Competitive Market

This is technically the first real post on this blog, and the first of many more to come. Just wanted to give a little update on the housing market in the Temecula Valley. These last couple months have really seen an increase in buyers and decrease in housing compared to earlier this year; in my opinion a good thing. I know there are a lot of frustrated buyers out there right now discouraged by the overwhelming amount of offers being received by some of these available properties. We have been hearing stories of 30,40 or even 50 offers being received by agents in only week for a single property. The Mason and Smith team itself has experienced this on a listing we have in Vista. Unlike most agents, I can really feel for the buyer right now, since I am in the process of a looking for a new home myself and have been unsuccesful on multiple attempts. The problem that a lot of first time home buyers are having right now, is going up against investors with cash offers. There may be instances where the buyers have a really strong offer but lose out to to a no hassle cash offer. My advice, keeping pricing your offers right and eventually one will go through. Not every house sold these last few months has been a cash offer, so don't get to discouraged. All and all I view this competetiveness as a good thing, its bringing a little stablity back to our market and also cleaning up a lot of the neighboorhoods that were belmished by the deteriation of vacant foreclosures; along with the fact that eventhough many houses are now going above asking the housing market in Temecula and sorrounding areas still is very affordable.