[bearvine]

Rental Observations-

The thought pattern is that the rental market will stay strong, and get stronger in better markets. This applies only for residences that fall into the general area of affordability for the masses. For example, in the heart of Irvine, an IAC 2br 2ba townhome will cost one close to $2500 mo. Small from a sq ft perception, yet great amenities, landlord security, and an easy lifestyle. And the townhomes rent fast. On the other hand I am in a 4000 sq ft rental at $5k month for a $2m home on the hill. These don’t rent easy because it doesn’t make sense to pay so much. BTW, a neighboring home near me in foreclosure, that didnt sell at the aforementioned auction, the owners are squatting and refuse to leave.

So how does this apply to Temecula? Good points about the tight market now, yet the double home occupancy effect. Right on about commuters simply moving out of the area.

I think the rental market in Temecula will take a hit. Where it will stay strong, is a newer, 2000 sq ft home will rent fast at $1700, and the closer to 3000 sq ft around $1900. One could get more, but that’s the fast rental zone.

There will be job growth however, but not be higher scale, which is good for the rental market.

Right now, if you buy right, there should not be a negative, and if there is, the overage would cost one less than $5k a year. Now if I’m being to bearish on rents, and the market is stronger, than you are making money. Best to prepare for the worst case.

So why buy? Just as Temecula is dropping like a rock, at the next cycle it will take off like a rocket. The area is nice, will improve, and more people will need to live there.
If you can make some money annually or at least break even, come 2014-15 you’ll see the big jump right then and there.

That being said, right now is still not a great time to buy, especially from the rental standpoint. Why now when drops will be bigger?

The key IMO, is cherry picking, buying in the right neighborhood, finding the every now and then steal, etc. Of course the right price matters, but neighborhood is key. The only older tract homes I would consider are in Redhawk. The golf course, feel, location are all key.

I know I’ve bashed Wolf to death, and there is more about the area that I can’t share. If you have a family absolutely avoid it. Different story if you don’t. Great buys as rentals when they get into the low 2’s, proximity to Pechanga and Pala make it a great area to rent out.

Why buy now? If you find your dream home, meets all your needs, rent would cost you more, in a better area of Temecula, less than $300k, pay around $100 sq, why not.

Why would one start buying now to use as rentals? We believe we will be able to command a rental premium by giving the tenant piece of mind that we have the financial stability and won’t foreclose, as there is that issue right now for renters. Additionally, even if we are higher now, dollar cost averaging as the market continues to plummet will protect us. And once we establish with banks in the area that we are buying properties, we can negotiate sweetheart deals directly before they bring it to market. So we have to start somewhere, and it is beginning to look more interesting.

Last note, in regards to the fixers, remember contractors in the area are dying and the updating wont be as expensive.

[bearvine]

Rental Observations-

The thought pattern is that the rental market will stay strong, and get stronger in better markets. This applies only for residences that fall into the general area of affordability for the masses. For example, in the heart of Irvine, an IAC 2br 2ba townhome will cost one close to $2500 mo. Small from a sq ft perception, yet great amenities, landlord security, and an easy lifestyle. And the townhomes rent fast. On the other hand I am in a 4000 sq ft rental at $5k month for a $2m home on the hill. These don’t rent easy because it doesn’t make sense to pay so much. BTW, a neighboring home near me in foreclosure, that didnt sell at the aforementioned auction, the owners are squatting and refuse to leave.

So how does this apply to Temecula? Good points about the tight market now, yet the double home occupancy effect. Right on about commuters simply moving out of the area.

I think the rental market in Temecula will take a hit. Where it will stay strong, is a newer, 2000 sq ft home will rent fast at $1700, and the closer to 3000 sq ft around $1900. One could get more, but that’s the fast rental zone.

There will be job growth however, but not be higher scale, which is good for the rental market.

Right now, if you buy right, there should not be a negative, and if there is, the overage would cost one less than $5k a year. Now if I’m being to bearish on rents, and the market is stronger, than you are making money. Best to prepare for the worst case.

So why buy? Just as Temecula is dropping like a rock, at the next cycle it will take off like a rocket. The area is nice, will improve, and more people will need to live there.
If you can make some money annually or at least break even, come 2014-15 you’ll see the big jump right then and there.

