Real Estate

  • 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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  • 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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