I am looking to buy a cheaper home in Yorba Linda.

Asked by marylynndatoc, Fallbrook, CA Thu Nov 21, 2013

My husband and I are both retired and were thinking that if we buy a cheaper home we will have smaller mortgage. We are comfortable financially but would like to enjoy some of our money in our retirement years. Our current home is in Tustin Ranch. I don't want to downsize and would still like 3,000 sq ft or more. I like the current appreciation in TR. Is there a nice area of Yorba Linda? Would that be a smart thing to do?

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21
Jamie Tian, Agent, Los Angeles, CA
Thu Nov 21, 2013
Hi,

I would be happy to speak with you and answer any questions you might have.

Yorba Linda is a great area and I do believe you can get a similar sized property for less than the cost of your home in Tustin Ranch. My parents actually own a home in Tustin Ranch. They are considering selling their home as well and I helped them do a comparative market analysis of their current home value and they were pleasantly surprised at how much their home is now worth!

Feel free to contact me directly at (310) 717-1321 or JamieTian@RodeoRE.com and I can email you some properties in Yorba Linda for you to take a look at, and also help you figure out how much your current home in TR is worth to see if this is a good option for you.

Best,

Jamie Tian
Rodeo Realty
(310) 717-1321
JamieTian@RodeoRE.com
BRE #01920120
Web Reference:  http://www.jamietian.com
1 vote
Phillip V. R…, Mortgage Broker Or Lender, Brea, CA
Thu Sep 25, 2014
Marylynn,
Has anyone answered your question?
If not, please feel free to contact me @ 714 925-3991
Thank you,
Phillip V. Rodriguez
0 votes
Carolyn Moore, Home Buyer, Perris, CA
Mon Jul 14, 2014
The home at 28680 Evening Breeze Drive in Yorba Linda has 2518 home sq. ft. plus 459 additional sq. ft in a large First floor bonus room. Homes in this neighborhood with a view of the hills are still less than $800K. Check out this neighborhood!
0 votes
Ann Urias, Agent, tustin, CA
Tue Dec 3, 2013
Hi Mary

If you still need assistance please give me a call or go to http://www.annurias.com I am very familiar with both areas and can help you make the right decision.
0 votes
Alexander Gr…, Agent, San Jose, CA
Fri Nov 22, 2013
Make sure that you can get approved for a loan first. You still need to show the income to pay the mortgage.

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes
Then your next step is to get an agent. Do you have one already?
Flag Sun Nov 24, 2013
Yes, we are pre-approved up to 800K loan.
Flag Fri Nov 22, 2013
Ingrid Ski R…, Agent, Mission Viejo, CA
Fri Nov 22, 2013
Hi Marylynn

You can use your tax advantage one time and keep your same property tax when you sell the TR home. Peop 60-90. I have help owners use this when they buy another home Some rules go along with this and can send this over to you as long as you are 55 years old or older
Call or send me an email and I can help you get started with this

Yes, Yorba Linda is a great city just as Tustin Ranch is

Talk to you soon

Ingrid Ski Realtor
949-874-0432
OCAreaHomes@gmail.com
0 votes
Marlene Pres…, Agent, Anaheim, CA
Thu Nov 21, 2013
With 14 answers ahead of me ... you may never even get to mine! But I feel drawn to answer your question.

My name is Marlene Prescott and I am with Prudential in Anaheim Hills. I have lived in Central Yorba Linda for over 40 years and have never seriously considered moving anywhere else ... although I have sold homes in every corner of Orange County over the past 30 years. Needless to say, I believe Yorba Linda is a wonderful place to live.

There are no "bad" areas in Yorba Linda. It is just that some areas are more expensive than others due to various factors.

Homes in Yorba Linda have, in general, a lot more space around them than most others in OC. There are very few Associations, although there are some. And, in spite of this ... the homes almost all look neat and and well improved and kept. Yorba Linda values pride of ownership. The same is true of special assessments. They are usually few and quite low.

Yorba Linda property values tend to be generally higher than TR. And, appreciation has been very brisk in the last two years, also.

