Still looking in Temecula, but…

[bearvine]

Of course bank robberies can happen anywhere, just trying to infuse some humor. And to make a point. Why decide to live close to a prison/jail and buy in French Valley? Especially when deals are to be had in nice areas of Murrieta and Temecula?

Just drive through the area, you do not need to look at stats.

Go ahead and post the links Tony, I’ll give you mine and you may get Marlo/TG’s take when he gets back from the islands as well

[23109VC]

Here I am… I saw my name further up in this thread.

yeah, I bought my 1900 sq ft home for 350k. didn’t think it would go lower. you all said it would. it did. shoot me. 🙂 I gambled and lost. I will admit it.

A home in my same development, that is similar to mine in terms of upgrades, yet larger at 2400sq ft is listing for 375k. given the way things are going, it would not suprise me if my house hits the 200s. high 200s or low 200s… we’ll wait and see.

I’m really not as worried about it as I thought I would be. I really do like my house. I have a fixed rate mortgage with a good rate. So my “losses” are on paper.

I do know that I have kids, I have a stable place to live, and we like our neighborhood/community. I also enjoy being able to fix up/change things, which I could not do if I was renting..or I guess I could, but you wouldn’t do it. For example, since buying I have made modest improvements (cheap, but my own labor/time) that I like, and would not have done to a rental. I’ve installed storage systems in my garage, epoxy coated my floors, upgraded landscaping, am going to do closet organizers… stuff that impacts my day to day enjoyment of the house – and makes my life easier.

you can all make fun of me, say I told you so, or whatever. I’m not really upset. I bought this house as a place to live and raise my kids, not as an investment, or to flip.

I think my only regret will be that in 6-12 months, if the $hit really hits the fan and houses are selling at 250k… then i’ll think that for the same $$ I could have bought a bigger/better house… or simply could have bought my house at a more reasonable price, and put the $$/difference into a better invesement…

i always look on the bright side. i have a good job, which is stable, and somewhat insulated from the economic problems. I know people who have been laid off, and are losing their home, and that’s sad. So, it would be nice if I was renting, and thining I saved money, but things could always be a lot lot worse too.

I went in 100%, so while I may have “lost” money, it’s all on paper. If I were to walk way, I’m not going to lose any money. Not that I’m going to do that, but I guess, in a way, if the market just went down the drain completely, and my $350k house suddenly is worth $100k and rents are at $1000/month. there comes a point where you would feel just plain stupid to keep paying hte mortgage because the values have gone SO LOW that to not just walk away and take advantage of lower rents/etc would be stupidity…the hit to your credit/reputation/price/whatever would be outweighed by the tremendous money you would ave.

where is that point? I don’t know. Right now, even if you say I’m $50k upside down… I’m not thinking “oh no, I need to walk away from my house…” I like it, and plan to be here for the long run.

if in a year and a half, we’ve gone through a mega recession, there is massive unemployment, houses are a dime a dozen, and my house is worth 100k, and I could rent it for $750/month… then maybe you start thinking that you walk…

when/what is that point at which the value/upside down “ratio” or whatever you want to call it is SO serious that it’s actually stupid to stay and pay? I don’t know.

🙂

[23109VC]

Here I am… I saw my name further up in this thread.

yeah, I bought my 1900 sq ft home for 350k. didn’t think it would go lower. you all said it would. it did. shoot me. 🙂 I gambled and lost. I will admit it.

A home in my same development, that is similar to mine in terms of upgrades, yet larger at 2400sq ft is listing for 375k. given the way things are going, it would not suprise me if my house hits the 200s. high 200s or low 200s… we’ll wait and see.

I’m really not as worried about it as I thought I would be. I really do like my house. I have a fixed rate mortgage with a good rate. So my “losses” are on paper.

I do know that I have kids, I have a stable place to live, and we like our neighborhood/community. I also enjoy being able to fix up/change things, which I could not do if I was renting..or I guess I could, but you wouldn’t do it. For example, since buying I have made modest improvements (cheap, but my own labor/time) that I like, and would not have done to a rental. I’ve installed storage systems in my garage, epoxy coated my floors, upgraded landscaping, am going to do closet organizers… stuff that impacts my day to day enjoyment of the house – and makes my life easier.

you can all make fun of me, say I told you so, or whatever. I’m not really upset. I bought this house as a place to live and raise my kids, not as an investment, or to flip.

