[quote=carlsbadworker][quote=paramount]
Talk to many who live in Temecula, and sooner or later most will say the following: we wanted to move to San Diego or we want to move to San Diego.[/quote]

That’s actually has been the question asked by many board members. Why have you not moved yet?

[quote=paramount]
My total mortgage is ~ $1600/month because I am in fact conservative, and very affordable as a % of my income. My taxes are barely over 1%.
[/quote]

Wait a minute. ~$1600/month is not that small. That is $300K loan at 5%. For a 1500sqft house, that’s too much. That just proves TG’s point that Temecula is bad for those who bought at the bubble years. If you instead only have $200K loan and you are able to refine at today’s approaching 4% 30-year fixed with FED’s help, then that’s only $1K per month. You will be able to close-to cash flow at this price. You can move to San Diego and leave this as a rental, and exactly Ren’s point.

[quote=paramount]
Temecula schools: not bad, not great either. They are average as far as I am concerned, nothing special.
[/quote]

I agree with this.

[quote=paramount]
Gangs: Yes, Temecula DOES have gangs. There was a gang murder just 2 months ago, look it up (my condolences and respect to the families). There has been plenty of gang crime and even gang related murder in Temecula. Go to pe.com and do your research.
[/quote]

No comment. Having lived in Brooklyn for a few years, I always don’t understand what Californian means by gangs.

[quote=paramount]
Basically no jobs
Long commute
Also, many of Temecula’s foreclosures/short sales were bought up by “investors” – on my street for example of about 30 houses, less than 10 are owner occupied.
[/quote]

I agree with all these and I think people do need to have rosy glasses in order not to see these bad sides of Temecula. In addition, the foreclosure and shortsales just kept coming up, not counting all the real hidden inventory (people who wanted to sell due to relocation, divorce, etc, but can’t afford at today’s price). On the other hand, brown lawn is definitely not as widespread as two years ago. I don’t know what’s the reason. I guess at least those who are foreclosed now at least can afford to pay water bills.
I therefore don’t think Temecula house price will appreciate further and faster at today’s price. Given the recent price increases, I don’t think they are particularly good for rental property as well. You get about break-even cash flow but no/little price appreciation (and possible price depreciation). So I don’t think one should look this way for investment opportunity. But buying as a replacement of renting does make sense. Because in worst case (if things didn’t work out for you), you can get out with break-even cash flow. That’s what you couldn’t do in most of San Diego.[/quote]

I bought early 2003, were those bubble years? I never even knew what a RE bubble was until around 2005~2006. The $1600 = PITI.

I bought for 270k and put 30k down (of my own hard earned dollars), I have been making payments (never even one day late) for almost 8 years now. I have nothing to show for it, nothing. It’s all gone. I never expected to ‘make’ money on my house, but I never expected it to be a liability either.

I told my wife this past weekend if there is some sort of August surprise and we are not offered any relief that we should positively walk.

It was my intention to move to San Diego this summer, closer to my office. This still may happen, it’s just difficult to do particularly with kids.