Ladera Ranch future home prices (Los Angeles, San Diego: fit in, for sale, real estate)

[julianap]

Any thoughts on where Ladera home prices will be in the next 1-5 years? Seems their prices dropped earlier and more steeply than other OC areas so does this mean an earlier recovery? Will they keep going down or are they leveling out in Ladera?

[bhcompy]

I doubt an earlier recovery. Mello Roos is heavy in that area afaik, which will hurt affordability as the market stays stagnant. Reason being there are still plenty of great areas nearby, so Ladera Ranch isn't the diamond in the rough to make it ultra-desirable compared to less expensive cities like Mission Viejo and Aliso Viejo that are still safe with comparable schools

[Charles]

I've looked online at Ladera Ranch and sort of like above, the biggest killer isn't the housing prices, it's the Mello Roos and HOA. Property tax is pretty easy to visualize. Mello Roos isn't super easy to get online (at least I don't know an easy way, like on a redfin page). Redfin lists the HOA. Interestingly, mello roos is layed out on homes in north San Diego county on redfin. Wish redfin did that for OC. I emailed with a redfin official a couple weeks ago and he wrote that redfin will be changing data providers "soon" and it should greatly improve data displays. Hope they fix the resale data glitches.

There are a couple other communities with lower HOA like Wagon Wheel.

Recommend you check out irvinehousingblog forum for more detailed discussion.

Also, do a search on Missionhome's posts; lots of good neighborhood comparison information.

[julianap]

I hadn't thought of how HOA and/or Mello Roos could affect the health of a micromarket within OC. Makes total sense now that I think of this. I had read in places that Ladera prices were leveling out which just shocked me (thus prompting this post). I don't see how that area avoids further decreases in price, but what do I know?!

[NaplesRes]

In my opinion it's too far south and from job centers, inland and hot, nothing original (it's cookie cutter, sterile, etc) and developed at the height of the market. This area isn't going to recover for awhile.

[$DFW8$]

Originally Posted by NaplesRes

In my opinion it's too far south and from job centers, inland and hot, nothing original (it's cookie cutter, sterile, etc) and developed at the height of the market. This area isn't going to recover for awhile.

I remember when Ladera was first started back in the early 90's when I lived out there. It was such a hot topic because it was the "newest" housing development in the OC. I remember seeing the signs and all the land laid out for it....talk about huge! I was out there for a visit about a year ago for the first time since I moved away and was shocked at how many homes they fit in there! Definitely the typical suburban development with all the houses right next to each other. And there was for sale and foreclosure signs on every street it seemed like. It was disappointing to see because they talked it up to be this very nice, upscale area and yet it seems to be in decline now. I sure do hope the California economy gets better soon!

[Charles]

A very interesting commentary on the Mission Viejo, Ladera Ranch, RSM evolution and architecture.

Why is Ladera Ranch Flawed?

[missionhome]

Ladera is one of the most depressing areas of Orange County. It seems like everyone is dirt broke. Construction was from around 2002 (around there)-2008 which means everybody pretty much bought at the height of the market. Other cities like Mission Viejo, Lake Forest, San Juan Capistrano, etc.... you still have many many families that bought in the 90's and could still sell today and make a profit. The difference is that in Ladera, EVERYONE bought when the market was hot.

You see the spill over at stores. I was at a home decor shop in Ladera and when I went to write a check they said, "Oh no, we don't take checks anymore because most people are bouncing." The sad thing is many Laderians are still trying to "act" like everything is fine. As a general example, Tamra Barney from the Real Housewives of OC is listing her home as a short sale, but then still parades around TV like she is some rich snob. Surprisingly some Laderians aren't that different.

[Charles]

Originally Posted by missionhome

Ladera is one of the most depressing areas of Orange County. It seems like everyone is dirt broke. Construction was from around 2002 (around there)-2008 which means everybody pretty much bought at the height of the market. Other cities like Mission Viejo, Lake Forest, San Juan Capistrano, etc.... you still have many many families that bought in the 90's and could still sell today and make a profit. The difference is that in Ladera, EVERYONE bought when the market was hot.

From the City Data Real Estate forum:

http://www.city-data.com/forum/real-...der-water.html

"I just sold my place for HALF of what I paid for it in 2006 and I dont owe anything to the taxman or bank.

I did not even realize that I had this option, a short sale, until doing some searches and research online. Yeah, it hurt my credit but it wasn't worth paying twice the amount of my mortgage that my new neighbor was paying... for the next 27 years nonetheless! Anyway, my credit will rebound in a couple of years and I'm all good. Plus, I didnt even pay my mortgage and prop taxes for 8 months and walked away with a nice nest egg.

I'm renting for now because I just moved for work. I wouldn't want to buy anyway right now with prices still dropping and foreclosures going up.

My Realtor was awesome and my deal went smoothly but I hear stories of long escrows because banks are backed up.

Anyone else have good or bad experiences with short sales in Los Angeles?"

[$DFW8$]

Originally Posted by $DFW8$

I remember when Ladera was first started back in the early 90's when I lived out there. It was such a hot topic because it was the "newest" housing development in the OC. I remember seeing the signs and all the land laid out for it....talk about huge! I was out there for a visit about a year ago for the first time since I moved away and was shocked at how many homes they fit in there! Definitely the typical suburban development with all the houses right next to each other. And there was for sale and foreclosure signs on every street it seemed like. It was disappointing to see because they talked it up to be this very nice, upscale area and yet it seems to be in decline now. I sure do hope the California economy gets better soon!

Oh I just realized I made a mistake. I moved out there in the early 90's and moved in 2000, right around the time it was starting. Sorry didn't want to confuse anybody!