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Temecula Valley Wine Country Bank Owned Homes 7-28-08

By
Real Estate Agent with 1st Action Real Estate
7-28 wine country reo's
As the Southern California market adjusts, buyers are finding a selection of fine homes on acreage in the midst of the Southern California Wine Country. However, bank owned homes represent only 4% of existing inventory in the Wine Country today, just 6 out of 166 homes for sale. Short sales represent another 10% of the market with 16 homes currently under Notice of Default.

As of July 29, 2008, the six bank owned homes available in the Temecula Wine Country include the following:

scenic ridge40432 Scenic Ridge Drive. This custom built homes offers one of the finest views in the valley. Overlooking Vail Lake with panoramic views that include Mt. San Jacinto & Big Bear, this house needs more than a little TLC but it sits on 20 acres with about 4 or 5 horse usable. Lots of potential
SqFt: 1,690    3/1    LP: $358,000    LO: Keller Williams

escalona39695 Calle Escalona.  Spanish Hills home on @ 5 acres - all usable w/access to horse trails. Spacious floorplan, great views, great for horses or toys w/RV parking, gated entry.
SqFt: 2,615    4/2    LP: $399,900    LO: Rancon Realty

portillo39921 Calle Portillo.  Manufactured home on permanent foundation on 6.8 acres. Views of Mt. Palomar. Open floorplan, detached shed, big kitchen.
SqFt: 1,971    4/2    LP: $422,500    LO: Keller Williams

fino
36395 Fino Vista.  Tons of potential, pergo-style & tile flooring, brick fireplace, inground pool & spa, 3 car garage on 2 acres.
SqFt: 1,762    3/2    LP: $492,900    LO: Old Oak Realty


monte
32200 Vista Del Monte.  Quiet area on top of hill, beautiful views of vineyards, front courtyard, wood floors, brick fireplace, exposed beams. @ 2 acres.
SqFt: 2,231    5/3    LP: $609,900    LO: Re/Max Elite


bella vista
39030 Bella Vista.  Newly refurbished custom, new gourmet kitchen, new carpet, new interior paint, private patios, childrens wing, beautiful landscaping. @2.25 acres
SqFt: 3,772    4/3    LP: $749,900    LO: Rancon Realty

To simplify your search for a Wine Country home, call your wine country expert the Old Wino (viticulturist).


Gene Wunderlich - Selling Southwest California Homes including Temecula, Murrieta & The Southern California Wine Country
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Remember, Don't wait to buy real estate - Buy real estate and wait.
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THE OPINIONS IN THIS COMMENTARY ARE STRICTLY GENE WUNDERLICH's PERSONAL OPINION. WHILE ANY REASONABLE &/or RATIONAL PERSON SHOULD AGREE, THESE VIEWS MAY NOT REFLECT THOSE OF ACTIVERAIN, COLDWELL BANKER RESIDENTIAL BROKERAGE OR ANY  LOCAL, STATE OR NATIONAL ASSOCIATIONS.

Comments(3)

Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Our area has an even smaller percentage of foreclosures, under 1% in most counties.  However, the percentage of SOLD to listed is much higher for foreclosures than non-foreclosures.

The foreclosures are generating sales. 

Jul 28, 2008 11:43 PM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

Gene your pictures are all missing.  I thought you'd like to know.  They are not showing up.

Jul 29, 2008 12:10 AM
Gene Wunderlich
1st Action Real Estate - Murrieta, CA
Realtor & Legislative Liaison

Thanks Jim. Senior moment there but since the pic's were showing up on my screen I never would have caught it.

Lenn - Foreclosures reprewsent a small percentage of our upper level listings but the same disproportionate share of sales. But in ouy tract homes REO's represent about 80% of our listings and 90% of sales. They are definitely driving our market right now but our sales are double wat they were last year at this time so that's a good sign isn't it?

Jul 29, 2008 07:24 AM