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bearvine
ParticipantClarification: WIN TG-
Thanks for the clarification on what you want, now to me the answer for you TG is clear, WIN. I wasn’t saying live frugally, but live easy to move. Go get that 50″ Vizio, have nice furniture, have nice clothes, just not too much crap in the house so it is easy to move. Stock the place with the best liquor, and you are good to go.
We have some things in common, I buy lux cars 2 years old not because I can’t afford to buy them new, but because I get it it cheaper and that’s the way I beat the system and win. Clearly then, If you buy now even at a great deal, it will piss you off when the house next door goes REO and sells for $90k less 6 months later.
I still have some of the brochures from the areas I liked over the years in Temecula, I kept the good ones so that I knew what the resales were all about. Obviously there are people in Redhawk that paid $150 in the late 90’s, but many of those neighborhoods simply look to old. US Homes/Lennar 3000sq ft homes could’ve been had in 01 for $300. Can it get back there? Absolutely.
The area you posted some homes on Fairway Estates, the nicer section where Saint Tisbury is, many of the original owners flipped their homes in 05 and 06 at high prices, bet one will see some of those REO. Not to mention the 1st phasers didnt pay high 5’s and 6’s.
An REO on Mumm in Morgan sold for under 4, and there is another one right now under 4 waiting for you if you really want to buy.
Prices WILL continue to drop.
So my advice on the new plan:
RENT nice, live simply but with nice stuff, drive the car you want, and enjoy your wine women and song.
Continue to build that war chest, decide what percentage of such that you are willing to risk, and use your obvious intelligence and due diligence skills to go high risk high reward on that extra scratch you save from renting vs owning.
When one of the five investments you make pays off with a 10-20x, and house prices have plummeted, you will be KING of Temecula moving into a Santiago Estates custom for under $1m.
ParticipantClarification: WIN TG-
Thanks for the clarification on what you want, now to me the answer for you TG is clear, WIN. I wasn’t saying live frugally, but live easy to move. Go get that 50″ Vizio, have nice furniture, have nice clothes, just not too much crap in the house so it is easy to move. Stock the place with the best liquor, and you are good to go.
We have some things in common, I buy lux cars 2 years old not because I can’t afford to buy them new, but because I get it it cheaper and that’s the way I beat the system and win. Clearly then, If you buy now even at a great deal, it will piss you off when the house next door goes REO and sells for $90k less 6 months later.
I still have some of the brochures from the areas I liked over the years in Temecula, I kept the good ones so that I knew what the resales were all about. Obviously there are people in Redhawk that paid $150 in the late 90’s, but many of those neighborhoods simply look to old. US Homes/Lennar 3000sq ft homes could’ve been had in 01 for $300. Can it get back there? Absolutely.
The area you posted some homes on Fairway Estates, the nicer section where Saint Tisbury is, many of the original owners flipped their homes in 05 and 06 at high prices, bet one will see some of those REO. Not to mention the 1st phasers didnt pay high 5’s and 6’s.
An REO on Mumm in Morgan sold for under 4, and there is another one right now under 4 waiting for you if you really want to buy.
Prices WILL continue to drop.
So my advice on the new plan:
RENT nice, live simply but with nice stuff, drive the car you want, and enjoy your wine women and song.
Continue to build that war chest, decide what percentage of such that you are willing to risk, and use your obvious intelligence and due diligence skills to go high risk high reward on that extra scratch you save from renting vs owning.
When one of the five investments you make pays off with a 10-20x, and house prices have plummeted, you will be KING of Temecula moving into a Santiago Estates custom for under $1m.
ParticipantClarification: WIN TG-
Thanks for the clarification on what you want, now to me the answer for you TG is clear, WIN. I wasn’t saying live frugally, but live easy to move. Go get that 50″ Vizio, have nice furniture, have nice clothes, just not too much crap in the house so it is easy to move. Stock the place with the best liquor, and you are good to go.
We have some things in common, I buy lux cars 2 years old not because I can’t afford to buy them new, but because I get it it cheaper and that’s the way I beat the system and win. Clearly then, If you buy now even at a great deal, it will piss you off when the house next door goes REO and sells for $90k less 6 months later.
I still have some of the brochures from the areas I liked over the years in Temecula, I kept the good ones so that I knew what the resales were all about. Obviously there are people in Redhawk that paid $150 in the late 90’s, but many of those neighborhoods simply look to old. US Homes/Lennar 3000sq ft homes could’ve been had in 01 for $300. Can it get back there? Absolutely.
