The Truth about California from a former west coast Girl... (San Diego: amusement park, insurance)

[dancingirisheyes]

Very true. Unfortunately, the real estate market reflects the dream when it should reflect the reality.

[Raelyn28]

Wow!! This is the BEST post that I have read by anyone living in the area. I applaude you for your honesty... Be careful though, someone will come along and say that you are me or we are the same person with different user names. LOL, it cracks me up. All I have tried to do is help people who honestly don't know what they are getting into when they are looking to live in OC or any part of Southern Cal for that matter. I have tons of friends there and none of them own homes!! In fact, I have a couple friend (no kids) that live (rent) in an 800 sq. ft. condo and are staying in OC to inherit their parents home someday. They also own their own business. I am not trying to be negative, I just feel sorry for innocent people who come to this forum looking for honest answers and they get a bunch of pics of Malibu. That is just downright wrong and ridiculous to me. If I didn't care about people I wouldn't be here trust me because I don't live there anymore. I am just drawn here to help with all this denial. Thanks dancingirisheyes... You have been refreshing with your honesty.... Hopefully people will read this and do a lot more researching and reconsider...

Originally Posted by dancingirisheyes

California girl my entire life too. I've lived in the San Gabriel Valley, South OC, North OC and my sister's family lives in the Inland Empire.

I'm still surprised that California is so full of its own self-worth that the home prices are what they are EVEN in the middle of our economic crisis. I own my own business and my husband works for the government. We make $160K/year, have no credit card debt and we cannot afford a house. We could GET a house. But we'd be living check-to-check just to make the mortgage payment on anything that is in a modest, safe neighborhood with a decent school district. I think that says a lot when honest, hard-working people can't even get a modest home. My sister paid more than half a million for 1600 sq. ft. in Corona. CORONA! And even though she was able to move into the nicer areas of Corona, there is still crime happening every few months within blocks of her home! (Mainly attackers targeting women joggers or trying to take children). And what happened once the economy turned? Her rate increased, her mortgage went up so high she couldn't afford it and now she's looking at a foreclosure. Her husband has a great job, a higher education and excellent credit. In what world should a guy like that be losing his home?

California needs to wake up and realize its not all that its cracked up to be. The smog, the traffic, the crowds, the over-development, the lack of scenery, the fact that all of the activities are amusement parks and shopping malls, the crime, the terrible schools, the state's financial crisis, the overcrowded jail/juvenile units, the unrealistic social pressures that are poison for today's family unit, the earthquakes (which have been excessive in the past few months??!!) and the fires EVERY SINGLE SUMMER/FALL. Everyone raves about the weather and truly, November - June are beautiful. But the summers are miserable if you don't live near a beach. 110+ and smoggy..... not my idea of beautiful weather. And all of these things really lower the value of California in my eyes. I'm certainly not willing to pay half a million for a mediocre house here.

[dancingirisheyes]

Originally Posted by Raelyn28

I have tons of friends there and none of them own homes!! In fact, I have a couple friend (no kids) that live (rent) in an 800 sq. ft. condo and are staying in OC to inherit their parents home someday.

Well at the risk of people accusing me of being you incognito, I'm gonna say anyway that that is exactly our situation. On my side, neither of my parents have been able to afford a home in California. They were married young and started their family in the 80's when the economy was bad. They had a child with disabilities and were never able to get to a place financially to be able to save for a down payment. But doesn't that seem ridiculous that after all these years they couldn't eventually find a decent home in a safe neighborhood?

On my husband's side, his parents bought their home in the mid-70's and his grandmother bought the house next door. We've been waiting to inherit his grandmother's house but now that the economy is hitting another low, they've had to take out a line of credit against the house just to pay her taxes and medical expenses. So the house won't be able to go to us anymore.

And as I said before, we technically could get a loan for a house here but we'd be living check-to-check just to pay for it. And maybe that wouldn't be so bad if the house we were buying was worth what we'd be paying. But to pay $450K for 1600 sq. ft. when I could pay $350K and get 2500 sq. ft. elsewhere AND not have the smog and fires and social pressure and poor schools, etc etc etc. Its just poor stewardship of our finances to purchase here at this point. Its a shame too. I've lived here my entire life. I feel like my roots are here and I would love to continue that. But what's gonna happen when my children are married and they want to buy a home? If they find themselves in the same situation that we're in now, then maybe THEY'LL be the ones who have to pack up and move to another state. I don't want to risk that. I want to provide a financial situation for our kids that will at least give them the option of staying nearby, raising their kids near us if that's what they want.

