Why are historic houses in Santa Ana so cheap compared to other places? (Oakland: real estate, apartment)

[blam]

There is a couple of houses near Downtown Santa Ana built in 1920 or before. Huge and very pretty. Some of them recently restored. Prices are around 550 and some even below 500. Why are those so cheap compared to other parts of Orange County?

those houses in Santa Ana

1. no hoa
2. looks awesome/historic
3. huge house
4. huge lot
5. 500k

while houses in Lake Forest

1. hoa
2. looks like crap
3. big size for 800k+, normal size 700k, apartment size 600k
4. small lot


Is the only drawback here that its in Santa Ana? Or am I missing something else here?

[PoppySead]

I could be wrong but I think it's because of who you're neighbors will be.

[Renatorian]

I agree with the previous poster. Think about the area and school districts your kids would be in. It's a shame too because those houses have so much character and have backyards!

[rsmfan]

While I love beautiful and character ridden older homes (looking at Zillow Floral Park the other day), newer ones tend to have less maintenance required. Earthquake insurance is a lot less-due to more stringent codes on the newer homes. Lake Forest is generally safer area on earthquake map. Some busy people view a large yard as more to maintain.

These points are probably minor factors in the entire scheme of things, but they are something I would consider.

[Curmudgeon]

Originally Posted by PoppySead

I could be wrong but I think it's because of who you're neighbors will be.

That was my first thought.

[RudyOD]

Some of the best Santa Ana has to offer in terms if historic homes, is also in the worst parts of the city crime wise. The parts of Santa Ana I personally consider a decent area to live in, don't have those homes, but rather typical post 1950's tract ranch homes (well taken care of, and in good neighborhoods)...some slightly newer ones bordering Irvine, and also lots of mediocre apartment/condo housing.

For example, French Park...if that neighborhood would to be cleaned up and simultaneously maintain its historic flavor...that would be spectacular. Not to mention that it is right next to the burgeoning scene in Downtown/East End/Art's district in Santa Ana...basically walking distance from some great bars, lounges, restaurants, cafes, art galleries.

[matzoman]

Too close to OCJ. No one likes to think about jail while sitting on their porch swing.

[RudyOD]

Originally Posted by matzoman

Too close to OCJ. No one likes to think about jail while sitting on their porch swing.

Hasn't stopped Little Tokyo or the Arts District in DTLA from being the hot zones they are today (and rather expensive real estate) even though they are around the corner from LA's Men's Central Jail...even Chinatown is doing better these days, and that's right across from it. The jail in Santa Ana is not even as big, and the architecture even makes it look like just another civic building. I think the homeless in the area (Civic/court houses), might be more of a detractor for people than the jail itself.

[bowneline]

Originally Posted by blam

There is a couple of houses near Downtown Santa Ana built in 1920 or before. Huge and very pretty. Some of them recently restored. Prices are around 550 and some even below 500. Why are those so cheap compared to other parts of Orange County?

I think there are a few contributing factors:

1. Schools are terrible. Good schools can add hundreds of thousands of dollars to a houses' price, and bad schools can subtract hundreds of thousands of dollars.

2. Neighborhood still a little run down. French Park, for example, has a great housing stock, but the area is still a little run down. Peppered among the neat old houses are over-crowded, run down apartment buildings, and a lot of the old houses are showing serious signs of age (pealing paint, sagging roofs, etc). Compare this to Old Town Orange, where most of the houses are fixed up.

3. Bad Reputation. Santa Ana has a bad reputation in Orange County. A lot of people are weary of taking on a Santa Ana address.

5. Small size of gentrifying class in OC. Unlike places like LA, Brooklyn, Oakland, etc..., Orange County lacks the large group of young, hip, artsy types who have the desire and means to take over an old neighborhood. There is obviously an effort underway to make downtown Santa Ana more of a hip, artsy place, but I just don't see enough people willing to move into the area to change tide -- at least in the short term. Millennials are much more interested in living in a place like French Park, and as the generation matures and starts buying houses, maybe French Park will become more of a hot spot. We may look back 10 years from now and kick ourselves for not buying into French Park today, when it is still cheap.

Originally Posted by matzoman

Too close to OCJ. No one likes to think about jail while sitting on their porch swing.

Let me introduce you to James Musik Jail, a part of the Orange County Jails system. It's located in Irvine, a stone's throw from family orientated track homes in Lake Forest.

[matzoman]

Originally Posted by RudyOD

Hasn't stopped Little Tokyo or the Arts District in DTLA from being the hot zones they are today (and rather expensive real estate) even though they are around the corner from LA's Men's Central Jail...even Chinatown is doing better these days, and that's right across from it. The jail in Santa Ana is not even as big, and the architecture even makes it look like just another civic building. I think the homeless in the area (Civic/court houses), might be more of a detractor for people than the jail itself.

That is because it is LA. A cultural, vibrant star on the world stage. OC is still kind of a suburban backwater.