From the category archives:

2 – OC Real Estate Markets

Retirement (55+) Communities in San Juan Capistrano

by Vincent Bindi on December 3, 2007

San Juan Capistrano has just two residential for ownership retirement communities.  One is called San Juan Hills and the other is San Juan Hills East.  San Juan Hills is located on San Juan Creek Rd. just east of Hwy 5, and is surrounded by the San Juan Hills public golf course.  San Juan Hills East is located just 1/2 east in the same general vicinity.

San Juan Hills retirement community consists of a variety of 2 and 3 bedroom attached single story condos with 2 car garages.  These attached homes were constructed over a period of time starting in the mid 1960′s until the early 1970′s.  The four floor plans are as follows:

  • Plan 1 – 2 bedroom, 2 bath, 1,300 square feet, 2 car garage.
  • Plan 2 – 2 bedroom, 2 bath, 1,450 square feet, 2 car garage.
  • Plan 3 – 2 bedroom, 2 bath, 1,680 square feet, 2 car garage.
  • Plan 4 – 3 bedroom, 2.5 bath, 1,730 square feet, 2 car garage.

Over the years, many of these basic floor plans have been remodeled and expanded, offering a wide variety of floor plan options.  The Association dues range in the low $200′s per month range at the time of this writing.  These dues include community swimming pool, basic fire insurance, senior community, landscaping and exterior maintenance.

San Jaun Hills East was developed in the late 1970′s and the last homes were completed in the early 1980′s.  These single story attached homes consist of 3 basic floor plans as follows: 

  • Plan A – 3 bedroom, 2 baths, 1,750 square feet, 2 car garage.
  • Plan B – 3 bedroom, 2 baths, 1,735 square feet, 2 car garage.
  • Plan C – 2 bedroom, 2 baths, 1,325 square feet, 2 car garage.

The association dues for San Jaun Hills East are in the mid $250/mos price range and include basic fire Insurance, exterior Maintenance, swimming Pool, Sauna, Trash, landscaping maintenance, Senior Community, Storage Area, and Water.  Prices currently range from $450,000 up to $600,000.

For more information about retirement homes for sale in San Juan Capistrano, feel free to contact us at:  949-388-3396, or email us at:  Info@SearchOCHomes.com , or Text Message at:  949-283-4679. 

55+ Retirement Communities in San Clemente, CA.

by Vincent Bindi on October 4, 2007

Senior citizens have not had many housing options in San Clemente, until just recently with the development of Talega.   Now there are 3 newer developments in Talega for the active retiree, and 2 older communities for those over 55 year of age, that are located close to the beach.  The Talega 55+ communities are called: Waterleaf, Seagarden and Wavecrest and the two older beach close retirement communities are called Colony Cove and Bay Cliff Village, for a total of 250 housing units.  These communities require that at least one occupant is 55 years of age or older and are outlined below:

Waterleaf 55+ – Talega, San Clemente, CA.:

  • Type of Housing:  Single Family Detached, with homes ranging in size from 2,032 SqFt up to 2,503 SqFt and 2 car attached garages.
  • Number of Homes in this Retirement Community:  75
  • Prices currently Range from:  $650K to $1.5Million.
  • Year Built Range:  2001′ – 2003′
  • Home builder:  Standard Pacific Homes
  • Security:  Automatic Car Gate
  • Association Dues Range (subject to change):  $310 to $330
  • Association Amenities:  Amenities include Talega Gallery and encompass – Club House and Rec Facility, Gym/Exercise Room, swimming Pool and Spa, Sport Courts, Tennis, putting course and more.
  • General Location:  close to Avenue Pico and South Calle Alicante, and is adjacent to the Talega golf Course
  • Streets that comprise subdivision:  Camino Alenza, Camino Del Prado, Camino Botero, and Calle Galleria

Seagarden 55+ – Talega, San Clemente, CA.:

