Man this market has took a huge hit. We have many client's that are buying rental properties in Hemet for low low prices. We actually just picked one up for $131,000.00... A 2005 4 bedroom 3 bath, 2750 sq ft home that is going to be a Rental.You won't find them easy, but Hemet Homes are where you can find some good deals, especially if you have a good agent ;)
The Gambling Cowboy!
I recently wrote a blog on the Temecula housing market. I feel that the Temecula and Murrieta housing market will not be affected as much if there is a double dip recession as many of the other US cities. The doomsday'ers are scaring away potential buyers in our Market, which has already dropped from 50% to 70%. The general news that comes out about housing is subjective to each individual real estate market. So if a news line says that housing prices dropped 5%, people think Temecula housing prices are dropping, when in fact it may be the opposite. It is just interesting how people's minds works.There is not too much more room to decline. How do my fellow local agents feel?BTW: blog is blog.skylarlewis.com
The program is a complete mess right now. Actually every government sponsored program for our real estate market is not working like it should. The HAFA program is starting to gain some traction though.
It's not typically common but sometime if they have 2 different buyers.
1st. Go to the bank and see what you can get pre-approved for.At the bank you are less likely to get charged unnecessary fees which happens more when going to an independent mortgage person2nd. Then find real estate agent that will work for you and not be lazy!
Real estate agent- general term for someone that can help you buy or sell a homeListing agent- the term that you use for the agent that is in charge of selling a house for someone
If you do not have a signed contract back from the seller then it isn't a full offer yet. Your agent should be able to withdraw the offer. Good luck!