- This topic has 149 replies, 27 voices, and was last updated 16 years, 5 months ago by
temeculaguy.
-
AuthorPosts
-
November 13, 2007 at 7:47 AM #98971November 13, 2007 at 7:47 AM #99030
snail
Participantbsshrama
Where is “Rancho Del Vista Del Harmony Estates”? is this fictious name to protect the innocent? Loved this article please keep it coming….November 13, 2007 at 7:47 AM #99047Participantbsshrama
Where is “Rancho Del Vista Del Harmony Estates”? is this fictious name to protect the innocent? Loved this article please keep it coming….November 13, 2007 at 7:47 AM #99052Participantbsshrama
Where is “Rancho Del Vista Del Harmony Estates”? is this fictious name to protect the innocent? Loved this article please keep it coming….November 13, 2007 at 8:42 AM #98983garysears
ParticipantTG, I don’t know anything about Temecula. I have posted a few threads here about El Cajon condo prices. In one of those threads I pointed out how condos were selling for early 80’s prices in the late 90’s. Referring to one particular complex you advised me that below 150k would start to look attractive to investors and they will never go below 100k (120-150x rent). Here is the link:
http://piggington.com/el_cajon_condo_blowout_27_in_8_months
Today there is an REO for 140k in that complex:
http://www.sdlookup.com/MLS-071066633-745_E_Bradley_Ave_39_El_Cajon_CA_92021745 E BRADLEY AVE #39, El Cajon, CA 92021**
MLS #: 071066633El Cajon is not Temecula but I have been astonished at the speed of the price declines here. A year ago I would not have imagined 140k was possible. The all time peak of 274k just happens to be the REO in question. So there is a 50% reduction 2.5 years after the peak sale closed. (Legal number of unit is #139. Number on building is #39.)
05/24/2005 $274,000
09/20/2001 $82,600
10/18/1983 $59,500If anyone wants to win the 50% off last sales price contest I’m sure you can get this one for 137k.
I’m now starting to look at SFR’s in the area. The price I previously thought I might pay for a nice condo will likely buy an small SFR with garage in a few years. If I buy a 2bd condo I’m thinking 2/3 to 70% off peak prices.
I’m just saying if it can happen in El Cajon it might happen there. Best wishes. Knives are sharp!
November 13, 2007 at 8:42 AM #99042ParticipantTG, I don’t know anything about Temecula. I have posted a few threads here about El Cajon condo prices. In one of those threads I pointed out how condos were selling for early 80’s prices in the late 90’s. Referring to one particular complex you advised me that below 150k would start to look attractive to investors and they will never go below 100k (120-150x rent). Here is the link:
http://piggington.com/el_cajon_condo_blowout_27_in_8_months
Today there is an REO for 140k in that complex:
http://www.sdlookup.com/MLS-071066633-745_E_Bradley_Ave_39_El_Cajon_CA_92021745 E BRADLEY AVE #39, El Cajon, CA 92021**
MLS #: 071066633El Cajon is not Temecula but I have been astonished at the speed of the price declines here. A year ago I would not have imagined 140k was possible. The all time peak of 274k just happens to be the REO in question. So there is a 50% reduction 2.5 years after the peak sale closed. (Legal number of unit is #139. Number on building is #39.)
05/24/2005 $274,000
09/20/2001 $82,600
10/18/1983 $59,500If anyone wants to win the 50% off last sales price contest I’m sure you can get this one for 137k.
I’m now starting to look at SFR’s in the area. The price I previously thought I might pay for a nice condo will likely buy an small SFR with garage in a few years. If I buy a 2bd condo I’m thinking 2/3 to 70% off peak prices.
I’m just saying if it can happen in El Cajon it might happen there. Best wishes. Knives are sharp!
November 13, 2007 at 8:42 AM #99059ParticipantTG, I don’t know anything about Temecula. I have posted a few threads here about El Cajon condo prices. In one of those threads I pointed out how condos were selling for early 80’s prices in the late 90’s. Referring to one particular complex you advised me that below 150k would start to look attractive to investors and they will never go below 100k (120-150x rent). Here is the link:
http://piggington.com/el_cajon_condo_blowout_27_in_8_months
Today there is an REO for 140k in that complex:
http://www.sdlookup.com/MLS-071066633-745_E_Bradley_Ave_39_El_Cajon_CA_92021745 E BRADLEY AVE #39, El Cajon, CA 92021**
MLS #: 071066633El Cajon is not Temecula but I have been astonished at the speed of the price declines here. A year ago I would not have imagined 140k was possible. The all time peak of 274k just happens to be the REO in question. So there is a 50% reduction 2.5 years after the peak sale closed. (Legal number of unit is #139. Number on building is #39.)
05/24/2005 $274,000
09/20/2001 $82,600
10/18/1983 $59,500If anyone wants to win the 50% off last sales price contest I’m sure you can get this one for 137k.
