23109, If you bought in the right neighborhood of Temecula, and can stick it out, you’ll end up ok. Let’s say your mortgage with hoa and prop tax is about 2500-2800, and you are getting a minimum tax break of $500, that means you are basically renting your house for about $2000-2300. I say renting because the notion of home ownership is essentially flawed, you are simply acting as a landlord for the bank that owns your home. Could you rent a larger, nicer home in Temecula for the same amount? Yes.
What you are paying the extra dough for, is security. It is very difficult to find an ideal rental in that area that will not be a foreclosure risk. Most “investors” in the area are not true investors, are leveraged, and are ill prepared for the future.
So if you do have a family, you bought security. Would you have been better off to wait? Sure, but what is done is done, now you settle in for the long haul. Enjoy the new library, go to breakfast with Santa at the Rancho center, enjoy the wineries, don’t gamble but do party at Pechanga (do not expose your kids to this however) and when you do go out to eat support your community and go to the independent restaurants. Go to Richies on a weekend morning or during the early dinner special, and let your kids mingle with the seniors. Same with other merchants and businesses, when you can support them. They are hurting, and they need the help. And they will thank you for it, and when you see them around town it will be friendly. That’s the true beauty of Temeucla, the feeling of community.
Contrary to what Paramount is saying, and attempting to generalize bears on these sites as looking out for their own interests, sure there can be truth to that in many cases. Many people on these and other housing sites were left out in the bull run and want to see it crash. That’s the nature of our society, there are winners and losers. And the losers want to see the winners lose.
On that note, why are we here? No matter your faith, or background, there are basic, universal tenets- and they include:
-Provide for and protect your family
-Be good to your fellow man
For those that pay attention, and listen to what is happening here, saving $50-100k on their home purchase or more, and the resulting savings in payments can make a big difference. Buying in the right neighborhood can lead to a more enjoyable life.
The financial disaster as a result of bad RE decisions that some have faced, are facing, and will face can be disastrous to their future.
Most people do not have access to a financial windfall, and the ability to get there more than once in a lifetime. They work hard, save, and do the best they can. Taking a big hit on paper or realized is not easy for most to overcome.
There is a significant human toll, and it is unfortunate.
We may have fun talking trash, but some of us are trying to help others not make a mistake.
The rich are getting richer at a faster rate than ever, with the disparity growing and the middle class disappearing. It is a tough road for the average joe.
There are many with money who are unscrupulous, and care only for their own concerns. I joke about Wolf Creek, but it is a perfect and likely target for those who will scoop up and bottom feed in the next few years, rent it out to anyone, perhaps even importing tenants (If anyone here is really in the know, they will know what I am talking about)let it go to hell while they are renting, then in the next cycle 10 years later, evict, renovate, and sell for a profit.
Temecula and Murrieta, as far out as they are, can be great places to live, and they are. Making sure you are in the right area, and at the best price possible is everything, and IMO more critical than just picking any neighborhood in a more centrally located city, such as an RB, or an HB or something like that.
