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Old 09-06-2008, 01:08 AM
 
365 posts, read 1,419,528 times
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Just sold a 3/2.5 for $348,000 in Ladera Ranch. Others come and go, some near your price range. The foreclosed homes sell within 5-12 days, so you or your agent needs to have keep up with the speed of the market there. Are you familiar with that area? Its still technically Mission Viejo. Absolutely family friendly, great schools, and plenty to do. Just know that you pay for the things to do in your HOA, so use them!!!

What is your preference on living West of the 5 of East?
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Old 09-08-2008, 02:42 PM
 
19 posts, read 57,177 times
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You can easily find a 3br condo for $325k in Orange County with great schools and planned communities. It is even possible to get into Irvine with $350k. Email me to discuss your options!

ericreingen@pruoc.com
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Old 09-10-2008, 04:56 PM
 
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Make sure you look into the HOA rules. Find out about the parking situation. Our condos in Lake Forest (formerly Trabuco Canyon) have terrible parking problems because owners moved out and renters with room mates moved in. More room mates = more cars, and if you arrive too late at night there's basically no where to park your second car without quite a walk.

Also, avoid buying next to the community pool. Noisy swimmers and cars coming and going. Seems like a no-brainer but when we moved in with thought it was so cool to be near the pool. Not!
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Old 09-10-2008, 11:47 PM
 
376 posts, read 1,506,052 times
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From all the answers you can see there are homes available. But the big question really lies in the mortgage area. Can you get a loan qualified at that value? If your credit is great, have a decent down payment and can handle conservative payments at 30 year fixed rates then certainly you can find a home in this range.

About 40% of the inventory in the cities you mentioned is non approved short sales, so the non-distressed homes at this price move very quickly. Many of the non approved short sales have multiple offers on them and are just waiting for the bank to finalize which is the best offer but still show active when they infact are not.

Ideally if timing is a concern then focus on approved short sales, REO or bank owned and standard sellers.

Best of luck and always here to help!
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Old 09-11-2008, 03:18 AM
 
619 posts, read 2,168,443 times
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Quote:
Originally Posted by rajbhai View Post
Hi All,

Is it possible for one to look for a 3-bed Condo/TH @ 325K in OC, or should I consider myself crazy running around with this figure?
I`ve seen 3 bdr townhouses (REO) FOR $ 260K in Garden Grove...wait another year prices are stil dropping. Expect another 15-20% drop by next year.
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