Canyon Lake Real Estate News and Information

Local real estate news in the Greater Inland Empire real estate market: Home prices and trends in Canyon Lake, Menifee, Lake Elsinore, Murrieta, Temecula and the local region. Published by Justin Bevins, Associate Broker with Berkshire Hathaway Home Services - California Properties.


July 1, 2019

Is Summer 2019 the Best Time to Finally Sell Your Canyon Lake Home

5 Reasons to Sell Your House This Summer

5 Reasons to Sell Your House This Summer | MyKCM

Here are 5 compelling reasons listing your Canyon Lake home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Index  from the National Association of Realtors (NAR) shows that buyer demand remains strong throughout the vast majority of the country. These buyers are ready, willing, and able to purchase… and are in the market right now! More often than not, multiple buyers are competing with each other for the same home.

This is especially true in Canyon Lake, where we've seen continued appreciation and price gains for the last several years and available home inventory still remains relatively low - both characteristics of a Seller's market.

2. There Is Less Competition Now

Housing inventory is still under the 6-month supply needed for a normal housing market. This means that, in most of the country, there are not enough homes for sale to satisfy the number of buyers.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. Many homeowners have a pent-up desire to move, as they were unable to sell over the last few years due to a negative equity situation. As home values continue to appreciate, more and more homeowners are granted the freedom to move.

Many Canyon Lake homeowners were reluctant to list their home over the last couple of years for fear that they would not find a home to move in to. That is all changing now as more homes come to market at the higher end. The choices buyers have will continue to increase. Don’t wait until additional inventory comes to market before you to decide to sell.

3. The Process Will Be Quicker

Today’s competitive environment has forced buyers to do all they can to stand out from the crowd, including getting pre-approved for their mortgage financing. Buyers know exactly what they can afford before home shopping. This makes the entire selling process much faster and simpler. According to Ellie Mae’s latest Origination Insights Report, the time to close a loan has dropped to 43 days. (Last numbers available.)

4. There Will Never Be a Better Time to Move Up

If your next move will be into a premium or luxury home, now is the time to move up! The inventory of homes for sale at these higher price ranges has created a buyer’s market. This means that if you are planning on selling a starter or trade-up home, it will sell quickly, AND you’ll be able to find a premium home to call your own!

According to CoreLogic, prices are projected to appreciate by 4.8% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

5. It’s Time to Move on with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to these questions. You have the power to take control of the situation by putting your Canyon Lake home on the market. Perhaps the time has come for you and your family to start living the life you desire.

If we can help answer any questions or provide an equity analysis of your current home, please get in touch.

Justin Bevins
BHHS-California Properties



Posted in Selling a Home
June 27, 2019

Canyon Lake Home Inspections - What to Expect

Know what to expect at your home inspection

Know What to Expect at Your Home Inspection | MyKCM

So you made an offer and it was accepted. Now, your next task is to have your future Canyon Lake home inspected prior to closing. Agents oftentimes make your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price you paid for the home, ask the sellers to cover repairs, or in some cases, to walk away. Your agent can advise you on the best course of action once the report is filed.

Think of the home inspection as an affordable insurance policy to keep you from buying a money pit.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. HGTV recommends that you consider the following five areas when choosing the right home inspector for you:

1. Qualifications – find out what’s included in your inspection and if the age or location of your home may warrant specific certifications or specialties.

2. Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. In most cases, the more detailed the report, the better.

3. References – do your homework – ask for phone numbers and names of past clients who you can call to ask about their experiences.

4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that continued training and education are provided.

5. Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human, after all, and it is possible that they might have missed something they should have seen.

Ask your inspector if it’s okay for you to tag along during the inspection or come towards the end of the inspection for a walk-through. That way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof or crawling around in the attic and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace and chimney, the foundation, and so much more!

Bottom Line

They say, ‘ignorance is bliss,’ but not when investing your hard-earned money into a home of your own. Work with a professional who you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase.

