$200K price drop on house…what’s going on in Temecula?

[paramount]

I have been looking to move into a larger house for the last year or so, of course what I found is that the longer I waited the lower the prices.

I have been looking at this home since the summer, but I still think it is overpriced by 60k at a minimum:

http://redfin.com/stingray/do/printable-listing?listing-id=1089234

[temeculaguy]

Offer them 250K and see what they do. I don’t care where anyone thinks the market is going, 250k for a newer 3 car garage is a screamin deal. That is a lot of grass to mow, enjoy yourself, it’s borderline riding mower territory.. There was one on sparks a few months ago for 330k, it was the low price leader on the three car garage monitor at the time, there might be a link and you can get the sales price. That place has potential but at 350k it is at it’s 04 price, not a fair price today and that tract has tons of repos in it on drennon and swoboda plus the rent is cheap for the area because I think those weren’t very upgraded, this one looks kinda basic. I think they have it priced on the higher side because it’s on a third of an acre and it’s a one story (both are rare and marketable), if that is what you want, you gotta pay for that no matter where the market goes, some people just like lots of land. Hell, offer them 300k with some incentives, it’s not like they are sifting through all the offers these days. You know as well as any of us locals that South Temecula is not going to see French Valley or Murrieta prices, it will always be 10-20% higher and it’s almost built out. If it wasn’t on the wrong side of the 79 for me and it didn’t have a football field to mow, I’d be tempted to fire a 250k or a 275k trial baloon at that place. A/C bill should be reasonable, one story and not a ridiculous amount of sq ft, taxes seem low to average at about 1.5, I think the hoa is non existent or cheap there, sorry can’t talk you out of it, I agree that it is 50-60k overpriced but at 250k to 300k it has a lot going for it.

[temeculaguy]

Offer them 250K and see what they do. I don’t care where anyone thinks the market is going, 250k for a newer 3 car garage is a screamin deal. That is a lot of grass to mow, enjoy yourself, it’s borderline riding mower territory.. There was one on sparks a few months ago for 330k, it was the low price leader on the three car garage monitor at the time, there might be a link and you can get the sales price. That place has potential but at 350k it is at it’s 04 price, not a fair price today and that tract has tons of repos in it on drennon and swoboda plus the rent is cheap for the area because I think those weren’t very upgraded, this one looks kinda basic. I think they have it priced on the higher side because it’s on a third of an acre and it’s a one story (both are rare and marketable), if that is what you want, you gotta pay for that no matter where the market goes, some people just like lots of land. Hell, offer them 300k with some incentives, it’s not like they are sifting through all the offers these days. You know as well as any of us locals that South Temecula is not going to see French Valley or Murrieta prices, it will always be 10-20% higher and it’s almost built out. If it wasn’t on the wrong side of the 79 for me and it didn’t have a football field to mow, I’d be tempted to fire a 250k or a 275k trial baloon at that place. A/C bill should be reasonable, one story and not a ridiculous amount of sq ft, taxes seem low to average at about 1.5, I think the hoa is non existent or cheap there, sorry can’t talk you out of it, I agree that it is 50-60k overpriced but at 250k to 300k it has a lot going for it.

[temeculaguy]

Offer them 250K and see what they do. I don’t care where anyone thinks the market is going, 250k for a newer 3 car garage is a screamin deal. That is a lot of grass to mow, enjoy yourself, it’s borderline riding mower territory.. There was one on sparks a few months ago for 330k, it was the low price leader on the three car garage monitor at the time, there might be a link and you can get the sales price. That place has potential but at 350k it is at it’s 04 price, not a fair price today and that tract has tons of repos in it on drennon and swoboda plus the rent is cheap for the area because I think those weren’t very upgraded, this one looks kinda basic. I think they have it priced on the higher side because it’s on a third of an acre and it’s a one story (both are rare and marketable), if that is what you want, you gotta pay for that no matter where the market goes, some people just like lots of land. Hell, offer them 300k with some incentives, it’s not like they are sifting through all the offers these days. You know as well as any of us locals that South Temecula is not going to see French Valley or Murrieta prices, it will always be 10-20% higher and it’s almost built out. If it wasn’t on the wrong side of the 79 for me and it didn’t have a football field to mow, I’d be tempted to fire a 250k or a 275k trial baloon at that place. A/C bill should be reasonable, one story and not a ridiculous amount of sq ft, taxes seem low to average at about 1.5, I think the hoa is non existent or cheap there, sorry can’t talk you out of it, I agree that it is 50-60k overpriced but at 250k to 300k it has a lot going for it.

