I see that the only answers that you received were from buyers or sellers, no agents. hmmm interesting.
Anyway, right now you can get a sweet deal in the areas of Tuscany Hills, Canyon Hills, Rosetta Canyon and Canyon Lake.
And yes, prices have continued to drop since August, but Temecula seems to be stabilizing a bit and most of the "good" bank owned properties have multiple offers that are higher than the asking price submitted on them.
You will get more for your money in south riverside county. There is a much higher foreclosure rate in the Inland Empire than in OC due to the properties that were bought as investments not primary residences.
If you have not made a decision or a purchase yet, feel free to contact me and I would be happy to answer any questions that you may have. You can visit my website @ http://www.robinzapata.com and log in to the MLS search engine without any obligation or even having to sign in!! I hope this helps. I have been in Temecula since 1993 and moved here from North San Diego County. I have never regretted the move. I love this area and I have family living in Lake Elsinore, Canyon Lake and Wildomar!! We all moved from San Diego or Orange County!! Anyway, I hope this helps!!
Everytime I hold open houses in Tuscany Hills one of the family members drops by to say hello...amazing.
David A. McCloskey
Let's Make It Happen...NOW!
Coldwell Banker Town & Country
Cell: (951) 818-1167
California is different than the National average that you may see on the news networks. We have many people who have always wanted to live here looking at homes that they feel they can now afford since prices have dropped.
Don't expect prices here in Southwest Riverside County or Orange County to drop drastically because we are seeing 20+ offers on homes. The simple theory of supply and demand will keep the prices from dropping.
Posted by Tyler Durden at 10:50 AM
In light of the market moving preannouncement by WFC, which as David Faber points out may have used some "leeway" with the marks on the company's mortgage related assets, it makes sense to present some California foreclosure data to show just how hot the refi market really is. We grab the following data and charts from the excellent Field Check Group blog.
The bottom line is that there is a massive wave of actual foreclosures that will hit beginning in April that canâ€™t be stopped without a national moratorium â€” this wave is so big I would not put it past them trying it.
CA foreclosure background - in mid-2008 the foreclosure wave was artificially held back as a result of the CA law SB1137 enacted in Sept 2008. This also kept NODâ€™s and NTSâ€™s at much lower levels than the actual defaults that were occurring. Other bubble states and several banks/servicers also went on random moratoria and the foreclosure wave was held back for the past six months.
But just like so many other intervention and moratoria in the past, the problem just comes out the other side even more violent than if they would have done nothing. Adding insult to injury, the GSEâ€™s announced this week that they were coming off moratorium, which could increase foreclosures by 20-25% alone.
March brought the first 50k+ count ever for NODâ€™s in CA. From here the banks and servicers will try anything they can to get borrowers into mortgage mods before the Notice-of-Trustee Sale in filed 4-5 months down the road but ultimately most will make it to foreclosure sooner or later.