May 2022 Real Estate Market Update - Temecula, Murrieta, Menifee California

All right. Here is your May 2022 real estate housing market update. We're going to talk about all the stats here locally in the Temecula, Murrieta, Menifee area. We're going to talk about the total number of new listings, total number of active listings, how long the average home is taking to sell and what the current average price point is out here in the valley. So let's go ahead and get into it.


Hey guys. Hey again, my name is Justin Short. I am a realtor and team leader for the Short Real Estate team here in the Murrieta Temecula Valley. We're trying to keep these videos again coming regular for you, and this is our monthly staple. It's a real estate housing market update. So this again is going to be for May 2022. We're going to give you all the stats in the real estate market, talking about the total number of new listings, total number of active available listings, how long the average home is taking to sell and the average price point. So just like the other ones we're going to compare last year, so 2021, compared to this year 2022, and hopefully keep you guys updated on what's going on.


So, first thing though, if you are liking the videos, please go ahead and hit like. Please go ahead and hit subscribe. So again, it helps me helps the channel. Obviously, that's why I'm doing this. I'm trying to continue to grow it. I've had a lot of you guys reach out lately, especially over the last few months. A lot of people that are relocating here or relocating out of the area. Definitely love hearing from you guys. So you can feel free call, text, email. A lot of people will text me and we can set up a time to chat. But hopefully you are liking the videos and giving you some good information. So cool. Let's get into it.

So, first thing we're going to talk about is the total number of new listings. So for the city of Temecula last year in 2021, there was a total of 272 new listings that came up on the market. This year, 2022, there's only 241 new listings. So really, I guess that's like 30, about 31 less listings this year than compared to a year ago. City of Murrieta, so last year there was 323 new listings that came up on the market and then this year there was 317. So really about the same. I mean, there's six less listings. I mean that's not really moving the needle at all. And then city of Menifee, so last year there was 250 new listings and then this year 257 new listings. So actually again, about the same. We had a few extra, which is great. At least we're moving in the right direction there.


The next thing we are going to get into is the total number of active listings. So again, last year city of Temecula, there was a total of 227 active available listings on the market. This year, 2022, there is 224 active available listings. City of Murrieta, last year there's 282 new listings. This year, 307 new listings. So that's not bad, an extra 25 properties that are still available on the market. And then in Menifee last year, there was 239 new listings. This year, 254 available listings.


So the next stat is going to be the average days on market. So the DOM, so just how long the average home is taking to sell. So last year in the city of Temecula, the average home was selling in 12 days. This year, we've gone down to 17 days. City of Murrieta, so last year, the average home was selling in 13 days. And then city of Murrieta this year, the average home was selling in 14 days. So really about the same. Again, you're right there at two weeks. City of Menifee, last year the average home was selling in 12 days. This year we're now at 16 days. So just a couple day trend up as far as a little bit longer. So more or less about the same.


But the thing with the days on market stat is it's a little bit of a lagging indicator. As far as the actual effects on these stats, it can take a month or two to really catch up to what we're seeing in the market. But starting to see a little bit of a slowdown, nothing drastic, but maybe we're trending in the right direction. So the average sales price last year in May 2021 in the city of Temecula was $719,000. This year, the average price point is $837,000. So I mean, obviously that's a ton of appreciation. That's almost $120,000 up that the pricing has gone. I mean, that means you bought a house last year, you can sell for $120,000 more this year. So, I mean, that's pretty incredible. We're going to start seeing those numbers slow down just a bit, but as far as comparing year over year that's pretty incredible.


Last year, Murrieta, the average home was selling for $605,000. This year, the average home was selling for $645,000. So $140,000 swing. Obviously that's a ton of equity. It's great if you own a home, right? It's tough if you're not selling and buying one, because you don't have all that equity. City of Menifee, last year the average home was selling for $482,000. This year, the average home is selling for $568,000. So almost, I guess that's an $85,000 swing. Quick, quick math thing. I'm right. So $85,000 swing year over year. It's still, again a ton of appreciation all across the board. So I mean those are kind of the stats that I wanted to go over with you guys.


As you can see, the stats don't show much of a slowdown just yet. There's still not enough available new listings. The amount of active, available homes is basically about the same, slightly up. And price point year over year is drastically up still. And the days on market still really hasn't really changed. However, so what we are starting to see, so as our team and as are really our office, our brokerage and all the other agents I talk to, we are definitely seeing a lot more of a shift and a slowdown on our end at more of the ground levels. So they may not show on the stats for another 30, 60 days.


But right now, and I can give you a couple personal examples of where we've put some new listings up on the market, three months ago, we put them up, we're going to have 10 offers. It's going to sell $20,000 over list price and it's just not the case anymore. So one of them, it's a great property here in Murrieta. Instead of selling that first weekend with 10 offers, it took us two weeks to sell and we got one offer, almost two offers on it. So that's a big difference. It's still a sellers market. Home is still selling quick, but just starting to see it a little bit of a slow down.


And then we had another one here where in Menifee we put up a really, really nice property up on the market. It's only a few years old, built in 2019, and after one week we just ended up with one offer. So it still sold less than a week. Obviously it's still a great price sold right at list price. But we're not seeing that 20 offer, 10 offer, eight offer bidding war that really bid the prices up. So I think it's going to be a little bit of a sign of what we're going to see from now until the end of summer. Just a little bit of a mellowing, a little bit of a leveling of the market. And so it'll be interesting as things shift just a little bit. So again, hopefully you guys are liking the videos. If you have any questions, you can feel free to reach out. Please like. Please subscribe. Call, text, email me, we'd love to hear from you guys and talk to you soon. Thanks.

April 2022 Real Estate Market Update - Temecula, Murrieta, Menifee California

Hey guys. Hey, so this is going to be your April 2022 real estate housing market update. We're going to talk about average sales price, how long the average home has taken to sell and how much new inventory is coming on the market here in the Temecula, Murrieta and Menifee area. So stay tuned.


Hey guys. Hey again, my name is Justin Short. I am a realtor and team leader for the short real estate team here in the Murietta Temecula Valley. Wanted to make sure keep these videos coming. So we have been doing a once a month real estate housing market update. We're just keeping you guys posted on the newest stats, as far as total number of new listings, total number of active listings, how long the average home has taken to sell. And most importantly, really what's happening, average sales price. So we're going to talk about Murietta, Temecula and Menifee. We're going to get into some of those stats and hopefully keep you guys updated on what's going on here locally. We are just starting to see things change just a little bit. So as we go through some of the stats, I'll also tell you what we're seeing just from our personal side of things and what we're seeing as a team here.


But first, if you are liking the videos, please, please, please go ahead and hit like. Please go ahead and subscribe. Helps me, helps the channel. And if you any real estate questions or anything you guys want to talk about, please feel free to reach out. Have a lot of people reach out to us each week. Love talking with you guys. Love to answer any questions about the area. I'd love to talk with you about your home search or what we can do here to try and help you out. So you're going to see our information down below. Feel free, call, text, email, and would definitely love to talk with more of you guys and to help you through the process.


So, first thing we're going to get into is the total number of new listings. So this is going to be the same format as the previous videos, but quick rundown. So we're going to compare last year's stats. So it's going to be April 2021 to this year, which is April 2022. So last year in the city of Temecula, there was a total 259 new listings that were put up for sale. This year, there's only 210 new listings. City of Murrieta, last year, 271. This year, only 200 new listings. And then city of Menifee, last year there's 210. This year, we're actually seeing a little bit of an uptick. There's 221, so that's a big challenge that we're having, is just still not enough available inventory. Let's go ahead and talk about the next stat.


All right, so the next stat we're going to talk about is the total number of active listings. So active listings is like the available inventory. So it's not just the new ones popping up on the market, but that is going to be if you searching for a home, how many homes are actually currently for sale?


So anything that's gone into escrow is going to be taken out here. So, first thing again, talk about Temecula. Last year, there was 205 total active listings. This year, there's less. There's only 159 total listings. Last year in Murrieta, there was 271 total active listings. And then this year there's only 200 active listings. So Temecula and Murrieta both have significantly less active listings. City of Menifee, we actually see a little bit different. So last year was only 210. This year, we see a slight uptick, 221 total listings. A.


Ll right, cool. So the next thing we're going to talk about is the average days on market. So days on market is how long the average home is taking to sell. So in Temecula last year, the average home was selling in 15 days. This year, the average home is basically the same at selling in 16 days, so just over two weeks. Last year in Murrieta, was the average home is selling in 16 days. This year, the average home is selling in 13 days, under two weeks now. And then Menifee last year, the average home was selling in 13 days. This year, big uptick, we've run up to 18 days. So again, super consistent, super heavy sellers market. And then just to give you guys some pretty good perspective here, so what's like a good average days on market as far as a balance between buyers and sellers market? We're really looking at closer to a four to five months average days on market.


So it could be it's 120 to 150 days. That means there's some decent inventory that's out there,. Homes aren't selling right away, so that just shows you that's considered average. And that's a healthy, balanced market. When we're down at two weeks, super heavy seller's market.


