Murrieta questions

[Ren]

Good morning,

My apologies if this is the wrong forum. I was browsing homes for sale in Murrieta, and was pretty shocked at how low the prices are. I’m seeing newer (’05) 3/2 houses for $200-$230k, 4/3’s for $240-260k, and 5/3’s starting at $275k. These are typical prices, not exceptions.

According to wiki, Murrieta has (or recently had) the lowest crime rate of any city in Riverside.

My business is portable – I can open a warehouse pretty much anywhere. My wife telecommutes 3-4 days a week, works in UTC but is okay with looking for a new job. My questions are:

1. Would Murrieta be a good place to invest in rental property, or is the market saturated there? We can put 20-40% down. Would a condo or detached home be better for a rental there, and how many bedrooms? We would probably be there for 3-4 years, then buy in Carlsbad, renting out the Murrieta house.

2. What are the main reasons we would NOT want to live there? We don’t care about nightlife, and schools won’t matter for at least 5 years.

3. What newer developments would you recommend? We’re thinking 3 or 4 bedrooms, 1,800-2,500 sq ft.

4. Could this be close to the bottom for Murrieta?

Thanks in advance!

[Nor-LA-SD-guy]

Murrieta/Temecula

It’s really the same city to me, even French Valley, is a whole three miles from the Temecula mall (I Guess it would be a rather long walk for your kids).

Beware of these low prices; a lot of these are a bait and switch type of thing these days (personally I think we are within 10% of the bottom for this area, it’s really been wacked good).

I have lived in the TV for 5 years now, it’s a nice place to live, and there are good restaurants and shopping at the TV mall area.

The beach is about 40 minutes to an hour away on the weekends depending on where you want to go.

It gets hot in the summer (but that’s what god made air conditioning for and in these newer homes it will probably cost you a lot less than most think to keep cool), winter is nice but sometimes your more tropical plants may suffer when there is the occasional freeze .

[Nor-LA-SD-guy]

Murrieta/Temecula

It’s really the same city to me, even French Valley, is a whole three miles from the Temecula mall (I Guess it would be a rather long walk for your kids).

Beware of these low prices; a lot of these are a bait and switch type of thing these days (personally I think we are within 10% of the bottom for this area, it’s really been wacked good).

I have lived in the TV for 5 years now, it’s a nice place to live, and there are good restaurants and shopping at the TV mall area.

The beach is about 40 minutes to an hour away on the weekends depending on where you want to go.

It gets hot in the summer (but that’s what god made air conditioning for and in these newer homes it will probably cost you a lot less than most think to keep cool), winter is nice but sometimes your more tropical plants may suffer when there is the occasional freeze .

[Nor-LA-SD-guy]

Murrieta/Temecula

It’s really the same city to me, even French Valley, is a whole three miles from the Temecula mall (I Guess it would be a rather long walk for your kids).

Beware of these low prices; a lot of these are a bait and switch type of thing these days (personally I think we are within 10% of the bottom for this area, it’s really been wacked good).

I have lived in the TV for 5 years now, it’s a nice place to live, and there are good restaurants and shopping at the TV mall area.

The beach is about 40 minutes to an hour away on the weekends depending on where you want to go.

It gets hot in the summer (but that’s what god made air conditioning for and in these newer homes it will probably cost you a lot less than most think to keep cool), winter is nice but sometimes your more tropical plants may suffer when there is the occasional freeze .

[Nor-LA-SD-guy]

Murrieta/Temecula

It’s really the same city to me, even French Valley, is a whole three miles from the Temecula mall (I Guess it would be a rather long walk for your kids).

Beware of these low prices; a lot of these are a bait and switch type of thing these days (personally I think we are within 10% of the bottom for this area, it’s really been wacked good).

I have lived in the TV for 5 years now, it’s a nice place to live, and there are good restaurants and shopping at the TV mall area.

The beach is about 40 minutes to an hour away on the weekends depending on where you want to go.

It gets hot in the summer (but that’s what god made air conditioning for and in these newer homes it will probably cost you a lot less than most think to keep cool), winter is nice but sometimes your more tropical plants may suffer when there is the occasional freeze .

[Nor-LA-SD-guy]

Murrieta/Temecula

It’s really the same city to me, even French Valley, is a whole three miles from the Temecula mall (I Guess it would be a rather long walk for your kids).

Beware of these low prices; a lot of these are a bait and switch type of thing these days (personally I think we are within 10% of the bottom for this area, it’s really been wacked good).

I have lived in the TV for 5 years now, it’s a nice place to live, and there are good restaurants and shopping at the TV mall area.

The beach is about 40 minutes to an hour away on the weekends depending on where you want to go.

