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temeculaguy
ParticipantFLU I have to pass, I have little knowledge of RP plus I am totally exhausted from my last few posts and I am way behind on my scheduled time to start drinking.
“Beer is proof god loves us and wants us to be happy”
– Ben Franklin
ParticipantFLU I have to pass, I have little knowledge of RP plus I am totally exhausted from my last few posts and I am way behind on my scheduled time to start drinking.
“Beer is proof god loves us and wants us to be happy”
– Ben Franklin
ParticipantEx SD, I didn’t see your post with all the action here so I failed to reply. When I first came to Temecula 17 years ago you could get a modest 1300 to 1900 sq ft for 120-160k, but 3700 sq ft for 190k, never saw it unless it was far away from temecula, the in town master planned stuff got as low as 160-190k but it was more like 2200-2500 sq ft. Even in the darkest days of the last market, location and amenities still played a role. And you heard stories of big houses in other parts of the country for 80k, I will say what I have always said, enjoy yourself, it’s not for me. So Cal R/E will fall but it will never fall to the levels of most of the country, the disparity will always be there and quite frankly I don’t want to live in Texas or Indonesia for that matter even though I can get a better deal on a house.
FLU, do i see sub 200k prices for Temecula, it all depends on the area and the size. 3700 sq ft, south Temecula within city limits, lets say Morgan Hill or Redhawk, that would be well below 1996-1998 levels, for something fifteen miles north, maybe but if the better locations get there, I’ll pay cash, hell i’d join the dark side and become a landlord at those prices.
ParticipantEx SD, I didn’t see your post with all the action here so I failed to reply. When I first came to Temecula 17 years ago you could get a modest 1300 to 1900 sq ft for 120-160k, but 3700 sq ft for 190k, never saw it unless it was far away from temecula, the in town master planned stuff got as low as 160-190k but it was more like 2200-2500 sq ft. Even in the darkest days of the last market, location and amenities still played a role. And you heard stories of big houses in other parts of the country for 80k, I will say what I have always said, enjoy yourself, it’s not for me. So Cal R/E will fall but it will never fall to the levels of most of the country, the disparity will always be there and quite frankly I don’t want to live in Texas or Indonesia for that matter even though I can get a better deal on a house.
FLU, do i see sub 200k prices for Temecula, it all depends on the area and the size. 3700 sq ft, south Temecula within city limits, lets say Morgan Hill or Redhawk, that would be well below 1996-1998 levels, for something fifteen miles north, maybe but if the better locations get there, I’ll pay cash, hell i’d join the dark side and become a landlord at those prices.
ParticipantEx SD, I didn’t see your post with all the action here so I failed to reply. When I first came to Temecula 17 years ago you could get a modest 1300 to 1900 sq ft for 120-160k, but 3700 sq ft for 190k, never saw it unless it was far away from temecula, the in town master planned stuff got as low as 160-190k but it was more like 2200-2500 sq ft. Even in the darkest days of the last market, location and amenities still played a role. And you heard stories of big houses in other parts of the country for 80k, I will say what I have always said, enjoy yourself, it’s not for me. So Cal R/E will fall but it will never fall to the levels of most of the country, the disparity will always be there and quite frankly I don’t want to live in Texas or Indonesia for that matter even though I can get a better deal on a house.
FLU, do i see sub 200k prices for Temecula, it all depends on the area and the size. 3700 sq ft, south Temecula within city limits, lets say Morgan Hill or Redhawk, that would be well below 1996-1998 levels, for something fifteen miles north, maybe but if the better locations get there, I’ll pay cash, hell i’d join the dark side and become a landlord at those prices.
ParticipantJWM, maybe you are right. I have made my preparations, I have all three, i just have a “hold you horses” attitude when it comes to some of the earth shattering expectations. Perhaps I am equating my personal circle of friends and co-workers and thinking there are more people who have done the same when in fact there might not be. I guess we will see. I have been suprised before.
ParticipantJWM, maybe you are right. I have made my preparations, I have all three, i just have a “hold you horses” attitude when it comes to some of the earth shattering expectations. Perhaps I am equating my personal circle of friends and co-workers and thinking there are more people who have done the same when in fact there might not be. I guess we will see. I have been suprised before.
ParticipantJWM, maybe you are right. I have made my preparations, I have all three, i just have a “hold you horses” attitude when it comes to some of the earth shattering expectations. Perhaps I am equating my personal circle of friends and co-workers and thinking there are more people who have done the same when in fact there might not be. I guess we will see. I have been suprised before.
