I’m gone a week and look at all these Temeculans taking my place, throwing down the facts. I’m proud and at the same time I realize how dispensable I am, someone always steps up. Pizza, Bear, TemekuT, nice work. But you illustrate why there will be support at some level for the good stuff. It is true that to San Diegans, they think all of Temecula is what they see in French Valley but those of us who have been here for a while know that there is a 10 degree temperature difference, a socio economic difference and a traffic difference. Sure they can claim there are no jobs, but they ignore the facts, the census data and lack the first hand knowledge. I’m with you bear, renting in Redhawk, watching it crumble but knowing full well that I’m not the only one who recognizes South 79 as a cut above. If cars suddenly lost half their value, guess what, everyone will want to upgrade to that BMW and not everyone is leveraged or laid off. There is more than a quarter of a million people up here and when things hit bottom, Morgan and Redhawk will recover first and find support first, so be on your toes or I’ll beat you to it. I doubt you’ll get 4000+ sq ft in Morgan sub 300 because there aren’t that many, probably less than a hundred were built but you will get 3500+ sq because it is more common, Sattui in Morgan will be first to hit that level with asking prices of 450k for repos next to 750k resales, that’s just going to cause more repos and on my last drive through a third of the lawns were brown and the 450k repos weren’t selling. The point is, location and quality has a price in any market and if you can get that price, the rest of the valley will still be 100k less. Smaller, older homes will be even less, at some point a house cannot be worth $200 and affordability for every Costco employee will not be a 4000 sq ft in the premier area, so things will separate themselves and there will be a bottom, ultimately, so no, you won’t get it for 300k because I will have already bought it at 305k and I fear the other guy at 310k because fundamentally that is extremely sound, maybe too sound.
