Southwest Riverside County, also known as the Southwest Inland Empire, has historically been one of the most dynamic real estate markets in the United States. While property values have soared in good times and dropped in the recession, the quality of the land and its strategic location, have made this region one of the premier Class A areas for future development and the Rancon Group has focused on this specific area for more than four decades.
Overview of Southwest Riverside County
Southwest Riverside County has historically been one of the nation’s hottest real estate markets. Located between the San Diego and Los Angeles metropolitan areas, and contiguous with Orange County to its west, Southwest Riverside County is experiencing unprecedented growth in part because of build-out and price barriers in the other three metropolitan areas, and in part because it is just a great place to live.
This area covers approximately 600 square miles and includes the cities of Temecula, Murrieta, Menifee and Wildomar and the unincorporated areas of Winchester and French Valley. Temecula and Murrieta — known as the “Twin Cities of Southern California,” — both have populations exceeding 100,000 and are both approaching build-out of developable land. Menifee and Wildomar are strategically located along the area’s two growth corridors: the I-15 and the I-215. Both are growing young cities anxious to expand their tax base and populations.
Winchester Valley is located just east of Menifee along the Domenigoni Parkway, a six-lane major thoroughfare completed, with the help of the Rancon Group, in 2006.
In the heyday of the last building boom more than a dozen major builders took positions in the Winchester Valley and shared a themed vision known as Winchester Ranch. Today, many of the approved plans for subdivisions are still in place as are the plans for the underlying infrastructure. Some major infrastructure components including sewer are still in the finance/planning stage. While the recession stalled development in this key area, the new wave of demand for new housing will definitely find its way back to the Winchester Valley.
The French Valley area grew significantly in the past decade to the point where only fill-in properties are now available for new homebuilders. This is an area along State Highway 79 / Winchester Road and just east of both Temecula and Murrieta. French Valley is in the natural path of development, and will likely reach build out during this current cycle of activity.
The growth in Southwest Riverside County during the past two decades has occurred because of population saturation in Los Angeles, San Diego, and Orange counties. Residents from all three counties have migrated to Southwest County to purchase more affordable housing, while still having a manageable commute to work.
All three of these bordering counties have grown toward each other historically, and because of the geography — Pacific Ocean to the west, U.S. / Mexican Border to the south—the pattern of growth is naturally funneled toward Riverside County. Southwest Riverside County, due to its location, climate and infrastructure, is the most desirable area to live in Riverside County, according to the Southwest Riverside County Economic Development Corporation.