need Chino info (Auburn: lender, hoa fees, apartments)

[jvazjr]

'lots of warm and fuzzies ' :--)

[chuck22b]

Originally Posted by jvazjr

What Chuck said. If you are inclined to buy now, offer at least 300k and see what happens. However, I will also agree and say there should be more deals down the road with the current market condition.

Chuck, my wife's family has been in Chino since 1978. Long history with the city so kots if warm and fuzzies. We are also pretty familiar with the last couple of RE busts. This one last boom does not make sense. Even my 68 year mother in law sees we are in for a major market correction.

I think we are already in and have been in a market correction (things dropping over 20% in a year, and ~10% in one quarter isn't normal).

On another note, how does your wife's family like the area? Is there any cool places that's a must see in Chino? I'm stilll getting familiarized with the area, so it'd be neat to find something only "locals" know about. Restaurants? Farmer's markets? etc?

Thanks,
chuck22b

[trapspeed]

Chuck22b,

Before buying at the Preserve, did you look at places in neighboring Eastvale? If so, what was the deciding factor between the two cities?

[chuck22b]

Originally Posted by trapspeed

Chuck22b,

Before buying at the Preserve, did you look at places in neighboring Eastvale? If so, what was the deciding factor between the two cities?

Hi Trapspeed,
Nice hearing from you again. When we were looking for a house, we looked into Diamond Bar, Chino Hills, Orange, Ontario, Chino, and a little in Eastvale.

Our main deciding factors were that we wanted a new place, reasonably priced, close to the shopping centers we frequent (Chino Spectrum area, Chino Hills area), decent city, accessible to Job centers in Orange County, LA County, and Ontario area, and close to Diamond Bar where my wife's parents live.

Eastvale was on the edges of our search pattern. Between the Preserve and the developments in Eastvale, we felt that the Preserve had a nicer community atmosphere, was further developed than some developments, had more amenities already built, was part of an incorporated city (therefore has it's own police department and fire department instead of sharing with the county), had a good master plan (I looked over and reviewed any piece of info I could get on the planning and prospects of the preserve (City of Chino, CA - Homepage), decent school district, and was well lighted during the evenings (we visited the area after-hours to see how it was - a lot of the developments in Eastvale are quite dark in the evenings). We also felt that the Lewis Group was a strong enough and reputable enough company to carry through with the duration of the project.

Chino is also wrapped around or by some nicer cities... Yorba Linda, Chino Hills on the West, Corona on the South, the North side not as nice, but by Ontario, Rancho Cucamonga, and Eastvale, Mira Loma, on the East.

From what I hear, Eastvale is moving forward into becoming an incorporated city... this will help the city, but also increase the taxes . All in all, it's a good thing for the area.

So, in spite of it being a little more expensive than living in Eastvale, we thought that the future prospects, living conditions, etc. was where we wanted to put roots in.

Hope this helps,
chuck22b

[lsjdesigns]

At this time I am terrified. I have been approved by FHA and a Hart Program, down payment assistance. I currently only earned $53K a year. To get the payment wher I could afford it, my approved loan was for $225K. Sucks but realistic. I work 5 mins from the preserve and with the future development in that area, I am fixed in to live there or college park. But I want to wait to hopefully see if the market dips more so that I can purchase more of a house. My lease can be up October 15th 2008. Just not sure at this moment.

[SoCal Bottom Rider]

Just wait a while. I am very confident prices in that area will continue to drop for a while longer. Many purchased at the peak so you should see some foreclosures in the near future as their values will drop and some will walk. Some will try to undercut the competition so your 225k should work just fine.

[rammi43]

Originally Posted by lsjdesigns

At this time I am terrified. I have been approved by FHA and a Hart Program, down payment assistance. I currently only earned $53K a year. To get the payment wher I could afford it, my approved loan was for $225K. Sucks but realistic. I work 5 mins from the preserve and with the future development in that area, I am fixed in to live there or college park. But I want to wait to hopefully see if the market dips more so that I can purchase more of a house. My lease can be up October 15th 2008. Just not sure at this moment.

Dear Isjdesings,

I am also like you looking for homes since 8 months in preserve and college park. Finally I ended up at college park. We bought 60k less what they used to sell (2007). I don’t think u will get way less price because if the price is less there is multiple offers on that. For us the builder offered some price and we went lower but somebody came with the builder asking price. But that buyer didn’t qualify for loan finally we got that.

Now no body is building new homes in college park. So if you are looking for new home with affordable rage I feel its riht time to buy. If you need any info let me know.


By the way I sincerely Thanks to CHUCK22B for giving valuable information about Chino.

[chuck22b]

Originally Posted by lsjdesigns

At this time I am terrified. I have been approved by FHA and a Hart Program, down payment assistance. I currently only earned $53K a year. To get the payment wher I could afford it, my approved loan was for $225K. Sucks but realistic. I work 5 mins from the preserve and with the future development in that area, I am fixed in to live there or college park. But I want to wait to hopefully see if the market dips more so that I can purchase more of a house. My lease can be up October 15th 2008. Just not sure at this moment.

Hi lsjdesigns,
Welcome to the board! The apartment units in the Preserve, I think they're called Meadow Square are accepting leases. If you want a feel for the area I think that would be the closest thing to actually living there and if you want to monitor the homes. I have a feeling you already know how the area is like though and are looking for a home.

Chino California Apartments - Home - Meadow Square

Like Bottom Rider said, there is a possibility of snatching up some foreclosures now and in the future if you wait a few months... but I don't think the newly constructed houses are going to drop down to foreclosure levels... especially since most of the new houses are being built on contract. Keep a watch on inventory and interest rates. Good luck with your search, and just make sure you can afford it and not stretching it if you decide to jump in... that'll help ease your nerves or the scary part if the market dips more in the interim.

-chuck22b

[chuck22b]

Originally Posted by rammi43

Dear Isjdesings,

I am also like you looking for homes since 8 months in preserve and college park. Finally I ended up at college park. We bought 60k less what they used to sell (2007). I don’t think u will get way less price because if the price is less there is multiple offers on that. For us the builder offered some price and we went lower but somebody came with the builder asking price. But that buyer didn’t qualify for loan finally we got that.

Now no body is building new homes in college park. So if you are looking for new home with affordable rage I feel its riht time to buy. If you need any info let me know.


By the way I sincerely Thanks to CHUCK22B for giving valuable information about Chino.

Wow! Congratulations on your new home rammi43! that is awesome! I didn't think people would be reading my rants and I'm glad that they were helpful.

It's nice that Ayala park has completed its' expansion and that Chaffey College is now open and is currently building the culinary and nursing schools. I think Chino has grown up quite a bit in the last 5-10 years and has in the most part a pretty nice looking future.

take care,
chuck22b

[SoCal Bottom Rider]

Congrats on the home Rammi. As my family has been a part of Chino community for over 28 years, I can say it is truly a family oriented city. Now for the bad stuff. Not to rain on your parade but values are still on the decline in this area. If you do see lower values down the road(example: a neighbor moves in for less) dont try to rationalize your decision. You already purchased so enjoy. Good luck.