[temeculaguy]

Regardless if he is successful, I like him. Riding the coat tails of Starbucks and their demographic work is just smart. Also, the phrase “free range pit bulls” is an instant classic and one I will begin using immediately.

[temeculaguy]

Regardless if he is successful, I like him. Riding the coat tails of Starbucks and their demographic work is just smart. Also, the phrase “free range pit bulls” is an instant classic and one I will begin using immediately.

[temeculaguy]

Regardless if he is successful, I like him. Riding the coat tails of Starbucks and their demographic work is just smart. Also, the phrase “free range pit bulls” is an instant classic and one I will begin using immediately.

[temeculaguy]

Regardless if he is successful, I like him. Riding the coat tails of Starbucks and their demographic work is just smart. Also, the phrase “free range pit bulls” is an instant classic and one I will begin using immediately.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

Former San Diegan, none of these are in my rental street but are examples of low GRM (most are shorts). If I post my exact hood I’ll get stalkers. Wait, I want stalkers.

http://www.redfin.com/CA/Temecula/31214-Taylor-Ln-92592/home/6679964

139k, rent is about 1200

http://www.redfin.com/CA/Temecula/33433-Emerson-Way-92592/unit-C/home/6429554

189k, rent is about 1500

http://www.redfin.com/CA/Temecula/31017-El-Osito-Ct-92592/home/6180957

199k, rent about 1600

http://www.redfin.com/CA/Temecula/33599-Winston-Way-92592/unit-B/home/6464457

199k, about 1500 rent

http://www.redfin.com/CA/Temecula/44716-Corte-Gutierrez-92592/home/6247935

199k, about 1700 rent

http://www.redfin.com/CA/Temecula/44551-La-Paz-Rd-92592/home/6188993

99k, maybe 1200 rent but at least 1000

http://www.redfin.com/CA/Temecula/44587-La-Paz-92592/home/6189028

117k, 1000-1200 rent

There are 116 listings today in Temecula for under 200k, Rent is rarely under 1300 for pretty much anything that isn’t a 1br apartment. Cheapest craigslist 2br I found was 1300, some of the same complexes are on craigs for a few hundred over what I quoted as rents, the rents I quoted are a tad low so they wont sit vacant. Too many “investors” paid more than twice these prices and need more so they ask too much IMHO, there are many rentals advertised at 20% more than the cost to buy with 0 down, so I can’t imagine why anyone would rent them. I’ve thought about buying one of these as rentals and would stay on the south side of town, near the casino because there is only 1 apartment complex (1200 for a 2/2) for over 40k people and the casino employs about 4500 people (many renter demographic jobs and jobs with tips that will not be able to buy because stated income is over). I’ve held off because the casino just laid off about 10% of it’s staff and I want to see the effect of that before becoming a landlord. Most of the jobs were created last year when the place doubled and the employees appear to commute in. My theory is that renters would prefer to not commute, there are no apartments zoned, the south side is almost built out and entirely zoned so long term it should be a decent investment at or below 125grm, but I also see the overcorrection and the credit crunch taking prices to 100 grm on a more consistent basis as opposed to the few examples I linked. For every one I linked is an exact one listed for twice that, so these were low price leaders in their category.

[temeculaguy]

paramount, the shorts are getting approved these days up here. There was a thread a few weeks back where the realtors chimed in and I learned that offers on a short are non binding. That lead me to look at a short and the listing agent was very candid. She told me she had two offers on the short, from the conversation I concluded the offers were close to but not quite at the list (which I think is low for that house anyway, but they can’t tell you the specifics). I told her I was unrepresented and would use her so she would get both commisions (advice from waiting hawk, and it works). That opened her up a lot more, according to her she has gotten multiple offers on her shorts but when the BPO and approval is done, the buyers have moved on, many of them are playing the shorts and putting 5 offers just to see what pops. Some listings have ten offers but when it’s showtime, she has one or none left standing there with approval and desire. You could go after that monster for 375-399k and stand a very good chance of getting it. That tract is slipping hard, all those buyers at 750 are folding like lawn chairs, even the small plans are huge and can be had now for mid 3’s. Those are way too big for me but if that’s what you want, it is highly possible to pull one near 300 or one of the 3 story jobs below 400. They do list and go pending quick in that tract so you have to stay on top of it. I missed out on a freaking beauty that had gone for 750k 18 months ago, listed short for 300k, and went pending with multiples by the end of day one. The reality is, someone gets it for 300k, according to the local realtors who are willing to speak candidly, even the screaming deal prices are not bringing in over list prices anymore, the shift started in july. The medium sized homes being listed in the 2’s is starting to pull the rest down with them.

[temeculaguy]

paramount, the shorts are getting approved these days up here. There was a thread a few weeks back where the realtors chimed in and I learned that offers on a short are non binding. That lead me to look at a short and the listing agent was very candid. She told me she had two offers on the short, from the conversation I concluded the offers were close to but not quite at the list (which I think is low for that house anyway, but they can’t tell you the specifics). I told her I was unrepresented and would use her so she would get both commisions (advice from waiting hawk, and it works). That opened her up a lot more, according to her she has gotten multiple offers on her shorts but when the BPO and approval is done, the buyers have moved on, many of them are playing the shorts and putting 5 offers just to see what pops. Some listings have ten offers but when it’s showtime, she has one or none left standing there with approval and desire. You could go after that monster for 375-399k and stand a very good chance of getting it. That tract is slipping hard, all those buyers at 750 are folding like lawn chairs, even the small plans are huge and can be had now for mid 3’s. Those are way too big for me but if that’s what you want, it is highly possible to pull one near 300 or one of the 3 story jobs below 400. They do list and go pending quick in that tract so you have to stay on top of it. I missed out on a freaking beauty that had gone for 750k 18 months ago, listed short for 300k, and went pending with multiples by the end of day one. The reality is, someone gets it for 300k, according to the local realtors who are willing to speak candidly, even the screaming deal prices are not bringing in over list prices anymore, the shift started in july. The medium sized homes being listed in the 2’s is starting to pull the rest down with them.