I think my only regret will be that in 6-12 months, if the $hit really hits the fan and houses are selling at 250k… then i’ll think that for the same $$ I could have bought a bigger/better house… or simply could have bought my house at a more reasonable price, and put the $$/difference into a better invesement…

i always look on the bright side. i have a good job, which is stable, and somewhat insulated from the economic problems. I know people who have been laid off, and are losing their home, and that’s sad. So, it would be nice if I was renting, and thining I saved money, but things could always be a lot lot worse too.

I went in 100%, so while I may have “lost” money, it’s all on paper. If I were to walk way, I’m not going to lose any money. Not that I’m going to do that, but I guess, in a way, if the market just went down the drain completely, and my $350k house suddenly is worth $100k and rents are at $1000/month. there comes a point where you would feel just plain stupid to keep paying hte mortgage because the values have gone SO LOW that to not just walk away and take advantage of lower rents/etc would be stupidity…the hit to your credit/reputation/price/whatever would be outweighed by the tremendous money you would ave.

where is that point? I don’t know. Right now, even if you say I’m $50k upside down… I’m not thinking “oh no, I need to walk away from my house…” I like it, and plan to be here for the long run.

if in a year and a half, we’ve gone through a mega recession, there is massive unemployment, houses are a dime a dozen, and my house is worth 100k, and I could rent it for $750/month… then maybe you start thinking that you walk…

when/what is that point at which the value/upside down “ratio” or whatever you want to call it is SO serious that it’s actually stupid to stay and pay? I don’t know.

🙂

[23109VC]

Here I am… I saw my name further up in this thread.

yeah, I bought my 1900 sq ft home for 350k. didn’t think it would go lower. you all said it would. it did. shoot me. 🙂 I gambled and lost. I will admit it.

A home in my same development, that is similar to mine in terms of upgrades, yet larger at 2400sq ft is listing for 375k. given the way things are going, it would not suprise me if my house hits the 200s. high 200s or low 200s… we’ll wait and see.

I’m really not as worried about it as I thought I would be. I really do like my house. I have a fixed rate mortgage with a good rate. So my “losses” are on paper.

I do know that I have kids, I have a stable place to live, and we like our neighborhood/community. I also enjoy being able to fix up/change things, which I could not do if I was renting..or I guess I could, but you wouldn’t do it. For example, since buying I have made modest improvements (cheap, but my own labor/time) that I like, and would not have done to a rental. I’ve installed storage systems in my garage, epoxy coated my floors, upgraded landscaping, am going to do closet organizers… stuff that impacts my day to day enjoyment of the house – and makes my life easier.

you can all make fun of me, say I told you so, or whatever. I’m not really upset. I bought this house as a place to live and raise my kids, not as an investment, or to flip.

I think my only regret will be that in 6-12 months, if the $hit really hits the fan and houses are selling at 250k… then i’ll think that for the same $$ I could have bought a bigger/better house… or simply could have bought my house at a more reasonable price, and put the $$/difference into a better invesement…

i always look on the bright side. i have a good job, which is stable, and somewhat insulated from the economic problems. I know people who have been laid off, and are losing their home, and that’s sad. So, it would be nice if I was renting, and thining I saved money, but things could always be a lot lot worse too.

I went in 100%, so while I may have “lost” money, it’s all on paper. If I were to walk way, I’m not going to lose any money. Not that I’m going to do that, but I guess, in a way, if the market just went down the drain completely, and my $350k house suddenly is worth $100k and rents are at $1000/month. there comes a point where you would feel just plain stupid to keep paying hte mortgage because the values have gone SO LOW that to not just walk away and take advantage of lower rents/etc would be stupidity…the hit to your credit/reputation/price/whatever would be outweighed by the tremendous money you would ave.

where is that point? I don’t know. Right now, even if you say I’m $50k upside down… I’m not thinking “oh no, I need to walk away from my house…” I like it, and plan to be here for the long run.

if in a year and a half, we’ve gone through a mega recession, there is massive unemployment, houses are a dime a dozen, and my house is worth 100k, and I could rent it for $750/month… then maybe you start thinking that you walk…

when/what is that point at which the value/upside down “ratio” or whatever you want to call it is SO serious that it’s actually stupid to stay and pay? I don’t know.

