Rameena, Home Buyer in California

Renting prospects in Foothill Ranch (CA)

Asked by Rameena, California Tue Feb 26, 2008

We are thinking of buying an investment property (2b/2b condo) in Foothill Ranch. How are the renting propects / demand in that area?

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Demand for rental housing in Foothill Ranch is extremely high while inventory is perennially low. Foothill Ranch homes rent at higher $/sf than most of the surrounding communities.

As of today (8/31/10) there is only one available detached home for lease in Foothill Ranch. Compare this to Ladera Ranch which has 21 detached homes for lease today and you can readily see the difference between the two communities. Even after adjusting for the relative difference on homew within both areas (Ladera Ranch has approximately 3x as many detached homes) it is quite clear that rental demand in vs. availability is in favor of Foothill Ranch. This demand/inventory gap in Foothill Ranch will significantly improve your occupancy rate and puts upward pressure on monthly lease rates which, for you, is the whole idea.
3 votes Thank Flag Link Tue Aug 31, 2010
Demand for rentals is high not just in Foothill Ranch, but throughout Orange County and you can expect that demand to stay strong for the next 5-10 years at least, as homeowners are short selling their homes or getting foreclosed and won't be able to purchase for 3-7 years plus. If you have the money, buy a few...
0 votes Thank Flag Link Thu Mar 1, 2012
Rameena....

Rents are on the rise and positive cash flow is back. This is a great market to be a buyer. Key is to buy smart, don't buy emotion. Crunch the numbers and factor in vacancy rates, HOA dues, taxes. Don't be afraid to walk away. Know the inventory and the appreciation rates for different areas. Happy to help. Linda Spears, RE/MAX 714-665-0272
0 votes Thank Flag Link Thu Mar 1, 2012
Hi Ramena,

Also keep in mind that the low HOA fees and taxes/Mello roos are relatively lower in Foothill Ranch. Just stay with detached homes where HOA fees are generally lower($70 to $100) compare to condos or townhomes. Track name Brittney is good because they are less pricy and it is considered detached so your HOA fees are close to $100/months. You can check all listing in Foothill Ranch by visiting my Website at

http://www.homaochomes.com

Good luck,

Homa Moaddel
C-21 Beachside
Web Reference: http://www.homaochomes.com
0 votes Thank Flag Link Wed Sep 22, 2010
Thanks everyone for taking the time to answer my question. I will checkout the below mentioned resources.
0 votes Thank Flag Link Mon Mar 3, 2008
I have no idea how much research you have done so far, but I deal with Investors everyday and can show you how to "Positive Cash Flow" in Orange County right now. Yes, "Positive Cash Flow" is back and alive for those willing to look for a great deal. Give me a call or check out my website and I will show you where to invest.

Joe Homs
949-625-4533
Web Reference: http://www.joehoms.com
0 votes Thank Flag Link Mon Mar 3, 2008
We pay $2100 a mo in N. Mission Viejo, for a 3 bd/2.5 ba with a view.
So, you can find $600 to $700 a month per bedroom, it's not hard, so MANY empty houses.
Don't let them intimidate you, those numbers are the OLD rents, when the market was at its peak.
0 votes Thank Flag Link Sat Mar 1, 2008
The rental market is hot right now making this an ideal investment. While condo's have less maintenance, single family homes usually rent quicker. Good luck.
0 votes Thank Flag Link Tue Feb 26, 2008
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
Contact
Hello Rameena......

The lease market in Orange County is robust.........I advertise alot of lease listings on CraigsList.com and have successfully placed many tenants into lease properties.

Buyers who are waiting on the sidelines STILL NEED HOUSING and sellers who CANNOT SELL are opting to lease their properties out....so what does it all mean??

Detached homes rent for more money that do condos .....

The rule of thumb on lease amounts in OC are $800-$1100 per bedroom...with this in mind, it is very important to buy a property with a tough negotiator on your side to maximize your return on investment.

Foothill Ranch is a very desirable neighborhood however...2 bedrooms is still only 2 bedrooms!

I'd be delighted to Email you available properties here in OC and discuss with you the details of building a winning business PLAN!

You may go online yourself and look at available listings @
http://www.officialochomesearch.com

If you see a property you like Email it to me and I'll arrange a personal tour.
Kurt Steinhebel ** Century 21 ** Orange County ** 714-365-6135
0 votes Thank Flag Link Tue Feb 26, 2008
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