Cameron Wilson: Murrieta/Temecula/ Menifee California Real Estate

It is not a secret that home prices in Murrieta Ca. are down as we are no different than other parts of the country and this has created a mindset with many consumers that houses are selling for pennies on the dollar,especially if the property is bank owned (REO), and they want to go "fishing" for a deal. There really are some great deals on homes right now but they are not free and yesterday I had the privilege to hand over the keys to a beautiful home to a client, Ryan, who now understands the real estate market.

Ryan looked at five REO properties in the beginning of our search and I showed him the comps on each property before he decided to make a offer on one in particular but the offer he wanted to make was ridiculously low but he insisted on making the offer. I explained to him the bank not only would reject his offer they might not even respond to it but I would write this offer on the condition that this would be the only "fishing" trip he and I would go on together. One week later we called the listing agent who happened to be a friend of mine and Ryan was shocked to hear that the bank was not going to respond.

We found Ryan another home and the bank had just reduced the price 10% but they agreed to drop another 4% and pay $5000 towards Ryan's closing costs and he is thrilled with his purchase as he is now an informed consumer with a better understanding of the real estate market.

Educating the consumer is my responsibility as a Realtor.

With all the media reports from the so called Experts we all have been hearing about recently on how bad the real estate market is and how it will continue to decline all I can offer is the market report for my primary area of Temecula, Murrieta and Menifee California.

In January 2008 we had 49 properties go into pending status (accepted offers) and that was an OUCH month.

In Febuary 2008 there were 338 properties that went into escrow.

From March 1st 251 properties have gone into escrow and many of these properties had more than 1 offer so those buyers are still looking for another property which in turn will bring more sales this month.

These numbers are not going to bring us out of the current real estate slump but the numbers presented here do show the market, at least in my area, is picking up contrary to the media reports of gloom and doom. Is it a good time to purchase real estate? Obviously the 638 people that purchased in this valley think so.

Murrieta Ca. is a city that has grown to a population of 100,000 since it incorporated in 1991 with 27,000 residents and was a close-knit small town. The residents, myself included, voted to tax ourselves so our own fire department could be formed and the dept. has been a source of community pride ever since.

Today we once again have that small town sense of community as we mourn the death of one of our first firefighters, Captain Matt Moore, who passed away Monday night after being in the hospital since December fighting a rare form of meningitis.

On Saturday March 8 the residents of Murrieta came together for a pancake breakfast fundraiser to benefit Capt. Moore and his family and raised close to $40,000 to help them thru this difficult time. What a great community we are fortunate to live in and be a part of and Capt. Moore will be greatly missed not only by his family and fellow firefighters but by the whole city as we have lost one of our own.

Donations to the Matt Moore Family Fund that has been set up by the Murrieta International Association of Firefighters can be made at Wells Fargo Bank, 41232 Murrieta Hot Springs Road.

The Murrieta Ca. firefighters auxiliary held a pancake breakfast today, March 8,2008, for Captain Matt Moore and the good people of Murrieta stepped up to the plate and helped this brave firefighter and his family to the reported total of $38,000.

Capt. Moore and his brother Capt. Mark Moore were two of the first firefighters hired by the city of Murrieta 18 years ago and both have worked their way up the ranks to their current rank of Captain and coming from a family of firemen they know the danger of their profession and they face it proudly. Recently Capt. Matt Moore fell into a coma due to an obscure form of meningitis that has invaded his body. His wife Sherry and their three children, Alyssa 16, Trent & Brandon 13, are praying for a miracle for this wonderful husband and father and the firefighters in Murrieta took it upon themselves to help the family of their brother and what a terrific job they have done.

When Southern California was on ablaze last year these brave men and women were in the midst of the firestorms risking their lives for all of us and now the people of Murrieta have said Thank You to Capt. Matt Moore and his family in their time of need.

May God bless this family and all the firefighters across this great land as it takes a special person to run into a burning building as everyone else is running out.

How to donate; The Murrieta International Association of Firefighters has set up a fund to benefit the Moore family. To make a donation to the Matt Moore Family Fund, contact Natalie Martinez at Wells Fargo, 41232 Murrieta Hot Springs Road, or call the associations president,Capt. Mike Ramos, at (951) 970-5712

Due to the rise in foreclosure rates across the country and the problem of neglect with some of these properties the city of Murrieta Ca. on Tuesday March 4th adopted an ordinance that will require lenders holding these real estate owned (REO) properties to keep up with the maintenance or they will be fined.

The ordinance requires lenders to maintain security and landscaping on the homes which they have taken possession. Lenders will be fined $100 per day for failing to register the property or failing to post that the property is bank owned; $250 for allowing lawns to die or failing to remove graffiti, litter or weeds. In addition they will be fined $500 for unmaintained swimming pools with stagnant water or unsecured structures on the property; and up to $1000 if the city learns public utility theft happens on the property.

As a Realtor who works with REO properties on a daily basis I can understand the position of the city and all of us want to get families into these homes as quickly as possible but the city has to work with the agents and not come down with a heavy hand and impossibly short timeliness.

The cost of business just went up and we agents who market these properties pay for the utilities and now the upkeep upfront and then wait for reimbursement from the lenders so all we ask from the city is cooperation and understanding.

In the meantime I guess I'll go Mow the lawn.