I’m now starting to look at SFR’s in the area. The price I previously thought I might pay for a nice condo will likely buy an small SFR with garage in a few years. If I buy a 2bd condo I’m thinking 2/3 to 70% off peak prices.
I’m just saying if it can happen in El Cajon it might happen there. Best wishes. Knives are sharp!
November 13, 2007 at 8:42 AM #99064ParticipantTG, I don’t know anything about Temecula. I have posted a few threads here about El Cajon condo prices. In one of those threads I pointed out how condos were selling for early 80’s prices in the late 90’s. Referring to one particular complex you advised me that below 150k would start to look attractive to investors and they will never go below 100k (120-150x rent). Here is the link:
http://piggington.com/el_cajon_condo_blowout_27_in_8_months
Today there is an REO for 140k in that complex:
http://www.sdlookup.com/MLS-071066633-745_E_Bradley_Ave_39_El_Cajon_CA_92021745 E BRADLEY AVE #39, El Cajon, CA 92021**
MLS #: 071066633El Cajon is not Temecula but I have been astonished at the speed of the price declines here. A year ago I would not have imagined 140k was possible. The all time peak of 274k just happens to be the REO in question. So there is a 50% reduction 2.5 years after the peak sale closed. (Legal number of unit is #139. Number on building is #39.)
05/24/2005 $274,000
09/20/2001 $82,600
10/18/1983 $59,500If anyone wants to win the 50% off last sales price contest I’m sure you can get this one for 137k.
I’m now starting to look at SFR’s in the area. The price I previously thought I might pay for a nice condo will likely buy an small SFR with garage in a few years. If I buy a 2bd condo I’m thinking 2/3 to 70% off peak prices.
I’m just saying if it can happen in El Cajon it might happen there. Best wishes. Knives are sharp!
November 13, 2007 at 10:05 AM #99006bsrsharma
Participantsnail – I think it is a made up name. Since PE is a Temecula newspaper, the RDV part probably refers to an area there. There is an RDV in Chula Vista area also, I think.
November 13, 2007 at 10:05 AM #99065Participantsnail – I think it is a made up name. Since PE is a Temecula newspaper, the RDV part probably refers to an area there. There is an RDV in Chula Vista area also, I think.
November 13, 2007 at 10:05 AM #99083Participantsnail – I think it is a made up name. Since PE is a Temecula newspaper, the RDV part probably refers to an area there. There is an RDV in Chula Vista area also, I think.
November 13, 2007 at 10:05 AM #99088Participantsnail – I think it is a made up name. Since PE is a Temecula newspaper, the RDV part probably refers to an area there. There is an RDV in Chula Vista area also, I think.
November 13, 2007 at 4:00 PM #99121Sandi Egan
ParticipantTG,
Consider this:
Being situated where it is, Temecula is not only one of the first places to be hit by the decline, it also will be among the last to pick up next time around. If you buy now, you are sure to be locked up in your property for a very long time. On the other hand, if you resist the urge now, in a year or two you will find yourself in a MUCH better situation. Sure, 400K for 3000 sqft sounds tempting, and you can negotiate it even lower by Feb. In a year you will still be able to buy a cheap house, but you will also have a great choice of locations, features, views… Sellers will entertain your offers like you can’t imagine.
Wait just a little longer, resist the temptation, and you will be rewarded: your house will not be just a good deal. It will be the home of your dreams.
November 13, 2007 at 4:00 PM #99182ParticipantTG,
Consider this:
Being situated where it is, Temecula is not only one of the first places to be hit by the decline, it also will be among the last to pick up next time around. If you buy now, you are sure to be locked up in your property for a very long time. On the other hand, if you resist the urge now, in a year or two you will find yourself in a MUCH better situation. Sure, 400K for 3000 sqft sounds tempting, and you can negotiate it even lower by Feb. In a year you will still be able to buy a cheap house, but you will also have a great choice of locations, features, views… Sellers will entertain your offers like you can’t imagine.
Wait just a little longer, resist the temptation, and you will be rewarded: your house will not be just a good deal. It will be the home of your dreams.
November 13, 2007 at 4:00 PM #99198ParticipantTG,
Consider this:
Being situated where it is, Temecula is not only one of the first places to be hit by the decline, it also will be among the last to pick up next time around. If you buy now, you are sure to be locked up in your property for a very long time. On the other hand, if you resist the urge now, in a year or two you will find yourself in a MUCH better situation. Sure, 400K for 3000 sqft sounds tempting, and you can negotiate it even lower by Feb. In a year you will still be able to buy a cheap house, but you will also have a great choice of locations, features, views… Sellers will entertain your offers like you can’t imagine.
Wait just a little longer, resist the temptation, and you will be rewarded: your house will not be just a good deal. It will be the home of your dreams.
-
AuthorPosts
- You must be logged in to reply to this topic.