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socratttParticipant
After reading all these posts I am wondering if any people are actually following the current market in Temecula and Murrieta. I live in coastal SD and I am spending plenty of time in Tem/Mur, you may ask why. I spent some adolescent years in the area and then moved down to SD for college eventually getting involved in larger scale ag development.
Tem/Mur currently have a lot of opportunity, but the places I worry about are areas such as French Valley and beyond (I am also a bit concerned of the areas north of Clinton Keith on both the 215 and 15 freeways). These areas are extremely overbuilt with what seems to be a far fetched idea of larger commercial development. That said I don’t see it impossible for these areas to sustain.
I spent time in Murrieta during the late 80’s and early 90’s when the real estate market really struggled. Yes, at that point Tem/Mur was not overbuilt (relatively speaking), but homes priced right always seemed to have a buyer. I am seeing a similar situation right now. Sure you can buy a home at $60-$70 sqft for homes over 3,000 sqft, but investors are everywhere and I am one of them. My guess is the mass amounts of foreclosures will be picked up very soon due to money being quite cheap. I think the rates will start moving north shortly and if investors can buy a home at a fair rate and cash flow, why wouldn’t the average investor want 9-10% (on the safe side, I believe you can do better than that) on their money.
I believe as in any other city there will be good and bad areas and Tem/Mur may have more defined ghettos as you say, but the truth is with such a large population it would be almost impossible for this city not to sustain even in this horrible market.
And the poster who compared Valencia to Temecula, you are right on. They are very similar, both about 1 hour to a downtown and both largely family oriented communities. I have always used both these cities as a comparison because they are almost mirror images of each other. Both are approximately 35-40 minutes to the beach as well, although San Diego beaches are much more appealing to me.
These cities will struggle a bit here in the next couple of years, but they will prevail. With the size of Tem/Mur I assume it will be a matter of a few years before Southwest starts flying into French Valley. You all may want to keep your eyes on the commercial market as well!!
socratttParticipantAfter reading all these posts I am wondering if any people are actually following the current market in Temecula and Murrieta. I live in coastal SD and I am spending plenty of time in Tem/Mur, you may ask why. I spent some adolescent years in the area and then moved down to SD for college eventually getting involved in larger scale ag development.
Tem/Mur currently have a lot of opportunity, but the places I worry about are areas such as French Valley and beyond (I am also a bit concerned of the areas north of Clinton Keith on both the 215 and 15 freeways). These areas are extremely overbuilt with what seems to be a far fetched idea of larger commercial development. That said I don’t see it impossible for these areas to sustain.
I spent time in Murrieta during the late 80’s and early 90’s when the real estate market really struggled. Yes, at that point Tem/Mur was not overbuilt (relatively speaking), but homes priced right always seemed to have a buyer. I am seeing a similar situation right now. Sure you can buy a home at $60-$70 sqft for homes over 3,000 sqft, but investors are everywhere and I am one of them. My guess is the mass amounts of foreclosures will be picked up very soon due to money being quite cheap. I think the rates will start moving north shortly and if investors can buy a home at a fair rate and cash flow, why wouldn’t the average investor want 9-10% (on the safe side, I believe you can do better than that) on their money.
I believe as in any other city there will be good and bad areas and Tem/Mur may have more defined ghettos as you say, but the truth is with such a large population it would be almost impossible for this city not to sustain even in this horrible market.
And the poster who compared Valencia to Temecula, you are right on. They are very similar, both about 1 hour to a downtown and both largely family oriented communities. I have always used both these cities as a comparison because they are almost mirror images of each other. Both are approximately 35-40 minutes to the beach as well, although San Diego beaches are much more appealing to me.
These cities will struggle a bit here in the next couple of years, but they will prevail. With the size of Tem/Mur I assume it will be a matter of a few years before Southwest starts flying into French Valley. You all may want to keep your eyes on the commercial market as well!!
socratttParticipantAfter reading all these posts I am wondering if any people are actually following the current market in Temecula and Murrieta. I live in coastal SD and I am spending plenty of time in Tem/Mur, you may ask why. I spent some adolescent years in the area and then moved down to SD for college eventually getting involved in larger scale ag development.
Tem/Mur currently have a lot of opportunity, but the places I worry about are areas such as French Valley and beyond (I am also a bit concerned of the areas north of Clinton Keith on both the 215 and 15 freeways). These areas are extremely overbuilt with what seems to be a far fetched idea of larger commercial development. That said I don’t see it impossible for these areas to sustain.
