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San Bernardino and Riverside Counties The Inland Empire
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Old 11-16-2007, 06:22 PM
 
4 posts, read 21,584 times
Reputation: 13

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A recent artcile mentioned that the average house in the IE dropped by 15 percent year over year. So I ask the followingn of those that live out in the IE. City / Date Bought / Price Bought / Price Now (you can look at what other houses are been offered at to get a ball park). I believe it will be much higher than 15%. Here are my numbers

San Jacinto / September 2005 / $410 000 / $310 000

 
Old 11-17-2007, 07:52 PM
 
33 posts, read 154,449 times
Reputation: 18
I lived in San Leandro , Ca ( The Bay Area )/ June 2003/$425,000/ SOld ON July 2005 for 600K, moved to Texas and paid off my house!! YEA!!!! 3000 Sq. Ft for less than 200K!!! Master planned community with great schools, awesome!!
 
Old 11-17-2007, 08:04 PM
 
Location: Perris, Ca
74 posts, read 289,451 times
Reputation: 37
I live in East Perris and this house was built in 1991 and it is worth about $315-325 I think. My parents bought it for about 81K. It is 1,600 sq feet.
 
Old 11-18-2007, 02:02 AM
 
Location: Lake Elsinore, Ca
17 posts, read 136,071 times
Reputation: 19
City: Lake Elsinore
Date Bought: 5/1/07
Price Bought: $421, 000
Price Now: $359,020

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Last edited by da jammer; 11-19-2007 at 07:53 AM..
 
Old 11-18-2007, 03:43 AM
 
1,831 posts, read 5,292,295 times
Reputation: 673
There's always a time lag with the data so, realistically .... I've seen a big drop in prices.

At least a $100K drop ...

I bought my inland empire house in the high desert four years ago for $150K. At the peak of the market it would have sold for $335K to $350K.

Today ... I'd be lucky to get $250K for it ... and it would probably take six months to sell.

If I had to sell it fast within 30 days I'd probably have to drop the price to $225K or even $200K to move it right now in this market.

Last edited by sheri257; 11-18-2007 at 03:53 AM..
 
Old 11-18-2007, 07:02 AM
 
1,831 posts, read 5,292,295 times
Reputation: 673
Quote:
Originally Posted by FalconRanch1 View Post
I lived in San Leandro , Ca ( The Bay Area )/ June 2003/$425,000/ SOld ON July 2005 for 600K, moved to Texas and paid off my house!! YEA!!!! 3000 Sq. Ft for less than 200K!!! Master planned community with great schools, awesome!!
Yeah but, you have to live in Texas.

Ugh.

 
Old 11-18-2007, 07:15 AM
 
Location: Apple Valley Calif
7,474 posts, read 22,875,208 times
Reputation: 5682
Quote:
Originally Posted by sheri257 View Post
Yeah but, you have to live in Texas.

Ugh.

You stold my reply. I was going to say the same thing.
As far a prices, it matters not what all of these people say. The market workes in cycles. There is no way in Hell you will ever lose money on California Real Estate.
We bought a new home in Yorba Linda in 1989 for $350k. within a year the price dropped radically, due to a bad economy and poor RE market. It didn't matter at all to us, because we had no intention on moving. We lived there for 16 years and sold the home in '05 for $900 k. After two years, I see that same home sold again in this down market for the same $900k, so it stayed the same for two years. It may well go down some more for a while, but in a few years, the owner will again see great appreciation.
Everything goes in cycles, but RE always comes back. Believing in California RE mas made me wealthy over the years. I am not in the RE business, I just bought and sold a few homes over the years. My first home cost me $27,500.00 when I was 23, so don't worry about home prices going up and down, just worry about if you can make the payments, the market will take care of its self...
 
Old 11-18-2007, 07:24 AM
 
1,831 posts, read 5,292,295 times
Reputation: 673
Quote:
Originally Posted by Donn2390 View Post
Believing in California RE mas made me wealthy over the years. I am not in the RE business, I just bought and sold a few homes over the years. My first home cost me $27,500.00 when I was 23, so don't worry about home prices going up and down, just worry about if you can make the payments, the market will take care of its self...
True but, you have to admit that buying cheaper is better ...

Afterall, a lower payment is better than a higher payment while you're riding out the crash.

Still, I also believe in California real estate. People can brag about how cheap prices are in Texas but those houses hardly appreciate at all.

Texas home prices don't even keep up with nationwide home appreciation rates.

Personally, I'll wait a couple of years for the market to reach bottom then, I'll probably invest in California real estate again.
 
Old 11-18-2007, 11:29 AM
 
2,896 posts, read 6,632,726 times
Reputation: 5054
Quote:
Originally Posted by walter_hedingly View Post
A recent artcile mentioned that the average house in the IE dropped by 15 percent year over year. So I ask the followingn of those that live out in the IE. City / Date Bought / Price Bought / Price Now (you can look at what other houses are been offered at to get a ball park). I believe it will be much higher than 15%. Here are my numbers

San Jacinto / September 2005 / $410 000 / $310 000
back on topic...


we bought in the east end of Hemet in 9/01 $181,000

sold exactly one year ago today $410,000

on the market for 90 days

according to zillow (I know I know ) right at $398,000 today
 
Old 11-18-2007, 11:34 AM
 
58 posts, read 408,603 times
Reputation: 41
Bought in 1990 for 134,000. It is now worth 410,000 and we don't owe much at all.
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