> MCR City Report
Temecula: California's Old Wine Country Yields Vintage Home Sales
by Blanche Evans
Temecula, California is an upscale community with easy access to San Diego and Los Angeles. Located in the old wine country, the city was only incorporated in 1989. "Located just north of the San Diego/Riverside county borders," says Realtor Will Stroud, "Temecula is situated in the southwest section of Riverside County and is within commuting distance to San Diego, Orange, Los Angeles and San Bernardino counties." "Located in the southwestern corner of Riverside county along Interstate 15, this upscale community draws many of its residents from neighboring San Diego county," explains Stroud. "This young city was primarily carved out of the old western section of historic Rancho California's wine country." Among the amenities, Temecula's public schools are considered by many to be on par with California's best and the overall crime rate is very low, says Stroud. "The city of Temecula has been carefully planned and takes pride in it's varied cultural offerings," he says. "Many of its historic structures are open to general public. Temecula has built a wonderful foundation and shows a strong commitment to being a significant part of Southern California's future." Say Realtors Sidney and Susan Kutchuk, "Resale inventory is up giving buyers more choices, however we continue to see few price reductions on the resale homes. Overall the price trend continues upward. Cost per square foot is up to about $165.00 approximately." The Kutchuks advise, "Many new homes are coming on line, so we expect builders to be offering incentives. This will put added pressure on the resale market. Interest rates are holding steady. Buyers waiting on the sidelines are going to be the big losers, as prices are not trending down. Our clients who we have helped purchased homes have all seen the value of their homes/investments go up by 15 to 25 percent. Houses under $300,000 have all but vanished." "The Temecula market is being driven by continued low interest rates, a growing job market and a rising number of households moving into this beautiful valley," says Realtor Dee Messing, "We will continue to see strong sales going forward, with 2004 likely to be the second-best year on record. This is good news for first-time buyers, as low interest rates allows them more purchasing power. Sellers' net cash has never been higher, now is the time to cash in or move up." | 