That being said, right now is still not a great time to buy, especially from the rental standpoint. Why now when drops will be bigger?

The key IMO, is cherry picking, buying in the right neighborhood, finding the every now and then steal, etc. Of course the right price matters, but neighborhood is key. The only older tract homes I would consider are in Redhawk. The golf course, feel, location are all key.

I know I’ve bashed Wolf to death, and there is more about the area that I can’t share. If you have a family absolutely avoid it. Different story if you don’t. Great buys as rentals when they get into the low 2’s, proximity to Pechanga and Pala make it a great area to rent out.

Why buy now? If you find your dream home, meets all your needs, rent would cost you more, in a better area of Temecula, less than $300k, pay around $100 sq, why not.

Why would one start buying now to use as rentals? We believe we will be able to command a rental premium by giving the tenant piece of mind that we have the financial stability and won’t foreclose, as there is that issue right now for renters. Additionally, even if we are higher now, dollar cost averaging as the market continues to plummet will protect us. And once we establish with banks in the area that we are buying properties, we can negotiate sweetheart deals directly before they bring it to market. So we have to start somewhere, and it is beginning to look more interesting.

Last note, in regards to the fixers, remember contractors in the area are dying and the updating wont be as expensive.

[bearvine]

Rental Observations-

The thought pattern is that the rental market will stay strong, and get stronger in better markets. This applies only for residences that fall into the general area of affordability for the masses. For example, in the heart of Irvine, an IAC 2br 2ba townhome will cost one close to $2500 mo. Small from a sq ft perception, yet great amenities, landlord security, and an easy lifestyle. And the townhomes rent fast. On the other hand I am in a 4000 sq ft rental at $5k month for a $2m home on the hill. These don’t rent easy because it doesn’t make sense to pay so much. BTW, a neighboring home near me in foreclosure, that didnt sell at the aforementioned auction, the owners are squatting and refuse to leave.

So how does this apply to Temecula? Good points about the tight market now, yet the double home occupancy effect. Right on about commuters simply moving out of the area.

I think the rental market in Temecula will take a hit. Where it will stay strong, is a newer, 2000 sq ft home will rent fast at $1700, and the closer to 3000 sq ft around $1900. One could get more, but that’s the fast rental zone.

There will be job growth however, but not be higher scale, which is good for the rental market.

Right now, if you buy right, there should not be a negative, and if there is, the overage would cost one less than $5k a year. Now if I’m being to bearish on rents, and the market is stronger, than you are making money. Best to prepare for the worst case.

So why buy? Just as Temecula is dropping like a rock, at the next cycle it will take off like a rocket. The area is nice, will improve, and more people will need to live there.
If you can make some money annually or at least break even, come 2014-15 you’ll see the big jump right then and there.

That being said, right now is still not a great time to buy, especially from the rental standpoint. Why now when drops will be bigger?

The key IMO, is cherry picking, buying in the right neighborhood, finding the every now and then steal, etc. Of course the right price matters, but neighborhood is key. The only older tract homes I would consider are in Redhawk. The golf course, feel, location are all key.

I know I’ve bashed Wolf to death, and there is more about the area that I can’t share. If you have a family absolutely avoid it. Different story if you don’t. Great buys as rentals when they get into the low 2’s, proximity to Pechanga and Pala make it a great area to rent out.

Why buy now? If you find your dream home, meets all your needs, rent would cost you more, in a better area of Temecula, less than $300k, pay around $100 sq, why not.

Why would one start buying now to use as rentals? We believe we will be able to command a rental premium by giving the tenant piece of mind that we have the financial stability and won’t foreclose, as there is that issue right now for renters. Additionally, even if we are higher now, dollar cost averaging as the market continues to plummet will protect us. And once we establish with banks in the area that we are buying properties, we can negotiate sweetheart deals directly before they bring it to market. So we have to start somewhere, and it is beginning to look more interesting.

Last note, in regards to the fixers, remember contractors in the area are dying and the updating wont be as expensive.

