Here is an example of the last down turn in Temecula. There was a 10 acre equestrian property in the De Luz area, with a nice home and nice facilities. It went on the market for $850K. At that time, this was a pretty high price. One year later I put an offer on it for $225K. My offer was too late. It actually sold for $220K. Be patient. Temecula and Murrieta will again be hit hard. Sure there’s more going on there now, but it’s also way over built. As prices go down in Escondido, San Marcos, and Oceanside, San Deigo commuters will be attracted to those areas. I bet the percentage of people who live and work in the Temecula area is pretty low. Again, be patient. No one knows how low it will go, but I doubt we’re near the bottom yet.
