Unequivocally, Temecula is the best city in the IE to live in. Hands down, from infrastructure to geography and beyond.
In regards to Morgan Hill, having lived and owned there in multiple homes, and previously planning to make that the long term permanent home, IMO nicest of the tract neighborhoods in Temecula.
That being said, it is far from impervious. Look at the war zone on Mumm street, which was featured on LA’s channel 4 back in the summer as a street gone bad due to foreclosures. The streets where Shea developed- there’s a REO deal there at cheaper than 2004.
(if these links dont work, go to the site and search under foreclosures-its on the 2nd page of results)
Tudal street has had foreclosures and dead lawns abundant since the beginning of the year, with the exception of the house that put astroturf in the front yard (not the good fake grass, astroturf)
McMillin does not have as deep of pockets as one may think, and though they have been trying to sell off inventory by cutting prices, wait till all those poor people who got snowed in 05 and 06 and 07 at peak prices have their 5 year ARMs end.
For those of you perusing this site with any inkling of buying, make sure it is your DREAM home. Remember the trickle down theory- the pain the major institutions are going through have yet to fully makes its way to us, and we are the ones who always pay the price.
I will buy back in Temecula as an investor, and to have a second home. One will likely be in Morgan Hill, have cash ready, and will pay no more than $300k for a 4000 sq ft home.
It’s already happening in Tuscany Hills of Lake Elsinore, which is(was) a very nice area in the wrong city. Would never buy there again though.
The crash is going to come hard, it’s tough to hear, but it is reality. Friends in the area who still own, have equity lines with 0 balances that were received at near peak value, they are prepared to use that money wisely to combat the loss in value they will get hit with. Perhaps buy something at the bottom (2010-2013 by most educated analysts prediction) sell on the next upswing on the investment property and be at a breakeven with their current home.
Just rent in Morgan Hill, 3000+ sq ft home, dont pay more than $2k.