Posted in Buying a Home
June 26, 2019

Want to Make a Move to Canyon Lake? Get Pre-Approved

Stop wondering what your budget is & get pre-approved!

Stop Wondering What Your Budget Is & Get Pre-Approved! | MyKCM

I often see buyers delay getting pre-approved for a mortgage to buy a home in Canyon Lake.  As you might know Canyon Lake homes are often at higher price points than other parts of Riverside County.  For many buyers trying to move into Canyon Lake the pre-approval process is daunting, but it's necessary to know what you can really afford.

In many markets across the country, the number of buyers searching for their dream homes outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show that you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are not in an incredibly competitive market, understanding your budget will give you the confidence of knowing whether or not your Canyon Lake dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local Canyon Lake real estate professional is that many have relationships with local lenders who will be able to help you through this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show Canyon Lake home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential homebuyers overestimate the down payment and credit scores necessary to qualify for a mortgage. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so today.  Getting the home you want in Canyon Lake may be easier than you think.

Let us know if we can help.

Justin Bevins
BHHS-California Properties

Posted in Buying a Home
April 27, 2018

Canyon Lake Market News-April 27, 2018

April 2018 Home Sales Pretty Disappointing So Far

Canyon Lake April 2018 Home SalesHome sales in Canyon Lake started off pretty slow this year like they usually do but unfortunately never really picked up speed.  Compared to April 2017 which saw 27 closings, this April so far has only produced 13 closed sales.  the month isn't over yet, but there are only a few days left so we're not likely to catch last years numbers.

In fact, it looks like April 2018 might end up being the worst April of this decade in Canyon Lake for closed sales as you can see from the totals below:

April 2018 - 13 Closed Sales
April 2017 - 27 Closed Sales
April 2016 - 16 Closed Sales
April 2015 - 33 Closed Sales
April 2014 - 26 Closed Sales
April 2013 - 32 Closed Sales
April 2012 - 20 Closed Sales
April 2011 - 17 Closed Sales
April 2010 - 20 Closed Sales


Is The Canyon Lake Market Slowing Down?

Does this mean the market in Canyon Lake is slowing down?  Probably not.  There are currently 48 homes under contract or in escrow currently in Canyon Lake so it's more likely just a matter of timing.  There are a few more available homes on the market this month, but our inventory of available homes is still historically low.

And our average "Days on Market" and "Months Supply of Homes" are currently at a 10 year low which indicates the market is pretty hot right now.  The weak sales in April might be more a result of a poor selection of available homes in the most popular price ranges which is keeping buyers from writing offers.

But get ready because May is typically a strong month in Canyon Lake every year and is generally regarded as the kickoff to the summer selling season.  And according to a recent study by ATTOM Data Solutions published in REALTOR Magazine, May is the Luckiest Month for Home Sellers offering the highest sales prices nationwide.

So, if your home is currently listed and hasn't sold, don't despair as activity is likely to pick up.  And if you're thinking about putting your home on the market let's talk about the best timing to get you the highest possible sales price. 

Thanks for checking in, let us know if you have any questions.



Enjoy your weekend and don't hesitate to give us a call if you would like to see some properties.


Download Our Annual Canyon Lake Home Sales Report

Want to be on top of the market in Canyon Lake so you be smarter buyer or seller?  Start with our annual homes sales report which maps out the market for Canyon Lake every year.

Click Here to Download

Posted in Market Reports
April 6, 2018

Canyon Lake Market News-April 6, 2018

April Sales Start Off Slow

As is typical, April home sales in Canyon Lake are off to slow start.  We see this every year as we approach the tax filing deadline.  Spring Break usually has a bit of a slowdown effect as people are vacationing with the family instead of shopping for homes.

There were only 2 closed sales for the first week of April.  There were 9 new listings this week and we currently have 100 homes available for sale in the community. 

6 homes went under contract this week, making our total pending home sales 39.  There were 7 downward price adjustments in the community this week.

