- This topic has 65 replies, 10 voices, and was last updated 15 years ago by
Ren.
-
AuthorPosts
-
-
March 12, 2008 at 11:51 AM #12080
-
March 12, 2008 at 1:21 PM #168084
Nor-LA-SD-guy
ParticipantMurrieta/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 .
-
March 12, 2008 at 1:21 PM #168411
Nor-LA-SD-guy
ParticipantMurrieta/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 .
-
March 12, 2008 at 1:21 PM #168417
Nor-LA-SD-guy
ParticipantMurrieta/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 .
-
March 12, 2008 at 1:21 PM #168444
Nor-LA-SD-guy
ParticipantMurrieta/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 .
-
March 12, 2008 at 1:21 PM #168515
Nor-LA-SD-guy
ParticipantMurrieta/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 .
-
March 12, 2008 at 1:33 PM #168094
sc_alum
ParticipantI 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$/sq foot in 2003, and are seeing most REO’s down at about that level or a hair lower.
I wouldn’t try to invest in a rental here right now, just because of the glut of housing available. I’m not an expert and don’t claim to be, but I can’t see that with this quantity of housing you’re going to get a great ROI with all the folks that will be trying the same thing (in our case, once SD comes down in the next 2-3 years, we’ll probably buy an additional house there and rent the one here for a few years… can’t imagine we’re the only ones with that plan).
-
March 12, 2008 at 1:33 PM #168421
sc_alum
ParticipantI agree with Nor-LA-SD-guy to a large degree. We technically live in Murrieta, but about a block up from Harveston (which is Temecula), so we’ve always considered ourselves “Temecula”. I would say that the folks in French Valley are quite a hike from the central area of Temecula (Promenade/Mall/Restaurants), and along an unfriendly road (Winchester) if you’re looking to bike or walk. Our community is called Vintage Reserve, and I like that we can walk to the Harveston lake and parks, and can easily walk or ride bikes to the Promenade area. That and we are freeway-close, which if anybody tells you than an extra mile/or half-mile east doesn’t matter – they haven’t tried to get in or out of the city during “rush hour”.
No clue if we’re close to the bottom – we bought at about 100$/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).
-
March 12, 2008 at 1:33 PM #168427
sc_alum
ParticipantI 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$/sq foot in 2003, and are seeing most REO’s down at about that level or a hair lower.
I wouldn’t try to invest in a rental here right now, just because of the glut of housing available. I’m not an expert and don’t claim to be, but I can’t see that with this quantity of housing you’re going to get a great ROI with all the folks that will be trying the same thing (in our case, once SD comes down in the next 2-3 years, we’ll probably buy an additional house there and rent the one here for a few years… can’t imagine we’re the only ones with that plan).
-
March 12, 2008 at 1:33 PM #168454
sc_alum
ParticipantI agree with Nor-LA-SD-guy to a large degree. We technically live in Murrieta, but about a block up from Harveston (which is Temecula), so we’ve always considered ourselves “Temecula”. I would say that the folks in French Valley are quite a hike from the central area of Temecula (Promenade/Mall/Restaurants), and along an unfriendly road (Winchester) if you’re looking to bike or walk. Our community is called Vintage Reserve, and I like that we can walk to the Harveston lake and parks, and can easily walk or ride bikes to the Promenade area. That and we are freeway-close, which if anybody tells you than an extra mile/or half-mile east doesn’t matter – they haven’t tried to get in or out of the city during “rush hour”.
No clue if we’re close to the bottom – we bought at about 100$/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).
-
March 12, 2008 at 1:33 PM #168525
sc_alum
ParticipantI 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).
-
March 12, 2008 at 2:00 PM #168104
kewp
ParticipantI 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.
-
March 12, 2008 at 4:16 PM #168155
sc_alum
ParticipantAgreed 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.
-
March 12, 2008 at 5:24 PM #168180
Bugs
ParticipantIt 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.
-
March 12, 2008 at 7:11 PM #168211
kewp
ParticipantI 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!
-
March 12, 2008 at 7:11 PM #168537
kewp
ParticipantI 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!
-
March 12, 2008 at 7:11 PM #168541
kewp
ParticipantI 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!
-
March 12, 2008 at 7:11 PM #168569
kewp
ParticipantI 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!
-
March 12, 2008 at 7:11 PM #168643
kewp
ParticipantI 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!
