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  • April 1, 2008 at 9:24 AM #12308
    dharmagirl
    Participant

    Hello,

    We’re in one of those situations (I posted about this already). Home owner may be defaulting soon so we may only have 4-6 more months in our current rental home.

    Our choices are: 1) move to another rental or 2) buy.

    I know there are mixed feelings on this board about buying now but, in addition to the cost of moving, we are physically, emotionally and spiritually sick of moving (and renting). Both of our careers have necessitated too many moves (I’ve moved 9 times in 10 years). We’re also still newlyweds and would very much like to just put down roots and be settled into our own place.

    So, we started looking around in the Temecula area which is convenient for work.

    We found a place yesterday that we liked. We love the location. It’s on a huge, somewhat unique lot, smaller, 15 yr old tract home but would need a fair amount of cosmetic work (paint, carpet, window treatments and landscaping).

    It’s BANK OWNED and they are asking $455 for it. On the market for nearly 100 days.

    Our agent is telling us to offer $369, ask for 3% closing costs, replacements of termite damaged windows, doors.

    Does this seem fair? Or is it still too much? Agent will find out today if any other offers are pending.

    I know we could buy a newer home in Redhawk or WC for about the same but I prefer putting up wiht an outdated kitchen if I can have some space…

    Is there a magic “$ per sq foot” rule to follow in Temecula?

    Appreciate your sage advice, witticisms, etc.

    April 1, 2008 at 9:34 AM #179186
    mydogsarelazy
    Participant

    Hi Dharmagirl,

    Do you LOVE the house or are you indifferent to it?

    How many square feet is it?

    Realistically, what would you spend in cash to fix it up?

    Do you plan to stay at least ten years?

    What area/neighborhood is it in?

    If you aren’t absolutely in love with it Temecula is full of bargains.

    JS

    April 1, 2008 at 9:34 AM #179570
    mydogsarelazy
    Participant

    Hi Dharmagirl,

    Do you LOVE the house or are you indifferent to it?

    How many square feet is it?

    Realistically, what would you spend in cash to fix it up?

    Do you plan to stay at least ten years?

    What area/neighborhood is it in?

    If you aren’t absolutely in love with it Temecula is full of bargains.

    JS

    April 1, 2008 at 9:34 AM #179558
    mydogsarelazy
    Participant

    Hi Dharmagirl,

    Do you LOVE the house or are you indifferent to it?

    How many square feet is it?

    Realistically, what would you spend in cash to fix it up?

    Do you plan to stay at least ten years?

    What area/neighborhood is it in?

    If you aren’t absolutely in love with it Temecula is full of bargains.

    JS

    April 1, 2008 at 9:34 AM #179554
    mydogsarelazy
    Participant

    Hi Dharmagirl,

    Do you LOVE the house or are you indifferent to it?

    How many square feet is it?

    Realistically, what would you spend in cash to fix it up?

    Do you plan to stay at least ten years?

    What area/neighborhood is it in?

    If you aren’t absolutely in love with it Temecula is full of bargains.

    JS

    April 1, 2008 at 9:34 AM #179647
    mydogsarelazy
    Participant

    Hi Dharmagirl,

    Do you LOVE the house or are you indifferent to it?

    How many square feet is it?

    Realistically, what would you spend in cash to fix it up?

    Do you plan to stay at least ten years?

    What area/neighborhood is it in?

    If you aren’t absolutely in love with it Temecula is full of bargains.

    JS

    April 1, 2008 at 9:36 AM #179652
    meadandale
    Participant

    I think that $369k for a 15 year old smallish fixer upper (needs cosmetic upgrades) in Temecula is NO BARGAIN.

    If it was $269k then it would be worth talking about.

    0.02

    April 1, 2008 at 9:36 AM #179575
    meadandale
    Participant

    I think that $369k for a 15 year old smallish fixer upper (needs cosmetic upgrades) in Temecula is NO BARGAIN.

    If it was $269k then it would be worth talking about.

    0.02

    April 1, 2008 at 9:36 AM #179191
    meadandale
    Participant

    I think that $369k for a 15 year old smallish fixer upper (needs cosmetic upgrades) in Temecula is NO BARGAIN.

    If it was $269k then it would be worth talking about.

    0.02

    April 1, 2008 at 9:36 AM #179559
    meadandale
    Participant

    I think that $369k for a 15 year old smallish fixer upper (needs cosmetic upgrades) in Temecula is NO BARGAIN.

    If it was $269k then it would be worth talking about.

    0.02

    April 1, 2008 at 9:36 AM #179563
    meadandale
    Participant

    I think that $369k for a 15 year old smallish fixer upper (needs cosmetic upgrades) in Temecula is NO BARGAIN.

    If it was $269k then it would be worth talking about.

    0.02

    April 1, 2008 at 9:49 AM #179580
    dharmagirl
    Participant

    Actually, the kitchen is fine. House needs new carpet and paint for sure. The other stuff would be workable. It’s on almost 1/2 acre lot. We would plan to stay there for the long term and it’s spitting distance from Wine country (without being in wine country).

    We’ve looked a lot of homes – and I mean a lot – and the one thing we both HATE is the ‘crowded’ feeling. We’d be willing to put up with a few inconveniences for more physical space…and that is not easy to come by in Temecula where it seems most lots are in the 6000 sf range.

    We just dont want to buy a place and be immediately upside down….

    April 1, 2008 at 9:49 AM #179657
    dharmagirl
    Participant

    Actually, the kitchen is fine. House needs new carpet and paint for sure. The other stuff would be workable. It’s on almost 1/2 acre lot. We would plan to stay there for the long term and it’s spitting distance from Wine country (without being in wine country).

    We’ve looked a lot of homes – and I mean a lot – and the one thing we both HATE is the ‘crowded’ feeling. We’d be willing to put up with a few inconveniences for more physical space…and that is not easy to come by in Temecula where it seems most lots are in the 6000 sf range.

    We just dont want to buy a place and be immediately upside down….

    April 1, 2008 at 9:49 AM #179197
    dharmagirl
    Participant

    Actually, the kitchen is fine. House needs new carpet and paint for sure. The other stuff would be workable. It’s on almost 1/2 acre lot. We would plan to stay there for the long term and it’s spitting distance from Wine country (without being in wine country).

    We’ve looked a lot of homes – and I mean a lot – and the one thing we both HATE is the ‘crowded’ feeling. We’d be willing to put up with a few inconveniences for more physical space…and that is not easy to come by in Temecula where it seems most lots are in the 6000 sf range.

    We just dont want to buy a place and be immediately upside down….

    April 1, 2008 at 9:49 AM #179564
    dharmagirl
    Participant

    Actually, the kitchen is fine. House needs new carpet and paint for sure. The other stuff would be workable. It’s on almost 1/2 acre lot. We would plan to stay there for the long term and it’s spitting distance from Wine country (without being in wine country).

    We’ve looked a lot of homes – and I mean a lot – and the one thing we both HATE is the ‘crowded’ feeling. We’d be willing to put up with a few inconveniences for more physical space…and that is not easy to come by in Temecula where it seems most lots are in the 6000 sf range.

    We just dont want to buy a place and be immediately upside down….

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