  • Type of Housing:  Attached Townhomes, with condos ranging in size from 1,578 Square Feet up to 2,045 Square Feet and 2 car attached garages.
  • Number of Homes in this Retirement Community:  41
  • Prices currently Range from:  $540,000 to $850,000.
  • Year Built Range:  2001′ – 2003′
  • Home builder:  Standard Pacific Homes
  • Security:  Automatic Car Gate
  • Association Dues Range (subject to change):  $350 to $380
  • Association Amenities:  Amenities include Talega Gallery and encompass – Club House and Rec Facility, Gym/Exercise Room, swimming Pool and Spa, Sport Courts, Putting Course, Tennis, and more.
  • General Location:  close to Avenue Pico and South Calle Alicante, and is adjacent to the Talega golf Course
  • Streets that comprise subdivision:  Corte Pinturas and Calle Galleria
Wavecrest 55+ - Talega, San Clemente, CA.:
  • Type of Housing:  Single Family Detached, with homes ranging in size from 1,747 SqFt up to 2,092 SqFt and 2 car attached garages.
  • Number of Homes in this Retirement Community:  70
  • Prices currently Range from:  the low $700K’s to the high $900K’s.
  • Year Built Range:  2002′ – 2003′
  • Home builder:  Standard Pacific Homes
  • Security:  Automatic Car Gate
  • Association Dues Range (subject to change):  $310 to $340
  • Association Amenities:  Amenities include Talega Gallery and encompass – Club House and Rec Facility, Gym/Exercise Room, swimming Pool and Spa, Sport Courts, Tennis, putting course and more.
  • General Location:  close to Avenue Pico and Camino La Pedriza, and is adjacent to the Talega golf Course
  • Streets that comprise subdivision:  Corte Sagrada, Corte De Vega, Corte Ladino and Corte Miro.
Bay Cliff Village 55+ – north San Clemente, CA.:
  • Type of Housing:  Single Family Detached, with homes ranging in size from 1,016 SqFt up to 1,266 SqFt and 2 car attached garages.
  • Number of Homes in this Retirement Community:  28
  • Prices currently Range from:  $420K to $550Ks.
  • Year Built Range:  1962′ – 1963′
  • Home builder:  Douglas Construction
  • Security:  Not Gated
  • Association Dues Range (subject to change):  $210 to $230
  • Association Amenities:  Club House and Rec Facility.  
  • General Location:  close to Pacific Coast Hwy (PCH) and Camino Capistrano, and just 0.2 miles from the beaches and adjacent to Shorecliff Golf Course.  
  • Streets that comprise subdivision:  Monte Vista.
Colony Cove 55+ – north San Clemente, Ca.:
  • Type of Housing:  Single Family Detached, with homes ranging in size from 1,064 SqFt up to 1,260 SqFt and 1 car attached and detached garages.
  • Number of Homes in this Retirement Community:  approximately 50
  • Prices currently Range from:  $550K to $600K.
  • Year Built Range:  1964′ – 1967′
  • Security:  Not Gated
  • Association Dues Range (subject to change):  $230 to $255
  • Association Amenities:  Club House and Rec Facility and swimming Pool.  
  • General Location:  West of Hwy 5, and close to Pacific Coast Hwy (PCH) and Camino San Clemente, and just 0.2 miles from the beaches.  
  • Streets that comprise subdivision:  Camino San Clemente. 

Housing is relatively expensive, but San Clemente CA. makes a great place for retirement.  San Clemente is southern most City in Orange County California, and is a coastal town just north of Camp Pendleton.  Due to it’s coastal location, the weather is very temperate year round, with average temperatures ranging from 60 degrees at night to 80 degrees in the day during summer months, and from averages of 55 degrees at night to 70 degrees during the day during the winter months.  Also, the annual rainfall is low as well as low humidity.

Another great benefit to retirement here is that San Clemente has a very low crime rate, and the air is very clean which is important if you enjoy outdoor activities.  With these 4 benefits of temperate year round weather, low annual rainfall, low crime and clean air, make San Clemente a fantastic location for active seniors. 