It gets hot in the summer (but that’s what god made air conditioning for and in these newer homes it will probably cost you a lot less than most think to keep cool), winter is nice but sometimes your more tropical plants may suffer when there is the occasional freeze .

[sc_alum]

I agree with Nor-LA-SD-guy to a large degree. We technically live in Murrieta, but about a block up from Harveston (which is Temecula), so we’ve always considered ourselves “Temecula”. I would say that the folks in French Valley are quite a hike from the central area of Temecula (Promenade/Mall/Restaurants), and along an unfriendly road (Winchester) if you’re looking to bike or walk. Our community is called Vintage Reserve, and I like that we can walk to the Harveston lake and parks, and can easily walk or ride bikes to the Promenade area. That and we are freeway-close, which if anybody tells you than an extra mile/or half-mile east doesn’t matter – they haven’t tried to get in or out of the city during “rush hour”.

No clue if we’re close to the bottom – we bought at about 100$/sq foot in 2003, and are seeing most REO’s down at about that level or a hair lower.

I wouldn’t try to invest in a rental here right now, just because of the glut of housing available. I’m not an expert and don’t claim to be, but I can’t see that with this quantity of housing you’re going to get a great ROI with all the folks that will be trying the same thing (in our case, once SD comes down in the next 2-3 years, we’ll probably buy an additional house there and rent the one here for a few years… can’t imagine we’re the only ones with that plan).

[sc_alum]

I agree with Nor-LA-SD-guy to a large degree. We technically live in Murrieta, but about a block up from Harveston (which is Temecula), so we’ve always considered ourselves “Temecula”. I would say that the folks in French Valley are quite a hike from the central area of Temecula (Promenade/Mall/Restaurants), and along an unfriendly road (Winchester) if you’re looking to bike or walk. Our community is called Vintage Reserve, and I like that we can walk to the Harveston lake and parks, and can easily walk or ride bikes to the Promenade area. That and we are freeway-close, which if anybody tells you than an extra mile/or half-mile east doesn’t matter – they haven’t tried to get in or out of the city during “rush hour”.

No clue if we’re close to the bottom – we bought at about 100$/sq foot in 2003, and are seeing most REO’s down at about that level or a hair lower.

I wouldn’t try to invest in a rental here right now, just because of the glut of housing available. I’m not an expert and don’t claim to be, but I can’t see that with this quantity of housing you’re going to get a great ROI with all the folks that will be trying the same thing (in our case, once SD comes down in the next 2-3 years, we’ll probably buy an additional house there and rent the one here for a few years… can’t imagine we’re the only ones with that plan).

[sc_alum]

I agree with Nor-LA-SD-guy to a large degree. We technically live in Murrieta, but about a block up from Harveston (which is Temecula), so we’ve always considered ourselves “Temecula”. I would say that the folks in French Valley are quite a hike from the central area of Temecula (Promenade/Mall/Restaurants), and along an unfriendly road (Winchester) if you’re looking to bike or walk. Our community is called Vintage Reserve, and I like that we can walk to the Harveston lake and parks, and can easily walk or ride bikes to the Promenade area. That and we are freeway-close, which if anybody tells you than an extra mile/or half-mile east doesn’t matter – they haven’t tried to get in or out of the city during “rush hour”.

No clue if we’re close to the bottom – we bought at about 100$/sq foot in 2003, and are seeing most REO’s down at about that level or a hair lower.

I wouldn’t try to invest in a rental here right now, just because of the glut of housing available. I’m not an expert and don’t claim to be, but I can’t see that with this quantity of housing you’re going to get a great ROI with all the folks that will be trying the same thing (in our case, once SD comes down in the next 2-3 years, we’ll probably buy an additional house there and rent the one here for a few years… can’t imagine we’re the only ones with that plan).

[sc_alum]

I agree with Nor-LA-SD-guy to a large degree. We technically live in Murrieta, but about a block up from Harveston (which is Temecula), so we’ve always considered ourselves “Temecula”. I would say that the folks in French Valley are quite a hike from the central area of Temecula (Promenade/Mall/Restaurants), and along an unfriendly road (Winchester) if you’re looking to bike or walk. Our community is called Vintage Reserve, and I like that we can walk to the Harveston lake and parks, and can easily walk or ride bikes to the Promenade area. That and we are freeway-close, which if anybody tells you than an extra mile/or half-mile east doesn’t matter – they haven’t tried to get in or out of the city during “rush hour”.

No clue if we’re close to the bottom – we bought at about 100$/sq foot in 2003, and are seeing most REO’s down at about that level or a hair lower.

