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Newletter

MID-YEAR NEWSLETTER 2018

MID-YEAR NEWSLETTER 2018

BEFORE I STARTED THIS NEWSLETTER I WENT ONTO MY COMPUTER AND WAS REVIEWING SOME OF MY NEWSLETTER’S OF 2016, 2017, AND FOUND THAT MY PROJECTIONS IN THEM WERE PRETTY MUCH ON “TARGET” SO WITH SOME CERTAINTY I EMBARK TO COMMENT ON THIS OUR CURRENT MARKET AND EVENTS.   AS WELL AS EVENTS UNFOLDING BEHIND THE SCENES THAT WILL AFFECT REAL ESTATE MARKET VALUES and You as Seller’s and You as Buyers for the remaining months of this year.  
   
THE FEDERAL RESERVE BANK HAS AS I PREDICTED CONTINUED TO ADJUST UPWARD THE INTEREST RATES,  NOT SO MUCH AS TO SERVERLY AFFECT NEW LOANS AS MUCH AS THOSE FOLKS THAT USED ADJUSTABLE MORTGAGE RATE (ARM’S) LOANS.   EACH INCREASE HAS CAUSED MAJOR INCREASES IN THAT PROPERTY OWNER’S MONTHLY MORTGAGE PAYMENTS.  PROMPTING THOSE HOMEOWNER’S TO CONSIDER PUTTING THEIR HOMES ON THE MARKET OR SEEKING TO RE-FINANCE TO A FIXED MORTGAGE.   HOWEVER, MUCH TO THEIR DIS-APPOINTMENT THEY HAVE FOUND THAT THEIR HOME MAY NOT HAVE INCREASED ENOUGH IN VALUE OR THEIR MONTHLY INCOME HASN’T INCREASED TO MAKE THAT CHANGE, NOW FINDING THEM SEEKING OTHER OPTIONS.    
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 Being forewarned will give those of you that are “sitting on the fence” a chance to be READY to take advantage of the changes coming and act now!   Buyers can still get a “reasonably” low Fixed-Rate mortgage.”   Property owners are advised if selling is their choice to take advantage of this soon to be slowing demand “market” as we enter this transition period.

THAT BEING SAID, I BELIEVE WE WILL SEE AN INCREASE IN “INVENTORY” AS SELLER’S ARE WANTING TO SELL BEFORE PRICES ENTER THIS DOWNWARD TREND AND WE MOVE INTO A “BUYER’S MARKET.”    MORE FAVORABLE IN HOMES TO SELECT FROM AND PRICES MOVING DOWNWARD TO a MORE AFFORDABLE RANGE IN OUR AREA.   YES, EVEN IN AGUANG/ANZA & SAGE OUR PRICES THE FIRST HALF OF 2018 WERE CLIMBING DUE MOSTLY TO LACK OF INVENTORY.   EACH NEW PROPERTY LISTED SEEMED TO BE “JUST A BIT HIGHER IN PRICE”  THIS IS ABOUT TO CHANGE AS IS BEING REFLECTED IN THE NUMBER OF PROPERTIES LISTED AND THE NUMBER OF HOMES THAT HAVE REDUCED THEIR LISTING PRICE TO REMAIN COMPETITIVE AND AS THE DAYS ON THE MARKET ARE LONGER.

BUYERS, IT IS TIME FOR YOU TO BEGIN TO “POSITION” YOURSELVES FOR THIS COMING SHIFT IN THE MARKET.   BECAUSE OF ALL THE VARIOUS LOAN PROGRAMS NOW AVAILABLE IT IS IMPORTANT TO SEEK AND WORK WITH A KNOWLEDGABLE, EXPERIENCED LOAN BROKER AS WELL AS YOUR REALTOR.  DETERMINE WHEN YOU WANT TO MAKE THAT PURCHASE
OR RELOCATION EVEN BEFORE YOU BEGIN YOUR SEARCH OR START PREVIEWING HOMES.    THAT “Dreams of Homeownerships” CAN BECOME A REALITY IN THE COMING MONTHS IF A BUYER (S) WAITS A BIT AS THE MARKET BEGINS TO OFFER “INCREASED INVENTORY.” AND LOWER PRICES.

AS AN ADDED FOOT-NOTE RECENTLY POSTED IN A TEMECULA NEWSPAPER OF A CLOSING ON A
143,689 SQ FT. INDUSTRIAL BUILDING IN THE “MCA BUSINESS CENTER” ALTHOUGH THE NEW OWNER WASN’T DISCLOSED BY NAME IT IS RELOCATING ITS’ OPERATIONS HERE IN TEMECULA. PROMISING A LARGE INCREASE IN JOB OPPORTUNITYS TO LOCAL RESIDENT’S AS WELL AS INCREASED DEMAND FROM THOSE NEW & RELOCATED EMPLOYEE’S ON THE RETAIL SERVICES ALREADY HERE AND NEED FOR HOUSING.  HOPE TO HAVE MORE INFORMATION ON THIS IN
MY NEXT NEWSLETTER.   A HEALTHY REAL ESTATE MARKET IS REFLECTED BY “JOBS! JOBS!  AND AFFORDABLE HOUSING PLUS AVAILABITLY OF ACCESS & SERVICES.  

WE HERE ON THE EASTERN FOOTHILLS OF THE TEMECULA VALLEY PROVIDE ALL OF THESE THINGS.   SO AS OUR MARKET AS IT USUALLY DOES AUTO-CORRECT’S ITSELF OVER THE LONG- TERM PROPERTY VALUES WILL AGAIN REBOUND.   IN THE MEAN TIME THOSE LIVING UP HERE ON THE “HILL” WILL ENJOY THE SLIGHTLY RE-MOVED “STRESS” OF CITY LIVING.  BE SURE TO PREVIEW OUR MONTHLY LISTS PROVIDED ON OUR WEB-SITE, (www.cristrealestate.com) THESE ARE ALL THE LISTINGS AVAILABLE, NOT JUST OURS.  YOU MIGHT SEE “JUST WHAT YOU ARE LOOKING FOR!   Here you can review and return as frequently as you like, when it is convenient for you. We look forward to any inquires you might have.

SINCERELY YOUR AREA MARKETING SPECIALIST SINCE 1979.

HEATHER R. CRIST, GRI, SRES, ePro.