[temeculaguy]

You are right Pizza, It’s like watching the radar on the weather channel. I see examples up North like this one in Elsinore for half price in two years and then see them get to North Murrieta. It’s contained to the high 3000 and low 4000 sq ft to see those ppsf, but that will trickle down into the 2000 sq foot range.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364460

The paradox is the high rents, there are so many vacants that the available housing is under utilized. I’m looking at rents and there isn’t anything desirable over 1500 sq ft for $1500 South of the 79. There are a bazillion places for 2000-2500 because that is what they need as lanlords to survive because they owe 500k+, investors are just not buying the repos and turning them into rentals. I want to wait for the sub $100 a square to hit but I think rent while I wait will cost more than buying.

[temeculaguy]

You are right Pizza, It’s like watching the radar on the weather channel. I see examples up North like this one in Elsinore for half price in two years and then see them get to North Murrieta. It’s contained to the high 3000 and low 4000 sq ft to see those ppsf, but that will trickle down into the 2000 sq foot range.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364460

The paradox is the high rents, there are so many vacants that the available housing is under utilized. I’m looking at rents and there isn’t anything desirable over 1500 sq ft for $1500 South of the 79. There are a bazillion places for 2000-2500 because that is what they need as lanlords to survive because they owe 500k+, investors are just not buying the repos and turning them into rentals. I want to wait for the sub $100 a square to hit but I think rent while I wait will cost more than buying.

[temeculaguy]

You are right Pizza, It’s like watching the radar on the weather channel. I see examples up North like this one in Elsinore for half price in two years and then see them get to North Murrieta. It’s contained to the high 3000 and low 4000 sq ft to see those ppsf, but that will trickle down into the 2000 sq foot range.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364460

The paradox is the high rents, there are so many vacants that the available housing is under utilized. I’m looking at rents and there isn’t anything desirable over 1500 sq ft for $1500 South of the 79. There are a bazillion places for 2000-2500 because that is what they need as lanlords to survive because they owe 500k+, investors are just not buying the repos and turning them into rentals. I want to wait for the sub $100 a square to hit but I think rent while I wait will cost more than buying.

[temeculaguy]

You are right Pizza, It’s like watching the radar on the weather channel. I see examples up North like this one in Elsinore for half price in two years and then see them get to North Murrieta. It’s contained to the high 3000 and low 4000 sq ft to see those ppsf, but that will trickle down into the 2000 sq foot range.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364460

The paradox is the high rents, there are so many vacants that the available housing is under utilized. I’m looking at rents and there isn’t anything desirable over 1500 sq ft for $1500 South of the 79. There are a bazillion places for 2000-2500 because that is what they need as lanlords to survive because they owe 500k+, investors are just not buying the repos and turning them into rentals. I want to wait for the sub $100 a square to hit but I think rent while I wait will cost more than buying.

[temeculaguy]

You are right Pizza, It’s like watching the radar on the weather channel. I see examples up North like this one in Elsinore for half price in two years and then see them get to North Murrieta. It’s contained to the high 3000 and low 4000 sq ft to see those ppsf, but that will trickle down into the 2000 sq foot range.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364460

The paradox is the high rents, there are so many vacants that the available housing is under utilized. I’m looking at rents and there isn’t anything desirable over 1500 sq ft for $1500 South of the 79. There are a bazillion places for 2000-2500 because that is what they need as lanlords to survive because they owe 500k+, investors are just not buying the repos and turning them into rentals. I want to wait for the sub $100 a square to hit but I think rent while I wait will cost more than buying.

