Real Estate

  • Welcome to Another Edition of the REALTOR® Report!

    This month’s keywords are Recession, Inflation, and Interest Rates. You can’t turn on the news or open a newspaper without hearing or reading these words in a headline. So what exactly does that mean for our housing market, and more specifically, the housing market in Southwest Riverside County?  Economically speaking, we have entered our 2nd […]

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  • Welcome to Another Edition of the REALTOR® Report!

    Today is also Election Day, and I hope you exercised your right to vote. As I always say, you can’t complain if you don’t participate! Before we jump into the numbers, last month, I wrote that our National Chief Economist was optimistic that we were not headed into a recession mainly due to the strength […]

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  • Welcome to Another Edition of the REALTOR Report!

    I have been anxiously waiting to see the numbers for April to see the impact of the increase in mortgage rates. While there was a slight dip in closed sales, and some cities saw a small decrease in transaction value, the region as a whole had another solid month.   The median home price in Southwest […]

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  • Welcome to Another Edition of the REALTOR® Report

    As I ran the numbers for this month’s report, all I could think was WOW; March was a busy month! You’ll see the details on the following slides, but I will highlight that the transaction value of sales in our region increased by over $220 million from the previous month! That’s the largest increase since […]

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  • Welcome to Another Edition of the REALTOR® Report! We’re just over 60 days into the new year, things are still moving quickly, and the market is still red hot!

    Our housing numbers continue to be strong. I want to highlight a few things. First, while you may see some decreases month over month in the number of units sold, median prices continue to increase across the region. This might be attributed to homes that have sold above $1,000,000 – 2 in Canyon Lake, 2 […]

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  • Is the House Party Over?

    A recent article in the Wall Street Journal stated – “The House Party May Be Winding Down”. Their concern? That rising interest rates coupled with continuing double digit price appreciation could stall a housing market that has been charging at a bullish rate for the past decade, long exceeding previous run-ups. In fact-mortgage interest rates, […]

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  • Welcome to Another Edition of the REALTOR Report!

    2022 started off with a bang, and we’ve already been busy! Final maps of the new Federal and State Districts are out, and Southwest Riverside County has a lot to process. Many of the new lines have shifted across cities, and we even have an entirely new State Assembly District. While these maps don’t officially […]

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  • Co-Ownership Agreement–Unmarried Couples Buying Real Property Together Without Getting Burned

    There has been a rise in couples co-habitating and purchasing real property together before getting married. While California is a community property state, California Law does not recognize common law marriages, and unmarried individuals are generally not entitled to support following a breakup. I have had countless consultations with individuals who purchased real property with […]

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  • Welcome to Another Edition of the REALTOR® Report!

    As we near the end of 2021, housing market trends for our area continue in the same direction they have for the past few months. As I mentioned last month, we have a little over 2,000 units currently under construction and another 11,000+ in the pipeline. Those numbers, factored with the updated Housing Element numbers […]

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  • Welcome to Another Edition of the REALTOR® Report!

    This month’s report contains some new information that I have been working on and am excited to share with all of you.  It’s no secret that housing inventory is extremely low and is a contributing factor to a robust seller’s market and a competitive buyer’s market.  This report is based on resale homes, and our […]

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  • Eviction Moratoriums – Who Benefitted?

    Barring any further legal, illegal, or extra-legal extensions, the moratoriums on eviction of non-paying renters have expired – California’s on September 30, the CDC on October 3rd. The CDC extension was actually struck down by the Supreme Court back in August when it agreed with plaintiffs that the federal agency did not have the power […]

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  • Welcome to Another Edition of the REALTOR Report!

    I have made some formatting changes and added an additional city to the report. Other than the graphs at the end (which I try to keep more geographical), all city data is now listed alphabetically. I have added Winchester to the report, which includes the French Valley area (Zip Code 92596) and will hopefully help […]

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  • WOTUS Revisited

    Well, here we go again. Long-time readers will recall my rants over the past decade as Realtors fought against the so-called WOTUS rule, the Waters of the United States. This was an Obama era expansion of the 1972 Clean Water Act that sought to redefine what constituted a ‘navigable waterway’ to include not only bodies […]

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  • A Changing Tide?

    As things begin to return to normal, we are seeing some changes in the housing market as well. It’s still competitive and a strong seller’s market, but we are noticing some adjustments worth highlighting. For the second straight month, inventory has increased month over month, yet is still down double digits from last year. Prices […]

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  • The Search for Affordable Housing – Part 2

    So last month we talked about the critical shortage of housing in California, particularly affordable/workforce housing, which is contributing to the significant ramp up in year-over-year prices for existing home. We also explored the escalating cost of new home construction predicated on lumber prices and shortage, at least partially a self-inflicted wound in California’s case. […]

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  • Welcome to the REALTOR® Report 2.0

    My name is Adam A. Ruiz and I have recently taken over the duties of this report. After decades of services to the community and the real estate industry, Gene Wunderlich has retired. He leaves behind a legacy that won’t be forgotten, and big shoes to fill, but I will do my best and am […]

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  • The Search for Affordable Housing

    In case you’re not aware, our housing market is red hot right now with prices rising year-over-year by double digit increments as too many buyers chase too few homes. This is not a locally isolated occurrence as it also impacts most of the state and much of the rest of the country as well. There […]

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  • Record Lows = Record Highs

    In this topsy-turvey world we’ve been living the past year, we’ve seen our economy and our lives tossed into turmoil. Record low unemployment rocketed to near-record peaks in a matter of weeks. Record GDP performance was followed by one of the steepest quarterly declines in history. A President who presided over both extremes was booted […]

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  • The Definition of Insanity

    Let’s start with congratulations to all the recent election victors. Thanks as well to those who stepped up, gave it a run and came up short. Thanks for volunteering to be of service to our communities. A tip of the hat to all us survivors of another political season as well. There’s still a lot […]

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  • Making Up Lost Ground

    Our 2020 housing market continue to improve with September posting another increase not only a month-over-month increase of 9% (1,068 / 1,169) but a whopping 19% increase over last September (944). That brings us to within a rounding error of year-to-date sales volume just 21 units less than 2019 (8,357 / 8,337). Incredible given the […]

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  • 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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