[newguy]

no problem hawk.

While you’d expect French Valley to drop a lot, you’d be surprised about Harveston (which my opinion would command a higher premium than French Valley for the location). But I’m going to have to hold off telling you guys until some “stuff” happens =)

But I’ll definitely keep you guys posted.

[newguy]

no problem hawk.

While you’d expect French Valley to drop a lot, you’d be surprised about Harveston (which my opinion would command a higher premium than French Valley for the location). But I’m going to have to hold off telling you guys until some “stuff” happens =)

But I’ll definitely keep you guys posted.

[newguy]

Hey everyone,

I just got back from Valdemosa. I was a bit disappointed in the price for the 3586 sq ft homes. According to them, the 453K is a barebone price with no options. However, they aren’t building any with no options. So the lowest price they have on the 3586 s.f. home is 489,990. But they would also help give 15K for closing costs or if you don’t need closing costs, they would just take the 15K off the list price (so you pay lower taxes).

However, they had some new homes that are done building with a lot of options in the house (granite counter tops, fireplaces etc). Those homes are 499,990, but they’ve been sitting there unsold. They’re ready for a 30-day close.

As for the 2675 sf home, it’s really priced at 399,990. But they’re only building one home for a September move in with no options.

All in all, it was a pretty dramatic drop nevertheless. Even from 712K (originally priced with all the options) down to 500K is pretty big. And I’m sure there’s a bit of wiggle room even though they told me the prices were firm (I’m guessing 20K if you pushed for it).

[newguy]

Hey everyone,

I just got back from Valdemosa. I was a bit disappointed in the price for the 3586 sq ft homes. According to them, the 453K is a barebone price with no options. However, they aren’t building any with no options. So the lowest price they have on the 3586 s.f. home is 489,990. But they would also help give 15K for closing costs or if you don’t need closing costs, they would just take the 15K off the list price (so you pay lower taxes).

However, they had some new homes that are done building with a lot of options in the house (granite counter tops, fireplaces etc). Those homes are 499,990, but they’ve been sitting there unsold. They’re ready for a 30-day close.

As for the 2675 sf home, it’s really priced at 399,990. But they’re only building one home for a September move in with no options.

All in all, it was a pretty dramatic drop nevertheless. Even from 712K (originally priced with all the options) down to 500K is pretty big. And I’m sure there’s a bit of wiggle room even though they told me the prices were firm (I’m guessing 20K if you pushed for it).

[newguy]

I love this comment in the article:

“He said the big rise in unsold homes on the market could be an indication that sellers are testing the market in hopes of selling their homes and moving up to larger units, which he said would be a positive early sign of a rebound in housing.”

Yes. That’s why we have so many unsold homes.

[newguy]

I love this comment in the article:

“He said the big rise in unsold homes on the market could be an indication that sellers are testing the market in hopes of selling their homes and moving up to larger units, which he said would be a positive early sign of a rebound in housing.”

Yes. That’s why we have so many unsold homes.

[newguy]

I’m a bit confused. I read the article, and when I looked up the property that sold for $290,000 (with a market value of $420,000) on zillow, it says it was sold on 02/27/2007 for $355,673. Am I missing something?

And also, what are the auctions like in terms of fee’s etc?

[newguy]

I’m a bit confused. I read the article, and when I looked up the property that sold for $290,000 (with a market value of $420,000) on zillow, it says it was sold on 02/27/2007 for $355,673. Am I missing something?

And also, what are the auctions like in terms of fee’s etc?

[newguy]

Hmm…while I agree that going to a bigger house, you get a better “bang for the buck”, I’m a bit hesitant to say it’s due to the lot. I agree that if you build a bigger house on a lot, then that’s more money to spread around the house which will result in a smaller $/sq ft, but that’s if the lot sizes are the same.

The Aberdeen house (last time I looked) that I saw had a lot of about 4300 sq ft for their 2300 sq ft home. At 405K (they were asking at the time 425K with 20K incentives), that’s still $94/sq ft (405K/4300 sq ft). For living space, that’s $176/sq ft.