I wouldn’t try to invest in a rental here right now, just because of the glut of housing available. I’m not an expert and don’t claim to be, but I can’t see that with this quantity of housing you’re going to get a great ROI with all the folks that will be trying the same thing (in our case, once SD comes down in the next 2-3 years, we’ll probably buy an additional house there and rent the one here for a few years… can’t imagine we’re the only ones with that plan).

[sc_alum]

I agree with Nor-LA-SD-guy to a large degree. We technically live in Murrieta, but about a block up from Harveston (which is Temecula), so we’ve always considered ourselves “Temecula”. I would say that the folks in French Valley are quite a hike from the central area of Temecula (Promenade/Mall/Restaurants), and along an unfriendly road (Winchester) if you’re looking to bike or walk. Our community is called Vintage Reserve, and I like that we can walk to the Harveston lake and parks, and can easily walk or ride bikes to the Promenade area. That and we are freeway-close, which if anybody tells you than an extra mile/or half-mile east doesn’t matter – they haven’t tried to get in or out of the city during “rush hour”.

No clue if we’re close to the bottom – we bought at about 100$/sq foot in 2003, and are seeing most REO’s down at about that level or a hair lower.

I wouldn’t try to invest in a rental here right now, just because of the glut of housing available. I’m not an expert and don’t claim to be, but I can’t see that with this quantity of housing you’re going to get a great ROI with all the folks that will be trying the same thing (in our case, once SD comes down in the next 2-3 years, we’ll probably buy an additional house there and rent the one here for a few years… can’t imagine we’re the only ones with that plan).

[kewp]

I think the keyword here is ‘glut’. There may very well be more housing than there are jobs to put people in them, as owners or renters. Especially once the recession is in full swing.

I’ve suggested before that some of the worst areas (condo conversions and the IE) may end up having properties demolished or purchased by HUD.

I would personally stay out of RE as an investment vehicle until it is *clear* we’ve hit the bottom. Pick a zip code and make it a habit to check it once a month or so. When there the number of foreclosed properties goes down for at least a few months strait, then we’ve hit bottom.

[sc_alum]

@kewp:

Agreed that the city planners and the developers took a little happy pill at some point and drastically overbuilt. However, (from what I’ve seen) there are a lot of Telecommuters, Sales Reps, etc in the combined cities. i.e. folks who can work pretty much anywhere within reason, who moved to the area to be able to get a lot of house for the money. Granted there is not a lot of direct employment in the area, but I don’t think it’s as traditionally tied anymore as it once was.

[Bugs]

It may not be as traditionally tied to employment as before, but the distance to employment is still definitely a factor. The relative lack of meaningful local employment is the primary reason the TV area is being hit harder than SD, OC and LA.

With that said, I kinda like the TV/Murietta area. I’d much rather live there than in the San Fernando Valley or Palmdale or Victorville or San Bernardino or the Coachella Valley. Different strokes.

[kewp]

I like the area too! Was just up there for a wedding and it definitely has a very lush, organic feel to it that reminds me of the more pastoral areas of the east coast, where I’m from. Its also way less seedy than the city.

If I could convince my employer to let me telecommute 3 days a week I would definitely consider settling down there. But no way am I commuting to the coast every day.

When I used to visit there regularly during the early stages of the housing boom (2000-2001), even then it struck me that everyone I met seemed to be involved in construction in one way or the other. Or worked retail. So I wonder what is going to happen to local economy when all the new construction and remodeling stops.

I do see it as an attractive destination for companies looking to open a new location, especially ones based out of pricey metro areas. I bet lots of folks would relocate there if offered a free house!

[kewp]

I like the area too! Was just up there for a wedding and it definitely has a very lush, organic feel to it that reminds me of the more pastoral areas of the east coast, where I’m from. Its also way less seedy than the city.

If I could convince my employer to let me telecommute 3 days a week I would definitely consider settling down there. But no way am I commuting to the coast every day.

When I used to visit there regularly during the early stages of the housing boom (2000-2001), even then it struck me that everyone I met seemed to be involved in construction in one way or the other. Or worked retail. So I wonder what is going to happen to local economy when all the new construction and remodeling stops.

I do see it as an attractive destination for companies looking to open a new location, especially ones based out of pricey metro areas. I bet lots of folks would relocate there if offered a free house!

[kewp]

I like the area too! Was just up there for a wedding and it definitely has a very lush, organic feel to it that reminds me of the more pastoral areas of the east coast, where I’m from. Its also way less seedy than the city.

If I could convince my employer to let me telecommute 3 days a week I would definitely consider settling down there. But no way am I commuting to the coast every day.

