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bearvine
ParticipantSurvival is what it is…I could go on a diatribe and go on about the social ills, political challenges, economic forces, and all about the situation of the RE market and where it was and is now.
Bottom line, we do the best we can with the information we are given, and are in a constant battle of survival. Often we battle ourselves, we want more and we want it now.
In our case, we felt as if we were forced into flipping as we saw the immediate neighborhoods we purchased to live in change radically in a short period of time. Whether the fault of ill equipped flippers, deceitful developers, or our own devices, what we thought we bought into wasn’t, we had the opportunity of correcting the mistake by selling (or flipping) and actually could do so while making money, the answer was simple, sell and get out of Dodge.
ParticipantSurvival is what it is…I could go on a diatribe and go on about the social ills, political challenges, economic forces, and all about the situation of the RE market and where it was and is now.
Bottom line, we do the best we can with the information we are given, and are in a constant battle of survival. Often we battle ourselves, we want more and we want it now.
In our case, we felt as if we were forced into flipping as we saw the immediate neighborhoods we purchased to live in change radically in a short period of time. Whether the fault of ill equipped flippers, deceitful developers, or our own devices, what we thought we bought into wasn’t, we had the opportunity of correcting the mistake by selling (or flipping) and actually could do so while making money, the answer was simple, sell and get out of Dodge.
Participant12 mo restriction’s were BS…From what I understand during the wild rush of flipping, very few builders actually enforced these documents.
As far as Morgan Hill goes, and to me all of the new developments in the IE, it was and is all about the sale.
Breaking down the neighborhoods, Shea had a sales rep there who was a flipper himself, and used his position to set up him and his cronies.
K Hov was more than happy to look the other way, all one had to do was be nice, and claim extenuating circumstances, or simply just sell or rent their property at move in.
McMillin is all show, they knew they were continuing to build and continue to sell. They even encourage moving around in the neighborhood, as long as it means another new sale.Participant12 mo restriction’s were BS…From what I understand during the wild rush of flipping, very few builders actually enforced these documents.
As far as Morgan Hill goes, and to me all of the new developments in the IE, it was and is all about the sale.
Breaking down the neighborhoods, Shea had a sales rep there who was a flipper himself, and used his position to set up him and his cronies.
K Hov was more than happy to look the other way, all one had to do was be nice, and claim extenuating circumstances, or simply just sell or rent their property at move in.
McMillin is all show, they knew they were continuing to build and continue to sell. They even encourage moving around in the neighborhood, as long as it means another new sale.Participant4000 sq ft for $300k is a good goal in Morgan Hill, we know it will get to $100 sq ft because it is already there in so many areas. TG, you are right, there aren’t too many this size in MH, but there are plenty in the 3000-3700 sq ft range, and these will be sub $300.
So if you do beat me out, and get that 4000 sq ft home with a view, upgrades, and only needing the brown landscaping replaced for $305, as long as I am in the $80 per sq ft range I’ll be happy.
However, I still not make a move until we find out what McMillin does with all those lots planned on the other side of Blackstone. They do not have Irvine Co deep pockets, where they can just sit on it for years.
I am still sensing McMillin auctions coming in the near future.
Anyways, for those considering buying in French Valley,Elsinore, Wildomar, Hemet, Beaumont, or anything like that, JUST DON’T. You’ll regret it soon.
If you have to get a deal, and you work in town or SD, get a deal in South Temecula.
If you commute from OC/LA get a deal in Harveston, just make sure you stay in Temecula. If you do Murrieta make sure its close to the 15.
Participant4000 sq ft for $300k is a good goal in Morgan Hill, we know it will get to $100 sq ft because it is already there in so many areas. TG, you are right, there aren’t too many this size in MH, but there are plenty in the 3000-3700 sq ft range, and these will be sub $300.
So if you do beat me out, and get that 4000 sq ft home with a view, upgrades, and only needing the brown landscaping replaced for $305, as long as I am in the $80 per sq ft range I’ll be happy.
However, I still not make a move until we find out what McMillin does with all those lots planned on the other side of Blackstone. They do not have Irvine Co deep pockets, where they can just sit on it for years.
I am still sensing McMillin auctions coming in the near future.
