Pheasant Creek Condos in Lake Forest, CA. is a beautiful and tranquil community located close to the corner of El Toro Rd. and Marguerite Parkway and is just down the street from the internationally known Saddleback Valley Church. This condominium community was built by Sterling homes and construction began in 1980 and the last condos were completed in 1983. This fine community contains 256 condo units and boasts of a meandering creek with waterfalls that runs throughout the neighborhood.
Pheasant Creek condos incorporate 3 basic floor plans and each floor plan has an upper and lower option as listed below:
- Plan A - lower: 1 Bedroom, 1 Bath, 610 square feet
- Plan A - upper: 1 Bedroom, 1 Bath, 610 square feet
- Plan B - lower: 1 Bedroom, 1 Bath, 710 square feet
- Plan B - upper: 1 Bedroom, 1 Bath, 710 square feet
- Plan C - lower: 2 Bedrooms, 2 Baths, 940 square feet
- Plan C - upper: 2 Bedrooms, 2 Baths, 940 square feet
Every Condo has an laundry area within each unit, and some of the units come with a detached enclosed garage. The association includes a sparkling pool, heated spa, tennis courts and basketball courts. As of the date of this article the association dues are approximately $280 per month (subject to change) and include water, trash pickup, hazard insurance and general exterior maintenance.
Because of their relative affordable price and great location, Pheasant Creek condos in Lake Forest, CA. have been popular with first time home buyers. Buyers can use conventional financing as well and 3% down FHA loans, 0 % down Veteran (VA) loans and the CalHFA (CHFA) loan. The CHFA loan program is a little known loan government subsidized program geared for first time home buyers (ie; can't have owned a home in less then 2 years) which provides 0% down financing at below market rates amortized over 30 years. For example, on the day of this article, the fixed interest rate was 6% with Zero down payment.
Today, there are 11 Pheasant Creek condos active for sale ranging in price from $276,000 for a 1 bedroom, 1 bath unit up to $375,000 for a 2 bedroom, 2 bath, 950 square foot floor plan. Also on this day, there are 5 condos sold In Escrow in Pheasant Creek that range in price from $270,000 for the 1 bedroom, 1 bath, 710 square foot floor plan on up to $368,000 for the 2 bedroom, 2 bath model.
In the past 6 months, there have been 13 Pheasant Creek condos that have sold and closed escrow. These condos ranged in price from $262,500 for the 1 bedroom, 1 baht, 710 square foot plan, on up to $380,000 for the 2 bedroom, 2 bath floor plan. The median price for these 13 condos was $285,000 and the average price was $310,926. the average price per square foot was $363/SqFt and the average days on market was 61 days.
Pheasant Creek in Lake Forest, CA. is serviced by the award winning Saddleback Valley Unified public school district. K through 6th grade classed are conducted at the Montevideo elementary school. The middle school in La Paz Junior high school and the upper classes are conducted at Trabuco Hills High School.
If you would like to view all homes listed for sale in Lake Forest, please visit our website at: Lake Forest Real Estate. If you would like to get more information about the CalHFA zero down loan for first time home buyers, please email us at: Info@SearchOCHomes.com
