Riverside #8 Coolest City According to Forbes (Mira Loma: coop, murders, area)

[NORTY FLATZ]

The best thing that Riverside, ever had, was RIR. Now that it's a vacant strip mall, Riverside has nothing of interest.

Houses. Endless houses. What a shame...(btw, there's no "river" in Riverside, either!)

[Boogoowoo]

Originally Posted by waltchan

$542,990 starting price, actually. However, it used to be only $329,990 back in early-2015 when it first opened. Sorry you missed out.

Some of the homes in a worse Riverside neighborhood are as low as mid-$300,000s. It's possible to live in downtown Riverside for less than $400,000 fully-remodeled, which may be a good investment in a first-class location, but it's in a worse spot across the street of the Maxi Foods market's dumpster:

https://www.zillow.com/homedetails/4...7841184_zpid/?

(It's easily fixable, the business can easily construct a brick wall on 9th St. to the end. It requires a city hearing.)

There's always Moreno Valley as a backup, but I will choose downtown Riverside before Moreno Valley, regardless of price or near a dumpster. Riverside micropolitan area used to be dirt-cheap back in 1997, no more now.

Moreno Valley reminds me of Fresno. Blah. I bought my place for 430k, has needed 25k of diy work (50k by gc) but it’s a steal. Homes in my area are now 600k for similar size needing renovations themselves. As far as investments go I’m planning on turning my garage into an adu (I had messaged you about this I believe). Should be able to do it for around 25k and being in around 12k after expenses and taxes a year.

[waltchan]

Originally Posted by Boogoowoo

I bought my place for 430k, has needed 25k of diy work (50k by gc) but it’s a steal. Homes in my area are now 600k for similar size needing renovations themselves. As far as investments go I’m planning on turning my garage into an adu (I had messaged you about this I believe). Should be able to do it for around 25k and being in around 12k after expenses and taxes a year.

Congrats... Is it near UC Riverside area, in Belvedere Heights or Canyon Crest neighborhood? This is a permanent money-maker area for current and (forever) future students. For people that need a little more upgrade or luxury, Spring Mountain Ranch or Orangecrest is your answer here. Time to dress-up into Irvine appearance a little bit.

(Yes, I received and replied to your PM. )

[waltchan]

New 846 townhomes (up to 3 stories) being proposed at the unincorporated Highgrove neighborhood of Riverside area:

http://www.highgrovehappenings.net/July_2021_HGHf.pdf

This will be the largest new home development in city of Riverside for the last 20 years. With up to 3 stories in each home, I'm guessing that Landsea Homes will win the contract to build this development, similar to their Lake Forest, CA development in Orange County.

https://landseahomes.com/ironridge/silveroak/

Pricing will start at the low-$500,000s.

[waltchan]

Impressive article:

https://www.msn.com/en-us/money/news...edgdhp&pc=U531

That's why most of the homes in Riverside are actually undervalued. It's because the homes are too old to appeal to the new, upper-class younger buyers, especially UCR graduates (except at the Riverside historic district).

If only Riverside had 50% open-land left remaining, home prices would start at $700,000 instead, since it will be master-planned into a new higher-income neighborhood.

Now, Riverside can only build at Highgrove area, and demolish old warehouse buildings, where Spring Mountain Ranch by KB Home is at. The 1950s home developers accidentally built too many homes in central Riverside that future generation buyers don't want to buy, and, sadly, Riverside is still stuck with this bad stigma (old housing issue), which isn't a friendly match to compete with rising UCR university.

[waltchan]

Originally Posted by Rioside

You say this despite home prices increasing amongst the most in the US in riverside and homes constantly being overbid with cash. Like… what?

There's always the "circle of life" generational cycles for each neighborhood, determined by the year the homes were built. The newer homes usually have higher per-capita number of younger homeowners than the older homes built in the 1920s to 1960s. There's also more per-capita number of kids too per family. Trick-or treating experience is always better too. We had over 1,000 kids on Halloween night from the homes built in 2016-2017. You won't find that in a 1940-1960 suburb neighborhood at all.

Remember, it only takes 20 years to raise a child from birth to adulthood per family. After 20 years (or the homes after 20 years old), the Halloween spirit begins to die down, streets becoming quieter, more older residents, fewer homes giving out candies, quieter on Christmas, and etc. Desirability will slowly decline.

For example, I am bearish on Eastvale's future by year 2040. Ontario Ranch will continue to expand and fill-in land with more new infrastructure and new homes. It has potential to become richer-looking too with better job opportunities and closer commute. Eastvale's residents will gradually increase its median age, homes will turn 40 years old, and fewer young homeowners will even consider moving here. (Unless the schools are rated 10/10 by GreatSchools constantly).

Eastvale homes will gradually attract more lower-income residents in the long-run, and it is vulnerable to become the new Moreno Valley. Sure, home prices will continue to go UP slowly with a lot of cash offers, but fewer ultra-rich people will call Eastvale desirable now.

[marino760]

When did Mira Loma become Eastvale? I spent my youth in the area and attended Cal Poly in the late 70s early 80s, lived in Cucamonga and Ontario. Eastvale was never a place at that time, it was called Mira Loma and even before that it was called Wineville I think. Is there actually some historical place called Eastvale or is that a name some developer made up because it sounds better than Mira Loma, which was well known for it's dairies and cow manure smell.

[waltchan]

Originally Posted by marino760

When did Mira Loma become Eastvale? I spent my youth in the area and attended Cal Poly in the late 70s early 80s, lived in Cucamonga and Ontario. Eastvale was never a place at that time, it was called Mira Loma and even before that it was called Wineville I think. Is there actually some historical place called Eastvale or is that a name some developer made up because it sounds better than Mira Loma, which was well known for it's dairies and cow manure smell.

Mira Loma is actually located east of 15 freeway, and it is now part of city of Jurupa Valley today. Mira Loma is not part of city of Eastvale. Mira Loma is a neighborhood of Jurupa Valley. Wineville is located in city of Jurupa Valley too.

[marino760]

Originally Posted by waltchan

Mira Loma is actually located east of 15 freeway, and it is now part of city of Jurupa Valley today. Mira Loma is not part of city of Eastvale. Mira Loma is a neighborhood of Jurupa Valley. Wineville is located in city of Jurupa Valley too.

Thank you for the information. I've been curious about this for a while. Interestingly, from what I've read, Eastvale or East Vale was once nothing more than the name of a local school district in that location not very long ago.

Spending much time in that area as a young person, there was never any signage along the 15 showing any existence of a place called Eastvale. Rather the signs along the freeway along what is now Eastvale read Mira Loma. SCE has or had a large substation just west of the freeway called Mira Loma sub located south of Ontario and north of Norco where the dairy farms were.

[marino760]

I'll add one more thing for those interested in the fascinating history of this area. Mira Loma used to be called Wineville. The name was changed to disassociate the area with a famous serial killing of young boys who were abducted and murdered and buried in and around a chicken coop located there in about the early 1930s or late 20s. It's known as the chicken coop murders.
According to this Wiki article, Mira Loma meaning "Hill View" was in part what is now Eastvale. What's left of Mira Loma is now part of Jurupa Valley. Incorporation of Mira Loma into Eastvale happened in 2010.
https://en.wikipedia.org/wiki/Mira_Loma,_California