Is Rancho Cordova a nice or bad area to live? (San Francisco: condo, crime)

[shelato]

Originally Posted by u225615

Unlike past housing bubbles HAMP and HARP availability has helped a considerable number of upside down homeowners despite the well publicized problems with these programs. No doubt, these programs have helped homeowners in locations that have a significant number of upside down home values thus helping to stabilize at least some of these neighborhoods. Additionally, today's mortgage lending standards are more rigorous than the pre bubble era in which buyers could obtain many "exotic" programs (i.e negative amortization mortgages, no income verification, zero down mortgages, high debt to in come ratio mortgages)that proved unwise. To say subsequent homebuyers are less affluent and less educated in this situation does not consider the fact that today's homebuyer is likely to be on better financial footing, have sound employment and able to handle the considerable expense of buying and maintaining a home than buyers prior to the collapse of the housing market.I'm not aware of what is happening in other areas with upside down properties but todays homebuyers in Anatolia who have bought homes at relative bargain prices seem to be have the financial resources to upgrade their properties (i.e landscape upgrades, flooring, fixtures, appliances, etc).

Today's lending standards cut both ways. The big issue is that the banks are lending more now to investors with better credit who then turn around and rent the houses to be people who can't currently qualify for a home loan. This process is happening the most often in the neighborhoods with the most people who are upside on there home loans, neighborhoods like Anatolia. That is why there is a significant risk in buying a house in a neighborhood with lots of homes that currently are upside down. If the number the owner occupants in a neighborhood go down, the educational attainment levels of the neighborhood go down quite rapidly like they did in South Natomas during the previous housing bust.

[u225615]

Originally Posted by shelato

Today's lending standards cut both ways. The big issue is that the banks are lending more now to investors with better credit who then turn around and rent the houses to be people who can't currently qualify for a home loan. This process is happening the most often in the neighborhoods with the most people who are upside on there home loans, neighborhoods like Anatolia. That is why there is a significant risk in buying a house in a neighborhood with lots of homes that currently are upside down. If the number the owner occupants in a neighborhood go down, the educational attainment levels of the neighborhood go down quite rapidly like they did in South Natomas during the previous housing bust.

There's a logic behind the above opinion however facts count the most.

According to a recent article which highlighted both the negatives and positives of Anatolia a strong majority of homes are occupied by their owners despite being upside down on their mortgage (Rancho Cordova subdivision has high rate of underwater loans - Real Estate - The Sacramento Bee)
Will this last? This weak economy and housing market have been ongoing for years now. Yet while some have left a good many are staying and raising their families.

Are there rentals? Yes,just as you would find in any community. You only need to search Craigslist for rentals available in much touted areas such as Gold River, Folsom, El Dorado Hills, Roseville etc.

IMHO investors are taking a bigger gamble buying property as rentals in Anatolia. Why? the pool of potential renters is limited by the relatively high rent in an area that does not have retail or public transportation nearby. I would think an investor would want to buy a cheap house in areas with little or no Mello Roos fees, close to retail, abd low propertytaxes to maximize the net profit from the rental.

[shelato]

But never-the-less the risk is significant that when you live in the neighborhood with the highest percentage of residents who are underwater on their mortgages that a significant proportion of those homeowners will walk away from those upside mortgages and that will create a large shift in the share of homes that are owner occupied.

[caligirlz]

u225615 have you ever thought of becoming the Rancho/Anatolia PR man? You'd be great!

[u225615]

Originally Posted by shelato

But never-the-less the risk is significant that when you live in the neighborhood with the highest percentage of residents who are underwater on their mortgages that a significant proportion of those homeowners will walk away from those upside mortgages and that will create a large shift in the share of homes that are owner occupied.

You are assuming Anatolia would make an attractive rental market

It does not... for the reasons already mentioned.

Many investors until recently could buy properties for cash in any number of other locations in the Sacramento area with a good positive cash flow.

What is happening in Anatolia is a shift from owner occupied to owner occupied as some homeowners walk away replaced by home buyers who actually live in the homes they purchase attracted by a well kept, low crime area with access to quality schools.

It also is worth noting that new home construction continues in (Carina by Lennar Homes) and around Anatolia (Sunridge Park, Kavala Ranch). Although I believe Carina has sold out or is approaching that point.

[shelato]

Originally Posted by u225615

You are assuming Anatolia would make an attractive rental market

It does not... for the reasons already mentioned.

Many investors until recently could buy properties for cash in any number of other locations in the Sacramento area with a good positive cash flow.

What is happening in Anatolia is a shift from owner occupied to owner occupied as some homeowners walk away replaced by home buyers who actually live in the homes they purchase attracted by a well kept, low crime area with access to quality schools.

