Question for TemeculaGuy or any Riverside experts

[Tuba]

I’ve been on this forum for most of this year. I work in the construction industry, and we work with about 85-90% of all the new home builders in Riverside. This downturn is effecting everyone and I wanted to ask your professional opinion on some insight and outlook for the regions new home prices.

1. Do you see a bottom of $100 sqft hitting late next year?

2. When was the last time we saw $100 sqft (1997?)?

3. Any news on when the new round of price cuts with any builders?

4. Are the first time home buyers out there, and if so, how is the mortgage meltdown effecting them even under the $417k mark?

I appreciate any response.

[pizzaman]

1. Do you see a bottom of $100 sqft hitting late next year?
Next Year? In Murrieta we’re there now. Check out these 2 listings they are in Wildomar just outside the city limits of Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=1290333
http://www.redfin.com/stingray/do/printable-listing?listing-id=1288205
2. When was the last time we saw $100 sqft (1997?)?
I bought a 2600 sq ft home in Murrieta from the builder in late 2001 for right at $100 psf
3. Any news on when the new round of price cuts with any builders?
Just got an email from KB Homes, they reduced the price of their Shady Grove homes in Fallbrook by 50K

[pizzaman]

1. Do you see a bottom of $100 sqft hitting late next year?
Next Year? In Murrieta we’re there now. Check out these 2 listings they are in Wildomar just outside the city limits of Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=1290333
http://www.redfin.com/stingray/do/printable-listing?listing-id=1288205
2. When was the last time we saw $100 sqft (1997?)?
I bought a 2600 sq ft home in Murrieta from the builder in late 2001 for right at $100 psf
3. Any news on when the new round of price cuts with any builders?
Just got an email from KB Homes, they reduced the price of their Shady Grove homes in Fallbrook by 50K

[pizzaman]

1. Do you see a bottom of $100 sqft hitting late next year?
Next Year? In Murrieta we’re there now. Check out these 2 listings they are in Wildomar just outside the city limits of Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=1290333
http://www.redfin.com/stingray/do/printable-listing?listing-id=1288205
2. When was the last time we saw $100 sqft (1997?)?
I bought a 2600 sq ft home in Murrieta from the builder in late 2001 for right at $100 psf
3. Any news on when the new round of price cuts with any builders?
Just got an email from KB Homes, they reduced the price of their Shady Grove homes in Fallbrook by 50K

[pizzaman]

1. Do you see a bottom of $100 sqft hitting late next year?
Next Year? In Murrieta we’re there now. Check out these 2 listings they are in Wildomar just outside the city limits of Murrieta
http://www.redfin.com/stingray/do/printable-listing?listing-id=1290333
http://www.redfin.com/stingray/do/printable-listing?listing-id=1288205
2. When was the last time we saw $100 sqft (1997?)?
I bought a 2600 sq ft home in Murrieta from the builder in late 2001 for right at $100 psf
3. Any news on when the new round of price cuts with any builders?
Just got an email from KB Homes, they reduced the price of their Shady Grove homes in Fallbrook by 50K

[Tuba]

Wow, if Wildomar is at $100 sqft, then it’s only a matter of months before Murrieta and Temecula get there. The new home builders will have to compete with those re-sale prices. That first house is a great link, it doesn’t look too shabby, and the second house has a pool. These are great first time home buyer prices. Now, my last question is why aren’t they buying the new homes?

PS. Thanks for the response

[Tuba]

Wow, if Wildomar is at $100 sqft, then it’s only a matter of months before Murrieta and Temecula get there. The new home builders will have to compete with those re-sale prices. That first house is a great link, it doesn’t look too shabby, and the second house has a pool. These are great first time home buyer prices. Now, my last question is why aren’t they buying the new homes?

PS. Thanks for the response

[Tuba]

Wow, if Wildomar is at $100 sqft, then it’s only a matter of months before Murrieta and Temecula get there. The new home builders will have to compete with those re-sale prices. That first house is a great link, it doesn’t look too shabby, and the second house has a pool. These are great first time home buyer prices. Now, my last question is why aren’t they buying the new homes?

PS. Thanks for the response

[Tuba]

Wow, if Wildomar is at $100 sqft, then it’s only a matter of months before Murrieta and Temecula get there. The new home builders will have to compete with those re-sale prices. That first house is a great link, it doesn’t look too shabby, and the second house has a pool. These are great first time home buyer prices. Now, my last question is why aren’t they buying the new homes?

PS. Thanks for the response

[(former)FormerSanDiegan]

Now, my last question is why aren’t they buying the new homes?

They cannot afford them.

[(former)FormerSanDiegan]

Now, my last question is why aren’t they buying the new homes?

They cannot afford them.

[(former)FormerSanDiegan]

Now, my last question is why aren’t they buying the new homes?

They cannot afford them.

[(former)FormerSanDiegan]

Now, my last question is why aren’t they buying the new homes?

They cannot afford them.

[pizzaman]

Wow, if Wildomar is at $100 sqft, then it’s only a matter of months before Murrieta and Temecula get there

Months? Nah, hours. I looked around a little more and found one under $100psf inside the city limits of Murrieta. 1/4 acre lot to boot.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1019468

[pizzaman]

Wow, if Wildomar is at $100 sqft, then it’s only a matter of months before Murrieta and Temecula get there

Months? Nah, hours. I looked around a little more and found one under $100psf inside the city limits of Murrieta. 1/4 acre lot to boot.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1019468

[Author]

Posts