Our median and average sales price are at 10 year highs and we're nearly at levels not seen since 2007.  The sale of several high dollar waterfront homes have helped to drive up the averages and prices overall continue to tick up as the number of available homes remains low.




Enjoy your weekend and don't hesitate to give us a call if you would like to see some properties.


Download Our Annual Canyon Lake Home Sales Report

Posted in Market Reports
April 3, 2018

Not Owning Your Home can Cost You a Lot of Money.

Canyon Lake Couple in Kitchen

Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed. recently reported that:

Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option… as people get more savings in their pockets, buying becomes the better option.”

What proof exists that owning is financially better than renting?

1. The top 5 financial benefits of homeownership:

  • Homeownership is a form of forced savings.
  • Homeownership provides tax savings.
  • Homeownership allows you to lock in your monthly housing cost.
  • Buying a home is cheaper than renting.
  • No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. A family that purchased an average-priced home at the beginning of 2018 could build more than $44,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.

And it may be easier than you think to qualify for a mortgage to purchase a home.  Call us today at 951-326-0521 to find out how.

Posted in Buying a Home
March 30, 2018

Canyon Lake Market News-March 30, 2018

Month End Finishes Strong

It's March 30th and pretty much the end of the month for real estate closings.  So far this month 23 homes have closed and recorded and there might be a few more that come in by the end of the day given that there is currently 35 homes under contract.

Just 8 new listings this last week and the total number of homes for sale in Canyon Lake is just about 100 homes which has been pretty constant all month.

Now the month is over we can see how it compares to March of last year. 

March 2018 - This March, 23 homes sold at an average price of $415,893 in an average of 51 days.

March 2017 - Last March, 26 homes sold at an average price of $416,346 in an average of 104 days.

You can see that prices haven't risen much year over year but homes are selling in half the time, which will lead to higher prices as we move into Summer.

That's it for the market report, enjoy your Easter weekend and we'll see you next week!

Enjoy your weekend and don't hesitate to give us a call if you would like to see some properties.


Weekend Events

There are a few fun events in the community this weekend:

Bad Dancers at the Lighthouse | Saturday March 31st, 7:30pm- 10:00pm @ Lighthouse Restaurant & Bar

One of Canyon Lake's most popular classic rock bands, these guys never disappoint the crowd with their high-energy and captivating performances that gets the entire crowd dancing. If you've never experienced a Bad Dancers performance, now it's your chance to enjoy and see what makes this band unique and special to Canyon Lake Residents. Simply an amazing Canyon Lake show!

Country Club Easter Brunch | Sunday April 1st, 9:00am - 3:00pm @ Canyon Lake Golf & Country Club

Hop on over to the Canyon Lake Country Club Bar & Grill for an Easter Brunch Buffet from 9 a.m. to 3 p.m. with egg hunts throughout the day. The buffet is $27.95 per adult and $12.95 per child age six to 12 and children five and younger are free with each paid adult. The buffet is going to include many breakfast and lunch favorites such as a waffle station, omelet station, various salads, and assorted desserts. For those over the age of 21, the popular Bloody Mary Bar will be available during this event for $13.50 per person and there will also be $4 mimosas and $10 champagne bottles. Reservations are highly recommended.

Easter Brunch at the Lodge | Sunday April 1st, 10:00am - 2:00pm @ The Lodge

The delicious brunch features an omelet station, breakfast pastries, carving station, salads, a variety of desserts and much more. Reservations are recommended and can be made by calling 951.244.6841 x771.

Lioness Club Bingo | Sunday April 1st, 1:00pm @ The Senior Center

The Lioness Club hosts Bingo game days at the Senior Center each month. Games are usually scheduled on the first and third Sundays of each month at 1 p.m.