Yorba Linda began expanding in the early 1970's and new construction is still going on. Mostly climbing up the foothills to the north. Homes range in size from medium to very large. There are few very small detached homes of any age. The newer homes are more expensive, of course, because they cost more to build and land was more expensive. But, many of the older homes are beautifully updated and really quite contemporary and gorgeous .

What I like best about Yorba Linda is the serenity of life here. There are few main streets and the 91 Freeway is 1-3 miles away in most cases. Yet, all services and stores are very close by. It is quiet. There are lots of trees and birds. The homes are usually quite secluded. I have always felt very safe here and have never been disappointed.

I have no way of knowing, at this point, if a move to Yorba Linda would be financially advantageous
for you. I do not know what your current home would sell for ... but it would not be hard to determine. I assume you could transfer your tax base to a new home within OC. Because I don't know the amount of downpayment we would be working with, there is no way I can tell you if it would be possible to "Buy down", lower your mortgage and keep your square footage and general lifestyle.

If you are seriously considering Yorba Linda as a new home ... you need to experience it. And, go with your heart. Yorba Linda has a lot to offer but different people respond to different things. I think I am a little prejudiced!

Please give me a call or send an email if you would like to talk. I will happily answer all of your questions!

Marlene Prescott
Prudential CA Realty
714 283-6643
marlenepre@aol.com
BRE Lic# 00840097
0 votes
Walter 'Skip'…, Agent, Brea, CA
Thu Nov 21, 2013
Hi Marylynn,
The best way to answer your question about "is this a smart thing to do" is to calculate out what you would net out of your sale and what it would cost you to purchase a similar size home. From this financial anaylsis you could determine if it makes sense. You would be able to figure what your payments would be before deciding. To be honest, I do not think a similar size home in Yorba Linda will be that much cheaper after you figure in all the selling and buying costs involved. I would be happy to help you figure all this out without any cost or obligation. Just contact me through my profile if you would like my help.
Warm regards,
0 votes
Emily Knell, Agent, Huntington Beach, CA
Thu Nov 21, 2013
Hello Marylynn,

If you sell your Tustin Ranch home & use 75% or more of your sale proceeds, your new mortgage pymt in Yorba Linda could be lower than it is now. (don't freak out, but I know what your approx. loan balance is now)

The most inexpensive home on the market now in Yorba Linda is $850K w/ 3,000sqft. And, this IS for a newer home, like you have now. There are no older homes in YL that have the square footage you desire.

While interest rates are still low, even for a loan amount between $417-625K, this would be a good time to make a move & enjoy a low interest rate throughout your retirement years.

If you'd like to discuss this further, shoot me an email directly or give me a call. I don't look back on this same Trulia posting for Answers or REPLIES posted after mine.

Emily S. Knell
EmilyKnell1@yahoo.com
562-430-3053 c
Realtor Since--- 1996
Realty ONE Group
BRE# 01211967
0 votes
Sabrina All…, Agent, Yorba Linda, CA
Thu Nov 21, 2013
Please contact me and I would be more than happy to sit down and talk to you , no obligation at all. I live in Yorba Linda and I love it here. I would be more then Happy to show you around Yorba linda as there are different areas, from new to older homes, single story, to double story homes. Lake/ no lake.....and so on. Also if you are 55 years and over , you may be able to take the tax bracket from your old home and transfer it to your new one. I would be more than nappy to show you around and discuss your options. 714 814-2807.
0 votes
Ted Schafer, Agent, Anaheim Hills, CA
Thu Nov 21, 2013
Hi Mary Lynn,

I noticed you have a Fallbrook Address, and say you have a home currently in Tustin Ranch. It is not clear to me what you are trying to accomplish. Do you plan on selling Tustin Ranch to get lower price on a large home? You'd be correct that comparable home and lot size in TR vs Yorba Linda is greater. Typically the age of the homes in Yorba Linda are older. There are new areas in Yorba Linda that have homes but there is less price differential between TR and YL. I've sold homes in YL and the surrounding area, East Orange, Orange Park Acres and would be glad to meet with you to discuss what you'd like to accomplish with no obligation. Then you can decide what next steps should be that are in YOUR BEST INTEREST.
Ted
Bureau of Real Estate Lic # 01236586
714 306 4269
0 votes
Bob Phillips, Agent, Rancho Santa Margarita, CA
Thu Nov 21, 2013
Hi Marylynn,

