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temeculaguy
Participantkirsten, what is the rent? I am familiar with those condos by D.R. horton, fair rent is about $1400 to $1500 for one of those. As far as a purchase that you later turn into a rental it isn’t a terrible idea, I just need the numbers in order to give you advice. Condos are easier to be landlords of but at 220 it still is overpriced becaue bigger sfr’s can be had for about that, however they were over 300 a year ago.
One thing to consider is the sheer lack of condos and apartments in the area. Pechanga has over 5,000 employees with mostly “renter” demographics, yet there is only one apartment complex and three condo complexes for miles around so you should always have a decent supply of renters. I would however steer you away from those and over a few miles if a condo is truly what you are looking for, look at this complex. The one i linked I chose because it had the most pictures but there others below 200k and a bunch are being repo’d right now, they were in high 3’s to low 400’s two years ago. The difference between those and dr horton’s is that these are true townhomes, two of the three models per building have backyards and most have a driveway. The dr hortons dont have driveways that friends can park in or you can wash your car in, they have a courtyard and parking in your driveway blocks the other people’s access.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1421330
Participantkirsten, what is the rent? I am familiar with those condos by D.R. horton, fair rent is about $1400 to $1500 for one of those. As far as a purchase that you later turn into a rental it isn’t a terrible idea, I just need the numbers in order to give you advice. Condos are easier to be landlords of but at 220 it still is overpriced becaue bigger sfr’s can be had for about that, however they were over 300 a year ago.
One thing to consider is the sheer lack of condos and apartments in the area. Pechanga has over 5,000 employees with mostly “renter” demographics, yet there is only one apartment complex and three condo complexes for miles around so you should always have a decent supply of renters. I would however steer you away from those and over a few miles if a condo is truly what you are looking for, look at this complex. The one i linked I chose because it had the most pictures but there others below 200k and a bunch are being repo’d right now, they were in high 3’s to low 400’s two years ago. The difference between those and dr horton’s is that these are true townhomes, two of the three models per building have backyards and most have a driveway. The dr hortons dont have driveways that friends can park in or you can wash your car in, they have a courtyard and parking in your driveway blocks the other people’s access.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1421330
Participantkirsten, what is the rent? I am familiar with those condos by D.R. horton, fair rent is about $1400 to $1500 for one of those. As far as a purchase that you later turn into a rental it isn’t a terrible idea, I just need the numbers in order to give you advice. Condos are easier to be landlords of but at 220 it still is overpriced becaue bigger sfr’s can be had for about that, however they were over 300 a year ago.
One thing to consider is the sheer lack of condos and apartments in the area. Pechanga has over 5,000 employees with mostly “renter” demographics, yet there is only one apartment complex and three condo complexes for miles around so you should always have a decent supply of renters. I would however steer you away from those and over a few miles if a condo is truly what you are looking for, look at this complex. The one i linked I chose because it had the most pictures but there others below 200k and a bunch are being repo’d right now, they were in high 3’s to low 400’s two years ago. The difference between those and dr horton’s is that these are true townhomes, two of the three models per building have backyards and most have a driveway. The dr hortons dont have driveways that friends can park in or you can wash your car in, they have a courtyard and parking in your driveway blocks the other people’s access.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1421330
ParticipantI have it too, maybe I should have just said it like you did Enorah, rather than try to pin it on anything or point to any data. Maybe bottom is too strong a word, maybe it’s the data that is causing me to feel it. My zip code will have another 27 trustee sales back to the bank this week and saw another 53 NOD’s, it just feels like the pressure is building and something is about to happen. Or it could be the heat.
ParticipantI have it too, maybe I should have just said it like you did Enorah, rather than try to pin it on anything or point to any data. Maybe bottom is too strong a word, maybe it’s the data that is causing me to feel it. My zip code will have another 27 trustee sales back to the bank this week and saw another 53 NOD’s, it just feels like the pressure is building and something is about to happen. Or it could be the heat.
ParticipantI have it too, maybe I should have just said it like you did Enorah, rather than try to pin it on anything or point to any data. Maybe bottom is too strong a word, maybe it’s the data that is causing me to feel it. My zip code will have another 27 trustee sales back to the bank this week and saw another 53 NOD’s, it just feels like the pressure is building and something is about to happen. Or it could be the heat.
ParticipantI have it too, maybe I should have just said it like you did Enorah, rather than try to pin it on anything or point to any data. Maybe bottom is too strong a word, maybe it’s the data that is causing me to feel it. My zip code will have another 27 trustee sales back to the bank this week and saw another 53 NOD’s, it just feels like the pressure is building and something is about to happen. Or it could be the heat.
ParticipantI have it too, maybe I should have just said it like you did Enorah, rather than try to pin it on anything or point to any data. Maybe bottom is too strong a word, maybe it’s the data that is causing me to feel it. My zip code will have another 27 trustee sales back to the bank this week and saw another 53 NOD’s, it just feels like the pressure is building and something is about to happen. Or it could be the heat.
ParticipantNo need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.
I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.
Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.
ParticipantNo need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.
I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.
Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.
ParticipantNo need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.
I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.
Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.
ParticipantNo need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.
I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.
Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.
ParticipantNo need for arguing but larry has a point. If there was ever a poster child for the bubble, it is 1.7 million for that house. And if there ever was a reason to think that 40% off is nothing more than the tip of the iceburg, it is that house at 1.1 mil. 20 years ago that would be nothing more than a surfer/stoner flop house and today it is a flip that someone painted and called it a luxury pad worth millions but they didn’t even paint it.
I wouldn’t pay 500k for it and I wouldn’t pay over 2k to rent it and you know my standards aren’t too high, I live in Temecula. There is a freakin power pole blocking the view and one in the back yard!!!! Even if it came with a stripper to dance on the pole, sorry, no sale, well, maybe. Real estate is part emotion, but if the house makes me wish for a stucco box in the desert, it does not merit seven digits and it never should have.
Still, Asia, it is a good find for it’s mathematical significance as to the cracks in the high end.
ParticipantScrew sleep, cash, check the location on zillow, the highest number on coronado is 44011 and the Ynez addresses are in the 29000’s so I can’t figure out which house it is, if you look at the map maybe you can figure out which one it is. My insight, I love that area, I love looking at that is, taking care of acerage is not my thing. It’s not close to where the hospital is going and it’s far enough from the freeway but if all things were equal I wouldn’t pick one that faces Ynez, it’s busy now, when the hospital goes in on that street it can only get worse, try for something a few blocks off ynez, but either way those are sweet.
This one is close to what you descriped location wise
http://www.redfin.com/stingray/do/printable-listing?listing-id=1614804
It’s one of the more plain houses in the neighborhood but it is sub 2003 pricing.
But it is one of the cheapest in the hood, go about three houses back and they look like this
http://www.redfin.com/stingray/do/printable-listing?listing-id=1595421
http://www.redfin.com/stingray/do/printable-listing?listing-id=1403179
This is about the cheapest one around and still 2.5 acres, but your pad will look like the grounskeeper’s house compared to the neighbors. That’s not gonna get you chicks.
http://www.redfin.com/stingray/do/printable-listing?listing-id=1382292
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