Is It Time To Invest In Southern California (Temecula – Murrieta) Real Estate?
I own a Temecula – Murrieta, CA. property management and real estate company. I am often asked whether investing in rental homes in Temecula and Murrieta is a good investment. I tell people it all depends. In the years 2004 – 2008 Southern California real estate experienced a huge bubble. People were buying homes with the hope of renting them out for a year or two and then selling them when the homes increased in value by 50% – 100%. This was especially true in the cities of Temecula and Murrieta. Both cities had experienced incredible growth in a short period of time. In 1997 the population was 25,000. In 2007 the population was 125,000. This growth was fueled by cheap housing and lax lending practices. Unfortunately, most people who buy in a bubble environment with a short term horizon lose. People were paying inflated prices for homes and then renting them out and running huge monthly negatives. People didn’t care what they paid or what the monthly loss would be. They focused on wha