The area you posted some homes on Fairway Estates, the nicer section where Saint Tisbury is, many of the original owners flipped their homes in 05 and 06 at high prices, bet one will see some of those REO. Not to mention the 1st phasers didnt pay high 5’s and 6’s.
An REO on Mumm in Morgan sold for under 4, and there is another one right now under 4 waiting for you if you really want to buy.
Prices WILL continue to drop.
So my advice on the new plan:
RENT nice, live simply but with nice stuff, drive the car you want, and enjoy your wine women and song.
Continue to build that war chest, decide what percentage of such that you are willing to risk, and use your obvious intelligence and due diligence skills to go high risk high reward on that extra scratch you save from renting vs owning.
When one of the five investments you make pays off with a 10-20x, and house prices have plummeted, you will be KING of Temecula moving into a Santiago Estates custom for under $1m.
ParticipantTough Spot TG…In other posts I may have been a bit harsh in my comparisons of Temecula to other areas, but bottom line I still lurk on these boards so that shows I do like the area…You obviously know the area well, like living there, and the security of dictating your fate as an owner does give peace of mind. Unfortunately in Temecula there is not a predominance of foreign owners who put heavy down payments on their homes or a large corporate entity such as the Irvine Company to rent from.
Aside from running the tax records of your next rental to get a better picture, renting with security in Temecula is not an easy thing to do. You know what is best for you and your family, but for what it is worth, here is my take if I was in your position:
ID the area you want to stay, and eventually buy. If you have kids that will keep them in the same schools, and keep focus only on this area.
Rent a mailbox in this area where all bills go and for continuity.
Rent a storage unit where all non essential possessions go, and have organized with shelving for easy access.
Pick the best rental you can, and live simple and modestly in the home, where you can be ready to move with some friends’ help in a weekend.
Stay in tune with the market…It’s not the easiest scenario, but it is the smartest, and we have practiced what we preach and did use the above scenario.
Why is it the smartest? Any bulls in this market are flat out wrong. The economy will be ok this year during the election year, and through the honeymoon period of the first year of whomever gets elected. Despite the economy being OK, housing is getting killed. When all the ARM resets hit in conjunction with the economy downtrend timing, it’s going to be VERY rough waters. But you know this already, and if you need further validation, check out the incredible analysis on Irvine housing blog. And as much as I like it in Temecula, and have concern for family and friends who own out there, bottom line is that area is going to get hit HARD, worse than SD or OC. Why? On the fringe, no jobs, the mortgage fraud scandal, lack of equity and stable owners, etc.
With that being said, many of the bears that lurk on these sites are just blindly wishing that prices will drop to nothing so that they could buy. That won’t happen either, and if it does, the dollar would be so weak anarchy would ensue.
I might be off in waiting for $80 sq ft, but $100 is realistic and $120 is a slam dunk in Temecula. So if you wait, you will save. If $300-400k for a house is streching it for you, save yourself from the unnecessary pressure of the financial burden of buying a home in a downward spiral market.
The stress of having to move on short notice is much easier to deal with.
ParticipantTough Spot TG…In other posts I may have been a bit harsh in my comparisons of Temecula to other areas, but bottom line I still lurk on these boards so that shows I do like the area…You obviously know the area well, like living there, and the security of dictating your fate as an owner does give peace of mind. Unfortunately in Temecula there is not a predominance of foreign owners who put heavy down payments on their homes or a large corporate entity such as the Irvine Company to rent from.
Aside from running the tax records of your next rental to get a better picture, renting with security in Temecula is not an easy thing to do. You know what is best for you and your family, but for what it is worth, here is my take if I was in your position:
ID the area you want to stay, and eventually buy. If you have kids that will keep them in the same schools, and keep focus only on this area.
Rent a mailbox in this area where all bills go and for continuity.
Rent a storage unit where all non essential possessions go, and have organized with shelving for easy access.
Pick the best rental you can, and live simple and modestly in the home, where you can be ready to move with some friends’ help in a weekend.
Stay in tune with the market…It’s not the easiest scenario, but it is the smartest, and we have practiced what we preach and did use the above scenario.
