i was laughing to myself as I read the “comments” about my indecisiveness. 🙂 I can take a hint… 😉 I’ll stop my OCD posts about my dilemna.
as to the subject of THIS thread…. the outlying areas in Riverside are truly dumps. Hemet is a big fat NO WAY. drive though downtown Hemet ONCE and you’ll NEVER buy anywhere near that place. think crack heads, hookers, on every corner… the new houses are far enough away that naive buyers won’t see it…but go into OLD Hemet…and it’s not nice.
Some areas of Winchester are nice looking, but location wise you are IMHO too far up winchester road..such that if you want to get back down to SD, you will spend a good solid 10-15 min fighting traffic, or longer if it’s bad traffic – just to GET to the freeway.
given i live and work in Temecula/Murrieta – I could justify anythign in the area…but for resale purpses…i think you want to be more centrally located with better freeway access.
100k price drops are nice to see. i wonder how much lower it will go. i’m not trying to drudge up my own issue yet once again..but to use it as an example..mylandlord is a fairly savvy investor from OC….and he’s unloading it at a loss…. if he had any inkling of a market recovery..or thought he could list it on the open market and quickly sell…at even the sampe price plus a small realtor commision, he’d tell me to F off and sell on his own. the ONLY reason he is even offering it to me at theprice he did is b/c he thinks that his BEST scenario. if i say no, he will walk way with LESS cash. and he knows it…
so not only are the builders slashign prices..but the investors will either slash prices take their loss, and if they aren’t financially solvent enough to weather a loss like this, they will walk and we will continue to see rising foreclosures.
the poor guy who bought in 2004 or 2005 and wants to sell will have no way to compete with the builders and the investors who slash prices and the short sales… so they will either lose the home if they are priced out of their ARM or they will be forced to sit tight and ride out a bad market… i know people who did that in the late 80s…bought and then lost money and had to live in thehosue for about 10 years to “break even”..
