acreage in temecula? will prices drop?

[booter1]

Los Ranchitos still overpriced?

TG- always appreciate your insights about life as well as the Temecula area. Possibility of us moving back to Southern California (Wife-native) and considering Temecula area. Little too hot for me sometimes but my wife likes it so….her turn as she has “paid her dues” in the Midwest for many years.

Due to all the family visits we have taken over the years we are fairly familiar with the Temecula area and just rented a home in Los Ranchitos during our last visit.

When I was walking/driving around the Los Ranchitos/Santiago/Chapparal Estates are I saw a few signs but less than I had thought.

A few that I was able to check on-line still seem overpriced. Your thoughts?

Thanks!

[scaredyclassic]

I’m still looking, same kind of deal. Listings are pretty thin for houses. However, when you search just “land” on redfin in wine country zip codes, you’ll find a dramatic drop in list prices. The agents I talk to say they still expect them to sell for more than list price, but even with that, the sales prices are well under 50% of peak. Same in La Cresta. I’m not looking to buy raw land, but someone with cash can get what looks to be a reasonable deal.

[scaredyclassic]

I’m still looking, same kind of deal. Listings are pretty thin for houses. However, when you search just “land” on redfin in wine country zip codes, you’ll find a dramatic drop in list prices. The agents I talk to say they still expect them to sell for more than list price, but even with that, the sales prices are well under 50% of peak. Same in La Cresta. I’m not looking to buy raw land, but someone with cash can get what looks to be a reasonable deal.

[scaredyclassic]

I’m still looking, same kind of deal. Listings are pretty thin for houses. However, when you search just “land” on redfin in wine country zip codes, you’ll find a dramatic drop in list prices. The agents I talk to say they still expect them to sell for more than list price, but even with that, the sales prices are well under 50% of peak. Same in La Cresta. I’m not looking to buy raw land, but someone with cash can get what looks to be a reasonable deal.

[scaredyclassic]

I’m still looking, same kind of deal. Listings are pretty thin for houses. However, when you search just “land” on redfin in wine country zip codes, you’ll find a dramatic drop in list prices. The agents I talk to say they still expect them to sell for more than list price, but even with that, the sales prices are well under 50% of peak. Same in La Cresta. I’m not looking to buy raw land, but someone with cash can get what looks to be a reasonable deal.

[scaredyclassic]

I’m still looking, same kind of deal. Listings are pretty thin for houses. However, when you search just “land” on redfin in wine country zip codes, you’ll find a dramatic drop in list prices. The agents I talk to say they still expect them to sell for more than list price, but even with that, the sales prices are well under 50% of peak. Same in La Cresta. I’m not looking to buy raw land, but someone with cash can get what looks to be a reasonable deal.

[NotCranky]

A lot of the cheap looking pieces of land are messed up. They could have any number of problems that make it undesirable or too expensive to justify building compared to a little bit more expensive lot. These listings have been piling up at the bottom of pricing. This is how it happened in Jamul anyway.Good lots are down but not by a large amount…Not that anyone is buying land. Most land is held free and clear, or nearly so with some small owner carry note, and the sellers just won’t let it go at much less than recent highs.

Temeculaguy was right that the oddball existing houses and residential junkyards had to lower prices radically to sell. The transition often involves the property changing hands to the lender as the price dropped. The old owners just were not strong enough to handle the MEW. I think the people buying these are getting a better deal than if they bought raw land.They get mature trees, electricity, access, a well or meter, maybe a decent septic system or sewer connection for free.They also get a low tax base on the existing square footage of dwelling space if they rehab it. This is especially good for people who want the land for reasons other than having a McMansion on it. Even better if they can do the work themselves. Some of these properties exist in areas where much nicer homes are filling in the landscape.This makes for a perfect worst house/best neighborhood scenario that many people see an advantage in.

[NotCranky]

A lot of the cheap looking pieces of land are messed up. They could have any number of problems that make it undesirable or too expensive to justify building compared to a little bit more expensive lot. These listings have been piling up at the bottom of pricing. This is how it happened in Jamul anyway.Good lots are down but not by a large amount…Not that anyone is buying land. Most land is held free and clear, or nearly so with some small owner carry note, and the sellers just won’t let it go at much less than recent highs.

