NY to SoCal..where to live?? (Corona, Laguna Niguel: real estate, foreclosures, rent)

[MDtech123]

Hi everyone, I'm new to this forum and am trying to get some advice on where I should concentrate my SoCal research on. I live in NY (long island) with my fiance who is originally from Laguna Niguel, and we are contemplating a move back to the area. We can't afford to live close to the coast but are looking for a happy medium. Our budget will be 300-400k and would like to be as close to her godparents who live in Rancho Santa Margarita. Where would it be possible to live within this budget, preferably in a house not a condo. We will be renting for a bit when we get there, and then hope to buy. Thank you in advance.

[bhcompy]

300-400k is pushing it for a nice area at current prices i would say. you could probably find a house in santa ana at that price, maybe in anaheim and garden grove too, but they aren't in the best of areas. you may be able to find a duplex or something in aliso too? if you want a nice house, you may want to try temecula. its an hour or two drive over ortega hwy, but nicer neighborhoods(be leary of neighborhoods full of foreclosures) and nicer housing.

[BRinSM]

if you rent for a year or so, im certain that opportunities will become available in your price range by this time next year.

[MDtech123]

Yes we plan on renting for a year or so, and hope prices come down, I just want to be sur that when the time comes I can afford a decent house. What does everyone think about areas to the west such as lake elsinore, Corona, chino hills etc. how far is the drive down ortega say fro Rancho Santa margarita to lake elsinore, or the drive from corona to irvine or corona to dana point.(no traffic, as well as during rush hour) What im really triing to get at is would it be feasible to live in say corona and work in irvine and have family and friends in RSM?

[EscapeCalifornia]

Originally Posted by MDtech123

Yes we plan on renting for a year or so, and hope prices come down, I just want to be sur that when the time comes I can afford a decent house. What does everyone think about areas to the west such as lake elsinore, Corona, chino hills etc. how far is the drive down ortega say fro Rancho Santa margarita to lake elsinore, or the drive from corona to irvine or corona to dana point.(no traffic, as well as during rush hour) What im really triing to get at is would it be feasible to live in say corona and work in irvine and have family and friends in RSM?

You'd be setting yourself up for a life spent in traffic. The 91 freeway is one of the most congested roads in the country. Ortega is a dangerous 2 lane mountain road. If you work in OC and have family in OC, live in OC.

[MDtech123]

I refuse to pay 500k+ for a 1500 sqft house. Just trying to find area most convenient to the OC without being overpriced.

[BRinSM]

all of the new cities that are way back in the foothills are much cheaper than irvine and newport. ladera ranch and RSM will definitely be in your price range in the near future. as for the commute times from corona to irvine, it's probably 30-40 minutes with no traffic and 1.5 hours in traffic. the toll road will shave some time off, but it is expensive and you still have to get out of corona before you get on it.

[MDtech123]

Ideally i would love to be in RSM, I have visited and my fiance has friends there but house still average over 500k I need like 380k so unless they drop another 25% in value im not living there, I think in a year to 1.5 years rthe market will be 10% lower then it is currently, but cant seee it going more then that.

[bhcompy]

you may want to look south in capistrano or oceanside or something. Not sure what real estate pricing is like down there, but i would assume its cheaper than the areas around RSM

[BRinSM]

then maybe the move to CA isn't such a good idea after all.