I can see the whites of their eyes

[peterb]

I can undserstand there are many personal reasons for buying at this time, but consider the direction things are headed.

Unemployment is a real estate killer! And it’s getting up a head of steam right now.
we’re headed into the worst season for home sales.
An absolute deluge of distressed properties are coming in the next 12 months.

The only caveat I can think of is that loans will probably be more difficult to get.

If you can wait 2 to 3 months, there’s a good chance you’ll get another 20% off. I could be wrong, but I doubt it. I cannot find one factor that is not highly negative for the real estate market in the next year.

But, if you buy right now, at least your were getting it lower than 2 years ago. And there’s nothing wrong with that.

[Ren]

Even if it goes down another 15-20% in the next year in Temecula (I’m counting on it), $100/sq is a good deal. If you’re making even halfway decent money, the difference between a $1,500 mortgage and a $1,300 mortgage is negligible. And it wouldn’t take much of a rise in interest rates to negate that difference anyway. If I worked in Temecula, I would probably be looking at the same property today.

[Ren]

Even if it goes down another 15-20% in the next year in Temecula (I’m counting on it), $100/sq is a good deal. If you’re making even halfway decent money, the difference between a $1,500 mortgage and a $1,300 mortgage is negligible. And it wouldn’t take much of a rise in interest rates to negate that difference anyway. If I worked in Temecula, I would probably be looking at the same property today.

[Ren]

Even if it goes down another 15-20% in the next year in Temecula (I’m counting on it), $100/sq is a good deal. If you’re making even halfway decent money, the difference between a $1,500 mortgage and a $1,300 mortgage is negligible. And it wouldn’t take much of a rise in interest rates to negate that difference anyway. If I worked in Temecula, I would probably be looking at the same property today.

[Ren]

Even if it goes down another 15-20% in the next year in Temecula (I’m counting on it), $100/sq is a good deal. If you’re making even halfway decent money, the difference between a $1,500 mortgage and a $1,300 mortgage is negligible. And it wouldn’t take much of a rise in interest rates to negate that difference anyway. If I worked in Temecula, I would probably be looking at the same property today.

[Ren]

Even if it goes down another 15-20% in the next year in Temecula (I’m counting on it), $100/sq is a good deal. If you’re making even halfway decent money, the difference between a $1,500 mortgage and a $1,300 mortgage is negligible. And it wouldn’t take much of a rise in interest rates to negate that difference anyway. If I worked in Temecula, I would probably be looking at the same property today.

[Ren]

[quote=carlsbadworker]TG, you do realize that Temecula 2001 median house price was 200-220k, 2002 price was 230-280k and 2003 price was 290-340k, right? DQNews still reports the current median house price at 325k. So I don’t see how you can get anywhere near 2001 price.
[/quote]
I see 2001 prices and $100/sq quite a bit in Temecula. They’ll be at 1999 prices by winter of 2009, in my opinion. Don’t look at the median, look at actual sales and current listings. It took me a few seconds to find these:

http://www.redfin.com/CA/Temecula/44528-Love-Ct-92592/home/12511955

http://www.redfin.com/CA/Temecula/43990-Cindy-Cir-92592/home/12506691

http://www.redfin.com/CA/Temecula/33913-Turtle-Creek-St-92592/home/12275285

There are also smaller ones (2k), newer construction, showing up at close to $100/sq.

[Ren]

[quote=carlsbadworker]TG, you do realize that Temecula 2001 median house price was 200-220k, 2002 price was 230-280k and 2003 price was 290-340k, right? DQNews still reports the current median house price at 325k. So I don’t see how you can get anywhere near 2001 price.
[/quote]
I see 2001 prices and $100/sq quite a bit in Temecula. They’ll be at 1999 prices by winter of 2009, in my opinion. Don’t look at the median, look at actual sales and current listings. It took me a few seconds to find these:

http://www.redfin.com/CA/Temecula/44528-Love-Ct-92592/home/12511955

http://www.redfin.com/CA/Temecula/43990-Cindy-Cir-92592/home/12506691

http://www.redfin.com/CA/Temecula/33913-Turtle-Creek-St-92592/home/12275285

There are also smaller ones (2k), newer construction, showing up at close to $100/sq.

[Ren]

[quote=carlsbadworker]TG, you do realize that Temecula 2001 median house price was 200-220k, 2002 price was 230-280k and 2003 price was 290-340k, right? DQNews still reports the current median house price at 325k. So I don’t see how you can get anywhere near 2001 price.
[/quote]
I see 2001 prices and $100/sq quite a bit in Temecula. They’ll be at 1999 prices by winter of 2009, in my opinion. Don’t look at the median, look at actual sales and current listings. It took me a few seconds to find these:

http://www.redfin.com/CA/Temecula/44528-Love-Ct-92592/home/12511955

http://www.redfin.com/CA/Temecula/43990-Cindy-Cir-92592/home/12506691

http://www.redfin.com/CA/Temecula/33913-Turtle-Creek-St-92592/home/12275285

There are also smaller ones (2k), newer construction, showing up at close to $100/sq.

[Ren]

[quote=carlsbadworker]TG, you do realize that Temecula 2001 median house price was 200-220k, 2002 price was 230-280k and 2003 price was 290-340k, right? DQNews still reports the current median house price at 325k. So I don’t see how you can get anywhere near 2001 price.
[/quote]
I see 2001 prices and $100/sq quite a bit in Temecula. They’ll be at 1999 prices by winter of 2009, in my opinion. Don’t look at the median, look at actual sales and current listings. It took me a few seconds to find these:

http://www.redfin.com/CA/Temecula/44528-Love-Ct-92592/home/12511955

http://www.redfin.com/CA/Temecula/43990-Cindy-Cir-92592/home/12506691

http://www.redfin.com/CA/Temecula/33913-Turtle-Creek-St-92592/home/12275285

There are also smaller ones (2k), newer construction, showing up at close to $100/sq.

[Ren]

[quote=carlsbadworker]TG, you do realize that Temecula 2001 median house price was 200-220k, 2002 price was 230-280k and 2003 price was 290-340k, right? DQNews still reports the current median house price at 325k. So I don’t see how you can get anywhere near 2001 price.
[/quote]
I see 2001 prices and $100/sq quite a bit in Temecula. They’ll be at 1999 prices by winter of 2009, in my opinion. Don’t look at the median, look at actual sales and current listings. It took me a few seconds to find these:

http://www.redfin.com/CA/Temecula/44528-Love-Ct-92592/home/12511955

http://www.redfin.com/CA/Temecula/43990-Cindy-Cir-92592/home/12506691

http://www.redfin.com/CA/Temecula/33913-Turtle-Creek-St-92592/home/12275285

There are also smaller ones (2k), newer construction, showing up at close to $100/sq.

[Aecetia]

Wishing you Christmas in your new home. Where are you going to buy rentals next- in hurricane alley?

[Aecetia]

Wishing you Christmas in your new home. Where are you going to buy rentals next- in hurricane alley?

[Aecetia]

Wishing you Christmas in your new home. Where are you going to buy rentals next- in hurricane alley?

[Aecetia]

Wishing you Christmas in your new home. Where are you going to buy rentals next- in hurricane alley?

[Author]

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