[bearvine]

Rental Observations-

The thought pattern is that the rental market will stay strong, and get stronger in better markets. This applies only for residences that fall into the general area of affordability for the masses. For example, in the heart of Irvine, an IAC 2br 2ba townhome will cost one close to $2500 mo. Small from a sq ft perception, yet great amenities, landlord security, and an easy lifestyle. And the townhomes rent fast. On the other hand I am in a 4000 sq ft rental at $5k month for a $2m home on the hill. These don’t rent easy because it doesn’t make sense to pay so much. BTW, a neighboring home near me in foreclosure, that didnt sell at the aforementioned auction, the owners are squatting and refuse to leave.

So how does this apply to Temecula? Good points about the tight market now, yet the double home occupancy effect. Right on about commuters simply moving out of the area.

I think the rental market in Temecula will take a hit. Where it will stay strong, is a newer, 2000 sq ft home will rent fast at $1700, and the closer to 3000 sq ft around $1900. One could get more, but that’s the fast rental zone.

There will be job growth however, but not be higher scale, which is good for the rental market.

Right now, if you buy right, there should not be a negative, and if there is, the overage would cost one less than $5k a year. Now if I’m being to bearish on rents, and the market is stronger, than you are making money. Best to prepare for the worst case.

So why buy? Just as Temecula is dropping like a rock, at the next cycle it will take off like a rocket. The area is nice, will improve, and more people will need to live there.
If you can make some money annually or at least break even, come 2014-15 you’ll see the big jump right then and there.

That being said, right now is still not a great time to buy, especially from the rental standpoint. Why now when drops will be bigger?

The key IMO, is cherry picking, buying in the right neighborhood, finding the every now and then steal, etc. Of course the right price matters, but neighborhood is key. The only older tract homes I would consider are in Redhawk. The golf course, feel, location are all key.

I know I’ve bashed Wolf to death, and there is more about the area that I can’t share. If you have a family absolutely avoid it. Different story if you don’t. Great buys as rentals when they get into the low 2’s, proximity to Pechanga and Pala make it a great area to rent out.

Why buy now? If you find your dream home, meets all your needs, rent would cost you more, in a better area of Temecula, less than $300k, pay around $100 sq, why not.

Why would one start buying now to use as rentals? We believe we will be able to command a rental premium by giving the tenant piece of mind that we have the financial stability and won’t foreclose, as there is that issue right now for renters. Additionally, even if we are higher now, dollar cost averaging as the market continues to plummet will protect us. And once we establish with banks in the area that we are buying properties, we can negotiate sweetheart deals directly before they bring it to market. So we have to start somewhere, and it is beginning to look more interesting.

Last note, in regards to the fixers, remember contractors in the area are dying and the updating wont be as expensive.

[bearvine]

Rental Observations-

The thought pattern is that the rental market will stay strong, and get stronger in better markets. This applies only for residences that fall into the general area of affordability for the masses. For example, in the heart of Irvine, an IAC 2br 2ba townhome will cost one close to $2500 mo. Small from a sq ft perception, yet great amenities, landlord security, and an easy lifestyle. And the townhomes rent fast. On the other hand I am in a 4000 sq ft rental at $5k month for a $2m home on the hill. These don’t rent easy because it doesn’t make sense to pay so much. BTW, a neighboring home near me in foreclosure, that didnt sell at the aforementioned auction, the owners are squatting and refuse to leave.

So how does this apply to Temecula? Good points about the tight market now, yet the double home occupancy effect. Right on about commuters simply moving out of the area.

I think the rental market in Temecula will take a hit. Where it will stay strong, is a newer, 2000 sq ft home will rent fast at $1700, and the closer to 3000 sq ft around $1900. One could get more, but that’s the fast rental zone.

There will be job growth however, but not be higher scale, which is good for the rental market.

Right now, if you buy right, there should not be a negative, and if there is, the overage would cost one less than $5k a year. Now if I’m being to bearish on rents, and the market is stronger, than you are making money. Best to prepare for the worst case.

So why buy? Just as Temecula is dropping like a rock, at the next cycle it will take off like a rocket. The area is nice, will improve, and more people will need to live there.
If you can make some money annually or at least break even, come 2014-15 you’ll see the big jump right then and there.

That being said, right now is still not a great time to buy, especially from the rental standpoint. Why now when drops will be bigger?

The key IMO, is cherry picking, buying in the right neighborhood, finding the every now and then steal, etc. Of course the right price matters, but neighborhood is key. The only older tract homes I would consider are in Redhawk. The golf course, feel, location are all key.