ParticipantThe world is really upside down, because appear to be in the bull position here. The housing bulls deserve a reality check when they drop in but it doesn’t mean bears can just shoot off without any support for their arguments either. Texas is way cheaper, homes should return to under 200k, the median income doesn’t support it. Platitudes and cliches, bull or bear, pony up some support for your arguments and I can be swayed. There will may very well be very modest homes for sub 200k, but a median of 70k includes the 30-40% of the people who shouldn’t buy a house and this whole thing started regarding the future price of a home that is not a median home and not in a median area. My point is that 30% off peak is a reasonable guess, 50% off peak is a stretch but not impossible, but 30 or 40 cents on the dollar, good luck with that too. I just see too many people with over a 100k incomes that have been licking their chops for this area and a few others demographicaly similar, there are enough posters on this site that would keep 4-s from more than a 50% nominal drop, I doubt they could control themselves if it goes down another 100 to 200k they way they talk. 4-S will not lose 5% while Temecula and Chula Vista lose 50%, but it doesn’t mean it will be an equal percentage, Those three areas were heavily built and financed in the bubble so the are the most suceptible but they are not equal, 4-s still has a greater appeal and if the repo bargains for the really big ones ever were to hit 400k, the refugees that sold and moved out of state will be back so you better be quick. My final answer is that that house will never go below 500k, final answer, prove me wrong with some facts other than we will be selling apples on the corner scenario.
ParticipantThe world is really upside down, because appear to be in the bull position here. The housing bulls deserve a reality check when they drop in but it doesn’t mean bears can just shoot off without any support for their arguments either. Texas is way cheaper, homes should return to under 200k, the median income doesn’t support it. Platitudes and cliches, bull or bear, pony up some support for your arguments and I can be swayed. There will may very well be very modest homes for sub 200k, but a median of 70k includes the 30-40% of the people who shouldn’t buy a house and this whole thing started regarding the future price of a home that is not a median home and not in a median area. My point is that 30% off peak is a reasonable guess, 50% off peak is a stretch but not impossible, but 30 or 40 cents on the dollar, good luck with that too. I just see too many people with over a 100k incomes that have been licking their chops for this area and a few others demographicaly similar, there are enough posters on this site that would keep 4-s from more than a 50% nominal drop, I doubt they could control themselves if it goes down another 100 to 200k they way they talk. 4-S will not lose 5% while Temecula and Chula Vista lose 50%, but it doesn’t mean it will be an equal percentage, Those three areas were heavily built and financed in the bubble so the are the most suceptible but they are not equal, 4-s still has a greater appeal and if the repo bargains for the really big ones ever were to hit 400k, the refugees that sold and moved out of state will be back so you better be quick. My final answer is that that house will never go below 500k, final answer, prove me wrong with some facts other than we will be selling apples on the corner scenario.
ParticipantThe world is really upside down, because appear to be in the bull position here. The housing bulls deserve a reality check when they drop in but it doesn’t mean bears can just shoot off without any support for their arguments either. Texas is way cheaper, homes should return to under 200k, the median income doesn’t support it. Platitudes and cliches, bull or bear, pony up some support for your arguments and I can be swayed. There will may very well be very modest homes for sub 200k, but a median of 70k includes the 30-40% of the people who shouldn’t buy a house and this whole thing started regarding the future price of a home that is not a median home and not in a median area. My point is that 30% off peak is a reasonable guess, 50% off peak is a stretch but not impossible, but 30 or 40 cents on the dollar, good luck with that too. I just see too many people with over a 100k incomes that have been licking their chops for this area and a few others demographicaly similar, there are enough posters on this site that would keep 4-s from more than a 50% nominal drop, I doubt they could control themselves if it goes down another 100 to 200k they way they talk. 4-S will not lose 5% while Temecula and Chula Vista lose 50%, but it doesn’t mean it will be an equal percentage, Those three areas were heavily built and financed in the bubble so the are the most suceptible but they are not equal, 4-s still has a greater appeal and if the repo bargains for the really big ones ever were to hit 400k, the refugees that sold and moved out of state will be back so you better be quick. My final answer is that that house will never go below 500k, final answer, prove me wrong with some facts other than we will be selling apples on the corner scenario.
ParticipantIt may not be what you want and I am not shopping there either, but make no mistake, we aren’t indicative of the majority. In looking at the big picture, there will be plenty of knife catchers long before this house hits 500k, so many that the olympic knife catching team will move it’s headquarters there.
ParticipantIt may not be what you want and I am not shopping there either, but make no mistake, we aren’t indicative of the majority. In looking at the big picture, there will be plenty of knife catchers long before this house hits 500k, so many that the olympic knife catching team will move it’s headquarters there.
ParticipantIt may not be what you want and I am not shopping there either, but make no mistake, we aren’t indicative of the majority. In looking at the big picture, there will be plenty of knife catchers long before this house hits 500k, so many that the olympic knife catching team will move it’s headquarters there.
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