Orange County is not luxurious (San Diego, Garden Grove: car insurance, credit card, how much)

[Wurzig]

Even though I haven't read all of this thread, it seems to have created hysteria and hostility among some members who usually have fairly balanced input.

Class can be found in all walks of life. Stated simply, it is not measured by how much one has in a bank, the type of car one drives, the size or location of a house in which one lives or bragging or flaunting anything else that is material. Only one form of wealth is measured by dollar amounts.

California is a huge state with good weather, various climates, great views and an immense population. All types of people live here, just as they do in other states. Because of all the variances, California attracts a lot of media attention, which is sometimes not in the best interest of the state. Not all people living by the beach get botox treatments and not all people living inland in very small desert towns make crystal meth in their kitchens. Stereotyping only shows ignorance. For what's it worth, California became the 31st state in 1850, so it's not that old compared to a lot of others.

[Charles]

Originally Posted by Raelyn28

Attachment 44214


This is an unbelievable comparison to me and proof that Orange County is totally over-rated and over-priced. Click on the pic and see what I mean. Wow!! Talk about rip-off in California. No thankyou... I choose to live elsewhere and don't care what amenities OC has to offer.. It just isn't worth it...

I understand and sort of agree with point of that post. However, in all fairness, that comparison is strictly a $/sqft and external aesthetics (from the photos). We don't know anything about the schools, the neighborhood, the job potential, and other things that drive the housing price. (Yes, I realize a lot of Santa Ana has a less than stellar reputation.)

Would that OKC home ($113/sqft) be overpriced if it were $450K ($155/sqft) in OC?

Some people think that's were OC prices are heading, below $200/sqft in nicer areas. That would be more consistent with the incomes. If that happens, then the comparison argument would become less valid.

[Raelyn28]

You could not get a house like that in OC ever for under 500K.. It will never happen. Maybe a foreclosure if you win the bid which is extremely hard. Look at some of the prices on these threads. And regarding the schools and everything else that you mentioned. Schools are outstanding in Oklahoma, sports are amazing and there are many jobs. In fact the market has really not been hit at all in many other states and equity is still climbing. I think the PNW in general is really having major problems. I am sorry.. but I lived in OC, been there and done that. I would not want to return to a 1300 sq ft. roach infested tin can and pay the prices they are asking. I just think it is a rip-off and no amount of beach time is going to convince me differently...

Originally Posted by Charles

I understand and sort of agree with point of that post. However, in all fairness, that comparison is strictly a $/sqft and external aesthetics (from the photos). We don't know anything about the schools, the neighborhood, the job potential, and other things that drive the housing price. (Yes, I realize a lot of Santa Ana has a less than stellar reputation.)

Would that OKC home ($113/sqft) be overpriced if it were $450K ($155/sqft) in OC?

Some people think that's were OC prices are heading, below $200/sqft in nicer areas. That would be more consistent with the incomes. If that happens, then the comparison argument would become less valid.

[Raelyn28]

You are right with some of your opinion, certainly money doesn't buy anything but then again I still think that OC is completely over-rated. I think it is in fact a rip-off to pay that kind of money for that type of house. I just simply refuse to do it. I would rather live in a tent and save my money... Just my thoughts...

Originally Posted by Wurzig

Even though I haven't read all of this thread, it seems to have created hysteria and hostility among some members who usually have fairly balanced input.

Class can be found in all walks of life. Stated simply, it is not measured by how much one has in a bank, the type of car one drives, the size or location of a house in which one lives or bragging or flaunting anything else that is material. Only one form of wealth is measured by dollar amounts.

California is a huge state with good weather, various climates, great views and an immense population. All types of people live here, just as they do in other states. Because of all the variances, California attracts a lot of media attention, which is sometimes not in the best interest of the state. Not all people living by the beach get botox treatments and not all people living inland in very small desert towns make crystal meth in their kitchens. Stereotyping only shows ignorance. For what's it worth, California became the 31st state in 1850, so it's not that old compared to a lot of others.

[antibes]

Originally Posted by Charles

When homes average $650K and every TV show portrays the lives of the rich, sexy, and famous, what else are folks in Iowa going to think?

ha ha ha!

So true.... I don't think Irvine, Mission Viejo and so on is much to be impressed by either.

[Charles]

Originally Posted by Raelyn28

You could not get a house like that in OC ever for under 500K.. It will never happen.

I'm not so sure this is true. Maybe not now, but perhaps in a year. Still, differences of 20% on a per square foot basis might be acceptable to live in Southern California. That is, I'd bet a lot of people would say "OC is only 20% more than OKC? Sure, I'll take OC." Three years ago it was 200% more - not any more.

A lot of people feel home prices aren't near the bottom yet. Here are a couple of recent sales in Orange County for maybe not exactly the same thing but in the ball park. These are recent sales data, not asking price.

