[bearvine]

Nice day in Temecula…Haven’t been on Piggington in a bit, and thought I’d check it out after spending a nice day in Temecula. Before I become bearish about the area, I will start by saying that we had a nice breakfast at South Coast Winery with some decent vino, played Cross Creek (this course was supposed to be the centerpiece of a housing development on the De Luz side that got squashed, and now remains a gem of a golf course undiscovered by most) and then hit the high limit at Pechanga. Again, there are not many places you can do this, and it is a great benefit of living there. Which I do miss to a degree.

Didn’t have time to visit McMillin in Morgan Hill, or Gallery. No need to get their hopes up that we might buy some homes as “investors” which we’ve been pitched to do by EVERY builder in the area for the last year.

Changing the name of Hwy 79 to Temecula Parkway was a nice touch, and more places to go on 79 is nice, and good to see the mall expanding.

Still convinced there is gonna be a big hurt coming. I’ll stand by a previous post, $75 sq ft in Morgan Hill, it can get there. 10% drop for 2008 is conservative and misguided. 20% you can count on. As beautiful as Temecula is, it is just to far away, was too reliant on the RE industry as a whole, and the trickle down effect will hit it hard. No need to get into all of this again though, this area has been covered in previous threads, and if you don’t see it you never will until it is to late.

So let’s talk about the higher end areas a bit.
Many of the wealthy in the area who profited on the RE area over the years are obviously quite concerned. We’ve had friends in the area ask us if we would come in and start speculating again. Nope, not yet. All the higher end plans have gone stagnant, and yes the higher end areas will get hit. The higher end areas were reliant on SD, LA, and OC relocates moving into the area, you can’t sell anywhere now, so no more buyers. How does the saying go, the bigger they are, the harder they fall.

For a rundown of such areas from North to South:

Canyon Lake:
Older parts in the gated area have always kept the best properties down, but they still went crazy with the bubble. Even though waterfront is cool, Lake Elsinore as a whole is dragging it down to the depths.

La Cresta (Murietta):
5 acre lots, horse properties, a bit far for many, but a nice area. This area took off with the bubble as OC, SD, and LA folks were able to sell their 2500 sq ft for a mill, and get a 4000sq ft on 5 acres for that same mill. In 2001 we bought a 5 acre lot for 400k and sold for 500k in a matter of months. This area has been struggling with sales for some time, and yes it will drop significantly. That same 5 acre lot and house that sold for a mill in 01, might’ve sold for 2 and a change at peak, and in the late 90’s could’ve been had for 600k tops. Lot’s of room to fall.

Bear Creek:
Love this area. Was a $100,000 away from living there. I know they wished they sold it to me now. Gated with the only private course and country club in the area, this is where many of the elite and power brokers of the area live. Room to fall? oh yeah. On the east side of Bear Creek, a developer went bad years ago, and those half completed homes still sit there, for years now in the same state, right next to the people that did move in. A Resale in that part can be had cheap as it is the least desirable area within Bear Creek. You have townhomes in the area that sold for 400k in 00 and 01, that were resold at a mill during peak, and some misguided sellers still asf 8-900 for. They are about 3000 sq ft and are nice. There are also smaller condos, and then there are the semi customs and customs.

Meadoview:
Not quite as nice as the above, but it does have some nice homes, is in the middle of Temecula, wide variety to choose from. This area was built up in the 80’s and 90’s when Temecula was dirt roads, so you can imagine what the original costs were, and why this area has so much room for depreciation. Beware the need to replace your septic tank in this area, that has been an issue for a number of people there. About a year ago, we went and lowballed about a dozen homes, all said no way, and everyone would sell today at 10-20% less than I offered.

Area between Meadoview and Nicholas (can’t remember the name of it for the life of me):
Was supposed to be semi custom on 1 acre lots. DEAD.

Wine Country:
This is a big area, and is a matter of lifestyle, what you are looking for etc. Rancon was going to build the area of all areas near the entrance of WC, to coincide with 3 new wineries. As far as the wineries go, I believe that is full steam ahead, but have heard nothing of the res project. It is an ambitious plan, and this was my target for permanent residence. If the same plan is in place, I would look forward to still doing it now at a better price. But they may not have enough buyers regardless. The farther out you go, the older the home, the farther the prices will drop. Not to mention all the spec builders stuck with inventory, they may be happy with 50 cents on the dollar.

DeLuz/Rennaisance Estates
They would love to sell to you. Some homes here are super cool as on a clear day you can see the Pacific to one side, and Temecula to the other. Hard to get to.

Rancho Santiago/Santiago Estates:
Right in town, some nice places. Older the home, farther it will drop. Beware bad septic, and stay away from anything near the proposed hospital. Those properties are already on the cheap, and they’ve been trying to sell for a couple of years with no shot. Coincidentally, these residents (NIMBY) are one reason why the hospital hasn’t broken ground.

That’s something that hasn’t been touched as a pro con, is the inadequate hospital facilities in the area. That hospital on 79 is needed in the worst way, but thanks to politics don’t hold your breath for the opening.