And so the last thing we're talking about is average sales price. So with all the other stats and just if you've seen a news headline time over the last year and a half, market's going up, things are appreciating. But looking at the numbers, that continues to be, pretty strong. So the average home in Temecula last year was selling for $724,000 dollars. This year, the average home in tome selling for $799,000. So knocking on the door at $800,000 for an average sales price, which is just incredible. And then last year for Murrieta, there was average sales price, is 595,000. This year, 685,000. Menifee, last year, the average sales price was 450,000. This year, $556,000. So Menifee, it's over $100,000 swing Murrieta, it's basically a $90,000 swing. And in Temecula, basically a $75,000 swing.


So you can see how fast things are appreciating. So if you bought a home last year in Temecula, your home is probably appreciated $75,000, which that's awesome for you. You have all that equity. But I don't think it's sustainable long term at that, but we have not seen the market really start to ... We haven't seen the stats really start to flatline at all. And so one of the things I did want to talk to you guys about is what we are starting to see on a day to day basis. So over the last few weeks, and there's been a lot of headlines about the fed raising the interest rates that's caused mortgage rates to raise. The mortgage rates have really gone a lot higher over the last couple of months. They've gone almost a 2% swing.


So they were down right about 3%. They're up to about 5%, which is still it's a historical low as far as what the average interest rate is. But it's a lot higher. 2%, it's a big jump compared to what it was a couple months ago. So we are just now starting to see things flatten out just a little bit. And what I don't know, and it's hard to say, is if that is a short thing where it just ... Buyers have like this ... There's this shock from seeing that 5% number as the rates get so high, or if it's really indicative of the rate's high enough that affordability's an issue and things are really going to flatline. Anyways, I hope that helps you guys out. Hopefully gives you good perspective. If you want any more information on the market, feel free to reach out. Call, text, email. Again, we'd love to hear from you guys and love to help you in any way that we can, so hopefully talk to you soon. Thanks.

What's New In Murrieta California? Things Are Changing!!

All right, if you are thinking about making a move to Murrieta, California, or if it's been on your radar and you just want to know some more information about the town, or if you live here and you're curious how things are going to be changing in the near future and what the plans are for the city and some of the new stuff that's coming to town, watch this video. We're going to get into all the details. We've got a chance to chat with some city managers, and I think it's going to give you guys a really good perspective on what's happening in town.


Again, my name is Justin Short. I am a realtor and team leader here for the Short real estate team. We're here in Murrieta, California, and we work here locally in the Temecula, Murrieta, Menifee area, and some of the surrounding markets. We're trying to keep these videos coming regularly for you. And today, want to talk to you about the city Murrieta and really what's coming in the future. We had a chance to go to a meeting with some of the city managers here in the area. That's city of Murrieta, city of Temecula, city of Menifee, Lake Elsinore, and Wildomar as well, and really got a chance to hear from them about what their plans are for the cities, what infrastructure is coming to town, some of the things that they're proud about and really how the cities are going to be changing here in the next couple years, and what's coming down the pike.


So really wanted to take some time to create this video. Hopefully it's going to be good content for you, especially if you're from out of the area, or if you live here and you just want to know what's going on. So first, if you're liking the videos, please, please, please go ahead, hit like, please go ahead and hit subscribe. Helps me, helps the channel. Obviously I'm trying to grow it. I've had a lot of people reach out to me lately. Love hearing from you guys, of course, glad to answer any questions you may have or help you with your home search or selling your property. So you're going to see our information there at the end. Feel free to meet you at any time, call, text, email, and we'll get into all the info here. So again, we're talking about Murrieta. We are going to create a couple other videos for the city of Temecula and the city of Menifee.


I think it's going to be really good perspective just from the city managers. It's a bunch of realtors in a room hearing these pitches from the city managers and getting a chance to get a better understanding of what's happening and where the cities are headed. So again, this one's all about Murrieta. So some of the cool things they talked about. So first, I didn't realize the city has been around so long. So it's actually, city of Murrieta just celebrated its 30th birthday. So they're pretty proud about that. And another big stat, and this is definitely much more of a bedroom community, I don't think it's a shocking revelation at all for anyone that lives here to realize that, but 70% of the city are actually homeowners. So that's huge.

That just shows you how many people are owner occupied homes. And that means those are 70% of people that have a little bit more pride of ownership, trying to take care of the property, cautious about property values in the area and want to keep the area in good shape and looking nice and good for the foreseeable future. So the median age to someone in the city of Murrieta is actually 37 years old. And right now the city's looking to grow. So they actually have 7,000 housing units that are being developed right now. Those are probably going to be released sometime in the next five to six years is the timeline they gave us. But it just shows you a lot of growth. A lot of times we think of this city, that it's kind of built out or close to capacity, but they feel like they have quite a bit of room.


And they're hoping to add 7,000 housing units over the next handful of years. So that's a big plus. And then, as far as the school district goes, they're pretty proud that they actually hold the highest graduation rates in the county. So in the county of Riverside, Murrieta has the highest graduation rates. That's a pretty big statement because Temecula's got awesome schools too. I know that's something they're super proud of and really what they're going for and their vision as a city from a city perspective and the city manager is they really want to have a unique lifestyle with some really fun things to do here in town, in the surrounding areas, but still have a small town feel with the big city amenities. I think most people that live here probably feel that now. You don't feel like you're in this big, massive city, but they have all these amenities here locally or within a very, very short distance.


They have now five hospitals in the city of Murrieta, which is a huge thing. And they are now the third safest city in California so that's again a big stat. I mean, if you have a family or if you are cautious at all about safe areas, I think living in the third safest city in California's going to be a big plus for sure. And this is actually the only city here locally that has their own fire department and their own police department. Most of the other cities are tied in with the county. So the Riverside sheriffs or CAL FIRE, but Murrieta is the only one that has their own both police department and fire department, which is cool.


And recently over the last couple years, one of the city's big goals has been to do a lot more community events. Unfortunately, that really got sidetracked going through COVID where the events really just couldn't happen, where a lot of restrictions, and I'm sure a lot of people just didn't feel comfortable going out and about for a while there. But now that it seems like we are getting closer, we're somewhere near the end or closer to the end. And more back to normalcy, I guess depends how you feel about that, but we are two years in now to the pandemic and hopefully we are getting back to more of a normal lifestyle. They're really trying to ramp up those events. So they have a couple things. They have a new amphitheater that I believe last year was the first year that was open. So they're doing little concerts and get togethers there, a lot of different holiday events. They are now doing a 4th of July bash for the city, which they've done for a while now.


They have a Santa sled that comes around on a fire truck at Christmas time. You'll see in town some of the different neighborhoods have stars on the asphalt and that's where Santa parks and all the kids can come up and take pictures and do all that good stuff. And then they have a ton of biking and hiking trails. There's actually 52 parks in the city of Murrieta and there's over 1,300 acres of trails and open space. Those are things that they have by design that they want to keep to kind of give you that small town feel. And then as far as what's coming soon and what's coming in the future, there's a handful of things that the city is pretty proud of. So number one, they have a new wet labs center that's coming to Murrieta over on the west side.


And I didn't know what the heck wet labs were, but I looked into it and now I do. So wet labs are, it's like kind of a science research area where they can do a certain type of experiments and a certain type of research to really grow and have some new technology. So I think that's a pretty cool thing. It doesn't seem like you've had anything like that here recently so I thought it was kind of cool. They have new medical centers that are coming in. The new Amazon fresh is coming to town. I think it's going to be opening sometime over the next couple months. And that is the first in Riverside county which is pretty cool. So it's an Amazon fresh. They have a new Home Depot that they're hoping to open pretty soon and there's a Costco.


So there's already a Costco in Temecula, there's a new Costco opening in Murrieta. They just poured the slab here recently and they are hoping to open by June. I don't know if that's quite going to happen, but I assume sometime over summer Costco will be open and everyone's pretty pumped about that. And hopefully they'll be a lot shorter lines at the other surrounding Costcos too. So that's been a big thing here locally. There's a Crumble Cookies getting ready to open. And then in our downtown area, so old town Murrieta, they are really, really trying to revitalize that and get that going. So there's a handful of restaurants right now. I think there's six to eight restaurants that are currently open. A lot of them are newer in the last couple years. They have cool menus, cool drinks menus, all types of different stuff, and they're trying to do just more events and get more things going.


So they have like an open mic night, I think that they do at the amphitheater there. They have the Belching Beaver, there's a brewery maybe down in San Diego. They just bought one of the restaurants there and they're building a whole new restaurant and it'll have a whole bar area to be doing the brewery there. And then one of the newest things is they just approved a new multimillion dollar soccer complex to go in Murrieta. That's going to be the Los Alamos sports park. And so that should be, supposed to be breaking ground, I think later this year is what I saw, but that'll be good for in the future and have a hopefully improved soccer program and give kids more places to go there which is pretty cool. So that's kind of the new stuff that's going on with Murrieta.


It seems like they are really hoping for a lot of growth over the next couple years. They are again, trying to add more amenities and still keep that small town feel. And you know, hopefully that gives you a good perspective if you don't live around here or if you do, hopefully lets you know where things are headed. So if you have any questions, you can feel free to reach out any time. You can see all of our contact information. And please go ahead and hit like, please go ahead and subscribe and talk to you soon. Thanks.

