Geotpf_IHB
New member
[quote author="bltserv" date=1239682218]
"Now is NOT a good time to buy a home in Orange County".
Or Riverside or San Diego either.</blockquote>
Orange County, now is not the time to buy. Riverside County, now is the time. Prices in Riverside (on the low end) aren't going to go down much from what they are now. When rent on a 1 bedroom apartment with no covered parking or patio is more than the monthly mortgage payment (minus taxes, insurance, and repairs) of a 1,800 sq ft, 4 bed/2 bath house with a 8,700 sq ft yard and a three car garage (as in my particular circumstance), it's time to buy. A few miles to the east, newer (less than five years old), large (3,000+ sq ft) houses in San Jacinto are selling below construction costs. Prices can't drop much lower than this, IMHO, as every single person with good credit and a steady job who currently lives in an apartment buys a house. I would hate to own an apartment building in Riverside right now, although maybe the people who lost their homes will be moving in.
In fact, if the original poster isn't working (and therefore won't be affected by the major negative of Riverside County-long commutes to most jobs), and wants a large house in a temperate climate for low cost, large sections of Riverside County are worth looking into. Of course, so would other states, including those with lower taxes than California.
"Now is NOT a good time to buy a home in Orange County".
Or Riverside or San Diego either.</blockquote>
Orange County, now is not the time to buy. Riverside County, now is the time. Prices in Riverside (on the low end) aren't going to go down much from what they are now. When rent on a 1 bedroom apartment with no covered parking or patio is more than the monthly mortgage payment (minus taxes, insurance, and repairs) of a 1,800 sq ft, 4 bed/2 bath house with a 8,700 sq ft yard and a three car garage (as in my particular circumstance), it's time to buy. A few miles to the east, newer (less than five years old), large (3,000+ sq ft) houses in San Jacinto are selling below construction costs. Prices can't drop much lower than this, IMHO, as every single person with good credit and a steady job who currently lives in an apartment buys a house. I would hate to own an apartment building in Riverside right now, although maybe the people who lost their homes will be moving in.
In fact, if the original poster isn't working (and therefore won't be affected by the major negative of Riverside County-long commutes to most jobs), and wants a large house in a temperate climate for low cost, large sections of Riverside County are worth looking into. Of course, so would other states, including those with lower taxes than California.