should I buy in temecula

[temeculaguy]

But the situation has more to do with chronology than geography. 2003 should have been the peak of the last cycle had it not been extended through creative financing.

I have someone very close to me who bought in Pt. Loma at the same time you did and paid almost the exact same amount. They have also made every payment and have nothing to show for it at the moment, like you. They are actually in a worse off situation as the going rent is about 1100 to 1200 with 300 in hoa fees. Like many folks they have a relatively high interest rate and cannot refi because of the negative equity, and have an I/O that will be resetting. You are in a fixed loan, have stable employment, the lack of appreciation is all you have to contend with. So is it the location, or the timing? Granted it’s a 1 br condo, but it is what 270ish bought you in 2003 in pt. loma. Their ony hope is to refi to current rates and convert to a fixed. They never intended on making a profit. Of course in 2008 they could have bought two townhomes in temecula for that price and rented one for 1500 and lived in the other. So was it 2008 vs 2003 or san diego vs temecula. They will keep it, if their housing needs change, they can afford to keep it as a rental and just ride it out, most people are like that, their net worth on paper doesn’t bend them out of shape, my explanation did, but there’s more to life than savvy investments. Enjoy San Diego paramount, I’m not being sarcastic when I say that, this is a good place for those of us who enjoy it, it didn’t work out for you, I hope your next stop does work for you, wherever it may be. But remember, the person that said location is everything in real estate was incorrect, timing is everything. The same holds true for sex and slot machines, timing is the most important factor.

[temeculaguy]

bearishgirl, some of your stereotypes and impressions of my beloved hood are so inaccurate that I’m willing to be your tour guide. You can join the GF and I on our next wine tasting outing, my treat, we’ll show you around, I’m sure you will see things differently. Send me a private message and we can set up a date and time. We hit the wineries about twice a month, we will sprinkle in an hour or two of a tour before hand. Of course if you are not a wine drinker or at least willing to learn, then the offer is void. My time is far too valuable to spend it with sober people.

[temeculaguy]

bearishgirl, some of your stereotypes and impressions of my beloved hood are so inaccurate that I’m willing to be your tour guide. You can join the GF and I on our next wine tasting outing, my treat, we’ll show you around, I’m sure you will see things differently. Send me a private message and we can set up a date and time. We hit the wineries about twice a month, we will sprinkle in an hour or two of a tour before hand. Of course if you are not a wine drinker or at least willing to learn, then the offer is void. My time is far too valuable to spend it with sober people.

[temeculaguy]

bearishgirl, some of your stereotypes and impressions of my beloved hood are so inaccurate that I’m willing to be your tour guide. You can join the GF and I on our next wine tasting outing, my treat, we’ll show you around, I’m sure you will see things differently. Send me a private message and we can set up a date and time. We hit the wineries about twice a month, we will sprinkle in an hour or two of a tour before hand. Of course if you are not a wine drinker or at least willing to learn, then the offer is void. My time is far too valuable to spend it with sober people.

[temeculaguy]

bearishgirl, some of your stereotypes and impressions of my beloved hood are so inaccurate that I’m willing to be your tour guide. You can join the GF and I on our next wine tasting outing, my treat, we’ll show you around, I’m sure you will see things differently. Send me a private message and we can set up a date and time. We hit the wineries about twice a month, we will sprinkle in an hour or two of a tour before hand. Of course if you are not a wine drinker or at least willing to learn, then the offer is void. My time is far too valuable to spend it with sober people.

[temeculaguy]

bearishgirl, some of your stereotypes and impressions of my beloved hood are so inaccurate that I’m willing to be your tour guide. You can join the GF and I on our next wine tasting outing, my treat, we’ll show you around, I’m sure you will see things differently. Send me a private message and we can set up a date and time. We hit the wineries about twice a month, we will sprinkle in an hour or two of a tour before hand. Of course if you are not a wine drinker or at least willing to learn, then the offer is void. My time is far too valuable to spend it with sober people.

[bearishgurl]

[quote=carlsbadworker]Wait a minute. ~$1600/month is not that small. That is $300K loan at 5%. For a 1500sqft house, that’s too much. That just proves TG’s point that Temecula is bad for those who bought at the bubble years. If you instead only have $200K loan and you are able to refine at today’s approaching 4% 30-year fixed with FED’s help, then that’s only $1K per month. You will be able to close-to cash flow at this price. You can move to San Diego and leave this as a rental, and exactly Ren’s point.[/quote]

carlsbadworker, the interest rate for a 30 yr. fix (for prime borrowers) in 2003 was about 5.75% – 6.5%, NOT 5%. This rate did not plummet until 2004.

