Are rents going up?

[23109VC]

i’m in temecula, renting a 2005 house…lots of upgrades, nice private backyard, nicely landscaped…super clean…it looks like it was bought new and put up for sale/rent..never lived in. lot is small…but for a rental house it’s great. 1900 sq ft.

$1400/month. 🙂

I’ve seen large “executive” homes in the Temecula/Murrieta area going for $2000-2400/month. these are super fixed up, 3000+ sq ft, all the bells whistles, probably a pool…etc… more space than the normal family reallyneeds.

you could almost move your inlaws in…and have them kick in for the rent given how big some of these houses are…which I kind of think is what is happening in some of these areas.. 4 car garages…”suites” upstairs and down..it’s like the builders KNOW that 2 familes are chipping in to make the payment…

anyway..rent up here in Temecula is great. you can get a lot for your money. i’m just watching the prices go down.
the hosue I amr enting was up for sale at $550k six monthsa go. the other day the owner offered to selli t to me for $440k.

100k price drop in 6 months.. talk about overpriced…

[mixxalot]

I live in the Point Loma/OB area and rents have either stabilized and remained the same or went down. I pay 1100/month which is what I have paid for last 1.5 years. For me to buy a 1-2 bedroom condo in OB/Point Loma would run me a purchase price between $250-500k which is way too expensive even though I enjoy the area and want to buy a place in either OB or Pacific Beach since I like the beach life and being close to work. Just have to wait couple more years for market to correct and save up bigger down payment.

[LookoutBelow]

my place is for sale (by the owner) for 1.4 million….my rent DECREASED this lease term from 2500 to 2200 per mo. He obviously doesnt want me to leave and was willing to put his money where is intentions were.

[PerryChase]

LookoutBelow, wow, you have a great deal.

Mixxalot, I too like Point Loma & OB. I’m looking for an old house in those environs to restore when the time is right.

[mixxalot]

I work in Kearny Mesa and so Point Loma/OB is close to the new job. Homes are way overpriced in Point Loma/OB and just waiting for the prices to go down. I just want a small 3 bedroom home with a nice small yard and garage. But these cost current 700-900k here! And thats still a mile from the beach. I also like Encinitas a lot but its kinda far from work and more expensive than even OB and Point Loma. Guess will take several years til prices drop. I like PB but its too hard to get into and out of in the mornings that and PB and La Jolla are wicked obscene expensive. Then again all San Diego real estate needs to drop another 200k for normal people to buy once again.

[blahblahblah]

Houses in OB were $300K back in 2000. Incomes have been basically flat since then, the legal population hasn’t really changed, OB is the same white trash tweaker heaven it was back then but now the houses are $700K? Take away the crazy loans and speculation and it’s going to fall HARD. My guess is 3-5% drops for the next 3 years and then 5-10% drops for several more years after that. Get a good rent house and settle in to watch the show…

[Anonymous]

I live in the Philadelphia market and the rents are somewhat stable presently. By the way, I can get investors in on 5% down investment (residential) properties, practically anywhere in the country. Contact me and I will explain. [email protected]

Mike
What’s Hot Today.com
http://www.whatshottoday.com

[mixxalot]

Well my friends rent in UTC went up recently from $1100 to $1300 a month. We were looking at places in UTC and amazed at the ridiculous rents for a 1 bedroom like between $1400 and $1600!!! Who can pay these rents and whats so great about UTC area besides being close to UCSD and the UTC mall???

As for me, I saw some places for rent in OB and Point Loma for around $875-$950 so will move next summer to save money.

[PerryChase]

One reason I can think of why UCSD is expensive it that students need to be close to campus.

My friend from Singapore came for a 6 month program. He had no car therefore he had no other choice but to rent near UCSD.

[admin]

Sorry, I deleted an obscene spam comment, and all replies to that comment were deleted. Didn’t know it worked that way. Apologies to anyone who replied with actual “content”…

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