[temeculaguy]

Offer them 250K and see what they do. I don’t care where anyone thinks the market is going, 250k for a newer 3 car garage is a screamin deal. That is a lot of grass to mow, enjoy yourself, it’s borderline riding mower territory.. There was one on sparks a few months ago for 330k, it was the low price leader on the three car garage monitor at the time, there might be a link and you can get the sales price. That place has potential but at 350k it is at it’s 04 price, not a fair price today and that tract has tons of repos in it on drennon and swoboda plus the rent is cheap for the area because I think those weren’t very upgraded, this one looks kinda basic. I think they have it priced on the higher side because it’s on a third of an acre and it’s a one story (both are rare and marketable), if that is what you want, you gotta pay for that no matter where the market goes, some people just like lots of land. Hell, offer them 300k with some incentives, it’s not like they are sifting through all the offers these days. You know as well as any of us locals that South Temecula is not going to see French Valley or Murrieta prices, it will always be 10-20% higher and it’s almost built out. If it wasn’t on the wrong side of the 79 for me and it didn’t have a football field to mow, I’d be tempted to fire a 250k or a 275k trial baloon at that place. A/C bill should be reasonable, one story and not a ridiculous amount of sq ft, taxes seem low to average at about 1.5, I think the hoa is non existent or cheap there, sorry can’t talk you out of it, I agree that it is 50-60k overpriced but at 250k to 300k it has a lot going for it.

[temeculaguy]

Offer them 250K and see what they do. I don’t care where anyone thinks the market is going, 250k for a newer 3 car garage is a screamin deal. That is a lot of grass to mow, enjoy yourself, it’s borderline riding mower territory.. There was one on sparks a few months ago for 330k, it was the low price leader on the three car garage monitor at the time, there might be a link and you can get the sales price. That place has potential but at 350k it is at it’s 04 price, not a fair price today and that tract has tons of repos in it on drennon and swoboda plus the rent is cheap for the area because I think those weren’t very upgraded, this one looks kinda basic. I think they have it priced on the higher side because it’s on a third of an acre and it’s a one story (both are rare and marketable), if that is what you want, you gotta pay for that no matter where the market goes, some people just like lots of land. Hell, offer them 300k with some incentives, it’s not like they are sifting through all the offers these days. You know as well as any of us locals that South Temecula is not going to see French Valley or Murrieta prices, it will always be 10-20% higher and it’s almost built out. If it wasn’t on the wrong side of the 79 for me and it didn’t have a football field to mow, I’d be tempted to fire a 250k or a 275k trial baloon at that place. A/C bill should be reasonable, one story and not a ridiculous amount of sq ft, taxes seem low to average at about 1.5, I think the hoa is non existent or cheap there, sorry can’t talk you out of it, I agree that it is 50-60k overpriced but at 250k to 300k it has a lot going for it.

[Anonymous]

Paramount, 1700 or so square feet wouldn’t be enough for me.

Anyway, what I’m trying to figure out from reading this board is what’s so good about Southern Temecula. I’ve never lived over in that part. I have driven over there and shopped in some stores over there. It does look nicer. Is it the schools? The people? Should I be considering that area when I buy?

TG, enlighten me.

[Anonymous]

Paramount, 1700 or so square feet wouldn’t be enough for me.

Anyway, what I’m trying to figure out from reading this board is what’s so good about Southern Temecula. I’ve never lived over in that part. I have driven over there and shopped in some stores over there. It does look nicer. Is it the schools? The people? Should I be considering that area when I buy?

TG, enlighten me.

[Anonymous]

Paramount, 1700 or so square feet wouldn’t be enough for me.

Anyway, what I’m trying to figure out from reading this board is what’s so good about Southern Temecula. I’ve never lived over in that part. I have driven over there and shopped in some stores over there. It does look nicer. Is it the schools? The people? Should I be considering that area when I buy?

TG, enlighten me.

[Anonymous]

Paramount, 1700 or so square feet wouldn’t be enough for me.

Anyway, what I’m trying to figure out from reading this board is what’s so good about Southern Temecula. I’ve never lived over in that part. I have driven over there and shopped in some stores over there. It does look nicer. Is it the schools? The people? Should I be considering that area when I buy?

TG, enlighten me.

[Anonymous]

Paramount, 1700 or so square feet wouldn’t be enough for me.

Anyway, what I’m trying to figure out from reading this board is what’s so good about Southern Temecula. I’ve never lived over in that part. I have driven over there and shopped in some stores over there. It does look nicer. Is it the schools? The people? Should I be considering that area when I buy?

TG, enlighten me.

