How will it affect you? Well if you are in an investor you will be required to maintain the properties you buy and if you do not to the appropriate city and local ordinances you could be fined $1000/ day. This is true for the bank owned properties (REO) as well so lenders that take over a home will also have to maintain it while preparing it for market.  This could make the lenders work a little harder to keep the loans from going bad and working more in negotiation of short sales, etc.

We are thinking this will help the short sale market a little and maybe give people longer times to negotiate something with the bank but overall we do not see too much change with this new law. Let us know what you think.

The new home market is of course effected by the amount of builders that jumped on the bandwagon as the market continued to go up with the hope they could get their project done and beat the drop making large profits, but for many that did not happen. New home builders are offering deals such as paying some one’s mortgage for two years on another home so you can relocate or just change homes as well as other creative incentives to buy. The new home market is a moving target as the prices of raw materials and gas have also effected it. It might be a great time to jump in and buy.

This could be the typical upswing that occurs in a regular market at this time of year because of the summer and families relocating which would say that we have not hit the bottom pricing or it could mean that it has hit bottom and inventory is going down which is what everyone is hoping for. Time will have to tell that and we honestly will not know until after summer is over.

Either way it is good news for those that need to sell their home short right now and are facing forclosure as there are more buyers and more transactions happening than expected. It is  also good news for those that want to buy in Temecula Valley as the prices are probably stabilizing and values could be going up.  New homes are one of your best choices as they have a time limit to have to rid of their inventory.

It comes down to it that I am not a betting man so I will leave that to the economists and in the meantime say it is about time that there is a little good news for the Temecula Valley .

The biggest event is the Temecula Balloon and Wine Festival held every year in June which was held this past weekend. The event always includes all the local wineries sharing their best wines with the attendees, as well as local musicians and booths showcasing the many businesses in the Temecula Valley and their goods and services. This years musical headliner was Kenny Loggins. and along with John Waite and the band of the 70’s, Ambrosia, the talent this year was spectacular.

Tickets are priced reasonably and the everyone always enjoys the event. This year the weather was perfect allowing for the balloons to launch as scheduled coloring the skies of Temecula with the attendees and local resdients taking in the breathtaking picture.

There is one thing wrong with this festival though: it is only held once a year. Hope you were able to catch it but if not then there is only 363 days or so left until it comes around again.

Just check out the Temecula Valley Lennar homes and the pricing might shock you. Remember when buying a new home there are tips of the trade that Realty Gallery would like to show you so before going to sign in or check one out contact us first as we guarantee we will save you money.