On that note, of all these areas one has to think about emergency services. If you have a heart attack in Bear Creek, Meadowview, Rancho Santiago, chances are you’ll be ok. De Luz, Wine Country outskirts, La Cresta, it might take awhile for the ambulance to get there.

In regards to the higher education center which would’ve been a coup for Temecula that was to be built towards Zevo, that’s quashed and is a dead project.

I still think it’s a great area, but if you want to be safe buying, pay no more that 2001 prices. And I still think there is room to fall from there.

The global economy and recession will be worse than you think. The farther away from an economic center, the worse it will be.

[bearvine]

Nice day in Temecula…Haven’t been on Piggington in a bit, and thought I’d check it out after spending a nice day in Temecula. Before I become bearish about the area, I will start by saying that we had a nice breakfast at South Coast Winery with some decent vino, played Cross Creek (this course was supposed to be the centerpiece of a housing development on the De Luz side that got squashed, and now remains a gem of a golf course undiscovered by most) and then hit the high limit at Pechanga. Again, there are not many places you can do this, and it is a great benefit of living there. Which I do miss to a degree.

Didn’t have time to visit McMillin in Morgan Hill, or Gallery. No need to get their hopes up that we might buy some homes as “investors” which we’ve been pitched to do by EVERY builder in the area for the last year.

Changing the name of Hwy 79 to Temecula Parkway was a nice touch, and more places to go on 79 is nice, and good to see the mall expanding.

Still convinced there is gonna be a big hurt coming. I’ll stand by a previous post, $75 sq ft in Morgan Hill, it can get there. 10% drop for 2008 is conservative and misguided. 20% you can count on. As beautiful as Temecula is, it is just to far away, was too reliant on the RE industry as a whole, and the trickle down effect will hit it hard. No need to get into all of this again though, this area has been covered in previous threads, and if you don’t see it you never will until it is to late.

So let’s talk about the higher end areas a bit.
Many of the wealthy in the area who profited on the RE area over the years are obviously quite concerned. We’ve had friends in the area ask us if we would come in and start speculating again. Nope, not yet. All the higher end plans have gone stagnant, and yes the higher end areas will get hit. The higher end areas were reliant on SD, LA, and OC relocates moving into the area, you can’t sell anywhere now, so no more buyers. How does the saying go, the bigger they are, the harder they fall.

For a rundown of such areas from North to South:

Canyon Lake:
Older parts in the gated area have always kept the best properties down, but they still went crazy with the bubble. Even though waterfront is cool, Lake Elsinore as a whole is dragging it down to the depths.

La Cresta (Murietta):
5 acre lots, horse properties, a bit far for many, but a nice area. This area took off with the bubble as OC, SD, and LA folks were able to sell their 2500 sq ft for a mill, and get a 4000sq ft on 5 acres for that same mill. In 2001 we bought a 5 acre lot for 400k and sold for 500k in a matter of months. This area has been struggling with sales for some time, and yes it will drop significantly. That same 5 acre lot and house that sold for a mill in 01, might’ve sold for 2 and a change at peak, and in the late 90’s could’ve been had for 600k tops. Lot’s of room to fall.

Bear Creek:
Love this area. Was a $100,000 away from living there. I know they wished they sold it to me now. Gated with the only private course and country club in the area, this is where many of the elite and power brokers of the area live. Room to fall? oh yeah. On the east side of Bear Creek, a developer went bad years ago, and those half completed homes still sit there, for years now in the same state, right next to the people that did move in. A Resale in that part can be had cheap as it is the least desirable area within Bear Creek. You have townhomes in the area that sold for 400k in 00 and 01, that were resold at a mill during peak, and some misguided sellers still asf 8-900 for. They are about 3000 sq ft and are nice. There are also smaller condos, and then there are the semi customs and customs.

Meadoview:
Not quite as nice as the above, but it does have some nice homes, is in the middle of Temecula, wide variety to choose from. This area was built up in the 80’s and 90’s when Temecula was dirt roads, so you can imagine what the original costs were, and why this area has so much room for depreciation. Beware the need to replace your septic tank in this area, that has been an issue for a number of people there. About a year ago, we went and lowballed about a dozen homes, all said no way, and everyone would sell today at 10-20% less than I offered.

Area between Meadoview and Nicholas (can’t remember the name of it for the life of me):
Was supposed to be semi custom on 1 acre lots. DEAD.

Wine Country:
This is a big area, and is a matter of lifestyle, what you are looking for etc. Rancon was going to build the area of all areas near the entrance of WC, to coincide with 3 new wineries. As far as the wineries go, I believe that is full steam ahead, but have heard nothing of the res project. It is an ambitious plan, and this was my target for permanent residence. If the same plan is in place, I would look forward to still doing it now at a better price. But they may not have enough buyers regardless. The farther out you go, the older the home, the farther the prices will drop. Not to mention all the spec builders stuck with inventory, they may be happy with 50 cents on the dollar.

DeLuz/Rennaisance Estates
They would love to sell to you. Some homes here are super cool as on a clear day you can see the Pacific to one side, and Temecula to the other. Hard to get to.