When I used to visit there regularly during the early stages of the housing boom (2000-2001), even then it struck me that everyone I met seemed to be involved in construction in one way or the other. Or worked retail. So I wonder what is going to happen to local economy when all the new construction and remodeling stops.

I do see it as an attractive destination for companies looking to open a new location, especially ones based out of pricey metro areas. I bet lots of folks would relocate there if offered a free house!

[kewp]

I like the area too! Was just up there for a wedding and it definitely has a very lush, organic feel to it that reminds me of the more pastoral areas of the east coast, where I’m from. Its also way less seedy than the city.

If I could convince my employer to let me telecommute 3 days a week I would definitely consider settling down there. But no way am I commuting to the coast every day.

When I used to visit there regularly during the early stages of the housing boom (2000-2001), even then it struck me that everyone I met seemed to be involved in construction in one way or the other. Or worked retail. So I wonder what is going to happen to local economy when all the new construction and remodeling stops.

I do see it as an attractive destination for companies looking to open a new location, especially ones based out of pricey metro areas. I bet lots of folks would relocate there if offered a free house!

[kewp]

I like the area too! Was just up there for a wedding and it definitely has a very lush, organic feel to it that reminds me of the more pastoral areas of the east coast, where I’m from. Its also way less seedy than the city.

If I could convince my employer to let me telecommute 3 days a week I would definitely consider settling down there. But no way am I commuting to the coast every day.

When I used to visit there regularly during the early stages of the housing boom (2000-2001), even then it struck me that everyone I met seemed to be involved in construction in one way or the other. Or worked retail. So I wonder what is going to happen to local economy when all the new construction and remodeling stops.

I do see it as an attractive destination for companies looking to open a new location, especially ones based out of pricey metro areas. I bet lots of folks would relocate there if offered a free house!

[hipmatt]

Temecula/Murrieta isn’t close to bottoming, there are tons of homes in the foreclosure process, many loans still to reset higher, and the job losses have just started.

You aren’t gonna get a 2 year correction to the largest and longest RE bubble in history. This place is ground zero for irresponsible lending. Go ahead and buy, but prepare for larger losses ahead. Kewp is right. If you want to invest, then wait until there is a CLEAR bottom. If you want to live then come on over and buy.
BTW both sellers and landlords have a lot of competition up here. There are plenty of vacant rentals, so don’t expect top dollar for your income.

[hipmatt]

Temecula/Murrieta isn’t close to bottoming, there are tons of homes in the foreclosure process, many loans still to reset higher, and the job losses have just started.

You aren’t gonna get a 2 year correction to the largest and longest RE bubble in history. This place is ground zero for irresponsible lending. Go ahead and buy, but prepare for larger losses ahead. Kewp is right. If you want to invest, then wait until there is a CLEAR bottom. If you want to live then come on over and buy.
BTW both sellers and landlords have a lot of competition up here. There are plenty of vacant rentals, so don’t expect top dollar for your income.

[hipmatt]

Temecula/Murrieta isn’t close to bottoming, there are tons of homes in the foreclosure process, many loans still to reset higher, and the job losses have just started.

You aren’t gonna get a 2 year correction to the largest and longest RE bubble in history. This place is ground zero for irresponsible lending. Go ahead and buy, but prepare for larger losses ahead. Kewp is right. If you want to invest, then wait until there is a CLEAR bottom. If you want to live then come on over and buy.
BTW both sellers and landlords have a lot of competition up here. There are plenty of vacant rentals, so don’t expect top dollar for your income.

[hipmatt]

Temecula/Murrieta isn’t close to bottoming, there are tons of homes in the foreclosure process, many loans still to reset higher, and the job losses have just started.

You aren’t gonna get a 2 year correction to the largest and longest RE bubble in history. This place is ground zero for irresponsible lending. Go ahead and buy, but prepare for larger losses ahead. Kewp is right. If you want to invest, then wait until there is a CLEAR bottom. If you want to live then come on over and buy.
BTW both sellers and landlords have a lot of competition up here. There are plenty of vacant rentals, so don’t expect top dollar for your income.

[hipmatt]

Temecula/Murrieta isn’t close to bottoming, there are tons of homes in the foreclosure process, many loans still to reset higher, and the job losses have just started.

You aren’t gonna get a 2 year correction to the largest and longest RE bubble in history. This place is ground zero for irresponsible lending. Go ahead and buy, but prepare for larger losses ahead. Kewp is right. If you want to invest, then wait until there is a CLEAR bottom. If you want to live then come on over and buy.
BTW both sellers and landlords have a lot of competition up here. There are plenty of vacant rentals, so don’t expect top dollar for your income.