Anyways, for those considering buying in French Valley,Elsinore, Wildomar, Hemet, Beaumont, or anything like that, JUST DON’T. You’ll regret it soon.
If you have to get a deal, and you work in town or SD, get a deal in South Temecula.
If you commute from OC/LA get a deal in Harveston, just make sure you stay in Temecula. If you do Murrieta make sure its close to the 15.
ParticipantUnequivocally, Temecula is the best city in the IE to live in. Hands down, from infrastructure to geography and beyond.
In regards to Morgan Hill, having lived and owned there in multiple homes, and previously planning to make that the long term permanent home, IMO nicest of the tract neighborhoods in Temecula.
That being said, it is far from impervious. Look at the war zone on Mumm street, which was featured on LA’s channel 4 back in the summer as a street gone bad due to foreclosures. The streets where Shea developed- there’s a REO deal there at cheaper than 2004.
http://www.knbc.com/houseandhome/13514202/detail.html
http://video.knbc.com/player/?id=120347(if these links dont work, go to the site and search under foreclosures-its on the 2nd page of results)
Tudal street has had foreclosures and dead lawns abundant since the beginning of the year, with the exception of the house that put astroturf in the front yard (not the good fake grass, astroturf)
McMillin does not have as deep of pockets as one may think, and though they have been trying to sell off inventory by cutting prices, wait till all those poor people who got snowed in 05 and 06 and 07 at peak prices have their 5 year ARMs end.
For those of you perusing this site with any inkling of buying, make sure it is your DREAM home. Remember the trickle down theory- the pain the major institutions are going through have yet to fully makes its way to us, and we are the ones who always pay the price.
I will buy back in Temecula as an investor, and to have a second home. One will likely be in Morgan Hill, have cash ready, and will pay no more than $300k for a 4000 sq ft home.
It’s already happening in Tuscany Hills of Lake Elsinore, which is(was) a very nice area in the wrong city. Would never buy there again though.
The crash is going to come hard, it’s tough to hear, but it is reality. Friends in the area who still own, have equity lines with 0 balances that were received at near peak value, they are prepared to use that money wisely to combat the loss in value they will get hit with. Perhaps buy something at the bottom (2010-2013 by most educated analysts prediction) sell on the next upswing on the investment property and be at a breakeven with their current home.
Just rent in Morgan Hill, 3000+ sq ft home, dont pay more than $2k.
ParticipantUnequivocally, Temecula is the best city in the IE to live in. Hands down, from infrastructure to geography and beyond.
In regards to Morgan Hill, having lived and owned there in multiple homes, and previously planning to make that the long term permanent home, IMO nicest of the tract neighborhoods in Temecula.
That being said, it is far from impervious. Look at the war zone on Mumm street, which was featured on LA’s channel 4 back in the summer as a street gone bad due to foreclosures. The streets where Shea developed- there’s a REO deal there at cheaper than 2004.
http://www.knbc.com/houseandhome/13514202/detail.html
http://video.knbc.com/player/?id=120347(if these links dont work, go to the site and search under foreclosures-its on the 2nd page of results)
Tudal street has had foreclosures and dead lawns abundant since the beginning of the year, with the exception of the house that put astroturf in the front yard (not the good fake grass, astroturf)
McMillin does not have as deep of pockets as one may think, and though they have been trying to sell off inventory by cutting prices, wait till all those poor people who got snowed in 05 and 06 and 07 at peak prices have their 5 year ARMs end.
For those of you perusing this site with any inkling of buying, make sure it is your DREAM home. Remember the trickle down theory- the pain the major institutions are going through have yet to fully makes its way to us, and we are the ones who always pay the price.
I will buy back in Temecula as an investor, and to have a second home. One will likely be in Morgan Hill, have cash ready, and will pay no more than $300k for a 4000 sq ft home.
It’s already happening in Tuscany Hills of Lake Elsinore, which is(was) a very nice area in the wrong city. Would never buy there again though.
The crash is going to come hard, it’s tough to hear, but it is reality. Friends in the area who still own, have equity lines with 0 balances that were received at near peak value, they are prepared to use that money wisely to combat the loss in value they will get hit with. Perhaps buy something at the bottom (2010-2013 by most educated analysts prediction) sell on the next upswing on the investment property and be at a breakeven with their current home.
