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mydogsarelazy
ParticipantHi Piggs,
Just thought I would chime in once more, having been called Pollyanna.
My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.
The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.
Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.
JS
ParticipantHi Piggs,
Just thought I would chime in once more, having been called Pollyanna.
My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.
The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.
Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.
JS
ParticipantHi Piggs,
Just thought I would chime in once more, having been called Pollyanna.
My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.
The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.
Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.
JS
ParticipantHi Piggs,
Just thought I would chime in once more, having been called Pollyanna.
My main point is that where I live a large group of the new buyers of 2004-6 have washed out. On my cul-de-sac, which has 14 homes, only 4 homes, including mine, are still owned by their initial buyers.
The “second wave” of buyers have to cope with whatever problems are ahead for the economy, and I personally do think prices will still go lower. Still these are families that have gotten good interest rates, and who have paid half of what peak buyers paid. Keep in mind also that Temecula/Murrieta does have a smattering of retired people and recent cash buyers who came from more expensive areas.
Don’t get me wrong: California is a mess, but I stand by my point that this area has seen the worst.
JS
ParticipantHi JACKQLYN,
We live on a cul-de-sac in a new development in Murrieta. We put a deposit on our house in 2003, moved in to the house in 2004, and have lived here since.
Here is my “report.” Basically, our neighborhood was hit hard and early by the popping of the real estate bubble. On our street 3/4 of the homes have turned over in some fashion — going through foreclosure, short sales etc — since 2006. The homes, which originally sold in the high $300k to mid $400k range are now worth about 2/3 of what they sold for new.
The interesting part is that the neighborhood seems quite stable. It is largely owned by people who bought the second time around and who can afford their payments. Nearly all the lawns are green and that certainly wasn’t the case last year. Very few homes are for sale.
I have been told that in the past few months homes in Temecula and Murrieta, especially those around $250k have sold very well, with multiple bids in most sales.
Sure, there may be a few more homes that will appear on the market, but the worst is over here. Families like this area and can afford it. Now what we have to deal with is the fact that the schools are strapped and will be cutting back dramatically. Still, there are many reasons for families to like this area, and those who don’t have ruined credit can afford it.
Hope you have found my perspective helpful,
JS
ParticipantHi JACKQLYN,
We live on a cul-de-sac in a new development in Murrieta. We put a deposit on our house in 2003, moved in to the house in 2004, and have lived here since.
Here is my “report.” Basically, our neighborhood was hit hard and early by the popping of the real estate bubble. On our street 3/4 of the homes have turned over in some fashion — going through foreclosure, short sales etc — since 2006. The homes, which originally sold in the high $300k to mid $400k range are now worth about 2/3 of what they sold for new.
The interesting part is that the neighborhood seems quite stable. It is largely owned by people who bought the second time around and who can afford their payments. Nearly all the lawns are green and that certainly wasn’t the case last year. Very few homes are for sale.
I have been told that in the past few months homes in Temecula and Murrieta, especially those around $250k have sold very well, with multiple bids in most sales.
Sure, there may be a few more homes that will appear on the market, but the worst is over here. Families like this area and can afford it. Now what we have to deal with is the fact that the schools are strapped and will be cutting back dramatically. Still, there are many reasons for families to like this area, and those who don’t have ruined credit can afford it.
Hope you have found my perspective helpful,
JS
ParticipantHi JACKQLYN,
We live on a cul-de-sac in a new development in Murrieta. We put a deposit on our house in 2003, moved in to the house in 2004, and have lived here since.
Here is my “report.” Basically, our neighborhood was hit hard and early by the popping of the real estate bubble. On our street 3/4 of the homes have turned over in some fashion — going through foreclosure, short sales etc — since 2006. The homes, which originally sold in the high $300k to mid $400k range are now worth about 2/3 of what they sold for new.
The interesting part is that the neighborhood seems quite stable. It is largely owned by people who bought the second time around and who can afford their payments. Nearly all the lawns are green and that certainly wasn’t the case last year. Very few homes are for sale.
I have been told that in the past few months homes in Temecula and Murrieta, especially those around $250k have sold very well, with multiple bids in most sales.
Sure, there may be a few more homes that will appear on the market, but the worst is over here. Families like this area and can afford it. Now what we have to deal with is the fact that the schools are strapped and will be cutting back dramatically. Still, there are many reasons for families to like this area, and those who don’t have ruined credit can afford it.
Hope you have found my perspective helpful,
JS
ParticipantHi JACKQLYN,
We live on a cul-de-sac in a new development in Murrieta. We put a deposit on our house in 2003, moved in to the house in 2004, and have lived here since.
Here is my “report.” Basically, our neighborhood was hit hard and early by the popping of the real estate bubble. On our street 3/4 of the homes have turned over in some fashion — going through foreclosure, short sales etc — since 2006. The homes, which originally sold in the high $300k to mid $400k range are now worth about 2/3 of what they sold for new.
The interesting part is that the neighborhood seems quite stable. It is largely owned by people who bought the second time around and who can afford their payments. Nearly all the lawns are green and that certainly wasn’t the case last year. Very few homes are for sale.
I have been told that in the past few months homes in Temecula and Murrieta, especially those around $250k have sold very well, with multiple bids in most sales.
Sure, there may be a few more homes that will appear on the market, but the worst is over here. Families like this area and can afford it. Now what we have to deal with is the fact that the schools are strapped and will be cutting back dramatically. Still, there are many reasons for families to like this area, and those who don’t have ruined credit can afford it.
Hope you have found my perspective helpful,
JS
ParticipantHi JACKQLYN,
We live on a cul-de-sac in a new development in Murrieta. We put a deposit on our house in 2003, moved in to the house in 2004, and have lived here since.
Here is my “report.” Basically, our neighborhood was hit hard and early by the popping of the real estate bubble. On our street 3/4 of the homes have turned over in some fashion — going through foreclosure, short sales etc — since 2006. The homes, which originally sold in the high $300k to mid $400k range are now worth about 2/3 of what they sold for new.
The interesting part is that the neighborhood seems quite stable. It is largely owned by people who bought the second time around and who can afford their payments. Nearly all the lawns are green and that certainly wasn’t the case last year. Very few homes are for sale.
I have been told that in the past few months homes in Temecula and Murrieta, especially those around $250k have sold very well, with multiple bids in most sales.
Sure, there may be a few more homes that will appear on the market, but the worst is over here. Families like this area and can afford it. Now what we have to deal with is the fact that the schools are strapped and will be cutting back dramatically. Still, there are many reasons for families to like this area, and those who don’t have ruined credit can afford it.
Hope you have found my perspective helpful,
JS
March 28, 2010 at 2:53 PM in reply to: Mortgage delinquencies rise to nearly 14 percent – Shadow inventory bottleneck #532640ParticipantLower home prices are on the way…
March 28, 2010 at 2:53 PM in reply to: Mortgage delinquencies rise to nearly 14 percent – Shadow inventory bottleneck #532767ParticipantLower home prices are on the way…
March 28, 2010 at 2:53 PM in reply to: Mortgage delinquencies rise to nearly 14 percent – Shadow inventory bottleneck #533218ParticipantLower home prices are on the way…
March 28, 2010 at 2:53 PM in reply to: Mortgage delinquencies rise to nearly 14 percent – Shadow inventory bottleneck #533315ParticipantLower home prices are on the way…
March 28, 2010 at 2:53 PM in reply to: Mortgage delinquencies rise to nearly 14 percent – Shadow inventory bottleneck #533574ParticipantLower home prices are on the way…
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