[sc_alum]

@Bugs

Hahaha – it’s everybody’s own perspective, but that was like a small stake through the heart to be compared to Victorville/Palmdale 🙂

[Anonymous]

I like Temecula Valley better than any area I’ve lived in thus far.

[temeculaguy]

Marion, it might be better for those of us shopping the market to tell everyone that we hate it here. Ren, if you don’t have to commute, it’s a cool place to live. A lot of people moved here for the reasons you stated, it does have relatively low crime, good schools and decent prices for housing. But I’ve never met anyone commuting more than an hour each way in their own car that is happy, and they chose that lifestyle when gas was $2 a gallon, soon we will never see gas under $4, and cheaper housing closer to their work, so they will be leaving soon. I bought one tank of gas in the last 60 days so I could care less, but to people filling up every two days, as they say at the amusement park “yor ride is slowly coming to a stop.” Don’t buy a rental out here, the population will probably decrease over the next few years and there are already plenty of empty houses in the pipeline. Jobwise, for your wife, if she doesn’t have an easily employable skill, well paying jobs in this valley are becoming more scarce with the thousands of starving R/E related people looking for work. Now if none of that matters because of whatever you do for work, it’s a nice place with some nice prices, but six months from now they will be even nicer, so wait a while or at least until I buy my place, I’ve got dibbs anyway.

[temeculaguy]

Marion, it might be better for those of us shopping the market to tell everyone that we hate it here. Ren, if you don’t have to commute, it’s a cool place to live. A lot of people moved here for the reasons you stated, it does have relatively low crime, good schools and decent prices for housing. But I’ve never met anyone commuting more than an hour each way in their own car that is happy, and they chose that lifestyle when gas was $2 a gallon, soon we will never see gas under $4, and cheaper housing closer to their work, so they will be leaving soon. I bought one tank of gas in the last 60 days so I could care less, but to people filling up every two days, as they say at the amusement park “yor ride is slowly coming to a stop.” Don’t buy a rental out here, the population will probably decrease over the next few years and there are already plenty of empty houses in the pipeline. Jobwise, for your wife, if she doesn’t have an easily employable skill, well paying jobs in this valley are becoming more scarce with the thousands of starving R/E related people looking for work. Now if none of that matters because of whatever you do for work, it’s a nice place with some nice prices, but six months from now they will be even nicer, so wait a while or at least until I buy my place, I’ve got dibbs anyway.

[temeculaguy]

Marion, it might be better for those of us shopping the market to tell everyone that we hate it here. Ren, if you don’t have to commute, it’s a cool place to live. A lot of people moved here for the reasons you stated, it does have relatively low crime, good schools and decent prices for housing. But I’ve never met anyone commuting more than an hour each way in their own car that is happy, and they chose that lifestyle when gas was $2 a gallon, soon we will never see gas under $4, and cheaper housing closer to their work, so they will be leaving soon. I bought one tank of gas in the last 60 days so I could care less, but to people filling up every two days, as they say at the amusement park “yor ride is slowly coming to a stop.” Don’t buy a rental out here, the population will probably decrease over the next few years and there are already plenty of empty houses in the pipeline. Jobwise, for your wife, if she doesn’t have an easily employable skill, well paying jobs in this valley are becoming more scarce with the thousands of starving R/E related people looking for work. Now if none of that matters because of whatever you do for work, it’s a nice place with some nice prices, but six months from now they will be even nicer, so wait a while or at least until I buy my place, I’ve got dibbs anyway.

[temeculaguy]

Marion, it might be better for those of us shopping the market to tell everyone that we hate it here. Ren, if you don’t have to commute, it’s a cool place to live. A lot of people moved here for the reasons you stated, it does have relatively low crime, good schools and decent prices for housing. But I’ve never met anyone commuting more than an hour each way in their own car that is happy, and they chose that lifestyle when gas was $2 a gallon, soon we will never see gas under $4, and cheaper housing closer to their work, so they will be leaving soon. I bought one tank of gas in the last 60 days so I could care less, but to people filling up every two days, as they say at the amusement park “yor ride is slowly coming to a stop.” Don’t buy a rental out here, the population will probably decrease over the next few years and there are already plenty of empty houses in the pipeline. Jobwise, for your wife, if she doesn’t have an easily employable skill, well paying jobs in this valley are becoming more scarce with the thousands of starving R/E related people looking for work. Now if none of that matters because of whatever you do for work, it’s a nice place with some nice prices, but six months from now they will be even nicer, so wait a while or at least until I buy my place, I’ve got dibbs anyway.