[JohnG72]

Originally Posted by dancingirisheyes

We make $160K/year, have no credit card debt and we cannot afford a house. We could GET a house. But we'd be living check-to-check just to make the mortgage payment on anything that is in a modest, safe neighborhood with a decent school district. I think that says a lot when honest, hard-working people can't even get a modest home.

Well now thats just not true. It might have been true 3-6 years ago, but its not true anymore.

You can afford $450-600K pretty easily based on your income. There are a lot of decent areas with decent schools with homes in that price range.

[dancingirisheyes]

$400-$600K? No way. We couldn't afford that mortgage. We could squeak by with a 400K mortgage but we'd be living check-to-check. Gas, utilities, insurance, 2 car payments, preschool tuition, groceries, business expenses, college savings for three kids .... To be good stewards of our money, we need a $350K house. That's a mortgage we can handle without stress. And in Orange County, you can't find anything in a good neighborhood for that amount unless its about 1200 sq. feet, which is (in my opinion) a waste of our money.

We could move OUT of Orange County, head to Temecula or Corona I suppose. But I can't fathom paying for a house in an area with sweltering heat and especially not right on the San Andres fault line. If we have to leave OC, we may as well move to a place with weather we can tolerate.

I think that's part of this state's problem right now..... the reason we're seeing such an increase in foreclosures. We like the status of living in So Cal and people took out loans and bought homes that they thought they could afford if they tried hard enough.

[Raelyn28]

I am truly sorry to hear of your situation. Do you have to stay in OC because of a job in the area? I have read on these threads that because of the economy the housing market is coming down in that area? Have you checked into foreclosures?? Honestly if I had to live there I would probably live south of Irvine or maybe Hemet (not sure how far that is to your employment). I have heard of Hemet but have never been there. There just has to be a solution for you. That is also too bad about your grandmother. Many people are in trouble with mortgages throughout the United States right now. It isn't just Cali although I recently heard that the inland empire is in deep trouble financially. It is tough everywhere. We all just need to ride the tide right now and hopefully this will settle down. I feel for you and will be thinking of you. Thanks for sharing...

Originally Posted by dancingirisheyes

Well at the risk of people accusing me of being you incognito, I'm gonna say anyway that that is exactly our situation. On my side, neither of my parents have been able to afford a home in California. They were married young and started their family in the 80's when the economy was bad. They had a child with disabilities and were never able to get to a place financially to be able to save for a down payment. But doesn't that seem ridiculous that after all these years they couldn't eventually find a decent home in a safe neighborhood?

On my husband's side, his parents bought their home in the mid-70's and his grandmother bought the house next door. We've been waiting to inherit his grandmother's house but now that the economy is hitting another low, they've had to take out a line of credit against the house just to pay her taxes and medical expenses. So the house won't be able to go to us anymore.

And as I said before, we technically could get a loan for a house here but we'd be living check-to-check just to pay for it. And maybe that wouldn't be so bad if the house we were buying was worth what we'd be paying. But to pay $450K for 1600 sq. ft. when I could pay $350K and get 2500 sq. ft. elsewhere AND not have the smog and fires and social pressure and poor schools, etc etc etc. Its just poor stewardship of our finances to purchase here at this point. Its a shame too. I've lived here my entire life. I feel like my roots are here and I would love to continue that. But what's gonna happen when my children are married and they want to buy a home? If they find themselves in the same situation that we're in now, then maybe THEY'LL be the ones who have to pack up and move to another state. I don't want to risk that. I want to provide a financial situation for our kids that will at least give them the option of staying nearby, raising their kids near us if that's what they want.

[JohnG72]

Originally Posted by dancingirisheyes

To be good stewards of our money, we need a $350K house. That's a mortgage we can handle without stress.

You can't possibly be serious. $1590 a month. Thats what a $350K house with 20% down is. Are you seriously trying to tell me that you've been renting a house in a good area of OC with a good school district and I assume is 4 bed/3 bath at least and you have not been paying $2k a month rent? Really? Really?

