Temecula is nearly perfect as far as real estate goes. Home value recovery took a minute to get started, but once it did, it shot right up. The kind of value recovery Temecula has experienced is nearly unheard of. With a current average value of over $420,000, values aren’t very far off from their 2007 peak of $481,000. With a steady rate of growth, the gap is continuing to narrow. Homeowners in Temecula should feel very fortunate that the market is smiling at them – provided they can find buyers for their properties.
Temecula’s market is both healthy and warm. Warm markets benefit both buyers and sellers – everyone’s getting a little bit of what they want. Since 10% of home listings will see price cuts, there are still a few compromises to be made. Perhaps one of the best aspects of Temecula’s real estate market is its distinct lack of foreclosures. This is one of the rare areas in Southern California where foreclosure is below the national average, with the amount of foreclosures breaking down to less than one per month.
Temecula almost seems too good to be true. Sellers with desirable properties aren’t having a difficult time, even if they have to wait a little while to make the sale. If you can’t wait or you’ve been waiting to no avail, this is a very bad sign. It could be because your home is significantly damaged or otherwise deemed undesirable. When you have a home that no one on the traditional market wants, that doesn’t mean you can’t sell it – it just means you’ll have to sell it to someone else.