[23109VC]

I woudlnt’ want to do that commute. i have done the long commute and it SUCKS. i’d rather live in a nice condo close to work, and have NO commtue time, and MORE time with my family instead of the mcmansion and a 3 hour daily commute.

life is short. i don’t want to spend it all in my car. maybe time in a sports car at track day… but not on I-15…. 🙂

i do think, however, that the world is full of people who think they have to “have it all” – meaning a 3000+ sq ft home, a HUmmer, a rolex, and always a starbucks cup in their hand – and if they don’t have those things they arne’ happy. they want the “american dream” and they want it ALL right NOW. so to get it – they come to temecula. 🙂

[23109VC]

I woudlnt’ want to do that commute. i have done the long commute and it SUCKS. i’d rather live in a nice condo close to work, and have NO commtue time, and MORE time with my family instead of the mcmansion and a 3 hour daily commute.

life is short. i don’t want to spend it all in my car. maybe time in a sports car at track day… but not on I-15…. 🙂

i do think, however, that the world is full of people who think they have to “have it all” – meaning a 3000+ sq ft home, a HUmmer, a rolex, and always a starbucks cup in their hand – and if they don’t have those things they arne’ happy. they want the “american dream” and they want it ALL right NOW. so to get it – they come to temecula. 🙂

[23109VC]

they only get paid if they close loans.. almost all these people are commission based.

it’s like when you go to the used car lot… and they want to sell you a car you dont neet, options you don’t neet, extras you dont need…

it’s sad – but the reality is the world is FULL of “professionals” who will walk you down a path to self destruction – smiling the whole way, telling you what a great move your making….

i have talked to many brokers/lenders/etc who I KNEW were trying to screw me. I’ve talked to car dealers who I KNEW were lying to me and trying to screw me.

it just goes to show you that there are a LOT of people out there who are ignorant… who are the perfect victims for these kind of scum

[23109VC]

they only get paid if they close loans.. almost all these people are commission based.

it’s like when you go to the used car lot… and they want to sell you a car you dont neet, options you don’t neet, extras you dont need…

it’s sad – but the reality is the world is FULL of “professionals” who will walk you down a path to self destruction – smiling the whole way, telling you what a great move your making….

i have talked to many brokers/lenders/etc who I KNEW were trying to screw me. I’ve talked to car dealers who I KNEW were lying to me and trying to screw me.

it just goes to show you that there are a LOT of people out there who are ignorant… who are the perfect victims for these kind of scum

[23109VC]

that’s not going to happen. NO WAY will those 800k houses be selling for 200k. sorry.

do you live or work in temecula? i get the impression that some piggingtonions think that Temecula is some bastard stepchild of San Diego. a lot of commuters live up here… but temecula is not the same as it was 10 years ago..not even 5 years ago.. thre are a lot of people living here who work locally, or very close by.

i dont’ think you’ll see 50% of temecula leave just b/c gas prices go up and SD is a bit cheaper. every drop in prices in SD will have a corresponding drop in temecula… and temecula will probably always be cheaper than SD.

ten years ago I knew people moving AWAY from San Diego to temecua – to get more bang for their buck. there will always be people who want a bigger house, a bigger yard, etc and will commute to get it.

they can spend 400-500k and have a house that costs them 750-800 in SD…. and if that house falls to 400-500 in SD it will be 300-400 in Temecula..or less…

bottom line – you get more for your money in Temecula. and ther ewill always be peple willing to commute to get it. they were doing it a decade ago when temecula first started growing. it only accelerated b/c san diego got SO expensvie that a lot of people were unable to buy at all in SD…. some of those people may move back…but nto all of them.

i see prices falling across the board…but i don’t see the bottom faling out overnight.

things will slow down. prices will continue to drop and sag bit by bit. builders will keep lowering prices, or upping incentives. if rates stay low enough, people will still be able to pay the high prices…and the builders will tease with more upgrades, more bling….heck, maybe they’ll start adding pools… who knows..

i still think if you look at where prices were before the massive takeoff took place..and then you trend upward at 2-3%/year… you wind up at where prices should stabilize at.

to say an 800k hosue will sell fro 200k is nonsense. have youb een inside of an 800k house in Tem or Murrieta? 800k is going to get you a 4000 sq ft home nestled high up on the hill in GReer Ranch with spectacular views of the city below, gated community, community pool/spa, and every conceivable upgrade in your house… it probably cost more than $200k to build…. and if you listed it for $200k you’d have people lining up to buy it at that price…

incomes aren’t going down. the prices are coming down b/c the massive inflation of home prices has stopped..so the investors are leaving, and the flippers are leaving, and the demand is dropping. financing tightened up and the pool of buyers has shrunk. so less people buying, less peple who CAN buy..and more inventory..so prices go down.

but they won’t go down to zero. you think people will just give houses away??? free houses!! just pick up the keys!!