Anatolia has a Rancho Cordova zipcode. Its located inside the City of Rancho Cordova, a city known more of being blue collar community. When people on the forum ask for recommendations for areas with good schools, how often does Rancho Cordova come up as a recommendation ? Any neighborhood located inside Rancho Cordova is an attractive neighborhood for rentals. While your specific street in Rancho Cordova may be in one of the lower crime parts of Rancho Cordova, Rancho Cordova overall doesn't have a low crime reputation, nor does really have a reputation for good schools despite the fact that your specific street itself send it kids to a relatively well performing school by Rancho Cordova standards. The fact of the matter is that Anatolia does have one of the highest rates of upside down mortgages in the region and its located in Rancho Cordova. Rancho Cordova is more like Elk Grove, Natomas, West Sac and Lincoln and all of these communities are places in transition where large numbers of neighborhoods are losing there owner occupants. At this point I still see Anatolia as a neighborhood that really could go either way. If the housing market bottoms out and starts recovering than Anatolia probably will be fine, but if this recession drags on for another couple of years, Anatolia is a neighborhood that I think could transition downward rapidly too. But I think the risk is still there.

[u225615]

Originally Posted by shelato

Anatolia has a Rancho Cordova zipcode. Its located inside the City of Rancho Cordova, a city known more of being blue collar community. When people on the forum ask for recommendations for areas with good schools, how often does Rancho Cordova come up as a recommendation ? Any neighborhood located inside Rancho Cordova is an attractive neighborhood for rentals. While your specific street in Rancho Cordova may be in one of the lower crime parts of Rancho Cordova, Rancho Cordova overall doesn't have a low crime reputation, nor does really have a reputation for good schools despite the fact that your specific street itself send it kids to a relatively well performing school by Rancho Cordova standards. The fact of the matter is that Anatolia does have one of the highest rates of upside down mortgages in the region and its located in Rancho Cordova. Rancho Cordova is more like Elk Grove, Natomas, West Sac and Lincoln and all of these communities are places in transition where large numbers of neighborhoods are losing there owner occupants. At this point I still see Anatolia as a neighborhood that really could go either way. If the housing market bottoms out and starts recovering than Anatolia probably will be fine, but if this recession drags on for another couple of years, Anatolia is a neighborhood that I think could transition downward rapidly too. But I think the risk is still there.

I would think people in this forum would take the information presented and do their own research. Some posters simply post based on opinions and long held ideas/reputations of various cities (such as yourself) on threads that deal with Rancho and Anatolia, some post based on facts and include helpful links, and others a little of both.

Crime is low in the newer parts of Rancho Cordova so that people dont have to decide street by street where to live. If someone is interested in the area its easy to access the Sacramento County Sheriffs Department or the Rancho Cordova Police Department website for info. Does crime happen? of course. It happens in Gold River, thirty one home break ins occured in Granite Bay late last year, etc. As far as becoming a victim in Rancho when shopping or dining areas frequented by hardworking residents are trouble free (i.e Kohls, Target, Chilis, etc).

Your postings on the schools serving the new areas of Rancho Cordova (south of Douglas) indicate that your are uinformed about the schools and the school district serving the neighborhood. I have included this information as well as links to third party databases in other postings for the benefit of people who are truly interested in forming an educated opinion or arriving at an informed decision. Thus, I will not post if for your benefit because it would be futile.

You can continue posting your opinions...its a free country...however, its unrealistic to think that posters, such as myself, will not respond to misinformed opinions.

[shelato]

When I say that Rancho Cordova has a reputation for crime that cities like Folsom, Rocklin, Roseville, Granite Bay and El Dorado Hills do not currently have, attached is an instance of what I am talking about. There are active gang members shooting each other in Rancho Cordova. This isn't happening in the other cities I mentioned. Maybe you personally don't care about avoiding random gang violence, but I can think of a lot of people who would not consider living in a Rancho Cordova address because this type of activity is happening in Rancho Cordova. If my wife and daughter go shopping for school clothes at NIGHT in the Target in Roseville, I am really am not going to worry about what is going to happen to them. If they were to go shopping even during the day at the Target in Rancho, I am not so sure I would feel the same way. When you throw in the fact that Anatolia not only has a Rancho Cordova address but that it also has the highest rate of upside down mortgages in the region, I think there is a real chance the neighborhood could rapidly be turned into mostly rentals.

No can prevent you from labeling any opinion that does not validate your opinion misinformed, but slandering my positions isn't the quite same thing as actually refuting them either.

Rancho Cordova triple-slaying trial opens with gang-violence scenario - Crime - The Sacramento Bee

[NewToCA]

Folks, let's take the personal stuff out of this exchange. After all, valid opinions exist on both sides of the discussion.

[caligirlz]

Originally Posted by NewToCA

Folks, let's take the personal stuff out of this exchange. After all, valid opinions exist on both sides of the discussion.

Thank you!!