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Yes. Apparently, the homes that are within 3-4 times the median income appear to be selling: $175-250K. We found a home in that range and we went for it. Really happy too :-) Good luck! - Fri May 16 2008, 16:27

You won't find any in the Del Mar or coastal areas. Five bedrooms is a tough one. You might find some in Escondido or Vista but the schools aren't that great. If you are willing to take a drive and are looking for good school districts, I would suggest Temecula or Murrieta. You can also go south to Otay Ranch, Eastlake, or Chula Vista. I don't know how the schools are down there though. Maybe going east, La Mesa, Del Cerro, or certain parts of El Cajon - Fri May 16 2008, 16:20

We ended up buying a foreclosure, which was a fabulous deal. We had no hassles from the bank that owned the home. In this market, they seem willing to meet buyer demands on getting things fixed, despite their "as-is" claims. I would suggest finding a realtor who knows the market and deals with foreclosures. Good luck! - Fri May 16 2008, 16:15

HOA depends on the neighborhood you chose. The new one's typically will have one. Currently I live in Temecula and about 2 days out of the week, the offramp to get on the 1-15 S on Winchester can take about 5 minutes especially around 8 o'clock in the morning. If you get there earlier, it is fairly easy to get on.

As for the price of the home, it depends on what you are looking for. One of the downsides of alot of the homes built is that while the master bedrooms are spacious, the extra rooms are tiny that are made to fit a crib or a twin bed and nothing else.

Personally, in the French Valley area, it's like a no-man's land in terms of whether it is Temecula or Murrieta. I think technically it is Murrieta but if you check the school boundries, you will see that some homes are considered to be in the Temecula school district.

Taxes. Once again, it depends on where you live. Where we live, we pay 1.5 but a 3 minute drive up the street, it can be 1.9 or if you go the other way, it's 1.1% .

Do you have a particular development in mind? I might be able to help you out as we just purchased a home here. - Tue May 13 2008, 14:43

Happened to us twice. First time the other bidder had a higher downpayment, second time the home went to auction before the bank came back with an answer. We said no more short sales, and just recently bought a nice foreclosure. Might want to stay away from the short sales, too much hassle. - Mon Apr 21 2008, 20:07