Orange: Single Family Homes for less than $400k

Courtesy Slate Magazine

Cartoon courtesy Slate Magazine

After my post last week “Santa Ana: Single Family Homes for less than $300k,” I set out this week to find similar deals in Orange.  Well, folks, I did find some homes that were under $300k, but none that I would consider buying or posting to you all suggesting any of you should (yeah, I’ve got your back).  In case you’re curious, here are the ones I did find… they’re below $300k and, yet, some of them are still overpriced :  A two-bedroom on Center Ave ($224,900), a three-bedroom on Donneybrooke ($250,000), a two-bedroom on Hewes ($250,900), a two-bedroom on Parker ($274,900), and a two-bedroom on Hill ($299,000).

While I think below $300k is a great deal in Santa Ana, I’m leaning toward thinking that below $400k is a great deal for Orange.  Not all cities are created equal.  Don’t even ask me what I think would be a great deal in Newport Beach!  Below are some deals I found in this week’s price reductions and new listings.  I’m guessing we’ll see these type of properties drop below $300k before this whole housing mess is over with.

  1. 225 S Feldner Rd, Orange, CA 92868 (3 bed/2 bath; 1,350 sq ft house; 6,000 sq ft lot; built in 1960)
    • Price History:
      • Sep 30, 2008: Listed for $391,900
      • Oct 7, 2008: Reduced  to $342,900

  2. 755 N Shirley Dr, Orange, CA 92867 (3 bed/1 bath; 998 sq ft house; 6,025 sq ft lot; built in 1955)
    • Price History:
      • Feb 21, 2008: Listed for $515,000
      • Apr 10, 2008: Reduced to $469,000
      • Aug 26, 2008: Reduced to $429,000
      • Oct 06, 2008: Reduced to $349,900

  3. 3544 E Burly Ave, Orange, CA 92869 (3 bed/2 bath; 1,303 sq ft house; 7,770 sq ft lot; built in 1963)
    • Price History:
      • Date N/A: Listed or reduced to $571,000
      • Sep 10, 2007: Reduced to $565,000
      • Oct 19, 2007: Reduced to $500,000
      • Nov 9, 2007: Status changed from active to contingent (likely accepted an offer/in escrow)
      • Nov 10, 2007: Status changed back to active (offer probably fell through)
      • Jan 16, 2008: Reduced to $470,000
      • May 28, 2008:  Status changed from active to contingent (likely accepted an offer/in escrow)
      • Date N/A: Taken off the market
      • Aug 16, 2008: Put back on the market, listed at $387,900 (likely under new agent)
      • Oct 8, 2008: Status changed back to active (after being off market), listed at $387,900

  4. 4444 E Euclid Ave, Orange, CA 92869 (5 bed/3 bath; 1,909 sq ft house; 6,500 sq ft lot; built in 1964)
    • Price History:
      • Just listed on 10/7/08 for $399,777
  • Dominic

    great cartoon choice!

  • http://orangecounty.redfin.com/blog/author/julie.lance Julie Lance

    It’s about how it is these days, isn’t it?!

  • RN

    The problem is that people will bid way over the asking price so don’t be fool by the low listing price.

  • http://orangecounty.redfin.com/blog/author/julie.lance Julie Lance

    I know that used to be the case when the market was hot, but is it still? I rarely see/hear of people bidding over asking anymore. Only rarely (and I mean rarely) do I see a bidding war happen.

    Four years ago, agents would list their homes low on purpose to create hype and a bidding war. And it worked! I put in an offer of $270k for a place listed at $250k (because my agent was told there were already 10 offers on the table), and was up to $285k before I pulled out of the race. Oh, those frenzied times.

    However, nowadays, with so much inventory, this is a risky strategy for sellers. Buyers aren’t as willing to “go for it” as they used. Now they want all the bells and whistles… and for a discount.

  • SoCalJim

    If you are in a bidding war in this market, you need your head examined. The RE facade is being revealed. If this market crash and credit crunch (as a result of overpriced RE) does not tell you that RE continues to implode, I guess you are an ostrich or simply lacking of intelligence and common sense. Major RE correction continuing. Simple fact. Maybe everyday Joes do not see it since they are not financially sophisticated, but when you see people with healthy six figure incomes saying so long to their nice houses, you know there is a LONG way to go, which is consistent with the fact that the run up was completely out of line with historical norms. Add the crashing stock market and strict lending, housing has nowhere to go but down. Again, if you don’t see this, you are blind, ignorant and in need of financial life lessons.