Rancho Santiago/Santiago Estates:
Right in town, some nice places. Older the home, farther it will drop. Beware bad septic, and stay away from anything near the proposed hospital. Those properties are already on the cheap, and they’ve been trying to sell for a couple of years with no shot. Coincidentally, these residents (NIMBY) are one reason why the hospital hasn’t broken ground.

That’s something that hasn’t been touched as a pro con, is the inadequate hospital facilities in the area. That hospital on 79 is needed in the worst way, but thanks to politics don’t hold your breath for the opening.

On that note, of all these areas one has to think about emergency services. If you have a heart attack in Bear Creek, Meadowview, Rancho Santiago, chances are you’ll be ok. De Luz, Wine Country outskirts, La Cresta, it might take awhile for the ambulance to get there.

In regards to the higher education center which would’ve been a coup for Temecula that was to be built towards Zevo, that’s quashed and is a dead project.

I still think it’s a great area, but if you want to be safe buying, pay no more that 2001 prices. And I still think there is room to fall from there.

The global economy and recession will be worse than you think. The farther away from an economic center, the worse it will be.

[bearvine]

Nice day in Temecula…Haven’t been on Piggington in a bit, and thought I’d check it out after spending a nice day in Temecula. Before I become bearish about the area, I will start by saying that we had a nice breakfast at South Coast Winery with some decent vino, played Cross Creek (this course was supposed to be the centerpiece of a housing development on the De Luz side that got squashed, and now remains a gem of a golf course undiscovered by most) and then hit the high limit at Pechanga. Again, there are not many places you can do this, and it is a great benefit of living there. Which I do miss to a degree.

Didn’t have time to visit McMillin in Morgan Hill, or Gallery. No need to get their hopes up that we might buy some homes as “investors” which we’ve been pitched to do by EVERY builder in the area for the last year.

Changing the name of Hwy 79 to Temecula Parkway was a nice touch, and more places to go on 79 is nice, and good to see the mall expanding.

Still convinced there is gonna be a big hurt coming. I’ll stand by a previous post, $75 sq ft in Morgan Hill, it can get there. 10% drop for 2008 is conservative and misguided. 20% you can count on. As beautiful as Temecula is, it is just to far away, was too reliant on the RE industry as a whole, and the trickle down effect will hit it hard. No need to get into all of this again though, this area has been covered in previous threads, and if you don’t see it you never will until it is to late.

So let’s talk about the higher end areas a bit.
Many of the wealthy in the area who profited on the RE area over the years are obviously quite concerned. We’ve had friends in the area ask us if we would come in and start speculating again. Nope, not yet. All the higher end plans have gone stagnant, and yes the higher end areas will get hit. The higher end areas were reliant on SD, LA, and OC relocates moving into the area, you can’t sell anywhere now, so no more buyers. How does the saying go, the bigger they are, the harder they fall.

For a rundown of such areas from North to South:

Canyon Lake:
Older parts in the gated area have always kept the best properties down, but they still went crazy with the bubble. Even though waterfront is cool, Lake Elsinore as a whole is dragging it down to the depths.

La Cresta (Murietta):
5 acre lots, horse properties, a bit far for many, but a nice area. This area took off with the bubble as OC, SD, and LA folks were able to sell their 2500 sq ft for a mill, and get a 4000sq ft on 5 acres for that same mill. In 2001 we bought a 5 acre lot for 400k and sold for 500k in a matter of months. This area has been struggling with sales for some time, and yes it will drop significantly. That same 5 acre lot and house that sold for a mill in 01, might’ve sold for 2 and a change at peak, and in the late 90’s could’ve been had for 600k tops. Lot’s of room to fall.

Bear Creek:
Love this area. Was a $100,000 away from living there. I know they wished they sold it to me now. Gated with the only private course and country club in the area, this is where many of the elite and power brokers of the area live. Room to fall? oh yeah. On the east side of Bear Creek, a developer went bad years ago, and those half completed homes still sit there, for years now in the same state, right next to the people that did move in. A Resale in that part can be had cheap as it is the least desirable area within Bear Creek. You have townhomes in the area that sold for 400k in 00 and 01, that were resold at a mill during peak, and some misguided sellers still asf 8-900 for. They are about 3000 sq ft and are nice. There are also smaller condos, and then there are the semi customs and customs.

Meadoview:
Not quite as nice as the above, but it does have some nice homes, is in the middle of Temecula, wide variety to choose from. This area was built up in the 80’s and 90’s when Temecula was dirt roads, so you can imagine what the original costs were, and why this area has so much room for depreciation. Beware the need to replace your septic tank in this area, that has been an issue for a number of people there. About a year ago, we went and lowballed about a dozen homes, all said no way, and everyone would sell today at 10-20% less than I offered.

Area between Meadoview and Nicholas (can’t remember the name of it for the life of me):
Was supposed to be semi custom on 1 acre lots. DEAD.