What's New In Temecula California? Things Are Changing!!

All right. If you're thinking about making a move to Temecula California, or if you're just curious about the city of Temecula, or if you already live here and you want to know how things are going to change over the next couple years, where the city's headed and what's going to be happening here locally, watch this video. We're going to give you some good info of what's going on with the city, what's going on with the city planners and how the town's going to be changing.


All right. Hey guys. Hey again, my name is Justin Short. I am a realtor and team leader here in the Marietta and Temecula, California area. We're trying to keep these videos coming for you regularly and today we are going to talk about the city of Temecula and how it's going to be changing over the next couple years, what the city managers are trying to get done, that the mayor's trying to get done, and some of the big infrastructure coming in, and actually what I think are some pretty cool stats.


So we're going to get all the info, but first, if you're liking the videos, please, please, please go ahead and hit like. Please go ahead and hit subscribe. Helps me, it helps the channel. I've had a lot of people reach out to us lately and of course would love to answer any real estate questions you may have. Or if you're thinking about making a move to the area, or of course from the area and want to sell your home, we'd love to chat more with you about that. You're going to see all our information. You can contact us. You can call, text, email. Whatever works for you and you're going to see all our information there at the end as well. So please hit like, please hit subscribe and we'd love to hear from you.

So let's go ahead and we'll talk about some of I guess the info here. So we're going to talk about Temecula, California. So what happened for me, it was actually a pretty cool opportunity. So our team, we got to go to a city managers' meeting with all the city managers for the local cities. So that's Temecula, California, Marietta, Wildomar, Lake Elsinore, and Menifee. We got to sit and hear basically speeches by each city and kind of pitch the towns. They're talking about what infrastructure's coming in, what plans are getting approved. What's not getting approved, new construction, some commercial stuff, all types of good information. For me as a realtor, it's really good info to be able to pass on to clients, especially people that don't live here and want to know kind of what's going on.


So first thing we are... This video, at least, we're going to talk about city of Temecula. We're going to make a few others talking about Marietta and Menifee as well. But I think it seems like a lot of really good stuff come in here locally and I think the area's going to continue to grow. So first thing is actually some really cool stats from Temecula and I know we've mentioned this in a lot of the other videos, but the biggest thing about the city of Temecula here locally, so it is the most expensive city to live in. Yes, for sure highest price point. Yes.


But one of the big factors to that is it's a city that has the most economic power. It has the most amount of businesses. It has the old town area. It has the wineries, it has the casino, it has the mall. It's got the most shopping and even the most small individual restaurants kind of trendy, individual privately owned restaurants too. So it's got the most business here in the area and you're going to see... I think that seems like something that the city's really pushed and there's a reason that they have really gotten to that place.


So some really cool stats is the city of Temecula... I didn't realize what a tourist destination it's really become. We have a lot of people coming to the wine country all the time. People make trips from all around the nation and a lot of bridal showers or bachelorette parties and all that type of stuff. But there is now 3.14 million visitors to the city of Temecula each year, which I thought was a ton. So, I mean, back when I moved here again over 20 years ago, I mean, it felt like we were getting 2,500 a year. It was not a destination at all. So the area's really changed quite a bit and the city's really driven a lot of that. Of course, wine country has helped and it's been very purposeful, but that's a lot of economic influence coming in. A lot of people coming in as tourists want to spend money, checking out the area and it's an attraction now which is cool. So it's really attracting, especially for a lot of people here in Southern California.

So part of that, they also have been now ranked as the 20th safest city in the United States, which is awesome. I think in the last six years, they've been on the top 20 list. So that's a huge plus. City of Marietta is right there as well. They're actually ranked a little bit higher, but very, very safe area. Temecula is now starting to win some awards really. So they've won some awards for the top weekend trips in the country, some different awards on some magazines and people that rate those type of things, which is cool. So just more notoriety and they now have four of the fastest 5000 growing companies in the nation are based here in Temecula. So that's a big thing that's always been a challenge for there. Just on a ton of big business. So with those companies, they feel like they're a pretty good sign of what's to come and how things are really changing.


There's some pretty cool stuff that's happened over the last couple years. So they now have the junior college here. The MSJC, Mount San Jacinto campus has now expanded in the city of Temecula. So that's been a big thing. We have the casino, so Pechanga Casino is now ranked. It's the top ranked casino in Southern California. So that's a big plus. One stat that I think is pretty telling is... And this is different than these surrounding cities, but city of Temecula, 45% of the income that the city receives is actually from sales tax. So what that means is most of these cities around here, they're bedroom communities, people live there and commute out. So most all the income is tied into property tax. So as property tax value comes in, the tax values to the city that the city receives go up.


But Temecula's kind of the one outlier and the oddball in a good way where 45% of the income that the city receives is from sales tax. So that's from tax at the casino or whatever. I don't know what exactly is paid at the casino, but so tax of the wineries, tax of the old town areas, tax at the mall from the dealerships, and that's a big revenue source that a lot of those surrounding cities don't have. Then they were pretty proud that as far as just keeping the city clean, that 90% of the graffiti is removed within 24 hours. So I have no idea how they get those stats or who tracks those, but that's their claim to fame.


So, I mean, those are good things and there's just kind of good things that the city wanted to brag about, which I thought were pretty cool. I've lived here a long time and those are things that were not always true 10 years ago, 15 years ago, 20 years ago. So I mean, the city's definitely changed and it's going to continue to grow which I think is pretty cool. There's some cool things coming down the pipe too. So as far as to the city of Temecula, one of the big issues is always going to be traffic and just the area has grown so fast. So many people coming here and so many people commuting here and also to some of the surrounding cities that we talk about all the time, but there's a lot of infrastructure that's getting ready to come in which is great.


There is the French Valley expansion, which is off of the freeway. So which is there's off of Date Street. So right now when you're coming up to 15 Freeway, you have an exit off of Temecula Parkway. You have an exit off of Rancho California Road, an exit off of Winchester Road and just North of that, they're working on the new off ramp, which they're going to call it, I think it's called the French Valley Express. But it's going to be right off of Date Street, which is connected to dealerships and Marietta on the left side, connect to some of the new dealerships on the right hand side. Where the Mercedes dealership is in Temecula and on the Date Street, which is going to try and be a thoroughfare to connect people out to Winchester Road. So that's going to be a big thing, just the off ramps and the freeway in general has just got so much pressure with all the cars coming in. With the new infrastructure coming I think it's really going to help things and that's what they say, and they're experts. So I think it'll be good.


Then they are actually adding an extra lane to the 15 Freeway as well. So from South Temecula, so from Temecula Parkway all the way through the freeway interchange, the 215, they're going to add one extra lane. So that's going to help as far as keep some of the pressure off the freeway. So that'll be great. It's actually the one thing that someone said the whole way there for a couple hours and then it got an applause from the entire crowd. So everyone's pretty happy about that. Then they are also going to expand the South Temecula off ramp for Temecula Parkway, and they're putting in another expansion that's going to help me personally, where I live off of Nicholas Road. So right now Nicholas Road, it's off of Winchester Road.


It's kind of a smaller road and it gets a little windy and they're actually going to expand that to make it more of a true straight shot into the Northeast section of town over to Butterfield Stage. So I live in Summers Bend, it's a newer community out that way. It's just going to make it more accessible. It makes it easier drive and probably take some traffic out of some of the other parts of town. So I think those are pretty cool things and it was really a cool meeting for me to get to see what the city planners are trying to do, what their goals are, where they are trying to head with the city. The things they're kind of beating their chest about. They're proud about and I think those are ultimately things that affect us as we live here and hopefully things we can learn to, or be able to enjoy more.


So hopefully the information helps. We're going to talk, do a couple other videos, talking about Marietta, talking about Menifee as well, and hopefully give you guys a good perspective there. But again, if you have any questions, you can feel free to reach out. If you're liking the videos, please go and hit like, please go ahead and hit subscribe and hopefully talk to you guys soon. Thanks.

March 2022 Real Estate Market Update - Temecula, Murrieta, Menifee California.

Hey, guys. Hey. Again, my name is Justin Short. I am a realtor and team leader here for the Short Real Estate Team. We are in Marietta, California. We work here in the surrounding areas. So city of Temecula, city of Marietta, city of Menifee, and the surrounding valley.


We are keeping these videos coming. We've been doing, once per month, a real estate housing market update. So this is kind of more of a stats video, where we're going to talk about average sales price, the total number of new listings, how many available listings are on the market, and how long the average home is taking to sell.

First thing I want to do. If you are liking the videos, please, please, please go ahead and hit "Like." Please go ahead and hit "subscribe." Helps me, helps the channel. We're obviously trying to continue to grow it and I've had a lot of you guys reach out lately. First, thank you so much. I appreciate the reach outs. I appreciate you guys considering us to help through, whether it's your purchasing or buying. Obviously, that is how we earn a living. So we're grateful for that. If anything we can do, you can feel free to reach out. You can call, text, email. We'd love to hear from more of you guys, of course.

