Canyon Lake Real Estate Trends Issue CL03 | Page 2

Real Estate Trends Newsletter BROUGHT TO YOU BY JUSTIN BEVINS REAL ESTATE MARKET REPORT  Canyon Lake Market Report Sunday, March 2, 2014 Bevins Group Real Estate Berkshire Hathaway Home Services [email protected] Your one page analysis of current market conditions  MARKET SUMMARY TABLE A = Average Value M = Median Value N/A = Not Available Price Range  Low High $0 $99,999 $199,999 4 Current List Price 0 $100,000 $200,000 $299,999 20 $300,000 $399,999 24 $400,000 $499,999 20 $500,000 $599,999 11 $600,000 $699,999 17 $700,000 $799,999 4 $800,000 $899,999 4 $900,000 $1,000,000 $1,100,000 $999,999 $1,099,999 $1,199,999 3 1 2 $1,200,000 $1,299,999 1 $1,300,000 $1,399,999 2 $1,400,000 + Market Totals Market Averages Market Medians 3  [2] 21 $ 139,725 M 17 $ 132,450 A 68 $ 273,290 M 52 $ 281,500 A 78 $ 367,462 M 54 $ 372,000 A 80 $ 455,035 M 56 $ 448,750 A 135 $ 551,155 M 97 $ 539,900 A 128 $ 659,324 M 122 $ 649,900 A 144 $ 766,725 M 139 $ 773,950 A 138 $ 864,488 M 140 $ 867,000 A 221 $ 963,667 M 264 $ 949,000 A 107 $ 1,099,999 M 107 $ 1,099,999 A 283 $ 1,162,500 M 283 $ 1,162,500 A 233 $ 1,295,000 M 233 $ 1,295,000 A 141 $ 1,387,475 M 141 $ 1,387,475 A 67 $ 1,883,000 M 44 $ 1,950,000 Num # Num # Pend Ratio 0 1 0 2 4 14 41% 7 23% 4 17% 2 15% 2 11% 13 33 23 39 22 21 13 6 10 6 7 0 3 1 20% 3 25% 4 101 74 $ 549,789 $ 448,750 Date Range (Off-Market & Sold) = 09/01/2013 to 03/02/2014 Data believed to be accurate but not guaranteed. (months of inventory) Original List Price Final List Price Sold/ Closed Price ListSale Ratio A 155 $ 97,900 $ 97,900 $ 94,000 96% 155 $ 97,900 $ 97,900 $ 94,000 96% A 22 $ 163,500 $ 152,750 98% $ 156,100 M 21 $ 159,500 $ 147,500 $ 150,000 102% A 73 $ 276,973 $ 269,302 $ 265,658 99% M 78 $ 280,000 $ 277,000 $ 274,900 99% A 65 $ 357,922 $ 347,319 $ 343,406 99% M 51 $ 349,245 $ 346,500 $ 340,000 98% 97% A 78 $ 463,695 $ 454,690 $ 442,914 M 71 $ 469,000 $ 449,000 $ 450,000 100% A 128 $ 602,150 $ 575,250 $ 555,167 97% M 110 $ 617,000 $ 597,000 $ 570,500 96% A 80 $ 668,567 $ 655,317 $ 641,650 98% M 67 $ 667,000 $ 654,000 $ 644,950 99% A 86 $ 728,333 $ 731,667 $ 710,000 97% M 103 $ 725,000 $ 725,000 $ 705,000 97% Est. Mos. N/A Still low supply of homes 3.6 available from $200k-$500k 6 3.7 5.7 11 17 8 List price to sales price ratio is still high - good for sellers. 0 0 0 0 0 0 1 0 1 s a le s f r o m 0 t h e la c k o f t h e la st 6 - N o t ic e in 00 a nd u p e nd wat e r front 0 $8 0 0,0 s h e h ig h m o n t h s. T l h a s n’ t c o m e b a c k a . 0 m a r k e t st il li k e t o s e e s w e w o u ld 6.2 months supply of st r o n g a homes indicates a good equilibrium between buyers & sellers 0 1 25% 1 0 32 116 ABSORPTION RATE M 0 1 [3] SOLD/CLOSED (last 6 months) [4] Days on Market Num # 0 A OFF-MARKET (last 6 mos)  ACTIVE [1] Days on Market Num # PENDING 22% 100 113 32 hom under coes ntract 6.2 74 62 $ 384,052 $ 346,500 $ 374,173 $ 340,000 Favors Sellers $ 367,050 9 8% $ 340,000 100% Favors Buyers Real Estate Trends Newsletter 5 Budget Benefits (...continued from cover) 3. Hit goals. To reach a financial goal: 1) set a time frame: “I’m going to save $_____ for a home down payment by the end of 2015; 2) write down the steps to get there: “I’ll double my savings every month.” But you need a budget to “find” that extra money (maybe those beverage savings?). A budget also keeps you motivated – you won’t mind cutting out some movies if it means a nicer summer vacation. 