How is the market in Temecula/Murrieta?

[bearishgurl]

No offense to any Piggs here but I personally do not see a “renaissance” in Temecula or Murrieta in the near future. There may be a temporary shortage of inventory at this moment because the “pipeline” inventory has not yet begun to trickle in.

Of course, I’m not versed on all the ins and outs of North County or Riverside County (RIV). The job centers however have traditionally been in San Diego, Orange and Los Angeles Counties. Southern RIV is simply a BEDROOM community to the job centers and, unless the homeowner in RIV has a decent job in RIV or is retired, he and/or she is going to commute most likely 60 or more miles one way to work. Typically these BEDROOM communities DO NOT hold their values in downturns and for that reason RE there is NOT a good long-term investment unless purchased at a rock-bottom price. Quality-of-life issues have to be enormous for the road warrior (worker-bee) commuter in RIV. In short, RIV loses the “location, location, location” contest.

Look what happened in 1994 to Victorville and Palmdale (as BEDROOMS of San Bernardino County). Beside newspapers blown into every chain-link fence, there was so much blood in the streets that fairly new construction (foreclosed) was being sold for $40K to $140K to get it off the books. At that time, two retired homeowners on my block bought rental SFRs up there for a song. One has now retired in his former rental.

[burghMan]

For a while I’ve wondered what would happen in TV because I also perceived it as mainly a bedroom community.

Temecula is definitely not a job center. But after living here for many years, I’m surprised how many people I’ve met that have good jobs and do not commute. I would have to say I know more non-commuters than commuters. One particular type of job that is common among Temecula residents is a sales position that covers a Southern CA territory. Temecula works well for this role because it is centrally located in SoCal, is affordable, and is a nice place to live.

Plus, for those that do commute, Rancho Bernardo and even Carlsbad is still less than an hour (about 40 miles, not 60). I would say homes in Temecula are easily less than half the price of comparable homes in the areas that do have jobs. For many, this price difference is compelling. If values in higher-priced areas hold up, I do not see why values would fall even more Temecula.

I don’t expect Temecula to grow much going forward(which is fine by me). However, I also don’t think comparisons to Victorville and Palmdale are accurate. These areas were even farther out from the job centers, and Temecula is a much nicer place.

[burghMan]

For a while I’ve wondered what would happen in TV because I also perceived it as mainly a bedroom community.

Temecula is definitely not a job center. But after living here for many years, I’m surprised how many people I’ve met that have good jobs and do not commute. I would have to say I know more non-commuters than commuters. One particular type of job that is common among Temecula residents is a sales position that covers a Southern CA territory. Temecula works well for this role because it is centrally located in SoCal, is affordable, and is a nice place to live.

Plus, for those that do commute, Rancho Bernardo and even Carlsbad is still less than an hour (about 40 miles, not 60). I would say homes in Temecula are easily less than half the price of comparable homes in the areas that do have jobs. For many, this price difference is compelling. If values in higher-priced areas hold up, I do not see why values would fall even more Temecula.

I don’t expect Temecula to grow much going forward(which is fine by me). However, I also don’t think comparisons to Victorville and Palmdale are accurate. These areas were even farther out from the job centers, and Temecula is a much nicer place.

[burghMan]

For a while I’ve wondered what would happen in TV because I also perceived it as mainly a bedroom community.

Temecula is definitely not a job center. But after living here for many years, I’m surprised how many people I’ve met that have good jobs and do not commute. I would have to say I know more non-commuters than commuters. One particular type of job that is common among Temecula residents is a sales position that covers a Southern CA territory. Temecula works well for this role because it is centrally located in SoCal, is affordable, and is a nice place to live.

Plus, for those that do commute, Rancho Bernardo and even Carlsbad is still less than an hour (about 40 miles, not 60). I would say homes in Temecula are easily less than half the price of comparable homes in the areas that do have jobs. For many, this price difference is compelling. If values in higher-priced areas hold up, I do not see why values would fall even more Temecula.

I don’t expect Temecula to grow much going forward(which is fine by me). However, I also don’t think comparisons to Victorville and Palmdale are accurate. These areas were even farther out from the job centers, and Temecula is a much nicer place.

[burghMan]

For a while I’ve wondered what would happen in TV because I also perceived it as mainly a bedroom community.

Temecula is definitely not a job center. But after living here for many years, I’m surprised how many people I’ve met that have good jobs and do not commute. I would have to say I know more non-commuters than commuters. One particular type of job that is common among Temecula residents is a sales position that covers a Southern CA territory. Temecula works well for this role because it is centrally located in SoCal, is affordable, and is a nice place to live.

Plus, for those that do commute, Rancho Bernardo and even Carlsbad is still less than an hour (about 40 miles, not 60). I would say homes in Temecula are easily less than half the price of comparable homes in the areas that do have jobs. For many, this price difference is compelling. If values in higher-priced areas hold up, I do not see why values would fall even more Temecula.

I don’t expect Temecula to grow much going forward(which is fine by me). However, I also don’t think comparisons to Victorville and Palmdale are accurate. These areas were even farther out from the job centers, and Temecula is a much nicer place.

[burghMan]

For a while I’ve wondered what would happen in TV because I also perceived it as mainly a bedroom community.

Temecula is definitely not a job center. But after living here for many years, I’m surprised how many people I’ve met that have good jobs and do not commute. I would have to say I know more non-commuters than commuters. One particular type of job that is common among Temecula residents is a sales position that covers a Southern CA territory. Temecula works well for this role because it is centrally located in SoCal, is affordable, and is a nice place to live.

Plus, for those that do commute, Rancho Bernardo and even Carlsbad is still less than an hour (about 40 miles, not 60). I would say homes in Temecula are easily less than half the price of comparable homes in the areas that do have jobs. For many, this price difference is compelling. If values in higher-priced areas hold up, I do not see why values would fall even more Temecula.

I don’t expect Temecula to grow much going forward(which is fine by me). However, I also don’t think comparisons to Victorville and Palmdale are accurate. These areas were even farther out from the job centers, and Temecula is a much nicer place.

[mydogsarelazy]

Hi Piggs,

Just thought I would chime in once more, having been called Pollyanna.

My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.

The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.

Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.

JS

[mydogsarelazy]

Hi Piggs,

Just thought I would chime in once more, having been called Pollyanna.

My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.

The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.

Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.

JS

[mydogsarelazy]

Hi Piggs,

Just thought I would chime in once more, having been called Pollyanna.

My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.

The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.

Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.

JS

[mydogsarelazy]

Hi Piggs,

Just thought I would chime in once more, having been called Pollyanna.

My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.

The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.

Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.

JS

[mydogsarelazy]

Hi Piggs,

Just thought I would chime in once more, having been called Pollyanna.

My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.

The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.

Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.

JS

[scaredyclassic]

ok, maybe. probably more likely than not. but it could still possibly be very bad….

[scaredyclassic]

ok, maybe. probably more likely than not. but it could still possibly be very bad….

[scaredyclassic]

ok, maybe. probably more likely than not. but it could still possibly be very bad….

[scaredyclassic]

ok, maybe. probably more likely than not. but it could still possibly be very bad….

[Author]

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