This is the closest thing you will find in Aliso. 1247 sq ft ranch style home with a 2 car garage and a big patio for $175,000. Copy and paste the link for more info on that home. If you would like a complete list with pictures, descriptions and maps please feel free to cantact me. No fees or obligation, just free information have a great day!
Jon Ettelson Realty One Group
Well, the good news is the real estate piece has been very well taken care of with all the posts before mine, now to the financing piece. You've probably purchased a home by now but for those who haven't and read this, you may have run into issues trying to finance these bank foreclosures or other properties that aren't in the best of shape, well a rehab loan is your solution!
To avoid thread hijacking, I'll just post a link to another Trulia post about rehab lending. These loans can be done anywhere in the country, not just in the state the post is for.
If you have additonal questions, you may contact me directly via my profile/website.
Have a fantastic day!
You can get a condo or small detached condo for just under or at $200k right now... there is very low supply and high demand in most of Orange County right now. Here's a blurb I posted on my Facebook page 'OC Lisa': http://www.facebook.com/#!/oclisa
"OC housing inventory beat a record low set in March 2005, dropping to 4,886 Active listings vs. 4,912 over 7 years ago. In contrast, the inventory at the height during the downturn market in Sept 2007 was 19,898 listings. 2011's height was in June at 11,388 - consistently dropping since."
The reality is that there are no single family detached homes for $200,000 in South Orange County, be they standard sales, short sales or foreclosures.
I lived in Aliso Viejo and have sold real estate for years there so I can tell you that some of your surrounding areas are very nice and I would not rule out looking there for your home. For instance in Laguna Hills there are several 3 bedroom / 2 bath condos with garages for under $200,000
Working with a local agent with years of experience and a vast knowledge of Aliso Viejo and it's surrounding communities is your best solution for getting you the home that you can afford and one that you will enjoy for years to come. It is espescially important to work with an agent that knows the intricate dealings of getting an offer accepted on foreclosures and short sales. Not every agent has great negotiating skills! Choose your agent wisely.
With A Smile,
Mark and Theresa Thoburn
You've already gotten lots of offers of help, but I agree with folks...a single family, detached home for under $200k doesn't exist in Aliso Viejo or really in the surrounding area. You could find a one bedroom condo or maybe a one bedroom and loft or smaller two bedroom condo, but that's about it. Not that those are bad options. I've seen lots of condos with better floor plans than a SFR. It just depends on what your needs are. If, for instance, you are open to manufactured homes, your options open up a bit in the lower price ranges.
As for the foreclosures...here's my take on it all...there are plusses and minuses to all transactions whether they be standard, short sales or foreclosures...if you are looking for a house to be your home, find the place that is right for you and then together with your agent, work through the rest of it. As long as you know what you may be facing ahead of time with the different types of sales and you can live with those differences, go for the best home you can find!
Best of luck to you.
Purchasing a foreclosure can be a great idea, especially if you take appropriate precautions and do a thourough check for liens on the property before you buy. Most foreclosures are either in the short sale stage or have been taken back by the bank and are in the REO phase. Close to half of the properties in most markets are short sales.
It will be hard to find a Single Family Home under $350,000 in South Orange County.. Are you looking to have no HOA fees, There are 2 near Aliso Viejo with hoa fees under $100 per month. Are you open to the nearby cities?
Foreclosures may not be a bad idea, it is something we would talk about to let you know the differences and what you are willing or not willing to do..
Contact me through my email or call, as I do not come back to this trulia thread.. Thank You Monique and talk to you soon..
Ingrid Ski Realtor
http://www.IngridSki.com to look at properties
South Orange County has varying tax rates, with some areas having Mello-Roos taxes and/or additional special assessments. If you're in a lower price-range for the property itself, it may be wise to look at only the areas with the lowest tax rates (and frankly, most of Aliso Viejo is not one of them).
Looking at short-sales and pre-foreclosures are not a bad idea at all. They are a different animal than a regular sale, and the buying procedure is somewhat different, but with a huge chunk of the inventory out there being distressed sales, you would be missing lots of properties if you didn't look at everything. And the short-sale process has been getting a little more streamlined than in years past.
Please check out my website! You can search for homes, and see my credentials and testimonials, etc. It all starts with a no-hassle consultation, so feel free to contact me at any time! I'm here to help!
That sounds GREAT! Where do you find the $255,000, detached SFR? Not in Aliso Viejo- or $250k or $300k? So how does the payment on $175k with $375 HOA compare to a $305,500 house, which is the lowest price detached SFR in Aliso? It is important to know the market. Have a wonderful day!
Buying a home that needs repairs (utilizing a FHA 203K loan) may help you find a property at your price point. The improvements are rolled into the final loan and you will often end up with bonus equity. Do keep in mind that it would not be advisable to compare condos or townhomes with HOA fees with a traditonal single family residence. A condo for sale at 175,000 with $375 HOA fees will probably cost you more monthy than a 225,000 single family residence. But comparison would have to be on a case by case basis; however, one thing you can do is research the approximate HOA fees for condos in your area. Also, be aware that you will need to put down 20% on a condo unless the project is FHA approved. In short, financing for condos is more complicated these days in a number of ways. If you would like specific information, please feel free to contact me.
Same situation in Lake Forest, however many ore options at http://www.hartanovteam.com/lake-forest-short-sale-reo-prope
As Raquel stated, foreclosures can be a great buy depending on what your expectations are.
Please visit my web site and set yourself on a search for the property you are interested in previewing.