Huntington Beach lower end of market (Orange: sales, real estate, rental)

[Anafiel]

I’ve noticed a fair number of <$800K SFH sales in HB over the past 6 months, which surprises me because that city is fast becoming a pricey area. Does anyone know if these are all cash or mostly cash sales?

[kauaidooley]

Talk with a realtor...... as far as I know, that cash only is more than acceptable, no qualifying hassels with mortgage companies, short escrow, and move in.

A realtor can can tell you about the cash, or conventional loan types of sales. Maybe a title company agent can give you that information as well.

I do know that some Chinese buyers are coming in with all cash . As to percentages , no idea, Talk with the pros.

[TurcoLoco]

$800K or around that price point is hardly a steal!

That said, even in HB, there are a few really seedy, undesirable areas so it all depends on the location.
Perhaps, also on the age, size and condition of the property.

[Electrician4you]

Cash sale usually means a way lower sale price than list price. If you compare the list vs sale price it may reveal a possible cash vs loan sale.
I think I read average house price in OC is in the mid 700s. Which seems to be going rate. Although some report said that enough people are leaving that the demand for new housing is slowing. It’s still there but not as much as before. I would expect some price resistance at this price point as housing and rents have skyrocketed in the past 5 years.

[pacific2]

According to Redfin, the average home sale price in OC is $718K, and that's 2.5% higher than last year.
https://www.redfin.com/county/332/CA...housing-market

Huntington Beach, with a Redfin "Competitive Score" of 57, is said to be somewhat competitive. The $797K average sale price in Huntington Beach is 6.7% lower than last year.
https://www.redfin.com/city/9164/CA/...housing-market

[Finper]

I have no idea why HB is so expensive it's one of my least liked cities in OC. The beach area is full of homeless, addicts, and young punks half mile in you hit nothing but housing tracks surrounded by walls and cheap old mini malls. It's not close to fwys either.

I think real estate has been flat all year because it's reached unattainable levels. I have a condo in Orange which sells for under 400k. That's the ticket! My condo has gone up 20 to 30k this year and they all sell within 2 weeks. Electrician is right about the Ca exodus too. I'm leaving next year for AZ and cutting all ties with CA. Sorry no more tax for you Newsome

[Electrician4you]

Originally Posted by Finper

I have no idea why HB is so expensive it's one of my least liked cities in OC. The beach area is full of homeless, addicts, and young punks half mile in you hit nothing but housing tracks surrounded by walls and cheap old mini malls. It's not close to fwys either.

I think real estate has been flat all year because it's reached unattainable levels. I have a condo in Orange which sells for under 400k. That's the ticket! My condo has gone up 20 to 30k this year and they all sell within 2 weeks. Electrician is right about the Ca exodus too. I'm leaving next year for AZ and cutting all ties with CA. Sorry no more tax for you Newsome

Better be ready to prove you are no longer a California resident to the state

[Finper]

Originally Posted by Electrician4you

Better be ready to prove you are no longer a California resident to the state

Yea I'll be happy to prove that to anyone that asks here..... Maybe I'll send them a pic of me smiling next to a saguaro cactus

[Electrician4you]

Originally Posted by Finper

Yea I'll be happy to prove that to anyone that asks here..... Maybe I'll send them a pic of me smiling next to a saguaro cactus

Lol. I meant for taxes.

[ElDiabloJoe]

Originally Posted by Finper

I have no idea why HB is so expensive it's one of my least liked cities in OC. The beach area is full of homeless, addicts, and young punks half mile in you hit nothing but housing tracks surrounded by walls and cheap old mini malls. It's not close to fwys either.

I think real estate has been flat all year because it's reached unattainable levels. I have a condo in Orange which sells for under 400k. That's the ticket! My condo has gone up 20 to 30k this year and they all sell within 2 weeks. Electrician is right about the Ca exodus too. I'm leaving next year for AZ and cutting all ties with CA. Sorry no more tax for you Newsome

I concur, I dislike HB for all those reasons, and more. Aye! Those ubiquitous pink cinder block walls delineating everyone's back yard from main streets!

As for other's discussions about taxes, I agree. You should find the thread on here where someone was discussing the lengths that the FTB will go to in order to try to label you a "Resident" and thereby levy taxes on you. It is well worth following their simple steps, such as proactively telling DMV you are surrounding your CDL (there's a form for it) instead of just letting it lapse, and registering to vote in your new domicile state. Be wary of coming back for medical visits, etc. If you keep commercial or rental property interests in CA, they will try to attach you that way. In fact, when I go back for a few days or a week or two each year, I take out a bunch of cash in my new state, and spend only cash in CA because I do not want any credit or debit card transactions to register to state officials my presence in the state.