Seattle to OC....what to expect? (Huntington Beach, Irvine: real estate, apartments, rent)

[wsugrad03]

We're hoping to make the transition from Seattle to OC within the next 6 months. We're not terribly familiar with the OC. We've spent more time in the Thousand Oaks area, so that's my frame of reference. My work will probably be located in Huntington Beach, but it depends on what positions open up in my company for the actual transfer.

From what we've seen, we like Irvine. It has the highest concentration of excellent schools, so that's going to be our focus.

Why we want to move to the OC?

• Warm, sunny weather. Beach atmosphere.
• Closer to family.
• Good work opportunities.

My question for the locals is what to expect in terms of commute, schools, cost of living, and housing?

• How bad is the drive from Irvine to Huntington Beach / Seal Beach area during rush hour? What about weekend traffic?
• Is 150K enough to make it into the Irvine housing market? We're first time home buyers.
• What's the typical property tax in the OC? 1.5%? What about Mello roose?
• Other than Irvine, what other areas are family friendly, but not a terrible commute?
• What's the forecast with the housing market? Any predictors for the bottom to hit in the next year? Next 2 years? The MLS listings look terrible right now...500K for a crappy old house with no upgrades. Is there any hope for first time home buyers?
• How does the liberal Seattle persona mesh with the OC population? Any post-Seattle Freeze residents having trouble adjusting?
• What is the typical OC persona? Is it hard to find good-natured, down to earth people, or is it really all about the money (no offense)?

Thanks for your time.

[EscapeCalifornia]

1) Irvine to HB or SB in the morning is generally against the flow of traffic so it's not too bad. SB is quite a bit farther up the freeway than HB. Also, Irvine and HB are geographically large cities so travel times could vary between 15 minutes and 45 minutes depending on exact locations. That's without any traffic of course.

2) Honestly, without a big down payment, that'll put you in a condo at best. Irvine is still pretty damn expensive unless all you aspire to is a 1 bedroom condo.

3) Property tax is 1% statewide plus any voter-approved add-ons. I was paying 1.12% in Fountain Valley. Mello Roos is only on newer tracts (1982 or later) and could double your tax rate. You need to check out out with a realtor because one tract may have it and the one across the street may not.

4) I'd look in Huntington Beach or Fountain Valley. Both have good schools.

5) Your guess is as good as mine. I just bailed out of an overpriced house and won't get back into the market here its $200/sf or less but I'm not holding my breath. The market could tank and nice areas may become affordable again or you may have to move out to Corona and commute 4+ hours a day to get affordable housing.

6) Seattle pretty far left. OC is right leaning but less so each year as the conservatives die off or leave for redder states. South OC is more conservative than north OC.

7) It all depends on who you hang out with.

[wsugrad03]

Originally Posted by EscapeCalifornia

2) Honestly, without a big down payment, that'll put you in a condo at best. Irvine is still pretty damn expensive unless all you aspire to is a 1 bedroom condo.

Sorry. I should have clarified this in my original post. Is $150K (annual income) enough to break into the OC housing market?

Thanks for your other comments.

[EscapeCalifornia]

Originally Posted by wsugrad03

Sorry. I should have clarified this in my original post. Is $150K (annual income) enough to break into the OC housing market?

Yeah, that's how I understood your question. $150K may sound like a lot but when you think that you should spend 3x that on a house at most, it really limits your purchase options here.

[wsugrad03]

Yikes.......so we realistically need to make $200-250K per year to find anything respectable in that area? That's the upper 3% income class.

Seriously though, I'm assuming a 3 bedroom apartment probably runs close to $2500 down there. How is this economically feasible? That's a mortgage payment for a $450K home. City-Data needs to update their statistics, because I know this stuff isn't up to date any more. Median income in Irvine is $82K. $82K doesn't even pay for the rent on a 3 bedroom apartment.

What the heck is going on down there? I'd love to relocate, but it's gotta make economic sense.

[Donn2390]

I suggest calling a realtor in the area for advice on a home purchase. Wife and I together made around $100k, and we lived in a large home in a beautiful area of Yorba Linda. It's not how much you make,it's how you spend it....

[EscapeCalifornia]

Originally Posted by wsugrad03

Yikes.......so we realistically need to make $200-250K per year to find anything respectable in that area? That's the upper 3% income class.

Seriously though, I'm assuming a 3 bedroom apartment probably runs close to $2500 down there. How is this economically feasible? That's a mortgage payment for a $450K home. City-Data needs to update their statistics, because I know this stuff isn't up to date any more. Median income in Irvine is $82K. $82K doesn't even pay for the rent on a 3 bedroom apartment.

What the heck is going on down there? I'd love to relocate, but it's gotta make economic sense.

Welcome to the real estate bubble and the reason people like me are making plans to leave. Yes, prices are coming down but I don't know if they'll ever be in line with incomes again. Lots of people bought years ago when houses were affordable and now they're sitting on their $600k houses free and clear or owe $200k on them. You don't need to make big bucks in that case so it lowers the median income stat.

3 bedroom apartments aren't that common. You could probably rent a smaller 3 bedroom house for $2500 in most areas of OC though. Most likely, if you move down here and buy a home, you'll wind up settling for a condo to get into a nicer neighborhood.

[EscapeCalifornia]

Originally Posted by Donn2390

I suggest calling a realtor in the area for advice on a home purchase. Wife and I together made around $100k, and we lived in a large home in a beautiful area of Yorba Linda. It's not how much you make,it's how you spend it....

And what year did you buy this house and at what price?

[capoeira]

Originally Posted by EscapeCalifornia

4) I'd look in Huntington Beach or Fountain Valley. Both have good schools.

This is very good advice. Look in Fountain Valley,all the schools are highly rated and Huntington Beach has several good ones.

California School Ratings - Orange County

I love Orange County but Irvine is one of the last places I would look to live. Too many oppressive homeowners association rules. Our friends lived there and they were told when to plant flowers and what kind. There are rules against car washing and opening your garage door. If you are looking for "good-natured, down to earth people" they will most likely be found in neighborhoods that value freedom over conformity.

[wsugrad03]

Originally Posted by EscapeCalifornia

Welcome to the real estate bubble and the reason people like me are making plans to leave. Yes, prices are coming down but I don't know if they'll ever be in line with incomes again. Lots of people bought years ago when houses were affordable and now they're sitting on their $600k houses free and clear or owe $200k on them. You don't need to make big bucks in that case so it lowers the median income stat.

3 bedroom apartments aren't that common. You could probably rent a smaller 3 bedroom house for $2500 in most areas of OC though. Most likely, if you move down here and buy a home, you'll wind up settling for a condo to get into a nicer neighborhood.

Point graciously taken. I can't help but have a sense of mild bitterness at the people who were in the right place at the right time to ride that crazy equity wave. Good for them....sucks for the rest of us. Anyways, whenever we get back to a normal market, we'll just have to buy what we can easily afford and see where things go from there.

I'll look into Huntington Beach. From the sounds of it, it might be the smarter place to relocate to.

Thanks for the advice.