Why is it the smartest? Any bulls in this market are flat out wrong. The economy will be ok this year during the election year, and through the honeymoon period of the first year of whomever gets elected. Despite the economy being OK, housing is getting killed. When all the ARM resets hit in conjunction with the economy downtrend timing, it’s going to be VERY rough waters. But you know this already, and if you need further validation, check out the incredible analysis on Irvine housing blog. And as much as I like it in Temecula, and have concern for family and friends who own out there, bottom line is that area is going to get hit HARD, worse than SD or OC. Why? On the fringe, no jobs, the mortgage fraud scandal, lack of equity and stable owners, etc.
With that being said, many of the bears that lurk on these sites are just blindly wishing that prices will drop to nothing so that they could buy. That won’t happen either, and if it does, the dollar would be so weak anarchy would ensue.
I might be off in waiting for $80 sq ft, but $100 is realistic and $120 is a slam dunk in Temecula. So if you wait, you will save. If $300-400k for a house is streching it for you, save yourself from the unnecessary pressure of the financial burden of buying a home in a downward spiral market.
The stress of having to move on short notice is much easier to deal with.
ParticipantTough Spot TG…In other posts I may have been a bit harsh in my comparisons of Temecula to other areas, but bottom line I still lurk on these boards so that shows I do like the area…You obviously know the area well, like living there, and the security of dictating your fate as an owner does give peace of mind. Unfortunately in Temecula there is not a predominance of foreign owners who put heavy down payments on their homes or a large corporate entity such as the Irvine Company to rent from.
Aside from running the tax records of your next rental to get a better picture, renting with security in Temecula is not an easy thing to do. You know what is best for you and your family, but for what it is worth, here is my take if I was in your position:
ID the area you want to stay, and eventually buy. If you have kids that will keep them in the same schools, and keep focus only on this area.
Rent a mailbox in this area where all bills go and for continuity.
Rent a storage unit where all non essential possessions go, and have organized with shelving for easy access.
Pick the best rental you can, and live simple and modestly in the home, where you can be ready to move with some friends’ help in a weekend.
Stay in tune with the market…It’s not the easiest scenario, but it is the smartest, and we have practiced what we preach and did use the above scenario.
Why is it the smartest? Any bulls in this market are flat out wrong. The economy will be ok this year during the election year, and through the honeymoon period of the first year of whomever gets elected. Despite the economy being OK, housing is getting killed. When all the ARM resets hit in conjunction with the economy downtrend timing, it’s going to be VERY rough waters. But you know this already, and if you need further validation, check out the incredible analysis on Irvine housing blog. And as much as I like it in Temecula, and have concern for family and friends who own out there, bottom line is that area is going to get hit HARD, worse than SD or OC. Why? On the fringe, no jobs, the mortgage fraud scandal, lack of equity and stable owners, etc.
With that being said, many of the bears that lurk on these sites are just blindly wishing that prices will drop to nothing so that they could buy. That won’t happen either, and if it does, the dollar would be so weak anarchy would ensue.
I might be off in waiting for $80 sq ft, but $100 is realistic and $120 is a slam dunk in Temecula. So if you wait, you will save. If $300-400k for a house is streching it for you, save yourself from the unnecessary pressure of the financial burden of buying a home in a downward spiral market.
The stress of having to move on short notice is much easier to deal with.
ParticipantTough Spot TG…In other posts I may have been a bit harsh in my comparisons of Temecula to other areas, but bottom line I still lurk on these boards so that shows I do like the area…You obviously know the area well, like living there, and the security of dictating your fate as an owner does give peace of mind. Unfortunately in Temecula there is not a predominance of foreign owners who put heavy down payments on their homes or a large corporate entity such as the Irvine Company to rent from.
Aside from running the tax records of your next rental to get a better picture, renting with security in Temecula is not an easy thing to do. You know what is best for you and your family, but for what it is worth, here is my take if I was in your position:
ID the area you want to stay, and eventually buy. If you have kids that will keep them in the same schools, and keep focus only on this area.
Rent a mailbox in this area where all bills go and for continuity.
Rent a storage unit where all non essential possessions go, and have organized with shelving for easy access.
Pick the best rental you can, and live simple and modestly in the home, where you can be ready to move with some friends’ help in a weekend.
Stay in tune with the market…It’s not the easiest scenario, but it is the smartest, and we have practiced what we preach and did use the above scenario.
