Aug. 9, 2017

Fun Upcoming Events in August 2017

Fun Local Events for August 2017 

Temecula 

Shakespeare in the Vines Macbeth: 

Be sure to get your tickets for Macbeth Friday August 11, which is being held out at Baily Vineyard & Winery. This is a fun event you won’t want to miss. General seating starts at $22 a person. 

Build Your Own Boat Regatta: 

On August 18th from 6:30-9:00 head over to the Temecula Community Rec Center for a fun family evening. This is a competition that involves building 2 man vessel made out of only cardboard and duct tape. You will need to pre-register to ensure a spot for competing. The cost is only $10. 

James and the Giant Peach:

August 17th - 25th, the Old Town Temecula Community Theater will be featuring the musical James and the Giant Peach. Tickets start at $30 per person. This event is perfect to take the whole family to. 

 

Murrieta

Movies in the Park: 

During the month of August, the city of Murrieta will be having their annual movies in the park. They are being shown at the California Oaks Sports Park. Admission is free and be sure to bring your chairs & blankets. Devilicious food truck will be there selling some delicious food. Movies begin at dusk. 

August 5th – The Secret Life of Pets

August 12th – Top Gun

 

San Diego

Del Mar Concert Series:  

Every Friday night in the month of August and a few Saturdays after the last race stay for the Del Mar Summer Concert Series. The concerts are free with admission before the start of the last race. After that they are $20 per person. Must be 18 and older to attend. 

August 4th – Eagles of Death Metal 

August 5th – Billy Currington 

August 11th – The White Buffalo 

August 12th - Ludacris

August 18th – Steel Pulse 

August 25th Lord Huron

August 26th – Slightly Stoopid

Posted in Local Events
Aug. 9, 2017

Client Letter for August 2017

August is coming and in short order I will have TWO middle school age boys.  I swear, they were 2 and 4 years old just yesterday.  Tackle football is also coming to the West family.  I personally LOVE to play, but I’m not loving the idea of my 13-year-old doing it. Hypocrite much?  Yup, but it’s my kid, plus my wife is going to freak out every time a player even grazes her boy.  I am positive any injuries will be all my fault ?.

While I am sure you love hearing about my family, you would probably prefer to hear about real estate.  Essentially, real estate is very steady right now. A perception currently gaining momentum is that “what goes up, must come down.”  In the past month, I have been asked more than at any other time this year if the market is hitting a peak, are we in a bubble, is it a good time to sell, etc.  

No, I do not think we are in a bubble. Interest rates are steady and lending is under control since banks are not financing anyone with or without a pulse.  I do, however, think we are at or near the top of the market for the year.  Our local market often feels like it’s crazy hot and then quickly shifts gears in late August as the school year hits and life returns to the usual routine.

My biggest concern regarding the real estate market remains politics and the economy.  While some people are waiting for real estate prices to come down, there are even more people waiting for the stock market to correct or for Trump to seriously stumble.  I believe these issues are hopelessly interconnected and it could take just one challenging political or economic event to activate some of these fears. 

In the absence of such an event, all other metrics remain good.  Employment is solid, corporate profits are high, and Amazon is taking over the world.  Can I just say that Alexa should become a mandatory household item?  As a new Alexa owner, I am totally geeking out on it and my kids are having a great time with all the things she can do, including hurling insults at us through her Meanie app.

In closing, I hope all my clients are doing well.  I want to send a special thank you out to the Howe and Girard families for two great referrals this month.  It is truly appreciated.  If you or any of your family members, friends, neighbors, or church community needs any real estate help, please let me know.  My team and I will take great care of them!  Have a wonderful August and get ready for the return of the NFL!

Sincerely,

Stefan - AKA Mr. Murrieta

 

Posted in Client Letters
July 6, 2017

June 2017 Market Trends Update for Temecula

July is in full swing with the 4th being over and the days starting to really heat up. I hope this market update finds everyone enjoying the summer! In this month’s market trend report, I will be gathering the current numbers from the Temecula real estate market and comparing them to June. As always my stats are based on single family, detached residence, with 3+ bedrooms and 2+ baths.

Number of Homes Currently Listed in Temecula: 261

Average Temecula Home Listed Price in July: $584,839

Number of Homes Sold in June: 225

Average Sold Price of Temecula Homes in June: $491,787

Average Days on the Market: 32

Well, looking right away at the current numbers in July, there are actually a few less homes on the market with 261 homes to be exact. Last month at this time there were 266. The average listed home price in the city of Temecula is $584,839 vs $584,459. Really little to no change in those numbers over the last month. 