I understand that $270K may have been “too much” to pay for a 1500 sf house in TV at that time but nobody knew this in 2003. If you asked Pigg agents who were working back then, they will tell you that their buyer-clients back then got loans at the prevailing interest rate at the time and they sold properties for the price they would bear at the time, as their seller-clients instructed them to.

I’ve had mortgages with 12.5% interest and 10.5% interest, all the while having excellent credit. These was the prevailing rates at the time. FWIW, we made a small profit on each at the time of sale :=)

Coulda, woulda, shoulda, CW, the horse has left the gate. Can I just ask you if you bought your own property at or near the bottom of the market and when you bought it, did you think that was the “bottom” at the time?

[bearishgurl]

[quote=carlsbadworker]Wait a minute. ~$1600/month is not that small. That is $300K loan at 5%. For a 1500sqft house, that’s too much. That just proves TG’s point that Temecula is bad for those who bought at the bubble years. If you instead only have $200K loan and you are able to refine at today’s approaching 4% 30-year fixed with FED’s help, then that’s only $1K per month. You will be able to close-to cash flow at this price. You can move to San Diego and leave this as a rental, and exactly Ren’s point.[/quote]

carlsbadworker, the interest rate for a 30 yr. fix (for prime borrowers) in 2003 was about 5.75% – 6.5%, NOT 5%. This rate did not plummet until 2004.

I understand that $270K may have been “too much” to pay for a 1500 sf house in TV at that time but nobody knew this in 2003. If you asked Pigg agents who were working back then, they will tell you that their buyer-clients back then got loans at the prevailing interest rate at the time and they sold properties for the price they would bear at the time, as their seller-clients instructed them to.

I’ve had mortgages with 12.5% interest and 10.5% interest, all the while having excellent credit. These was the prevailing rates at the time. FWIW, we made a small profit on each at the time of sale :=)

Coulda, woulda, shoulda, CW, the horse has left the gate. Can I just ask you if you bought your own property at or near the bottom of the market and when you bought it, did you think that was the “bottom” at the time?

[bearishgurl]

[quote=carlsbadworker]Wait a minute. ~$1600/month is not that small. That is $300K loan at 5%. For a 1500sqft house, that’s too much. That just proves TG’s point that Temecula is bad for those who bought at the bubble years. If you instead only have $200K loan and you are able to refine at today’s approaching 4% 30-year fixed with FED’s help, then that’s only $1K per month. You will be able to close-to cash flow at this price. You can move to San Diego and leave this as a rental, and exactly Ren’s point.[/quote]

carlsbadworker, the interest rate for a 30 yr. fix (for prime borrowers) in 2003 was about 5.75% – 6.5%, NOT 5%. This rate did not plummet until 2004.

I understand that $270K may have been “too much” to pay for a 1500 sf house in TV at that time but nobody knew this in 2003. If you asked Pigg agents who were working back then, they will tell you that their buyer-clients back then got loans at the prevailing interest rate at the time and they sold properties for the price they would bear at the time, as their seller-clients instructed them to.

I’ve had mortgages with 12.5% interest and 10.5% interest, all the while having excellent credit. These was the prevailing rates at the time. FWIW, we made a small profit on each at the time of sale :=)

Coulda, woulda, shoulda, CW, the horse has left the gate. Can I just ask you if you bought your own property at or near the bottom of the market and when you bought it, did you think that was the “bottom” at the time?

[bearishgurl]

[quote=carlsbadworker]Wait a minute. ~$1600/month is not that small. That is $300K loan at 5%. For a 1500sqft house, that’s too much. That just proves TG’s point that Temecula is bad for those who bought at the bubble years. If you instead only have $200K loan and you are able to refine at today’s approaching 4% 30-year fixed with FED’s help, then that’s only $1K per month. You will be able to close-to cash flow at this price. You can move to San Diego and leave this as a rental, and exactly Ren’s point.[/quote]

carlsbadworker, the interest rate for a 30 yr. fix (for prime borrowers) in 2003 was about 5.75% – 6.5%, NOT 5%. This rate did not plummet until 2004.