4. Spend smarter. If your budget shows you spend more than you earn, it can also reveal ways to spend smarter. If your budget shows you earn more than you spend, you can then figure out the smartest way to spend, save, or invest the excess. Without a budget, you can’t be sure about that surplus, so the extra money goes to mindless purchases. 5. Be prepared. You want to set money aside for unexpected medical expenses or repairs. These funds can also pay the bills if you’re injured, sick, or laid off. A budget will help you set aside something each month to build an emergency fund to cover 3 months’ expenses. If this gets hit, the budget can help you shift spending to build your emergency fund back up. I hope you enjoyed the information regarding budgets. Please let me know if you need my assistance in residential financing, or have any questions or comments. Have a wonderful March! -Dave P.S. - In today’s market, mortgage rates are volatile, but remain at historically attractive levels. When buying or refinancing, it’s smart to start the process early. Please call or email us to explore the appealing options available now. MORE USEFUL REAL ESTATE INFO AT: WWW.BEVINSGROUP.COM BEWARE... With Taxes Come Tax Scam Artists By Harold Newman R emember the saying “If it’s too good to be true……” well that goes the same with having your tax returns done. There are some big scammers out there so I have listed a few of the big ones. The first biggie is the Fake tax return preparers - there are a lot out there. They promise big refunds and they take a percentage of the wind-fall. If any tax preparer charges you for a percentage of your refund that is actually illegal and more than likely the returns are not prepared correctly. This is just one scam out there during this tax season. Another one is the Telephone Scammers…. These people will call you and pretend to be the IRS and tell you that you owe money and need to pay it right away with a credit card or wire. Remember, the IRS will never ask you to pay over the phone with a credit card and especially thru a wire. The IRS has a website where you can pay that is secure. Then there is the Phishing. A Taxpayer will receive an unsolicited email stating that they are the IRS and directs you to a fake website to get your private information. These people are very good at what they do because the websites actually look real. However, BEWARE – these websites are designed to grab all your information and/or money. Just a note: The IRS NEVER contacts any taxpayers by email. If you believe you got one of these people please report it and forward the email to the IRS at [email protected]. Last one is one that can make anyone miserable. IDENTIY THEFT! Someone can steal your name, social security number and other identifying information, and then will file a bogus return with your information to claim a refund. Then you try to file your return and it gets rejected because it was already filed. This is a big problem this year. If this happens you must send your return in by mail and you can call the IRS Identity Protection Specialized Unit at 800-908-4490. Believe it or not... IRS is our Friend... At least this time The IRS has been trying to make it a requirement for all tax preparers to take a test to make sure that they are competent enough to file tax returns on behalf of someone else and /or secure continuing education. This would protect