Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate

If you listen to the media you have probably heard stories that there is a glut of properties on the market at this time. In some markets this may be well and true but the thing you must remember is Real Estate is local and not all areas are the same. If you are considering buying in Murrieta, Temecula, Menifee or the surrounding communities the inventory has shrunk to dramatically and we have many buyers looking for the best deals.

The choice you need to consider is how soon you want to move and are you ready to act quickly to make your offer. As we are in what has been traditionally been the buying season we are now seeing multiple offers on the best priced properties. People re getting frustrated when they find out they will be competing with other buyers but with the $8000 dollar first time buyers credit folks are taking advantage to achieve the dream of owning their own home.

If you are considering purchasing a Real Estate Owned (REO) Foreclosure be ready to act quickly. These homes are usually priced very well and receive multiple offers if marketed correctly. Making a low offer on one of these properties with in the first 30 days of being on the market is a total waste of time. On average they sell for more than the listing price when multiple offers are received.

On the other hand if you are not in a great hurry and can be patient you may want to look at Short Sale properties. In the case with these homes the seller is selling the property for less than is owed on the property and can be a great value for the buyer. The sale will be subject to the current lender accepting a lower payoff and it will take longer to get their approval than a normal sale. On average it will take 90 plus days to get an acceptance from the lender and to close escrow. Some go through faster but they are the exception.

Either way it is a good time to purchase a home and interest rates are at a historic low so buyers do have opportunities and options. Consider which option may be best for you then you need to have an experienced agent help you find the home that fits your needs. In both scenarios you need a Professional to represent you through the process and to protect your interest in the transaction.

Unless you have been in outer space for the past 2 years you already know many folks in Murrieta, Temecula, Menifee and surrounding communities in California are selling their properties via Short Sale. I will not go into the details of a Short Sale other than to say you need to sell your property for less than is owed to your current lender. The reasons can be varied, job loss, illness, divorce etc but the property needs to be sold. Choosing the right Agent is critical for your success and this little story will show you why it's so true in today's Real Estate Market.

Recently I received a Real Estate Owned (REO) listing ,that is a foreclosure property, from one of my banks. As usual the first thing I did with this assignment was to look into the Multiple Listing Service (MLS) for my area and see if the property had been on the market. It showed it was currently on the market in Pending status (in escrow) as a short sale.

When I went to check if anyone was living in the house I found it to be empty but there was a For sale sign and a lockbox on the door. Nothing unusual about my findings and after reporting to my Asset Manager who double checked the foreclosure I had my locksmith change the locks so I could gain access. Normal procedure with REOs and the house was in terrific condition.

Here is the ultimate tragedy for the previous owner of this home as they lost it to foreclosure. I called the previous listing agent,out of area, to let her know I would store her sign and lock box for her to pick up at her convenience. She immediately wanted to know when the foreclosure took place and why did the bank do a foreclosure since she had a Short Sale offer in to them.

When I asked when her offer was sent into the bank her response was approximately 120 days prior to my call. When I asked when was the last time she had spoken to the bank and had a Short Sale Negotiator been assigned to the file her answer was: I called when I received the offer and obtained a fax number to send the offer to the bank and I don't know about a Negotiator.

After a few more questions from me she admitted she never called the bank ever again to get this file through the Short Sale process. It was her belief it was up to the bank to contact her to get the process started and completed. This is total ignorance of the short sale process as Agents must stay on top of these files on a Daily basis to get them completed. The lack of knowledge in this case brought about the foreclosure that will stay on the sellers credit for many years.

Moral of the story is if you need to sell your property via Short Sale find a Realtor who knows the procedure and will get it done.

Purchasing a home is a complicated process and it's always best to work with a Professional Realtor who knows the market and the ins and outs of the procedure. Many people think Real estate agents are simply door openers by gaining access to properties that are on the market. Nothing could be further from the truth and why anyone would put what may be their largest single investment into the hands of someone who "tries" to sell real estate as a part time way to make extra money is beyond me.

Today I received a call from my grown son who lives in another state with his wife. That's always a good thing when the kids call the old guy just to say hey and let me know how things are going with them. Next month we will get to see one another at my daughters wedding and we got some of the details worked out. Then comes the Real Estate question that prompted this article.

Seems my son has a friend who at the ripe ole age of 21 decided he needed to buy a home of his own. Tim is a very smart young man to realize the benefits of owning a home but by not knowing how to go about it he may not realize that goal at the moment. Seems Tim made an offer on a property that was accepted by the seller and into escrow they go. Good thing!!!!! Lender says his bank can and will make the loan. Another good thing.!!!! Tim is told by his agent not to worry through the whole process as everything will be fine. He expected to get his keys this past Wednesday but oooops no closing. Bad thing!!!!!

Apparently the lender is having trouble fitting the loan into their guidelines as Tim cannot document all of his income. That happens sometimes but can at times be resolved if everyone works together. My son then asks me what could be done for Tim to get his home. Not knowing the whole situation and not wanting to stick my nose into others transaction I asked my son where Tim's agent was through out this whole process. Well it turns out Tim's agent is actually a auto mechanic at the dealership Tim works at and he promised to refund 50% of his commission at the close of escrow but he obviously does not have the time to keep up with real estate during the week. Bad thing!!!!!