When comparing the sold numbers to each other, the number of homes that sold back in May was 172 and in June that number increased to 225. That’s a nice little jump of 30%. The average selling price went up slightly to $491,787 from $481,319. The average days that homes are on the market before being sold is currently 32 days. 

If you or anyone you know is looking to buy or sell a home in the area, please have them give me a call as my team and I are ready to help with ALL of your real estate needs. Enjoy the rest of July and hope you all had a wonderful 4th of July with friends and family! 

Stefan West – AKA Mr. Murrieta 

Posted in Market Trends
July 6, 2017

July 2017 Fun Events in the Valley

 Fun Summer Events in Temecula & Murrieta July 2017

Temecula

4th of July Parade: 

On Tuesday July 4th, head down to Old Town Temecula for their annul 4th of July parade. The parade starts at 10:00am and will be running from arch to arch so be sure to bring your chairs to get a good spot. You should plan to get there early since this event does get pretty busy.

4th of July Extravaganza:

Where the best way to see the 4th of July fireworks display you ask…….it’s at the Ronald Regan Sports Park in Temecula. Get there early and spend the day celebrating with live music, vendors, fun zone for kids, and much more. Stay for the spectacular fireworks show to end the day. The fun starts at 2:00pm. 

Summer Concerts:

All summer long Temecula will be having FREE concerts at the Temecula Amphitheater located at the Community Recreation Center. The concerts will be on Thursday night’s beginning at 7:00pm so bring your chairs and head on over. No pets, smoking, or alcohol is allowed. 

Moonlight Movies in the Park: 

Friday nights in July head over to one of Temecula’s parks for a fun night with a movie in the park. Activities begin at 6:00pm and movies start at dusk. 

July 14th - Temeku Hills Park / Zootopia

July 21st - Harveston Community Park / Toy Story

July 28th – Harveston Community Park / Finding Dory

Shakespeare in the Vines: A Midsummer Night’s Dream:

Saturday July 22nd, Bailey Vineyard & Winery will be hosting this wonderful performance. The show starts at 7:30 and tickets start at $17 for seniors and go up. Be sure to get your tickets now as this event tends to sell out.

Mother/Son Date Night at the Diamond:

July 26th head over to the Lake Elsinore Storm Stadium for a night mother/son evening of baseball. This event fills up quickly so be sure to pre-register. Tickets are $12 per person and include ticket, parking, hot dog, drink, chips, ice cream, and a souvenir for both mom and son. Don’t miss out!

Murrieta

26 Annual Birthday Bash:

On Saturday July 1st, head over to the Cal Oaks Sports Park in Murrieta for their 26th annual Birthday Bash from 2:00-9:00. This event is packed full of live music, food, kids activities, and of course an amazing display of fireworks to end the night. Make sure to get there early for a good spot. 

Paint Night: 

Friday July 21st, head over to Sisters Bottles and Brushes for a fun evening of family painting. There will be light refreshments served and the cost is $20 per person and includes all the supplies needed to paint your masterpiece. Seating is limited so be sure to get your tickets a head of time. Start time is 6:00pm and goes till 9:00pm. 

Murrieta Summer Concerts in the Park:

Music loves, come out for a fun evening of entertainment at Town Square Park from 6:00pm-8:00pm. Bring your chairs, blanket, and even a picnic dinner to enjoy under the stars. 

July 8th – Southbound & Company

July 15th – Midnight Satellites

July 22nd – Midnight Ride

Posted in Local Events
July 6, 2017

July 2017 Client Letter

On the way into work today, I started thinking about those old Beverly Hills Cop movies with Eddie Murphy which struck me as very odd.  Then I realized I had been singing the “The heat is on…” one of the movie’s theme songs for the last day or so.  Yes, the Murrieta real estate market is hot but my subconscious mind was still reeling from temperatures hitting 105-107 degrees in Murrieta and Temecula.  That is crazy!

While the temperature has dropped back down today – thank you so much – the local housing market is still cooking and moving well.  Any single story home reasonably priced flies into escrow.  Also, the entry-level market under $350,000 is practically invisible as any home listed usually goes quickly.

While that is great news for home sellers, we are also now seeing home appraisals often coming in short of offered prices.  In many cases it is very hard to get around appraisal issues depending on the type of loan and appraiser you are dealing with.  In general, no appraiser goes out and tries to sabotage home values, but often buyers will value a home higher than it will appraise for. This can be a very frustrating experience for both parties, especially the sellers.

