[quote author="halfnote19" date=1240374700]<a href="http://'http://lansner.freedomblogging.com/2009/04/21/oc-housing-seen-137-undervalued/19431/'">O.C. housing seen 13.7% undervalued</a></blockquote>
Meanwhile Home Gallery Magazine (you know the glossy house pimpin' rag) for the IE has pages of homes listed with lines like $643 per month*** for 3bd, 3ba, SFR 1500F
That footnote, the ***, it's horrible...
*** based on 3.5% down, 5.5% FHA 30 year fixed, PITI, PMI & 5.876% APR.
Yes. That's right, payment, taxes, and PMI for under $700/month. It's not one home. It's page after page that will take $3000 and a $30,000/yr income to buy.
Or maybe you'd just like to use your planned down payment for a cruddy Irvine townhome to buy it free and clear and still have money left over to remodel the kitchen...
Maybe you want bigger, how about $1242/mo*** for 4/4 SFR in 3100sf. That one is horrible, it's going need $5500 down to do the deal.