Housing in Irvine? (San Jose, Santa Ana, Riverside: real estate, loft, houses)

[meameame12]

Hello all, its been quite a while--almost 1 1/2 yrs since my last posting.

Well...I chose the right week to leave NJ for an exploratory vacation in southern California. We dislike the snow, and especially the cold, am thinking about permanently leaving NJ. I know this process would take perhaps 1 year or maybe 2.

We are here in LA for 3 days, in SD for 2 days, and back to LA for another 2 days, and then will return to NJ.

Looked--and still looking--for homes for family of 6 (4 kids....ages 9,7,4,2).

Wanted space, wanted location. The #1 priority is safety / great schools. Was paying a truck load for 1st grade and K in NJ.

Didn't and still don't care about planned communities or artificial neighbors (whatever that means).

Also wanted a very short commute time. Don't know where I work. I *may* be able to transfer but no guarantees. I do work from home in the IT field at the moment, but if I make such a move here, then I may need to find new employment.

I hate commuting as ... Ill miss my kids growing up. Wife feels the same way. So...we were thinking the best way to lessen the commute is to work near the best possibility of employment locations--a large city.

So...we drove around Irvine, yesterday as its pretty popular -- for good reasons -- on the Internet + with a lot of realtors. However, I started to get scared with the prices.

We would drive by a house at random, type in the address in Zillow, and get a general "feel" for price range for the neighborhood.

Seriously? I mean, come on. A millions dollars for a tiny pad? Why / How did this happen? It cant be the "good" schools.
Supply / demand?

The prices feel ... artificial. We aren't talking Beverly Hills here, and the prices seem around that range.

We are used to, in NJ, 1 acre of land, 3000 sq feet. For the cost of around 600k.

So...coming here, I knew sticker shock was a possibility in San Jose or San Fran.

Did Proposition 13 affect the entire state though?

So...making our story, short, our tiny budget is only $700k for a SFH. And that is with 20% down to avoid PMI. Land was important, but it looks like that will never happen in Irvine. So I can live with that but I do need square footage.

Any ideas or suggestions?

[thelopez2]

Your budget and sq ft requirements will put you somewhere along the 15 Freeway. How about a 2500 sq ft with a 2 card garage, you'll get many more options. Most people don't park their cars in the garage since we don't have elements.

Not sure what you are getting at with Prop 13, but it s a state wide thing. Property taxes are around 1.25% give or take a little based on the location.

[ExeterMedia]

If you need 3,000 square feet, and have a $700,000 budget, you can try places like Santa Ana, Old Tustin, Orange. If you want to get into South OC, then you'll need to shop for really old homes (think late 70s or older). These homes will probably have a bit of deferred maintenance, but you can fix them up.

Just a cursory glance at the MLS shows that there are only 4 houses in all of South OC that are above 2,700 sqft, and selling for $700,000 or less. It gets a lot easier if you're willing to live outside of OC, places like Corona, Riverside, etc.

[pacific2]

You can find 4 bedroom homes in South County for about $700K, but they will usually not be 3,000 sq ft. , and some of your children will have to double-up (There are worse things in life).

BTW, a cathedral ceiling is common in South County, so you could convert that space into a loft play area, office, or additional bedroom.

Also, don't forget that you and your kids can make use of the excellent park systems in this area. What's more, these communities are safe and "family-friendly" with good schools and a variety of child-oriented activities.

Aliso Viejo (2)
Real Estate Search | Redfin

Mission Viejo (20)
Real Estate Search | Redfin

Laguna Niguel (9)
Real Estate Search | Redfin

Lake Forest (23)
Real Estate Search | Redfin

Rancho Santa Margarita (17)
Real Estate Search | Redfin

Exception to not finding 3,000 sq ft at your price: 56 CALLE GAZAPO, Rancho Santa Margarita, CA 92688 | MLS# NP14003380 | Redfin (3,000 sq ft for about $700K in Rancho Santa Margarita)

Ladera Ranch (5)
Real Estate Search | Redfin

[pacific2]

Originally Posted by meameame12

Didn't and still don't care about planned communities or artificial neighbors (whatever that means).

I'm scratching my head on this one. Irvine (Central OC) is a master-planned community. That description also fits most of South County.

[Joe Van Fossen]

If you don't care for master planned communities and want more land, you might want to turn your sights towards Orange. There are definitely plenty of homes throughout OC that would fit within your budget, while offering you the space you'd probably need (2400sf+, 5bd/3ba). However, whether or not those homes will be under $700K in the 1 or 2 years you plan to move will remain to be seen. You may have to adjust your budget or make some compromises if you do decide to make the move.

Real estate is definitely at a premium in Irvine, but it still doesn't come close to prices in Beverly Hills (except on the luxury side). There are a lot of reasons why real estate is in demand in Irvine, the least important one being "popular with realtors".

[meameame12]

Originally Posted by thelopez2

Your budget and sq ft requirements will put you somewhere along the 15 Freeway. How about a 2500 sq ft with a 2 card garage, you'll get many more options. Most people don't park their cars in the garage since we don't have elements.

Not sure what you are getting at with Prop 13, but it s a state wide thing. Property taxes are around 1.25% give or take a little based on the location.

I can do 2500 sq feet. 2 car garage is what we have now in NJ...

Thx

[meameame12]

Thanks--we went to Riverside yesterday, and the commute was loooong getting back to LA. Not that going to LA is a requirement, but it was awfully far from the highway.

[meameame12]

Originally Posted by pacific2

I'm scratching my head on this one. Irvine (Central OC) is a master-planned community. That description also fits most of South County.

Yes, I meant that we do not care whether or not the community is planned. Sorry

[meameame12]

Originally Posted by Joe Van Fossen

Real estate is definitely at a premium in Irvine, but it still doesn't come close to prices in Beverly Hills (except on the luxury side). There are a lot of reasons why real estate is in demand in Irvine, the least important one being "popular with realtors".

Lots of various realtors I've spoken to in the past year or so solicit Irvine. So....thats what I meant re. popularity w/realtors.