I see the logic from both ends here, but the difference is that TG is buying in one of the most depressed home markets in this country, while its neighbor sits positioned to fall at a greater rate in the next year or so, IMHO.
There are very few desirable places in San Diego where you can get a mortgage for $1,700/month with 0 down. That said, I don’t necessarily think that Temecula is a bad place to live. I just don’t think it is very practical to many who work in San Diego.
My recommendation is to rent a home near the beach for the next year or so and enjoy yourself before you decide to pull the trigger. Make sure to lock yourself into a lease so you don’t have these sudden urges to buy a home.
TG, good luck with the purchase. I had a chance to check out the area recently and I was shocked not only at how overbuilt the city is now, but at level of home values.
