[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Seems the Builders are leading the price decline, I guess you got to Move inventory to EAT,

You got to EAT.

KB homes is having Big price reductions in the SCV and there is this 50th thing they are doing this weekend .

Hmmm…

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

The interesting thing is , there are starting to be New Homes and Condo’s priced less than the Foreclosures on the market in some area’s (not SD as much just yet but in SCV and some riverside area’s).

But people still hear the word foreclosure and think they are getting a steal or something (interesting).

It will take awhile before the housing Mania subsides.

Seems the Builders are leading the price decline, I guess you got to Move inventory to EAT,

You got to EAT.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

The interesting thing is , there are starting to be New Homes and Condo’s priced less than the Foreclosures on the market in some area’s (not SD as much just yet but in SCV and some riverside area’s).

But people still hear the word foreclosure and think they are getting a steal or something (interesting).

It will take awhile before the housing Mania subsides.

Seems the Builders are leading the price decline, I guess you got to Move inventory to EAT,

You got to EAT.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

I would agree that NC SD is a better place to live,

As far as recent Job’s influx to SCV (Valencia), There was that big Biotech Lab that moved from Santa Monica, L.A. City learned their lesson from San Fernando and moved a bunch of jobs and built new facilities just off the I5 on the way over the hill, then there has been a big influx of Defense work and contractors in the last three years.

So yes, not a small town anymore.

And I drive that route several mornings a week, I can see the traffic (not as much going north as south yet but there are traffic Jams now days).

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

I would agree that NC SD is a better place to live,

As far as recent Job’s influx to SCV (Valencia), There was that big Biotech Lab that moved from Santa Monica, L.A. City learned their lesson from San Fernando and moved a bunch of jobs and built new facilities just off the I5 on the way over the hill, then there has been a big influx of Defense work and contractors in the last three years.

So yes, not a small town anymore.

And I drive that route several mornings a week, I can see the traffic (not as much going north as south yet but there are traffic Jams now days).

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

I would be buying to live.

Valencia has almost as much traffic commuting in for work as out these days. No longer the sleepy little town it used to be when I grew up.

Kind of what I think Temecula could become in 10 years maybe. (Temecula remind me of Valencia 10 years ago).

Investment in RE in most Socal area’s I think will be a poor return for a long time to come. I got some Agricultural land for long term investment in Fallbrook area but don’t think there will be a good return on investment for residential RE for a good while.

Think there are too many rich dad wantabee’s out there just yet.

But you never know how this down turn play’s out.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

“Really? Your buy point is $470K with a 2% tax and HOA?”

For that area (Valencia), yes,

It’s my home town. know the area very well.

If Costal NC SD hit that point ($470K with a 2% tax and HOA)
for 3000SQF McMansion, that would be my buy point as well.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

“$1k in Taos. Sounds like the deal of a lifetime.”

The Taos county tax collector keeps telling me it’s only worth 200.00 .

This is close to the Ski area walking distance to the Reo Grand river groge (about 7 miles from the city).

My tax is $5.00 a year so I don’t argue.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

In Valencia (North L.A. County) KB homes has 3000 SQF McMansions going for 570K, (last year could not find 3000SQF home less than 700K) the above comes with 2% tax and 120 a month HOA however (another 100K down and it will reach my buy point for that area).

KB home is having a 50’th anniversary Ceb. this weekend and will be offering (from the sales rep) big incentives to those who visit this weekend.

Looks like a little competition starting ..

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

“I have almost got the approval for a 20 acre “Architectural free Zone” ”

I got this 1/4 acre piece of land in Taos NM at one of those land auctions for 1K , they build these earth-ship’s out of Mud and recycled tires etc… in that area.

You get a Licensed Architect to apporve the plans and Taos County leaves you to your own business it seems.

Don’t know if I would want the chemicals from the tires in My home though.

Still I am holding the land just incase I ever get the urge to play with a big Mud project.

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

No expert here but been looking at homes from Ventura, North L.A. – OC – Temecula – and SD ,

Seems just about all area’s are down about 100K from their peak 2005 price (for like homes, foreget the median price whatever that is).

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

“turnkey AND a great price”

This has my vote,

My two cents, We are still a long way from the above just yet.

I would take a beat up foreclosure, at a beat up foreclosure price (IMO we are a long way from this as well).

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

“The lenders were NOT HAPPY with the prices they got and were testing this out. Doing it again is not a given for them.”

I was not happy with the prices either but for a different reason..

Maybe those lenders are just trying to put a good face on a bad lending (Bad business) decision ??

after all they got to find some way to pass the buck, Could not be that they just lent too much out for too little RE .

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

Was at the Auction as well, There was not any bidders (buyers) anywhere near where I was so I did not get the chance to ask (WHAT THE HECK IS WRONG WITH YOUR MIND ANYWAY).

Seems most went for market to above market. either there were a lot of idiots with way too much credit being made available, or the banks were bidding them up (who knows !!).

This RE downturn may take awhile (unless something drastic happens to the economy anyway).

[The-Shoveler]

Nor_LA-Temcu-SD-Guy

There seem to be a lot of Vacant homes (see them all the time at open houses).

The seller is motivated I hear so make offer (after I suggest a rediculous low ball offer).

Seems they were move uppers as well.

Just be careful out there.

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