The neighborhood is great. The complex has had an ongoing lawsuit and you are not able to get a bank loan on this complex. If you have cash it could be a good gamble. The complex was built by Warmington Homes and is a great complex with low density and good sqft in each home. This property is on lease land. Usually you own the land, not so here. The owners raised the lease payment from $44 a month to well over $1000. many people who have lived there a long time can not afford this so there has been litigation which makes it impossible to get financing. If you look at what you get for the money it could be a good value even with the high lease payment-your call.
I have a lot of info about this area and complex.
I'm happy to help you.
Santa Ana has been one of the most active real estate markets in Orange County, mainly due to its overall low price when compared to other areas within Orange County. Looking at the sale for the most recent
Just looking, Yes, there probably are numerous lease option possibilities out in the market - but you probably don't want one. Here's why.
A traditional lease option requires a substantially larger "option" deposit, than the typical security deposit of a straight lease. If you do that, and then you end up not wanting to buy the house in a year or less, you would usually forfeit that deposit.
Here's what I think would be a better plan. Enter a standard lease, but include in the contract a "first" right to purchase the property at the end of the lease. Normally, the two parties - landlord and tenant - would then obtain one to three appraisals - to determine a mutually agreeable price - and go into an escrow to complete a purchase/sale.
I do a lot of leases every year and have implemented such a right in most of them. I hope this is helpful to you - good luck in your search.
Here is a venue to search for properties for sale, or for lease: http://tinyurl.com/Free-MLS-search... more
That is the best data I have seen but the story is distorted.
Look at the data 20k homes is 10 months inventory as Feb Sales levels which are typically low. At the end of February supply and demand were equal. If the banks did nothing but release one home into the market for every one they sell then by next month there will be another housing shortage and prices should be moving up (artificially).
Its clear the banks are moderating the release of inventory. It's not a doomsday scenario. Assuming the greater economy starts to revover we should be out of the worst of it by the end of next year.... more
This should be a good time to buy, anywhere in Orange County - especially if you think you will stay in the house for at least 3 years. Prices are very low compared to 2 years ago, and interest rates are also very low.
In addition, if you have not owned a house as a primary residence in the past 3+ years, you can probably qualify for the first time buyer's $8,000. tax credit, which can be like a refund when you do your taxes next year. ( Assuming you close escrow on your house no later than Nov. 30, of 2009.)
You can search for houses anywhere in Orange County with a special website that you can set up at this link:
Contact me if you have any further questions. Have a nice day.... more
You can actually go onto my website at www.joehoms.com and click on "Community Info" Click on "Orange County" and then click on "Santa Ana" to see all the information you require. Good luck and if you need any assistance with your purchase, just email or call me.... more