[burghMan]

For a while I’ve wondered what would happen in TV because I also perceived it as mainly a bedroom community.

Temecula is definitely not a job center. But after living here for many years, I’m surprised how many people I’ve met that have good jobs and do not commute. I would have to say I know more non-commuters than commuters. One particular type of job that is common among Temecula residents is a sales position that covers a Southern CA territory. Temecula works well for this role because it is centrally located in SoCal, is affordable, and is a nice place to live.

Plus, for those that do commute, Rancho Bernardo and even Carlsbad is still less than an hour (about 40 miles, not 60). I would say homes in Temecula are easily less than half the price of comparable homes in the areas that do have jobs. For many, this price difference is compelling. If values in higher-priced areas hold up, I do not see why values would fall even more Temecula.

I don’t expect Temecula to grow much going forward(which is fine by me). However, I also don’t think comparisons to Victorville and Palmdale are accurate. These areas were even farther out from the job centers, and Temecula is a much nicer place.

[burghMan]

For a while I’ve wondered what would happen in TV because I also perceived it as mainly a bedroom community.

Temecula is definitely not a job center. But after living here for many years, I’m surprised how many people I’ve met that have good jobs and do not commute. I would have to say I know more non-commuters than commuters. One particular type of job that is common among Temecula residents is a sales position that covers a Southern CA territory. Temecula works well for this role because it is centrally located in SoCal, is affordable, and is a nice place to live.

Plus, for those that do commute, Rancho Bernardo and even Carlsbad is still less than an hour (about 40 miles, not 60). I would say homes in Temecula are easily less than half the price of comparable homes in the areas that do have jobs. For many, this price difference is compelling. If values in higher-priced areas hold up, I do not see why values would fall even more Temecula.

I don’t expect Temecula to grow much going forward(which is fine by me). However, I also don’t think comparisons to Victorville and Palmdale are accurate. These areas were even farther out from the job centers, and Temecula is a much nicer place.

[burghMan]

For a while I’ve wondered what would happen in TV because I also perceived it as mainly a bedroom community.

Temecula is definitely not a job center. But after living here for many years, I’m surprised how many people I’ve met that have good jobs and do not commute. I would have to say I know more non-commuters than commuters. One particular type of job that is common among Temecula residents is a sales position that covers a Southern CA territory. Temecula works well for this role because it is centrally located in SoCal, is affordable, and is a nice place to live.

Plus, for those that do commute, Rancho Bernardo and even Carlsbad is still less than an hour (about 40 miles, not 60). I would say homes in Temecula are easily less than half the price of comparable homes in the areas that do have jobs. For many, this price difference is compelling. If values in higher-priced areas hold up, I do not see why values would fall even more Temecula.

I don’t expect Temecula to grow much going forward(which is fine by me). However, I also don’t think comparisons to Victorville and Palmdale are accurate. These areas were even farther out from the job centers, and Temecula is a much nicer place.

[burghMan]

My observations are similar to TGs and lazydogs.

I’m in Crowne Hill. Foreclosures seem to have dropped off, but there’s still short sale activity. My neighbor is actually moving up to a bigger house. His current home is the exact same model as mine and he has listed it for about 15% more than the refi appraisal I got a year ago.

It all seems strange. An eerie calm. Seems like there should have been more pain before this was over. Could it be the eye of the storm?

I think the large number of people that have stopped paying mortgages is generating some cash flow for the economy that eventually has to run out. I have no predictions for the future, but personally I’m going to be cautious.

[burghMan]

My observations are similar to TGs and lazydogs.

I’m in Crowne Hill. Foreclosures seem to have dropped off, but there’s still short sale activity. My neighbor is actually moving up to a bigger house. His current home is the exact same model as mine and he has listed it for about 15% more than the refi appraisal I got a year ago.

It all seems strange. An eerie calm. Seems like there should have been more pain before this was over. Could it be the eye of the storm?

I think the large number of people that have stopped paying mortgages is generating some cash flow for the economy that eventually has to run out. I have no predictions for the future, but personally I’m going to be cautious.

[burghMan]

My observations are similar to TGs and lazydogs.

I’m in Crowne Hill. Foreclosures seem to have dropped off, but there’s still short sale activity. My neighbor is actually moving up to a bigger house. His current home is the exact same model as mine and he has listed it for about 15% more than the refi appraisal I got a year ago.

It all seems strange. An eerie calm. Seems like there should have been more pain before this was over. Could it be the eye of the storm?

I think the large number of people that have stopped paying mortgages is generating some cash flow for the economy that eventually has to run out. I have no predictions for the future, but personally I’m going to be cautious.

[burghMan]

My observations are similar to TGs and lazydogs.

I’m in Crowne Hill. Foreclosures seem to have dropped off, but there’s still short sale activity. My neighbor is actually moving up to a bigger house. His current home is the exact same model as mine and he has listed it for about 15% more than the refi appraisal I got a year ago.

It all seems strange. An eerie calm. Seems like there should have been more pain before this was over. Could it be the eye of the storm?

I think the large number of people that have stopped paying mortgages is generating some cash flow for the economy that eventually has to run out. I have no predictions for the future, but personally I’m going to be cautious.

[burghMan]

My observations are similar to TGs and lazydogs.

