It is that time yet again to give you the quick and latest news for Temecula Valley real estate!  As of late September, the news coming from the Fed has truly affected real estate loans, dropping interest rates on FHA under 4%.  I am seeing folks acquiring new loans for 3.75 fixed!  I picture this will most likely help several individuals meet the requirements for higher quantities and really enhance  a currently active real estate market.

I am going to get right into the amounts and not use up too much time.  Keep in mind these amounts are for Temecula Valley houses that are active right now and the sales come from August of 2011.  All properties must be in Temecula Valley, single family dwellings, and under $1,000,000 in price.

When contrasting the August 2011 report with September, we do not see much in the way of changes except in two primary areas - 1) Number of Temecula homes sold and 2) Average Days on Market before sale.  We did see a powerful boost in sales which are up from 148 Temecula houses sold in July to 171 properties sold in August.  That is a boost of 15.5%.

However, we also see a rise in Days on Market which generally indicates the market is slowing a little bit.  In July, the average was only 57 days in contrast to 73 in August,  an adjustment of 28%.  That is a contrast of info there with nearly all things staying pretty much the same.

I am going to suppose that is the impact of short sales regarding Days on Market. The stronger sign is the amount of homes closing as a market pattern in my opinion.  Short sale setbacks are extremely common and also the Days on Market is effected if a short sale ends in a foreclosure, thus adding to that number somewhat incorrectly.

That completes your quick September 2011 Temecula Valley Real Estate Market Update.  Please let me know if I can answer any concerns for you by merely shooting me an email.  My contact information is on the right and I will be pleased to help!