[temeculaguy]

paramount, the shorts are getting approved these days up here. There was a thread a few weeks back where the realtors chimed in and I learned that offers on a short are non binding. That lead me to look at a short and the listing agent was very candid. She told me she had two offers on the short, from the conversation I concluded the offers were close to but not quite at the list (which I think is low for that house anyway, but they can’t tell you the specifics). I told her I was unrepresented and would use her so she would get both commisions (advice from waiting hawk, and it works). That opened her up a lot more, according to her she has gotten multiple offers on her shorts but when the BPO and approval is done, the buyers have moved on, many of them are playing the shorts and putting 5 offers just to see what pops. Some listings have ten offers but when it’s showtime, she has one or none left standing there with approval and desire. You could go after that monster for 375-399k and stand a very good chance of getting it. That tract is slipping hard, all those buyers at 750 are folding like lawn chairs, even the small plans are huge and can be had now for mid 3’s. Those are way too big for me but if that’s what you want, it is highly possible to pull one near 300 or one of the 3 story jobs below 400. They do list and go pending quick in that tract so you have to stay on top of it. I missed out on a freaking beauty that had gone for 750k 18 months ago, listed short for 300k, and went pending with multiples by the end of day one. The reality is, someone gets it for 300k, according to the local realtors who are willing to speak candidly, even the screaming deal prices are not bringing in over list prices anymore, the shift started in july. The medium sized homes being listed in the 2’s is starting to pull the rest down with them.

[temeculaguy]

paramount, the shorts are getting approved these days up here. There was a thread a few weeks back where the realtors chimed in and I learned that offers on a short are non binding. That lead me to look at a short and the listing agent was very candid. She told me she had two offers on the short, from the conversation I concluded the offers were close to but not quite at the list (which I think is low for that house anyway, but they can’t tell you the specifics). I told her I was unrepresented and would use her so she would get both commisions (advice from waiting hawk, and it works). That opened her up a lot more, according to her she has gotten multiple offers on her shorts but when the BPO and approval is done, the buyers have moved on, many of them are playing the shorts and putting 5 offers just to see what pops. Some listings have ten offers but when it’s showtime, she has one or none left standing there with approval and desire. You could go after that monster for 375-399k and stand a very good chance of getting it. That tract is slipping hard, all those buyers at 750 are folding like lawn chairs, even the small plans are huge and can be had now for mid 3’s. Those are way too big for me but if that’s what you want, it is highly possible to pull one near 300 or one of the 3 story jobs below 400. They do list and go pending quick in that tract so you have to stay on top of it. I missed out on a freaking beauty that had gone for 750k 18 months ago, listed short for 300k, and went pending with multiples by the end of day one. The reality is, someone gets it for 300k, according to the local realtors who are willing to speak candidly, even the screaming deal prices are not bringing in over list prices anymore, the shift started in july. The medium sized homes being listed in the 2’s is starting to pull the rest down with them.

[temeculaguy]

paramount, the shorts are getting approved these days up here. There was a thread a few weeks back where the realtors chimed in and I learned that offers on a short are non binding. That lead me to look at a short and the listing agent was very candid. She told me she had two offers on the short, from the conversation I concluded the offers were close to but not quite at the list (which I think is low for that house anyway, but they can’t tell you the specifics). I told her I was unrepresented and would use her so she would get both commisions (advice from waiting hawk, and it works). That opened her up a lot more, according to her she has gotten multiple offers on her shorts but when the BPO and approval is done, the buyers have moved on, many of them are playing the shorts and putting 5 offers just to see what pops. Some listings have ten offers but when it’s showtime, she has one or none left standing there with approval and desire. You could go after that monster for 375-399k and stand a very good chance of getting it. That tract is slipping hard, all those buyers at 750 are folding like lawn chairs, even the small plans are huge and can be had now for mid 3’s. Those are way too big for me but if that’s what you want, it is highly possible to pull one near 300 or one of the 3 story jobs below 400. They do list and go pending quick in that tract so you have to stay on top of it. I missed out on a freaking beauty that had gone for 750k 18 months ago, listed short for 300k, and went pending with multiples by the end of day one. The reality is, someone gets it for 300k, according to the local realtors who are willing to speak candidly, even the screaming deal prices are not bringing in over list prices anymore, the shift started in july. The medium sized homes being listed in the 2’s is starting to pull the rest down with them.

[temeculaguy]

1600 rent is 200-225k in my book for investment properties here, I suppose that same math would be applied elsewhere but without prop 13 protection I might adjust downward. I feel proud of myself, i guessed 225 without knowing the rent, I’m getting pretty good at this stuff.

I’m sticking with 225k for the sake of the betting pool, that’s where it pencils out as a rental and that is where a renter decides to buy. Curiously, that is what I pay in rent and I can buy my place for 200k. I don’t buy it because it doesn’t fit my long term needs but if it did, I would at those numbers and that is where I think the buyers are valuing things right now. How they relate to rent, as opposed to appreciation because we all know that horse is dead for a while.

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