houss in temecula were selling in the high 100s and low 200s before the bubble hit..and if you look at a lot of those houses..they were small, unfixed up. starter type homes. they werne’t the mcmansions with pools, granite, extensive flooring, etc… as temecula got more “acceptable” as a place to live, you saw more houses go in that were already “fixed up” and priced higher… that trend just kept increasing utnil you had the mcmansions going in all over…

i still think that the average house in temecula – gives you way more bang for your buck than SD. you will be commuting if you work in SD..but not everyone in Temecula commutes.

i work locally. my next door neighbor works in north county san diego and has a minimal commute. my other next door neighbors both work locally – both in the health care industry..another neighbor is in local law enforcement… i’m sure some commute…but to say EVERONE in temecula is no the freeway half the day is wrong.

temecula is by NO MEANS a self sufficient city with a vibrant economy…it is a giant suburb of SD…but i don’t think you can say that it’s goign to fall apart b/c gas prices go up and SD prices drop…

[23109VC]

that’s not going to happen. NO WAY will those 800k houses be selling for 200k. sorry.

do you live or work in temecula? i get the impression that some piggingtonions think that Temecula is some bastard stepchild of San Diego. a lot of commuters live up here… but temecula is not the same as it was 10 years ago..not even 5 years ago.. thre are a lot of people living here who work locally, or very close by.

i dont’ think you’ll see 50% of temecula leave just b/c gas prices go up and SD is a bit cheaper. every drop in prices in SD will have a corresponding drop in temecula… and temecula will probably always be cheaper than SD.

ten years ago I knew people moving AWAY from San Diego to temecua – to get more bang for their buck. there will always be people who want a bigger house, a bigger yard, etc and will commute to get it.

they can spend 400-500k and have a house that costs them 750-800 in SD…. and if that house falls to 400-500 in SD it will be 300-400 in Temecula..or less…

bottom line – you get more for your money in Temecula. and ther ewill always be peple willing to commute to get it. they were doing it a decade ago when temecula first started growing. it only accelerated b/c san diego got SO expensvie that a lot of people were unable to buy at all in SD…. some of those people may move back…but nto all of them.

i see prices falling across the board…but i don’t see the bottom faling out overnight.

things will slow down. prices will continue to drop and sag bit by bit. builders will keep lowering prices, or upping incentives. if rates stay low enough, people will still be able to pay the high prices…and the builders will tease with more upgrades, more bling….heck, maybe they’ll start adding pools… who knows..

i still think if you look at where prices were before the massive takeoff took place..and then you trend upward at 2-3%/year… you wind up at where prices should stabilize at.

to say an 800k hosue will sell fro 200k is nonsense. have youb een inside of an 800k house in Tem or Murrieta? 800k is going to get you a 4000 sq ft home nestled high up on the hill in GReer Ranch with spectacular views of the city below, gated community, community pool/spa, and every conceivable upgrade in your house… it probably cost more than $200k to build…. and if you listed it for $200k you’d have people lining up to buy it at that price…

incomes aren’t going down. the prices are coming down b/c the massive inflation of home prices has stopped..so the investors are leaving, and the flippers are leaving, and the demand is dropping. financing tightened up and the pool of buyers has shrunk. so less people buying, less peple who CAN buy..and more inventory..so prices go down.

but they won’t go down to zero. you think people will just give houses away??? free houses!! just pick up the keys!!

houss in temecula were selling in the high 100s and low 200s before the bubble hit..and if you look at a lot of those houses..they were small, unfixed up. starter type homes. they werne’t the mcmansions with pools, granite, extensive flooring, etc… as temecula got more “acceptable” as a place to live, you saw more houses go in that were already “fixed up” and priced higher… that trend just kept increasing utnil you had the mcmansions going in all over…

i still think that the average house in temecula – gives you way more bang for your buck than SD. you will be commuting if you work in SD..but not everyone in Temecula commutes.

i work locally. my next door neighbor works in north county san diego and has a minimal commute. my other next door neighbors both work locally – both in the health care industry..another neighbor is in local law enforcement… i’m sure some commute…but to say EVERONE in temecula is no the freeway half the day is wrong.

temecula is by NO MEANS a self sufficient city with a vibrant economy…it is a giant suburb of SD…but i don’t think you can say that it’s goign to fall apart b/c gas prices go up and SD prices drop…

[23109VC]

you think that we will see 2003 prices…or less? in temecula?

i get confused. some people here say 50% off peak…is that 2003 pricing?

[23109VC]

you think that we will see 2003 prices…or less? in temecula?

i get confused. some people here say 50% off peak…is that 2003 pricing?

[23109VC]

i thought the norm was to appreciate 3-4% / year…

isn’t that about what inflation is really at?

another question I have – when you guys say 50% off peak – do you mean actual dollars or inflation adjusted dollars?

so say the houses peak was $500k… and it sold to someone for THAT price – $500k.

you think it will ultimately sell for $250k…or it will sell for more than that since you adjust for inflation over the past several years…

???

[23109VC]

i thought the norm was to appreciate 3-4% / year…

isn’t that about what inflation is really at?

another question I have – when you guys say 50% off peak – do you mean actual dollars or inflation adjusted dollars?

so say the houses peak was $500k… and it sold to someone for THAT price – $500k.

you think it will ultimately sell for $250k…or it will sell for more than that since you adjust for inflation over the past several years…

???