During times like this, it is important that your agent stridently challenge the appraisal and work to push up your valuation.  While there is a limit on what an agent can do, it is important that they always try.  A challenged appraisal is much more vetted and defended.  So, if it doesn’t change, at least you know it was tested, held up, and you are getting the maximum possible sales price for your home.

Another concerning trend I see is homeowners even more aggressively leaving California for new pastures. While job and military transfers drive normal migration, there is no doubt we are seeing many people leave because of the higher taxes, gas prices, traffic, and a lower stress level environment.  States like Arizona, Nevada, Texas, and Idaho seem to be the most common. 

On that note, if you or anyone you know plans to move to another state - please let me help!  I would love to sell their home and promise I will work exceptionally hard for them.   I will also connect them with a top agent for any US city they are moving to via my broker network.  I will get only the best for them!

Sincerely,

Stefan AKA - Mr. Murrieta

Posted in Client Letters
June 26, 2017

June 2017 Murrieta Market Update

Happy June! I hope all of you dads out there had an amazing Father’s Day! I spent the day with my family swimming and having a BBQ. It was the perfect day of relaxing. In this month’s Murrieta market trends report I will be pulling the numbers for the current month of June and comparing them to May. As always, my stats are based on single family, detached residences, with 3+ bedrooms, and 2+ baths. 

Number of Active Listings: 237

Average Murrieta Home List Price in June: $519,591

Number of Homes Sold in May: 214

Average Murrieta Sold Price in May: $425,535

Average Days on the Market: 27

Taking a look at the numbers, right away I can see that there really hasn’t been an improvement since May. We have actually gone down in the number of homes listed for sale. Currently there are only 237 and last month at this time we had 234. The average listed home price in the city of Murrieta is $519,591 which has gone up slightly from $510,646 in May. Like I said, not much of a change with these numbers. 

Moving onto the homes that are selling in Murrieta, we had a total of 175 from 4/15-5/15 and from 5/15-6/19 we had 214, so a nice jump in home sales there. The average price the homes sold for in May was $425,535 vs April which had an average of $421,001. The average days that homes are on the market has gone down slightly from 34 days to 27. 

I hope you found this information helpful as we head into summer. If you are looking to buy or sell a home or know anyone that is, please send them my way. I always appreciate referrals and my team and I are always available and ready to help you with any of your real estate needs! 

Sincerely, 

Stefan West – AKA Mr. Murrieta

 

Posted in Market Trends
June 7, 2017

June 2017 Client Letter

Salutations from Salt Lake City!  I am visiting for a few days and getting a lot of market research done so I can pass along updated real estate information to you.  While I am enjoying the fair weather, I also get to look around at beautiful trees and snow-capped mountains.  Not a bad way to get work done!

In fact, these stunning mountains with their jagged peaks remind me of our real estate market.  Murrieta home prices are climbing. Over the last two months, many areas of Murrieta have had a VERY nice climb in value.  After doing a thorough evaluation of the market and future closings in the next 30 days, I can report a solid 4-6% valuation growth across most communities in Temecula and Murrieta from 1st quarter pricing.

Why the strong growth?  There is still a shortage of homes compared to buyers wanting to buy.  For a couple of weeks, we had quite a few homes come on the market and start to even out supply and demand. However, when there are communities with six homes in escrow and only two active homes, our turnover rate is superb.  While this is really tough on good buyers, it is excellent for sellers.

Not only is lack of supply driving this, but interest rates remain very low.  They started to climb but strong reactions to the ongoing, contentious presidential politics causes feelings of uncertainty in the market. This uncertainty causes many to invest in the safety of bonds, which often drives down interest rates. 

Overall, the conditions are superb for sellers.  If this keeps up, we may be hitting our highest sales prices of the year in June or July as opposed to May.  Keep an eye on interest rates and the politics of the day.  Those two issues go hand-in-hand and are a huge reason that buyers can afford these higher sales prices.

As always, I am here and standing by if you or anyone you in your family, neighborhood, workplace, or church needs help buying or selling a home.  I promise that my team and I will take exceptional care of them!  To all my military clients – thank you very much for your service as we celebrate Memorial Day in your honor and enjoying the protection you provide us. 

Sincerely,

Stefan 

 

Posted in Client Letters
June 7, 2017

Temecula Valley Events June 2017

Fun Local Events for June 2017

 

Temecula Balloon & Wine Festival- 

June 2nd-4th, head out to Lake Skinner for the annual Balloon & Wine Festival. This event features top-name entertainment/music, wine tasting, arts and crafts, and some amazing food vendors. This is one event this year you won’t want to miss. Prices vary by dates so be sure to go to the Temecula Valley Balloon & Wine Festival for more info. 