And as far as videos, we are going to keep the videos coming. So hopefully it's once per week. It's not just this market update video, but we're also going to give information about the city of Temecula, about the city of Marietta, about the city of Menifee. Good neighborhoods, bad neighborhoods. What part of town you might want to live on, what part you don't, pros and cons, and hopefully all types of different stuff for you. Again, if you're liking that, please go and hit "subscribe" and you will see more. Cool.

Let's go ahead. We'll get into some of the stats here. So what we're going to do is this is for March 2022. We're going to compare stats from today compared to a year ago. So this would be March 2021. And let's think back a year ago. I mean, that was a super, super heavy seller's market. We were really coming out of a lot of the pandemic stuff, a lot of the COVID stuff. The real estate market was just starting to really get on fire. And we've seen that over the last 12 months, and it hasn't really stopped. So we'll go over some numbers here. But that's kind of point of reference of what a year ago looked like.

So the first thing we're talking about is the total number of new listings. So this year in 2022... there we go, make sure I'm the right place. Okay. So this year, 2022, there are 171 new listings on the market here in the city of Temecula. And we're going to compare that to last year, there was 186. Putting in perspective, so last year there was a super heavy sellers market, there was not enough inventory, there was a ton of buyers out there, not enough homes to choose from. This year, still a competitive market. And there's actually 15 less homes for sale. So 15 less homes going on the market I guess, is the right way to say that. You can see it, just from a heavy seller market that trend's going to continue. So that's city of Temecula.

City of Marietta this year, there's 245 new listings going up on the market compared to last year, 238. So really about the same. There's seven new listings. So city of Menifee. This year, there's 197 new listings on the market compared to last year. There was 225 new listings.

The next stat is total number of active listings. So active listings are how many homes are actually available for sale. If you wanted to look at homes in Temecula, how many would you get to pick from? So that's from $300,000 condos all the way up to $2 million mansions. So this is again the whole market. So right now, there's 155 active listings in the city of Temecula. Compare that to a year ago there was 196. So again, there's even less inventory today than there was a year ago when it was a super heavy seller's market. City of Marietta, this year there's 207 listings available on the market compared to last year, there was 237. So 30 less homes on the market. City of Menifee more of the same thing. This year there's 195 homes on the market compared to last year there was 213.

So the next stat we're going to talk about is the average days on market. So what that means is how long the average home is taking to sell. So if you take up all the homes that are selling and you average them out, some are going to sell in one day, some are going to sell in 90 days. But if you average them all out, how long is the average home taking to sell? So right now, city of Temecula, 18 days the average home is taking to sell. Last year, we were actually up to 20. So basically about the same a couple days longer last year.


Marietta, 21 days is what we're down to on for the average days on market, last year it was only 26 days. So slightly longer, more or less same trend. This year city of Menifee, the average home was taking 25 days to sell. And last year it was 19. So that's the only stat that is really cooling down here for Menifee. But other than that, really across the board, you can see homes are selling super quick. We're still seeing that seller's market.


And then average sales price. They're starting to become bigger and bigger numbers, but the average sales price for the city of Temecula was $732,000 right now, it is currently. $732,000 compared to a year ago, it was $695,000. So its little over, I guess, about almost $40,000 swing, which is not as such a drastic swing as we have seen over the last year. So year over year, we're starting to see where those prices really jumped up a year ago. Yes, prices are up year over year. I mean, 40 grand is a lot for an average sales price, but there was awhile we're seeing a hundred grand, 120, $130,000 swing. So we're not quite seeing that drastic of a number as we're getting into a year ago stats, which was kind of peak season 2021.


City of Marietta, right now, the average sales price is $684,000 compared to a year ago, it was $617,000. So again, you can see that's gone up still quite a bit. That's gone up almost $70,000. City of Menifee, the average sales price is $533,000 compared to last year it was $438,000. So that's a ton. I mean, that's 95,000 that the price is raised. So that's a big difference, but you are starting to see as we are comparing against a year ago when the market was so nuts that the average sales price, isn't such a big difference compared to what we saw a couple months ago. But I mean, those are the stats. That's what's happening.


And then just from like our side of things. So as a realtor, as a real estate team, obviously, we have a lot of clients that we're working with. And so we have, I think, a pretty good perspective on the market and kind of what's going on. And to us, we are seeing homes selling super quick, and it's super competitive. Most of our listings that we're getting, we're anywhere between five to 10 offers. It seems like on the other side, any buyers that we're working with, we're seeing multiple offers as well. One of them we had over 20 offers, I mean, that was a pool home, so it's more of a unique property. But I mean, super, super aggressive prices selling way above list price. So I think you're going to start to see that average sales price continue to go up.


It's a competitive market. We have started to see the interest rates rise. So the banks are raising up the interest rate. I think they're really trying to calm the market and really kind of mellow things out. But right now there's just still so much demand. Where it seems like a lot of people are trying to jump in, maybe before the rate gets too high. So maybe a lot of people on the fence kind of motivate it to get something done.


But, right now, ton of buyer activity, still not enough available homes for sale. I mean, you saw the stats earlier. Just not enough new listings, and it's competitive. So at the same time, I mean, we are having a lot of success with our clients, with the right guidance. We have to be aggressive, but we're able to get their offers accepted, and you will have options.


So that's kind of a big concern of people that have reached out to me lately is, "Hey, we know it's a hot market. We know it's a seller's market. I mean, can we buy a house?" And the answer is yes. So it's tough. It's competitive. We got to be on it. We got to be quick and we got to really work for it. But absolutely. I mean, that's definitely something that you can do. We can help you get your offer accepted, and of course, would love to help you if you guys have any questions.


But again, hopefully, you're liking the videos. Please go ahead hit "Like." Please go ahead hit "subscribe." You're going to see all my info. Call, text, email, and hopefully talk to you guys soon. Thanks.

If you're thinking about buying a home in 2022, watch this video.

If you're thinking about buying a home in 2022, watch this video. We're going to talk about if that's a great idea, or if you should just turn around and wait for the market to crash first. So let's get into it.


Hey guys. Hey again, my name is Justin Short. I am a realtor and team leader for the Short Real Estate Team here at Murrieta, California. I wanted to make sure we're keeping these videos coming regularly for you and today, I wanted to talk to you about, really a question I'm getting asked a ton right now, and that question is, should we buy a home now or should we sit on the sidelines and wait for the market to crash and buy it at a discount in the future?


And that's really a tough question. I think that's really everyone's concern with how much pricing has gone up, especially the last couple years, since COVID really, and really for a long time now we've seen the market appreciating go up, up, up and up and people get curious, they get cautious, they want to know, are we at the top? Should we be stopping? Should we be pausing, so we don't get in over our head?


So, we're going to go over some different stats, give you my opinion, my perspective, and hopefully give you some different things to consider. If you're thinking about now is the right time to buy or if you should wait. So, first before we get into all the info, please, go ahead and hit like. Please, go ahead and hit subscribe. If you're liking the videos, we're trying to keep them to come out constantly for you guys. It helps me. It helps the channel. We're trying to continue for that to grow. And of course, if there's anything myself or my team can do to help you out with the real estate side of things, we'd love to chat, love to help you. We've had a lot of people reaching out, text call or email to us lately and would love to hear from you. So, please don't hesitate and would love to at least be research for you or answer any questions that you may have, especially if you're thinking of moving to the area or moving out of the area.

So, we're going to talk a little bit, we'll go over some stats. And first, I guess, kind of a disclaimer up front, I'm going to talk to you a lot about my opinions. I'm talking about some facts, yes, on some trends and some real data that's out there, but I'm going to tell you really a lot of conjecture on what I think is going to happen in the future. And really the disclaimer is, no one knows for sure, I'm not a fortune teller. I do not have a crystal ball. I do not know without a shadow of doubt, what exactly is going to happen in the real estate market in the future?Nobody does. And if they did, they would be filthy rich. We would have predicted the crash, back when that happened and rode the wave all the way up. So, no one knows for sure, but I can definitely give you my opinion.


All right, so we're going to talk about the reasons why I think it is a good idea to buy a home. So, number one is, the interest rates. So, right now the interest rate historically low, they are starting to trend up, yes, but when we have low affordable rates, that affects what your mortgage payment is going to be. So, as rates are so low, I think it's a great time to lock into a low interest rate, because I think over time, you're not going to be able to do that in the future, that's really what we're expecting.

The fed has really announced that they're going to be raising interest rates. They've really already started that process right now, it's February 2022. They've already started raising the rates, which is affecting the interest rates on mortgages, and that's going to continue. So, we expect to see the rates trend up closer to the 4% range. And at some point, maybe even a little bit higher, but we're going to continue to start to see rates climb. And so, I think it's a good idea to lock into a lower rate now than a rate you're going to be able to get, into the future. So, and we know that it's going to go up because that's what they're telling us.


So, number two reason that I think it's a good idea to buy a home right now is, we are going to see so much inflation over the next, probably year to two years. So, for those of you that don't know, as we're going through the COVID and all this different stimulus money that was generated by the government, the government printed a lot of money. They gave money to most US citizens, everyone got those deposits right into their bank account. Well, that's a lot of money that was printed, and so the stats are, out of all the dollars that are in existence right now, actually 40% of the dollars were printed within the last 24 months. So, what that means that 40% of the money that's out there, is brand new money over the last two years. And so, what that means is people have 40% extra dollars. Literally they're just extra dollars that are out there. So that means they have more money to be able to afford things, that is why we're seeing this inflation.