I spent time in Murrieta during the late 80’s and early 90’s when the real estate market really struggled. Yes, at that point Tem/Mur was not overbuilt (relatively speaking), but homes priced right always seemed to have a buyer. I am seeing a similar situation right now. Sure you can buy a home at $60-$70 sqft for homes over 3,000 sqft, but investors are everywhere and I am one of them. My guess is the mass amounts of foreclosures will be picked up very soon due to money being quite cheap. I think the rates will start moving north shortly and if investors can buy a home at a fair rate and cash flow, why wouldn’t the average investor want 9-10% (on the safe side, I believe you can do better than that) on their money.
I believe as in any other city there will be good and bad areas and Tem/Mur may have more defined ghettos as you say, but the truth is with such a large population it would be almost impossible for this city not to sustain even in this horrible market.
And the poster who compared Valencia to Temecula, you are right on. They are very similar, both about 1 hour to a downtown and both largely family oriented communities. I have always used both these cities as a comparison because they are almost mirror images of each other. Both are approximately 35-40 minutes to the beach as well, although San Diego beaches are much more appealing to me.
These cities will struggle a bit here in the next couple of years, but they will prevail. With the size of Tem/Mur I assume it will be a matter of a few years before Southwest starts flying into French Valley. You all may want to keep your eyes on the commercial market as well!!
socratttParticipantAfter reading all these posts I am wondering if any people are actually following the current market in Temecula and Murrieta. I live in coastal SD and I am spending plenty of time in Tem/Mur, you may ask why. I spent some adolescent years in the area and then moved down to SD for college eventually getting involved in larger scale ag development.
Tem/Mur currently have a lot of opportunity, but the places I worry about are areas such as French Valley and beyond (I am also a bit concerned of the areas north of Clinton Keith on both the 215 and 15 freeways). These areas are extremely overbuilt with what seems to be a far fetched idea of larger commercial development. That said I don’t see it impossible for these areas to sustain.
I spent time in Murrieta during the late 80’s and early 90’s when the real estate market really struggled. Yes, at that point Tem/Mur was not overbuilt (relatively speaking), but homes priced right always seemed to have a buyer. I am seeing a similar situation right now. Sure you can buy a home at $60-$70 sqft for homes over 3,000 sqft, but investors are everywhere and I am one of them. My guess is the mass amounts of foreclosures will be picked up very soon due to money being quite cheap. I think the rates will start moving north shortly and if investors can buy a home at a fair rate and cash flow, why wouldn’t the average investor want 9-10% (on the safe side, I believe you can do better than that) on their money.
I believe as in any other city there will be good and bad areas and Tem/Mur may have more defined ghettos as you say, but the truth is with such a large population it would be almost impossible for this city not to sustain even in this horrible market.
And the poster who compared Valencia to Temecula, you are right on. They are very similar, both about 1 hour to a downtown and both largely family oriented communities. I have always used both these cities as a comparison because they are almost mirror images of each other. Both are approximately 35-40 minutes to the beach as well, although San Diego beaches are much more appealing to me.
These cities will struggle a bit here in the next couple of years, but they will prevail. With the size of Tem/Mur I assume it will be a matter of a few years before Southwest starts flying into French Valley. You all may want to keep your eyes on the commercial market as well!!
socratttParticipantThere are still a number of current buyers out there that are going to get burned by this market. You would think the simple prediction of the interest rates rising to curb inflation would keep many buyers from purchasing in this market. I agree that many people can still afford to purchase a home and maybe everyone does not have the same idea that a home purchase is an investment. I personally believe this next year is going to get nasty with all the negative news still yet to affect the market.
Buying a flipper is a very speculative move in this market because when those rates start moving over 7% and 8% we will really start seeing a stagnate market. We are in the age of the paid programs and million dollar dreams. Everyone thinks they are more educated about RE purchases than ever before. The educated investor only knows what they have seen, but fear the unknown. The truth is no one has witnessed what will occur when this market really crashes and it is coming soon.
socratttParticipantThere are still a number of current buyers out there that are going to get burned by this market. You would think the simple prediction of the interest rates rising to curb inflation would keep many buyers from purchasing in this market. I agree that many people can still afford to purchase a home and maybe everyone does not have the same idea that a home purchase is an investment. I personally believe this next year is going to get nasty with all the negative news still yet to affect the market.
