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Chris Blasic's Blog

By Chris Blasic | Agent in Murrieta, CA

Temecula Home Prices are dropping……NOT

I tend to watch CNN and the local business networks as much as the next guy I guess. I see and hear how bad the economy is and how the experts predict home values are going to continue to drop, so I understand when a potential home buyer calls and tells me prices are going to drop even more so they want to put in a lower offer on a short sale or bank owned property they have come across in Temecula, Murrieta, or the Menifee Valleys.

So are Temecula home prices really dropping? Well I can tell you this- I've learned that whenever the masses are telling you one thing, it's a best bet to do the opposite or at least assume the opposite. Temecula home prices are not dropping. In fact of you look at the numbers they are rising. After doing a little research here's what I found.....

Temecula Real Estate MarketAre Temecula home prices dropping? Not if you look at the data over the last three years. I’ve said it for years now, the bottom of the Temecula real estate market was 2009. When it’s all said and done many, many years from now the experts will look at the data with their graphs and reports and talk endlessly about the great recession and when it all came crashing down in 2009.

I get calls daily from potential buyers that tell me they want to make an offer on a Temecula property. I say “great, what do you want to offer?” Before I even finish my sentence, I realize I already know the answer. Sure enough they proceed to tell me how bad the market is and they predict (from the months of watching CNN and reading the real estate section of the local paper) that the market is going to crash again and they feel they should get the property at a screaming deal. At least 10 to 20 percent lower than asking price because the world is still coming to an end.......read more

Thanks for Listening!

Chris Blasic

Allison James Estates & Homes

951-212-7333



Comments

By Voices Member,  Thu Nov 24 2011, 05:00
Good article Chris....I like your honesty. It seems to many individuals are afraid to tell clients that homes prices are not dropping. I get the same thing with mortgage rates. Clients hear commercials and ask why they can't get a rate at 3.5% with no cost! Gotta love TV! Have a good one....Rich

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