Is Perris, CA the next big real estate bubble boom??? (Riverside: home builder, neighborhoods)

[waltchan]

Because I've noticed there are more jobs with corporate business park built at city of Perris than others. And it's closer to Menifee, CA where one day all the newer homes will cost over $600,000, making Menifee unaffordable easily. Perris, CA homes start at only mid-$200,000s for the worst area right now, and can go mid-$500,000s easily if gentrification occurs.

I also debate Moreno Valley, CA too, but it suffers from overbuilding during the mid-1980s to mid-1990s, and Riverside, CA doesn't work hard to make it a tourist city. But, UC Riverside does help create economic job opportunities around there.

Is it best to start at the cheapest price like Perris with highest-return appreciation gain, or is it better to go for mid-$400,000s in Audie Murphy Ranch community in Menifee (with smaller return rate than Perris)?

[loniblaze]

How is Perris now? Thinking of building some homes there.

[apple92680]

I knew this had to be a "waltchan" thread before I clicked on it...

[forzalugano]

Perris is a nightmare, when on the freeway one can only hope to not need gas or break down, until you get past the city.

[jbearnolimits]

It really depends on your goals. If you are looking for a quick flip you can find some lower cost homes you can fix up. But it sounds like you may be thinking more along the lines of building equity with appreciation over time. I've noticed a lot of new builds there. So I do believe it will be growing. But right now is NOT a good time for buyers looking for a quick buck. The interest rate is going up now and it's still a sellers market.

[Dub D]

Perris sucks.

Everyone goes to Temecula or Murrieta in that area.

[loniblaze]

How is Perris now, post covid? We are thinking of developing 5 lots of property out there again. My friend really thinks it's a good spot and going to come up.

[antredd]

Originally Posted by loniblaze

How is Perris now, post covid? We are thinking of developing 5 lots of property out there again. My friend really thinks it's a good spot and going to come up.

Perris may become the next hotspot now that Menifee has become a safe, thriving, and premier city. What could happen is that buyers who can't afford Menifee will gravitate to the nicer new neighborhoods of Perris, and thus demanding many of the same nice amenities and stores that Menifee has.

[waltchan]

Originally Posted by antredd

Perris may become the next hotspot now that Menifee has become a safe, thriving, and premier city. What could happen is that buyers who can't afford Menifee will gravitate to the nicer new neighborhoods of Perris, and thus demanding many of the same nice amenities and stores that Menifee has.

Plus, Homeland, CA as well where KB Home builder is building a lot of communities there now.

[NORTY FLATZ]

Originally Posted by waltchan

Plus, Homeland, CA as well where KB Home builder is building a lot of communities there now.

What about Romoland?