Temeculaguy was right that the oddball existing houses and residential junkyards had to lower prices radically to sell. The transition often involves the property changing hands to the lender as the price dropped. The old owners just were not strong enough to handle the MEW. I think the people buying these are getting a better deal than if they bought raw land.They get mature trees, electricity, access, a well or meter, maybe a decent septic system or sewer connection for free.They also get a low tax base on the existing square footage of dwelling space if they rehab it. This is especially good for people who want the land for reasons other than having a McMansion on it. Even better if they can do the work themselves. Some of these properties exist in areas where much nicer homes are filling in the landscape.This makes for a perfect worst house/best neighborhood scenario that many people see an advantage in.

[NotCranky]

A lot of the cheap looking pieces of land are messed up. They could have any number of problems that make it undesirable or too expensive to justify building compared to a little bit more expensive lot. These listings have been piling up at the bottom of pricing. This is how it happened in Jamul anyway.Good lots are down but not by a large amount…Not that anyone is buying land. Most land is held free and clear, or nearly so with some small owner carry note, and the sellers just won’t let it go at much less than recent highs.

Temeculaguy was right that the oddball existing houses and residential junkyards had to lower prices radically to sell. The transition often involves the property changing hands to the lender as the price dropped. The old owners just were not strong enough to handle the MEW. I think the people buying these are getting a better deal than if they bought raw land.They get mature trees, electricity, access, a well or meter, maybe a decent septic system or sewer connection for free.They also get a low tax base on the existing square footage of dwelling space if they rehab it. This is especially good for people who want the land for reasons other than having a McMansion on it. Even better if they can do the work themselves. Some of these properties exist in areas where much nicer homes are filling in the landscape.This makes for a perfect worst house/best neighborhood scenario that many people see an advantage in.

[NotCranky]

A lot of the cheap looking pieces of land are messed up. They could have any number of problems that make it undesirable or too expensive to justify building compared to a little bit more expensive lot. These listings have been piling up at the bottom of pricing. This is how it happened in Jamul anyway.Good lots are down but not by a large amount…Not that anyone is buying land. Most land is held free and clear, or nearly so with some small owner carry note, and the sellers just won’t let it go at much less than recent highs.

Temeculaguy was right that the oddball existing houses and residential junkyards had to lower prices radically to sell. The transition often involves the property changing hands to the lender as the price dropped. The old owners just were not strong enough to handle the MEW. I think the people buying these are getting a better deal than if they bought raw land.They get mature trees, electricity, access, a well or meter, maybe a decent septic system or sewer connection for free.They also get a low tax base on the existing square footage of dwelling space if they rehab it. This is especially good for people who want the land for reasons other than having a McMansion on it. Even better if they can do the work themselves. Some of these properties exist in areas where much nicer homes are filling in the landscape.This makes for a perfect worst house/best neighborhood scenario that many people see an advantage in.

[NotCranky]

A lot of the cheap looking pieces of land are messed up. They could have any number of problems that make it undesirable or too expensive to justify building compared to a little bit more expensive lot. These listings have been piling up at the bottom of pricing. This is how it happened in Jamul anyway.Good lots are down but not by a large amount…Not that anyone is buying land. Most land is held free and clear, or nearly so with some small owner carry note, and the sellers just won’t let it go at much less than recent highs.

Temeculaguy was right that the oddball existing houses and residential junkyards had to lower prices radically to sell. The transition often involves the property changing hands to the lender as the price dropped. The old owners just were not strong enough to handle the MEW. I think the people buying these are getting a better deal than if they bought raw land.They get mature trees, electricity, access, a well or meter, maybe a decent septic system or sewer connection for free.They also get a low tax base on the existing square footage of dwelling space if they rehab it. This is especially good for people who want the land for reasons other than having a McMansion on it. Even better if they can do the work themselves. Some of these properties exist in areas where much nicer homes are filling in the landscape.This makes for a perfect worst house/best neighborhood scenario that many people see an advantage in.

[briansd1]

scaredycat, I did realize that you live in Temecula. You’re pretty smart for a Temecula resident.

Just joking. 😉

[briansd1]

scaredycat, I did realize that you live in Temecula. You’re pretty smart for a Temecula resident.

Just joking. 😉

[briansd1]

scaredycat, I did realize that you live in Temecula. You’re pretty smart for a Temecula resident.

Just joking. 😉

[briansd1]

scaredycat, I did realize that you live in Temecula. You’re pretty smart for a Temecula resident.

Just joking. 😉

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