I did tell my son how I would have handled this transaction but after all I work full time for my clients. Tim may have to start all over in his search for a home and hopefully he will work with a Realtor who actually has the time to work for his client and is not just wanting to make a few "extra" bucks with his hobby. He lost out once on a home he loved by greed in wanting back part of the agents commission and going with someone who does not understand nor respect our Profession.

If you are looking to buy a home in Southwest Riverside County including Murrieta, Temecula and Menifee please feel free to contact me. You can rest assured I work full time and very diligently for my clients and I will find you your next home. If your car is not running smooth take it to a professional mechanic but if you are looking for a home call a Professional Realtor.

Times are hard for many people with the economy on a downward turn and the cost of living rising. In times like this I sometimes wonder if it doesn't cause some normally law abiding folks to rationalize a little foray into the darker side of life and become thieves as after all that's a foreclosed property owned by a big ugly bank.

One of my listings located in Murrieta California is a beautiful home and it is in terrific condition. The lender foreclosed on this property and the former owner moved out of state leaving the washer and dryer which were in near new condition. After the 18 day period for the previous owner to reclaim them they became the property of the lender. Boy did they look good in the upstairs laundry room and I used that in my marketing of the home.

We have received five offers on this home as of today and tomorrow we will have an answer as to which offer will be accepted. Today I receive a call from the agent who has the highest offer, he doesn't know that yet, asking where the washer and dryer went. That's news to me as they were there on Sunday when I did my check on this property. I went and spoke with some of the neighbors, didn't see a thing, and one of them made the statement that since it was a foreclosure what difference did it make if someone took them. Wow!!!!

Makes me wonder if this was an idle statement of one person or a change in the thinking taking over in our society. A thief is a thief and if it's not yours and you take something that makes you a thief. I hope this is not where we are headed as a Nation as my Dad taught us we would be dead meat if we stole and he found out about it. On the other hand maybe I think too much.

Most of us have foreclosed properties in our neighborhoods so lets all do our part to improve the housing problem. If you see someone removing things from one of these homes call the police and report a burglary as that is exactly what it is.

Have you ever had one of those days when your just a step out of pace and things just don't quite work as well as you would like? The job gets completed but it could have gone a little smoother? My client is a commercial airline pilot who I will call Jim and his wife Sue flew in from the east coast on Friday to look for a second home. Jim was here on Monday and the temperature was 80 degrees. Perfect.

The car pictured here belongs to my lovely wife and she loves this car. Very seldom do I drive it as she thinks every time I use it something happens to "her" car. I will admit I bumped a curb and took a little paint off of one of those 22 inch wheels but it wasn't my fault when that semi truck blew a tire and I couldn't avoid running over the tread tearing off the front spoiler and turn signal. Body shop made it good as new.

Saturday morning I get to the office to go show Jim and Sue some properties. It rained Friday night but Robert, the office weatherman, says the storm in Southern California will miss our area in Murrieta according to the Doppler Radar and Roberts interpretation. Fantastic. Off we go to look at homes and guess what? Downpour. Robert would make a good weatherman as he was totally wrong.

On the way to the first house Jim says he must have eaten something that was upsetting his stomach. Turns out his tummy is sensitive but he's up to looking at the homes they choose. Arriving at Greer Ranch, a gated community, I roll down the window and punch in the gate code with no problem. We look at four homes then head over to Murrieta Heights to look at one more property.

Upon arriving at Murrieta Heights the rain has stopped. At the gate I roll down the drivers window to enter the gate code but I couldn't reach the keypad so I opened the door and entered the code and off to the house we go. Nice home and while we are there it begins to pour down rain. After 30 minutes Jim and Sue want to go back and see house number three so out to the car we go. Ooops! I left the drivers window down in the car and it's quite wet. Being the guy I am I need something to dry the seat and the control panel inside the drivers door. Well well my wife left a sweater in the rear of the car.

Remember Jim's upset stomach? While we are back at house number three Jim now has a big problem and needs to go to the restroom NOW. An emergency is an emergency and the one thing usually not found in vacant homes is toilet paper. I work hard for my clients and we were a few miles from a store so the quickest solution I could come up with was to go next door and see if I might make a purchase. The man who answered the door laughed his head off after I introduced myself and explained my problem. He didn't want the $5 dollars I made him take but it was my way of saying thank you for giving a stranger at his door a roll of toilet paper on a rainy day.

Sue called on Sunday to say Jim slept all the way on their flight home Saturday night and he is fine. They will be back next week to look at two more homes and make an offer but they were leaning towards the last home we saw. Fantastic. As for my wife she just shook her head and instructed me to get "her" car an interior detail and drop her sweater off at the cleaners.

If you are looking for a home in Murrieta, Temecula, Menifee or the surrounding communities please contact me. I promise to put you, the client, first and do whatever it takes to help you find the perfect home. Maybe my wife will let us take "her" car.