Call Chas, our Chief Appraiser| (949) 574-5534
Friday, 15 June 2018 18:13

Bear Creek, Murrieta Appraisal, Economic Obsolescence

Written by
Rate this item
(1 Vote)

The Bear Creek neighborhood was made up of mostly good to excellent quality SFRs. The neighborhood was located in the guard gated community of Bear Creek which is situated around the Jack Nicholas golf course. Association amenities include guard gate entry; pool; spa; tennis; gym; meeting room. Living areas for sales over the past 2 years range from apx. 1,500 to 11,255 SF, average was apx. 4,391 SF. Lot areas were from 3,049 to 1,165,230 SF, average was apx. 220,176 SF. Days on the market was from 0 to 1364 and the average was 160 days. Sale/List price ratio was 95%.

There were 27 active listings in the Bear Creek development at the time of the appraisal and only 2 of those were pending sales. This represents an over supply of inventory in this market, however, values appear to be mostly stable and marketing times are reasonable to long. The current market conditions has adversely affected new building as the cost to build is greater than market value (Economic obsolescence). Of the 90 sales, listings, expired's and canceled listings over the past 2 years, the most recent year built was one house built in 2013 with the balance built prior to 2008. It appears that this market has not recovered from the recession of 2008.

Southern California

Find out more about the Southern California areas we serve

{Balboa Island}    {Orange County}     {Imperial County}     {San Bernardino County}     {California City}     {Kern County}     {Los Angeles County}     {Lancaster Palmdale area}     {Riverside County}     {San Diego County}     {Catalina Island | Avalon CA}     {Costa Mesa} {Irvine}     {Seal Beach}     {Garden Grove}     {Anaheim}     {Santa Ana}     {Laguna Beach}     {Lido Island Appraiser}     {Stanton}     {Newport Coast}     {Corona Del Mar}     {Long Beach}     {Malibu Appraisal}     {Huntington Beach}     {Southern California Gallery}     {leeperAppraisal Tours}

 

X
Help me find the best and most active REALTOR
  1. Please enter the best time.
  2. Invalid Input
  3. Please Include Your...
  4. Please provide the Firstname
  5. Please provide the Lastname
  6. Please provide valid Email Address
  7. Invalid Input
  8. Invalid Input
  9. Invalid Input
  10. Invalid Input
  11. Invalid Input
  12. Comments
    Please let us know your message.
  13. Capcha
    Capcha
    RefreshInvalid Input
X

Appraisal Fee Quote Form

Appraisal Purpose ?
Invalid Input

Type of Property?(*)
Invalid Input

Estimated Value?
Invalid Input

Which County?
Invalid Input

Type Appraisal needed?
Invalid Input

Inspection Type?
Invalid Input

Please give a short description of the property (BR, Bth, SqFt...)
Invalid Input

Comments?
Invalid Input

Who should we contact with the appraisal quote?

E-mail
Please provide valid Email Address

First name
Please provide the Firstname

Last name
Please provide the Lastname

Company
Invalid Input

Street address
Invalid Input

City
Invalid Input

State
Invalid Input

Zip Code
Invalid Input

Phone
Invalid Input

FAX
Invalid Input

Capcha
Capcha
RefreshInvalid Input

X