Tuesday, March 29, 2011

The Cheapest House For Sale in Orange County - What You Get For The Price of a New Truck

As a follow up to the Most Expensive Home For Sale in Orange County, we wanted to also share The Cheapest House (not a condo or mobile home) for sale in Orange County. Thought OC was nothing but tract homes and gated communities? Not here! You literally will have zero neighbors other than the squirrels, coyotes, and rattlesnakes. This 1 Bedroom 700sqft house is 5 miles down a dirt road in the middle of Trabuco Canyon.
Sound interesting? Always thought of opening up your own moonshine still? Not so fast there Jed Clampet, the National Forest has special use restrictions on this home. First and foremost, you MUST have a primary residence elsewhere. In other words, they don't want you making this your main home and starting a new career in the extraction of Trabuco Tea.

How does that work? How can they enforce it? The catch is the house is on leased land and carries a use restriction for use as a temporary shelter for hikers, fisherman, and other nature users.

Unique property features include:

Water and Propane tank
Solar Power
Next to a seasonal stream
Hiking distance to Holy Jim Falls
Showings arranged with Local Fire Marshall

If you're interested in seeing the home, you'll need to make sure you have a vehicle suitable for off road use as the driveway is literally a bumpy 5 mile dirt road.  

13 Holy Jim
Trabuco Canyon, CA

Friday, March 25, 2011

For Sale - 351 N. Ford Ave #234 Fullerton CA 92832 - $99,900

For Sale - 351 N. Ford Ave #234 Fullerton CA 92832 - $99,900

Senior Community (55+ yrs only). Highly desired 1 bedroom condo at Downtown Fullerton's most popular Senior Community. Fullerton Fountains is in the city of Fullerton which is near the cities of Brea, Yorba Linda, Anaheim, Placentia, La Habra, and Buena Park. Unit is on mid level (2nd floor) in the north building. This lovely 1 bedroom condo has spacious living room and kitchen, newer stove, newer AC, private balcony, refrigerator, is directly adjacent to association sun deck, and is in very good condition. Association amenities include Pool, Spa, Gated Parking, Clubhouse/Meeting Rooms. Secured Buildings, BBQ's, and Sundeck. This community is in Downtown Fullerton and very conveniently located near shopping, restaurants, grocery stores, schools, churches, and libraries. Again, this is a Senior Community only which means you can't live here if you are under 55 (or 45 if you're with somebody 55+).

                  351 N. Ford Ave #234
Fullerton CA 92832

Only $99,900
1 Bedroom
1 Bath
462 sqft of living space
Gated Parking
Water and Gas paid by HOA
HOA dues $210 per month

Thursday, March 24, 2011

The Most Expensive Home For Sale in Orange County - What You Get For a Paltry $37mil

What is the most expensive home for sale in Orange County? At this moment, it is this one: Villa del Lago, at an asking price of ONLY $37,000,000. :)

Villa del Lago has been a development project that started back in 2003 when the land was purchased from the Irvine Company. The property has been the subject of much controversy as the developer is allegedly in default with the bank who offered the construction loan of roughly $20,000,000 (which developer claims was never lent in full). The property has come down from the previous asking price of $57,000,000 and is considered to be at risk of foreclosure.

All that stuff aside, the property itself is amazing. 3 levels, 8 bedrooms, 11 bathrooms, parking for 17 cars, and over 18,258 sqft of living space. Sitting on nearly 12.5 acres of land in Newport Coast, the grounds include private lake with fountain, equestrian ring, tennis courts, private wine vineyard, pool pavilion. wine cave, and guest house.

 But what about the price and is it right?  I'm guessing if you're like me and have to ask, it probably doesn't matter for you either. But just for fun, we did some research and the results are interesting. We looked at the most recent sales in the area and found that the most expensive home sold in the past year was right around $18,000,0000. This was a cliff side home in Corona Del Mar with dramatic ocean views, 7,000sqft of living space, and under a half acre lot. If we go back to 2009, we can find one of the highest sales to ever take place when a Harbor Island Estate in Newport Beach sold for $26,000,000 giving the buyers about 11,000 sqft of living space.

How much per month? Don't worry, you (or anybody else) can't get a home loan for this kind of money but if you could finance the entire thing, the monthly payment would be a very reasonable (wait for it...) $219,000!

While the price of this home is certainly out of scale for most of Orange County, an asking price like this is nothing out of the ordinary in places like Beverly Hills or Malibu. Do I think its a little high. Yes I do, especially given the fact that its twice the price of the last most recent comparable and we're not in Malibu. Still, it is definitely more home and a much larger lot in an area where land is insanely valuable. So to be fair, it really is hard for anybody to judge the value on this home given that nothing similar may have ever sold on the market. But if I were pressed, I'll bet they get about $28 million in the end for this one.  
Property listed by McMonigle Group, Inc

Saturday, March 19, 2011

18520 Sandolo Rd Yorba Linda, CA - Our Pick of the Week 3/19/11

18520 Sandolo Rd Yorba Linda, CA
Price $1,300,000

5 Bedroom 6 Bath view home with over 4,000 square feet of living space. This home is only one year old, built by Toll Brothers in the Vista Del Verde Community of Yorba Linda. Vista Del Verde is still a new community but has been maturing very well the last few years. We really like this floorplan, one of the largest available in the area, and think the owners and builders did a good job with just the right amount of upgrades. Recent comps show that the price is close to the market value for a view home of this size so we think this could be a real good deal for somebody. The home is located walking distance to the clubhouse at Black Gold Golf Course and the views are southwest facing.

Property listed with Prudential CA Realty