- This topic has 96 replies, 17 voices, and was last updated 17 years, 5 months ago by
Bugs.
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May 26, 2007 at 10:07 PM #9166May 26, 2007 at 10:29 PM #55149
FormerOwner
ParticipantTo everyone predicting a 50% drop, some areas are more than half way there already!
May 26, 2007 at 10:29 PM #55166ParticipantTo everyone predicting a 50% drop, some areas are more than half way there already!
May 26, 2007 at 10:34 PM #55151hipmatt
ParticipantAre you sure that house was going for $650k plus?
May 26, 2007 at 10:34 PM #55168ParticipantAre you sure that house was going for $650k plus?
May 27, 2007 at 12:11 AM #55157ParticipantYes, here’s an example per cyberhomes.com:
http://www.cyberhomes.com/propertydetails.aspx?propid=61497190&bhcp=1
xx876 Sandpiper Ln, Temecula, CA 92591
4/28/2006 Sale Price: $686,000This house was bought by an investor who has been trying to sell it, chasing the market down. It appears not to be on the market anymore so I’m not sure what’s going on.
And, actually, there are other houses in the same tract that are even DEEPER underwater. Check out the comps on cyberhomes.com. The range of sale prices for this model last year was 632K – 789K. That same exact model is now going for 453K. 789K vs 453K is a 43% price difference or 336K. Now the 789K house probably had a lot of upgrades but I doubt that it would sell for anything over the 400’s now that the builder is selling the new ones for 453K. That 789K house is probably close to 300K underwater, I would guess. Incredible!
May 27, 2007 at 12:11 AM #55174ParticipantYes, here’s an example per cyberhomes.com:
http://www.cyberhomes.com/propertydetails.aspx?propid=61497190&bhcp=1
xx876 Sandpiper Ln, Temecula, CA 92591
4/28/2006 Sale Price: $686,000This house was bought by an investor who has been trying to sell it, chasing the market down. It appears not to be on the market anymore so I’m not sure what’s going on.
And, actually, there are other houses in the same tract that are even DEEPER underwater. Check out the comps on cyberhomes.com. The range of sale prices for this model last year was 632K – 789K. That same exact model is now going for 453K. 789K vs 453K is a 43% price difference or 336K. Now the 789K house probably had a lot of upgrades but I doubt that it would sell for anything over the 400’s now that the builder is selling the new ones for 453K. That 789K house is probably close to 300K underwater, I would guess. Incredible!
May 27, 2007 at 12:25 AM #55176temeculaguy
ParticipantThe wave is moving south as predicted. While I have never been a fan of KB, these are barely in the french valley, they are south of murrieta hot springs road. Unlike the dr horton’s that were the first to slash prices, these are in the temecula school district, they aren’t all the way up off scott road like horton and look to be close to Nicholas Rd and Chapparal High. Still too far north for me but I am blown away that is has moved close to town so quicly.
Holy crap, 2,675 sq ft. one story SFR for 399k and it’s not even summer. Move that thing five miles south and I would seriously be tempted. If you’ve got a house to sell in that area start buying your depends at costco because you are going to be craping your pants more and more as the builders undercut you by 25% or more.
May 27, 2007 at 12:25 AM #55159ParticipantThe wave is moving south as predicted. While I have never been a fan of KB, these are barely in the french valley, they are south of murrieta hot springs road. Unlike the dr horton’s that were the first to slash prices, these are in the temecula school district, they aren’t all the way up off scott road like horton and look to be close to Nicholas Rd and Chapparal High. Still too far north for me but I am blown away that is has moved close to town so quicly.
Holy crap, 2,675 sq ft. one story SFR for 399k and it’s not even summer. Move that thing five miles south and I would seriously be tempted. If you’ve got a house to sell in that area start buying your depends at costco because you are going to be craping your pants more and more as the builders undercut you by 25% or more.
May 27, 2007 at 5:44 AM #55165waiting hawk
ParticipantDid I or did I not say French Valley would be too easy? lol.
“Holy crap, 2,675 sq ft. one story SFR for 399k and it’s not even summer.”
I said the same thing when I first read it.May 27, 2007 at 5:44 AM #55181ParticipantDid I or did I not say French Valley would be too easy? lol.
“Holy crap, 2,675 sq ft. one story SFR for 399k and it’s not even summer.”
I said the same thing when I first read it.May 27, 2007 at 6:10 AM #55167Cow_tipping
Participant2675 sqft at 399K and the builder is still clearing over 100K easy … easy peasy. They can cut it to 250K before feeling any pain at all I’ll bet. And guess what, that’s exactly where its going.
Cool.
Cow_tipping.May 27, 2007 at 6:10 AM #55184Participant2675 sqft at 399K and the builder is still clearing over 100K easy … easy peasy. They can cut it to 250K before feeling any pain at all I’ll bet. And guess what, that’s exactly where its going.
Cool.
Cow_tipping.May 27, 2007 at 6:14 AM #551694plexowner
Participant23109VC – where’s Temecula’s housing advocate?
Your city needs you
Still don’t believe an $800K house in Temecula can become a $200K house?
Maybe you can play your escrow game for $200K instead of the $25K you mentioned
May 27, 2007 at 6:14 AM #55185Participant23109VC – where’s Temecula’s housing advocate?
Your city needs you
Still don’t believe an $800K house in Temecula can become a $200K house?
Maybe you can play your escrow game for $200K instead of the $25K you mentioned
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