Home Buying in Riverside>Question Details

kevin nguyen, Real Estate Pro in Riverside, CA

I want to invest into Murrieta 92562 but saw 8.9% vacancy rate, should I be concerned?

Asked by kevin nguyen, Riverside, CA Mon Apr 30, 2012

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5
Susan Vanderburgh’s answer
Many investors make the mistake of going for the "big money" and they lose out on properties that are steady income generators. Murrieta/Temecula are popular areas because Temecula schools have the highest API in Riverside county. Murrieta is not that far behind.
0 votes Thank Flag Link Mon Jul 9, 2012
Sorry you didn't receive more response on your question. I am curious whether you did go through with the purchase in Murrieta.
0 votes Thank Flag Link Sat Jun 9, 2012
vacany rate is average, based on all types of housing. I looked at some management site and they said 1-3 weeks, which I doubt it in this market as bad as Murrieta with unemployment rate Murrieta has.

If some professional have different perspectives, I really appreciate it if they can share it here. I really want to invest into rental house in Murrieta but still debating if I should or stick with north/west Riverside counties instead.
0 votes Thank Flag Link Thu May 3, 2012
Is that vacancy rate for apartments or single family homes? I don't have any actual statistics but I have heard anecdotally that SFR's rent up well in that Temecula/Murrieta. Maybe try and call some local properties managers and ask them how long it's taking to rent up properties and the quality of tenants.
0 votes Thank Flag Link Wed May 2, 2012
can some one help me to anwser this question, offer is waiting for me to counter. Your help in general will help housing market, every transaction counts
0 votes Thank Flag Link Wed May 2, 2012
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