[temeculaguy]

Marion, it might be better for those of us shopping the market to tell everyone that we hate it here. Ren, if you don’t have to commute, it’s a cool place to live. A lot of people moved here for the reasons you stated, it does have relatively low crime, good schools and decent prices for housing. But I’ve never met anyone commuting more than an hour each way in their own car that is happy, and they chose that lifestyle when gas was $2 a gallon, soon we will never see gas under $4, and cheaper housing closer to their work, so they will be leaving soon. I bought one tank of gas in the last 60 days so I could care less, but to people filling up every two days, as they say at the amusement park “yor ride is slowly coming to a stop.” Don’t buy a rental out here, the population will probably decrease over the next few years and there are already plenty of empty houses in the pipeline. Jobwise, for your wife, if she doesn’t have an easily employable skill, well paying jobs in this valley are becoming more scarce with the thousands of starving R/E related people looking for work. Now if none of that matters because of whatever you do for work, it’s a nice place with some nice prices, but six months from now they will be even nicer, so wait a while or at least until I buy my place, I’ve got dibbs anyway.

[Anonymous]

I like Temecula Valley better than any area I’ve lived in thus far.

[Anonymous]

I like Temecula Valley better than any area I’ve lived in thus far.

[Anonymous]

I like Temecula Valley better than any area I’ve lived in thus far.

[Anonymous]

I like Temecula Valley better than any area I’ve lived in thus far.

[sc_alum]

@Bugs

Hahaha – it’s everybody’s own perspective, but that was like a small stake through the heart to be compared to Victorville/Palmdale 🙂

[sc_alum]

@Bugs

Hahaha – it’s everybody’s own perspective, but that was like a small stake through the heart to be compared to Victorville/Palmdale 🙂

[sc_alum]

@Bugs

Hahaha – it’s everybody’s own perspective, but that was like a small stake through the heart to be compared to Victorville/Palmdale 🙂

[sc_alum]

@Bugs

Hahaha – it’s everybody’s own perspective, but that was like a small stake through the heart to be compared to Victorville/Palmdale 🙂

[Bugs]

It may not be as traditionally tied to employment as before, but the distance to employment is still definitely a factor. The relative lack of meaningful local employment is the primary reason the TV area is being hit harder than SD, OC and LA.

With that said, I kinda like the TV/Murietta area. I’d much rather live there than in the San Fernando Valley or Palmdale or Victorville or San Bernardino or the Coachella Valley. Different strokes.

[Bugs]

It may not be as traditionally tied to employment as before, but the distance to employment is still definitely a factor. The relative lack of meaningful local employment is the primary reason the TV area is being hit harder than SD, OC and LA.

With that said, I kinda like the TV/Murietta area. I’d much rather live there than in the San Fernando Valley or Palmdale or Victorville or San Bernardino or the Coachella Valley. Different strokes.

[Bugs]

It may not be as traditionally tied to employment as before, but the distance to employment is still definitely a factor. The relative lack of meaningful local employment is the primary reason the TV area is being hit harder than SD, OC and LA.

With that said, I kinda like the TV/Murietta area. I’d much rather live there than in the San Fernando Valley or Palmdale or Victorville or San Bernardino or the Coachella Valley. Different strokes.

[Bugs]

It may not be as traditionally tied to employment as before, but the distance to employment is still definitely a factor. The relative lack of meaningful local employment is the primary reason the TV area is being hit harder than SD, OC and LA.

With that said, I kinda like the TV/Murietta area. I’d much rather live there than in the San Fernando Valley or Palmdale or Victorville or San Bernardino or the Coachella Valley. Different strokes.

[sc_alum]

@kewp:

Agreed that the city planners and the developers took a little happy pill at some point and drastically overbuilt. However, (from what I’ve seen) there are a lot of Telecommuters, Sales Reps, etc in the combined cities. i.e. folks who can work pretty much anywhere within reason, who moved to the area to be able to get a lot of house for the money. Granted there is not a lot of direct employment in the area, but I don’t think it’s as traditionally tied anymore as it once was.

[sc_alum]

@kewp:

Agreed that the city planners and the developers took a little happy pill at some point and drastically overbuilt. However, (from what I’ve seen) there are a lot of Telecommuters, Sales Reps, etc in the combined cities. i.e. folks who can work pretty much anywhere within reason, who moved to the area to be able to get a lot of house for the money. Granted there is not a lot of direct employment in the area, but I don’t think it’s as traditionally tied anymore as it once was.

[sc_alum]

@kewp:

Agreed that the city planners and the developers took a little happy pill at some point and drastically overbuilt. However, (from what I’ve seen) there are a lot of Telecommuters, Sales Reps, etc in the combined cities. i.e. folks who can work pretty much anywhere within reason, who moved to the area to be able to get a lot of house for the money. Granted there is not a lot of direct employment in the area, but I don’t think it’s as traditionally tied anymore as it once was.

