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Old 07-01-2017, 11:35 AM
 
4,481 posts, read 2,285,932 times
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Quote:
Originally Posted by ihatedcu View Post
$250k

It was shocking how they got the loan approved with only $1700, out of pocket. I learned how they did it; pretty slick. FHA is the new ninja loan.
Pretty sure fha requires a minimum of 3.5% down.
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Old 07-01-2017, 11:48 AM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,142,657 times
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Quote:
Originally Posted by max210 View Post
Pretty sure fha requires a minimum of 3.5% down.
I read that it does and that seems to be 8750 on the mysterious 250k home in OC.
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Old 07-01-2017, 11:55 AM
 
Location: So Ca
26,731 posts, read 26,812,827 times
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Quote:
Originally Posted by ihatedcu View Post
$250k
Haven't heard of any homes priced that low in Orange County since 2012.
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Old 07-01-2017, 12:01 PM
 
101 posts, read 139,900 times
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685 sq. ft one-bedroom condo for $198k in Aliso Viejo (see Redfin).
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Old 07-01-2017, 12:19 PM
 
Location: Rust'n in Tustin
3,272 posts, read 3,933,909 times
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Quote:
Originally Posted by Farink View Post
685 sq. ft one-bedroom condo for $198k in Aliso Viejo (see Redfin).
550sq ft studio condo in Tustin just sold for $307k, offered at 299k
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Old 07-01-2017, 12:55 PM
 
5,381 posts, read 8,688,440 times
Reputation: 4550
Quote:
Originally Posted by Farink View Post
685 sq. ft one-bedroom condo for $198k in Aliso Viejo (see Redfin).
It would be a good buy at that price, but I suspect the seller is just trying to get eyeballs since a comparable in the same (dated) complex sold last month for $288,000.
https://www.redfin.com/CA/Aliso-Viej...6/home/5745711
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Old 07-01-2017, 01:27 PM
 
101 posts, read 139,900 times
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Oh, they price low intentionally--to get a bunch of interest and then have buyers get in a bidding war and ultimately it sells above asking price. This just happened on a property I made an offer on. It was a mil and twenty, with killer views and spectacular remodel. Closed for a mill and hundred. I think there were six offers on it.
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Old 07-01-2017, 02:13 PM
 
Location: Riverside Ca
22,146 posts, read 33,537,436 times
Reputation: 35437
Quote:
Originally Posted by Farink View Post
Oh, they price low intentionally--to get a bunch of interest and then have buyers get in a bidding war and ultimately it sells above asking price. This just happened on a property I made an offer on. It was a mil and twenty, with killer views and spectacular remodel. Closed for a mill and hundred. I think there were six offers on it.
The location isn't as important. Yes you can find something for 3-400k. There are some townhouses in the low 400s for sale. I don't really care about the property as much as I am interested as a lot seem to be abput claims of the home purchase for $1700 dollars. If such loan WAS available there would be a lot of interest.

I date to say creative financing will be the way houses will be bought.
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Old 07-01-2017, 03:13 PM
 
Location: Murrieta California
3,038 posts, read 4,776,406 times
Reputation: 2315
Quote:
Originally Posted by expatCA View Post
Nope, the 2000 one was one of the worst on record and I lived in CA in the 90's and 2000's. The 2000 recession was unique.
I lived in California through both recessions. I was a techie but neither recession bothered me.
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Old 07-01-2017, 07:49 PM
 
18,172 posts, read 16,398,084 times
Reputation: 9328
Quote:
Originally Posted by JohnSoCal View Post
I lived in California through both recessions. I was a techie but neither recession bothered me.
Yep, and neither one bothered me either.
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