🙂

[23109VC]

Here I am… I saw my name further up in this thread.

yeah, I bought my 1900 sq ft home for 350k. didn’t think it would go lower. you all said it would. it did. shoot me. 🙂 I gambled and lost. I will admit it.

A home in my same development, that is similar to mine in terms of upgrades, yet larger at 2400sq ft is listing for 375k. given the way things are going, it would not suprise me if my house hits the 200s. high 200s or low 200s… we’ll wait and see.

I’m really not as worried about it as I thought I would be. I really do like my house. I have a fixed rate mortgage with a good rate. So my “losses” are on paper.

I do know that I have kids, I have a stable place to live, and we like our neighborhood/community. I also enjoy being able to fix up/change things, which I could not do if I was renting..or I guess I could, but you wouldn’t do it. For example, since buying I have made modest improvements (cheap, but my own labor/time) that I like, and would not have done to a rental. I’ve installed storage systems in my garage, epoxy coated my floors, upgraded landscaping, am going to do closet organizers… stuff that impacts my day to day enjoyment of the house – and makes my life easier.

you can all make fun of me, say I told you so, or whatever. I’m not really upset. I bought this house as a place to live and raise my kids, not as an investment, or to flip.

I think my only regret will be that in 6-12 months, if the $hit really hits the fan and houses are selling at 250k… then i’ll think that for the same $$ I could have bought a bigger/better house… or simply could have bought my house at a more reasonable price, and put the $$/difference into a better invesement…

i always look on the bright side. i have a good job, which is stable, and somewhat insulated from the economic problems. I know people who have been laid off, and are losing their home, and that’s sad. So, it would be nice if I was renting, and thining I saved money, but things could always be a lot lot worse too.

I went in 100%, so while I may have “lost” money, it’s all on paper. If I were to walk way, I’m not going to lose any money. Not that I’m going to do that, but I guess, in a way, if the market just went down the drain completely, and my $350k house suddenly is worth $100k and rents are at $1000/month. there comes a point where you would feel just plain stupid to keep paying hte mortgage because the values have gone SO LOW that to not just walk away and take advantage of lower rents/etc would be stupidity…the hit to your credit/reputation/price/whatever would be outweighed by the tremendous money you would ave.

where is that point? I don’t know. Right now, even if you say I’m $50k upside down… I’m not thinking “oh no, I need to walk away from my house…” I like it, and plan to be here for the long run.

if in a year and a half, we’ve gone through a mega recession, there is massive unemployment, houses are a dime a dozen, and my house is worth 100k, and I could rent it for $750/month… then maybe you start thinking that you walk…

when/what is that point at which the value/upside down “ratio” or whatever you want to call it is SO serious that it’s actually stupid to stay and pay? I don’t know.

🙂

[23109VC]

Here I am… I saw my name further up in this thread.

yeah, I bought my 1900 sq ft home for 350k. didn’t think it would go lower. you all said it would. it did. shoot me. 🙂 I gambled and lost. I will admit it.

A home in my same development, that is similar to mine in terms of upgrades, yet larger at 2400sq ft is listing for 375k. given the way things are going, it would not suprise me if my house hits the 200s. high 200s or low 200s… we’ll wait and see.

I’m really not as worried about it as I thought I would be. I really do like my house. I have a fixed rate mortgage with a good rate. So my “losses” are on paper.

I do know that I have kids, I have a stable place to live, and we like our neighborhood/community. I also enjoy being able to fix up/change things, which I could not do if I was renting..or I guess I could, but you wouldn’t do it. For example, since buying I have made modest improvements (cheap, but my own labor/time) that I like, and would not have done to a rental. I’ve installed storage systems in my garage, epoxy coated my floors, upgraded landscaping, am going to do closet organizers… stuff that impacts my day to day enjoyment of the house – and makes my life easier.

you can all make fun of me, say I told you so, or whatever. I’m not really upset. I bought this house as a place to live and raise my kids, not as an investment, or to flip.

