What do you all know about Fallbrook?

[Allan from Fallbrook]

There are definitely “townie” hangouts in Fallbrook. Farmhouse Coffee, Cafe Bravo and the Bistro at Jackson Square (which you referenced).

There are some deals, but few and far between. Overall, I think people here are like people throughout San Diego county when it comes to overvaluing their home. The general consensus is that, while there is a downturn going on, things will turn around in ’08 and this will be behind us.

I would strongly advocate waiting at least a year, if not longer (18 to 24 months).

I have family in Wisconsin, Michigan, Minnesota and Illinois, and that is what appealed to me about Fallbrook. Growing up in a small town has certain advantages. And, truth be told, certain disadvantages.

[Bugs]

If commuting time is not an issue then Fallbrook might be a good deal for you. It definitely does have more of the small town situation going on. I don’t know about the 10 degrees cooler theory, though. During the summer Fallbrook seems (to me) to get just as hot as Temecula and Escondido. Temecula seems to cool down quite nicely during the evenings.

[Bugs]

If commuting time is not an issue then Fallbrook might be a good deal for you. It definitely does have more of the small town situation going on. I don’t know about the 10 degrees cooler theory, though. During the summer Fallbrook seems (to me) to get just as hot as Temecula and Escondido. Temecula seems to cool down quite nicely during the evenings.

[Bugs]

If commuting time is not an issue then Fallbrook might be a good deal for you. It definitely does have more of the small town situation going on. I don’t know about the 10 degrees cooler theory, though. During the summer Fallbrook seems (to me) to get just as hot as Temecula and Escondido. Temecula seems to cool down quite nicely during the evenings.

[Bugs]

If commuting time is not an issue then Fallbrook might be a good deal for you. It definitely does have more of the small town situation going on. I don’t know about the 10 degrees cooler theory, though. During the summer Fallbrook seems (to me) to get just as hot as Temecula and Escondido. Temecula seems to cool down quite nicely during the evenings.

[Bugs]

If commuting time is not an issue then Fallbrook might be a good deal for you. It definitely does have more of the small town situation going on. I don’t know about the 10 degrees cooler theory, though. During the summer Fallbrook seems (to me) to get just as hot as Temecula and Escondido. Temecula seems to cool down quite nicely during the evenings.

[Bunny Meadows]

The overvaluing thing just amazes me. I’m not a savvy economist, but wasnt the “boom” related to the easy access to moolah? With credit/lending standards tightening up, the number of foreclosures, short sales, and the general state of the economy, I cant see how a seller could expect someone to pay $700,000 for a crappy little “fixer” in Fallbrook.

I saw a house online in Oceanside (Ocean Hills,close to Vista)that was listed at $699K. Yes, it was bordering a nature preserve (in the back of the house), but the house itself was about 1700 sf and not updated. I think the seller is living in la-la land. He had commented to someone on a forum that he would NEVER sell his place for under $600K.

But, maybe I’m wrong…

[Bunny Meadows]

The overvaluing thing just amazes me. I’m not a savvy economist, but wasnt the “boom” related to the easy access to moolah? With credit/lending standards tightening up, the number of foreclosures, short sales, and the general state of the economy, I cant see how a seller could expect someone to pay $700,000 for a crappy little “fixer” in Fallbrook.

I saw a house online in Oceanside (Ocean Hills,close to Vista)that was listed at $699K. Yes, it was bordering a nature preserve (in the back of the house), but the house itself was about 1700 sf and not updated. I think the seller is living in la-la land. He had commented to someone on a forum that he would NEVER sell his place for under $600K.

But, maybe I’m wrong…

[Bunny Meadows]

The overvaluing thing just amazes me. I’m not a savvy economist, but wasnt the “boom” related to the easy access to moolah? With credit/lending standards tightening up, the number of foreclosures, short sales, and the general state of the economy, I cant see how a seller could expect someone to pay $700,000 for a crappy little “fixer” in Fallbrook.

I saw a house online in Oceanside (Ocean Hills,close to Vista)that was listed at $699K. Yes, it was bordering a nature preserve (in the back of the house), but the house itself was about 1700 sf and not updated. I think the seller is living in la-la land. He had commented to someone on a forum that he would NEVER sell his place for under $600K.

But, maybe I’m wrong…

[Bunny Meadows]

The overvaluing thing just amazes me. I’m not a savvy economist, but wasnt the “boom” related to the easy access to moolah? With credit/lending standards tightening up, the number of foreclosures, short sales, and the general state of the economy, I cant see how a seller could expect someone to pay $700,000 for a crappy little “fixer” in Fallbrook.

I saw a house online in Oceanside (Ocean Hills,close to Vista)that was listed at $699K. Yes, it was bordering a nature preserve (in the back of the house), but the house itself was about 1700 sf and not updated. I think the seller is living in la-la land. He had commented to someone on a forum that he would NEVER sell his place for under $600K.