[paramount]

It depends on what you like in terms of the city, weather, geography, etc…

I happen to like warm, dry weather and I think the Temecula Valley in general is an attractive area.

Schools: I’m not totally sure, my son goes to Catholic School – not b/c the schools in the area are bad, I think overall they are pretty good.

The People: As in most places, if you actually get to know your neighbors you’ll typically find they are nice. That being said, my section of the neighborhood (Paloma Del Sol) is so-so. The area around my street has become full of rentals – probably 50% or so, which in IMO has become a problem (some crime, dorm houses). A mixture of gray collar (myself included) and blue collar and sales types – this mixture largely the result of the housing bubble.

The commute (for most): After 5 years of commuting to RB it is getting better with the freeway improvements. But to be honest on the eve of my 40th the commute is getting old – even though it only takes about 40-45 minutes or so, it’s still 39 miles to my work (I do carpool, which gets old as well).

Overall: South Temecula is a pretty good place to live – the air is still clean, night sky still somewhat dark (backyard astronomy), crime although low is rising. It’s a mixture of locals and transplants. Local (good paying) jobs difficult to find, but it is possible to find one.

[paramount]

It depends on what you like in terms of the city, weather, geography, etc…

I happen to like warm, dry weather and I think the Temecula Valley in general is an attractive area.

Schools: I’m not totally sure, my son goes to Catholic School – not b/c the schools in the area are bad, I think overall they are pretty good.

The People: As in most places, if you actually get to know your neighbors you’ll typically find they are nice. That being said, my section of the neighborhood (Paloma Del Sol) is so-so. The area around my street has become full of rentals – probably 50% or so, which in IMO has become a problem (some crime, dorm houses). A mixture of gray collar (myself included) and blue collar and sales types – this mixture largely the result of the housing bubble.

The commute (for most): After 5 years of commuting to RB it is getting better with the freeway improvements. But to be honest on the eve of my 40th the commute is getting old – even though it only takes about 40-45 minutes or so, it’s still 39 miles to my work (I do carpool, which gets old as well).

Overall: South Temecula is a pretty good place to live – the air is still clean, night sky still somewhat dark (backyard astronomy), crime although low is rising. It’s a mixture of locals and transplants. Local (good paying) jobs difficult to find, but it is possible to find one.

[paramount]

It depends on what you like in terms of the city, weather, geography, etc…

I happen to like warm, dry weather and I think the Temecula Valley in general is an attractive area.

Schools: I’m not totally sure, my son goes to Catholic School – not b/c the schools in the area are bad, I think overall they are pretty good.

The People: As in most places, if you actually get to know your neighbors you’ll typically find they are nice. That being said, my section of the neighborhood (Paloma Del Sol) is so-so. The area around my street has become full of rentals – probably 50% or so, which in IMO has become a problem (some crime, dorm houses). A mixture of gray collar (myself included) and blue collar and sales types – this mixture largely the result of the housing bubble.

The commute (for most): After 5 years of commuting to RB it is getting better with the freeway improvements. But to be honest on the eve of my 40th the commute is getting old – even though it only takes about 40-45 minutes or so, it’s still 39 miles to my work (I do carpool, which gets old as well).

Overall: South Temecula is a pretty good place to live – the air is still clean, night sky still somewhat dark (backyard astronomy), crime although low is rising. It’s a mixture of locals and transplants. Local (good paying) jobs difficult to find, but it is possible to find one.

[paramount]

It depends on what you like in terms of the city, weather, geography, etc…

I happen to like warm, dry weather and I think the Temecula Valley in general is an attractive area.

Schools: I’m not totally sure, my son goes to Catholic School – not b/c the schools in the area are bad, I think overall they are pretty good.

The People: As in most places, if you actually get to know your neighbors you’ll typically find they are nice. That being said, my section of the neighborhood (Paloma Del Sol) is so-so. The area around my street has become full of rentals – probably 50% or so, which in IMO has become a problem (some crime, dorm houses). A mixture of gray collar (myself included) and blue collar and sales types – this mixture largely the result of the housing bubble.

The commute (for most): After 5 years of commuting to RB it is getting better with the freeway improvements. But to be honest on the eve of my 40th the commute is getting old – even though it only takes about 40-45 minutes or so, it’s still 39 miles to my work (I do carpool, which gets old as well).

Overall: South Temecula is a pretty good place to live – the air is still clean, night sky still somewhat dark (backyard astronomy), crime although low is rising. It’s a mixture of locals and transplants. Local (good paying) jobs difficult to find, but it is possible to find one.

[Author]

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