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June 3, 2007 at 8:43 PM in reply to: So I pulled the trigger: My buying experience in Temecula (long story) #56286June 3, 2007 at 8:43 PM in reply to: So I pulled the trigger: My buying experience in Temecula (long story) #56265
jan777
ParticipantMy husband and I have been looking to purchase since january. We started out by looking at bank-owned homes but the prices were not any better. About a month ago we were out driving around looking at homes for sale and drove past a KB development. We decided to stop and just look at the model homes. Well to make a long story short we ended up buying a new home with kb. We got a 3700 sq ft home with 94,000 worth of upgrades for $582,000. Also, kb is paying our closing cost and realtor fees. These homes were originally starting in the high 600’s starting with the 3,000 sq ft single story. KB had issues with getting permits that put the project on hold for about a year and most people cancelled their contracts. Then the market tanked and now they’re just trying to get this development sold. The house we bought came with the upgrades and we were not able to change anything. However, when we went to the kb showroom to see what the house came with we were very pleased. Very nice uprades, and a kitchen to die for.
When we went to the showroom we met with the gal who originally spec’ed this house with the previous owners. She told us that some of the homes in this community were originally going for in the 800’s with upgrades.
Overall, we also are very please with our new home and anyone who is in the market due your due diligence, be patient, drive around, ask for a better price.
ParticipantI believe here in Ca you have 4 or 5 years to pay your property taxes before it goes to a tax sale. Some people defer paying taxes and invest that money. So if a person invests that money and can make 6% interest or better for a few years then pay their taxes and take a 4% hit for a penalty they have come out ahead.
ParticipantI believe here in Ca you have 4 or 5 years to pay your property taxes before it goes to a tax sale. Some people defer paying taxes and invest that money. So if a person invests that money and can make 6% interest or better for a few years then pay their taxes and take a 4% hit for a penalty they have come out ahead.
ParticipantI live in Corona and we have hundreds of bank owned homes for sale. It has been painful to watch the market here. Some of the banks are finally getting a reality check and have started lowering their prices. I have even seen some bank owned homes now with $150,000-200,000 drop in prices since they went on the market.
I have been in the market since January to purchase a home. While driving by looking at bank owned homes I happen to come across a KB development in South Corona. We stopped just to look at the models and my husband and I ended up purchasing a 3700 sq ft. home with $94,000 of upgrades for $582,000. KB is paying $10,000 closing cost and a 3% commission to our realtor. (We came back the next day with our realtor and bought)
There are only 30 homes in this development and KB (for some insane reason) is not advertising this development. Apparently, the homes were previously sold but KB had major problems with permits and some other problem that most people couldn’t wait and ended up cancelling. Now they have these homes that are almost built with all upgrades that were chosen by the previous owners. We were not able to change anything. But I am not complaining. I love the upgrades.
We bought mainly for investment purposes. We were looking to upgrade from a 1700 sq ft. house to something a little larger around 2500-3000 but nothing that we looked at including the bank-owned homes came close to what we bought with the KB home.
For those in the market do your due diligence, be patient, drive around the deals are out there.
ParticipantI live in Corona and we have hundreds of bank owned homes for sale. It has been painful to watch the market here. Some of the banks are finally getting a reality check and have started lowering their prices. I have even seen some bank owned homes now with $150,000-200,000 drop in prices since they went on the market.
I have been in the market since January to purchase a home. While driving by looking at bank owned homes I happen to come across a KB development in South Corona. We stopped just to look at the models and my husband and I ended up purchasing a 3700 sq ft. home with $94,000 of upgrades for $582,000. KB is paying $10,000 closing cost and a 3% commission to our realtor. (We came back the next day with our realtor and bought)
There are only 30 homes in this development and KB (for some insane reason) is not advertising this development. Apparently, the homes were previously sold but KB had major problems with permits and some other problem that most people couldn’t wait and ended up cancelling. Now they have these homes that are almost built with all upgrades that were chosen by the previous owners. We were not able to change anything. But I am not complaining. I love the upgrades.
We bought mainly for investment purposes. We were looking to upgrade from a 1700 sq ft. house to something a little larger around 2500-3000 but nothing that we looked at including the bank-owned homes came close to what we bought with the KB home.
For those in the market do your due diligence, be patient, drive around the deals are out there.
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