If you would like to view all 55+ retirement homes and condos for sale in San Clemente, please visit our website at San Clemente Viejo Real Estate and request a free and no obligation custom search of all 55+ retirement communities.  If you would like for us to show you the homes for sale in these communities, please feel free to call us at: 949-388-3396 or drop us an email at:  Info@OCRealtyGroup.com 

CalVet Home Loans for Orange County, CA. Veterans

by Vincent Bindi on September 24, 2007

It’s funny how things often come around full circle.  15 years ago the Zero Down Veteran Administration (V.A.) Loan was about the only loan program available which allowed home buyers to purchase a home with 100% financing… as long as you were a veteran of course.  Starting about 10 years ago, the zero down conventional loan was created and more and more mortgage lenders offered this type of financing.  So for the past 10 years or so, the VA loan was largely ignored by many mortgage brokers in favor of the zero down conventional loan which had fewer qualification restrictions (the main restriction being having Veteran status), and allowed for a higher purchase price.  Well, we have now gone full circle, for the zero down – 100% financing conventional loan is just about extinct. 

Today, the VA loan is one of the few loan programs left that enables prospective home buyers to purchase with 100% financing, with the exception of the Acorn Loan and the CalHFA Loan..  And as fortune would have it, the state of California has teamed up with the Veterans Administration to offer a superior loan product called the CalVet Loan, which provides 3 very exciting zero down payment loan programs.   The other fortuitous event, is that home prices have now dropped about 10% in southern California, which gives many veterans a window of opportunity to purchase a home here in desirable Orange County, CA. using the Cal-Vet loan.  We’ll highlight the 3 basic CalVet Loan programs below.

The first program is a CalVet loan plan geared towards low income Cal Vet home buyers.  Of course, here in Orange County, the CalVet administration considers anyone individual making less then $$103,000 per year as a low income buyer, and any family making less then $121,000 per year as a low income family.  That allows many Veterans wishing to  to purchase a home in Orange ?county to qualify.  The exciting part is the this loan offers 5.25% fixed interest rate amortized over 30 years.  And it allows for a maximum purchase price of $521,000.  Also, one can have a credit rating as low as a 580 FICO score, and debt to income ratios as high as 55%.  That’s one great loan program made available to a very deserving group of individuals.

The second loan program we’ll highlight is one made available to Vietnam Vets.  This program has all of the great advantages as the above with the low 580 FICO score cut-off, and the high debt ratio with zero down.  But there is not maximum income restrictions and the interest rate is 5.5% fixed over 30 years.  Again, a fantastic opportunity for Vietnam Vets.

The 3rd loan plan is the basic Cal-Vet loan which again offers zero down – 100% financing for home purchase.  Plus the FICO score can be as low as 580, with 55% debt ratios.  The interest rate of this program is 6.55% fixed over 30 years with purchasing power up to $521,000.  (The rates, terms and conditions specified in this article are subject to change at anytime due to market conditions and CalVet guidelines)

You may ask, what can I buy in the desirable and high priced Orange County CA. real estate market ?  Well you would be surprised today as to what you can buy.  For example, today there are a total of 1,267 detached single family homes (SFR) available for sale throughout Orange County, CA.  Plus, there are 4,051 attached condos for sale with 2 bedrooms or more.  That’s are large selection of homes and condos to choose from.

If you would like more information about CalVet Loans here in Orange County, CA. please feel free to call us anytime at:  949-388-3396 or email us at:  Info@OCCalVetLoan.com .  Also, if you would like a list of all homes or condos for sale, that you could purchase using one of these Cal Vet loans, just contact as above.  If you would like to search on the Internet for all homes and condos for sale in Orange County, just visit our website at:  Orange County Homes for Sale

Paradise Pool Home for Sale on Kathleen Lane in City of Orange, CA.

by Vincent Bindi on September 14, 2007

Once you see the backyard of this 3 bedroom home for sale at 148 S. Kathleen in the City of Orange, you’ll cancel next years trip to Cancun and as well as annual passes to Disneyland.  This renovated  single story home has the most spectacular backyard swimming pool available for sale today in the City of Orange.  The owner spent over $100K on the pool and backyard landscaping and these fine upgrades can be purchased at just a fraction of the original cost, for this home is priced at just $649,000.

This absolutely stunning backyard paradise includes a pebble-tech pool with slide, arches, a grotto, cave, river, waterfalls and stamped concrete decking. This Shangri-La  includes a soothing heated spa and fire pit.  All new landscaping has been installed with auto sprinklers and plenty of Palm trees.

