Chasing The market Down In Vintage Reserve Murrieta

[mgubnyc1]

Seems to me the first quarter of 08 is going to get nasty, in the past 2 months prices have dropped 10% and there still over priced, imo, another 20% drop in the next couple of months is going to happen, which would bring the are down to 2001 prices.

Am I right?

http://www.redfin.com/stingray/do/printable-listing?listing-id=1279403

http://www.redfin.com/stingray/do/printable-listing?listing-id=1315992

http://www.redfin.com/stingray/do/printable-listing?listing-id=526352
http://www.redfin.com/stingray/do/printable-listing?listing-id=1283738

[Allan from Fallbrook]

All of your examples are either bank owned, or short sales. Considering that prices are now starting to flirt with $100/sf (one example shows $103/sf), and we are not seeing anywhere near the total inventory that the banks are carrying in Temecula and Murrieta, I agree that it is going to get much uglier.

I have heard anecdotally that only about 20 – 25% of the total REO inventory is on display in Temecula and Murrieta, due to bank fears that flooding the market will further depress prices.

Apropos of nothing: Those are some big-ass houses! When you look at the backyard versus the size of the house, they are really packed in there. Maybe I’m used to bigger lots, living here in Fallbrook, but jeez.

[Allan from Fallbrook]

All of your examples are either bank owned, or short sales. Considering that prices are now starting to flirt with $100/sf (one example shows $103/sf), and we are not seeing anywhere near the total inventory that the banks are carrying in Temecula and Murrieta, I agree that it is going to get much uglier.

I have heard anecdotally that only about 20 – 25% of the total REO inventory is on display in Temecula and Murrieta, due to bank fears that flooding the market will further depress prices.

Apropos of nothing: Those are some big-ass houses! When you look at the backyard versus the size of the house, they are really packed in there. Maybe I’m used to bigger lots, living here in Fallbrook, but jeez.

[Allan from Fallbrook]

All of your examples are either bank owned, or short sales. Considering that prices are now starting to flirt with $100/sf (one example shows $103/sf), and we are not seeing anywhere near the total inventory that the banks are carrying in Temecula and Murrieta, I agree that it is going to get much uglier.

I have heard anecdotally that only about 20 – 25% of the total REO inventory is on display in Temecula and Murrieta, due to bank fears that flooding the market will further depress prices.

Apropos of nothing: Those are some big-ass houses! When you look at the backyard versus the size of the house, they are really packed in there. Maybe I’m used to bigger lots, living here in Fallbrook, but jeez.

[Allan from Fallbrook]

All of your examples are either bank owned, or short sales. Considering that prices are now starting to flirt with $100/sf (one example shows $103/sf), and we are not seeing anywhere near the total inventory that the banks are carrying in Temecula and Murrieta, I agree that it is going to get much uglier.

I have heard anecdotally that only about 20 – 25% of the total REO inventory is on display in Temecula and Murrieta, due to bank fears that flooding the market will further depress prices.

Apropos of nothing: Those are some big-ass houses! When you look at the backyard versus the size of the house, they are really packed in there. Maybe I’m used to bigger lots, living here in Fallbrook, but jeez.

[Allan from Fallbrook]

All of your examples are either bank owned, or short sales. Considering that prices are now starting to flirt with $100/sf (one example shows $103/sf), and we are not seeing anywhere near the total inventory that the banks are carrying in Temecula and Murrieta, I agree that it is going to get much uglier.

I have heard anecdotally that only about 20 – 25% of the total REO inventory is on display in Temecula and Murrieta, due to bank fears that flooding the market will further depress prices.

Apropos of nothing: Those are some big-ass houses! When you look at the backyard versus the size of the house, they are really packed in there. Maybe I’m used to bigger lots, living here in Fallbrook, but jeez.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[Allan from Fallbrook]

TG: There are more and more of these popping up every day, as you said. I think the banks are trying to be careful, and parsing these out slowly so as not to flood the market, but at some point the floodgates are gonna burst.

BTW, my Raiders just tied your Chargers. Yeah, it probably won’t hold, but c’mon dude, let me have a little joy where I can find it.

[Allan from Fallbrook]

TG: There are more and more of these popping up every day, as you said. I think the banks are trying to be careful, and parsing these out slowly so as not to flood the market, but at some point the floodgates are gonna burst.

BTW, my Raiders just tied your Chargers. Yeah, it probably won’t hold, but c’mon dude, let me have a little joy where I can find it.

[Allan from Fallbrook]

TG: There are more and more of these popping up every day, as you said. I think the banks are trying to be careful, and parsing these out slowly so as not to flood the market, but at some point the floodgates are gonna burst.

BTW, my Raiders just tied your Chargers. Yeah, it probably won’t hold, but c’mon dude, let me have a little joy where I can find it.

[Allan from Fallbrook]

TG: There are more and more of these popping up every day, as you said. I think the banks are trying to be careful, and parsing these out slowly so as not to flood the market, but at some point the floodgates are gonna burst.

BTW, my Raiders just tied your Chargers. Yeah, it probably won’t hold, but c’mon dude, let me have a little joy where I can find it.

[Author]

Posts