I understand that $270K may have been “too much” to pay for a 1500 sf house in TV at that time but nobody knew this in 2003. If you asked Pigg agents who were working back then, they will tell you that their buyer-clients back then got loans at the prevailing interest rate at the time and they sold properties for the price they would bear at the time, as their seller-clients instructed them to.

I’ve had mortgages with 12.5% interest and 10.5% interest, all the while having excellent credit. These was the prevailing rates at the time. FWIW, we made a small profit on each at the time of sale :=)

Coulda, woulda, shoulda, CW, the horse has left the gate. Can I just ask you if you bought your own property at or near the bottom of the market and when you bought it, did you think that was the “bottom” at the time?

[bearishgurl]

[quote=carlsbadworker]Wait a minute. ~$1600/month is not that small. That is $300K loan at 5%. For a 1500sqft house, that’s too much. That just proves TG’s point that Temecula is bad for those who bought at the bubble years. If you instead only have $200K loan and you are able to refine at today’s approaching 4% 30-year fixed with FED’s help, then that’s only $1K per month. You will be able to close-to cash flow at this price. You can move to San Diego and leave this as a rental, and exactly Ren’s point.[/quote]

carlsbadworker, the interest rate for a 30 yr. fix (for prime borrowers) in 2003 was about 5.75% – 6.5%, NOT 5%. This rate did not plummet until 2004.

I understand that $270K may have been “too much” to pay for a 1500 sf house in TV at that time but nobody knew this in 2003. If you asked Pigg agents who were working back then, they will tell you that their buyer-clients back then got loans at the prevailing interest rate at the time and they sold properties for the price they would bear at the time, as their seller-clients instructed them to.

I’ve had mortgages with 12.5% interest and 10.5% interest, all the while having excellent credit. These was the prevailing rates at the time. FWIW, we made a small profit on each at the time of sale :=)

Coulda, woulda, shoulda, CW, the horse has left the gate. Can I just ask you if you bought your own property at or near the bottom of the market and when you bought it, did you think that was the “bottom” at the time?

[temeculaguy]

Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts. I wish I had seen that earlier, I have a busy day tomorrow and have little time to go link all the API scores again, for the twnetienth time. The tem school district is alot of things, but “O.K.” isn’t one of them. I had to show my gas bill in may, in june and again last week in order for my kids to stay enrolled in our high school. My kids have their names on five houses in this zip code and registering for school is harder than getting into and out of communist countries even with a stack of utility bills. Dozens of kids from S.D. County, areas like fallbrook and valley center try to sneak into the local schools, especially theirs. I’m not sure how they get away with it but I spent the summer going to a few parties related to my kids sports and activities, none of them were within the boundaries. I guess people drive 20 minutes every day to go to “O.K.” schools. Find me a place with 800 and 900 api’s from elementary through high school in the majority of the schools that isnt in carlsbad, poway or encinitas districts and I’ll let this go, but until then, no deal.

here are the links

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3375192

run yor own

http://api.cde.ca.gov/reports/page2.asp?subject=API&level=District&submit1=submit

hit the list of schools

oh here is carlsbad

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3773551

my kids hs beats it, so did their middle and elem and that is the one place i put on a pedestal.

heres san diego

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3768338

see those 1’s, 2’s 3’s, have fun with that.

9’s or 10’s, A’s, nothing but 800 and 900 except for the 62 kids in a continuation school and we are going to call that “o.k.” That’s bullshit, it’s the highest peforming school district in riv and san berandino counties, it would give the top notch sd district a run for its money, maybe placing in the top 5%, poway is almost unbeatable, they deserve props. But i refuse to accept “O.K.”

Bring the data baby, I did.

[temeculaguy]

Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts. I wish I had seen that earlier, I have a busy day tomorrow and have little time to go link all the API scores again, for the twnetienth time. The tem school district is alot of things, but “O.K.” isn’t one of them. I had to show my gas bill in may, in june and again last week in order for my kids to stay enrolled in our high school. My kids have their names on five houses in this zip code and registering for school is harder than getting into and out of communist countries even with a stack of utility bills. Dozens of kids from S.D. County, areas like fallbrook and valley center try to sneak into the local schools, especially theirs. I’m not sure how they get away with it but I spent the summer going to a few parties related to my kids sports and activities, none of them were within the boundaries. I guess people drive 20 minutes every day to go to “O.K.” schools. Find me a place with 800 and 900 api’s from elementary through high school in the majority of the schools that isnt in carlsbad, poway or encinitas districts and I’ll let this go, but until then, no deal.

here are the links

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3375192

run yor own

http://api.cde.ca.gov/reports/page2.asp?subject=API&level=District&submit1=submit

hit the list of schools

oh here is carlsbad

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3773551

my kids hs beats it, so did their middle and elem and that is the one place i put on a pedestal.

heres san diego

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3768338

see those 1’s, 2’s 3’s, have fun with that.

