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In the Old West gunslingers walked the streets, stage coaches rattled into town, and the buildings had distinctive wooden facades. Well, the days of the Old West are long gone, but there is at least one place where it still lives: Old Town Temecula.
Temecula’s old town looks the part of an Old West town. The streets are lined with historical buildings that date back to the 1800’s and the turn of the century and have preserved the style and character of that period. These old buildings look like they were built as part of a movie set, but they are a part of real history.

Some of Temecula’s Wild West history is somewhat more tarnished than the Wild West we see in the movies. An old mass grave outside the town bears accusatory witness to the Temecula Massacre of December, 1846.

2009 also marks a brighter spot in Temecula’s history. Temecula’s first Post Office opened 150 years ago, and was only the seventh one in California south of the Tehachapi Mountains. At the time the Post Office operated out of Magee Store, though it has moved several times since. The office opened in 1859 just 9 years after California became the 31st state in 1850.

Temecula revels in it rough and tumble history and that is never more evident than during the annual Western Days celebration that is held each year in May. During Western Days, costumed actors walk the streets as Old West characters performing humorous skits to the delight of Temecula residents and those who travel to the city for the occasion. The festival also includes a working blacksmith exhibit, a calf roping lessons, live music and more. For many, the culmination of Western Days is Old Town Temecula’s Chili Cookoff. This event is a sanctioned International Chili Society district cook off and brings out fierce competition each year.

This year there will also be a Halloween themed recreation of the Old West with the ghosts of Old West figures walking the streets and hiding in three haunted mazes set up in Old Town Temecula for the first annual Haunted Old Town celebration. Visitors to Old Town Temecula during this six day event might mistake it for a true Ghost Town!

Its historic buildings and the actors taking part in the Old Town celebrations aren’t Temecula’s only tie to the movies. The city was also home to Erle Stanley Gardner who created that famous TV and movie personality Perry Mason, who could make any hardened criminal crack on the witness stand and betray his guilt.

Residents of Temecula enjoy Old Town’s Wild West character and the many celebrations the city offers each year as it tries to recapture the events of America’s not so distant past.

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The real estate market across the country was decimated in 2008 due to the subprime mortgage crisis and the general economic downturn. Houses sat on the market without interested, or at least qualified, buyers. Sellers were left with empty houses and hefty bridge loans.

The Scottsdale market has been no exception to this countrywide trend. By March 2009, there were over 6,000 homes for sale and the average sales price had dropped to $484 thousand. Housing inventory has been building up and the market has been slowing to almost a halt. April, however, is seeing a change for the positive. Sales are beginning to pick up as new buyers enter the market.

There are several reasons why buying a house in Scottsdale right now may be a great move for you. The first is that it’s a buyers’ market. With the large inventory on hand, buyers can pick and choose what they are looking for. Sale prices are flexible in a buyers’ market and there are definitely deals to be had.

The second reason is that mortgage rates are bottoming out. If your credit is solid, financing a home purchase through your bank right now makes sense. A half point drop in a mortgage rate could mean tens of thousands of dollars saved over time.

The third reason is that the Obama administration has announced a housing recovery plan that allows for personal tax credits for first time homebuyers and for homeowners who make certain upgrades to their house to make it more environmentally sustainable. It has never been easier for first time home buyers to enter the market in Scottsdale.

All of these things are good news not only to those in the market to buy or upgrade a house in Scottsdale but also for investors. Prices for home purchases have dropped but rentals have not. That means that buying a house or condo to rent to tenants will result in bigger profits for the investor, who will be paying a lower mortgage rate for the same house value. There are also more renters in this economy than the norm- those who are hesitant to purchase a home right now until things turn around. Scottsdale continues to enjoy a low vacancy rate due to the city’s appeal for those looking for a great climate and a vibrant city.

There are many theories on when the housing squeeze will end in the country and in Scottsdale in particular. While no one knows for certain, the market is ripe for picking right now. Housing prices will eventually begin to rise again as will mortgage rates. Locking in deals now may make a huge difference to your bottom line over time. Scottsdale will always be a popular relocation spot and, when the overall economy begins to recover, Scottsdale’s real estate market will be at the front of the line.