This home for sale at 148 S. Kathleen also has many other fine upgrades such as:  new Air Conditioning system and Force Air Unit,  extra wide driveway with Stamped concrete  driveway that has room for a boat or maybe a RV(?), new roll-up garage door,  smooth ceilings, newer paint, recessed lights, new dual pane windows, ceilings fans, hardwood floors, new sinks and faucets, new floor and door molding, granite tile surrounding the fireplace, and more.  The home consists of 3 bedrooms, 2 bath, 2 car garage and sits on a large 8,300 square foot flat lot that is fully fenced with a stamped stucco solid 6 foot high wall.

This home enjoys a desirable east Orange location that is just south of Villa Park, and close to Freeways, Orange Mall, Schools, St. Joseph’s Hospital, and Shopping.  The home is located in the respected Orange Unified School district and there are no association dues nor Mello-Roos associated with this fine home.  For more details and photos of this fine home, visit:  www.148Kathleen.com , or click here if you would like to view a Home Video Tour.

For a private showing of this exceptional home, please contact Vince or Suzie Bindi, at 949-388-3396 or email us at:  Info@SearchOCHomes.com

Retirement 55+ communities in Mission Viejo, CA.

by Vincent Bindi on September 7, 2007

There are numerous residential for purchase real estate options for seniors in south Orange County offering a wide range of prices, amenities and architectural styles.  This blog article will focus on the City of Mission Viejo.  These communities require that at least one occupant is 55 years of age or older.  Mission Viejo has 2 large 55+ communities called Casta Del Sol and Palmia, each of which is outlined below:


Casta Del Sol and Carmel 55+ Community:

  • Prices Range:   $430K – $700K
  • Association Dues Range:  $230 to $285
  • Year Built Range:  1972 to 1987
  • Gated:  Human Gate Guarded
  • Home Styles:  Single Family detached with 1 and 2 car garages ranging in size from 1,200 to 1,700 square feet.  Single family attached with 1 car garage ranging in size from 1,000 to 1,400 square feet.
  • Community Amenities:  Wimming Pool, Tennis Courts, Club House, Recreation  Facility, Gym/Exercise Room, Sport Court.  It’s also adjacent to Casta Del Sol golf course which has reduced rates for seniors.
  •  Number of Homes in Community:
    • Carmel – 192 Detached Homes – built by Mission Viejo Co.
    • Fiesta – 396 Detached Homes – built by Mission Viejo Co.
    • PUD – 748 Attached Homes – built by Mission Viejo Co.
  • Location:  Central Mission Viejo – East of Marguerite Pkwy , south of Alicia Pkwy and north of  Jeronimo 


Palmia Courts, Palmia Terraces, Palmia Heights and Palmia Vistas 55+ Communities:

  • Price Range: $425K – $900K
  • Association Dues Range:  $250 – $370
  • Year built: 1989 to 1997
  • Gated:  Human Gate Guarded
  • Community Amenities: Club House, Recreational Facility, Gym – Exercise Room, Tennis Courts, Swimming Pool, Spa, Bar-b-que.
  •  Number of Homes in Community:
    • Courts 1 & 2 – 268 Attached Homes – built by JM Peters.
    • Heights – 117 Detached Homes – built by UDC Homes.
    • Terraces – 157 Detached Homes – built by JM Peters.
    • Villas 1 & 2 – 252 Detached Homes – built by JM Peters.
    • Vistas – 119 Detached Homes – built by Brock Homes.
  • Location: North Mission Viejo by Santa Margarita Parkway and Monterey.  

Mission Viejo is located in southern Orange County California, about 10 miles east of the Pacific Ocean, 50 miles south of Los Angeles and 60 miles north of San Diego.  Due to it’s close proximity to the coast, the weather is very temperate year round, with average temperatures ranging from 60 degrees at night to 80 degrees in the day during summer months, and from averages of 45 degrees at night to 67 degrees during the day during the winter months.  Also, the annual rainfall is low as well as low humidity. 

