Home Selling in Temecula>Question Details

Seve Mills, Both Buyer and Seller in Temecula, CA

I have a home in Temecula I am consider selling. Is this a good time to sell or should I wait until summer? Other considerations?

Asked by Seve Mills, Temecula, CA Fri Jan 11, 2013

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Team Forss’ answer
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Great discussion and an interesting topic, for sure. I was one of the first to respond and I had the shortest answer on this one, and I am not sure if you're allowed to provide another more elaborate answer/comment :-) Here we go...

Well, is it a good time or not? Other considerations...?

The market is incredibly tight right now with an inventory down to record low levels. The Year-over-Year data for Temecula shows the list price is up 30% but the sold median price is "only" up 8% for single family homes in Temecula. Here's a Trulia link to more info, which I publish on a monthly basis:

http://www.trulia.com/blog/teamforss/2013/01/temecula_market…

It's of course difficult to predict the future what will happen to the interest rates, inventory (will the bank release more properties?), world economy, politics etc. Lisa and I personally list properties for BofA and Wells Fargo (PAS) along with other banks and they have all asked me to get ready for more homes coming on the market, but I have also heard that before... If they were the release a lot of foreclosures, the supply would increase and prices likely going down or at least cool off. The most recent home I listed for BofA was a home in Morgan Hill. We listed it at $525,000 and had 18 offers in 2 days. The bank accepted the highest cash offer at $635,000!

Ok, the upcoming properties, I have a sample of some of the listings we're going to list in the next few days. The seller's have already signed the agreements and the home is coming on the market shortly. Here's a link to some of the homes that are confirmed but we also have several other ones coming as well.

http://www.come2temecula.com/upcoming-listings.html

Another topic is to find out what's listed in your neighborhood, price trends, what sold recently. We have a FREE service that will provide you that info. And nobody is going to hassle or harass you. All that is needed is your home's address:

http://www.TemeculaMarketValues.com

Other considerations...? There are so many agents to choose from. Many of them are good, in my opinion, but there are a lot of part timers or agents with little or no marketing budget. As a seller, how do you get the highest possible sales price? Make sure your home is absolutely in show condition and staged with a professional, easy to show, but perhaps most importantly, marketed on all major websites with high quality photos and virtual tours. We have a 79 point checklist. Make sure your home is easy to be found at Trulia.com, Homes.com, Zillow.com, Realtor.com. I would also look at agent team track record, client feedback and what type of guarantees that are being offered by the real estate team. And I mean in writing!
4 votes Thank Flag Link Sat Jan 12, 2013
We also recently launched a great tool for sellers where a potential seller can see the value of their home in THIS market. http://www.GuaranteedSale.com
Flag Tue Mar 5, 2013
Lots of great answers - I am curious if you listed / sold earlier this year or if you waited...
0 votes Thank Flag Link Tue Jun 25, 2013
Hello Steve,

You have been given some excellent advise!

We responded to your question within moments of your posting on January 11th.

A couple more suggestions -
1.) Before you make a decision on listing your home- I would talk, in person, to at least 3 LOCAL agents.
2.) I would look for FULL TIME AGENTS with a minimum of 10 years FULL TIME experience as a licensed real estate agent. This means they can work through the difficult times. Not a cream puff.
3.) I would make sure they belong to the local board of realtors
Southwest Riverside County Association of Realtors (SRCAR).
4.) Ask to speak with both buyers and sellers that have worked with this agent - I would ask for recent closed escrows with in the last 30 days.
5.) See what the agent specializes in - does this fit the kind of home you're selling?

My husband Scott and I are a husband and wife team. Two for the price of one! We've lived in Temecula for over 20 years.
We've been in real estate and lending for over 30 years. Scott was an advertising major in college and has extensive computer background as well. We use only the latest and greatest technologies!
We have rare skills as real estate agents. We can vet a buyers ability to close escrow before taking your home off the market. I mean we fully qualify the buyer. We don;'t just look at the credit report. This is why when we bring you a buyer their escrow will not fall out due to financing issues. Over 50% of all escrows fall out due to financing problems.

Please feel free to check out all of our websites, profiles and testimonials. We have over 300 agents working for our company.

If we can be of further assistance please feel free to contact us. NO OBLIGATION.

