need advice for 5 yr plan

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want2move_IHB

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Here's our situation:



1) we would like to move out of our neighborhood in the next 5 yrs or so.



2) yearly income approx. $130,000. stable and professional jobs for the last 10 yrs.



3) due to medical reasons (fertility problems) equity of 40k taken out 2 yrs ago. current mortgage is 30yr fixed 5.6% with interest only option until 2015. loan amnt $484,000. we've been paying $500 towards principal.



4) when we first moved here from LA county we thought we did enough research and had/have full intentions of raising a family in this house. after living here (Lake Forest) the last 5 yrs, we are not too happy with our decision. our neighborhood is OK which has an association, UNFORTUNATELY, we live VERY close to the non-association neighborhoods with "20 families" living in one house with 10 beat up cars (half are pickups) parked in their driveway and the street. Obviously, this negatively affects our neighborhood too.



5) my husband and i do not live a lavish life, for the most part we've lived within our means, no car payments, couple credit cards with a total balance of $1900.



I would like to get any advice in reaching our goal. and would like to thank you in advance for any input.



by the way, our medical problems have been resolved. we've been blessed with two beautiful and healthy children. hence, the 5 yr plan when the school system becomes a major factor in choosing a neighborhood.
 
SFR - 2400sqft, 7900 sqft lot, 4 bedrooms + den (now playroom) + family room, formal living room and formal dining room, 2 1/2 bathrooms. built 1970, swimming pool plus jacuzzi put in 1995, interior is upgraded, exterior with good landscaping, wood floors, granite counter, new carpet, new bathrooms. bought for $552000 in 2003.



would like to move into something similar to our current home just in a better neighborhood. although we would like a smaller lot.
 
<p>From Redfin, it looks that your house in LF range from 550K to 750K. However, many of the homes have be on there for many days thus it looks like the prices are high.</p>

<p><a href="http://www.redfin.com/stingray/do/listings-search#search_location=Lake%20Forest,%20CA&residential=true&condo=true&min_price=&max_price=&num_beds=4&num_baths=&time_on_market_range=-&min_listing_approx_size=2250&max_listing_approx_size=2500&sold_within_months=0&min_parcel_size=&max_parcel_size=8000&min_year_built=1960&max_year_built=&status=1&lat=33.646966911878756&long=-117.689218&zoomLevel=14&currentLocation=Lake%20Forest,%20CA&disp_mode=B&market=socal">www.redfin.com/stingray/do/listings-search#search_location=Lake%20Forest,%20CA&residential=true&condo=true&min_price=&max_price=&num_beds=4&num_baths=&time_on_market_range=-&min_listing_approx_size=2250&max_listing_approx_size=2500&sold_within_months=0&min_parcel_size=&max_parcel_size=8000&min_year_built=1960&max_year_built=&status=1&lat=33.646966911878756&long=-117.689218&zoomLevel=14¤tLocation=Lake%20Forest,%20CA&disp_mode=B&market=socal</a></p>

<p>Did you put down any downpayment for the house? Unfortunately, I think a realistic view would be that you will break even after commission. Thus, what ever you put in the house is what you are going to have to put down in the new place. </p>

<p>SFRs in Irvine (probably the best school district in the area) is going for about $150 to 200K more. I think after this whole mess is done, a comparable place in Irvine would be about 500K so maybe you can save up enough down payment for that price range. </p>
 
We chose our neighborhood by the schools and school district. My favs are University High and all the schools that feed into it. Corona del Mar High and most of the feeders, especially Anderson, but the downside is you have to live in NB. And Tesoro High with Las Flores and any of the elementary schools that feed into Las Flores.
 
<p>Have you addressed your concerns with the Lake Forest Municpal Code Enforcement? <a href="http://www.city-lakeforest.com/departments/development_services/neighborhood_services/frequently_asked_questions/">http://www.city-lakeforest.com/departments/development_services/neighborhood_services/frequently_asked_questions/</a></p>

<p>Lake Forest adopted the Uniform Housing Code that was adopted by Orange County. </p>

<p>"Any habitation which is overcrowded, as defined by the Uniform Housing Code, as adopted by city Ordinance 58, which adopted by reference the Codified Ordinances of the County of Orange, or which lacks adequate ventilation, sanitation or plumbing facilities, or which constitutes a fire hazard;"</p>

<p>Also, Sleeping in a garage is not permitted by the Lake Forest Municipal Code. </p>
 
<p>Yeah, many cities are having problems with that and get stymied by the ACLU and pro-immigrant camps. They also tend to get hund up on the definition of 'family'.</p>

<p>It doesn't really matter, squeak. Squeak loudly. Squeak often about everything you see on the property. The enforcement officers don't have to even cite or fine and in many cases can have an effect. Ever notice the vast majority of drivers slow down even though the officer is already out of the car writing a ticket to someone else?</p>
 
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