Yeah, property tax, ins, maintenance blah blah blah, but you also get to write off the interest which at your income level is substantial.

Ya know, go ahead and move...if you don't like so cal, that is plenty fine. Im sure its not everyones cup of tea. But don't come here with your upper middle class income and make up false reasons why you don't like it.

I found a 2300 sq ft house in Fullerton listed at $475K and that does not seem out of whack with other nearby homes. 5 bed/3 bath. Built in the 50's but remodeled and updated with a modern kitchen, hardwood or pergo type floors and a pool.

$2157 monthly mortgage assuming you put 20% down and conventional loan at the current 5.5%. You would probably pay $8k less on your income taxes due to interest deductions....or $660 a month or something like that. Whatever, if a family making $160K a year can't afford that house, they are doing something wrong and I'd suggest that the problem is with the family, not with living in OC.

[pecosbill]

Hi all,

I have spent 3 days 2 weeks ago in OC and here is my 2 cents on why I still want to move to OC...
I am french and leaving in NJ (princeton area), I have been in US for 5 years.
I flew from Newark to Orange county airport, this is a very very convenient airport, flight early out with my rental car in 10 min...
Drow to Newport Beach (fashion Island) mid day no traffic. Went running on Balboa Island ( very nice place). Had dinner + movie + shopping in Tustin (former air base) Traffic was very fine for 5 PM, traffic lights but easy drive. Restaurant good nice, outdoor seating, Movie theater great, Whole Food store amazing... Overall very nice people.
Hotel Marriott Newport beach extremely friendly staff +++
Next morning running on the beach (newport Beach) at 7 AM breakfast for 2 (8 USD) at a donnut/bakery shop on the beach. Very friendly people, very safe.
Work full day i Irvine, no traffic going to work.
Next day drove from Irvine to Thousand oaks departure 10 AM very little traffic a few slow downs....
Coming from Europe traffic is good in OC and similar to New York or NJ traffic just being part of a large city. I found everything clean, nice and safe, but maybe because I was on the high priced area. I still consider moving their, the run on te beach wit surfers have no price for me....

Cheers
pecosbill

[Charles]

Originally Posted by pecosbill

here is my 2 cents on why I still want to move to OC...


I am french and leaving in NJ (princeton area),
I have been in US for 5 years.
I flew from Newark to Orange county airport,
this is a very very convenient airport, flight early out with my rental car in 10 min...
Drow to Newport Beach (fashion Island) mid day no traffic.
Went running on Balboa Island ( very nice place).
Had dinner + movie + shopping in Tustin (former air base)
Traffic was very fine for 5 PM, traffic lights but easy drive.

Restaurant good nice, outdoor seating, Movie theater great, Whole Food store amazing... Overall very nice people.
Hotel Marriott Newport beach extremely friendly staff +++
Next morning running on the beach (newport Beach) at 7 AM breakfast for 2 (8 USD) at a donnut/bakery shop on the beach. Very friendly people, very safe.
Work full day i Irvine, no traffic going to work.
Next day drove from Irvine to Thousand oaks departure 10 AM very little traffic a few slow downs....

Coming from Europe traffic is good in OC and similar to New York or NJ traffic just being part of a large city. I found everything clean, nice and safe, but maybe because I was on the high priced area. I still consider moving their, the run on te beach wit surfers have no price for me....

Cheers
pecosbill

I don't know your situation is but comparing a couple of days on a business trip complete with all the traveler's amenities and convenient airport experiences to what life is like on a day to day basis is sort of irrelevant.

[pecosbill]

Originally Posted by Charles

I don't know your situation is but comparing a couple of days on a business trip complete with all the traveler's amenities and convenient airport experiences to what life is like on a day to day basis is sort of irrelevant.

I agree that I can not compare with people leaving in the area but from the "horror" I am hearing on the posts I have not experienced the traffic nor the rude people or insecurity. And again it depends to what you compare it with. From an EU (paris London) perspective the traffic is a breeze in OC but if you compare it to Wyoming this is a nightmare... I hope you see my point that everything is subjective. I have also discussed with the "locals" from the company I intend to join and all of them would not leave OC for any reason, might be because they are all leaving in Irvine area... Was just my 2 cents as a casual traveller and potential new resident.
Pecosbill