Confused, you should rent. Get out while you still can and jump back in a year or two, you should be able to make a seamless jump (buying in the better area for close to what you sell for now). Things won’t likely fall 50% there but 10% a year for 2 years is very realistic.
Mostdmk, it may be too late for you. Since you can’t afford the payment, price aggresively. Check the other boards, Murrieta has fallen to pieces in the last two weeks. Builders are cutting prices by 20%+, in 100k chunks. There is an avalanche of foreclosures in the pipeline in Murrieta from the nationally publicized real estate scam there, it’s currently has the third highest rate of late mortgage payments in the state. Hurry.
