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golfproz
ParticipantBeaumont and Yucaipa have never been considered very nice towns. Redlands however is one of the best in the IE. Beaumont is gonna tank hard and Yucaipa probably will too. Redlands will probably do better but it’s gonna see drops. Most of the newer homes in Redlands are 2x to 3x the price of a Beaumont or Yucaipa home. If you can afford Redlands move there, I’de avoid the other two. They have a lot of new homes that are nice but those are also the areas that will get pummled with foreclosures. Once that happens those areas will probably start to deteriorate.
ParticipantThe tax rate does blow at most of the newer developments. 1.8% seems to be about average. Stellan Ridge is the lowest I’ve found at 1.05% but the prices of that development start at $870k (down from 1.1M). I like the Bridle Creek homes too but they have not budged on their prices yet (and 1.7% tax on these). I’ve given the sales rep a hard time on a couple of occasions but he insists they are not going top lower the prices. He’s freakin delusional, they have 3 homes from the last phase they’ve been trying to unload since January at $100k off. There’s also one bank repo the I know of in that tract. Those homes sit on min 1-acre lots so I expect them to fetch a premium over homes like the Centex ones. I’ll see how those homes are prices next winter after they’ve been sitting on them for 6 months.
ParticipantIt’s not a poor excuse to say most cities have good and bad areas. Phillips Ranch is nice but it’s part of Pomona. Most of Pomona is way worse than MoVal. I worked in Pomona for a lot of years and most of it’s a gang infested hell hole. Chino Hills also has nice areas but again there are areas in Chino Hills that are ghetto (such as to the North of Los Serranos golf course) or near the 71/60 split. I don’t want to seem like a MoVal advocate but it’s just not that bad and 50+% of the city was built in the last 6 or 7 years and it’s pretty nice.
ParticipantMy mother in law lives there. Like every big city (it’s over 200,000 people) it has nice areas and bad areas. Most of the city is pretty decent but you would not want to go down to the edgemont area at night unless you are looking to buy crack. The sunnymead Ranch area and the Moreno Valley Ranch areas are both very nice areas. The school system there is also varied. There are 3 newer highs schools which are average and 2 older ones that are below average. None of the schools are going to win any awards out there. The town has a few rough areas, but what big town doesn’t. It’s no where near as bad as most of the people that have never been there would have you believe.
ParticipantI your are nearer retirement age and the kids are gone then why are looking at such big homes? Those big homes have big maintenance bills, HUGE electric bills and you gotta clean them suckers!. One other thing about Elsinore is the SMELL from the lake can get pretty freakin bad. Especially when it’s hot and the fish start dying. Only an issue it your near the lake though. I also liked the Lennar homes. They do include some very nice standard stuff. I’ve read some BAD stuff about Lennar though and that makes me sorta hesitant about them. I’de definately hire a good inspector if I was tempted to buy a Lennar home.
ParticipantThe foreclosure rate is off the chart. It seems to be primarily concentrated in pockets of the newer developments. If you drive through tracts that were built in 2002-2006 there are for sale signs everywhere (Who ever makes those signs has got to be making a killing!). Now with the newer homes dropping the prices those sellers are done.
Another tract that had a big price drop was the Bridgeport by KB. Those dropped nearly 20% a few months ago. The tract that I like (Stellan Ridge) has also dropped over $200K in the last few months (started at 1.2M). It’s still way too high though, but then again it’s in the “beverly hills” of Riverside so I’m not holding out much hope of those falling to $500K
ParticipantThese were actually decent homes. Most of the floorplans were well layed out. They were not “high end” but they were not stripped either. They came with granite counters in the kitchen and decent appliances. The cabinets were not too bad looking. I’m sure you could option them up quite a bit but the basic homes were fairly nice. I’m not saying run out and buy one but this clearly shows that the builders are getting the message.
ParticipantThere will be large ripple effects from the real estate/mortgage downturn. The company I worked for in the late 90’s went belly up because of the dotcom bust. We had nothing to do with dotcoms. We made commercial UPS’s and STS’s (big fancy electrical switches). When the dotcoms failed they stopped buying equipment so did many of the banks and investment companies that were expanding because of the dotcom bubble. We saw our biz drop 80% in a year and the company eventually went under. Ripple effect in action!
ParticipantWonder how he will spin this report?
S&P Says Housing Prices Fell by Steepest Rate Since Its Index Was Started in 1987
NEW YORK (AP) — U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor’s began its nationwide housing index in 1987, the group said Tuesday.
The decline in home prices around the nation shows no evidence of a market recovery anytime soon.MacroMarkets LLC Chief Economist Robert Shiller said the declining residential real estate market “shows no signs of slowing down.”
The index tracks the price trends among existing single-family homes across the nation compared with a year earlier .
A separate S&P/Case-Shiller index that covers 20 U.S. cities fell 3.5 percent from a year earlier. A 10-city index fell 4.1 percent from a year earlier.
ParticipantWonder how he will spin this report?
S&P Says Housing Prices Fell by Steepest Rate Since Its Index Was Started in 1987
NEW YORK (AP) — U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor’s began its nationwide housing index in 1987, the group said Tuesday.
The decline in home prices around the nation shows no evidence of a market recovery anytime soon.MacroMarkets LLC Chief Economist Robert Shiller said the declining residential real estate market “shows no signs of slowing down.”
The index tracks the price trends among existing single-family homes across the nation compared with a year earlier .
A separate S&P/Case-Shiller index that covers 20 U.S. cities fell 3.5 percent from a year earlier. A 10-city index fell 4.1 percent from a year earlier.
ParticipantWonder how he will spin this report?
S&P Says Housing Prices Fell by Steepest Rate Since Its Index Was Started in 1987
NEW YORK (AP) — U.S. home prices fell 3.2 percent in the second quarter, the steepest rate of decline since Standard & Poor’s began its nationwide housing index in 1987, the group said Tuesday.
The decline in home prices around the nation shows no evidence of a market recovery anytime soon.MacroMarkets LLC Chief Economist Robert Shiller said the declining residential real estate market “shows no signs of slowing down.”
The index tracks the price trends among existing single-family homes across the nation compared with a year earlier .
A separate S&P/Case-Shiller index that covers 20 U.S. cities fell 3.5 percent from a year earlier. A 10-city index fell 4.1 percent from a year earlier.
ParticipantYea, I thought about the land but there are new developments with 1 acre lots in much nicer areas (mockingbird canyon). Those homes are 3000~4000sq/ft and run about $200sq/ft. This place is a crappy area over near the airport and it’s over $800 sqft.
ParticipantYea, I thought about the land but there are new developments with 1 acre lots in much nicer areas (mockingbird canyon). Those homes are 3000~4000sq/ft and run about $200sq/ft. This place is a crappy area over near the airport and it’s over $800 sqft.
ParticipantYea, I thought about the land but there are new developments with 1 acre lots in much nicer areas (mockingbird canyon). Those homes are 3000~4000sq/ft and run about $200sq/ft. This place is a crappy area over near the airport and it’s over $800 sqft.
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