People have these extra funds and they're spending it. And so, when you see the money that the government has printed and produced out there, that's why your gallon of milk is costing so much more. That's why your gas is costing so much more. That's why rent is going up so much more. That's why cost of houses are going up. There's just overall inflation in the economy. The stats that just came out, right now is actually, there's a 7% at inflation over the last 12 months. And that's part of the CPI. So, because of that, those are not stats that we're expecting to change at any time soon, you're going to continue to see that inflation and that's a lot of inflation, your dollar's worth seven cents less than it was a year ago, and that's going to continue to trend that way.


So, why I think that matters to real estate, is when prices go up, you want to have your money into an asset. Real estate, a house is an asset. So, as those prices have gone up, when you're invested in a house, that means that value of that house has gone up. So, you've kind of rode the wave with the inflation rather than just having your dollar sitting there, which is actually losing money. So, that's one of the reasons I think it's a great idea to be able to buy a home now, while all this inflation is going to be happening.


The other thing that's out there, is there's just not enough inventory. So, because of the available homes for sale, there's a lot of demand right now because interest rates are very low, people have a good chunk of cash to be able to put down, to be able to qualify for these homes, and so they want to buy, they want to buy a home, they want to move. Obviously, there's a lot of migration as everything was going on with COVID and people were setting up their roots in different places but, as they have this ability and there's just not enough available inventory, there's not enough available homes to choose from, that's a supply and demand. There's a lot of demand. There's not much supply and that's causing pricing to go up. And that's going to continue. We really don't have a true path to more inventory, right now. That is not something that people are foreseeing. There's not a chunk of homes that are getting ready to come up on the market.


So, while the demand's going to stay high, the inventory and the supply is going to remain low and that's a really good trigger and a really good predictor that home values are going to stay up and probably continue to trend up. So, hopefully that gives you some perspective from me, at least. Now the other side of that is, a lot of people are really, really worried that pricing has gone up so high, that what goes up must come down. Eventually, the market is going to crash and there's some truth to that, but it's a matter of when and how that's going to happen. So, right now, just the overall fear for of people is, it's been so long. It's been 12 years of up, up, up and up. And especially over the last 24 months since COVID happened.


But here's really the truth is, I deal with these home buyers and home sellers every day. We get a chance to look at the structure of how they're purchasing, how much money they're putting down and how things actually look. And right now, the market is a lot more stable than it was back in 2005, 2006, where that was just a lot looser real estate market. Right now, people are putting a lot more money down. So, most of the people that we're seeing are anywhere from 10 to 20, 25% down, and sometimes more. 50% are all cash purchases. There's not a lot of people that are getting in with low down payments. And so, people have big chunks of equity that they're putting into the house. So, which means, that's causing them to have a lower payment, even a higher price, actually a little bit lower payment there.


And we don't have a lot of these loose lending practices that were in place 15 years ago, 16 years ago, and everyone knows the joke if you can for a mirror than you can get a loan. Or a lot of these seeded income loans, or just kind of BS loans and loose lending practices, those just aren't out there anymore. So, the lending practices are a lot more stringent and a lot more tighter and people have to be well qualified. They have to be in the right debt to income ratio. And the lending practices are so much tighter where people have to be able to afford the mortgage. And that's a good thing, that really protects everyone, and that's one of the things that's helping keeping the housing market afloat is, we don't have all these bad loans that are out there. They're good loans. They're well qualified people that are putting a good chunk of money down and that lends to a more stable market.


So, the next thing we want to point out is, there's not a lot of no money down, not a lot of the stated income loans. We kind of hit on that. And the next thing is, there's just the total amount of home buyers that are out there. So, we've talked how there's just a lot of demand, there's a lot of people that want to buy homes, right now. And that's because of one, they've had some stimulus money coming in, they've been able to save up some cash. Maybe they've sold another house, so that's built a lot of equity over the last few years. And, another big thing is there's just so many home buyers.


And the reason for that is, it's the whole millennial generation. So my generation, I'm 33, I was born in 1988. And my whole generation now, is kind of going through the same phase of life that I am. So, they have young kids, they're looking to set up roots, and when you do that, they want to nest, they want to have a solid place to be able to stay and raise their family, and as they're going through that process, they want to buy a home.


Well, that millennial generation, it's actually the biggest generation ever. So, it has millions more people and millions more potential home buyers than what the previous generation, which is generation X. So, because of that, there's just so many home buyers coming down the path that are now able to get qualified. They have good paying jobs, they're working remotely, and they are now able and willing to buy, so that's more demand, because it's just a bigger amount of people, more people that want to move and want to be able to buy a home.


Last point there is, there's just still so much demand. So, because of the amount of people that are coming in and really just the amount of people that want to live in this area, specifically, where you can live in a relatively affordable part of Southern California. If you want to live in Southern California and live in a nice community, there's not really a lot of options under a million dollars. If you're going to live in San Diego County, for probably a pretty decent area, it's going to be over a million dollars. You want to live in Orange County, a decent area is going to be over a million dollars.

And if you're going to live in LA County, a decent area's going to be well over a million dollars. So, to live here in South Riverside County, to live here in the Temecula Murrieta Menifee Valley, basically almost all the homes out here are under a million dollars. The average price point in Temecula is under 800,000, average price point in Marietta is under 700,000. And the average price point in Menifee is under 600,000. It's so affordable out here compared to some of the surrounding areas, I think that's really going to continue to make this area desirable. And that's another reason you're seeing just so much demand. It's been years now of just super, super strong buyer demand and that's continuing to push the market. So, I know I give you definitely some opinions from me there. I hope that, hopefully there's some good stats and good information in there.


And, although it is my opinion, yes, I do think it's a well-founded opinion. I think I have pretty good perspective on what's going on. I think, we're in the market every day we can see what's happening, we can see the buyers that are coming in, we can see how well they're qualified, we can see the trends, and that's why I really think the market's going to continue to appreciate, the market's going to continue to go up for the foreseeable future. Is it going to happen forever? No, of course, there's going to be a correction. There's going to be kind of your normal cycle, your up and down, but right now I can tell you personally, I just bought a house over the last few months. We've moved from Murrieta to Temecula, moved like a mile down the street, but we wanted a little bit bigger yard.

So, we just bought a home, and we are actively looking to buy another property as a rental property. So, for myself, those are my beliefs and where I think the market's headed. And I think it's a good idea, that's what I am actively doing myself. And hopefully just give you my perspective there.


So, hopefully you're liking the videos. If so, please go hit like, please go hit subscribe. If you have any questions for me, you can definitely reach out to me, call, text, email. Myself, and my team would love to help you answer any questions you may have and hopefully as are liking the content and let me know in the comments, what your thoughts are. So, have a good one. Thanks.

If you are thinking about making a move to Temecula, California, watch this video to make sure you know what neighborhood you want to move to, what part of town is best for you, and where you don't want to live.

All right. If you are thinking about making a move to Temecula, California, watch this video to make sure you know what neighborhood you want to move to, what part of town is best for you, and where you don't want to live.


Hey, guys, hey again. My name is Justin Short. I'm a realtor and team leader here in the Temecula-Murrieta area with the Short Real Estate Team. Again, wanted to create another video for you guys and talk to you a little bit more about the city of Temecula. Like we mentioned, if you are thinking about making a move here, I think this is going to give you a really good in-depth look about the area, talk a little bit more about the city, what areas you really want to target if you're moving here, where you want to live, where you're not going to want to live and really where may be the best fit for you.

First, if you're liking the channel and you're liking the videos, please, please, please go ahead and hit Like, please go ahead and hit Subscribe. It helps me, it helps the channel. Obviously, I'm trying to grow it. It helps me in my business. Of course, if you are looking to move to the area, I would love for you to reach out to me. You can call, text, email, would definitely love to chat with you and see if there's anything that we can do, myself or my team, can do to help you out. Again, thank you for checking out the video.

Today, we're getting to talk about the city of Temecula. If you are, are making a move here, I think it's going to give you some really good information. First, a little bit about me. I have lived here in the Temecula-Murrieta Valley for over 20 years, so I think I can be a really good source of information, give you some really good perspective. I think it's a great area. It's where I'm planning to raise my kids. I have two young kids, they're four and six years old. We plan to live here for the foreseeable future, at least through their school years, and hopefully the rest of my life we'll live here in the valley. I think it's a really good place to live. I think the location is awesome. Being in Southern California, it's relatively affordable and it's got a great school district.


Those are the big things that people target, especially the school district. If you have young kids, I mean, to live here in this price point, you can't beat it. If you're going to live in a similar price point in some of these other counties, San Diego, Orange County, LA, I mean, you're going to be in not a great school district. It's really apples and oranges.


Most the schools here are going to be rated in the eight, nine or 10 stars, 10 out of 10, nine out of 10, or eight out of 10. That's such a huge advantage when you're looking at different cities. If you have kids, you're really going to want to target that. Also, it's just such a safe area. Temecula and Murrieta, both, they're both been one of the top 20 safest cities for the last decade. There's a big military presence, there's a big police force presence and a lot of first responders here in the area. I think those are such big pluses and such big reasons why people want to move here.


