We are leasing....but where?

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Hausfrau_IHB

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We have a unique situation that I am hoping some people can shed some light on. We will be leasing in the O.C. area for two years, compliments of a fortune 500 company. Range is $4,000-6,000/month. There is plenty of inventory, but I have have some concerns about the areas that have all of these bubble houses, etc, that I have been reading about in the forum. Who is buying these foreclosures? For example, there is a lease available on Crimson Rose, but there have been numerous discussions about Turtle Ridge and the WTF pricing. I guess I don't want to be on a street of highly stressed out, over spent people, driving Hummers. Talega is an option too. Quail Hills as a lot of leases too. My son has mold and dust mite allergies, so we are primarily looking at newer homes. We have seen some redo's in Capo Beach and San Clemente (south of 5.) Also, how do I know my "landlord" will be paying their bills? I don't want to be evicted!

Thank you...
 
Hausfrau



<blockquote>I guess I don?t want to be on a street of highly stressed out, over spent people, driving Hummers</blockquote>


Don't move to the "OC".



Oh yea, WELCOME.



Enjoy!
 
[quote author="Hausfrau" date=1226377254]We have a unique situation that I am hoping some people can shed some light on. We will be leasing in the O.C. area for two years, compliments of a fortune 500 company. Range is $4,000-6,000/month. There is plenty of inventory, but I have have some concerns about the areas that have all of these bubble houses, etc, that I have been reading about in the forum. Who is buying these foreclosures? For example, there is a lease available on Crimson Rose, but there have been numerous discussions about Turtle Ridge and the WTF pricing. I guess I don't want to be on a street of highly stressed out, over spent people, driving Hummers. Talega is an option too. Quail Hills as a lot of leases too. My son has mold and dust mite allergies, so we are primarily looking at newer homes. We have seen some redo's in Capo Beach and San Clemente (south of 5.) Also, how do I know my "landlord" will be paying their bills? I don't want to be evicted!

Thank you...</blockquote>


Use a realtor to negotiate your lease for you and have them check out the property. They can check mortgage balances, NODs, etc. If a prospective landlord is seriously leveraged or already delinquent, obviously you may want to stay away...
 
you're going to find stressed-out people everywhere. that's what happens when the top industries in a region get crushed and every kind of asset (except bonds) loses 10% each and every month. and you're not going to find old, established money in OC, or any of the cultural institutions that go with it, period.



if you really have that kind of budget, I would consider the length of the commute first and work backwards from there.
 
I was in the same situation 9 months ago. +1 on the commute. Renting takes out the stress of long-term value considerations involved in purchasing. So might as well start living more, worrying less.



I rented in Quail Hill when my landlord moved up to Shady Canyon. He bought both houses for cash (no mortgages outstanding), so my fears of evictions etc were unfounded (I did check the titles before signing the lease). I think there are more people like this in OC than many realize.



Crimson Rose does not have the views of most other T.Ridge houses. I didn't like that part of T. Ridge at all. I also didn't like that TR is gated.



About the general comment on OC above... I first came to OC in 1993-94. This was the height of the previous housing crisis because of defense job losses. Still, people seemed happier and there was more going on than now (this may be due to me being 15yrs younger). In the current crisis a lot of people got the illusion of being rich, and then lost it. A recipee for unhappiness, straight out of buddism books, getting attached to something is the root of all grief. If it reverts to So Cal of 1994, it will be a much better place, IMHO. (reverting to being a 22 year old would be swell too).
 
It's not as fancy (ie. attached condo, not a house), but you can always lease in one of the Irvine Ranch Co Apartment complexes to avoid the hassles of worrying if your landlord is solvent. They have rental apartment various OC communities, see the website below.



<A href="http://rental-living.com">http://rental-living.com</A>
 
Since you're only going to stay for two years and you have a decent budget, you could also go with a fully-furnished <a href="http://www.rental-living.com/Corporate-Housing/">IAC Suite</a> just for convenience.
 
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