Whereas the Barrington house, they were asking 455K (465K with 10K incentives) for their 3068 sq ft house on a 5130 sq ft lot. That’s $89/sqft for land and $148/sqft of living space.

Granted, the location is worse in Barrington, so that could be an obvious reason why. Or I can be looking at this whole thing wrong =P Please correct me if my logic is flawed.

As for how big of a house you need, I agree you don’t need the biggest house ever. But it’s nice to have (if you can afford the utilities).

But let’s say there’s a 2300 sq ft house at 400K, a 3000 sq ft house at 435K, and a 3700 sq ft house at 470K. Which would you choose? Let’s assume that the lot sizes are proportional to the house size and they’re in the same location.

[newguy]

Hmm…while I agree that going to a bigger house, you get a better “bang for the buck”, I’m a bit hesitant to say it’s due to the lot. I agree that if you build a bigger house on a lot, then that’s more money to spread around the house which will result in a smaller $/sq ft, but that’s if the lot sizes are the same.

The Aberdeen house (last time I looked) that I saw had a lot of about 4300 sq ft for their 2300 sq ft home. At 405K (they were asking at the time 425K with 20K incentives), that’s still $94/sq ft (405K/4300 sq ft). For living space, that’s $176/sq ft.

Whereas the Barrington house, they were asking 455K (465K with 10K incentives) for their 3068 sq ft house on a 5130 sq ft lot. That’s $89/sqft for land and $148/sqft of living space.

Granted, the location is worse in Barrington, so that could be an obvious reason why. Or I can be looking at this whole thing wrong =P Please correct me if my logic is flawed.

As for how big of a house you need, I agree you don’t need the biggest house ever. But it’s nice to have (if you can afford the utilities).

But let’s say there’s a 2300 sq ft house at 400K, a 3000 sq ft house at 435K, and a 3700 sq ft house at 470K. Which would you choose? Let’s assume that the lot sizes are proportional to the house size and they’re in the same location.

[newguy]

When I went down to Temecula last weekend, Meritage was asking for 425K for their 2334 sq ft home in Aberdeen. That puts it at about $182/sq ft. I’m sure if you pushed, you can get it for lower. I’m not sure about their two bigger homes.

However, Lennar (while the location isn’t as good) were asking for 460K for their 3068 sq ft home (Barrington). That’s about $150/sq ft. That’s significantly lower in terms of $/sq ft.

Also, these homes come with their share of stainless steel appliances, new flooring, and in general, a new home. Granted, you have to put more work into window coverings, but it’s a bonus over buying old homes.

In my opinion, I would prefer Lennar’s homes as it’s farther from the bigger streets and have bigger lots (~5100 sq ft vs ~ 4200 sq ft). You just have to walk a lot farther for the Harveston ammenities (you might even have to drive).

But for me, it’s hard to judge what’s a good price per sq ft for the Harveston area. It’s just so new. It seems like the rest of Temecula was about $120/sq ft back in 2000-2002. And some people here in piggington have been saying it’s been as low as $80-90/sq ft. I’m guessing if the prices were adjusted for inflation (and ignoring the crazy spikes of 2003+), we would be looking at $130-140/sq ft. However, because of the bubble, we’re now looking at $200-225/sq ft.

[newguy]

When I went down to Temecula last weekend, Meritage was asking for 425K for their 2334 sq ft home in Aberdeen. That puts it at about $182/sq ft. I’m sure if you pushed, you can get it for lower. I’m not sure about their two bigger homes.

However, Lennar (while the location isn’t as good) were asking for 460K for their 3068 sq ft home (Barrington). That’s about $150/sq ft. That’s significantly lower in terms of $/sq ft.

Also, these homes come with their share of stainless steel appliances, new flooring, and in general, a new home. Granted, you have to put more work into window coverings, but it’s a bonus over buying old homes.

In my opinion, I would prefer Lennar’s homes as it’s farther from the bigger streets and have bigger lots (~5100 sq ft vs ~ 4200 sq ft). You just have to walk a lot farther for the Harveston ammenities (you might even have to drive).