[temeculaguy]

I agree with LA on this one, the past bubbles didn’t have panic but the past bubble didn’t have the I/O, adjustables and teaser rates to extent that this one did. It isn’t just a percentage points higher, the majority of the loans from 2003-2006 were not 30 yr fixed in So Cal. The past bubble was part of a normal cycle with normal financing and for the most part the only people who owned homes could afford them and could afford to ride it out. This bubble is a whole different ball game and I think panic will hit in 2008. I think the herd has turned, I think that the holidays derailed the decline and kept inventory off the market. As the forclosures drive the comps down, even if you find a buyer in the spring, the lenders wont make the loans because they have deemed So Cal a declining market, people won’t have the downpayment, nobody will be able to move up and we will have real estate grid lock. Fasten your seat belts.

[temeculaguy]

I agree with LA on this one, the past bubbles didn’t have panic but the past bubble didn’t have the I/O, adjustables and teaser rates to extent that this one did. It isn’t just a percentage points higher, the majority of the loans from 2003-2006 were not 30 yr fixed in So Cal. The past bubble was part of a normal cycle with normal financing and for the most part the only people who owned homes could afford them and could afford to ride it out. This bubble is a whole different ball game and I think panic will hit in 2008. I think the herd has turned, I think that the holidays derailed the decline and kept inventory off the market. As the forclosures drive the comps down, even if you find a buyer in the spring, the lenders wont make the loans because they have deemed So Cal a declining market, people won’t have the downpayment, nobody will be able to move up and we will have real estate grid lock. Fasten your seat belts.

[temeculaguy]

I agree with LA on this one, the past bubbles didn’t have panic but the past bubble didn’t have the I/O, adjustables and teaser rates to extent that this one did. It isn’t just a percentage points higher, the majority of the loans from 2003-2006 were not 30 yr fixed in So Cal. The past bubble was part of a normal cycle with normal financing and for the most part the only people who owned homes could afford them and could afford to ride it out. This bubble is a whole different ball game and I think panic will hit in 2008. I think the herd has turned, I think that the holidays derailed the decline and kept inventory off the market. As the forclosures drive the comps down, even if you find a buyer in the spring, the lenders wont make the loans because they have deemed So Cal a declining market, people won’t have the downpayment, nobody will be able to move up and we will have real estate grid lock. Fasten your seat belts.

[temeculaguy]

I agree with LA on this one, the past bubbles didn’t have panic but the past bubble didn’t have the I/O, adjustables and teaser rates to extent that this one did. It isn’t just a percentage points higher, the majority of the loans from 2003-2006 were not 30 yr fixed in So Cal. The past bubble was part of a normal cycle with normal financing and for the most part the only people who owned homes could afford them and could afford to ride it out. This bubble is a whole different ball game and I think panic will hit in 2008. I think the herd has turned, I think that the holidays derailed the decline and kept inventory off the market. As the forclosures drive the comps down, even if you find a buyer in the spring, the lenders wont make the loans because they have deemed So Cal a declining market, people won’t have the downpayment, nobody will be able to move up and we will have real estate grid lock. Fasten your seat belts.

[temeculaguy]

I agree with LA on this one, the past bubbles didn’t have panic but the past bubble didn’t have the I/O, adjustables and teaser rates to extent that this one did. It isn’t just a percentage points higher, the majority of the loans from 2003-2006 were not 30 yr fixed in So Cal. The past bubble was part of a normal cycle with normal financing and for the most part the only people who owned homes could afford them and could afford to ride it out. This bubble is a whole different ball game and I think panic will hit in 2008. I think the herd has turned, I think that the holidays derailed the decline and kept inventory off the market. As the forclosures drive the comps down, even if you find a buyer in the spring, the lenders wont make the loans because they have deemed So Cal a declining market, people won’t have the downpayment, nobody will be able to move up and we will have real estate grid lock. Fasten your seat belts.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

[temeculaguy]

I don’t know Murrieta very well but one just came up for $96 a square in that size range and for Allan it has a 12k sq ft lot. Bank owned. It looks to be just North of Harveston and in the same area, unsure if it is the same tract.

http://www.redfin.com/stingray/do/printable-listing?listing-id=1364693

It seems that every time I find something that amazes me, with a few days something else beats it.

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