Buying a flipper is a very speculative move in this market because when those rates start moving over 7% and 8% we will really start seeing a stagnate market. We are in the age of the paid programs and million dollar dreams. Everyone thinks they are more educated about RE purchases than ever before. The educated investor only knows what they have seen, but fear the unknown. The truth is no one has witnessed what will occur when this market really crashes and it is coming soon.
socratttParticipantThere are still a number of current buyers out there that are going to get burned by this market. You would think the simple prediction of the interest rates rising to curb inflation would keep many buyers from purchasing in this market. I agree that many people can still afford to purchase a home and maybe everyone does not have the same idea that a home purchase is an investment. I personally believe this next year is going to get nasty with all the negative news still yet to affect the market.
Buying a flipper is a very speculative move in this market because when those rates start moving over 7% and 8% we will really start seeing a stagnate market. We are in the age of the paid programs and million dollar dreams. Everyone thinks they are more educated about RE purchases than ever before. The educated investor only knows what they have seen, but fear the unknown. The truth is no one has witnessed what will occur when this market really crashes and it is coming soon.
socratttParticipantThere are still a number of current buyers out there that are going to get burned by this market. You would think the simple prediction of the interest rates rising to curb inflation would keep many buyers from purchasing in this market. I agree that many people can still afford to purchase a home and maybe everyone does not have the same idea that a home purchase is an investment. I personally believe this next year is going to get nasty with all the negative news still yet to affect the market.
Buying a flipper is a very speculative move in this market because when those rates start moving over 7% and 8% we will really start seeing a stagnate market. We are in the age of the paid programs and million dollar dreams. Everyone thinks they are more educated about RE purchases than ever before. The educated investor only knows what they have seen, but fear the unknown. The truth is no one has witnessed what will occur when this market really crashes and it is coming soon.
socratttParticipantThere are still a number of current buyers out there that are going to get burned by this market. You would think the simple prediction of the interest rates rising to curb inflation would keep many buyers from purchasing in this market. I agree that many people can still afford to purchase a home and maybe everyone does not have the same idea that a home purchase is an investment. I personally believe this next year is going to get nasty with all the negative news still yet to affect the market.
Buying a flipper is a very speculative move in this market because when those rates start moving over 7% and 8% we will really start seeing a stagnate market. We are in the age of the paid programs and million dollar dreams. Everyone thinks they are more educated about RE purchases than ever before. The educated investor only knows what they have seen, but fear the unknown. The truth is no one has witnessed what will occur when this market really crashes and it is coming soon.
socratttParticipantThank you all for your advice. I guess the question is can a home built an area like Temecula continue to fall much below the costs of building? Lets be honest our boy Greenspan really blew it and now we are going to be in some interesting times with inflation. I am definitely not an economist, but I could potentially see our prime rate hit 12 or 13% on the low end of the spectrum much sooner than we all expect. With that said inflation will continue to rise and a homes would seem to be somewhat of a safe haven at a $/sqft that is much below building costs. There are homes in Temecula, built by decent builders that can be picked up for $60/sqft., which sounds incredible.
Then the other side of the coin is what happens to a town like Temecula or Murrieta that is so over built yet has had such a healthy infastructure in the past? Can that town withstand thousands of homes being vacant without the crime rate escalating and other serious problems occurring?
As far as coastal properties, I completely agree it is a luxury, yet the coastal market west of the 5 really hasn’t received the beating I expected.
My mindset is in a position where if real estate truly does fail us and homes do start selling for $20-$30/sqft or less, our country will really be in a bad position. I believe we are in trouble regardless of which shady politician takes over the helm, but if we are all this pesimistic about any investment we should all be thinking of another country to live in the near future. There is no possible way this country could deal with such a catastrophe where real estate and stocks are virtually worthless, which seems to be the idea with many people. Just my humble opinion.
socratttParticipantThank you all for your advice. I guess the question is can a home built an area like Temecula continue to fall much below the costs of building? Lets be honest our boy Greenspan really blew it and now we are going to be in some interesting times with inflation. I am definitely not an economist, but I could potentially see our prime rate hit 12 or 13% on the low end of the spectrum much sooner than we all expect. With that said inflation will continue to rise and a homes would seem to be somewhat of a safe haven at a $/sqft that is much below building costs. There are homes in Temecula, built by decent builders that can be picked up for $60/sqft., which sounds incredible.
Then the other side of the coin is what happens to a town like Temecula or Murrieta that is so over built yet has had such a healthy infastructure in the past? Can that town withstand thousands of homes being vacant without the crime rate escalating and other serious problems occurring?