Wine Country:
This is a big area, and is a matter of lifestyle, what you are looking for etc. Rancon was going to build the area of all areas near the entrance of WC, to coincide with 3 new wineries. As far as the wineries go, I believe that is full steam ahead, but have heard nothing of the res project. It is an ambitious plan, and this was my target for permanent residence. If the same plan is in place, I would look forward to still doing it now at a better price. But they may not have enough buyers regardless. The farther out you go, the older the home, the farther the prices will drop. Not to mention all the spec builders stuck with inventory, they may be happy with 50 cents on the dollar.

DeLuz/Rennaisance Estates
They would love to sell to you. Some homes here are super cool as on a clear day you can see the Pacific to one side, and Temecula to the other. Hard to get to.

Rancho Santiago/Santiago Estates:
Right in town, some nice places. Older the home, farther it will drop. Beware bad septic, and stay away from anything near the proposed hospital. Those properties are already on the cheap, and they’ve been trying to sell for a couple of years with no shot. Coincidentally, these residents (NIMBY) are one reason why the hospital hasn’t broken ground.

That’s something that hasn’t been touched as a pro con, is the inadequate hospital facilities in the area. That hospital on 79 is needed in the worst way, but thanks to politics don’t hold your breath for the opening.

On that note, of all these areas one has to think about emergency services. If you have a heart attack in Bear Creek, Meadowview, Rancho Santiago, chances are you’ll be ok. De Luz, Wine Country outskirts, La Cresta, it might take awhile for the ambulance to get there.

In regards to the higher education center which would’ve been a coup for Temecula that was to be built towards Zevo, that’s quashed and is a dead project.

I still think it’s a great area, but if you want to be safe buying, pay no more that 2001 prices. And I still think there is room to fall from there.

The global economy and recession will be worse than you think. The farther away from an economic center, the worse it will be.

[bearvine]

Nice day in Temecula…Haven’t been on Piggington in a bit, and thought I’d check it out after spending a nice day in Temecula. Before I become bearish about the area, I will start by saying that we had a nice breakfast at South Coast Winery with some decent vino, played Cross Creek (this course was supposed to be the centerpiece of a housing development on the De Luz side that got squashed, and now remains a gem of a golf course undiscovered by most) and then hit the high limit at Pechanga. Again, there are not many places you can do this, and it is a great benefit of living there. Which I do miss to a degree.

Didn’t have time to visit McMillin in Morgan Hill, or Gallery. No need to get their hopes up that we might buy some homes as “investors” which we’ve been pitched to do by EVERY builder in the area for the last year.

Changing the name of Hwy 79 to Temecula Parkway was a nice touch, and more places to go on 79 is nice, and good to see the mall expanding.

Still convinced there is gonna be a big hurt coming. I’ll stand by a previous post, $75 sq ft in Morgan Hill, it can get there. 10% drop for 2008 is conservative and misguided. 20% you can count on. As beautiful as Temecula is, it is just to far away, was too reliant on the RE industry as a whole, and the trickle down effect will hit it hard. No need to get into all of this again though, this area has been covered in previous threads, and if you don’t see it you never will until it is to late.

So let’s talk about the higher end areas a bit.
Many of the wealthy in the area who profited on the RE area over the years are obviously quite concerned. We’ve had friends in the area ask us if we would come in and start speculating again. Nope, not yet. All the higher end plans have gone stagnant, and yes the higher end areas will get hit. The higher end areas were reliant on SD, LA, and OC relocates moving into the area, you can’t sell anywhere now, so no more buyers. How does the saying go, the bigger they are, the harder they fall.

For a rundown of such areas from North to South:

Canyon Lake:
Older parts in the gated area have always kept the best properties down, but they still went crazy with the bubble. Even though waterfront is cool, Lake Elsinore as a whole is dragging it down to the depths.

La Cresta (Murietta):
5 acre lots, horse properties, a bit far for many, but a nice area. This area took off with the bubble as OC, SD, and LA folks were able to sell their 2500 sq ft for a mill, and get a 4000sq ft on 5 acres for that same mill. In 2001 we bought a 5 acre lot for 400k and sold for 500k in a matter of months. This area has been struggling with sales for some time, and yes it will drop significantly. That same 5 acre lot and house that sold for a mill in 01, might’ve sold for 2 and a change at peak, and in the late 90’s could’ve been had for 600k tops. Lot’s of room to fall.

Bear Creek:
Love this area. Was a $100,000 away from living there. I know they wished they sold it to me now. Gated with the only private course and country club in the area, this is where many of the elite and power brokers of the area live. Room to fall? oh yeah. On the east side of Bear Creek, a developer went bad years ago, and those half completed homes still sit there, for years now in the same state, right next to the people that did move in. A Resale in that part can be had cheap as it is the least desirable area within Bear Creek. You have townhomes in the area that sold for 400k in 00 and 01, that were resold at a mill during peak, and some misguided sellers still asf 8-900 for. They are about 3000 sq ft and are nice. There are also smaller condos, and then there are the semi customs and customs.