I’m in Crowne Hill. Foreclosures seem to have dropped off, but there’s still short sale activity. My neighbor is actually moving up to a bigger house. His current home is the exact same model as mine and he has listed it for about 15% more than the refi appraisal I got a year ago.

It all seems strange. An eerie calm. Seems like there should have been more pain before this was over. Could it be the eye of the storm?

I think the large number of people that have stopped paying mortgages is generating some cash flow for the economy that eventually has to run out. I have no predictions for the future, but personally I’m going to be cautious.

[burghMan]

There was an episode of American Greed on CNBC recently that documented a counterfeit ring in LA (BTW American Greed is a fun show!)

Some guy figured out how to use ink-jet printers and relatively ordinary newsprint to make some pretty good fakes. He distributed them through several layers of street gangs. He sold the fake $100s in bulk for about $15 each. Most bills went through a few middlemen before they hit the streets. The Feds had a hard time tracking him down, but eventually busted him.

The show gave a lot of information about how the bills were made. One trick they used to thwart the detection pens was to coat the bills with hairspray.

They were able to reproduce the watermarks to a level that a casual inspection may not detect the bill as a fake, but one feature they could not reproduce was the color-changing effect of the denomination number.

[burghMan]

There was an episode of American Greed on CNBC recently that documented a counterfeit ring in LA (BTW American Greed is a fun show!)

Some guy figured out how to use ink-jet printers and relatively ordinary newsprint to make some pretty good fakes. He distributed them through several layers of street gangs. He sold the fake $100s in bulk for about $15 each. Most bills went through a few middlemen before they hit the streets. The Feds had a hard time tracking him down, but eventually busted him.

The show gave a lot of information about how the bills were made. One trick they used to thwart the detection pens was to coat the bills with hairspray.

They were able to reproduce the watermarks to a level that a casual inspection may not detect the bill as a fake, but one feature they could not reproduce was the color-changing effect of the denomination number.

[burghMan]

There was an episode of American Greed on CNBC recently that documented a counterfeit ring in LA (BTW American Greed is a fun show!)

Some guy figured out how to use ink-jet printers and relatively ordinary newsprint to make some pretty good fakes. He distributed them through several layers of street gangs. He sold the fake $100s in bulk for about $15 each. Most bills went through a few middlemen before they hit the streets. The Feds had a hard time tracking him down, but eventually busted him.

The show gave a lot of information about how the bills were made. One trick they used to thwart the detection pens was to coat the bills with hairspray.

They were able to reproduce the watermarks to a level that a casual inspection may not detect the bill as a fake, but one feature they could not reproduce was the color-changing effect of the denomination number.

[burghMan]

There was an episode of American Greed on CNBC recently that documented a counterfeit ring in LA (BTW American Greed is a fun show!)

Some guy figured out how to use ink-jet printers and relatively ordinary newsprint to make some pretty good fakes. He distributed them through several layers of street gangs. He sold the fake $100s in bulk for about $15 each. Most bills went through a few middlemen before they hit the streets. The Feds had a hard time tracking him down, but eventually busted him.

The show gave a lot of information about how the bills were made. One trick they used to thwart the detection pens was to coat the bills with hairspray.

They were able to reproduce the watermarks to a level that a casual inspection may not detect the bill as a fake, but one feature they could not reproduce was the color-changing effect of the denomination number.

[burghMan]

There was an episode of American Greed on CNBC recently that documented a counterfeit ring in LA (BTW American Greed is a fun show!)

Some guy figured out how to use ink-jet printers and relatively ordinary newsprint to make some pretty good fakes. He distributed them through several layers of street gangs. He sold the fake $100s in bulk for about $15 each. Most bills went through a few middlemen before they hit the streets. The Feds had a hard time tracking him down, but eventually busted him.

The show gave a lot of information about how the bills were made. One trick they used to thwart the detection pens was to coat the bills with hairspray.

They were able to reproduce the watermarks to a level that a casual inspection may not detect the bill as a fake, but one feature they could not reproduce was the color-changing effect of the denomination number.

[burghMan]

I had a very similar experience with USAA Mortgage – twice!

Back in 2001 or so, they barely complted my mortgage on time. Could never get through to them, and then suddenly received lots of last-minute requests from the “underwriter.” Almost didn’t close on time. I remember making many angry frustrated calls — into an answering machine!

I was foolish enough to give them another chance in 2004. Same issues. I gave up on them about a week into to process and went with another lender. I sent USAA a letter explaining my frustration, asking for my $250 application fee back. Never got any response.

Their insurance and banking are great, but their mortgage department is as bad as any. (Mortgage is outsourced to some company called PHH.)

IMO, USAA is very foolish to allow this one segment of their business tarnish their strong brand.

[burghMan]

I had a very similar experience with USAA Mortgage – twice!

Back in 2001 or so, they barely complted my mortgage on time. Could never get through to them, and then suddenly received lots of last-minute requests from the “underwriter.” Almost didn’t close on time. I remember making many angry frustrated calls — into an answering machine!

I was foolish enough to give them another chance in 2004. Same issues. I gave up on them about a week into to process and went with another lender. I sent USAA a letter explaining my frustration, asking for my $250 application fee back. Never got any response.

Their insurance and banking are great, but their mortgage department is as bad as any. (Mortgage is outsourced to some company called PHH.)

IMO, USAA is very foolish to allow this one segment of their business tarnish their strong brand.

[Author]

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