I know I’ve bashed Wolf to death, and there is more about the area that I can’t share. If you have a family absolutely avoid it. Different story if you don’t. Great buys as rentals when they get into the low 2’s, proximity to Pechanga and Pala make it a great area to rent out.

Why buy now? If you find your dream home, meets all your needs, rent would cost you more, in a better area of Temecula, less than $300k, pay around $100 sq, why not.

Why would one start buying now to use as rentals? We believe we will be able to command a rental premium by giving the tenant piece of mind that we have the financial stability and won’t foreclose, as there is that issue right now for renters. Additionally, even if we are higher now, dollar cost averaging as the market continues to plummet will protect us. And once we establish with banks in the area that we are buying properties, we can negotiate sweetheart deals directly before they bring it to market. So we have to start somewhere, and it is beginning to look more interesting.

Last note, in regards to the fixers, remember contractors in the area are dying and the updating wont be as expensive.

[bearvine]

After golf and Pechanga, tomorrow I will go check out a couple of those properties asking low 3’s with my in the area realtor buds, and will offer $50g less than the asking and see what will happen.

Even with a counter, and even though $ per sq ft is higher than we would like, the Redhawk property TG mentioned and the Murrieta property pizzaman mentioned will rent with positive cash flow, and are in decent enough neighborhoods.

Once the banks start taking the low ball offers, it’s on and $75 sq ft in Morgan Hill will be around the corner in 2010.

The trickle down effect in Temecula will become Niagra Falls.

I know the area, and the local economy cannot support the flood of homes that are on and will hit the market. The outside buyers the area relied on, do not need to buy there. If you work in SD, why buy Temecula, pay a bit more and live in 4S. If you work in OC, you can buy Chino Hills now at a deal, and soon in HB, FV, and the other old areas.

If you live out of area, there is no need to move there for affordable housing.

If you are a Marine, Oceanside will soon be affordable again.

FYI, 40 homes in the OC went to auction at the courthouse last week and only 2 sold.

IE will drop faster, but the rest of SoCal will follow.

[bearvine]

After golf and Pechanga, tomorrow I will go check out a couple of those properties asking low 3’s with my in the area realtor buds, and will offer $50g less than the asking and see what will happen.

Even with a counter, and even though $ per sq ft is higher than we would like, the Redhawk property TG mentioned and the Murrieta property pizzaman mentioned will rent with positive cash flow, and are in decent enough neighborhoods.

Once the banks start taking the low ball offers, it’s on and $75 sq ft in Morgan Hill will be around the corner in 2010.

The trickle down effect in Temecula will become Niagra Falls.

I know the area, and the local economy cannot support the flood of homes that are on and will hit the market. The outside buyers the area relied on, do not need to buy there. If you work in SD, why buy Temecula, pay a bit more and live in 4S. If you work in OC, you can buy Chino Hills now at a deal, and soon in HB, FV, and the other old areas.

If you live out of area, there is no need to move there for affordable housing.

If you are a Marine, Oceanside will soon be affordable again.

FYI, 40 homes in the OC went to auction at the courthouse last week and only 2 sold.

IE will drop faster, but the rest of SoCal will follow.

[bearvine]

After golf and Pechanga, tomorrow I will go check out a couple of those properties asking low 3’s with my in the area realtor buds, and will offer $50g less than the asking and see what will happen.

Even with a counter, and even though $ per sq ft is higher than we would like, the Redhawk property TG mentioned and the Murrieta property pizzaman mentioned will rent with positive cash flow, and are in decent enough neighborhoods.

Once the banks start taking the low ball offers, it’s on and $75 sq ft in Morgan Hill will be around the corner in 2010.

The trickle down effect in Temecula will become Niagra Falls.

I know the area, and the local economy cannot support the flood of homes that are on and will hit the market. The outside buyers the area relied on, do not need to buy there. If you work in SD, why buy Temecula, pay a bit more and live in 4S. If you work in OC, you can buy Chino Hills now at a deal, and soon in HB, FV, and the other old areas.

If you live out of area, there is no need to move there for affordable housing.

If you are a Marine, Oceanside will soon be affordable again.

FYI, 40 homes in the OC went to auction at the courthouse last week and only 2 sold.

IE will drop faster, but the rest of SoCal will follow.

