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Scott Barr Realtor soldbybarr.com Canyon Lake Luxury Homes

MURRIETA'S REO REPORT

All the houses I looked at for my clients back in June have all been sold. They were are all banked owned properties and all located within two blocks of each other. There are only two properties on the market in this particular area of Murrieta. Neither were there at the time of my sell. My advise is still the same if you find the property you like and can afford it buy it because it will not last. Something else to keep in mind is that it is more important then ever to have a buyers agent who knows how to get the job done.

Where do we go from here?

The numbers don't lie sales are up for two months in a row compared to last year in my area. So my question is where do we go from here? Sales seem to be breaking out every where and sometimes I'm there when it happens. Will prices continue to increase? Will interest rates keep settling at a higher percentage? Can both things keep on happening at the same time? I know the answer to that one is no. But what about prices? I have buyers that are waiting for prices to go lower. In my area this does not seem likely. Primarily because we have experienced a 50%+ drop already since '05. Their thinking is to wait and buy around Christmas time when we all know selling real estate can be a challenge. It would be interesting if the powers to be could figure out a way to drop interest rates so that we could recover some of the equity in our homes and keep this momentum going.

Murrieta's REO Report

Do you remember that old saying? "If you come to a fork in the road, take it.

Now I know what they meant by it. There are so many choices in the market place that its hard to pick the right one. This process is helped by the fact that banks are receiving multiple offers but it is still a struggle for some folks to choose. Of course I'm talking about the current real estate market here in Southern California. I have clients who are finding three and four properties that they could easily live with. Patients on my part is paying off. By not rushing people to make a decision when they are not ready I will continue to have a happy clientele base. It can be very over whelming to choose a house in today's market. You can see for yourself www.soldbybarr.com

Temecula REO Report

Temecula is experiencing a high volume of sales due to "Bank owned" property's. Homes that sold for 600k plus are now selling in the 300k range. As a buyers agent, this is very exciting for me and my clients. Although, I must add this caveat; we are seeing multiple offers on almost every transaction. In fact, one property that was priced way below market value, had 25 offers on it including 3 cash offers. Bless the listing agents heart, she said she was going to summit all offers. (Maybe thats why she is so successful.) Anyway, this is the time to buy in Temecula Ca. If you don't believe it, call me at 909-261-2497 and I'll show you what I'm talking about.