Tom Bashe - Broker, Realtor, Temecula Homes for sale, Temecula Real Estate

Murrieta Bank Owned Homes For Sale

There are currently 109 Bank Owned homes in Murrieta. They range in price from $68,000 to $970,000; in size from 854 square feet to 6650 square feet, and the average days on market for a Bank Owned home in Murrieta is up over 60. If you click on this link, it will take you to the MLS to allow you to see all 109 Murrieta Bank Owned Homes For Sale. If you want to search the MLS on your own, and include Standard and Short Sale listings, then click here to search through all homes currently listed in Murrieta on our website, www.scarealestate.com.

I would love to be your Murrieta Bank Owned Real Estate Agent and represent you in the purchase of a Murrieta REO/Bank Owned home! I have extensive experience, and my team closed over 40 REO transactions in 2010, on both the listing and buying side of a home purchase. I know this valley like the back of my hand, from the newer communities to the older ones, I can find the home that is perfect for your family! Give me a call at (951) 491-5052 and let me be your Murrieta Bank Owned Real Estate Agent today!

Temecula Bank Owned Homes For Sale

There are currently 101 Bank Owned homes in Temecula. They range in price from $104,000 to $1,400,000, in size from 1040 square feet to 6550 square feet, and the average days on market for a Bank Owned home in Temecula is up over 60. If you click on this link, it will take you to the MLS to allow you to see all 101 REO homes in Temecula. If you want to search the MLS on your home, and include Standard and Short Sale listings, then click here to search through all homes currently listed in Temecula on our website, www.scarealestate.com.

I would love to be your Temecula Bank Owned Real Estate Agent and represent you in the purchase of a Temecula REO/Bank Owned home! I have extensive experience, and my team closed over 40 REO transactions in 2010, on both the listing and buying side of a home purchase. I know Temecula like the back of my hand, from the newer communities of Wolf Creek, Morgan Hill, and Harveston, to the older established communities of Paloma Del Sol, Country Manor Estates, and Rancho Highlands, I can find the home that is perfect for your family! Give me a call at (951) 491-5052 and let me be your Temecula Bank Owned Real Estate Agent today!

Temecula's Rising REO Inventory... There is more to it than what meet's the eye

In Temecula, there are now 115 REO, otherwise known as Bank Owned Active Listings. At the market's bottom (mid 2009), there were only 40 active Bank Repos in Temecula. These numbers could seem fairly alarming to most buyers, and in all honestly, I can completely see why buyers are back to sitting on the sidelines, as it is up to us, as Real Estate Professionals, to educate our buyers on market conditions.

If you look closer at the 115 Active REO homes in Temecula, you will see that over 50% of them are "Fannie Mae" homes, which, in my opinion, Fannie Mae Homes are priced 20-25% above fair market value. They typically sit for months on end, and endure several price reductions, before the "seller" becomes realistic with the home's fair market value.

That being said, homes that are priced correctly, whether it be an REO (Bank Repo) or Standard Sale (Probate, Investor Owned, Traditional Owner with Equity), are selling within 60-90 days of being listed on the Multiple Listing Services with a Realtor.

Moral of the story? Educate your clients! Don't let your buyer's control the conversation based on "media reports, or a neighbors opinion on the market", give them factual data, and SHOW THEM why NOW is as great a time as any to purchase a home!

Rarely will I put another listing agent on blast, and when I do, I do it ever so delicately, by not naming names, property addresses, etc. I was browsing the MLS for REO homes in Temecula, as I have a client looking in Santiago Estates at properties up to $600,000, when I happened to stumble upon a listing where the 1st sentence in the MLS reads "Beautiful Temecula Wine County"... Sounds like a good start to a description, right? Only one problem here, the home is in Santiago Estates, not in Wine Country, 2 VERY different areas! Santiago Estates is smack dab in the middle of Temecula, and is arguably the most desirable neighborhood in Temecula, whereas Wine County is out in East Temecula, and depending on how far into Wine Country you go, some parts are considered semi rural! So to compare a luxurious community of homes in the center of town, surrounded by the hustle and bustle of the city, to a community 5-10 miles east of central Temecula is not exactly comparing Apples to Apples.

Now comes the question I have for Wells Fargo Bank ~

WHY in the heck do you give a $400,000 listing to an agent who doesn't even know what community the home is in?

Perhaps this is WHY the home is still on the market 6 months later, when homes in Santiago Estates priced this low typically sell in less than 30 days!