[bearvine]

After golf and Pechanga, tomorrow I will go check out a couple of those properties asking low 3’s with my in the area realtor buds, and will offer $50g less than the asking and see what will happen.

Even with a counter, and even though $ per sq ft is higher than we would like, the Redhawk property TG mentioned and the Murrieta property pizzaman mentioned will rent with positive cash flow, and are in decent enough neighborhoods.

Once the banks start taking the low ball offers, it’s on and $75 sq ft in Morgan Hill will be around the corner in 2010.

The trickle down effect in Temecula will become Niagra Falls.

I know the area, and the local economy cannot support the flood of homes that are on and will hit the market. The outside buyers the area relied on, do not need to buy there. If you work in SD, why buy Temecula, pay a bit more and live in 4S. If you work in OC, you can buy Chino Hills now at a deal, and soon in HB, FV, and the other old areas.

If you live out of area, there is no need to move there for affordable housing.

If you are a Marine, Oceanside will soon be affordable again.

FYI, 40 homes in the OC went to auction at the courthouse last week and only 2 sold.

IE will drop faster, but the rest of SoCal will follow.

[bearvine]

After golf and Pechanga, tomorrow I will go check out a couple of those properties asking low 3’s with my in the area realtor buds, and will offer $50g less than the asking and see what will happen.

Even with a counter, and even though $ per sq ft is higher than we would like, the Redhawk property TG mentioned and the Murrieta property pizzaman mentioned will rent with positive cash flow, and are in decent enough neighborhoods.

Once the banks start taking the low ball offers, it’s on and $75 sq ft in Morgan Hill will be around the corner in 2010.

The trickle down effect in Temecula will become Niagra Falls.

I know the area, and the local economy cannot support the flood of homes that are on and will hit the market. The outside buyers the area relied on, do not need to buy there. If you work in SD, why buy Temecula, pay a bit more and live in 4S. If you work in OC, you can buy Chino Hills now at a deal, and soon in HB, FV, and the other old areas.

If you live out of area, there is no need to move there for affordable housing.

If you are a Marine, Oceanside will soon be affordable again.

FYI, 40 homes in the OC went to auction at the courthouse last week and only 2 sold.

IE will drop faster, but the rest of SoCal will follow.

[bearvine]

Disagree if you’d like…

But telling me to put the crack pipe down, those are fighting words…I have displayed in previous threads knowledge of Temecula beyond most on this board, and it comes from having lived there, invested there, been involved in the political and business communities, and a strong background in investment and real estate matters.

We all do what we have to do to survive in this world, and many of us on these boards are doing our best to warn others without the same knowledge to be wary and prepare for a deep recession.

What’s the worse that can happen in being patient? Interest rates will not go up for some time, and prices certainly aren’t going up. Prices can only go down or stay stagnant.

In regards to all the bottom feeders waiting to snap up property, that’s not going to happen either. Last week, 40 homes went to auction in Orange County at the Santa Ana courthouse. 2 sold. 2. I had a colleague with $1.2m ready to buy a home in Irvine, and the bank wouldnt take less than $1.5. Down from a sales price of $2.5 in 2007, and $2m this year. Cheap stuff didnt sell either.

Go to Redfin, type in 92592, and see how many green for sale signs come up. You will have to narrow your search to the area over Morgan Hill, because there are too many homes to map. Get over Morgan and Redhawk, and boom, 443 houses for sale. Simple supply and demand.

For a human side, look at http://www.redfin.com/stingray/do/printable-listing?listing-id=1452962 this guy 2 years ago had the nicest looking tract home in Morgan. Talked about it being worth a million bucks. Had the giant K Hov Plan 4 with a 4 car garage that people fought over during the phase release. Next thing you know it, gotta move, brown lawn, bank cant get $117 sq ft for it.

Then look at all the Greystone/Redhawk homes on Manchester right below Morgan that the banks cant find buyers at in the $100’s sq ft for.

Morgan Hill may be one of the nicest areas in Temecula, but it will get dragged down by the rest of the area, and with help from homes being short sold within the community.

Then add the guys who will “walk away” like those on the board who are talking about doing such.

Personally, I don’t want to see a recession. I make more money when the economy is moving. But a realist I am.

For those of you trying to figure out what to do, just look at the facts.

