Menifee’s Present, Past and Future

John Denver Menifee’s future looks really positive. The worst of the housing crisis is past. We are ...

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John Denver
Menifee’s future looks really positive. The worst of the housing crisis is past. We are recovering nicely. Our housing prices are bouncing along the bottom. The average price of a home in Menifee is about $175,000. This is half of prices at the peak. The reasons prices are not increasing is consumer confidence, jobs and federal policies.

We are a little bit cheaper than our friends to the south, Temecula and Murrieta. Their average sale prices are above $250,000 now. We are cheaper than Wildomar and Canyon Lake. Perris and the Hemet area have cheaper priced homes. Because of our prices, our properties have the best chance of increasing in value of most of the surrounding areas.

Bank owned properties are 27% of closed escrows, short sales are 46%, standard sales are 27%. Notices of defaults (foreclosure notices) are down nearly 40%. The numbers of distressed properties on the market are down over 65%. But standard sales are up and that is a good sign. More and more first time buyers are getting into the market. Investors are too.

The future of housing market prices in Menifee is good. They should be doubling in 5 years or so (my guess). More and more builders will build homes and a different type of home. The old 7,500 square foot lot is not in so much demand today. Young people and retirees want smaller, easier to care for properties. We will become a more upscale, suburban city. We will have a downtown with upscale restaurants and stores. We will have several areas with large lots with upscale homes. We will have some high-density areas too.

The city is having growing pains. We have a new city manager now and I believe you will see many improvements soon. I think, as does all the councilmembers, that we all need to work together so that the city develops correctly.

The general plan is being developed now so we have a map of where things should be placed. It is an exciting time! The future of Menifee is being placed on paper! We will have industrial and commercial areas. We need to understand what infrastructure we need and when we need it. The general plan helps with this.

Come to City Council meetings, Planning Commission meetings and see what is happening. Participate if you can.

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  1. I own a small business in the hub of Menifee and welcome more residential homes and also more upscale restaurants as well as more activities to do in the town.

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  2. We don't need more industrial and commercial areas. We need more professional jobs in Menifee, and SW RivCo in general. I'm tired of driving to OC or SD for a white collar job, I want to work closer to home but there aren't many jobs. If we can attract more professional jobs to Menifee it will help home prices move up even faster.

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  3. "The future of housing market prices in Menifee is good. They should be doubling in 5 years or so (my guess)."

    In 5 years the average price for a home in Menifee will be $350,000????

    You may want to take another guess.

    ReplyDelete
  4. We need the commercial and retail businesses for the sales tax and jobs before we need more rooftops. How can we have a rural area with open spaces if we become an upscale urban City? this is the vision of most of the citizens of Menifee. I do not want to see another Orange County with rooftops and high density areas. The infrastruture will not handle the traffic that homes will create. We already have Audey Murphy Ranch, the KB homes and Fleming Ranch plus the new town center denisty. Without jobs to support roof tops who will purchase them. John you need to think of Menifee first as a Citizen and councilman not a Realtor.

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  5. Dave said...
    "We don't need more industrial and commercial areas. We need more professional jobs in Menifee"

    Really Dave, in what zones do those places exist? You may want to reconsider your thought process. Theres only one general zone left and thats residential.....you aren't going to see professional jobs there..

    People need to realize though, without more rooftops and clientle to support them, commercial is going to have a hard time looking at Menifee. I feel this lends itself to Menifee's staff finding some special niche and higher quality places...not more jack in the box's and subways.

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  6. It seems to me, in my very limited experience, that the City does not solicit businesses to come to Menifee, but zone appropriately to attract businesses. The City government cannot hold out on a building in which a furniture store wants to bring their business, simply because residents want a bowling alley. If residents want a certain business to come to Menifee, contact that business yourself, or build it yourself.
    I personally don't understand the mentality of residents who believe the City Council seeks out Jack in the Box to come and build more locations in Menifee. Of course the City Council wants a good balance of residential and commercial; of course they want a variety of jobs to come to Menifee; of course they want tax revenue and funds for infrastructure! Go to any City Council meeting to see them try to accomplish this at EVERY MEETING! I'm there; are you?

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