Just rent in Morgan Hill, 3000+ sq ft home, dont pay more than $2k.
ParticipantMost sellers are in denial, and have to be for the preservation of their sanity…
Example #2 is a tract home, by Pulte in an unincorporated area of south Temecula near Redhawk and Morgan Hill.
They have always been asking too much, would not be surprised if it is owned by Pulte, and they are using an outside broker to sell what is left.
ParticipantMost sellers are in denial, and have to be for the preservation of their sanity…
Example #2 is a tract home, by Pulte in an unincorporated area of south Temecula near Redhawk and Morgan Hill.
They have always been asking too much, would not be surprised if it is owned by Pulte, and they are using an outside broker to sell what is left.
ParticipantFirst time post for a former Temecula homeowner and now a renter in Irvine…Still peruse this great site just to keep tabs. You guys obviously know the area well, and perhaps my two cents may help.
What makes the market in Temecula/Murrieta even more difficult to predict than other markets, is the sheer number of homes for sale and new product that is still entering the market. The inventory will take much longer to get to bearable numbers simply because there are not enough buyers out there. It was a false market, with “investors” buying multiple homes driving up demand and prices, and now that they are gone there are simply not enough jobs in the area or people that want to move there.
There are many aspects that make it a great area to live, but more reasons not to want to be there. The traffic is worse than ever, and five years ago during the push, it was bearable, and people could justify the move. Simply can’t do it now, 2-3 hrs each way, prices still to high, and no loans anyways deter the commuting potential home owner.
In regards to new jobs, not enough, not fast enough, and not enough pay.
If one does not have to commute, has a means of income, Temecula is a great family oriented community and a nice place to live with a flavor unique to all of socal. But if you are in the car all the time, what’s the point?
We enjoyed living in South Temecula, as we owned in Morgan Hill, sold, moved up, saw the writing on the wall and sold and moved out of town. Aside from the RE market indicators, one reason why we moved is I could not see my kids going to high school a block away from a casino. As nice as Pechanga is, and as much good as they do for the area, just wasn’t the environment I wanted for our kids. With that in mind, a caution about Wolf Creek, as historically, living next to a casino is not a good thing.
Bottom line, $100 sq ft is realistic in the best areas, and may even be too high. When the price gets to that point, people will be lured to the area again IMO.
On a side note, put off the home thoughts, treat yourself to a Vizio at Costco (great deal) get HD, and enjoy an unparalleled home entertainment experience.
ParticipantFirst time post for a former Temecula homeowner and now a renter in Irvine…Still peruse this great site just to keep tabs. You guys obviously know the area well, and perhaps my two cents may help.
What makes the market in Temecula/Murrieta even more difficult to predict than other markets, is the sheer number of homes for sale and new product that is still entering the market. The inventory will take much longer to get to bearable numbers simply because there are not enough buyers out there. It was a false market, with “investors” buying multiple homes driving up demand and prices, and now that they are gone there are simply not enough jobs in the area or people that want to move there.
There are many aspects that make it a great area to live, but more reasons not to want to be there. The traffic is worse than ever, and five years ago during the push, it was bearable, and people could justify the move. Simply can’t do it now, 2-3 hrs each way, prices still to high, and no loans anyways deter the commuting potential home owner.
In regards to new jobs, not enough, not fast enough, and not enough pay.
If one does not have to commute, has a means of income, Temecula is a great family oriented community and a nice place to live with a flavor unique to all of socal. But if you are in the car all the time, what’s the point?
We enjoyed living in South Temecula, as we owned in Morgan Hill, sold, moved up, saw the writing on the wall and sold and moved out of town. Aside from the RE market indicators, one reason why we moved is I could not see my kids going to high school a block away from a casino. As nice as Pechanga is, and as much good as they do for the area, just wasn’t the environment I wanted for our kids. With that in mind, a caution about Wolf Creek, as historically, living next to a casino is not a good thing.
Bottom line, $100 sq ft is realistic in the best areas, and may even be too high. When the price gets to that point, people will be lured to the area again IMO.
On a side note, put off the home thoughts, treat yourself to a Vizio at Costco (great deal) get HD, and enjoy an unparalleled home entertainment experience.
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