Southern California. “We […]

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  • Off to a Slow Start

    Poppies! I blame the poppies for the slow housing start this year. People couldn’t get to the region to buy houses because of the poppypalooza or the apoppycalypse or whatever you call it. But it truly was spectacular and another reminder why, if you’re going to live in California, this isn’t a bad place to […]

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  • Send in the Canary!

    Our local housing market experienced a little bounce in February. That’s somewhat unusual but not unprecedented in that February sales are generally a little softer than January, plus it’s a short month and all. But as forecast by pending sales coming into the month, sales in February were up about 12% over our dismal January, […]

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  • Nothing to Brag About.

    As I pointed out on the demand chart, pending sales are a precursor of future closed sales and last month there were only 560 pending sales. January pending sales have increased to 721 indicating that February sales are rebounding. Historically, that’s a little early to see a volume increase like this and may be positive […]

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  • Size Up or Size Down with a 1031 Exchange

    If you own two or more single-family rentals, maybe you’re thinking its time to trade up to apartment ownership. Apartment ownership can be more profitable than single-family rentals, especially when you put a good management company in place. Whether you’re considering selling a single-family rental or an apartment building, there are capital gains tax considerations. […]

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  • A Matter of Perception

    But we were reminded last month by National Association of Realtors® Chief Economist Dr. Lawrence Yun that our perception of current events is clouded by how good or bad our memory is. For example, home sales locally and across the country will be down this year compared to last. Nationally they’re expected to drop about […]

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  • Reasons to Buy or Sell Today!

    I’m Scott Chappell and everybody knows that this is the slow time of the year to buy or sell real estate. Residential home values have gone up an average of 6% locally this year. The smart guys that do the forecasting agree that 2019 will be another good real estate year for buyers and sellers […]

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