Tuesday, November 6, 2007

Where are the best deals?

If you absolutely had to buy a house and location did not matter where are the best deals. Looking around the IE (excluding the deserts) the lowest prices and largest price cuts are in Menifee, San Jacinto, Hemet, Murrietta and Lake Elsinore. In those cities many of the newer tracts are in a world of hurt. It's not hard to find newish homes selling for under $100 sq/ft and there are just loads of them under $120 sq/ft. Six months ago finding a home under $100 sq/ft was a pipe dream even out in San Jacinto most homes were over $150 sq/ft. Not only can you find homes under the magic $100 sq/ft mark I was actually able to find a few under $90 sq/ft!

What kind of "deals" am I talking about? Well, How about a 3000 sq/ft home built last year for $250k! That my fellow bears is $82 per sq/ft!

1146 Newberg Commons, San Jacinto, CA 92582


And to prove that it's not a fluke we have 665 DRAKE DR, this one is 3148 sq/ft and it's listed for $269k or $86 a sq/ft!



This one technically is not under $90 sq/ft but I bet if you could buy it for under it. 455 Peregrine LN This home is a big one story home that is new, as in never lived in. It's 3279 sq/ft 3 bed/3 bath and it's listed for $299k or $91 per sq/ft.

There are several others on Redfin that are in the low $90s per sq/ft that I'm sure you could pick up for under that if you wanted to live out in "hell-n-back". (no offense meant to residents of San Jacinto but the city is waaaaay out there).

14 comments:

Anonymous said...

Calling San Jacinto a city, is an insult to cities. Hemet is an overgrown dump, where people used to leave their elderly hoping the elements would take care of them. I believe thats where its headed once again.

Anonymous said...

those are trailer trash towns, $90/sqft is too much for living in redneckville!

Anonymous said...

It's nice to see the prices starting to fall below $100 a foot but those guys are right San Jacinto is a pit. And Hemet is not any better. Menifee is only slightly better. Where do people work that live out there? It's miles to the nearest freeway down some two lane road.

golfer_X said...

Well, I did say it was out in hell-n-back! I just report the facts as I find em, maam!

I dunno where people work that live out there. I agree that most of that valley is a dump. There are a few newer developments out in south east Hemet that are nicer. But they are still in Hemet..... McSweeney Farms out by Diamond Valley GC looks very nice. If they could only move it to the OC and charge the same price life would be good.

Gnosis said...

Something wicked this way comes when it is regarding the drop in prices. It is helpful to see the changes in the outlying areas now, as we know they portend the changes to come very soon. Thx. Golfer.

Anonymous said...

Hemet rocks....a lot of rocks that is.

Rob Dawg said...

Hemet's rocks belong to Mojave before the wind started sucking.

Anonymous said...

Golfer_X,

Great blog...very informative and productive to read!! Can I request some research on Riverside's Orangecrest neighborhood some time in the future? I have some friends who bought there in 2005, and I'm worried for them!

Thanks!

golfer_X said...

orangecrest/woodcrest is in bad bad shape. Anyone that bought up there in the last 2 or 3 years is going to be upside down in a big way.

Lost Cause said...

San Jacinto...the nice part of Hemet.

Anonymous said...

Hemet is BF Egypt. There is a development out in the wilderness of S. State Street selling brand new homes for $300K. Lol.

Anonymous said...

Great blog!Thank you.
What about Norco?

Anonymous said...

I think all of you OC snobs should crawl out from under your LR3's and see that we are not white trash out here in Hemet. I grew up here and moved away for 10 years and I CHOSE to come back because it's a beautiful family community. I lived in Orange County and San Fernando Valley and I moved back here after getting my Bachelor's Degree! We're not a bunch of hicks, you small minded idiots!! You couldn't pay me to live in Orange County or should I say "Little Vietnam", where I would constantly have to deal with the snobs, the crime, and the unending, bumper to bumper, 24/7 traffic!!! Anyone living in OC, may be out of the desert but they are also out of their minds! Sincerely, Smart, Safe and Happy in Hemet!!! (the rest of you can go to hell, or should I just call it Orange County?)

Anonymous said...

i live in that development with the house on peregrine. the one story is actually 2372 sq feet.