Another great benefit to retirement here is that Mission Viejo has one of the lowest crime rates in the country, and the air is very clean.  With these 4 benefits of temperate year round weather, low annual rainfall, low crime and clean air, make Mission Viejo a great place for active adults who are looking for outdoor activities. Another cool little attribute of south Orange County living is that there are very few bugs flying around, and essentially no mosquito’s to bother with.

If you would like to view all retirement homes listed for sale in Mission Viejo, please visit our website at Mission Viejo Real Estate and request a free and no obligation custom search of all 55+ retirement communities.  If you would like for us to show you the homes for sale in these communities, please feel free to call us at: 949-388-3396 or drop us an email at:  Info@OCRealtyGroup.com 

3000 The Plaza – Irvine Condominium Tower

by Vincent Bindi on July 27, 2007

Many feel that 3000 The Plaza and The Plaza Irvine (5000 & 8000) are the most exclusive new high rise condominium towers in Irvine, CA.   These modern and luxurious triple high rise towers are located at the corner of  Jamboree and Scholarship, just west of the 405 freeway.

3000 The Plaza is located in the heart of the Irvine entertainment and business area, and conveniently close to John Wayne OC Airport, Newport Beach, UC Irvine, Fashion Island, dining, theater and South Coast Plaza. 
 
At the time of the writing of this article, prices range from the Mid $600K’s to $1 Mil for Residences A through C-1, and from $1 Million to $1.5 Million for Residences D through F, and the Penthouses run from $1.4Million on up to several Million.

Fore more information about 3000 The Plaza or to view any of the re-sale or new units for sale, please feel free to contact us at:  949-388-3396 or email us at:  Info@SearchOCHomes.com

The Metropolitan Condos, Irvine CA.

by Vincent Bindi on June 6, 2007

The newly developed residential high rise condo developments such as the Watermarke, Marquee Park Place, Avenue One and others have been the rage in Irvine lately.  But the first pioneering and successful high rise condo development  in Irvine was the Metropolitan, located on Martin Ave and close to John Wayne Airport. 

The human guard gated Metropolitan community offers a tropical ambiance and lush atrium’s.  These condominiums are located just minutes from freeways, John Wayne Airport, fine dining, world renowned shopping plazas, cultural venues and University of California Irvine. Given it’s convenient location to the Airport, the Metropolitan has been popular to home owners who travel frequently and to residents who work in the Airline industry.

The Metropolitan offers luxury resort type amenities such as; large swimming pool, spa, recreation center and gym fitness center.   The 98 condominiums of the Metropolitan were built in the mid 1990s by the distinguished builder Douglas Plaza Ltd. This fine community consists of several distinct floor plans to choose from as follows:

  • Plan A- 1 bedroom 1 bath, 934 sqft
  • Plan B- 2 bedrooms, 2 baths, 1,269 sqft
  • Plan C- 1 bedroom 1 bath, 808 sqft
  • Plan D- 2 bedrooms 2 baths, 1,326 sqft
  • Plan E- 2 bedrooms, 2 baths, 1,297 sqft

Each condo includes a deck as well as subterranean parking with lots of storage room. Home owners’ association dues are approximately $394 per month (subject to change) which includes maintenance of all community amenities such as club house/recreation facility, gym/exercise room, and landscaping.  Also included in the dues are property insurance, and trash service, and maintenance of the pool and spa. 

Given it’s convenient location to local restaurants and the John Wayne Airport, the Metropolitan has been popular to home owners who travel frequently and to residents who work in the Airline industry. For the 1 bedroom floor plans, prices have been currently ranging from $339,000 up to $430,000 depending upon it’s condition and location and view. For the 2 bedroom units, prices vary from $460,000 on up to $670,000 for the top floor penthouse models.   (Prices are subject to change over time)

The Metropolitan is serviced by the Santa Ana Unified School District. Primary grades are conducted at Monroe Elementary, and junior high is held at McFadden Middle School. Upper level grades are taught at Century High School.