But, maybe I’m wrong…

[Bunny Meadows]

The overvaluing thing just amazes me. I’m not a savvy economist, but wasnt the “boom” related to the easy access to moolah? With credit/lending standards tightening up, the number of foreclosures, short sales, and the general state of the economy, I cant see how a seller could expect someone to pay $700,000 for a crappy little “fixer” in Fallbrook.

I saw a house online in Oceanside (Ocean Hills,close to Vista)that was listed at $699K. Yes, it was bordering a nature preserve (in the back of the house), but the house itself was about 1700 sf and not updated. I think the seller is living in la-la land. He had commented to someone on a forum that he would NEVER sell his place for under $600K.

But, maybe I’m wrong…

[Allan from Fallbrook]

Bunny: We bought our place in 2003 for $425k. It is 3,300sf on 1.2ac. I mention this because there are a significant number of owners in Fallbrook that are like me: They purchased early in, or prior to, the boom and are sitting on a decent hunk of equity. Selling therefore doesn’t become such a pressing proposition as it would for someone who is upside down and saddled with a bad mortgage. This is just opinion, so please treat it accordingly, but I think there are more people in Temecula and Murrieta in this fix than in Fallbrook. Again, sheer guesswork, but that feels right.

That being said, I do know there are people here that are in trouble, and that the situation is getting worse. Quite a few of the properties that are for sale are dropping their prices, and “Bank Owned” sign toppers are becoming more prevalent. As I mentioned earlier, you’re not going to hurt yourself by waiting.

During the boom, our place went as high as $800k, before settling back down into the $600s. There are people out there that are really treating the bust as nothing more than a blip, and they absolutely refuse to listen to reason. Until cold, hard reality gives them a sharp one upside the head, they’ll keep believing a turnaround is right around the corner.

[Allan from Fallbrook]

Bunny: We bought our place in 2003 for $425k. It is 3,300sf on 1.2ac. I mention this because there are a significant number of owners in Fallbrook that are like me: They purchased early in, or prior to, the boom and are sitting on a decent hunk of equity. Selling therefore doesn’t become such a pressing proposition as it would for someone who is upside down and saddled with a bad mortgage. This is just opinion, so please treat it accordingly, but I think there are more people in Temecula and Murrieta in this fix than in Fallbrook. Again, sheer guesswork, but that feels right.

That being said, I do know there are people here that are in trouble, and that the situation is getting worse. Quite a few of the properties that are for sale are dropping their prices, and “Bank Owned” sign toppers are becoming more prevalent. As I mentioned earlier, you’re not going to hurt yourself by waiting.

During the boom, our place went as high as $800k, before settling back down into the $600s. There are people out there that are really treating the bust as nothing more than a blip, and they absolutely refuse to listen to reason. Until cold, hard reality gives them a sharp one upside the head, they’ll keep believing a turnaround is right around the corner.

[Allan from Fallbrook]

Bunny: We bought our place in 2003 for $425k. It is 3,300sf on 1.2ac. I mention this because there are a significant number of owners in Fallbrook that are like me: They purchased early in, or prior to, the boom and are sitting on a decent hunk of equity. Selling therefore doesn’t become such a pressing proposition as it would for someone who is upside down and saddled with a bad mortgage. This is just opinion, so please treat it accordingly, but I think there are more people in Temecula and Murrieta in this fix than in Fallbrook. Again, sheer guesswork, but that feels right.

That being said, I do know there are people here that are in trouble, and that the situation is getting worse. Quite a few of the properties that are for sale are dropping their prices, and “Bank Owned” sign toppers are becoming more prevalent. As I mentioned earlier, you’re not going to hurt yourself by waiting.

During the boom, our place went as high as $800k, before settling back down into the $600s. There are people out there that are really treating the bust as nothing more than a blip, and they absolutely refuse to listen to reason. Until cold, hard reality gives them a sharp one upside the head, they’ll keep believing a turnaround is right around the corner.

[Allan from Fallbrook]

Bunny: We bought our place in 2003 for $425k. It is 3,300sf on 1.2ac. I mention this because there are a significant number of owners in Fallbrook that are like me: They purchased early in, or prior to, the boom and are sitting on a decent hunk of equity. Selling therefore doesn’t become such a pressing proposition as it would for someone who is upside down and saddled with a bad mortgage. This is just opinion, so please treat it accordingly, but I think there are more people in Temecula and Murrieta in this fix than in Fallbrook. Again, sheer guesswork, but that feels right.

That being said, I do know there are people here that are in trouble, and that the situation is getting worse. Quite a few of the properties that are for sale are dropping their prices, and “Bank Owned” sign toppers are becoming more prevalent. As I mentioned earlier, you’re not going to hurt yourself by waiting.

During the boom, our place went as high as $800k, before settling back down into the $600s. There are people out there that are really treating the bust as nothing more than a blip, and they absolutely refuse to listen to reason. Until cold, hard reality gives them a sharp one upside the head, they’ll keep believing a turnaround is right around the corner.

[Author]

Posts