Of course, at the same time, although there are a lot of positives, the area's not going to be perfect. I really wanted to talk to you a little bit about some of the negatives, or what could be a negative for certain people, about maybe why you would not want to live here or why you wouldn't want to live in certain parts of town.


I think the first thing I want to talk about is just living out in the wine country area. If you are not looking for rural property and a large lot on large acreage, one to four, to five, to 10 acres, and want to take care of that much land, that much property, you're really going to want to stay away from the wine country area and you're going to want to stay away from the De Luz area.


Here's the reason I bring it up and here's what happened. Temecula has really grown as the tourist attraction, so a lot of people come into town for bridal showers, they come into town for different events, different wine tasting, they stay at one of the Airbnbs. They come into town for the weekend and that's really what draws them here, is all the events that you can do out in wine country. So when they come here, that's a big thing that they want, they want to be in the wine country and live that type of life.


However, what a lot of people don't realize, if they're coming from a city or a suburb, if you're going to go live in the wine country area, want to live right next to the wineries, a mile down the street from the wineries, is those are big properties. Those are not tract homes, those are custom built one to three, to five, to seven, to 10 acres. That means you're going to have to take care of 10 acres, you're going to have to maintain 10 acres. There's just some real challenges and some real realities of life when you have a big property like that. That's a big thing that I wanted to mention because we have a lot of people that say, "Hey, I want to live in wine country," and that would be something to really make sure you have the right mindset and you're going to be the right kind of person that wants to maintain that much land.

Also, if you're going to live in a big property like that, a lot of people don't realize you're going to be on a septic system. A lot of people are totally opposed to a septic system. Personally, I don't think there they're bad. I think there's a lot of plus to having a septic and there's really not a ton of maintenance, but just the word, it just makes people uneasy a lot of times if they're not actually familiar. That kind of ties back to the same thing, hey, make sure if you're going to buy a big property like that, make sure you know what you're getting into, what it means to live on septic, what it means to not have natural gas and live either all electric or on propane, and to take care of that much land.


All right, and so another con, especially this is most common when people are moving from out of the area, which most people, when they're contacting me, when you're watching some of these YouTube videos and you're checking out the area, it's mostly people that aren't super familiar, they don't live here in Southern California now. They're just looking at a map and trying to get a really good understanding for the area, but people don't realize, we are in Southern California, there's a good amount of traffic. If you're living on one side of town compared to the other, your commute time or your total driving time can be greatly, greatly increased.


The big thing that I wanted to mention is if you are going to move to Temecula and you are commuting north, so if you're going to commute north to go to Orange County, if you're going to commute north to go to really Riverside, the city of Riverside area, or if you're going to commute north and go to anywhere in LA County, you really are going to want to avoid living in South Temecula. If you're going to commute one day a week, probably not a big deal, but if you're going to go five days a week and make that commute, South Temecula, it's probably the most desirable part of town, it's the most southern part of Temecula, it's the highest price point and they do have the most highly rated school, but if you are commuting north, that's really going to increase your commute quite a bit. It's probably a 20 to 30-minute difference in a rush hour commute from living in South Temecula to the north part of Temecula. That's a huge difference.

Justin Short:
If you're already going to have maybe a 45, 50-minute commute, to add on another 20, 30 minutes just from one side of the town to the other, that's a big difference. That's something I talked with a lot of clients about. If you are not from the area, you don't have that perspective, that's a big difference. If you're commuting north, you're probably going to want to avoid South Temecula.


Then the third thing that I wanted to point out in things that you may want avoid and areas you may want to avoid when you're moving here to Temecula is if you are tight on your budget. Say if you went out, you did the right thing, you went out, you talked to your lender, you got pre-approved and the lender says, "Hey, awesome, you're pre-approved for a $600,000 home," awesome. That's going to give you this certain payment, whatever it is, $3,000 per month. I have no idea, it depends how much you're putting down, but that's going to be your mortgage payment and this is what you're approved for and $600,000. You're going to be super excited. You're going to want to go out and take your preapproval, you're going to want to go try and find a house that's 600,000 so you can go ahead and buy it.


The one thing I want to caution you on is if you are at the top end of your price range, you're approved up to 600,000 and that's the max you can qualify for, that's the max payment that you can qualify ,or. You need to be very, very picky on what neighborhoods you're actually going to look at. The reason is, is a lot of people don't realize is the property taxes can be vastly different from one neighborhood to another.


In this area, most areas don't have this, but in this area, different neighborhoods have different special assessments, basically different taxes, and because of that, that can really change your affordability. There's some neighborhoods, literally, there's parts of Temecula, where you can stand on the street, one side of the street, they have low taxes, and maybe that'll be your $3,000-a-month mortgage that you're approved for at 600,000, awesome, that's going to work perfect for you, that's going to be a great fit, but on the other side of the street, they have higher taxes and that payment may be 350, $400 a month higher between the taxes and the HOA. When that happens, if you're at the top of your limit, what you can qualify for, you are not going to be able to qualify for that more expensive house. You're going to have to put more money down or have some other sort of solution.


That's a big thing. If you're not from the area, you're not paying attention to these different things. If you are tight on your budget, you're looking at the top end of what you can actually qualify for, make sure you're paying attention to what those property taxes are and make sure that actually will fit into your mortgage payment to make sure, one, you can qualify for it, and two, you can make that monthly payment every month.


Okay, hopefully that gives you guys a really good perspective on some of the cons to living in Temecula and some of the things that you're probably going to want to stay away from, depending on exactly your situation and what you're looking for. Again, those are three things that I want to make sure I point out to you and that you need to pay attention to.


Well, now we'll go ahead and talk about some of the real pros and some of the best areas and things you should be looking for when you're buying a home. Opposite of our first point about commuting, but if you are going to live here and if you are going to commute, and you're going to commute to San Diego, the best place that you want to live in Temecula is going to be South Temecula. South Temecula, if you look it out on map, it's going to be anywhere from Temecula Parkway, that's a main road, that's a freeway off ramp right off the 15 Freeway, and anything south of that, it's going to be considered South Temecula. It's the most southern part of Temecula.


If you are commuting south, if you're going to San Diego, anywhere in San Diego County, it is such a huge advantage to live there in South Temecula because it's going to shorten your commute. It's going to shorten your commute probably 20 to 30 minutes. That's a huge difference, especially in rush hour. If you're coming up the 15, coming up the freeway at 3:00, 4:00, 5:00, it's going to make such a big difference in quality of life. I'm sure that the commute's going to not going to get any shorter over the next 10 years. There's still more people moving here, I'm sure there's just going to be more cars on the road. If you're commuting south, you definitely want to target South Temecula.


Also, that tends to be the most desirable part of town, that's where most people want to live. The reason being is you're close for the commute. Also, it has the best high school in the area. It has the Great Oak High School. It's the most highly rated and it's really the most desirable school in town. Also, there's a lot of shopping off Temecula Parkway. There's just a lot of reasons that make it super desirable. There's also a lot of the most highly desirable neighborhoods, some of the top neighborhoods with the most amenities, the most bang for your buck as far as HOA. There's a lot of pluses there.


The second point, as far as the best areas for most people and really what you want to start looking for, is a home that has a low tax rate. Again, kind of the opposite of one of those first points we talked about, but especially if you are tight on your budget, if you are tight on that mortgage payment and you want to make sure you're going to live in within your means and be able to qualify for the home and live comfortably and you're worried about that payment getting too high for you, you want to make sure you're going to target homes with a low tax rate.


Again, different houses, different neighborhoods are going to have different tax rate and that's going to affect your mortgage payment drastically. Again, you can look at two homes side by side, right across the street from each other, if they're on different neighborhoods, one may cost you an extra three to $400 a month between the HOA and the taxes. There's really something you want to pay attention to, that's something that your agent and your realtor can help you target, make sure you're paying attention to property taxes and something to pay attention to.


Then some of the top neighborhoods in town that have some of those low property taxes, Paseo Del Sol has very low property taxes, Crown Hill has low property taxes. There's also some other top rated neighborhoods that maybe the taxes are a little bit higher, like Morgan Hill, Wolf Creek, the Redhawk area also has low taxes. There's a lot of different areas in town that are nice, very nice communities. I mean, most of the community is super nice, most of Temecula's going to be so super desirable, but especially if you're on that budget, you want to make sure you're paying attention and really focusing on the right places.


Myself, my family, we just bought a home. We just bought a new home in Sommers Bend. That's a super nice area. It's probably going to be the last new construction community, master plan community, in city of Temecula. It's pretty east, it's located off of Butterfield Stage, it's kind of on the border of wine country. It not in wine country, it is more of a tract home type of setup, but they're going to have probably a couple thousand homes I would imagine there. There's a big HOA and master plan community going in. This is now January 2022, they are actively building. There's four or five developments going in right now and they're getting ready to release two more. That area's continuing to grow. Those have higher taxes though, so you got to make sure you're paying attention to that.