You've received a few good answers. I have some non-biased information for you. ( Non-biased because I don't customarily work either in Tustin Ranch, or in Yorba Linda. Can I work in both of those areas? Of course - I'm licensed to sell properties anywhere in California. Frankly though, I try to stay in my neck of the woods, in South County.)

First piece of advice. Choose ONE Realtor, from either area, to serve all your needs. Most of us have our area of specialization, either attached to our name, or easily found within our profiles, which you can read by clicking on our name.

Of the agents who have responded to you - as I'm writing this - one has Yorba Linda attached to her name, and Cyndy SAYS that she has experience in both areas, AND asks you a very important question, regarding Proposition 60 which might apply to your situation, although I doubt it as you purchased your present property only 13 years ago.

Also, bear in mind that the agent you choose doesn't have to be a Trulia forum agent - this is just one of the ways to choose an agent to work with.

Another piece of advice, negotiate with the agent you choose - you SHOULD be able to negotiate some commission rebates or reductions, on BOTH transactions, if you end up selling one, and buying another.

Last piece of advice, if you can buy the new property without selling your present one, you can make your present house a rental, if you feel comfortable being a landlord. Most of us agents can handle ANY of these scenarios, and can advise you objectively, with YOUR best interests in mind.

Good luck in finding an excellent connection and getting some answers to your questions and options.
0 votes
Nicole Fedor…, Agent, Santa Ana, CA
Thu Nov 21, 2013
Hello!
There are a few things to consider when making this decision. The best thing you can do is work with a reputable Realtor (such as myself), who can provide you with all the information necessary to make the best decision for YOU and your husband. Believe it or not, YOU are the only one who can answer this question!

My job as a Realtor to give you the following:
- Competitive Market Analysis and Seller's Net Sheet on your current home in Tustin Ranch
- Dedicated Time to tour properties in Yorba Linda, so you can see first-hand what you will be moving to. Market information on Yorba Linda for you to determine if its a good investment.
- Options, such as renting out the Tustin Ranch home, and purchasing a smaller home (this will give you some residual income, while continuing to appreciate in value, and allow you to move back into the home, should you choose to).
-Professional guidance in the decision-making process.

I would love to work with you! Contact me to get the process started!

Nicole Fedorchek, Realtor
Tarbell, Realtors
714-914-5097
realtornicolef@gmail.com
0 votes
Joe Van Foss…, Agent, Fullerton, CA
Thu Nov 21, 2013
I think you'll find Yorba Linda to be a very nice city and there are likely plenty of areas that will work for you. There are several 3000+sf homes in YL that start under $1M. If those houses work for you and you like Yorba Linda, it's probably not a bad idea. Depending on your current home, you may be able to get it all done with plenty extra cash in the bank.

Below I've linked all of the properties currently on the market in Yorba Linda with 3000sf or more. If you have any questions about the homes or would like to see them, please get in touch. My office is in Yorba Linda.

Best,

Joe Van Fossen
Keller Williams Realty
19631 Yorba Linda Blvd, Ste A
Yorba Linda, CA 92886
(714) 584-7154
joe.vanfossen@gmail.com
0 votes
Amir Maloumi, Agent, Yorba Linda, CA
Thu Nov 21, 2013
Hi
Yorba Linda is located in North Orange County. Very south-after area to live in. the average price per square foot in Yorba Llinda is around $333. if you are retiring then you will be looking for a single level house to save you going up and down the stairs. In Yorba Linda there also many equestrian estates with larger lots. all parts of Yorba Linda are nice, there are newer built and older built homes.
I like to show you 5 different homes in Yorba Linda, that would be a good start.
0 votes
Victoria Alw…, Agent, Yorba Linda, CA
Thu Nov 21, 2013
Hello Marylyn:

It is definitely smart thinking to be planning for more enjoyable retirements years.

