I don’t think it will ever be a ghost town or homes condemned…I think that’s even too bearish for me! Temecula is a really nice community for families still and will continue to be, I think the other areas of Riverside county will be hurt big time as Temecula goes down, more will be able to afford to live there…no incentive to live in the middle of nowhere in Hemet or Moreno Valley where people were pushed out to as they were priced out.
TG, Didn’t you post just a few days ago that you couldn’t believe the pace of the NOD’s coming in over the past days and week? How can you state that you think it would be bottoming out?
I hate to admit it but we’ve been actively looking, only in that our lease is almost up and we thought, well what the hell if we can lowball a screaming deal outta a bank, than we’ll do it. The spring bounce though has kinda put some breaks on our plan. All the homes in the high 200-low 300’s in Temecula have so many people touring, it’s like it’s boomtown again (at least from our observations). I’ve seen some other homes that were priced at lower per sq/ft than those posted.
What about this one at 100/sqft.? http://www.redfin.com/stingray/do/printable-listing?listing-id=1609827
It’s in Redhawk which is nice, but I guess it backs to a street, so not ideal location. This generated lots of interest.
From our observations the buyers that are out there in the lower price range jumping on these properties appear to be mostly first time homebuyers, maybe previously priced out and now are excited they can finally jump in, so they are. We personally believe that this will be a short wave of able buyers that will dry up as quickly as it started. Just not that many able buyers out there anymore….but only time will tell.
On another note, any ideas on how to search out if there’s a Foreclosure or NOD on a particular property around there?
Drove by this VERY vacant home and wondering what the deal is? Address: 44381 Coronado (or it may be Ynez address as it faces Ynez but driveway is on Coronado)
If you have any access and insight let me know!
