We just signed another year lease here in Temecula and are happy to be out of the desperately waiting and searching the mls every day stage that we have been in the last couple of months. I agree with hipmatt and others who think there is still a long way down to go. My concern is that after elections the interest rates will shoot up pretty quickly, but even with that considered I don’t think now is a wise time to buy.
Did anyone see the article in the North County Times yesterday that said:
“As of mid-April, lenders owned 449 foreclosed homes in Temecula and surrounding areas that share its three ZIP codes, and an additional 1,000 homes were in earlier stages of the foreclosure process, according to Foreclosureradar.com, a subscriber service that tracks foreclosures statewide.
Lake Elsinore, a smaller city, had 423 lender-owned properties and nearly 1,000 others in foreclosure. Murrieta and areas just to the east and west of that city had 691 foreclosed homes and an additional 1,400 on the way, according to the service.”
Does anyone have evidence that supports or refutes these figures? If they are correct, then waiting longer can only bring better deals as the banks fight it out…