Why is it the smartest? Any bulls in this market are flat out wrong. The economy will be ok this year during the election year, and through the honeymoon period of the first year of whomever gets elected. Despite the economy being OK, housing is getting killed. When all the ARM resets hit in conjunction with the economy downtrend timing, it’s going to be VERY rough waters. But you know this already, and if you need further validation, check out the incredible analysis on Irvine housing blog. And as much as I like it in Temecula, and have concern for family and friends who own out there, bottom line is that area is going to get hit HARD, worse than SD or OC. Why? On the fringe, no jobs, the mortgage fraud scandal, lack of equity and stable owners, etc.
With that being said, many of the bears that lurk on these sites are just blindly wishing that prices will drop to nothing so that they could buy. That won’t happen either, and if it does, the dollar would be so weak anarchy would ensue.
I might be off in waiting for $80 sq ft, but $100 is realistic and $120 is a slam dunk in Temecula. So if you wait, you will save. If $300-400k for a house is streching it for you, save yourself from the unnecessary pressure of the financial burden of buying a home in a downward spiral market.
The stress of having to move on short notice is much easier to deal with.
ParticipantStay in Irvine Arches…
We moved from OC to Temecula to pursue the big house dream in 2001, for awhile it was great as the commute for me back to Irvine wasn’t bad as I could time my drive. But as the homes started popping up everywhere, the commute became impossible no matter what time of day.
I’ve posted before that if one could work and live in Temecula that it is a nice community. Family oriented, decent schools, golf everywhere, wineries, not quite as hot, and Pechanga is nice.
On the other hand Pechanga can be a trap for many, the sunny attitudes are changing as the equity line atm is empty, it is too hot in the summer to do anything ($300-500 in the summer for 3500sq ft) schools do not compare to Irvine (there is much more to a school than the api) and the wineries get old.
The lifestyle in Irvine BLOWS away Temecula.
As we played the house moving up game we were planning on buying one of the beauties in Morgan Hill by McMillin, and with a good down and decent loan we were still looking at over $5g’s month, even after the tax break.
Said bye bye, and decided to go decadent in Irvine, renting a 3500 sq ft home, on top of a hill, far better upgrades than any home in Temecula, where neighbors are trying to sell for $2m+, and am paying $5g a month in rent.
Now I realize one may say paying that much in rent is ridiculous, but my employer is paying 60% of it for a year so what the heck.
Bottom line, wherever you are right now, RENT.
ParticipantStay in Irvine Arches…
We moved from OC to Temecula to pursue the big house dream in 2001, for awhile it was great as the commute for me back to Irvine wasn’t bad as I could time my drive. But as the homes started popping up everywhere, the commute became impossible no matter what time of day.
I’ve posted before that if one could work and live in Temecula that it is a nice community. Family oriented, decent schools, golf everywhere, wineries, not quite as hot, and Pechanga is nice.
On the other hand Pechanga can be a trap for many, the sunny attitudes are changing as the equity line atm is empty, it is too hot in the summer to do anything ($300-500 in the summer for 3500sq ft) schools do not compare to Irvine (there is much more to a school than the api) and the wineries get old.
The lifestyle in Irvine BLOWS away Temecula.
As we played the house moving up game we were planning on buying one of the beauties in Morgan Hill by McMillin, and with a good down and decent loan we were still looking at over $5g’s month, even after the tax break.
Said bye bye, and decided to go decadent in Irvine, renting a 3500 sq ft home, on top of a hill, far better upgrades than any home in Temecula, where neighbors are trying to sell for $2m+, and am paying $5g a month in rent.
Now I realize one may say paying that much in rent is ridiculous, but my employer is paying 60% of it for a year so what the heck.
Bottom line, wherever you are right now, RENT.
ParticipantStay in Irvine Arches…
We moved from OC to Temecula to pursue the big house dream in 2001, for awhile it was great as the commute for me back to Irvine wasn’t bad as I could time my drive. But as the homes started popping up everywhere, the commute became impossible no matter what time of day.
I’ve posted before that if one could work and live in Temecula that it is a nice community. Family oriented, decent schools, golf everywhere, wineries, not quite as hot, and Pechanga is nice.
On the other hand Pechanga can be a trap for many, the sunny attitudes are changing as the equity line atm is empty, it is too hot in the summer to do anything ($300-500 in the summer for 3500sq ft) schools do not compare to Irvine (there is much more to a school than the api) and the wineries get old.
The lifestyle in Irvine BLOWS away Temecula.
As we played the house moving up game we were planning on buying one of the beauties in Morgan Hill by McMillin, and with a good down and decent loan we were still looking at over $5g’s month, even after the tax break.