[23109VC]

is this bet of 50% of “peak” meaning a house that sells for 50% less than a peak ASK price…or a confirmed 50% off SOLD Price..

there were a lot of peak ask prices that were crazy high…

do you mean you’ll find a house that SOLD for $800k in 2004, that then SOLD for $400k…

I would LOVE for them to come down this much, but don’t see it happening in 4 months… not even 12..

the 800k houses up here are LOADED with options, pools, etc. they aren’t the SAME houses you have down in SD that are 800k… if you take an 800k house in Temecula and picked it up, moved it, and dropped it into Carmel Valley ro Scripps it would be well over a million dollars..

there are people who WANT that…and will drive from Temecual to San Diego – for work – so they can HAVE that mcmansion.

check THIS place out

http://www.renaissanceestates.com/

these homes are selling in the 1.5 million range. if these were in San Diego they would probably be 2-3 milliion… they are truly MANSIONS….. i have been up the hill and driven around the look at them…for fun only… and they are amazing. from some of the lots you have city lights views out one window, and you can see the ocean from the other…breathtaking…

basically…you get more for your money.

the house i am renting is only 1900 sq ft…but it sold in 2005 for $450k. if it was in san diego it would easily be 750k. i visited my borther in law who had a smaller, crummier house in a crummier area and his house sold at about 650….

i agree prices are out of whack… but i dont’ think temecula is MORE overpriced than SD. overall thep rices are lower…but you get more for the money.

you guys really think that the 800k house will be 400k?

and do you think the $400k house will fall all the way to $200k?

do you think teh drop in price is proportional even at different price points?

[23109VC]

is this bet of 50% of “peak” meaning a house that sells for 50% less than a peak ASK price…or a confirmed 50% off SOLD Price..

there were a lot of peak ask prices that were crazy high…

do you mean you’ll find a house that SOLD for $800k in 2004, that then SOLD for $400k…

I would LOVE for them to come down this much, but don’t see it happening in 4 months… not even 12..

the 800k houses up here are LOADED with options, pools, etc. they aren’t the SAME houses you have down in SD that are 800k… if you take an 800k house in Temecula and picked it up, moved it, and dropped it into Carmel Valley ro Scripps it would be well over a million dollars..

there are people who WANT that…and will drive from Temecual to San Diego – for work – so they can HAVE that mcmansion.

check THIS place out

http://www.renaissanceestates.com/

these homes are selling in the 1.5 million range. if these were in San Diego they would probably be 2-3 milliion… they are truly MANSIONS….. i have been up the hill and driven around the look at them…for fun only… and they are amazing. from some of the lots you have city lights views out one window, and you can see the ocean from the other…breathtaking…

basically…you get more for your money.

the house i am renting is only 1900 sq ft…but it sold in 2005 for $450k. if it was in san diego it would easily be 750k. i visited my borther in law who had a smaller, crummier house in a crummier area and his house sold at about 650….

i agree prices are out of whack… but i dont’ think temecula is MORE overpriced than SD. overall thep rices are lower…but you get more for the money.

you guys really think that the 800k house will be 400k?

and do you think the $400k house will fall all the way to $200k?

do you think teh drop in price is proportional even at different price points?

[23109VC]

these people are idiots. they are not victims.

one of the people at the “rally” bought EIGHT houses as an “investment”…. had $40,000 in mortage costs MONTHLY….on a nurse and medical tech salary… give me a break.

i maybe can see how someone would invest with a company and not realize it was a scam – but how do you get conned into believing YOU can AFFORD EIGHT houses…and not think that something is horribly wrong??

was the investment company buying the houses? I am under the impression these “Investors” were told to BUY the houses themselves… so they had EIGHT houses under their names, under their credit, etc…only way you can do that is via fraud… on that income level…

[23109VC]

these people are idiots. they are not victims.

one of the people at the “rally” bought EIGHT houses as an “investment”…. had $40,000 in mortage costs MONTHLY….on a nurse and medical tech salary… give me a break.

i maybe can see how someone would invest with a company and not realize it was a scam – but how do you get conned into believing YOU can AFFORD EIGHT houses…and not think that something is horribly wrong??

was the investment company buying the houses? I am under the impression these “Investors” were told to BUY the houses themselves… so they had EIGHT houses under their names, under their credit, etc…only way you can do that is via fraud… on that income level…

[23109VC]

the house i saw with NO window coverings was in french valley, with NO view of anything except his next door and rear neighbors windows.

so while he or his wife are wakling in/around their bathroom, or changing clothes, or heck… while the owner is getting it on with his wife – the neighbors could see it in all its glory…. no thanks.

i agree..if you have a view lot.. on a hill…no rear neighbors… and you looked off to the sunset/city lights/beach/etc – no blinds is not an issue. this house was the kidn where you NEEDED them.

apparently he needed an EVO, 4 quads, and a motorcycle more than privacy… which i find typical of french valley. i also notice a lot of peole doing bbqs in their driveway – because their backyard is still a sandbox….. classy!

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