Kind regards,
Scott and Shelley Weier
Cal State Realty
C2 Financial Corporation
http://www.CalStateRealty.us
http://www.BigAvocado.com
951-587-2100
Shelley@CalStateRealty.us
0 votes Thank Flag Link Tue Jun 25, 2013
If you are still considering, maybe considering rent it?
0 votes Thank Flag Link Sun Jun 23, 2013
Good Morning,
That is the million dollar question.Spring/Summer are traditionally the HOT times to sell, but no one has a crystal ball to predict what is going to happen with the economy, so there is potential risk to waiting. The market right now has low inventory and that is driving prices up. This trend could continue through the summer so you might be able to get more for your home in summer. It will probably have more to do with your personal situation and reason for moving. If you are looking to buy something else, the market forces that will possibly drive your home value up, will drive all home values up and you would theoretically pay more for the home you want to purchase if you wait. I hope this helps, feel free to contact me directly if you would like further assistance.

Thanks!
Sinead McAllister
Broker
McAllister Homes Real Estate
858-205-5215
brokermcallister@gmail.com
http://www.McAllisterHomes.com
0 votes Thank Flag Link Mon Jan 14, 2013
Hi Steve..........The market is low on inventory and you could easily sell it right away, but it depends on your reason for selling............Please call me with any questions.......Duncan McCoskrie...951.595.5115
0 votes Thank Flag Link Sun Jan 13, 2013
Steve,

This really is a judgement call. Here in southern California winter has less to do with home sales than somewhere cold and snowy.
Inventory is low right now and that ingrediant usually equals bidding wars for buyers. Strike while the iron is hot is what I say.
If you need help determining market value we offer free comparative market analysis'.

Call us anytime: (888) 9-List-It.
That's (888) 954-7848.

Or just go to our website to learn more about us:

http://GarrigusRealEstate.net

Good luck!
0 votes Thank Flag Link Sat Jan 12, 2013
Hello Seve,

There have been many good answers to your question. The housing market is predicted to go up 10-15% in the Temecula area this year. If the timing works out for you I would try to hold off as long as possible. The catch is, if you plan to buy something else, it too is going up by 10-15%. If are planning to purchase a new home after you sell, I would see if you can qualify for the new home, rent your current home and sell as the value continues to increase. The rental market in Temecula is extremely strong as well.

If I can answer any other questions, please feel free to contact me 951-514-0003. Have a good weekend.
0 votes Thank Flag Link Sat Jan 12, 2013
Funny how nearly every realtor here says sell now. Of course if you were asking if it is a good time to buy, they’d say it sure is. So which is it? Can’t be both. Prices are still at very low levels relative to the past bubble. Ask yourself if you feel the price correction activity is over. If it is, then an inflationary cycle may be in the works. If that is the case, selling is not the correct move. If you can rent the current home, and purchase another, you will be controlling a larger stake in the market. Let the tenant pay the mortgage on the asset while it appreciates. This is similar to the practice of margin buying in the stock market, except you are able to rent the asset to pay the margin interest. Obviously there are other parts to this equation. Do you need to sell to free cash up for your next down payment? Will a refi on the current home get what you need? Would a Refi lower the interest rate you are currently paying bettering cash flow? Or, are you not the type that wants the exposure risk? Would you rather sell, enabling you to buy up without the landlord issues? The question you ask is not one easily answered on an internet forum. Find a good Realtor you can trust. Sit down and plan out a long term strategy. And remember, you are likely going to pay more in interest over your lifetime than the actual asset cost. So finding a lender who understands leveraging maneuvers is critical. Good luck with your moves, whatever they may be.
0 votes Thank Flag Link Sat Jan 12, 2013
Hello Steve, that's a great question and you've received many great answers. I have to agree with Andrew. Timing the market can be tricky. It's best to go with what works for you. Currently the amount of homes for sale vs. the amount of buyers is in your favor.

Let me know if you have any further questions or would like to know how much you could make on selling your home. My team can guarantee that your home will sell within 69-days or we'll pay you $2,500!

