Menifee, CA

The year of 2012 has finally arrived. With the new year comes new year’s resolutions and new beginnings. I hope all of you started out the year 2012 safe and healthy, ready to take on the new year. I myself have decided to get an early jump on my market reports for 2012. As usual, my market report is based on single family homes, 3+ bedrooms, 2+ baths, and detached. Let us see how Menifee did this new year:

• Total Number Of Actives Listed On Market in January: 263
• Average Menifee Home Listed Price: $ 223,935
• Number of Menifee Properties Sold in December: 75
• Average Menifee Sold Property Price: $209,054
• Average Days On Market Prior To Sale in December: 90

Hmmmmmm, so there have been a couple significant changes between January’s Menifee market advisory and December’s Menifee market analysis. The first item that grabbed my attention was the difference in the number of homes sold month to month. November’s Menifee properties sold was 58, a fall from October’s 68 homes sold. So, the growth from 58 properties sold in November to 75 properties sold in December is a substantial jump. In fact, it is a 22.66% increase. That is a fairly important difference. People were doing more than just looking inmalls this past December.

Now, after seeing the number of homes sold in Menifee, why don't we look at the average price at which these properties sold at. November’s Menifee market report showed that the average sold price was $225,949 while December’s average sold price was $209,054. That is a 7.47% reduction from November to December. However, if we look at October's market analysis, the sold price was $209,566. That explains that this reduction isn’t ground breaking. It looks like a normal fluctuation from month to month, especially considering the significant jump in number of Menifee properties sold.

I hope my Menifee real estate market statistics and projections help you with your home buying needs. If you have any other questions, don’t be afraid to send me an email. I hope you and your family had a great new years and I’m looking forward to filling your market report needs this year.

Stefan West

Jane Grant is a licensed Real Estate Broker in California, DRE 01109492

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What a great month for the city of Menifee!

The climate is fantastic, the purchasing crazy, and the holiday spirit is in full effect. As we get nearer to 2012, people continue to ask me how real estate is doing. I think the election, the stock market, and the real estate market are really on everyone's mind at this time of year. So I have brought my numbers together so you can keep up to date on the Menifee real estate industry.

As you most likely know, my numbers are gathered based on single family homes, 3+ bedrooms, 2+ baths, and detached in nature. This will exclude condos and townhomes but I think it to be the finest indicator of the real estate industry. Let's take a look:

• Number of Actively Listed on the Market - 252
• Avg. Menifee House Listed Price - $223,077
• Menifee Houses Sold in November - 58
• Avg. Sold Menifee Cost for November - $225,949
• Avg. Days on Market Before Sale - 85 Days

These amounts match what I expected for the standard slow down as the holiday closes in. Ironically, when I created my Temecula Valley real estate report and trends, I was surprised to see an increase in closings month to month. But in Menifee we see a far more common decrease in closings from 68 in Oct to 58 in November, a drop of 14.7%. We also noticed an important decrease in sales moving from Sept to Oct - so I am careful with pricing at the moment.

Having said that, pricing of Menifee properties sold actually went up generally, from $209,560 the previous month to $225,950, a 7.82% growth in sold pricing. This pricing difference continues a trend for 3 months now however Nov was by far the greatest leap. Supply has remained almost precisely the same and days on market rose from 78 the previous month to 85 days this month. So the significant change in avg. sold cost is a shock knowing that sales figures are lower, no difference in supply, and that it is taking homes more time to sell.

That closes your Dec. Menifee Real Estate report! I hope the holidays are terrific for you and your family members and wish everybody a very Merry Christmas!

Menifee Lakes Homes, one of the most affordable and nicer areas of Southwest Riversde County.  On the West side where the homes were built in approximately 1989 the HOA fees and Riverside County property taxes are lower than the newer homes on the East side.

Menifee, CA I recently met a client that inquired about a short sale. My process of pre qualifying a candidate for a short sale is to be certain the borrower has gone through the necessary steps to save their home.

I was really surprised to hear there are still company's out there that continue to charge upfront fees in hopes of providing a solution.

My message to the public is PLEASE...do not pay one thin dime to any company out there trying to collect fees for getting you a loan modification or short sale. There are government regulations that restrict this practice.

One great source I have found that provides help is Neighborhood Assistance Corporation of America (NACA) This is a non profit advocacy providing HUD Certified Counseling to families in need. For more information on NACA please visit their website at NACA.com. They travel around the country on their 'Save The Dream Tour' and help people lower their monthly mortgage payments.