Home Buying in Temecula>Question Details

Kristi, Home Buyer in San Diego, CA

Wolf Creek Community in Temecula, CA

Asked by Kristi, San Diego, CA Thu Jul 3, 2008

I am interested in the Wolf Creek community, but there seem to be a lot of REOs particularly in this area. I've noticed the REOs are looking run down. Can anyone tell me more about this area? I like Morgan Hills too, but don't like the small backyards and the high HOA fees. I like Wolf Crk. because of the beautiful architecture (Spanish style) and because of the larger backyards.

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I live in WC, and I really like it. Some of the neighborhoods here have architecture that is definitely a "cut above" your standard fare. I happen to live in a beautiful Spanish Mediterranean styled home that is very hard to find at any price (ready-made). The surrounding views are tremendous. The community pool is excellent (wish I could us it more!), HOA dues are approx $47/mo, that's low for what you get. It's near some good shopping areas. Temeculans have a strong sense of pride in their community. As for the REOs, don't worry, it's all mostly cosmetic. Weather is cool enough to grow grapes too! One big potential drawback is employment. Some uninformed non-residents seem to think that Pechanga traffic adversely affects our neighborhood; absolutely false. The vast bulk of casino related traffic goes down Pechanga Pkwy. It’s no busier than other large thoroughfare in any other city. If you’re a working professional that needs to make a substantial income, it will be difficult to find a job like that around here. My friends tell me: “Your neighborhood looks like it came straight out of a movie!” I’d buy another house here, but too late; already have another beauty somewhere else.
2 votes Thank Flag Link Fri Aug 22, 2008
Because Wolf Creek is one of the newest communities in Temecula it might seem harder hit by REO's than other tracts. The advantage would be that you can get an amazing deal. Right now some properties are half of what they sold for just a year or so ago. I have some friends that live in there and they love it. They especially like being able to walk to the schools and parks. As far as the run down part goes, during the short sale process the owners may stop watering the grass etc. but when it gets turned over to the banks the sprinklers go back on and the grass gets mowed. Don't hesitate to call or email me.
Toll Free 877.423.1587
robert@robertfirst.com
Web Reference: http://www.robertfirst.com
2 votes Thank Flag Link Fri Jul 4, 2008
Wolf Creek is one of our many neighborhoods that got hit hard by the foreclosures. The prices were still very high when the first few phases started selling in that area, and investors and home buyers hoping to turn the houses around for re-sale at higher prices took a big hit when the market declined. It is my opinion with the loss of equity and some creative loans a majority of the people walked away.

I do believe that when the REO properties lessen in that community that the “run down” look will dissipate. Pride of ownership will shine through in addition to the HOA committee becoming stronger.

I live, work, and play in Temecula… I know this market! Please feel free to contact me with any questions http://www.MyTemeculaRealtor.com or 951-551-6121

Take care,
Pamela Brown-Gatlin, Broker
2 votes Thank Flag Link Thu Jul 3, 2008
Kristi, some of the things you need to consider about Wolf Creek (and Morgan Hill for that matter) are the high taxes. This area has a Mello Roos that will be in effect for 30 years. Definitely a resale consideration. Wolf Creek also has a high CDF (California Dept of Forestry and Fire) tax as well. Tax rates right now are about 2% or higher in this area.

Also, there is a one time Community Enhancement Fee that a quarter of one percent of the purchase price to be paid by the buyer at close of escrow. Of course this fee can be requested to be paid by the seller in escrow, but again this should be a resale consideration.

Wolf Creek is an amazing community, very beautiful, great location, amazing parks, schools, and infrastructure. Its important to weigh the pros and cons of each and every community you are considering. Good luck and if you would like more information don't hesitate to call me. 951-551-7790 cell.
1 vote Thank Flag Link Wed Oct 1, 2008
45447 Olive Ct, Temecula Ca 92592. Priced at 323,000 for 3100 sq ft. Example of how low its gotten, and it'll only get worse
1 vote Thank Flag Link Sun Aug 17, 2008
I'd stay away from Wolf Creek. It will probably be sometime before the "rundown" looks start to dissipate. The market there is not done bottoming out for sure. Wait until 2009 or so and I'd consider the fact that you are next to the Pechanga Casino which drives a ton of traffic around the Wolf Creek neighborhood. We looked at Wolf Creek and it would be one of the last subdivisions we'd buy in considering the market and proximity to Pechanga Gaming Casino. Pechanga Parkway is just crazy traffic. NOt to mention the possible mining quarry that may go on top of the hill from Temecula. Talk about plummeting property values. I think the city is still fighting so this doesn't happen, do your homework for sure. The two areas we would consider are Paseo Del Sol and Redhawk.
1 vote Thank Flag Link Thu Jul 3, 2008
I live in Wolf Creek and the traffic on the weekends and for Events is the worst. It takes me 30 min or longer just to go a few miles. Our backyards are tiny and the houses are so cramped together it awful! People fighting all the time due to each others noise and their are a lot of people here who own more than 4 dogs each. You can imagine the noise under your bedroom window (my window is 10 feet from 7 dogs crammed into 1 small backyard), all night long (90% of the time)! I'm just renting but had I known before I would have chosen differently!!!!!The parking is awful unless you have a garage...
0 votes Thank Flag Link Thu Dec 1, 2011
Wolf creek was just built at the wrong time. People bought their homes close to $500k. Now we can find a home in the low 200's. If you would like help trying to find a home, we would love to help you. We work in South Temecula at Coldwell Banker. If you would like to talk to us about it you can reach us at SteveAndAngelaSmith@gmail.com
0 votes Thank Flag Link Fri Apr 29, 2011
Hi I lived in Morgan Hill near the Club House a year ago, nice neighborhood with great amenities. I now live closer to Wolf Creek, like the area, closer to the freeway. Should consider that prices are still on the decline in the area.
0 votes Thank Flag Link Fri Feb 19, 2010
Really great buys in Wolf Creek. I suggest the Sierra community in Wolf Creek. Association fee only 45- a month. That includes rec center and front yard maintence. That is wonderful. There are 4 parks within 5 min of my house here and 2 schools. Schools are rated wonderfully. My grandson started this year at Luciano and he is learning so fast.
Web Reference: http://temeculalife.com
0 votes Thank Flag Link Sun Dec 6, 2009
I live in Wolfcreek. I can tell you all about wolfcreek you would like to know from Week to Week comps and the trend of the past 2 years based on what model you are looking at. There are few builders with different models and they all get hit hard but differently. Please call or email me. I also have some builder specials that I get all the time and I can help you with some upcoming listings as I know lot of people in this neighborhood. I am a Wolfcreek neighborhood Expert.

Best Regards,

UTPAL 'Paul' PARIKH, Certified ABR,CSP,e-PRO,SRES,REALTOR

Direct: 619-990-9901
Email: realtorutpal@yahoo.com
Website: http://www.eastandwestrealty.com
0 votes Thank Flag Link Thu Dec 25, 2008
Great community and close to everything. Our team specialize in BANK OWNED homes and we actually just listed a really beautiful turnkey bank owned home in the community with almost 3000 SF and a backyard at almost 8000 SF. It is priced to sell quickly and we're pretty sure it won't be available for long.
Here's its website if anyone is interested. http://www.SouthTemecula.com
Web Reference: http://www.teamforss.com
0 votes Thank Flag Link Thu Jul 24, 2008
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