I think my only regret will be that in 6-12 months, if the $hit really hits the fan and houses are selling at 250k… then i’ll think that for the same $$ I could have bought a bigger/better house… or simply could have bought my house at a more reasonable price, and put the $$/difference into a better invesement…

i always look on the bright side. i have a good job, which is stable, and somewhat insulated from the economic problems. I know people who have been laid off, and are losing their home, and that’s sad. So, it would be nice if I was renting, and thining I saved money, but things could always be a lot lot worse too.

I went in 100%, so while I may have “lost” money, it’s all on paper. If I were to walk way, I’m not going to lose any money. Not that I’m going to do that, but I guess, in a way, if the market just went down the drain completely, and my $350k house suddenly is worth $100k and rents are at $1000/month. there comes a point where you would feel just plain stupid to keep paying hte mortgage because the values have gone SO LOW that to not just walk away and take advantage of lower rents/etc would be stupidity…the hit to your credit/reputation/price/whatever would be outweighed by the tremendous money you would ave.

where is that point? I don’t know. Right now, even if you say I’m $50k upside down… I’m not thinking “oh no, I need to walk away from my house…” I like it, and plan to be here for the long run.

if in a year and a half, we’ve gone through a mega recession, there is massive unemployment, houses are a dime a dozen, and my house is worth 100k, and I could rent it for $750/month… then maybe you start thinking that you walk…

when/what is that point at which the value/upside down “ratio” or whatever you want to call it is SO serious that it’s actually stupid to stay and pay? I don’t know.

🙂

[Anonymous]

23109VC, I’m kind of in the same boat I am looking at the quality of the neighborhood, people, schools, etc. Somewhere I can stick around for 20+ years hopefully. Whether I can squeeze another 50-100K out of the market is a secondary priority. If you like your house and neighborhood and are comfortable with your payment, isn’t that the bottom line?

bearvine, I’m assembling some links to run by you and the other Temecula experts, thanks!

[Anonymous]

23109VC, I’m kind of in the same boat I am looking at the quality of the neighborhood, people, schools, etc. Somewhere I can stick around for 20+ years hopefully. Whether I can squeeze another 50-100K out of the market is a secondary priority. If you like your house and neighborhood and are comfortable with your payment, isn’t that the bottom line?

bearvine, I’m assembling some links to run by you and the other Temecula experts, thanks!

[Anonymous]

23109VC, I’m kind of in the same boat I am looking at the quality of the neighborhood, people, schools, etc. Somewhere I can stick around for 20+ years hopefully. Whether I can squeeze another 50-100K out of the market is a secondary priority. If you like your house and neighborhood and are comfortable with your payment, isn’t that the bottom line?

bearvine, I’m assembling some links to run by you and the other Temecula experts, thanks!

[Anonymous]

23109VC, I’m kind of in the same boat I am looking at the quality of the neighborhood, people, schools, etc. Somewhere I can stick around for 20+ years hopefully. Whether I can squeeze another 50-100K out of the market is a secondary priority. If you like your house and neighborhood and are comfortable with your payment, isn’t that the bottom line?

bearvine, I’m assembling some links to run by you and the other Temecula experts, thanks!

[Anonymous]

23109VC, I’m kind of in the same boat I am looking at the quality of the neighborhood, people, schools, etc. Somewhere I can stick around for 20+ years hopefully. Whether I can squeeze another 50-100K out of the market is a secondary priority. If you like your house and neighborhood and are comfortable with your payment, isn’t that the bottom line?

bearvine, I’m assembling some links to run by you and the other Temecula experts, thanks!

[paramount]

23109: I’m not sure where that point is, but I don’t think you’ll have to worry about it.

I would say a good percentage of Piggy’s go overboard in terms of how “low” it will go b/c most have a vested interest in a severe crash, and are thus biased.

[paramount]

23109: I’m not sure where that point is, but I don’t think you’ll have to worry about it.

I would say a good percentage of Piggy’s go overboard in terms of how “low” it will go b/c most have a vested interest in a severe crash, and are thus biased.

[paramount]

23109: I’m not sure where that point is, but I don’t think you’ll have to worry about it.

I would say a good percentage of Piggy’s go overboard in terms of how “low” it will go b/c most have a vested interest in a severe crash, and are thus biased.

[paramount]

23109: I’m not sure where that point is, but I don’t think you’ll have to worry about it.

I would say a good percentage of Piggy’s go overboard in terms of how “low” it will go b/c most have a vested interest in a severe crash, and are thus biased.

[Author]

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