Overall, I guess really the big thing I just want to point out, hopefully I want to give you some pros and cons, something to weigh if you're moving here to the area, talk about things that maybe make this area desirable, make certain part of the town less desirable, depending on who you are, and just give you hopefully a point of reference and something to really think about if you're moving to the area and deciding if you want to live here. Hopefully, it's good information.


If you guys have any questions, you can go ahead and reach out to me. You going to see all my info, call, text, email. Please go ahead and hit Like, please go ahead and hit Subscribe, and hopefully talk to you guys soon. Thanks.

Here is your January 2022 real estate housing market update.

Here is your January 2022 real estate housing market update. So let's go ahead and get into all the info.


Hey guys. Hey again, this is Justin Short with the Short Real Estate team here in Murrieta, California. Again, wanted to make one of these market update videos for you to make sure we're keeping guys posted on everything that's going on in the real estate market, keep you updated on average price point, how many new listings are coming up on the market and how things are starting to change or not change in the general a real estate market here.


First, if you are liking the videos, please, please, please go ahead and hit like, please go ahead and hit subscribe. It really helps me. It really helps the channel. Obviously we're trying to grow it, we're creating the content in order to hopefully, give you guys some good information and it helps me and my business. So I would definitely appreciate that.

Second, if you have any questions about the area, whether you're thinking about making a move here locally or even I've had a lot of people that are making a move out of the area, would love to hear from you. You could please go ahead and reach out. You're going to see all my contact information at the end.


The first thing we want to talk about is just a total amount of new listings. I guess this is probably really going to set the tone for all the stats that we're going to go over. Honestly, it's a little sad what's going on. I thought by now that we would start to see more and more inventory pop on the market, that it would start to be less and less of a seller's market and really become more of a balanced market. But unfortunately that's just not the case. Right now, there's not a ton of new inventory that's out there. We'll look at the numbers.


Last year for the city of Temecula in January 2021, there was a total of 133 new listings that were up listed for sale. So this year, one year later, 2022, there's only 105 new listings in Temecula. So that's 20 less listings this year compared to last year. And last year inventory was tight. There wasn't enough available homes last year. So city of Murrieta last year, there was 172 new listings that were put up on the market for sale. This year only 120. So over 50 less homes that were put up for sale. City of Menifee, last year 139, this year 142. So really basically about exactly the same.


So the reason I'm saying it's sad is we thought by this point, we'd start to see more and more inventory. We start to see more people put their house on the market and so that means more for buyers to choose from, and that means less competitive market for home buyers. That's just not the case. So it's going to be really interesting over the next couple of months to see as things play out because we don't see more inventory, you're going to start to see more and more competition. That means prices are going to continue to go up up and up.


The next stat we're going to look at is the total amount of active listings. So city of Temecula, again, we're going to compare last year. There was 200 active listings on the market in city of Temecula. This year, 2022, there's only 152 available listings. So again, there's 50 less homes for sale in the city of Temecula. Murrieta last year was 230 active listings. This year, only 161. So that's 70 less available homes for sale. City of Menifee last year, there was 167 and this year's actually more, there's 213 available homes for sale. So that's the only one that we're seeing a little bit more to choose from for buyers, but overall less new listings and less active available listings.

The next stat is going to be the days on market. So the days on market, again, it means how long the average home is taking to sell. So last year, city of Temecula, the average home was taking 22 days to sell. This year, it's only 20 days. City of Murrieta, last year was 21 days, this year, it's 22 days. So last year city of Menifee was 21 days. This year, it was 21 days. So really exactly the same. So pretty much for all three cities, days on market's really right there. It's basically the same numbers. The average home is taking the same amount of time to sell.


Then the last one we're going to talk about is just average sales price. So, I think this isn't going to be the first time that you've heard this and if you've paid attention to the news or really anything related to the housing market, I think most people know that the home values and home pricing has gotten up, up, up the last few years, especially the last 21 months now. Since COVID started, obviously that gave it a really big boost to the housing market, but just look at the numbers again, it's pretty staggering every time we go back and look at it.


So the city of Temecula last year, the average home in the city of Temecula was sold for $639,000. This year, the average home in the city of Temecula is $773,000. So that's an almost $140,000 swing in one year for the city of Temecula. Last year, city of Murrieta, the average home is selling for $536,000. This year, the average home is $672,000. So again, it's another $140,000 right there. City of Menifee, last year was $432,000. This year, it's 529,000. So the city of Menifee homes have only gone up $100,000 dollars in the last year. Those are huge jumps across the board. I mean, it's a ton of appreciation and obviously, I don't believe it's going to be sustainable long term. That's why we are hoping for some more inventory that will really help mellow things and hopefully pricing doesn't get too crazy.


At the same time, if you are selling your home, obviously it's a great time to sell your home. You're going to put more money in your pocket now than you've ever been able to. But the price point, if you are looking to buy over the next six months, I mean, sooner is better really. Because as rates start pushing up, as there's still not enough inventory, there's going to be more competition and I would really recommend sooner better to be able to buy a home if that's going to be your plan.


So I hope that's going to be some good information for you guys. If you have any questions, you can feel free call, text, email. I've had a lot more people reach out to me lately. Love hearing from you. Happy to answer any questions you may have. If there's anything we can do to help you as far as buying or selling real estate here locally, of course we'd would love to do that. Again, hopefully, please hit the like button if you're liking the videos and talk to you soon. Thanks.

The TOP 10 Reasons you DON'T want to move to Menifee California.

All right, if you want to know the top 10 reasons not to move to Menifee, California, watch this video and find out.


Hey guys. Hey again. My name is Justin Short with the Short Real Estate Team here in California. We today wanted to create a video and talk to you about Menifee California. I'm here local in the Menifee, Marietta, Temecula area. We try and keep these videos coming to you once per week. Hopefully keeping you updated on the different towns, on the different cities, the real estate stats, and hopefully give you a good feel for what would be like to live here if you already don't.


If you are liking the videos, please go ahead and hit like, please go ahead and hit subscribe. We're going to keep them coming once per week. Hopefully keep you updated and educate you just on the area overall. If you do want to reach out to me, you're going to see my contact information below and at the end, call, text, email, would love to hear from you. Had a lot of people reach out lately and happy to answer any questions you may have or make recommendations.


I've lived here over 20 years. Hopefully just give you some good information. But for now, let's get into the video. We are going to talk about the 10 reasons that you would not want to move to Menifee California. Menifee is a growing area. It's been one of California's fastest growing cities for the last decades, the last 10 years now. They've done a lot of infrastructure improvements. It's grown a lot. There's been a ton of new communities that have gone in and the population has really grown a ton and they're building a lot more commercial and shopping centers, all that good stuff.


A lot of growth, but it's not going to be perfect for everybody. I wanted to create this and hopefully give you some ideas about maybe why you wouldn't want to come and live in Menifee. Reason number one. If you are looking to live in a city with a large employer in town, Menifee probably is not the right city for you. Most people that live in Menifee do commute out for work to somewhere outside of town or they work from home. But there is not a large employee.


There isn't a big airline or big manufacturer or this big, massive employer that employs, tens and tens of thousands of people in the city. That is just not what Menifee is about. That's definitely more of a suburb, really a bedroom community where people live here and they will commute out to work or work from home. That is going to be the majority of the people that live here locally. If you're looking for that big employer, Menifee's probably not going to be the right place.


Reason number two, why you would not want to live in Menifee, is if you're looking for a short commute to LA. I know we've had a lot of people lately that have been online and looking and contacted us and watching some of our videos and really want to work in LA or currently do work in LA or planning to move to LA and they're asking if Menifee would be a great location to live in to be able to commute out to work.


People do make that drive all the time. Yes, a lot of people that do, but if you're looking at for it to be a 20, 30 minute drive to get to work and live in Menifee, that's just not going to be the right area. If you're looking for a short drive to LA, Menifee is not the right area. That's really probably more of a hour and a half to two and a half hour drive, depending what part of LA you're going to be going to. I would not recommend that if you're looking for a short drive.


Reason number three that you would not want to move to Menifee is if you're looking for that short commute to San Diego. We also have it the same way where people do live here and they commute out to San Diego. That's definitely a more common commute for people to make. But if you're looking for that short 20, 30 minute drive, Menifee's really not going to be the right area. you're really more that hour to hour and a half long commute. I would brace for that, prep for that, know that going in, if you're going to be working in San Diego.


If you're not from the area, we have a lot of people that they're just looking at price point like, "Well, Hey, Menifee is more desirable than San Diego. Yes, absolutely. That's why people live here. But it's that commute. It becomes longer. If you're not working from home, you're going to make the commute from San Diego. No, it's not going to be a super short commute.


Reason number four that you would not want to live in Menifee is if you don't like warm weather. Menifee, it's a hot city. We're really more of a desert type of climate. We're pretty flat. We don't get a lot of different seasons. In summertime the average temperature is going to be up in the high 90s. We have heat waves in the low 100s, low to mid 100s even on something super severe. At the same time in winter, we don't get snow. We're in Southern California. We don't get snow. We don't have a lot of cool temperatures. We do cool down at night, yes. But if you do not like warm weather, I would not want to live in Menifee.


