Why would anyone want to move to Orange County? Could it be the incredible climate, its convenient proximity to both Los Angeles and San Diego, or the 42 miles of glistening coastline? Maybe it’s the alluring shopping destinations, diverse communities, or the laid-back lifestyle. Whether it’s one of these factors or an entire checklist, it doesn’t take much to convince someone, especially those from colder climates, to head west and do some California dreamin’ in The OC.
Once a land populated with grapevines and orange groves, Orange County blossomed after World War II when servicemen and women stationed in the region decided to stay put and raise families. Angelenos began their exodus from the city to the suburbs as Orange County’s bedroom communities quickly evolved offering affordable, tidy tract homes and a quieter way of life. The opening of Disneyland and the arrival of Mickey Mouse in 1955 helped to catapult the region nationally and, slowly, Orange County evolved as a conservative metropolitan center and business hub.
Fast forward to a new millennium when Orange County is referred to as The OC, thanks to a popular television show of the same name. In recent years Hollywood has come calling, producing other Orange County–based “reality” shows, such as The Real Housewives of Orange County and Laguna Beach. Once considered the stepchild of Los Angeles, this so-called ’burb has more to offer than prime time drama. It has its own distinct identity that includes enclaves of waterfront homes, throngs of designer boutiques, well-heeled citizens, and a sexy surf culture that is solely its own. Add to the mix that Orange County is home to two major universities—Cal State Fullerton and UC Irvine—as well as Disneyland Resort, a collection of four- and five-star hotels, and an impressive roster of Fortune 500 companies.
Orange County’s urban core is the Los Angeles–Long Beach–Santa Ana Metro area, and the county itself was one of America’s fastest growing during the 1990s. With more than three million residents residing in nearly 800 square miles and 34 cities, Orange County continues to grow in population despite being one of the nation’s most expensive regions. Home values more than doubled from 2000 to 2006 with the average annual rate rising nearly 13 percent, ranking Orange County as among the seven highest counties in the nation outside of New York City. In 2006 the median average home price was $309,000, but in recent years, with the economic downturn, the county has experienced a drop in residential real estate with many homes, from multimillion-dollar mansions to townhouses, foreclosing. With the first-time home buyer tax credit in place, Orange County is once again seeing a spike in home sales, but sellers trying to unload abodes priced below the $900,000 mark have a better chance at closing the deal. Those on the market for more than that sum are moving slowly, with nearly 13 months of inventory available.