the public from returns improperly filed. Well on Feb 11, 2104, the U.S. Court of Appeals for the District of Columbia Circuit upheld the decision previously made in the case of Loving vs. IRS, basically stating that it is up to the taxpayers to determine if the preparer is a good one or not and that the IRS cannot enforce taxpreparers to any guidelines. So remember, the only Tax Preparers that are licensed by the IRS and must have continued education in order to keep their licensing is an ENROLLED AGENT. There are two others types of preparers that have continued education and have to adhere to higher standards and they are the CPA and Tax Attorney. If you aren’t doing your taxes with one of the three you may want to make sure that person is qualified enough to do a tax return. -Harold Only a life lived for others is a life worthwhile. - Albert Einstein Harold C. Newman EA,CTRS,ABA,ATA,ATP Newman Tax & Resolution Inc. 32605 Temecula Parkway Suite 312 T - 951.302.6499 F - 951.302.6975 www.NewmanTax.com Home Sales Feb 1, 2014 - Feb 28 2014 Status Address Beds Baths Square Feet Year Built List Price Sold Price Date Closed Days on Market Closed Sale 29819 Smugglers Point 3 2 1868 1990 $299950 $250000 2/28/2014 150 $ Per Square Foot $133.83 Closed Sale 29719 Longhorn 3 2 1428 1987 $289000 $276000 2/6/2014 80 $193.28 Closed Sale 22693 Canyon Lake 3 2 1668 1985 $270000 $277000 2/25/2014 127 $166.07 Closed Sale 30785 Burning Tree 3 2 1528 1986 $289900 $280000 2/28/2014 106 $183.25 Closed Sale 30157 Little Harbor 3 2 1538 1977 $288900 $285000 2/20/2014 205 $185.31 Closed Sale 29870 White Sail 3 2 1482 1983 $289000 $289000 2/21/2014 88 $195.01 Want to stay on top of the market? 3 Market Summary Table Real Market Reports You can have our 4 page extended report delivered automatically to your email inbox every week for free. Sign up at www.RealMarketReports.com BevinsGroup.com/get-market-reports Download updated market reports, neighborhood statistics, and even request a free market valuation for your home at www.BevinsGroup.com Closed Sale 29 173 Yosemite 3 2 1490 1985 $299000 $299000 2/20/2014 103 $200.67 Closed Sale 22711 Canyon Lake 3 2 1541 1976 $299999 $300000 2/25/2014 43 $194.68 Closed Sale 22883 Green Pine 5 4 3447 2003 $417000 $387000 2/26/2014 37 $112.27 Closed Sale 30710 Long Point 3 3 2361 1979 $429900 $425000 2/21/2014 138 $180.01 Closed Sale Status = [1] Active, Hold Do Not Show; [2] Pending Sale, Backup Offer; [3] Expired, Canceled, Withdrawn; [4] Closed Sale Area = Canyon Lake Type = Single Family Residence, Condominium 23295 Clipper 5 3 3765 1984 $438000 $425000 2/14/2014 74 $112.88 Closed Sale 30021 Big Range 4 3 2830 1988 $432500 $428700 2/24/2014 112 $151.48 Closed Sale 30019 Buck Tail 3 3 2615 1987 $467500 $462000 2/21/2014 83 $176.67 Closed Sale 29555 Vacation 2 3 2412 1972 $498000 $465000 2/13/2014 71 $192.79 Closed Sale 30271 Red Lure 3 2 1673 1976 $549000 $549000 2/28/2014 40 $328.15 Closed Sale 30760 Pyramid Point 5 4 3876 1990 $599500 $581000 2/28/2014 274 $149.90 Closed Sale 30295 Little Harbor 3 3 3689 2005 $725000 $725000 2/12/2014 32 $196.53 Information compiled from various sources including Multiple Listing Service. All information is deemed accurate by not guaranteed. Agent makes now warranties about accuracy or completeness of data. Download updated market reports, neighborhood statistics, and even request a free market valuation for your home at www.BevinsGroup.com