| Frequently Asked Questions |
| How much is housing? |
The median price for detached homes is $117/square foot, or around $234,000 for a 2,000 square foot home. Condos range from about $90,000 for a 2-bedroom apartment conversion to $140,000 for a 3-bedroom with attached 2-car garage, but the vast majority of properties are single family homes - Temecula is the land of suburbia! $350,000 - $450,000 will get you a beautifully upgraded McMansion with a view. |
| Didn't the foreclosure crises take its toll on Temecula neighborhoods? |
This was true initially, but neighborhoods have greatly improved since the crash. Foreclosure properties are better cared for, and because loose lending standards are a thing of the past, more owners have "skin in the game". |
| How much are property taxes? |
Taxes usually fall between 1.1% and 1.5%, depending on the area. On the plus side, HOA fees are quite low when compared to properties in other areas with the same amenities. |
| How good are the schools? |
The Temecula Valley school district scores very well compared to other districts in southern California. For academic perfomance scores, see the district web site. |
| Where is the best weather in Temecula? |
As a general rule, the closer to the southwest corner of the city (near Pechanga), the cooler the temperatures. |
| Is it a good time to buy in Temecula? |
The short answer is yes, but another good answer is "it depends." Will prices go lower? In all likelyhood, yes. Prices are higher now than they were in the fall/winter of 2008. Make no mistake about it, the higher prices are not due to any kind of recovery. They are being propped up by government intervention (e.g., the tax credit) and high demand due to low inventory, public perception of a recovery, and investor activity. Maybe instead of $100/square foot for a great property, you'd pay $120 today. While it may hurt to think about that extra money, you may also want to think about coastal buyers paying $300-$800/square foot, and how their neighborhoods and schools are no better than Temecula's. There is no question that the value for your money is excellent. |