There’s no changing the myopic views of some of those out there whether they be bears or bulls.

[bearvine]

Disagree if you’d like…

But telling me to put the crack pipe down, those are fighting words…I have displayed in previous threads knowledge of Temecula beyond most on this board, and it comes from having lived there, invested there, been involved in the political and business communities, and a strong background in investment and real estate matters.

We all do what we have to do to survive in this world, and many of us on these boards are doing our best to warn others without the same knowledge to be wary and prepare for a deep recession.

What’s the worse that can happen in being patient? Interest rates will not go up for some time, and prices certainly aren’t going up. Prices can only go down or stay stagnant.

In regards to all the bottom feeders waiting to snap up property, that’s not going to happen either. Last week, 40 homes went to auction in Orange County at the Santa Ana courthouse. 2 sold. 2. I had a colleague with $1.2m ready to buy a home in Irvine, and the bank wouldnt take less than $1.5. Down from a sales price of $2.5 in 2007, and $2m this year. Cheap stuff didnt sell either.

Go to Redfin, type in 92592, and see how many green for sale signs come up. You will have to narrow your search to the area over Morgan Hill, because there are too many homes to map. Get over Morgan and Redhawk, and boom, 443 houses for sale. Simple supply and demand.

For a human side, look at http://www.redfin.com/stingray/do/printable-listing?listing-id=1452962 this guy 2 years ago had the nicest looking tract home in Morgan. Talked about it being worth a million bucks. Had the giant K Hov Plan 4 with a 4 car garage that people fought over during the phase release. Next thing you know it, gotta move, brown lawn, bank cant get $117 sq ft for it.

Then look at all the Greystone/Redhawk homes on Manchester right below Morgan that the banks cant find buyers at in the $100’s sq ft for.

Morgan Hill may be one of the nicest areas in Temecula, but it will get dragged down by the rest of the area, and with help from homes being short sold within the community.

Then add the guys who will “walk away” like those on the board who are talking about doing such.

Personally, I don’t want to see a recession. I make more money when the economy is moving. But a realist I am.

For those of you trying to figure out what to do, just look at the facts.

There’s no changing the myopic views of some of those out there whether they be bears or bulls.

[bearvine]

Disagree if you’d like…

But telling me to put the crack pipe down, those are fighting words…I have displayed in previous threads knowledge of Temecula beyond most on this board, and it comes from having lived there, invested there, been involved in the political and business communities, and a strong background in investment and real estate matters.

We all do what we have to do to survive in this world, and many of us on these boards are doing our best to warn others without the same knowledge to be wary and prepare for a deep recession.

What’s the worse that can happen in being patient? Interest rates will not go up for some time, and prices certainly aren’t going up. Prices can only go down or stay stagnant.

In regards to all the bottom feeders waiting to snap up property, that’s not going to happen either. Last week, 40 homes went to auction in Orange County at the Santa Ana courthouse. 2 sold. 2. I had a colleague with $1.2m ready to buy a home in Irvine, and the bank wouldnt take less than $1.5. Down from a sales price of $2.5 in 2007, and $2m this year. Cheap stuff didnt sell either.

Go to Redfin, type in 92592, and see how many green for sale signs come up. You will have to narrow your search to the area over Morgan Hill, because there are too many homes to map. Get over Morgan and Redhawk, and boom, 443 houses for sale. Simple supply and demand.

For a human side, look at http://www.redfin.com/stingray/do/printable-listing?listing-id=1452962 this guy 2 years ago had the nicest looking tract home in Morgan. Talked about it being worth a million bucks. Had the giant K Hov Plan 4 with a 4 car garage that people fought over during the phase release. Next thing you know it, gotta move, brown lawn, bank cant get $117 sq ft for it.

Then look at all the Greystone/Redhawk homes on Manchester right below Morgan that the banks cant find buyers at in the $100’s sq ft for.

Morgan Hill may be one of the nicest areas in Temecula, but it will get dragged down by the rest of the area, and with help from homes being short sold within the community.

Then add the guys who will “walk away” like those on the board who are talking about doing such.

Personally, I don’t want to see a recession. I make more money when the economy is moving. But a realist I am.

For those of you trying to figure out what to do, just look at the facts.