If you would like more information about the Metropolitan, or if you would like to see any of the condos currently for sale, please feel free to call us at:  949-388-3396 or drop us an email at:  Info@SearchOCHomes.com   If you would like to view all condos for sale in Irvine, please visit our website at:  Irvine MLS

Orange County ACORN Loan offers 100% Financing and Much More !

by Vincent Bindi on June 1, 2007

No, this is not another zero down loan scam program… This is a legitimate government backed loan program designed to help California residents buy their first (or second) home.  The ACORN loan can be used to purchase single family homes (SFR) and condos, as well as manufactured (mobile) homes on permanent land (not leased land).   ACORN (Association of Community Organizations for Reform Now) loan program limits the purchase price of the home to $500,000 in Orange County, and the maximum income the buyer(s) can make is $109,620 in Orange County, CA.  In Riverside county the maximum income limit is $80,500.  The ACORN loan is similar to the CHFA loan, but has several advantages as outlined below: 

  • 100% Loan to Value, meaning Zero Down financing.
  • NO PMI is required (CalHFA requires PMI)
  • The ACORN loan in not based upon the buyers FICO credit score. There is no minimum FICO score required.
  • ACORN allows up to $1,200 per month in undocumented income.
  • Recent Bankruptcy is allowed if the borrower has re-establish credit.
  • 3 Months of mortgage payments in the bank at closing in not required.
  • The Seller can credit the home buyer up to 3% to 4% of the purchase price, or the Selelr can pay for all of the Buyers actual closing costs.
  • A minimum of only $500 is required from the home purchasers own funds.
  • Ratios of income to debt can sometimes be as high as 60/60.
  • Public assistance and voluntary child support is counted as income.
  • There is no equity gain recapture clause as is the case with the CHFA loan.

This exciting home purchase mortgage program is not just limited to first time home buyers.  As long as the potential buyer does not own another home at the time of the application, they can qualify for the ACORN loan.

It gets even better.   This loan program is one single zero down loan and there is no second trust deed mortgage like many of the other 100% financing programs around today.  The interest rate is very low for this ACORN loan.  For example, at the time of the writing of this article rates were at 6.62% fixed interest for 30 years  (rates are always subject to change on a day by day basis).

What’s the catch you may ask ?  Well there isn’t one, except for the maximum income limits of the home buyer, plus the prospective home buyer must attend a mandatory 3 hour First Time Home Buyer education class.

If you would like to learn more about this little known exciting loan program, or if you would like to find out if you can qualify for this loan, please feel free to contact us at:  949-388-3396 or email us at:  Info@SearchOCHomes.com

 

Orange County Zero Down CalHFA Loan

by Vincent Bindi on May 6, 2007

There is a little know State of California government subsidized loan program available in Orange County, CA. called the CalHFA loan (CalHFA stands for California Housing Finance Agency), and is even called the CHFA loan for short.  This exciting loan program allows a buyer to purchase a home with Zero down payment, with a FICO score of around 630, and offers below market  fixed interest rate financing (today’s rate is just 5.75% and is subject to change), which is fully amortized over 30 years…  There are some limitations though that we will get into in just a moment… but first a segue regarding Zero down loans.

Lately, there has been a lot of bad press (deservedly so) regarding certain types of Zero Down loan programs here in Orange County… The problem has been primarily due to the lax underwriting standards in which buyers were able to get Zero down financing with FICO scores less then 620, and the borrower did not have to proof their income (this is called a Stated Income loan… essentially, you could just make up a figure).  To make matters worse, some of these loans offered adjustable rate mortgages, or worse yet, negative amortization loans, in which the loan balance would increase every month.  These issues are not a concern with the CalHFA loan as explained below.

Here are the basic qualifications and limitations of this fantastic loan program:

1.) First Time Home Buyer:  The State of California created this program to assist first time home buyers, therefore the prospective Home Buyer cannot have owned a home in the past 3 years.  The good news is, if you owned a home 4 years ago and sold it,  then you are eligible, as long as you have never used the CHFA loan before. 

2.) Income Limits:  Since this program is geared to assist first time homebuyers, the State has placed maximum income limits for CalHFA home buyers.  It varies by which county in California that the home is located in.  For Orange County, CA. the income limits for Moderate Income home buyers are as follows:   $103,920 for a 1 to 2 person family.  $121,240 for a 3 or more person family.  