Download Our Annual Canyon Lake Home Sales Report

Posted in Market Reports
March 23, 2018

Canyon Lake Market News-March 23, 2018

Mid Month Slowdown

Well, there's only one week left in the month and only 13 homes have closed so far this month so we have a lot of ground to make up if we're going to see the 25-30 homes we normally expect to close in March each year.

The good news is that there are 42 homes under contract currently and month end is often a time when several closings occur so it might still be a great month for home sales in Canyon Lake.

10 new listings this week has the amount of available homes sitting at just under 100 so selection for buyers is still pretty good, but it is primarily a sellers' market with prices still on the rise.

Enjoy your weekend and don't hesitate to give us a call if you would like to see some properties.


Weekend Events

There are a few fun events in the community this weekend:

Easter Egg Hunt & Carnival | Saturday March 24th, 10:00am- 2:00pm @ Holiday Harbor

Join the Family Matters Club for their fourth annual Easter Egg Hunt & Carnival. The event will be full of games and crafts, face painting, fun, and other surprises. All inclusive fun bands are $5 per kid and includes unlimited games, prizes, crafts, jump house, face painting, tattoos, photos with the Easter Bunny, and participating in the egg hunt. There will be food for purchase and a vendor shopping section for Easter gifts and goodies.

Kenny Marquez Rock Experience | Saturday March 24th, 7:30pm - 10:00pm @ Lighthouse Restaurant and Bar

Join us for an electrifying rock experience featuring the talented Kenny Marquez live at the Lighthouse! Kenny will enchant the audience with his array of rock and popular cover songs from all eras. His show is a fun and interactive show that entertains the crowd.

Potluck & Music | Sunday March 25th, 5:00pm @ The Senior Center

Join your fellow Canyon Lakers for some music, dancing and food at the Senior Center.

Download Our Annual Canyon Lake Home Sales Report

Posted in Market Reports
March 16, 2018

Canyon Lake Market News-March 16, 2018

As predicted, mid March is picking up and creating a great foundation for a strong Spring Canyon Lake Real Estate Market.

There were 10 new listings, same as last week so that's helping to build the inventory so buyers have a little more selection.  We have just under 100 homes for sale in Canyon Lake as of today, which is still low and still creating a seller's advantage in the market.  But it's more active inventory than we had most of 2017.

We saw 6 homes go into contract this last week and 5 closed escrows.  At this pace we should close 25-30 homes this month, which will make for a good March historically. 


Celebrate St. Patrick's Day at the lodge Saturday from 5:00pm to 10:00pm with all the traditional Irish pub fare and  a few fun drinks as well.  You've Sunday bingo at 1:00 at the Senior Center sponsored by the Lioness Club.

Canyon Lake St. Patricks Day

Enjoy your weekend and don't hesitate to give us a call if you would like to see some properties.



Download Our Annual Canyon Lake Home Sales Report

Posted in Market Reports
March 9, 2018

Canyon Lake Market News-March 9, 2018

March started off strong this year with 7 closed sales already in the first 9 days.  There were 3 homes that went into escrow this week and there are currently a total of 24 homes under contract so that bodes well for a strong March and likely April too.

There were several new listings this last week (a total of 10), which indicates that Sellers are warming up the market for Spring.  Only a few price adjustments this last week as the market waits see how the next few months go.

Here's an interesting statistic: Canyon Lake's Average Days On Market is at it's lowest level in the last 10 years.  Homes are selling faster now than in the last decade as you can see from the chart below.  If you're a seller wanting to move quick, this is the best it's been in a while.  Call us if you're thinking of listing and we can walk you through the process and provide a free equity analysis.

Canyon Lake Homes Average Days on Market

Looks like the weather is going to be good this weekend for the Spring opening of the pool.  The water is heated so get down there and enjoy it before the summer crowds start to roll in.  While you're in teh vicinity of the lodge, check out the local tennis players in the club tourney on Saturday.

Enjoy your weekend and don't hesitate to give us a call if you would like to see some properties.



Download Our Annual Canyon Lake Home Sales Report

Posted in Market Reports