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Old 01-18-2012, 03:36 PM
 
1 posts, read 3,480 times
Reputation: 10

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Hello! I have been lurking these threads here for a while and have found some really helpful information! I have a question for you Californians that perhaps you can help with...

I am currently living in Mesa, AZ with my husband and two daughters (2 and 10). I'm mostly wanting to move because I am bored out of my mind here and can think of nothing to do with the kids that we haven't done 1001 times. The job thing isn't an issue. We are photographers here, and will just keep our business here and drive in for shoots - so we are hoping for southern California for the shorter drive. We are looking for a decent neighborhood - low crime and decent schools are a major factor. Our price range is 175k - 200k ish which we had originally thought was impossible in CA, but we have noticed a huge crash and things seem more affordable now. Can anyone chime in about Temecula or Murrieta? They seem good from what I can tell. Or any other city recommendations would be much appreciated!

Thank you!
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Old 01-18-2012, 04:38 PM
 
Location: 92037
4,630 posts, read 10,274,962 times
Reputation: 1955
Quote:
Originally Posted by meganinarizona View Post
Hello! I have been lurking these threads here for a while and have found some really helpful information! I have a question for you Californians that perhaps you can help with...

I am currently living in Mesa, AZ with my husband and two daughters (2 and 10). I'm mostly wanting to move because I am bored out of my mind here and can think of nothing to do with the kids that we haven't done 1001 times. The job thing isn't an issue. We are photographers here, and will just keep our business here and drive in for shoots - so we are hoping for southern California for the shorter drive. We are looking for a decent neighborhood - low crime and decent schools are a major factor. Our price range is 175k - 200k ish which we had originally thought was impossible in CA, but we have noticed a huge crash and things seem more affordable now. Can anyone chime in about Temecula or Murrieta? They seem good from what I can tell. Or any other city recommendations would be much appreciated!

Thank you!
meganinaz,

Murietta and Temecula are not in San Diego County, they are in Riverside

Temecula is safe, nice and they supposedly have good schools. Murietta is right next door, but you can get more house for the same price. I am unsure about schools there.

Prices have come down significantly since peak in those areas. However, keep in mind, that well over 95% of homes listed are short sales. I am not sure if you have heard on the news about them, but they can be hit or miss in regards to time frame between submitting an offer and having the lender(s) agree to that offered price.

Even 175-200k is a bit tight for anything over 2k sq ft. I am not saying impossible, but I have been watching prices tick up slightly around there so just something to be aware of.
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Old 01-18-2012, 06:33 PM
 
Location: Mission Hills, San Diego
1,471 posts, read 3,339,744 times
Reputation: 623
^ I just saw something that said prices in SD county are still creeping down...Guess it depends on the source. I understand the short sale process can be hellish....in large part b.c of the wait. But your situation sounds flexible so maybe it could work.
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Old 01-18-2012, 07:00 PM
 
Location: 92037
4,630 posts, read 10,274,962 times
Reputation: 1955
Quote:
Originally Posted by Clevelandgal View Post
^ I just saw something that said prices in SD county are still creeping down...Guess it depends on the source. I understand the short sale process can be hellish....in large part b.c of the wait. But your situation sounds flexible so maybe it could work.
Yes most of the reports are in hindsight plus prices inching down may only be marginal and by then, it will have either flattened or started heading up. Who knows with these 'experts'
I just look at DOM, list price, sale price over the course of the past 3 months. There is a sweet spot for fast moving sales in each respective zip code.
Plus I am seeing a ton more sale pending status hitting a lot faster which may indicate that banks are actually starting to loosen up slightly.

I forgot to add for the OP. If short sales are not a problem for you, then your best bet would be to look at ones that are pre-approved already.

What may be misunderstood about short sales is the teaser price. Many times when a house is first listed requiring a short sale approval, it is a lure to get you to put in an offer to initiate the actual short sale process.
If the price seems to good to be true or is "cheaper" than other houses, that should send a red flag. There is absolutely no bank that would simply give the house away just because its a short sale. Comparable sales are still a very big part of the bank accepting your initial offer as well as the current owner's status in ability to pay.

Its best to work with an agent that really understands the process.
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