9’s or 10’s, A’s, nothing but 800 and 900 except for the 62 kids in a continuation school and we are going to call that “o.k.” That’s bullshit, it’s the highest peforming school district in riv and san berandino counties, it would give the top notch sd district a run for its money, maybe placing in the top 5%, poway is almost unbeatable, they deserve props. But i refuse to accept “O.K.”

Bring the data baby, I did.

[temeculaguy]

Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts. I wish I had seen that earlier, I have a busy day tomorrow and have little time to go link all the API scores again, for the twnetienth time. The tem school district is alot of things, but “O.K.” isn’t one of them. I had to show my gas bill in may, in june and again last week in order for my kids to stay enrolled in our high school. My kids have their names on five houses in this zip code and registering for school is harder than getting into and out of communist countries even with a stack of utility bills. Dozens of kids from S.D. County, areas like fallbrook and valley center try to sneak into the local schools, especially theirs. I’m not sure how they get away with it but I spent the summer going to a few parties related to my kids sports and activities, none of them were within the boundaries. I guess people drive 20 minutes every day to go to “O.K.” schools. Find me a place with 800 and 900 api’s from elementary through high school in the majority of the schools that isnt in carlsbad, poway or encinitas districts and I’ll let this go, but until then, no deal.

here are the links

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3375192

run yor own

http://api.cde.ca.gov/reports/page2.asp?subject=API&level=District&submit1=submit

hit the list of schools

oh here is carlsbad

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3773551

my kids hs beats it, so did their middle and elem and that is the one place i put on a pedestal.

heres san diego

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3768338

see those 1’s, 2’s 3’s, have fun with that.

9’s or 10’s, A’s, nothing but 800 and 900 except for the 62 kids in a continuation school and we are going to call that “o.k.” That’s bullshit, it’s the highest peforming school district in riv and san berandino counties, it would give the top notch sd district a run for its money, maybe placing in the top 5%, poway is almost unbeatable, they deserve props. But i refuse to accept “O.K.”

Bring the data baby, I did.

[temeculaguy]

Oh geez, “OK Schools” it’s totally past my bedtime but that one hurts. I wish I had seen that earlier, I have a busy day tomorrow and have little time to go link all the API scores again, for the twnetienth time. The tem school district is alot of things, but “O.K.” isn’t one of them. I had to show my gas bill in may, in june and again last week in order for my kids to stay enrolled in our high school. My kids have their names on five houses in this zip code and registering for school is harder than getting into and out of communist countries even with a stack of utility bills. Dozens of kids from S.D. County, areas like fallbrook and valley center try to sneak into the local schools, especially theirs. I’m not sure how they get away with it but I spent the summer going to a few parties related to my kids sports and activities, none of them were within the boundaries. I guess people drive 20 minutes every day to go to “O.K.” schools. Find me a place with 800 and 900 api’s from elementary through high school in the majority of the schools that isnt in carlsbad, poway or encinitas districts and I’ll let this go, but until then, no deal.

here are the links

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3375192

run yor own

http://api.cde.ca.gov/reports/page2.asp?subject=API&level=District&submit1=submit

hit the list of schools

oh here is carlsbad

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3773551

my kids hs beats it, so did their middle and elem and that is the one place i put on a pedestal.

heres san diego

http://api.cde.ca.gov/AcntRpt2010/2009Base_Dst.aspx?allcds=3768338

see those 1’s, 2’s 3’s, have fun with that.

9’s or 10’s, A’s, nothing but 800 and 900 except for the 62 kids in a continuation school and we are going to call that “o.k.” That’s bullshit, it’s the highest peforming school district in riv and san berandino counties, it would give the top notch sd district a run for its money, maybe placing in the top 5%, poway is almost unbeatable, they deserve props. But i refuse to accept “O.K.”

Bring the data baby, I did.

[Author]

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