Ex SD, I didn’t see your post with all the action here so I failed to reply. When I first came to Temecula 17 years ago you could get a modest 1300 to 1900 sq ft for 120-160k, but 3700 sq ft for 190k, never saw it unless it was far away from temecula, the in town master planned stuff got as low as 160-190k but it was more like 2200-2500 sq ft. Even in the darkest days of the last market, location and amenities still played a role. And you heard stories of big houses in other parts of the country for 80k, I will say what I have always said, enjoy yourself, it’s not for me. So Cal R/E will fall but it will never fall to the levels of most of the country, the disparity will always be there and quite frankly I don’t want to live in Texas or Indonesia for that matter even though I can get a better deal on a house.
FLU, do i see sub 200k prices for Temecula, it all depends on the area and the size. 3700 sq ft, south Temecula within city limits, lets say Morgan Hill or Redhawk, that would be well below 1996-1998 levels, for something fifteen miles north, maybe but if the better locations get there, I’ll pay cash, hell i’d join the dark side and become a landlord at those prices.