Meadoview:
Not quite as nice as the above, but it does have some nice homes, is in the middle of Temecula, wide variety to choose from. This area was built up in the 80’s and 90’s when Temecula was dirt roads, so you can imagine what the original costs were, and why this area has so much room for depreciation. Beware the need to replace your septic tank in this area, that has been an issue for a number of people there. About a year ago, we went and lowballed about a dozen homes, all said no way, and everyone would sell today at 10-20% less than I offered.

Area between Meadoview and Nicholas (can’t remember the name of it for the life of me):
Was supposed to be semi custom on 1 acre lots. DEAD.

Wine Country:
This is a big area, and is a matter of lifestyle, what you are looking for etc. Rancon was going to build the area of all areas near the entrance of WC, to coincide with 3 new wineries. As far as the wineries go, I believe that is full steam ahead, but have heard nothing of the res project. It is an ambitious plan, and this was my target for permanent residence. If the same plan is in place, I would look forward to still doing it now at a better price. But they may not have enough buyers regardless. The farther out you go, the older the home, the farther the prices will drop. Not to mention all the spec builders stuck with inventory, they may be happy with 50 cents on the dollar.

DeLuz/Rennaisance Estates
They would love to sell to you. Some homes here are super cool as on a clear day you can see the Pacific to one side, and Temecula to the other. Hard to get to.

Rancho Santiago/Santiago Estates:
Right in town, some nice places. Older the home, farther it will drop. Beware bad septic, and stay away from anything near the proposed hospital. Those properties are already on the cheap, and they’ve been trying to sell for a couple of years with no shot. Coincidentally, these residents (NIMBY) are one reason why the hospital hasn’t broken ground.

That’s something that hasn’t been touched as a pro con, is the inadequate hospital facilities in the area. That hospital on 79 is needed in the worst way, but thanks to politics don’t hold your breath for the opening.

On that note, of all these areas one has to think about emergency services. If you have a heart attack in Bear Creek, Meadowview, Rancho Santiago, chances are you’ll be ok. De Luz, Wine Country outskirts, La Cresta, it might take awhile for the ambulance to get there.

In regards to the higher education center which would’ve been a coup for Temecula that was to be built towards Zevo, that’s quashed and is a dead project.

I still think it’s a great area, but if you want to be safe buying, pay no more that 2001 prices. And I still think there is room to fall from there.

The global economy and recession will be worse than you think. The farther away from an economic center, the worse it will be.

[bearvine]

Nice day in Temecula…Haven’t been on Piggington in a bit, and thought I’d check it out after spending a nice day in Temecula. Before I become bearish about the area, I will start by saying that we had a nice breakfast at South Coast Winery with some decent vino, played Cross Creek (this course was supposed to be the centerpiece of a housing development on the De Luz side that got squashed, and now remains a gem of a golf course undiscovered by most) and then hit the high limit at Pechanga. Again, there are not many places you can do this, and it is a great benefit of living there. Which I do miss to a degree.

Didn’t have time to visit McMillin in Morgan Hill, or Gallery. No need to get their hopes up that we might buy some homes as “investors” which we’ve been pitched to do by EVERY builder in the area for the last year.

Changing the name of Hwy 79 to Temecula Parkway was a nice touch, and more places to go on 79 is nice, and good to see the mall expanding.

Still convinced there is gonna be a big hurt coming. I’ll stand by a previous post, $75 sq ft in Morgan Hill, it can get there. 10% drop for 2008 is conservative and misguided. 20% you can count on. As beautiful as Temecula is, it is just to far away, was too reliant on the RE industry as a whole, and the trickle down effect will hit it hard. No need to get into all of this again though, this area has been covered in previous threads, and if you don’t see it you never will until it is to late.

So let’s talk about the higher end areas a bit.
Many of the wealthy in the area who profited on the RE area over the years are obviously quite concerned. We’ve had friends in the area ask us if we would come in and start speculating again. Nope, not yet. All the higher end plans have gone stagnant, and yes the higher end areas will get hit. The higher end areas were reliant on SD, LA, and OC relocates moving into the area, you can’t sell anywhere now, so no more buyers. How does the saying go, the bigger they are, the harder they fall.

For a rundown of such areas from North to South:

Canyon Lake:
Older parts in the gated area have always kept the best properties down, but they still went crazy with the bubble. Even though waterfront is cool, Lake Elsinore as a whole is dragging it down to the depths.

La Cresta (Murietta):
5 acre lots, horse properties, a bit far for many, but a nice area. This area took off with the bubble as OC, SD, and LA folks were able to sell their 2500 sq ft for a mill, and get a 4000sq ft on 5 acres for that same mill. In 2001 we bought a 5 acre lot for 400k and sold for 500k in a matter of months. This area has been struggling with sales for some time, and yes it will drop significantly. That same 5 acre lot and house that sold for a mill in 01, might’ve sold for 2 and a change at peak, and in the late 90’s could’ve been had for 600k tops. Lot’s of room to fall.