Make it a great weekend Steve.
0 votes Thank Flag Link Sat Jan 12, 2013
I have been hearing from my friend in that area that real estate is hot. Multiple offers are the norm. With very little inventory you will command a much higher price. It would be advisable to speak with a local real estate agent now.
0 votes Thank Flag Link Fri Jan 11, 2013
It is currently a great time to be a seller in the Temecula market!! We are experiencing a shortage of homes and therefore any new home that comes available is receiving multiple offers at a premium price.
While you are the only one that can say when the "right" time is; market conditions are a good indicator that your home will sell quickly and at a favorable price.
Also consider using a local agent when selling your home. As local agents we are familiar with the local area and market trends and we know our market best!
I am happy to meet with you in person to further discuss the possible sale of your home and to answer any questions that you may have.
I can be reached at 951-514-7854 or via email at ashleycooper4homes@gmail.com
http://www.temeculaagent.com

Please view my profile to see what my clients are saying about me!
0 votes Thank Flag Link Fri Jan 11, 2013
Realtors have been saying its a good time to sell since 2002. We can't bring ourselves to tell you it's not a good time to sell because we really beliew it is!

No one can predict the future, but we can tell you this:
If you owe more than your home is worth and need to short sale, they have extended the short sale mortgage debt relief act through this year, if you wait too long, you may have to pay taxes on your deficiency amount.

If it's a standard sale, homes average 10-15 offers per listed home. We are short inventory which drives home values UP! Thats good news for you. We are also experiencing an increase in prices every month consistently in Temecula.

Here's what the question really boils down to though: what do you need to sell you house for and can you find a buyer to buy it for that?

That being said, I have a buyer RIGHT NOW that desperately needs a home in Temecula or Murrieta up to $400,000 and I can guarantee they'll purchase your home in any condition, that's how much they need a home (they are selling their current home now and need to be out in 60 days).

Let me know if you are interested.

Valli Lopez
01810641
619-916-9595 cell
Valli@thebrikhogroup.com
Web Reference: http://Www.ValliLopez.com
0 votes Thank Flag Link Fri Jan 11, 2013
Hello Steve Mills,

Good question...

There are several questions we would ask you before we could answer your question.

It would depend on where your property is located? Some areas are experiencing a sellers market.
It would depend on what your plans are for buying? Do you have equity or are you upside down?
What was the original price of your home when you purchased it?
The market it coming back. There have been better times to sell property. This may or may not be a good time to sell for you. We would need to know more information before we could give you our professional opinion.

My husband and I have worked and lived - full time - in the Temecula Valley for over 20 years. We've been in real estate and lending for over 30 years. This will be the third time we've worked through a down real estate market.

We would be glad to talk to you in more detail. I don't think this forum would be the best for privacy reasons.

Please feel free to look up our profile, websites and testimonials on this site or any others.
Please dont hesitate to contact us to discuss further.

We will give you an honest answer!

Kindest regards,
Scott and Shelley Weier
951-587-2100
Cal State Realty
C2 Financial Corporation
951-587-2100
scott@calstaterealty.us
shelley@calstaterealty.us
0 votes Thank Flag Link Fri Jan 11, 2013
Yes it's a good time to sell a house right now you will get multiple offers if you price your house right. I'd be glad to help if you're interested. I can be reached at 760 505 1340
0 votes Thank Flag Link Fri Jan 11, 2013
Hello Steve,

Now is a great time to sell. You may be surprised to know that we are currently in a Standard Market. Most properties are receiving multiple offers. Interest rates are at a historic low which is motivating buyers.

Feel free to contact me anytime for a free market analysis. I have plenty of buyers.

Jacqueline Baird, Realtor
Hallyway Realty
DRE# 018827512
jacqueline@hallwayrealty.com
(951) 445-1866
0 votes Thank Flag Link Fri Jan 11, 2013
Rather than try and time the market, the best time to sell should be when it is the right time for you to sell considering all factors. For instance, if you have kids in school you might want to wait, if moving out of the area you might not want to move somewhere with snow until the Spring etc. I can tell you that inventory in our local market is currently very low and buyer demand remains high. No one knows how that will be several months from now. I would be happy to discuss all options if that would be of interest to you.
Web Reference: http://AndrewSmithHomes.com
0 votes Thank Flag Link Fri Jan 11, 2013
Hi Seve,

Now is a good time to sell as there is a shortage of houses for sale right now - which may not be the case in the summer. There are more buyers in the market right now than sellers.

If you would like me to, I can send you a Comparative Market Analysis (CMA). I just need your email address and the approximate amount still owed on the property (so I can prepare a Net Seller Proceeds sheet with the CMA).

Shanna Rogers
SR Realty
http://www.RealtyBySR.com
0 votes Thank Flag Link Fri Jan 11, 2013
My short answer: Sell it NOW. The inventory is record low and the mortgage rates are almost record low.
0 votes Thank Flag Link Fri Jan 11, 2013
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