Housing Market in Chino, Eastvale & Ontario (Irvine, Moreno Valley: middle-class, sales)

[Housecurious]

Do you think the housing market in these areas slowing down some? I notice that housing prices are still rapidly increasing, even for older homes, but then I noticed online that the level of interest seems to be going down when a new house comes on the market. I was shocked to see a 2019 house in Ontario going for 688k when Ontario used to be the most affordable out of these 3 cities. Maybe that is why the interest seems lower lol When we walked into the sales office at The Preserve in Chino I was shocked to see it was empty. A month and a half ago it was jammed packed. It may have been a fluke but we are going to start seriously looking within the next month so I was just curious. Thanks.

[Inter441]

Originally Posted by Housecurious

Do you think the housing market in these areas slowing down some? I notice that housing prices are still rapidly increasing, even for older homes, but then I noticed online that the level of interest seems to be going down when a new house comes on the market. I was shocked to see a 2019 house in Ontario going for 688k when Ontario used to be the most affordable out of these 3 cities. Maybe that is why the interest seems lower lol When we walked into the sales office at The Preserve in Chino I was shocked to see it was empty. A month and a half ago it was jammed packed. It may have been a fluke but we are going to start seriously looking within the next month so I was just curious. Thanks.

Where in Chino preserve you plan to move I was there today was kind of empty too but the home advisor guy told me some of the community is sold out the Ivy and Hazel community .

I need to get in the priority list . Which community are you planning to purchase . I plan to purchase and move in by next year May

[waltchan]

I just researched more about Eastvale, CA's housing market (as an investor). It's looking bleak, in my opinion. Some of the oldest homes were built in 2001-2002 when city was first formed, and they are fast becoming old, obsolete, inefficient, and trouble appreciating in value further. When the homes turn over 30 years old by 2030, Eastvale will eventually become the new Moreno Valley, because the older homes cannot compete with newer Ontario Ranch up north when it is expanding further to the west with more high-tech, upscale new feel, plus empty land is still fairly abundant left.

So, expect more lower-income families moving to Eastvale soon than Ontario Ranch because the homes there are older and worth less now. It will also gradually become more Hispanic-populated middle-class, in addition to median-income slightly dropping below $100,000 for the first time ever.

The previously used home you buy today in Eastvale is already obsolete tomorrow, forcing prices down and longer time unsold, because a new home ready to build in Ontario Ranch will always be better and superior than the old home already built in Eastvale.

[apple92680]

Originally Posted by waltchan

I just researched more about Eastvale, CA's housing market (as an investor). It's looking bleak, in my opinion. Some of the oldest homes were built in 2001-2002 when city was first formed, and they are fast becoming old, obsolete, inefficient, and trouble appreciating in value further. When the homes turn over 30 years old by 2030, Eastvale will eventually become the new Moreno Valley, because the older homes cannot compete with newer Ontario Ranch up north when it is expanding further to the west with more high-tech, upscale new feel, plus empty land is still fairly abundant left.

So, expect more lower-income families moving to Eastvale soon than Ontario Ranch because the homes there are older and worth less now. It will also gradually become more Hispanic-populated middle-class, in addition to median-income slightly dropping below $100,000 for the first time ever.

The previously used home you buy today in Eastvale is already obsolete tomorrow, forcing prices down and longer time unsold, because a new home ready to build in Ontario Ranch will always be better and superior than the old home already built in Eastvale.

Why are you copy+pasting the same thing in multiple threads?

//www.city-data.com/forum/san-b...e-ontario.html

[chasemytesla]

Originally Posted by waltchan

I just researched more about Eastvale, CA's housing market (as an investor). It's looking bleak, in my opinion. Some of the oldest homes were built in 2001-2002 when city was first formed, and they are fast becoming old, obsolete, inefficient, and trouble appreciating in value further. When the homes turn over 30 years old by 2030, Eastvale will eventually become the new Moreno Valley, because the older homes cannot compete with newer Ontario Ranch up north when it is expanding further to the west with more high-tech, upscale new feel, plus empty land is still fairly abundant left.

So, expect more lower-income families moving to Eastvale soon than Ontario Ranch because the homes there are older and worth less now. It will also gradually become more Hispanic-populated middle-class, in addition to median-income slightly dropping below $100,000 for the first time ever.

The previously used home you buy today in Eastvale is already obsolete tomorrow, forcing prices down and longer time unsold, because a new home ready to build in Ontario Ranch will always be better and superior than the old home already built in Eastvale.

That sounds like a stretch. Ton of old home homes in Irvine that are worth a fortune. The age of a home has very little to do with its market's value. Eastvale's school district is far superior to Ontario's, which is a huge selling point for many households with children. As long as the bones of the house aren't compromised, a home can always be renovated to meet modern standards. Plus the lots in Eastvale are considerably larger than the cookie-cutter homes being built today, which is also appealing to lots of homebuyers. There's also still a good amount of commercial development happening like the Silverlakes area (think it's a shopping center, I haven't driven by there in a while so I forget) and that Sprouts shopping center that recently opened near Archibald and Limonite. I definitely don't see Eastvale ever turning into Moreno Valley, way different demographics and infrastructure to begin with.

Don't get me wrong, I live in Ontario Ranch so it would definitely benefit me if what you say becomes true. You're right in that there's a lot of commercial growth happening in this area. I'm actually pretty stoked since there's a Top Golf coming to Ontario next year But I'm planning to start a family soon and hoping that by the time my kids have to go to school, the schools in my area will improve; otherwise I'll have to move elsewhere. Other than one elementary school, everything else in the area is pretty mediocre.

[Racer46]

Originally Posted by chasemytesla

That sounds like a stretch. Ton of old home homes in Irvine that are worth a fortune. The age of a home has very little to do with its market's value. Eastvale's school district is far superior to Ontario's, which is a huge selling point for many households with children. As long as the bones of the house aren't compromised, a home can always be renovated to meet modern standards. Plus the lots in Eastvale are considerably larger than the cookie-cutter homes being built today, which is also appealing to lots of homebuyers. There's also still a good amount of commercial development happening like the Silverlakes area (think it's a shopping center, I haven't driven by there in a while so I forget) and that Sprouts shopping center that recently opened near Archibald and Limonite. I definitely don't see Eastvale ever turning into Moreno Valley, way different demographics and infrastructure to begin with.

Don't get me wrong, I live in Ontario Ranch so it would definitely benefit me if what you say becomes true. You're right in that there's a lot of commercial growth happening in this area. I'm actually pretty stoked since there's a Top Golf coming to Ontario next year But I'm planning to start a family soon and hoping that by the time my kids have to go to school, the schools in my area will improve; otherwise I'll have to move elsewhere. Other than one elementary school, everything else in the area is pretty mediocre.

This is true. Older homes have landscaping, fences and other additions, that most new homes do not have, so the money you spend after buying a new home is saved and used for other things over time. I have bought both new and old and each was a choice that fit what I wanted, not just buy because it is new.