Bear Creek:
Love this area. Was a $100,000 away from living there. I know they wished they sold it to me now. Gated with the only private course and country club in the area, this is where many of the elite and power brokers of the area live. Room to fall? oh yeah. On the east side of Bear Creek, a developer went bad years ago, and those half completed homes still sit there, for years now in the same state, right next to the people that did move in. A Resale in that part can be had cheap as it is the least desirable area within Bear Creek. You have townhomes in the area that sold for 400k in 00 and 01, that were resold at a mill during peak, and some misguided sellers still asf 8-900 for. They are about 3000 sq ft and are nice. There are also smaller condos, and then there are the semi customs and customs.

Meadoview:
Not quite as nice as the above, but it does have some nice homes, is in the middle of Temecula, wide variety to choose from. This area was built up in the 80’s and 90’s when Temecula was dirt roads, so you can imagine what the original costs were, and why this area has so much room for depreciation. Beware the need to replace your septic tank in this area, that has been an issue for a number of people there. About a year ago, we went and lowballed about a dozen homes, all said no way, and everyone would sell today at 10-20% less than I offered.

Area between Meadoview and Nicholas (can’t remember the name of it for the life of me):
Was supposed to be semi custom on 1 acre lots. DEAD.

Wine Country:
This is a big area, and is a matter of lifestyle, what you are looking for etc. Rancon was going to build the area of all areas near the entrance of WC, to coincide with 3 new wineries. As far as the wineries go, I believe that is full steam ahead, but have heard nothing of the res project. It is an ambitious plan, and this was my target for permanent residence. If the same plan is in place, I would look forward to still doing it now at a better price. But they may not have enough buyers regardless. The farther out you go, the older the home, the farther the prices will drop. Not to mention all the spec builders stuck with inventory, they may be happy with 50 cents on the dollar.

DeLuz/Rennaisance Estates
They would love to sell to you. Some homes here are super cool as on a clear day you can see the Pacific to one side, and Temecula to the other. Hard to get to.

Rancho Santiago/Santiago Estates:
Right in town, some nice places. Older the home, farther it will drop. Beware bad septic, and stay away from anything near the proposed hospital. Those properties are already on the cheap, and they’ve been trying to sell for a couple of years with no shot. Coincidentally, these residents (NIMBY) are one reason why the hospital hasn’t broken ground.

That’s something that hasn’t been touched as a pro con, is the inadequate hospital facilities in the area. That hospital on 79 is needed in the worst way, but thanks to politics don’t hold your breath for the opening.

On that note, of all these areas one has to think about emergency services. If you have a heart attack in Bear Creek, Meadowview, Rancho Santiago, chances are you’ll be ok. De Luz, Wine Country outskirts, La Cresta, it might take awhile for the ambulance to get there.

In regards to the higher education center which would’ve been a coup for Temecula that was to be built towards Zevo, that’s quashed and is a dead project.

I still think it’s a great area, but if you want to be safe buying, pay no more that 2001 prices. And I still think there is room to fall from there.

The global economy and recession will be worse than you think. The farther away from an economic center, the worse it will be.

[bearvine]

Welcome to Irvine…

When we moved back to OC from Temecula, we initially moved into Quail Ridge, an IAC development. Great place, and if you want to have the ability to move into a newer home similar to CV, Quail Hill is a similar neighborhood in regards to newness, nice topography, etc. This way you won’t have to switch schools, which was a concern for us.

Anywhere in Irvine you will find good schools, and Alderwood elementary is no exception. For our needs and what we were looking for, it was the best, and has proved itself to be an incredible school. IMO, the two best schools are Alderwood and Bonita Canyon in Turtle Rock.

We have employees scattered throughout IAC communities, and if I were to rank the two best IAC communities, it would be Quail Ridge and the Villages. With QR getting the preference for families and the Village if you are single. The Village is newer, nicer, right across from the Spectrum and more of a corporate feel, and if you do like it better the kids there do go to Alderwood.

[bearvine]

Welcome to Irvine…

When we moved back to OC from Temecula, we initially moved into Quail Ridge, an IAC development. Great place, and if you want to have the ability to move into a newer home similar to CV, Quail Hill is a similar neighborhood in regards to newness, nice topography, etc. This way you won’t have to switch schools, which was a concern for us.

Anywhere in Irvine you will find good schools, and Alderwood elementary is no exception. For our needs and what we were looking for, it was the best, and has proved itself to be an incredible school. IMO, the two best schools are Alderwood and Bonita Canyon in Turtle Rock.

We have employees scattered throughout IAC communities, and if I were to rank the two best IAC communities, it would be Quail Ridge and the Villages. With QR getting the preference for families and the Village if you are single. The Village is newer, nicer, right across from the Spectrum and more of a corporate feel, and if you do like it better the kids there do go to Alderwood.

[bearvine]

Welcome to Irvine…

When we moved back to OC from Temecula, we initially moved into Quail Ridge, an IAC development. Great place, and if you want to have the ability to move into a newer home similar to CV, Quail Hill is a similar neighborhood in regards to newness, nice topography, etc. This way you won’t have to switch schools, which was a concern for us.