-
March 12, 2008 at 7:11 PM #168215
hipmatt
ParticipantTemecula/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. -
March 12, 2008 at 7:11 PM #168542
hipmatt
ParticipantTemecula/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. -
March 12, 2008 at 7:11 PM #168546
hipmatt
ParticipantTemecula/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. -
March 12, 2008 at 7:11 PM #168574
hipmatt
ParticipantTemecula/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. -
March 12, 2008 at 7:11 PM #168648
hipmatt
ParticipantTemecula/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. -
March 12, 2008 at 7:47 PM #168240
-
March 12, 2008 at 8:24 PM #168260
Anonymous
GuestI like Temecula Valley better than any area I’ve lived in thus far.
-
March 12, 2008 at 10:35 PM #168320
temeculaguy
ParticipantMarion, 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.
-
March 12, 2008 at 10:35 PM #168646
temeculaguy
ParticipantMarion, 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.
-
March 12, 2008 at 10:35 PM #168650
temeculaguy
ParticipantMarion, 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.
-
March 12, 2008 at 10:35 PM #168679
temeculaguy
ParticipantMarion, 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.
-
March 12, 2008 at 10:35 PM #168750
temeculaguy
ParticipantMarion, 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.
-
March 12, 2008 at 8:24 PM #168588
Anonymous
GuestI like Temecula Valley better than any area I’ve lived in thus far.
-
March 12, 2008 at 8:24 PM #168591
Anonymous
GuestI like Temecula Valley better than any area I’ve lived in thus far.
-
March 12, 2008 at 8:24 PM #168619
Anonymous
GuestI like Temecula Valley better than any area I’ve lived in thus far.
-
March 12, 2008 at 8:24 PM #168693
Anonymous
GuestI like Temecula Valley better than any area I’ve lived in thus far.
-
March 12, 2008 at 7:47 PM #168568
-
March 12, 2008 at 7:47 PM #168571
-
March 12, 2008 at 7:47 PM #168599
-
March 12, 2008 at 7:47 PM #168670
-
March 12, 2008 at 5:24 PM #168506
Bugs
ParticipantIt 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.
-
March 12, 2008 at 5:24 PM #168512
Bugs
ParticipantIt 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.
-
March 12, 2008 at 5:24 PM #168539
Bugs
ParticipantIt 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.
-
March 12, 2008 at 5:24 PM #168613
Bugs
ParticipantIt 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.
-
-
March 12, 2008 at 4:16 PM #168481
sc_alum
ParticipantAgreed 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.
-
March 12, 2008 at 4:16 PM #168487
sc_alum
ParticipantAgreed 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.
-
March 12, 2008 at 4:16 PM #168514
sc_alum
ParticipantAgreed 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.
-
March 12, 2008 at 4:16 PM #168585
sc_alum
ParticipantAgreed 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.
-
-
March 12, 2008 at 2:00 PM #168431
kewp
ParticipantI 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.
-
March 12, 2008 at 2:00 PM #168437
kewp
ParticipantI 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.
-
March 12, 2008 at 2:00 PM #168464
kewp
ParticipantI 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.
-
March 12, 2008 at 2:00 PM #168535
kewp
ParticipantI 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.
-
March 12, 2008 at 11:06 PM #168360
capeman
ParticipantWhoa! 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.
-
March 13, 2008 at 6:14 AM #168479
mydogsarelazy
ParticipantWe 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
-
March 13, 2008 at 10:04 AM #168627
Ren
ParticipantThanks 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.
-
March 13, 2008 at 10:04 AM #168957
Ren
ParticipantThanks 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.
-
March 13, 2008 at 10:04 AM #168964
Ren
ParticipantThanks 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.
-
March 13, 2008 at 10:04 AM #168985
Ren
ParticipantThanks 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.
-
March 13, 2008 at 10:04 AM #169063
Ren
ParticipantThanks 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.
-
-
March 13, 2008 at 6:14 AM #168805
mydogsarelazy
ParticipantWe 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
-
March 13, 2008 at 6:14 AM #168813
mydogsarelazy
ParticipantWe 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
-
March 13, 2008 at 6:14 AM #168837
mydogsarelazy
ParticipantWe 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
-
March 13, 2008 at 6:14 AM #168914
mydogsarelazy
ParticipantWe 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
-
-
March 12, 2008 at 11:06 PM #168688
capeman
ParticipantWhoa! 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.
-
March 12, 2008 at 11:06 PM #168691
capeman
ParticipantWhoa! 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.
-
March 12, 2008 at 11:06 PM #168719
capeman
ParticipantWhoa! 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.
-
March 12, 2008 at 11:06 PM #168790
capeman
ParticipantWhoa! 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.
-
-
AuthorPosts
- You must be logged in to reply to this topic.