But for me, it’s hard to judge what’s a good price per sq ft for the Harveston area. It’s just so new. It seems like the rest of Temecula was about $120/sq ft back in 2000-2002. And some people here in piggington have been saying it’s been as low as $80-90/sq ft. I’m guessing if the prices were adjusted for inflation (and ignoring the crazy spikes of 2003+), we would be looking at $130-140/sq ft. However, because of the bubble, we’re now looking at $200-225/sq ft.

[newguy]

23109VC

Thanks for the reply. I agree with DR Horton. The community there isn’t…nice. But for the price, it will probably attract a bit of people to just look at their homes (with their incentives).

Just to clarify, for 300-325, what kind of home are you talking about? 1900 sq ft (3/2.5)? or 2700 sq ft(4/3)? or even 3600 sq ft (5/4)?

I’ve looked at the homes that Lennar are building (Prescott, Barrington, and Emery Place), and they’re asking for a bit less than the Meritage homes. Right now though, people selling their homes are selling 1900-2400 sq ft homes for mid 400’s to low 500’s (off zillow). That’s about $200-225/sq ft. However, Meritage is selling their new homes for about $170-180/sq ft (2300 sq ft for about 400K). I’m thinking to myself, why buy used when I can buy new for cheaper? But I’m starting to think that $170-180/sq ft is still too high, even for a new home (with all the appliances, new flooring etc).

DR Horton is selling their homes for 421K at 3700 sq ft. That’s about $115/sq ft! Granted it’s location isn’t good, but will Harveston see the same $/sq ft? $115/sq ft is getting close to 2001-2002 prices, before the housing market went crazy (unless 2001-2002 was already crazy).

[newguy]

23109VC

Thanks for the reply. I agree with DR Horton. The community there isn’t…nice. But for the price, it will probably attract a bit of people to just look at their homes (with their incentives).

Just to clarify, for 300-325, what kind of home are you talking about? 1900 sq ft (3/2.5)? or 2700 sq ft(4/3)? or even 3600 sq ft (5/4)?

I’ve looked at the homes that Lennar are building (Prescott, Barrington, and Emery Place), and they’re asking for a bit less than the Meritage homes. Right now though, people selling their homes are selling 1900-2400 sq ft homes for mid 400’s to low 500’s (off zillow). That’s about $200-225/sq ft. However, Meritage is selling their new homes for about $170-180/sq ft (2300 sq ft for about 400K). I’m thinking to myself, why buy used when I can buy new for cheaper? But I’m starting to think that $170-180/sq ft is still too high, even for a new home (with all the appliances, new flooring etc).

DR Horton is selling their homes for 421K at 3700 sq ft. That’s about $115/sq ft! Granted it’s location isn’t good, but will Harveston see the same $/sq ft? $115/sq ft is getting close to 2001-2002 prices, before the housing market went crazy (unless 2001-2002 was already crazy).

[newguy]

Hey everyone,

I’ve been a lurker for awhile now. I just wanted to get off what’s on my mind. Maybe you guys can help shed some advice.

I was looking at the Harveston homes. However, I agree with everyone that the homes in Temecula are overpriced. Right now, 1900-2300 sq ft homes in the Harveston area are selling for the high 400-low 500’s (even mid 500’s!). This translates to around $200/sq ft (or even more).

However, the new homes in Harveston are starting to drop in price (there are like 3-4 new developments in Harveston). What would be a good price for new homes in Harveston? I noticed the homes by DR Horton in the Latour/Biarritz are in the outskirts of Murrieta. But I’m guessing from the location of Harveston, that it is better and can charge higher? What I’m trying to get at, is what do you think Harveston homes should go for? (ie a 2400 sq ft, 4 bed 3 bath home…or a 3000 sq ft 4 bed 4 bath home). Or what should it’s price per sq ft be (if that’s easier)?

Thanks for any advice in advance. I’m looking to move into the Temecula area and I really like the Harveston area. Any insight would be greatly appreciated.

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