Riverside County Real Estate Update – July 2009

Menifee Home

Menifee Home

Inventory is low here in Riverside County, California.  When news reporters report National sales statistics remember that those statistics are averaged for the entire Nation.

 

 

Here in Riverside County we have a unique situation.  Since we are sandwiched between Orange and San Diego Counties we are getting buyers from both of these neighboring Counties who are quickly buying up our lower priced and near new homes.

The nicest properties are having 25 or more offers submitted on them within the first few days of being listed.

The banks are slow to process short sales and this is adding to both the reduction in inventory and also the buying anxiety that is present.

I am getting e-mails and phone calls from people wanting homes and feeling like they are going to miss the boat.

This is due to the fact that the buyers who are submitting FHA and VA offers are getting their offers ignored because the banks are getting so many offers from conventional and cash buyers.  These conventional and cash buyers are more attractive to the banks because they are less risks as borrowers.

The banks want as little risk as possible.  See my article here on Short Sales:  http://janegrant.biz/?p=37

There are a couple of stratagies I have learned to get offers accepted.   Options are available for buyers with FHA or VA no down loans to get them to the top of the stack of offers submitted.   

Call for details about getting FHA and VA offers Submitted and accepted!

 

 

Call us toll free at 866-621-0155, we also specialize in helping “First Time Home buyers” purchase their first home! 

 

 

 We are experienced Real Estate Brokers offering excellent and individualized Customer Service.  If you are looking for Temecula Bank Owned Homes, Murrieta Bank Owned Homes, or if you are thinking of living in the surrounding areas of Temecula, Murrieta, Wildomar, Menifee, Winchester, Fallbrook, Southwest Riverside County, or North San Diego County,  please contact us for a private tour of the area.

 

This entry was posted on Monday, July 20th, 2009 at 9:47 am and is filed under California Short Sales, Riverside County Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

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