multiple offers in Temecula

[cashflow]

So recently we’ve heard that the activity level on home buying has picked up in Temecula. Anyone else have any insight to this? I’m a bit surprised, but have even heard that there are multiple offers on some of the better priced homes.

I am wondering if anyone has any further insight and where they think this is headed.

I personally think we are in for more price depreciation there, but am a bit surprised by this uptick in demand.

[sc_alum]

long time lurker, first time poster…

As a t-mec resident, I can vouch for the multiple offer scenario, but only for quality properties that are listed under 100$/sq ft. Unfortunately, most folks havent realized that they missed the boat on pricing, so there’s just a huge disparity out there in terms of listing amounts.

[sc_alum]

long time lurker, first time poster…

As a t-mec resident, I can vouch for the multiple offer scenario, but only for quality properties that are listed under 100$/sq ft. Unfortunately, most folks havent realized that they missed the boat on pricing, so there’s just a huge disparity out there in terms of listing amounts.

[sc_alum]

long time lurker, first time poster…

As a t-mec resident, I can vouch for the multiple offer scenario, but only for quality properties that are listed under 100$/sq ft. Unfortunately, most folks havent realized that they missed the boat on pricing, so there’s just a huge disparity out there in terms of listing amounts.

[sc_alum]

long time lurker, first time poster…

As a t-mec resident, I can vouch for the multiple offer scenario, but only for quality properties that are listed under 100$/sq ft. Unfortunately, most folks havent realized that they missed the boat on pricing, so there’s just a huge disparity out there in terms of listing amounts.

[sc_alum]

long time lurker, first time poster…

As a t-mec resident, I can vouch for the multiple offer scenario, but only for quality properties that are listed under 100$/sq ft. Unfortunately, most folks havent realized that they missed the boat on pricing, so there’s just a huge disparity out there in terms of listing amounts.

[recordsclerk]

I think you are going to see some activity in the area’s that have been hit the hardest. I don’t see this as being at or near the bottom, but this is going to put pressure on the more centralized sought after areas. Temecula, Chula Vista and other hard hit areas are becoming bargins compared to the Coastal and Central areas. You should start seeing some bargin hunters looking for a good deal in the less desirable areas that have the most price declines. You may also see some condo action as they are coming closer to being cash positive rentals.

[recordsclerk]

I think you are going to see some activity in the area’s that have been hit the hardest. I don’t see this as being at or near the bottom, but this is going to put pressure on the more centralized sought after areas. Temecula, Chula Vista and other hard hit areas are becoming bargins compared to the Coastal and Central areas. You should start seeing some bargin hunters looking for a good deal in the less desirable areas that have the most price declines. You may also see some condo action as they are coming closer to being cash positive rentals.

[recordsclerk]

I think you are going to see some activity in the area’s that have been hit the hardest. I don’t see this as being at or near the bottom, but this is going to put pressure on the more centralized sought after areas. Temecula, Chula Vista and other hard hit areas are becoming bargins compared to the Coastal and Central areas. You should start seeing some bargin hunters looking for a good deal in the less desirable areas that have the most price declines. You may also see some condo action as they are coming closer to being cash positive rentals.

[recordsclerk]

I think you are going to see some activity in the area’s that have been hit the hardest. I don’t see this as being at or near the bottom, but this is going to put pressure on the more centralized sought after areas. Temecula, Chula Vista and other hard hit areas are becoming bargins compared to the Coastal and Central areas. You should start seeing some bargin hunters looking for a good deal in the less desirable areas that have the most price declines. You may also see some condo action as they are coming closer to being cash positive rentals.

[recordsclerk]

I think you are going to see some activity in the area’s that have been hit the hardest. I don’t see this as being at or near the bottom, but this is going to put pressure on the more centralized sought after areas. Temecula, Chula Vista and other hard hit areas are becoming bargins compared to the Coastal and Central areas. You should start seeing some bargin hunters looking for a good deal in the less desirable areas that have the most price declines. You may also see some condo action as they are coming closer to being cash positive rentals.

[pizzaman]

Recently I’ve noticed what seems to be a new strategy on the part of some banks. On several properties in areas that I follow in Murrieta they have listed for an artificially low price and started a biding war that ended up with the property selling at or above the price that current market would dictate. For example in one area I follow all of the recent sales (primarily REOs) have been in the neighborhood of 450,000 to 500,000. Of course these same homes were selling for 600,000 to 700,000 at the peak. The bank takes back one of these houses and lists it at 331,000. Three days and 28 offers later it goes into escrow at the highest offer which I’m told was 450,000. Pretty decent marketing ploy, but I don’t see that it means there has been any sort of change in market sentiment. Reminds me of the REDC auctions.

[pizzaman]

Recently I’ve noticed what seems to be a new strategy on the part of some banks. On several properties in areas that I follow in Murrieta they have listed for an artificially low price and started a biding war that ended up with the property selling at or above the price that current market would dictate. For example in one area I follow all of the recent sales (primarily REOs) have been in the neighborhood of 450,000 to 500,000. Of course these same homes were selling for 600,000 to 700,000 at the peak. The bank takes back one of these houses and lists it at 331,000. Three days and 28 offers later it goes into escrow at the highest offer which I’m told was 450,000. Pretty decent marketing ploy, but I don’t see that it means there has been any sort of change in market sentiment. Reminds me of the REDC auctions.

[pizzaman]

Recently I’ve noticed what seems to be a new strategy on the part of some banks. On several properties in areas that I follow in Murrieta they have listed for an artificially low price and started a biding war that ended up with the property selling at or above the price that current market would dictate. For example in one area I follow all of the recent sales (primarily REOs) have been in the neighborhood of 450,000 to 500,000. Of course these same homes were selling for 600,000 to 700,000 at the peak. The bank takes back one of these houses and lists it at 331,000. Three days and 28 offers later it goes into escrow at the highest offer which I’m told was 450,000. Pretty decent marketing ploy, but I don’t see that it means there has been any sort of change in market sentiment. Reminds me of the REDC auctions.

[pizzaman]

Recently I’ve noticed what seems to be a new strategy on the part of some banks. On several properties in areas that I follow in Murrieta they have listed for an artificially low price and started a biding war that ended up with the property selling at or above the price that current market would dictate. For example in one area I follow all of the recent sales (primarily REOs) have been in the neighborhood of 450,000 to 500,000. Of course these same homes were selling for 600,000 to 700,000 at the peak. The bank takes back one of these houses and lists it at 331,000. Three days and 28 offers later it goes into escrow at the highest offer which I’m told was 450,000. Pretty decent marketing ploy, but I don’t see that it means there has been any sort of change in market sentiment. Reminds me of the REDC auctions.

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