There’s no changing the myopic views of some of those out there whether they be bears or bulls.

[bearvine]

Disagree if you’d like…

But telling me to put the crack pipe down, those are fighting words…I have displayed in previous threads knowledge of Temecula beyond most on this board, and it comes from having lived there, invested there, been involved in the political and business communities, and a strong background in investment and real estate matters.

We all do what we have to do to survive in this world, and many of us on these boards are doing our best to warn others without the same knowledge to be wary and prepare for a deep recession.

What’s the worse that can happen in being patient? Interest rates will not go up for some time, and prices certainly aren’t going up. Prices can only go down or stay stagnant.

In regards to all the bottom feeders waiting to snap up property, that’s not going to happen either. Last week, 40 homes went to auction in Orange County at the Santa Ana courthouse. 2 sold. 2. I had a colleague with $1.2m ready to buy a home in Irvine, and the bank wouldnt take less than $1.5. Down from a sales price of $2.5 in 2007, and $2m this year. Cheap stuff didnt sell either.

Go to Redfin, type in 92592, and see how many green for sale signs come up. You will have to narrow your search to the area over Morgan Hill, because there are too many homes to map. Get over Morgan and Redhawk, and boom, 443 houses for sale. Simple supply and demand.

For a human side, look at http://www.redfin.com/stingray/do/printable-listing?listing-id=1452962 this guy 2 years ago had the nicest looking tract home in Morgan. Talked about it being worth a million bucks. Had the giant K Hov Plan 4 with a 4 car garage that people fought over during the phase release. Next thing you know it, gotta move, brown lawn, bank cant get $117 sq ft for it.

Then look at all the Greystone/Redhawk homes on Manchester right below Morgan that the banks cant find buyers at in the $100’s sq ft for.

Morgan Hill may be one of the nicest areas in Temecula, but it will get dragged down by the rest of the area, and with help from homes being short sold within the community.

Then add the guys who will “walk away” like those on the board who are talking about doing such.

Personally, I don’t want to see a recession. I make more money when the economy is moving. But a realist I am.

For those of you trying to figure out what to do, just look at the facts.

There’s no changing the myopic views of some of those out there whether they be bears or bulls.

[bearvine]

Disagree if you’d like…

But telling me to put the crack pipe down, those are fighting words…I have displayed in previous threads knowledge of Temecula beyond most on this board, and it comes from having lived there, invested there, been involved in the political and business communities, and a strong background in investment and real estate matters.

We all do what we have to do to survive in this world, and many of us on these boards are doing our best to warn others without the same knowledge to be wary and prepare for a deep recession.

What’s the worse that can happen in being patient? Interest rates will not go up for some time, and prices certainly aren’t going up. Prices can only go down or stay stagnant.

In regards to all the bottom feeders waiting to snap up property, that’s not going to happen either. Last week, 40 homes went to auction in Orange County at the Santa Ana courthouse. 2 sold. 2. I had a colleague with $1.2m ready to buy a home in Irvine, and the bank wouldnt take less than $1.5. Down from a sales price of $2.5 in 2007, and $2m this year. Cheap stuff didnt sell either.

Go to Redfin, type in 92592, and see how many green for sale signs come up. You will have to narrow your search to the area over Morgan Hill, because there are too many homes to map. Get over Morgan and Redhawk, and boom, 443 houses for sale. Simple supply and demand.

For a human side, look at http://www.redfin.com/stingray/do/printable-listing?listing-id=1452962 this guy 2 years ago had the nicest looking tract home in Morgan. Talked about it being worth a million bucks. Had the giant K Hov Plan 4 with a 4 car garage that people fought over during the phase release. Next thing you know it, gotta move, brown lawn, bank cant get $117 sq ft for it.

Then look at all the Greystone/Redhawk homes on Manchester right below Morgan that the banks cant find buyers at in the $100’s sq ft for.

Morgan Hill may be one of the nicest areas in Temecula, but it will get dragged down by the rest of the area, and with help from homes being short sold within the community.

Then add the guys who will “walk away” like those on the board who are talking about doing such.

Personally, I don’t want to see a recession. I make more money when the economy is moving. But a realist I am.

For those of you trying to figure out what to do, just look at the facts.

There’s no changing the myopic views of some of those out there whether they be bears or bulls.

[Author]

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