Market Report for Homes for Sale in Temecula - Redhawk, 11-2011
As usually happens this time of year in the Fall, November 2011, the market has slowed as families have tried to have completed their move early before or during the school year, and the holidays approach.
The high Active versus Sold ratio makes the trend a buyer's market, a good time for a buyer to be looking at Redhawk homes for sale in this market.
Notice that the Pending number is high, being 15 versus the Actives of 24. The Pending status of a home for sale indicates that those homes for sale that have a contract agreement in place and are waiting for the paperwork to be finished on the purchase and loan. Homes tend to stay Pending for months at a time as the market in Redhawk as well as surrounding Temecula includes many short sales, where the sellers are asking the bank that loaned them the money to accept "short" of what was loaned; i.e., the sellers bought at a much higher purchase price than the market price for a home now supports. These Short Sale purchases can take a long time to complete, or sometimes a short time if you've got an experienced agent who helps you time the process so that you're not the first buying waiting on a Short Sale and instead are the last who gets the deal and the keys.
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Lisa Delzompo (951-704-4559)
"May your home always be too small ... to hold all your friends!"
CA Dept of Real Estate, Real Estate Broker License #01379811;
NMLS Identifer #331744
REAL ESTATE: www.SandToSeaProperties.com. Covering northern San Diego, Oceanside, Temecula, Murrieta, Riverside County and desert areas of Yucca Valley, Joshua Tree and Twentynine Palms, CA.
LOANS: PRW Lending, Inc. Call direct 951-704-4559, or email me at lisa(@)sand2sea.us
Information is deemed reliable but is not guaranteed. Information is general and may not address your particular situation. Do not rely solely on this or any information you find on the internet. You should consult relevant professionals directly about your real estate, financial, etc., situation.