AFFORDABLE homes in Orange County - yes, they exist!

(cross-posted from http://www.countyofcastles.com/)

Back on June 5th, I wrote a post about buying a home in South Orange County for under $300,000. Of course there were 1- and some 2-bedroom condos under that price, and today there is an even greater selection. But the REAL surprise for me, and advantage for today's buyer, is that some 3-bedroom condos are nearing that price floor. Yes, you heard it here: 3 bedrooms for around $300,000. Would you believe a 3 bedroom, 2 bath home in ALISO VIEJO for $305,000?!? Well, believe it kids! (Oh, and did I mention the detached 2-car garage?)

Now, don't get me wrong, that is by no means the average price for that community. But there is one REO property that happens to be listed that low. What amazes me is that it's still availible... there just aren't enough buyers on the market for even smoking hot deals like this one to get snapped up quickly like you would expect. I can tell you this: if I had investment capital lying around, that home would no longer be on the market. With the right amount of down payment, you could get that property to cash flow in the current rental market. Or, with significantly (!) less down, a first-time homebuyer could afford a 3-bedroom home that will provide them enough room to grow to wait out the remainder of the slow market and see some significant gains before needing to upgrade.

Are you an investor or first-time home buyer looking for great deals in the current market? I specialize in moderate-to-entry-level homes in Orange County. Contact me, and let's get looking today!