Orange: Single Family Homes for less than $400k
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.
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
755 N Shirley Dr, Orange 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
3544 E Burly Ave, Orange 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
4444 E Euclid Ave, Orange 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 said:
great cartoon choice!
October 9, 2008 9:14 AM
Julie Lance said:
It’s about how it is these days, isn’t it?!
October 9, 2008 9:27 AM
RN said:
The problem is that people will bid way over the asking price so don’t be fool by the low listing price.
October 9, 2008 9:48 PM
Julie Lance said:
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.
October 10, 2008 8:16 AM
SoCalJim said:
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.
October 10, 2008 10:02 AM