SmartZip Temecula Top 10 Real Estate Investment Market Report July 2009
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TM July 2009 | www.SmartZip.com Local Expert Insights • Residents attracted to the high quality of life and low cost of living, nice neighborhoods, great weather, wine region, lots of open space, and low crime rate • Very affordable, bedroom community with home prices now in the $90 to $110 per square foot range, attracting couples and young families who want to own their own homes • Low inventory level means that homes are now selling as fast as they come on the market with multiple offers • Short sales may remain active in the MLS after an offer is submitted to the bank, making supply appear larger than actual Overview Temecula is a city located in the southwestern part of Riverside County, California. Temecula lies about 86 miles southeast of Los Angeles and 60 miles north of San Diego. The community grew steadily through the 20th century, with dramatic changes taking place in the 1970s following the onset of large-scale subdivision and the development of real estate. Temecula today is the site of one of California’s oldest wineries, and Temecula Valley serves as one of the state’s small but significant wine producing regions. Temecula is also home to military families from nearby Camp Pendleton, MCAS Miramar, March Air Reserve Base and the Navy bases in San Diego. TEMECULA, CA Key Investment Metrics Average SmartZip Score™ 69 Growth 57 Income Average Market Value: $281,666 $131 per Sq. Ft. 10-Year Proj. Appreciation: 47% Average Monthly Rent: $1,833 Average Cap Rate: 2.9% 10-Year Proj. Population Growth: 49% On the Map
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SmartZip's Analysis and insights into Temecula, CA as a fundamentally strong real estate market for investors and homebuyers, based on SmartZip's investment ratings and local insights
Transcript of SmartZip Temecula Top 10 Real Estate Investment Market Report July 2009
TMJuly 2009 | www.SmartZip.com
Local Expert Insights
• Residents attracted to the high quality of life and low cost of living, nice neighborhoods, great weather, wine region, lots of open space, and low crime rate
• Very affordable, bedroom community with home prices now in the $90 to $110 per square foot range, attracting couples and young families who want to own their own homes
• Low inventory level means that homes are now selling as fast as they come on the market with multiple offers
• Short sales may remain active in the MLS after an offer is submitted to the bank, making supply appear larger than actual
Overview Temecula is a city located in the southwestern part of Riverside County, California. Temecula lies about 86 miles southeast of Los Angeles and 60 miles north of San Diego.
The community grew steadily through the 20th century, with dramatic changes taking place in the 1970s following the onset of large-scale subdivision and the development of real estate. Temecula today is the site of one of California’s oldest wineries, and Temecula Valley serves as one of the state’s small but significant wine producing regions.
Temecula is also home to military families from nearby Camp Pendleton, MCAS Miramar, March Air Reserve Base and the Navy bases in San Diego.
TEMECULA, CA
Key Investment Metrics
Average SmartZip Score™ 69 Growth
57 Income
Average Market Value: $281,666
$131 per Sq. Ft.
10-Year Proj. Appreciation: 47%
Average Monthly Rent: $1,833
Average Cap Rate: 2.9%
10-Year Proj. Population Growth: 49%
On the Map
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About the Top 10 Markets The SmartZip Top 10 Markets™ is a featured list of the top rated markets hand-picked by our panel of investment analysts. Candidates for the list are identified using our proprietary SmartZip Score™ ratings averaged across the Growth and Income investment strategies. Learn more at www.SmartZip.com
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