Anywhere in Irvine you will find good schools, and Alderwood elementary is no exception. For our needs and what we were looking for, it was the best, and has proved itself to be an incredible school. IMO, the two best schools are Alderwood and Bonita Canyon in Turtle Rock.

We have employees scattered throughout IAC communities, and if I were to rank the two best IAC communities, it would be Quail Ridge and the Villages. With QR getting the preference for families and the Village if you are single. The Village is newer, nicer, right across from the Spectrum and more of a corporate feel, and if you do like it better the kids there do go to Alderwood.

[bearvine]

Welcome to Irvine…

When we moved back to OC from Temecula, we initially moved into Quail Ridge, an IAC development. Great place, and if you want to have the ability to move into a newer home similar to CV, Quail Hill is a similar neighborhood in regards to newness, nice topography, etc. This way you won’t have to switch schools, which was a concern for us.

Anywhere in Irvine you will find good schools, and Alderwood elementary is no exception. For our needs and what we were looking for, it was the best, and has proved itself to be an incredible school. IMO, the two best schools are Alderwood and Bonita Canyon in Turtle Rock.

We have employees scattered throughout IAC communities, and if I were to rank the two best IAC communities, it would be Quail Ridge and the Villages. With QR getting the preference for families and the Village if you are single. The Village is newer, nicer, right across from the Spectrum and more of a corporate feel, and if you do like it better the kids there do go to Alderwood.

[bearvine]

Welcome to Irvine…

When we moved back to OC from Temecula, we initially moved into Quail Ridge, an IAC development. Great place, and if you want to have the ability to move into a newer home similar to CV, Quail Hill is a similar neighborhood in regards to newness, nice topography, etc. This way you won’t have to switch schools, which was a concern for us.

Anywhere in Irvine you will find good schools, and Alderwood elementary is no exception. For our needs and what we were looking for, it was the best, and has proved itself to be an incredible school. IMO, the two best schools are Alderwood and Bonita Canyon in Turtle Rock.

We have employees scattered throughout IAC communities, and if I were to rank the two best IAC communities, it would be Quail Ridge and the Villages. With QR getting the preference for families and the Village if you are single. The Village is newer, nicer, right across from the Spectrum and more of a corporate feel, and if you do like it better the kids there do go to Alderwood.

[bearvine]

Reality Bites…$118 sq ft in Morgan Hill.

$300k for 4000 sq ft IS a good goal in Morgan Hill, might not get there but it will get close.

Do the research on cycles, follow all the blogs, read the WSJ, and realize Temecula is on the fringe of SoCal, was one of the last areas to rise and is one of the first areas to get crushed.

Again, no question it’s a great area. Before taking off to the east coast for an extended period, scheduled some meetings out there, played 9 at Temecula Creek, ate and drank at South Coast Winery, and hit the tables at Pechanga. Not to many areas you can do that all in one day.

Drank up a storm, and everywhere was empty, with the exception of Pechanga where people are trying to supplement their incomes.

There is a lot of money in Temecula, some very well to do folks and very respectable backgrounds, one of the highest per capita areas with post graduate degrees. There were also a lot of folks in the RE industry, from the paper side of mortgage and realtors to the building side. And ALL these RE folks are hurting with the exception of some of the principals.

Over 600 homes for sale in 92592 alone.

$118 sq ft in Morgan Hill:
$444,900 for 3755 sq ft with a brown lawn
MLS #: T07163659
A former Shea home.

Think this makes the neighbor with the same model down the street feel good when they are asking $799k for the same model? Almost $100 per sq ft more? Who cares about the lot difference or upgrades for that differential.

Don’t think the other dozen homes for sale in the Shea section aren’t feeling the heat. Many are now in the $130’s per sq ft. Ask them a year ago if they ever thought it would be that bad. They would say hell no, it would take a national calamity.

And folks, that is what we are facing.

[bearvine]

Reality Bites…$118 sq ft in Morgan Hill.

$300k for 4000 sq ft IS a good goal in Morgan Hill, might not get there but it will get close.

Do the research on cycles, follow all the blogs, read the WSJ, and realize Temecula is on the fringe of SoCal, was one of the last areas to rise and is one of the first areas to get crushed.

Again, no question it’s a great area. Before taking off to the east coast for an extended period, scheduled some meetings out there, played 9 at Temecula Creek, ate and drank at South Coast Winery, and hit the tables at Pechanga. Not to many areas you can do that all in one day.

Drank up a storm, and everywhere was empty, with the exception of Pechanga where people are trying to supplement their incomes.

There is a lot of money in Temecula, some very well to do folks and very respectable backgrounds, one of the highest per capita areas with post graduate degrees. There were also a lot of folks in the RE industry, from the paper side of mortgage and realtors to the building side. And ALL these RE folks are hurting with the exception of some of the principals.

Over 600 homes for sale in 92592 alone.

$118 sq ft in Morgan Hill:
$444,900 for 3755 sq ft with a brown lawn
MLS #: T07163659
A former Shea home.

Think this makes the neighbor with the same model down the street feel good when they are asking $799k for the same model? Almost $100 per sq ft more? Who cares about the lot difference or upgrades for that differential.

