America’s Post-Subprime Boomtowns

[temeculaguy]

Nor, I paid a little less than that but it’s ballpark, I’m not moving for at least a decade but you are more than welcome to move into the neighbors house on either side, I think the end is near for both. I need some cool, backyard happy hour type neighbors before summer.

Nostra, one demographic I haven’t seen or met is the get rich folks, the water cooler talk up here no longer contains the word “profit.” People are buying shelter not investments, the reality is they are setting themsleves up for a profit down the line but nobody realizes it. Most people and the media are two years behind reality, in 2006 they thought they’d make a killing and in 2009 they are certain they will lose money. I haven’t seen many investors at all, rarely does a place sell and then go up for rent, I think those folks were flushed out of the market and jumped in in 2007 for the most part. I’m going to wait 6 months to a year to see how my household economics shake out in the new pad and get all the projects done, then I’m going to start collecting rentals in the sub 100x rent multiplier range. It is neither a crap shoot or roulette, it’s card counting at this point, some study and planning and you can take a slight advantage.

[AK]

Maybe we can hire a bunch of house movers and export the surplus homes to China.

[AK]

Maybe we can hire a bunch of house movers and export the surplus homes to China.

[AK]

Maybe we can hire a bunch of house movers and export the surplus homes to China.

[AK]

Maybe we can hire a bunch of house movers and export the surplus homes to China.

[AK]

Maybe we can hire a bunch of house movers and export the surplus homes to China.

[carlsbadworker]

[quote=AK]Maybe we can hire a bunch of house movers and export the surplus homes to China.[/quote]

That’s not needed. They are coming here:
http://www.latimes.com/business/la-fi-chinahomes7-2008dec07,0,6321372.story

[carlsbadworker]

[quote=AK]Maybe we can hire a bunch of house movers and export the surplus homes to China.[/quote]

That’s not needed. They are coming here:
http://www.latimes.com/business/la-fi-chinahomes7-2008dec07,0,6321372.story

[carlsbadworker]

[quote=AK]Maybe we can hire a bunch of house movers and export the surplus homes to China.[/quote]

That’s not needed. They are coming here:
http://www.latimes.com/business/la-fi-chinahomes7-2008dec07,0,6321372.story

[carlsbadworker]

[quote=AK]Maybe we can hire a bunch of house movers and export the surplus homes to China.[/quote]

That’s not needed. They are coming here:
http://www.latimes.com/business/la-fi-chinahomes7-2008dec07,0,6321372.story

[carlsbadworker]

[quote=AK]Maybe we can hire a bunch of house movers and export the surplus homes to China.[/quote]

That’s not needed. They are coming here:
http://www.latimes.com/business/la-fi-chinahomes7-2008dec07,0,6321372.story

[eclipxe]

Just to echo what TG has said – I’ve been in the Temecula/Murrieta market for about 8 months now and I’m finally closing escrow next week. Based on all of the doom and gloom on the bubble blogs, I placed low ball offers on over 20 places in hopes of picking up a deal. Outbid. Every. Single. Time. I finally picked up a place I love, but had to get in an offer within an hour of it being listed, and offering 10k over list. I’m still coming in at only 2.8x income, so I’m not too concerned about having to bid up a bit. Like I’ve said in a few other threads, the brown lawns are gone and the people moving in now are folks that can actually afford their mortgages.

Now commercial RE is hurting a bunch out here, but Temecula is well positioned to create a lot of new jobs when the economy improves. I took a drive around the industrial parts of town today and am amazed at the amount of recent, high quality offices. The land is cheap, infrastructure is excellent, good schools, low crime and an educated workforce that can afford to buy in the area on a decent salary. Combine that with high quality office space and the area becomes a good candidate for a strong amount of job growth moving forward (5-10 yrs). City planners aren’t idiots and know the future of the area isn’t in more housing, it’s in jobs.