Reason number five why you would not want to live in Menifee, California, and this is something when people live out of state and I've actually had people contact me and say, "Hey, we want to move to California. We want to live in a more liberal town, a more liberal area, is Menifee going to be a great fit?" Truthfully, I do not care what your politics are. I don't care if you're red or blue or left or right. Doesn't make a difference to me. You shouldn't care what I think either. But if you want to live in a liberal town, Menifee, it's probably not the right area.


It is South Riverside County in general. It's not my opinion. You're just looking at voting stats. They post them up online. You can take a look at them. But there is a more conservative, more red demographic that lives in Menifee than liberal. A lot of people, when they're think about Southern California, they just assume it's a very, very heavy blue state and everyone in the state is liberal and heavy blue. That's just not the truth. But the voting stats show, it's just not true here in Menifee. Something for you guys to know.


Reason number six why you would not want to live in Menifee is if you wanted to live in a town that had a lot of hills and a lot of different view lots because of the hills and the topography that different communities have and you wanted that for your home and where you want to be, I would say Menifee's probably not the right area. Menifee's actually pretty flat. There's really not a ton of hills, not a lot of rolling hills. It's more of a flat area. You get some decent wind that comes through, yes. But if you're looking for those view lots, Menifee's probably not going to be the right place.

Reason number seven, the reason that you don't want to live in Menifee, is if you want to buy a home with four bedrooms under $400,000, Menifee's not going to be the right area. I've actually had a handful of people reach out to me lately thinking about what pricing was four or five years ago here in the town. The town's grown so much. In general, real estate pricing has gone up so much. But if you want to buy a home for $400,000 with four bedrooms, Menifee's probably not going to be the right area. We just did another market update where the average priced home in Menifee is really about $500,000 now. If you need a four bedroom home under $400,000, Menifee's not going to be the right area. You're really more, probably closer to that $500,000 or north range.


Reason number eight why you would not want to live in Menifee, California is if you want to live right next to the beach. Again, a lot of people relocating, they're not super familiar with the area. They just see Southern California, they see affordable pricing, they see Meniere and they're going to click on it. If we are near the beach, yeah, we're in driving distance to the beach. Yes, absolutely. But that's probably a good hour, maybe about an hour commute from Menifee to the beach, maybe hour and 15 minutes, depending what beach you're going to.


If you want to live 15, 20 minutes down, you need to get much closer to the coast. You need to get to Orange County, you need to get to San Diego County. The downside there, it's a lot bigger price point. You're not going to be able to buy many homes out there for $500,000 that's probably going to be in a nice area. If you want to live right next to the beach, Menifee's not the right area. If you want to be in driving distance, absolutely. That's one of the reasons that we live here locally is we're driving distance to everything. Make a nice day trip. You can drive an hour and you're there. No big deal. But definitely not right down the street.

Reason. Number nine to not live in Menifee is if you do not have a car, you probably don't want to live here. That town, it's just not a very walkable city. It's pretty large. It's pretty good size. There's a lot of really good shopping, a lot of different shopping centers. There's more stuff that's going in. There's movie theaters going in, there's more shopping centers are going in, more homes are going in. All that is really good stuff, yes.


But if you do not have a car, having access to all those things can be super tough. Unless you live right next to the freeway and some of those major centers, I would really not recommend living in Menifee if you're just looking to be able to walk, small walk somewhere. Again, we've had people reach out to us. They live in a big city. They're used to just walking down to the grocery store or walking to the mall or walking to all these different places. Just the walkability isn't super great. It's definitely more because it's suburban. You probably need that car to really get around town and be able to access all the different shopping and all the different parts of town.


And reason number 10, why you would not want to live in Menifee, California, is if you want to live right next to wine country. Here in South Riverside County, there's a ton of wineries. Most of them they're in the city of Temecula. There's over 50 wineries. It's a big destination people come out here for. They come out here for bachelorette parties. They come out here for get togethers and they rent the ballrooms and they do all that type of stuff. The wineries are packed every single weekend. If you like wine, if you want to check out wineries, it's a great place to check out.


However, if you are wanting to live in Menifee and be just minutes from the winery, probably not going to be the right area. You're probably more, that's probably a 20 minute drive. It's super doable. You can get an Uber real easy, super inexpensive to be able to get out there and have a great time. There's a bunch of wine tours that you can check out, all that good stuff. But if you want to live right near the wineries, Menifee's not going to be the right place.


If you want to be within driving distance to go out there on the weekends and have a great time, awesome. But just know it's not going to be minutes away. It's going to be, like I said, 20, 30 minutes or so, depending where exactly you're going. Hopefully that gives you guys some good info. 10 reasons why you would not want to live in Menifee. If you have any questions or something you want to chat about or see if it's the right town for you or see if some of the surrounding areas would be a better fit, you can feel free to reach out. Again, you see all my information below. Please hit subscribe and hope we talk to you guys soon. Thanks.

December 2021 Real Estate Housing Market Update - Temecula, Murrieta, Menifee California

Hey guys. Hey, here is your December 2021 real estate housing market update. Let's get into it. Hey again, this is Justin Short with the Short Real Estate Team here in Murrieta, California, and wanted to give you another real estate housing market update video. We're putting these out once per month. Hopefully keeping you guys updated on what's going on here in the local real estate market. We're going to talk about total number of active listings, total number of new listings. Talk about average sales price and talk about how long an average home is taking to sell. We are putting these out once per month and we're setting, putting out videos here on YouTube once per week. Hopefully educating guys on the area, showing the difference between different towns, different parts of towns, what's going on in town. Hopefully educating, especially if you're not from the area, give you a good feel of what it would be to actually live here. If you are liking the videos first, please go ahead and hit, "Like." Please go ahead and hit, "Subscribe." It helps me. It helps the channel.


We've had a lot of people reach out lately, and I'm happy to answer any questions you guys may have, make recommendations, or of course help with the home search. We'll go ahead and get into the info. Today we're going to talk about the city of Temecula, the city of Murrieta, and the city of Menifee. We're going to compare the housing market stats from last year, so 2020 compared to this year, 2021. Right now this is December 1st, 2021. We're going to talk about the previous 30 day stats and kind of what's changed over the last year. For the city of Temecula, last year, there was 143 new listings that popped up on the market. Actually, this year and for 2021, it's exactly the same. Another 143 new listings. What that tells you is the amount of new listings is exactly the same from last year to this year.


City of Murrieta, last year was 208 new listings that popped up on the market. This year it's actually less, there's almost 50 less listings. There's only 160 new listings that popped up on the market over the last 30 days. City of Menifee, so last year was 168 new listings, and this year it's 171. Again, really, basically exactly the same. It's actually, I mean, there's three more, it's not making much of a difference there, but it's basically the exact same number of new listings that have popped up on the market. Which is kind of interesting as things are starting to change. I mean, we're seeing a change here in the market. We're having better luck getting our clients offers accepted. We're having some of our listings sit for a couple weeks. We're doing some price reductions. Some things we haven't done in probably the last 18 months truthfully. What we're starting to see in that change, and a lot of my agent friends are feeling the same, and it seems to be happening dually [inaudible 00:02:51] across the board.


The next thing we are going to talk about is just the total number of active listings. Last year in, just November 2020, there in the city of Temecula, there's 247 active listings on the market, so that's available inventory. This year there's only 199, that was Temecula. City of Murrieta, last year, there was 268 total listings on the market that are active and available. This year only 240. Again, less homes available. City of Menifee, last year 220. This year, 247. There's actually slightly more to choose from in Menifee than there was just a year ago.


Cool. The next stat we're going to get into is just the average days on market. Last year, and this, I guess before we get into it, this is probably the one area we're going to start finally seeing some changes in the true stats. We're starting to see a little bit of a change in the average home taking a little bit longer to sell. City of Temecula, last year the average home was selling about 17 days. This year we're up to 21 days. City of Murrieta, last year was, the average home was taking 22 days. This year it's taking 19 days. Again, about the same, yes, slightly less. City of Menifee, last year was taking 15 days. This year taking 18 days. But with all that craziness that we did see, we saw all the pricing go up, and I think most people are aware of that by now. But once you start looking at the numbers, I think it's pretty drastic.


Last year city of Temecula, the average home was selling for $632,000. This year the average home in Temecula is $759,000. I mean, that's almost a $130,000 swing. Last year in Murrieta it was $535,000 was the average price point. This year, $648,000. Again, that's another, I mean it's $113,000 there. City of Menifee, last year was $433,000. This year we're up to $500,000's, the average price point. Again, that's another 65, $67,000 swing for the city of Menifee. I know people have seen that just across the nation, right? We're seeing a lot of appreciation over the last year. Yes, everyone has a lot of equities, which is great, but we are, as the average days on market are starting to temper, as it's starting to slow, starting to take a little bit longer, we're starting to see the market change a little bit. We're not expecting a crash, anything like that, but we are definitely feeling a softening and a slowing.


Hopefully that helps you guys out. Hopefully it keeps you updated on what's going on. If you have any questions that I can answer for you, or would like an evaluation on your home, of course would definitely love to help with that. You can feel free to reach out. You're going to see all my information there below. Call, text, email. Again, if you're liking the channel, please hit, "Subscribe." Hopefully talk to you soon. Thanks.