Sublime Summertime at South Coast Winery- 

Tuesdays and Wednesdays in June, head over to South Coast Winery & Spa for a treat. For $114 you can enjoy a signature massage or facial and a 90 minute behind the scene wine tour with food pairing. This is a great deal to be sure to take advantage of. Call today to reserve your spot at the spa. 

9th Annual Pechanga Microbrew & Craft Beer Festival- 

On June 10th, Pechanga will be hosting their annual craft beer festival. Here you can taste award winning micro & craft beers. There will also be a chili cook off, live music, and silent auction. Ticket prices range from $50-65 and include a 2oz. souvenir glass for sampling, and chili tastings. 

Temecula Art & Street Painting-

In Old Town Temecula on the weekend of June 9th-11th, the annual Temecula art and street painting will be held. Here you can view beautiful murals that have been drawn with chalk and created by all ages. This year’s theme is “Community Pride”. There will also be local vendors and food to purchase. 

Moonlight Movies in the Park- 

On June 16 and 23rd, head over to the Temeku Hills Park in Temecula for their annual movies in the park. Activities begin at 6:00 pm and the movie starts at dusk. The movie on the 16th is The Secret Life of Pets and on the 23rd is Honey, I shrunk the Kids. Bring your lawn chairs and a picnic dinner and enjoy a great family night! 

Murrieta Annual Father’s Day Car Show- 

On Sunday June 18th, the city of Murrieta will be hosting their annual Father’s Day car show. This event has become a tradition in families throughout the city. There will be of course hot rods for viewing, activities for the kids, and food vendors. Don’t forget to mark this one on the calendar. 

 

Posted in Local Events
May 24, 2017

Temecula Market Trends Report for May 2017

We are fast approaching summer as the weather starts to heat up and the kids are nearing the end of another school year. In this month’s Temecula market trends report, I will be pulling the current numbers and comparing them to what has been selling in the city of Temecula.  As usual, my stats are based on single family, detached residences, with 3+ bedrooms and 2+ baths. 

Number of Active Listings in Temecula: 266

Average Temecula Home Price in May: $584,459

Number of Homes that Closed Escrow Between 4/24-5/24: 172

Average Temecula Home Sold Price: $481,319

Average Days on the Market: 33

Well, it’s no surprise that we have a low inventory of homes currently listed for sale in Temecula. We currently have only 266 listings. This makes it even harder for approved buyers to get offers accepted, as they are competing against multiple offers and often times over asking price. The current average price that homes are being listed for is $584,459. This number has gone up about $40,000 over the last 8 months, which is a 7% increase.

Moving onto what is selling.  From 4/24-5/24, there have been 172 homes that have sold in the city of Temecula.  I can also see that the sold prices have increased a bit over the last few months as well with numbers going from $465,284-$481,319. The average number of days that homes are staying on the market is 33, which is an improvement from 58 back at the end of 2016.

I’m hopeful that we will start to see an increase in the number of homes as we move more into summertime. Now is a great time to buy or sell, so please don’t hesitate to give me a call and I would be more than help you with any of your real estate needs. Referrals are always appreciated too! 

Enjoy this Memorial Day Weekend and to all of our service men & women, thank you for your dedication to serving this wonderful country we live in! 

Mr. Murrieta

 

Posted in Market Trends
May 18, 2017

Murrieta Market Report for May 2017

Who’s ready for a market update for the month of May!!?? I know it’s been a while since you’ve heard from me so I will get right down to it. As always my stats are based on single family, detached residence, with 3+ bedrooms and 2+ baths.  

Number of Active Listings in Murrieta:  243

Average May List Price: $510,646

Number of Murrieta Homes Sold From 4/15-5/15: 175

Average Price of Murrieta Homes Sold in: $421,001

Average Days on the Market: 34

Well, the market has changed quite a bit since last October. We are seeing an unusual low inventory for this time of year. As we head into the summer months, typically we will see more homes listed for sale. There are currently only 243 homes for sale in the city of Murrieta. The average list price of these homes is $510,646. I believe that home prices are at their peak and we should start to see them level off over the next few months. 

Moving onto the closed homes in the city of Murrieta, there were 175 homes that sold from April 15th through May 15th. The average sold price of homes is $421,001. Houses are moving very quickly in this market because the inventory is so low. When something hits the market, we are seeing above asking price with multiple offers. Homes are averaging about 34 days on the market before going under contract. 

If you know someone that is looking to purchase a home or sell a home in the area, please pass my info along to them as I would be more than happy to help. If you would like a market valuation of your home please give me a call! 

Mr. Murrieta

Posted in Market Trends