As far as housing, I’d be very worried if decent places weren’t being picked up quickly and if we had the whole section 8 trend going on out here, but we’ve thankfully avoided that.

[eclipxe]

Just to echo what TG has said – I’ve been in the Temecula/Murrieta market for about 8 months now and I’m finally closing escrow next week. Based on all of the doom and gloom on the bubble blogs, I placed low ball offers on over 20 places in hopes of picking up a deal. Outbid. Every. Single. Time. I finally picked up a place I love, but had to get in an offer within an hour of it being listed, and offering 10k over list. I’m still coming in at only 2.8x income, so I’m not too concerned about having to bid up a bit. Like I’ve said in a few other threads, the brown lawns are gone and the people moving in now are folks that can actually afford their mortgages.

Now commercial RE is hurting a bunch out here, but Temecula is well positioned to create a lot of new jobs when the economy improves. I took a drive around the industrial parts of town today and am amazed at the amount of recent, high quality offices. The land is cheap, infrastructure is excellent, good schools, low crime and an educated workforce that can afford to buy in the area on a decent salary. Combine that with high quality office space and the area becomes a good candidate for a strong amount of job growth moving forward (5-10 yrs). City planners aren’t idiots and know the future of the area isn’t in more housing, it’s in jobs.

As far as housing, I’d be very worried if decent places weren’t being picked up quickly and if we had the whole section 8 trend going on out here, but we’ve thankfully avoided that.

[eclipxe]

Just to echo what TG has said – I’ve been in the Temecula/Murrieta market for about 8 months now and I’m finally closing escrow next week. Based on all of the doom and gloom on the bubble blogs, I placed low ball offers on over 20 places in hopes of picking up a deal. Outbid. Every. Single. Time. I finally picked up a place I love, but had to get in an offer within an hour of it being listed, and offering 10k over list. I’m still coming in at only 2.8x income, so I’m not too concerned about having to bid up a bit. Like I’ve said in a few other threads, the brown lawns are gone and the people moving in now are folks that can actually afford their mortgages.

Now commercial RE is hurting a bunch out here, but Temecula is well positioned to create a lot of new jobs when the economy improves. I took a drive around the industrial parts of town today and am amazed at the amount of recent, high quality offices. The land is cheap, infrastructure is excellent, good schools, low crime and an educated workforce that can afford to buy in the area on a decent salary. Combine that with high quality office space and the area becomes a good candidate for a strong amount of job growth moving forward (5-10 yrs). City planners aren’t idiots and know the future of the area isn’t in more housing, it’s in jobs.

As far as housing, I’d be very worried if decent places weren’t being picked up quickly and if we had the whole section 8 trend going on out here, but we’ve thankfully avoided that.

[eclipxe]

Just to echo what TG has said – I’ve been in the Temecula/Murrieta market for about 8 months now and I’m finally closing escrow next week. Based on all of the doom and gloom on the bubble blogs, I placed low ball offers on over 20 places in hopes of picking up a deal. Outbid. Every. Single. Time. I finally picked up a place I love, but had to get in an offer within an hour of it being listed, and offering 10k over list. I’m still coming in at only 2.8x income, so I’m not too concerned about having to bid up a bit. Like I’ve said in a few other threads, the brown lawns are gone and the people moving in now are folks that can actually afford their mortgages.

Now commercial RE is hurting a bunch out here, but Temecula is well positioned to create a lot of new jobs when the economy improves. I took a drive around the industrial parts of town today and am amazed at the amount of recent, high quality offices. The land is cheap, infrastructure is excellent, good schools, low crime and an educated workforce that can afford to buy in the area on a decent salary. Combine that with high quality office space and the area becomes a good candidate for a strong amount of job growth moving forward (5-10 yrs). City planners aren’t idiots and know the future of the area isn’t in more housing, it’s in jobs.

As far as housing, I’d be very worried if decent places weren’t being picked up quickly and if we had the whole section 8 trend going on out here, but we’ve thankfully avoided that.

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