Projects of La Cresta Development

Housing Snapshot - Murrieta / La Cresta / Santa Rosa Plateau

Murrieta/Santa Rosa Plateau/La Cresta is a beautiful setting of valleys and plateaus surrounded by rolling hills, snow-capped mountains, and plenty of wide open spaces. This rapidly growing upscale family community also boasts a top rated school district.

Nestled in the hills of Southwest Riverside County, the area features numerous golf courses, convenient local shopping, including the first-class Temecula Promenade Mall, modern schools and rare recreation. There are many opportunities to enjoy activities not available to residents of the more urban areas of Southern California, such as boating, water skiing, fishing and swimming. Residents have their choice of local lakes: Lake Perris, Lake Elsinore, Lake Skinner or Diamond Valley Lake. There are many local museums, casinos, world-class skydiving, hot air balloons, wine-tasting and more. People come from miles away for the annual Wine & Balloon Festival and events in the fast-growing Temecula Wine Country - only a few exits down the freeway. The Santa Rosa Plateau also hosts the best hiking trails in Southern California, along with excellent sites for camping, picnicking, horseback riding, and dirt biking.

Once known for breeding race horses, Murrieta still has lots of wide open spaces, populated with small ranches, farms and vacant land, for the families that enjoy a more rural atmosphere. This charm, coupled with city conveniences, makes this area a rare gem.

2004 proved to be a strong Real Estate year in the area with prices increasing 20-25%. 2005 has started out with a series of rain storms. However, inventory is increasing with the advent of the approaching Spring market. Murrieta is attracting job growth in all sectors of the economy. Verizon is installing a complete fiber-optic DSL network for the entire city and this is helping to drive businesses to Murrieta. There is an increased demand for housing here. The school system is excellent as are the sports and extra curricular activities. Fixed Interest rates are in the high five to six percent category. Adjustable rates are contributing dramatically to the housing market as the affordability index allows the Buyer to get more house for the dollar. Activity is really picking up as we are getting towards the Spring Home Buying season. There still is a steady influx of buyers from Orange and Los Angeles counties as well as people from other areas of the country looking for this magical blend of country and city.

The Murrieta housing market has stabilized over the past few months with more available inventory for the buyers and less volatile pricing. Houses in the $300,000 - $600,000 range are selling well. Housing over $600,000 is remaining on the market on average 8 to 12 weeks. The market on the Santa Rosa/ La Cresta Plateau remains strong with somewhat reduced inventories (very few homes under $900,000) but local Realtor’s agree that they see the market slowly trending to the buyer’s side.

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