Market Report for Paseo Del Sol, Temecula Homes for Sale - 12-2012
This chart shows some continuing signs of a short sale market in Paseo Del Sol, Temecula homes for sale.
That is, a short sale is where a homeowner is asking the bank that loaned that homeowner the money to guy originally, to take less than the loan amount, that is, "short" of the loan amount. This is because market prices are below the price paid by the homeowner when they purchased the home.
Unlike their name, short sales usually take quite a long time. The owner gets the home on the market, gets an offer and submits it along with a lot of financial information showing their hardship or need to sell now at less than the loan amount. The short sale banks are taking anywhere from 3 to 6 months to get through these requests and issue short sale approval letters, if any.
While the process moves along, having an offer in hand, the seller's agent puts the home in a "Pending Sale" status. The result is, the number of homes in this Pending status is larger than those actively for sale versus those sold in the most recent month.
In this kind of market, whether you are going to buy or sell, it will help you put the most in your pocket to have an experienced real estate agent help you through the process. Buyers, the experienced agent has the most chance to help you time the short sale to suit your needs. Sellers, that agent will help as much as anyone to make the process a) happen and close, and b) go as smoothly as it can.
My husband, Frank, is an experienced local real estate agent and would be happy to do a free, no-obligation consultation with you. You may want to call him at 951-326-7330, or if you prefer, email Frank.
You may also visit our website to learn about Frank, or
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