[sc_alum]

@kewp:

Agreed that the city planners and the developers took a little happy pill at some point and drastically overbuilt. However, (from what I’ve seen) there are a lot of Telecommuters, Sales Reps, etc in the combined cities. i.e. folks who can work pretty much anywhere within reason, who moved to the area to be able to get a lot of house for the money. Granted there is not a lot of direct employment in the area, but I don’t think it’s as traditionally tied anymore as it once was.

[kewp]

I think the keyword here is ‘glut’. There may very well be more housing than there are jobs to put people in them, as owners or renters. Especially once the recession is in full swing.

I’ve suggested before that some of the worst areas (condo conversions and the IE) may end up having properties demolished or purchased by HUD.

I would personally stay out of RE as an investment vehicle until it is *clear* we’ve hit the bottom. Pick a zip code and make it a habit to check it once a month or so. When there the number of foreclosed properties goes down for at least a few months strait, then we’ve hit bottom.

[kewp]

I think the keyword here is ‘glut’. There may very well be more housing than there are jobs to put people in them, as owners or renters. Especially once the recession is in full swing.

I’ve suggested before that some of the worst areas (condo conversions and the IE) may end up having properties demolished or purchased by HUD.

I would personally stay out of RE as an investment vehicle until it is *clear* we’ve hit the bottom. Pick a zip code and make it a habit to check it once a month or so. When there the number of foreclosed properties goes down for at least a few months strait, then we’ve hit bottom.

[kewp]

I think the keyword here is ‘glut’. There may very well be more housing than there are jobs to put people in them, as owners or renters. Especially once the recession is in full swing.

I’ve suggested before that some of the worst areas (condo conversions and the IE) may end up having properties demolished or purchased by HUD.

I would personally stay out of RE as an investment vehicle until it is *clear* we’ve hit the bottom. Pick a zip code and make it a habit to check it once a month or so. When there the number of foreclosed properties goes down for at least a few months strait, then we’ve hit bottom.

[kewp]

I think the keyword here is ‘glut’. There may very well be more housing than there are jobs to put people in them, as owners or renters. Especially once the recession is in full swing.

I’ve suggested before that some of the worst areas (condo conversions and the IE) may end up having properties demolished or purchased by HUD.

I would personally stay out of RE as an investment vehicle until it is *clear* we’ve hit the bottom. Pick a zip code and make it a habit to check it once a month or so. When there the number of foreclosed properties goes down for at least a few months strait, then we’ve hit bottom.

[capeman]

Whoa! You’re looking to buy in an area with 2-3 billion in fraudulently mortgaged homes looking to hit the lists in your neighboring town. My brother has lost >30% on his townhome in a DR Horton development in the 4 months he has been there and they still haven’t sold out.

Not that I know much about the crime/schools/living in Murrieta/TV but you can’t expect those standards to remain long when school budgets are being cut to hell and neighborhoods are becoming abandoned.

I told my brother to walk away from his deposit in Sept. and I would tell anyone else to stay away for quite a while.

Unfortunately for my brother I was right and to add acid to the wound he is likely losing his teaching job he moved up there for.

[mydogsarelazy]

We have lived in Murrieta for about three years in a development that went up between 2003 and 2004.

On our street — a cul de sac — there have been three repos, and two have them re-sold and are now occupied.

My only complaint is that I find Murrieta/Temecula a bit dull, but keep in mind I grew up on the west side of LA.

The schools are great, there are plenty of restaurants in nearby Temecula, and you can get a newer house with all the features you want for a great price right now.

JS

[Ren]

Thanks for all the replies. You all confirmed what I suspected, which is that it’s just too far away from employment centers. I was concerned that I was going to hear things like “every other house is a meth lab.”

You also convinced us to take a closer look at possibly settling down their for a few years. We don’t plan to buy now, but possibly in fall or winter this year.

[Ren]

Thanks for all the replies. You all confirmed what I suspected, which is that it’s just too far away from employment centers. I was concerned that I was going to hear things like “every other house is a meth lab.”

You also convinced us to take a closer look at possibly settling down their for a few years. We don’t plan to buy now, but possibly in fall or winter this year.

[Ren]

Thanks for all the replies. You all confirmed what I suspected, which is that it’s just too far away from employment centers. I was concerned that I was going to hear things like “every other house is a meth lab.”

You also convinced us to take a closer look at possibly settling down their for a few years. We don’t plan to buy now, but possibly in fall or winter this year.

[Ren]

Thanks for all the replies. You all confirmed what I suspected, which is that it’s just too far away from employment centers. I was concerned that I was going to hear things like “every other house is a meth lab.”

