Market Conditions in 92626>Question Details

Swelman, Other/Just Looking in Costa Mesa, CA

What is an average two bedroom apt. rental going for in Costa Mesa? What is the average deposit requiremen?

Asked by Swelman, Costa Mesa, CA Sun Apr 27, 2008

Do R.E. agents handle rentals as a solution to helping distressed owners in this current market? Oh course rentals may not help with 100% carriying cost but maybe be the difference between forclousre\shortsale or not.

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5
Craiglist is going to give you the best selection of available properties. Most of the OC Register inventory is dated, and no longer available.

Your question would have a different answer depending on where in Costa Mesa you are looking to rent. On the Westside, you can probably find a 2 bedroom apartment starting around $1,200/month. On the Eastside, they start out at about $1500/month. Deposits are usually equivalent to 1 months rent, although some of the big complexes will take less.
1 vote Thank Flag Link Mon Apr 28, 2008
Hi Swelman,
I have to agree with some of the other posts- craigslist or westsiderentals.com will give you the best selection of rentals. Two bedrooms are generally between $1200-1500/month. I would stay away from any situation where you think a distressed homeowner might be foreclosed on though; a foreclosure that you are renting might get you out on the street again looking for a new place to rent.
It's a good time to buy- if you have the right mix of credentials, loans are fairly straightforward and interest rates are in the high 4% range right now, which is really affordable for most condos in Costa Mesa.

Colin Delaney
Broker, Veranda Homes
714-743-9882
0 votes Thank Flag Link Mon Feb 28, 2011
2 bedroom in costa mesa according to http://www.rentbits.com is $1722
0 votes Thank Flag Link Tue Apr 29, 2008
Swelman,

I do handle rentals for my clients as well as foreclosures and short sales. I try and help with everything right now as I know people are in great distress. You can look for rentals on my website, by creating a search with the areas your interested in. If you need advice on foreclosure or short sales, write me an email or give me a call.

Joe Homs
Realty Partners
949-625-4533
Web Reference: http://www.joehoms.com
0 votes Thank Flag Link Sun Apr 27, 2008
Have you looked on Craig's list or the OC register's site? The latter has MLS rentals as well as classifieds. I had been trying to gauge rental values on the house we are buying and saw tons of fully remodeled townhomes and condos that were renting for less than the apartments. They sound like distressed owners. My only concern renting from a potentially distressed owner is that it may foreclose anyway. The owner has your deposit, the bank doesn't give it back and you have to suddenly move. Some of the banks give people a few bucks to move, but not all of them.
0 votes Thank Flag Link Sun Apr 27, 2008
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