Said bye bye, and decided to go decadent in Irvine, renting a 3500 sq ft home, on top of a hill, far better upgrades than any home in Temecula, where neighbors are trying to sell for $2m+, and am paying $5g a month in rent.
Now I realize one may say paying that much in rent is ridiculous, but my employer is paying 60% of it for a year so what the heck.
Bottom line, wherever you are right now, RENT.
ParticipantStay in Irvine Arches…
We moved from OC to Temecula to pursue the big house dream in 2001, for awhile it was great as the commute for me back to Irvine wasn’t bad as I could time my drive. But as the homes started popping up everywhere, the commute became impossible no matter what time of day.
I’ve posted before that if one could work and live in Temecula that it is a nice community. Family oriented, decent schools, golf everywhere, wineries, not quite as hot, and Pechanga is nice.
On the other hand Pechanga can be a trap for many, the sunny attitudes are changing as the equity line atm is empty, it is too hot in the summer to do anything ($300-500 in the summer for 3500sq ft) schools do not compare to Irvine (there is much more to a school than the api) and the wineries get old.
The lifestyle in Irvine BLOWS away Temecula.
As we played the house moving up game we were planning on buying one of the beauties in Morgan Hill by McMillin, and with a good down and decent loan we were still looking at over $5g’s month, even after the tax break.
Said bye bye, and decided to go decadent in Irvine, renting a 3500 sq ft home, on top of a hill, far better upgrades than any home in Temecula, where neighbors are trying to sell for $2m+, and am paying $5g a month in rent.
Now I realize one may say paying that much in rent is ridiculous, but my employer is paying 60% of it for a year so what the heck.
Bottom line, wherever you are right now, RENT.
ParticipantThere are a number of ways to look at this in evaluating the process, many believe the floor will be around 2010, but interest rates may be considerably higher after the election, and it will be harder to qualify. Do not figure on an upswing until at least 2012, more like later than that.
Right now, without negotiating, you can get a 3000+ home in the Morgan Hill/Redhawk area with upgrades on the inside, some hardscape, but a dead lawn for $120 sq ft.
On Sattui street in Morgan Hill, an old Shea neighborhood, which were nice homes and I think a really nice area overall, there are 5 homes in the $130 per sq ft range, and it is only a matter of time for them to start throwing each other under the bus and lowering their prices.
If one really wants to buy right now, just wait till the holidays. If you work it, you’ll find someone desperate in Dec that will drop another 10-20% off there asking price. Target someone in Redhawk, Paseo Del Sol, that bought in the late 90’s early 2000 in the 2’s or less. They’ll still be in the money, and happy to get out.
ParticipantThere are a number of ways to look at this in evaluating the process, many believe the floor will be around 2010, but interest rates may be considerably higher after the election, and it will be harder to qualify. Do not figure on an upswing until at least 2012, more like later than that.
Right now, without negotiating, you can get a 3000+ home in the Morgan Hill/Redhawk area with upgrades on the inside, some hardscape, but a dead lawn for $120 sq ft.
On Sattui street in Morgan Hill, an old Shea neighborhood, which were nice homes and I think a really nice area overall, there are 5 homes in the $130 per sq ft range, and it is only a matter of time for them to start throwing each other under the bus and lowering their prices.
If one really wants to buy right now, just wait till the holidays. If you work it, you’ll find someone desperate in Dec that will drop another 10-20% off there asking price. Target someone in Redhawk, Paseo Del Sol, that bought in the late 90’s early 2000 in the 2’s or less. They’ll still be in the money, and happy to get out.
ParticipantThere are a number of ways to look at this in evaluating the process, many believe the floor will be around 2010, but interest rates may be considerably higher after the election, and it will be harder to qualify. Do not figure on an upswing until at least 2012, more like later than that.
Right now, without negotiating, you can get a 3000+ home in the Morgan Hill/Redhawk area with upgrades on the inside, some hardscape, but a dead lawn for $120 sq ft.
On Sattui street in Morgan Hill, an old Shea neighborhood, which were nice homes and I think a really nice area overall, there are 5 homes in the $130 per sq ft range, and it is only a matter of time for them to start throwing each other under the bus and lowering their prices.
If one really wants to buy right now, just wait till the holidays. If you work it, you’ll find someone desperate in Dec that will drop another 10-20% off there asking price. Target someone in Redhawk, Paseo Del Sol, that bought in the late 90’s early 2000 in the 2’s or less. They’ll still be in the money, and happy to get out.
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