You also convinced us to take a closer look at possibly settling down their for a few years. We don’t plan to buy now, but possibly in fall or winter this year.

[Ren]

Thanks for all the replies. You all confirmed what I suspected, which is that it’s just too far away from employment centers. I was concerned that I was going to hear things like “every other house is a meth lab.”

You also convinced us to take a closer look at possibly settling down their for a few years. We don’t plan to buy now, but possibly in fall or winter this year.

[mydogsarelazy]

We have lived in Murrieta for about three years in a development that went up between 2003 and 2004.

On our street — a cul de sac — there have been three repos, and two have them re-sold and are now occupied.

My only complaint is that I find Murrieta/Temecula a bit dull, but keep in mind I grew up on the west side of LA.

The schools are great, there are plenty of restaurants in nearby Temecula, and you can get a newer house with all the features you want for a great price right now.

JS

[mydogsarelazy]

We have lived in Murrieta for about three years in a development that went up between 2003 and 2004.

On our street — a cul de sac — there have been three repos, and two have them re-sold and are now occupied.

My only complaint is that I find Murrieta/Temecula a bit dull, but keep in mind I grew up on the west side of LA.

The schools are great, there are plenty of restaurants in nearby Temecula, and you can get a newer house with all the features you want for a great price right now.

JS

[mydogsarelazy]

We have lived in Murrieta for about three years in a development that went up between 2003 and 2004.

On our street — a cul de sac — there have been three repos, and two have them re-sold and are now occupied.

My only complaint is that I find Murrieta/Temecula a bit dull, but keep in mind I grew up on the west side of LA.

The schools are great, there are plenty of restaurants in nearby Temecula, and you can get a newer house with all the features you want for a great price right now.

JS

[mydogsarelazy]

We have lived in Murrieta for about three years in a development that went up between 2003 and 2004.

On our street — a cul de sac — there have been three repos, and two have them re-sold and are now occupied.

My only complaint is that I find Murrieta/Temecula a bit dull, but keep in mind I grew up on the west side of LA.

The schools are great, there are plenty of restaurants in nearby Temecula, and you can get a newer house with all the features you want for a great price right now.

JS

[capeman]

Whoa! You’re looking to buy in an area with 2-3 billion in fraudulently mortgaged homes looking to hit the lists in your neighboring town. My brother has lost >30% on his townhome in a DR Horton development in the 4 months he has been there and they still haven’t sold out.

Not that I know much about the crime/schools/living in Murrieta/TV but you can’t expect those standards to remain long when school budgets are being cut to hell and neighborhoods are becoming abandoned.

I told my brother to walk away from his deposit in Sept. and I would tell anyone else to stay away for quite a while.

Unfortunately for my brother I was right and to add acid to the wound he is likely losing his teaching job he moved up there for.

[capeman]

Whoa! You’re looking to buy in an area with 2-3 billion in fraudulently mortgaged homes looking to hit the lists in your neighboring town. My brother has lost >30% on his townhome in a DR Horton development in the 4 months he has been there and they still haven’t sold out.

Not that I know much about the crime/schools/living in Murrieta/TV but you can’t expect those standards to remain long when school budgets are being cut to hell and neighborhoods are becoming abandoned.

I told my brother to walk away from his deposit in Sept. and I would tell anyone else to stay away for quite a while.

Unfortunately for my brother I was right and to add acid to the wound he is likely losing his teaching job he moved up there for.

[capeman]

Whoa! You’re looking to buy in an area with 2-3 billion in fraudulently mortgaged homes looking to hit the lists in your neighboring town. My brother has lost >30% on his townhome in a DR Horton development in the 4 months he has been there and they still haven’t sold out.

Not that I know much about the crime/schools/living in Murrieta/TV but you can’t expect those standards to remain long when school budgets are being cut to hell and neighborhoods are becoming abandoned.

I told my brother to walk away from his deposit in Sept. and I would tell anyone else to stay away for quite a while.

Unfortunately for my brother I was right and to add acid to the wound he is likely losing his teaching job he moved up there for.

[capeman]

Whoa! You’re looking to buy in an area with 2-3 billion in fraudulently mortgaged homes looking to hit the lists in your neighboring town. My brother has lost >30% on his townhome in a DR Horton development in the 4 months he has been there and they still haven’t sold out.

Not that I know much about the crime/schools/living in Murrieta/TV but you can’t expect those standards to remain long when school budgets are being cut to hell and neighborhoods are becoming abandoned.

I told my brother to walk away from his deposit in Sept. and I would tell anyone else to stay away for quite a while.

Unfortunately for my brother I was right and to add acid to the wound he is likely losing his teaching job he moved up there for.

[Author]

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