As far as coastal properties, I completely agree it is a luxury, yet the coastal market west of the 5 really hasn’t received the beating I expected.
My mindset is in a position where if real estate truly does fail us and homes do start selling for $20-$30/sqft or less, our country will really be in a bad position. I believe we are in trouble regardless of which shady politician takes over the helm, but if we are all this pesimistic about any investment we should all be thinking of another country to live in the near future. There is no possible way this country could deal with such a catastrophe where real estate and stocks are virtually worthless, which seems to be the idea with many people. Just my humble opinion.
socratttParticipantThank you all for your advice. I guess the question is can a home built an area like Temecula continue to fall much below the costs of building? Lets be honest our boy Greenspan really blew it and now we are going to be in some interesting times with inflation. I am definitely not an economist, but I could potentially see our prime rate hit 12 or 13% on the low end of the spectrum much sooner than we all expect. With that said inflation will continue to rise and a homes would seem to be somewhat of a safe haven at a $/sqft that is much below building costs. There are homes in Temecula, built by decent builders that can be picked up for $60/sqft., which sounds incredible.
Then the other side of the coin is what happens to a town like Temecula or Murrieta that is so over built yet has had such a healthy infastructure in the past? Can that town withstand thousands of homes being vacant without the crime rate escalating and other serious problems occurring?
As far as coastal properties, I completely agree it is a luxury, yet the coastal market west of the 5 really hasn’t received the beating I expected.
My mindset is in a position where if real estate truly does fail us and homes do start selling for $20-$30/sqft or less, our country will really be in a bad position. I believe we are in trouble regardless of which shady politician takes over the helm, but if we are all this pesimistic about any investment we should all be thinking of another country to live in the near future. There is no possible way this country could deal with such a catastrophe where real estate and stocks are virtually worthless, which seems to be the idea with many people. Just my humble opinion.
socratttParticipantThank you all for your advice. I guess the question is can a home built an area like Temecula continue to fall much below the costs of building? Lets be honest our boy Greenspan really blew it and now we are going to be in some interesting times with inflation. I am definitely not an economist, but I could potentially see our prime rate hit 12 or 13% on the low end of the spectrum much sooner than we all expect. With that said inflation will continue to rise and a homes would seem to be somewhat of a safe haven at a $/sqft that is much below building costs. There are homes in Temecula, built by decent builders that can be picked up for $60/sqft., which sounds incredible.
Then the other side of the coin is what happens to a town like Temecula or Murrieta that is so over built yet has had such a healthy infastructure in the past? Can that town withstand thousands of homes being vacant without the crime rate escalating and other serious problems occurring?
As far as coastal properties, I completely agree it is a luxury, yet the coastal market west of the 5 really hasn’t received the beating I expected.
My mindset is in a position where if real estate truly does fail us and homes do start selling for $20-$30/sqft or less, our country will really be in a bad position. I believe we are in trouble regardless of which shady politician takes over the helm, but if we are all this pesimistic about any investment we should all be thinking of another country to live in the near future. There is no possible way this country could deal with such a catastrophe where real estate and stocks are virtually worthless, which seems to be the idea with many people. Just my humble opinion.
socratttParticipantThank you all for your advice. I guess the question is can a home built an area like Temecula continue to fall much below the costs of building? Lets be honest our boy Greenspan really blew it and now we are going to be in some interesting times with inflation. I am definitely not an economist, but I could potentially see our prime rate hit 12 or 13% on the low end of the spectrum much sooner than we all expect. With that said inflation will continue to rise and a homes would seem to be somewhat of a safe haven at a $/sqft that is much below building costs. There are homes in Temecula, built by decent builders that can be picked up for $60/sqft., which sounds incredible.
Then the other side of the coin is what happens to a town like Temecula or Murrieta that is so over built yet has had such a healthy infastructure in the past? Can that town withstand thousands of homes being vacant without the crime rate escalating and other serious problems occurring?
As far as coastal properties, I completely agree it is a luxury, yet the coastal market west of the 5 really hasn’t received the beating I expected.
My mindset is in a position where if real estate truly does fail us and homes do start selling for $20-$30/sqft or less, our country will really be in a bad position. I believe we are in trouble regardless of which shady politician takes over the helm, but if we are all this pesimistic about any investment we should all be thinking of another country to live in the near future. There is no possible way this country could deal with such a catastrophe where real estate and stocks are virtually worthless, which seems to be the idea with many people. Just my humble opinion.
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