Comments on: Real Homes of Genius: Today we Salute you Temecula and Culver City. Lower End of Housing Seeing Bottom. Buyers Lining up for Middle to Upper Priced Housing Markets. 1 Percent Discount in Culver City for a 625 Square foot Home or 62 Percent Discount in Temecula for 2,200 Square foot Home?

By: J

Tue, 18 May 2010 03:05:00 +0000

ive lived in temecula since 1985 ive seen it grow and this is the second ecomomic downfall its gone through. This is bad for temecula. All the rich people who lived in the wine country are selling. You dont see many of thoughs people here anymore. I used to take care of tyreese gibsons dogs at the vet clinic I worked at. There are NOOOOOOOOOOOOO jobs here so beware. Its a commuting down. what JP said is true. Alot commute to san diego also, there are lots of jobs in san diego but this makes the freeway Packed. you spend about 4 hours on the freeway to get to your 9 am starting job. which should only be an hour and 30 on weekends. Big companys and small bussiness are going out of bussines. Everyone seems to be struggling here. the plus side is that it is a good place to raise kids. Low crime . Dont get me started on the city gov here. They spent 50 thousand dollers on fireworks. YEs fireworks. Everyone told them not to do it cause the other citys cut there budgets to survive the recession. But they didnt. STUPID STUPID STUPID anways yea been here since 1985 grew up here.

All the people making it here are living with there familys so you have familys of generations living together to pay for there house.

By: JP

JP — Fri, 30 Oct 2009 03:01:27 +0000

I have been in the Temecula Valley (Murietta, Lake Elsinore, Temecula) for over 5 years. I would not choose to live here. The only way we survive is my work from home situation. There are NO JOBS! The weather is extreme with very view good 70s weather. The local mountains don’t allow us to benefit from the beach. I would not invest here! There is a development next door with streets and no houses being built on it. If you do want to have employment, your only option is to drive the crowded freeways 2-4 hours (possibly each way). The jobs are far more plentiful in Los Angeles/ Culver City! So what if you have a big new house – if you are never there or too tired to enjoy it! Been there and done that!! This area is going to be depressed for a long time. When my Father In-law passes away, I am getting the hell out of here! Even at a loss.

By: Richard Wicks

Richard Wicks — Fri, 04 Sep 2009 11:33:29 +0000

For those of you sitting on the fence waiting to buy in Silicon Valley, just quit sitting on that fence, and don’t EVER buy.

I’d rather have $XXX,XXX in cash and solid investments than a house made of spit and toilet paper. The bay area is never coming back to it’s boom times. It will even out, but forget about ever seeing anything like the dot.com mania or the housing mania. Here, it’s just going to be long, ongoing pain.

There is so much rental property here, it’s nuts. In my apartment complex of 64 units, more than 10 sit empty and I pay $1200 a month for 1000 square feet. I feel no obligation to buy a place here, when I have enough money to pick up, go back to the Central NY where I grew up, buy a house for cash, and settle into any job that is just enough to pay rent and taxes.

I can do a partial retirement, I can rent and continue accumulating money, or I can buy a small tiny place here and become a wage slave. Hmmm. what to do…

By: Disco

Disco — Thu, 03 Sep 2009 17:21:20 +0000

Re: When,

Guess i’d fall into that catagory, living in cc, 250k+ income, bought in the range you mention. Did it because CC was the only area that met my critera of what I wanted:
- House (not condo)
- Central to my job (SM) and my wife’s (Mid City)
- Walkable to well, anything.
- Within my price range

Ultimately would I have rather lived in another area? Sure, I’d love to be in Rancho Park or Beverly/3rd or something like that but I also wasnt willing to spend the $1MM+ it would have cost at the time to live there and I wasn’t willing to give myself an hour commute each day. There are lots of areas of CC that aren’t so great and there are some that area, ultimately I think it’s got the best combo of what I wanted. Hope that answers your question.

By: Ken

Ken — Sun, 30 Aug 2009 17:11:48 +0000

I recall someone wondering why the banks are holding on to this shadow inventory and I have a theory that I had thought might be ridiculous – I’m no economist, not that they have better insight.

I had wondered if banks were keeping the houses off the market and on their books so that they could secretly transfer the property to foreign creditors, like China, who wants to dump their US debt for hard assets.

I read this on kitco.com today:

“The FDIC has responded in two ways. They have opened the door for foreign financial firms to rescue the growing list of insolvent US banks, taking equity in exchange for infused funds as capital. This is unprecedented. Could this be due to the general insolvency of the great majority of big US banks?”

If this statement is true, and foreign financial firms can take equity in banks, then wouldn’t they acquire these properties? The public would be unaware that the empty homes in their neighborhood were owned by foreign investors? I guess they would own them anyway if they bought the loans…

I don’t know…dumb theory, I suppose. I guess it shows I know too little about the way things work.