Here's one in San Juan Capistrano, 4+2.5, 3100sqft, sales price $396K ($128/sqft)

33606 Avenida Calita, San Juan Capistrano, CA 92675 - Zillow


Westminister 4+2.5, sales price $453K, 3063 sqft ($148/sqft)

10111 Northampton Ave, Westminster, CA 92683 - Zillow


Westminister, 4+2.5, 2700 sqft, sales price $500K ($185/sqft)

10302 Wembley Cir, Westminster, CA 92683 - Zillow


Prices in OKC are probably similar to Huntsville. We paid $140/sqft for an A+ neighborhood (Hampton Cove) in Huntsville. Prices in Huntsville start at $75/sqft but for "decent" neighborhoods in good school districts, it is at least $100/sqft.

Bottom line: OC prices don't have much farther (maybe 10%-20%) to fall to be reasonably near (but obviously not equal) to OKC ($113/sqft). There is becoming less and less of a premium to pay to live in OC.

[threeactingup]

Charles, I think you are partially correct. The home prices are definitely correcting and I think the "sunshine tax" may come down to as little as 20%-40% higher than places like Oklahoma.

With that being said, I have been paying very careful attention to the real estate prices in both coastal and south Orange County for the past year and have to say that those home sales you are showing are aberrations at best. Right now average asking price on most single family homes (foreclosures included) are still above $300/sq foot. Selling price is in the $270/sq foot.

There are still a lot of delusional home sellers out there--whether they are bankers, realtors or owners they still seem to think this is a much hotter market than it is. Homes that sell quickly are the ones that price ahead of the downward curve and sadly those are few and far between. Most people chase the market down. They believe into the hype that the economy is turning around. Nationally, that is true; California, not so much.

As for my family, we are refusing to buy before it is time. We are resolved to live well beneath our means until we are comfortable with the price point. A point that will allow us to not only make our mortgage but pay those other pesky bills, like orthodontics, cars, piano lessons, college, vacations, groceries, clothes, and retirement. Granted, not all of those are necessities, but I believe what is the point of living in the dream house if you can't afford the whole dream?! Maybe that will be an attitude that will keep us permanently locked out of home ownership in Southern California, I don't know. But, if it does I will have a "sack full" of money to buy the dream in Oklahoma City.

[nmnita]

Originally Posted by Humanoid

I grew up in the LA area and lived a bit in Orange County (Irvine) and I can't help but laugh at some impression "outsiders" seem to have of the area.

To me the area is just your normal middle-class suburban area of California, but recently its been caste as some sort of upper-class area.

Anybody else get a laugh about this stuff?

I am pretty much in agreement but there are parts that I was say are upper middle class. Much of the area, expecially the older parts are basic port WW2 track homes, not large, not large yards and attract the middle income buyer.

Nita

[Raelyn28]

It is interesting that there is not a picture of the house on the link which means that perhaps the house is not very nice or in horrible condition. Charles... I have friends and relatives that live in OC. When people from that area come and visit us they are shocked about the amount of house that we have for the money that we paid and this is Washington!! You can stick up for your area as much as you want but in all honestly when the rubber meets the road you are not going to find a very nice home in OC that is affordable to the average person. Dream on Charles... Hopefully you are right but I doubt if it will ever happen. The Land is just too expensive there....

Originally Posted by Charles

I'm not so sure this is true. Maybe not now, but perhaps in a year. Still, differences of 20% on a per square foot basis might be acceptable to live in Southern California. That is, I'd bet a lot of people would say "OC is only 20% more than OKC? Sure, I'll take OC." Three years ago it was 200% more - not any more.

A lot of people feel home prices aren't near the bottom yet. Here are a couple of recent sales in Orange County for maybe not exactly the same thing but in the ball park. These are recent sales data, not asking price.

Here's one in San Juan Capistrano, 4+2.5, 3100sqft, sales price $396K ($128/sqft)

33606 Avenida Calita, San Juan Capistrano, CA 92675 - Zillow


Westminister 4+2.5, sales price $453K, 3063 sqft ($148/sqft)

10111 Northampton Ave, Westminster, CA 92683 - Zillow


Westminister, 4+2.5, 2700 sqft, sales price $500K ($185/sqft)

10302 Wembley Cir, Westminster, CA 92683 - Zillow


Prices in OKC are probably similar to Huntsville. We paid $140/sqft for an A+ neighborhood (Hampton Cove) in Huntsville. Prices in Huntsville start at $75/sqft but for "decent" neighborhoods in good school districts, it is at least $100/sqft.

Bottom line: OC prices don't have much farther (maybe 10%-20%) to fall to be reasonably near (but obviously not equal) to OKC ($113/sqft). There is becoming less and less of a premium to pay to live in OC.

[stillkit]

There's a Nieman Marcus store in Newport Beach. That tells you where the money is. If there's no rich folks around, there ain't no Niemans. The only other one in the LA basin is in Beverly Hills.