You can certainly, find a comfortable home in a nice area in beautiful Yorba Linda. There are a lot of factors to consider here like the value of your present home, the value of the new home, the term of the new loan and your current balance, etc. Besides the square footage, what other features would like to have in your new home? What are your present hobbies or past time activities today in which Yorba Linda may complement your lifestyle?

I am certainly available for a free consultation. Please feel free to call me without obligation and we can go over some numbers for your specific situation.

Thank you,

Victoria Always, REALTOR
714-742-8844
victoria@allaboutdreamhomes.com
0 votes
Joe Homs, Agent, Laguna Hills, CA
Thu Nov 21, 2013
marylynndatoc,

Lots of questions that need an answer and lots of options.

What is your current interest rate?
What are your current taxes?
How long have you owned the home?

Give me a call and we can discuss your options.

Joe Homs Realtor
949-625-4533
Web Reference:  http://Thehomsteam.com
0 votes
Karen Fenn, Agent, Anaheim Hills, CA
Thu Nov 21, 2013
Hi Mary Lynn,

Congratulations to both of you on your retirement! If you want to have the same size home as you currently own in Tustin Ranch, I'd need to assess the value of your current home, and discuss the amenities you're looking for in a new home to determine if your mortgage payment would be less.

There are many nice areas in Yorba Linda, in fact the whole city is really nice! There are housing tracts very similar to Tustin Ranch, and then more "nonconforming areas" where you could get horse property and larger lots. It all depends on what you're looking for, and I'd be happy to help you with your move.

There is a lot to consider since you're retired and wanted to enjoy your free time, possibly traveling? While 3000 square feet is a nice size for a home, do you want to maintain and clean that size home during your golden years? Also, you might want to consider a single story vs. a two story so you're comfortable in the home if any health issues arise.

Please give me a call so we can review your options. I look forward to talking with you!

Thank you,
Karen Fenn
714-742.3997 Cell
Karen@karenfenn.com
0 votes
Connie Bramb…, Agent, Rancho Cucamonga, CA
Thu Nov 21, 2013
Hi Mary,
Yorba Linda is a beautiful area with many types of homes to offer. There are many newer homes in the city near the Black Gold golf course with beautiful views. There are most certainly 3000 square foot homes in the area.
What you really should do if you are thinking of making a move would be to have a Realtor out and evaluate the market value of your home.
At the same time we can leaf through what is available in the Yorba Linda area or any other area you may be considering for your new home.
We would be happy to come out at your convenience and go over things with you.
Or if you prefer, we can meet at our office in Yorba Linda and show you what is there so you can make a more informed decision.
Please give me a call,
Connie Bramble
Prudential CA Realty
714-337-8718
0 votes
Abraham Lee, Agent, Tustin, CA
Thu Nov 21, 2013
Hi Marylynn,
There are plenty of nice places in Yorba Linda. I would be happy to interview with you if you are looking for an agent.
I am in the top 1% of agents in the country. My office is located in Tustin on Irvine bldv however I sell home throughout all of North Orange County.
Please contact me at you convenience.
Best,
Abraham Lee
714.514.1766
0 votes
Cyndi Mino, Agent, Huntington Beach, CA
Thu Nov 21, 2013
Hi. What price do you consider to be a "cheaper home"? Are you also aware of Prop 60/90? If anyone on Title is over 55 and your county participates (which OC does) and if you buy a home of equal or lesser value than the current home you sell, you can transfer your current tax basis.

I'd like to discuss this, and other options with you, so please call, email or text me. I lived and worked in Yorba Linda for 25 years and just moved back to the beach, so I know that city well. I also work with a lot of buyers and sellers in the Tustin Ranch/Irvine neighborhoods.

Cyndi Mino
First Team Real Estate
714-349-2424
Cyndimino@gmail.com
Web Reference:  Http://www.cyndimino.com
0 votes
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