Rccrn, Real Estate Pro in Temecula, CA

Does anyone know what the price-rent ratio is in Temecula,CA?

Asked by Rccrn, Temecula, CA Sun Mar 21, 2010

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6
If you're looking at primarily cash flow, you're better off going outside Temecula. As an example, we bought a 2000 sq ft home in Hemet for $125,000 which we rent out for $1450 per month. No HOA fees and low property taxes. We also bought a 3300 sq ft Temecula home for $267,000 which we rent out for $1850 with $33 HOA fee in Redhawk. Hemet is obviously better, right? Well, the neighborhood and area is better in Temecula, and the future appreciation should be better in Temecula. Bottom line, it all depends what your investment criteria is. We bought 7 investment homes in the past year. Call or email for a complete analysis.

We're real estate broker/agent for bank owned properties, and we're also investors.
Web Reference: http://www.teamforss.com
2 votes Thank Flag Link Sat Sep 25, 2010
I've seen rent is about a $1 a square foot for the smaller homes, 1650 SF and under. As you go to larger homes, the price per square foot decreases.
I agree that there may be places with higher rents compared to purchase costs, however, buying in Temecula with excellent schools, low crime, and tenants with decent credit and job history, is why i purchase in the Temecula Area. It is also within a decent drive to San DIego.
The tenants i have dealt with in Temecula have maintained the property and paid on time and in full.
0 votes Thank Flag Link Mon Feb 28, 2011
It's about $1 a square foot as of August, 2010, or more if the property is very unique. There are two areas in Temecula: wine country (zip codes 92592 and 92591), and De Luz (92590). De Luz is more desirable than Temecula proper because it's about 8-10 degrees cooler in the summer, and 7-8 degrees warmer in the winter than deserty Temecula 92592. It has its own little microclimate, so you can grow vegetables year 'round. Ocean breezes start everyday at 2:30 PM. You'll rarely use your air conditioner! Average home prices in DeLuz are about 900K (down from 1.1M last year at this time), so it's a pretty exclusive area. If you're thinking about buying here, now is the time. If you can, rent first and "try before you buy." DeLuz is not for everyone, especially those with toys and noise. DeLuz is known for its quiet surroundings. So, If you're into peace and quiet, then you'll enjoy living here.
0 votes Thank Flag Link Sun Aug 1, 2010
In addition to the answers below you might try zilpy.com

Thank You,
Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
Harold@SoCalHomesRealEstate.com
http://www.socalhomesrealestate.com
CA. DRE Lic. # 01312992
0 votes Thank Flag Link Sun Mar 21, 2010
Hi R,

You can learn more about "Fundamental value and the price-rent ratio" at the link below...
http://www.frbsf.org/publications/economics/letter/2004/el20…

I have no idea what the average in Temecula is but I can help you understand and
apply the concept in the purchase of a home for investment or to live in yourself.

If you have any questions, feel welcome to call me at 951-308-1917

Best regards,

Richard Greenwood MBA, Twealtor
0 votes Thank Flag Link Sun Mar 21, 2010
Rccrn
There is a website http://www.rentometer.com , it will help you gauge rent for the area but it is not going to tell home selling price to rent ratio if that is what you are asking. Home selling price to rent ratio is really too difficult to guage. I will tell you that the majority do look for $1800 and under. Still $2000 and under still rents fairly well, anything over that better have something special about the home.

Good Luck!
Web Reference: http://www.di4homes.com
0 votes Thank Flag Link Sun Mar 21, 2010
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