3.) Credit Requirements:  The home buyer must be able prove their income with either W-2 forms from the employer or if self employed, one must produce 2 years of Tax Returns or 12 months of bank statement.  Secondly, the CHFA program only offers fixed interest rate loans, so one need not worry about rate increases down the road, nor negative amortization. The FICO score requirement varies, but typically a 630 or better FICO is sufficient.

4.) Sales Price Limits:  Again this program is designated for first time home buyers in Orange County, Ca. therefore the State of California does not intend to make this loan available for buyers who want to buy a $750K home.  The maximum price home that one can buy in Orange County using this CHFA loan is $571,278 for existing re-sale homes and condos, and $591,272 for new construction.

In addition, the CalHFA allows the Seller to grant the home buyer a credit through escrow that helps to pay for some of the Buyers closing costs.  Last year, we negotiated a purchase of a home for one of our clients using this CalHFA loan, and that buyers total home acquisition costs were just $767 !

CHFA does not loan money directly to consumers, but works through and uses approved mortgage lending institutions to qualify potential borrowers and to make the mortgage loans. The fee’s that these mortgage lenders may charge can vary from lender to lender, but the program is highly regulated by the State so the variation in fee’s are kept to a minimum.   There is some flexibility with regard to the FICO score.  If someone has a FICO score below about 620, it may still be possible to qualify for this loan depending upon the reasons for the lower FICO score. 

There is a Conventional CalHFA loan and a FHA based CalHFA loan.  Each have their advantages and disadvantages. There are other details and pertinent information regarding the CHFA loan, such as the potential of a Recapture Tax, Lower Interest Rates for Low Income buyers versus Moderate Income Buyers, High Cost versus Non High Cost Areas, special Lower Interest Rates for School Teachers in Target areas, and more.  But these topics are bit beyond the scope of this blog article.  There is also another little known government subsidized below market loan program, that is similar to CalHFA, and it is called the Acorn Loan program.

Fore more information about the CHFA loan here in Orange County, CA., or for a referral to several trusted Orange County CalHFA mortgage lenders, please feel free to call us at:  949-388-3396 or email us at:  Info@SearchOCHomes.com

Avenue One Condominiums, Irvine, CA.

by Vincent Bindi on April 26, 2007

There are re-sale and brand new condos available for sale at this time.  They range in price from a low of $369,990 for a 1 bedroom, 1 bath, 602 square foot condo on the first floor, on up to $735,990 for the largest 3 bedroom, 2 bath, 1,538 square foot floor plan. The average price per square foot for the condos currently for sale is $584/SqFt and the average days on market is 66 days. Below is the complete list of the condos currently for sale are Avenue One.

AddressBdrmsBathsStoriesGarageSqFtPrice
1231 Scholarship1131602$369,990
1150 Scholarship1131725$376,990
2119 Scholarship11G1602$429,999
2310 Scholarship1131725$437,000
2302 Scholarship22121,037$568,000
2406 Scholarship1111923$615,000
2402 Scholarship22T21,213$654,900
1418 Scholarship 29532321,538$725,990

To date, there have been a total of 7 re-sale condos that have sold and closed escrow at Avenue One  as listed below: 

AddressBdrmsBathsStoriesGarageSqFtPriceDays on Market
1125 Scholarship 1131725$402,99034
1117 Scholarship 1131725$405,9905
1138 Scholarship1131725$409,91323
1224 Scholarship 1131725$412,99015
1414 Scholarship1131846$503,63326
1334 Scholarship 22321,037$545,99040
1328 Scholarship22321,037$579,99076

The average price per square foot of these sold units is 482/SqFt, and the average days on market was 31 days.

There are two other high-rise condominium projects in the commerce area of Irvine that have also been popular with buyers.  One is named Watermarke condos and the other is Marquee Park Place.  If you would like to view all condos listed for sale in Irvine, visit our website at:  Irvine Real Estate. 

If you would like a private showing of any of the condos for sale in Avenue One, Watermarke or Marquee Park Place, please feel free to call us at: 949-388-3396 or email us at:  Info@SearchOCHomes.com  Since you found us via the Internet, we are offering a 1% rebate from the purchase price if you allow us to show you and represent you in the purchase of a brand new Avenue One condo.  This offer is valid for as long as the builder is offering new homes for sale.

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