Murrieta California Real Estate
How do you guys feel about Murrieta, CA been intensely researching the area and I’m planning on buying property there or next door in Wildomar.
Thoughts?
Most Popular Reply
@Austin Shade Prices are up right now everywhere. Murrieta prices included. Even condo prices are up right now. I will say this, having recently been involved in numerous deals in the area on mostly the listing side, but also buying side, the offers are coming in way over list price because of so much competition. BUT keep in mind, the sales still have to appraise. If offering, put a cap on your offer for any appraisal waivers. Don’t overpay!
Even listing at above comp prices, buyers are still over bidding in this market because they’re feeling anxious. But I educate my sellers on the receiving end, to not expect the high sale price. (Of course cash offers are different, but typically lower.) If it doesn’t appraise, even if the buyer releases full appraisal waiver, doesn’t mean it’s a done deal. Buyers can still walk, and you’ve wasted time. Back up offers are there, but still doesn’t change the appraisal.
Hoping the market’s rising prices get under control soon.
Hope you can find a reasonable investment property. Just run your numbers. Don’t be afraid to wait for the right place, but don’t wait too long either. Ask lots of questions and don’t be afraid to ask again if you don’t understand something.
Finding a good investment isn’t just about the price. It’s about the return!
Good luck in your search. Murrieta is great. Wild Omar is less expensive, but returns may not be as good. Temecula is great. Prices are higher, but so are returns. Just do your homework! You got this!