This is a story of mystery, intrigue, and me being a little dumb or dumbfounded when it comes to having a listing and then not listing it.
Here in my neighborhood, the real estate market is hot. It's smoking hot. It's white hot. You can't touch it or you'll burn your hands (and if you're dumb like me, you might not be able to use them for a while). https://davekeys.com
ENTER: 26672 Irvine Ln Menifee
But there is one house that bucks the trend. It is unlisted in real estate. More than unlisted, the sign doesn't even say it's actually for sale. (ot yet) It says "Coming Soon."
I mentioned this to my friend who is a Realtor and she said it's probably the bank's way of making sure they sell the house.
Also, a Realtor friend in another town said it's a common practice when a house has been in foreclosure and the bank wants to sell it quickly before winter to put up a "Coming Soon" sign that reassures buyers that there is an agent representing the bank's interests. But really, I have no idea why the house is advertised not for sale, yet.
Very curious, that the listing company had not updated the MLS.
26672 Irvine Ln. Menifee CA
This Faircrest home is one of around a half dozen that have gone up on the block this summer, except it isn’t really for sale yet.
It has a For Sale sign, with “Coming soon” attached to the sign. It’s been that way for a couple of weeks now. Is this a typical “build up interest” ploy or is that really unnecessary in this seller’s market and in light of the autumn slowdown in transactions?
It seems that every home that has sold this year in this neighborhood has ridden on the coattails of the comps and gotten away with it- each priced a little higher than its cohorts.
Of the three main cities here in the Temecula Valley, Temecula, Murrieta and Menifee, Menifee already has the highest inventory. Who knows? Maybe there’s some kind of problem with title or something that is holding up the placement on the market. In that case what else can they do?
It’s one of the smallest models in the community at 2391 Sq Ft. Most of the comps are 2900 sq ft.
This house has been a rental for years and last sold in 2006 for $417K
Z-estimate is $584.6K. That seems really generous, even for Zillow but it does have a very nice pool. Is it worth the extra $40K or more? I guess we’ll find out how hot this market really is. Several of the larger homes at 3,304 sq ft. Have sold for well over $600K, which moves toward the higher median price associated with Temecula.
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