Don’t think the other dozen homes for sale in the Shea section aren’t feeling the heat. Many are now in the $130’s per sq ft. Ask them a year ago if they ever thought it would be that bad. They would say hell no, it would take a national calamity.

And folks, that is what we are facing.

[bearvine]

Reality Bites…$118 sq ft in Morgan Hill.

$300k for 4000 sq ft IS a good goal in Morgan Hill, might not get there but it will get close.

Do the research on cycles, follow all the blogs, read the WSJ, and realize Temecula is on the fringe of SoCal, was one of the last areas to rise and is one of the first areas to get crushed.

Again, no question it’s a great area. Before taking off to the east coast for an extended period, scheduled some meetings out there, played 9 at Temecula Creek, ate and drank at South Coast Winery, and hit the tables at Pechanga. Not to many areas you can do that all in one day.

Drank up a storm, and everywhere was empty, with the exception of Pechanga where people are trying to supplement their incomes.

There is a lot of money in Temecula, some very well to do folks and very respectable backgrounds, one of the highest per capita areas with post graduate degrees. There were also a lot of folks in the RE industry, from the paper side of mortgage and realtors to the building side. And ALL these RE folks are hurting with the exception of some of the principals.

Over 600 homes for sale in 92592 alone.

$118 sq ft in Morgan Hill:
$444,900 for 3755 sq ft with a brown lawn
MLS #: T07163659
A former Shea home.

Think this makes the neighbor with the same model down the street feel good when they are asking $799k for the same model? Almost $100 per sq ft more? Who cares about the lot difference or upgrades for that differential.

Don’t think the other dozen homes for sale in the Shea section aren’t feeling the heat. Many are now in the $130’s per sq ft. Ask them a year ago if they ever thought it would be that bad. They would say hell no, it would take a national calamity.

And folks, that is what we are facing.

[bearvine]

Reality Bites…$118 sq ft in Morgan Hill.

$300k for 4000 sq ft IS a good goal in Morgan Hill, might not get there but it will get close.

Do the research on cycles, follow all the blogs, read the WSJ, and realize Temecula is on the fringe of SoCal, was one of the last areas to rise and is one of the first areas to get crushed.

Again, no question it’s a great area. Before taking off to the east coast for an extended period, scheduled some meetings out there, played 9 at Temecula Creek, ate and drank at South Coast Winery, and hit the tables at Pechanga. Not to many areas you can do that all in one day.

Drank up a storm, and everywhere was empty, with the exception of Pechanga where people are trying to supplement their incomes.

There is a lot of money in Temecula, some very well to do folks and very respectable backgrounds, one of the highest per capita areas with post graduate degrees. There were also a lot of folks in the RE industry, from the paper side of mortgage and realtors to the building side. And ALL these RE folks are hurting with the exception of some of the principals.

Over 600 homes for sale in 92592 alone.

$118 sq ft in Morgan Hill:
$444,900 for 3755 sq ft with a brown lawn
MLS #: T07163659
A former Shea home.

Think this makes the neighbor with the same model down the street feel good when they are asking $799k for the same model? Almost $100 per sq ft more? Who cares about the lot difference or upgrades for that differential.

Don’t think the other dozen homes for sale in the Shea section aren’t feeling the heat. Many are now in the $130’s per sq ft. Ask them a year ago if they ever thought it would be that bad. They would say hell no, it would take a national calamity.

And folks, that is what we are facing.

[bearvine]

Reality Bites…$118 sq ft in Morgan Hill.

$300k for 4000 sq ft IS a good goal in Morgan Hill, might not get there but it will get close.

Do the research on cycles, follow all the blogs, read the WSJ, and realize Temecula is on the fringe of SoCal, was one of the last areas to rise and is one of the first areas to get crushed.

Again, no question it’s a great area. Before taking off to the east coast for an extended period, scheduled some meetings out there, played 9 at Temecula Creek, ate and drank at South Coast Winery, and hit the tables at Pechanga. Not to many areas you can do that all in one day.

Drank up a storm, and everywhere was empty, with the exception of Pechanga where people are trying to supplement their incomes.

There is a lot of money in Temecula, some very well to do folks and very respectable backgrounds, one of the highest per capita areas with post graduate degrees. There were also a lot of folks in the RE industry, from the paper side of mortgage and realtors to the building side. And ALL these RE folks are hurting with the exception of some of the principals.

Over 600 homes for sale in 92592 alone.

$118 sq ft in Morgan Hill:
$444,900 for 3755 sq ft with a brown lawn
MLS #: T07163659
A former Shea home.

Think this makes the neighbor with the same model down the street feel good when they are asking $799k for the same model? Almost $100 per sq ft more? Who cares about the lot difference or upgrades for that differential.

Don’t think the other dozen homes for sale in the Shea section aren’t feeling the heat. Many are now in the $130’s per sq ft. Ask them a year ago if they ever thought it would be that bad. They would say hell no, it would take a national calamity.

And folks, that is what we are facing.

[Author]

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