San Clemente: A small, sleepy community located in South Orange County, California. As of 2005, the city boasted a population of 65,900. It's just south of San Juan Capistrano and just north of the Northern tip of San Diego County, it is known for its ocean, hill, and mountain views, pleasant climate and Spanish Colonial style architecture and was home to the Nixon Western White House.
Click photo to view properties
CNBC predicts a second dip in housing sales which means more foreclosures and more displaced homeowners. Google March 23rd Gary Schilling interview.
California has a 900 mile coastline and NO ONE is capable of building anymore coastline. The Los Angeles Basin is bordered by the mountains on the east, the Pacific Ocean on the west, San Diego on the south and Malibu on the north. The warm desert breezes run into the cool ocean breezes and create a Mediterranean climate that everyone in the world to aspires to experience. However, right now, California real estate is experience the same downturn that every place in America is currently experiencing. The farther down the property values descend during this economic slowdown (the Great Recession of 2006-2020?) the more properties which will fall below the "underwater line". This means that the loans on the property are larger than what can be paid by selling the property at current market value (CMV). Apartment Building Investments in Orange County CA are going to be a spectacular move in the very near future and will begin their upside value appreciation as the single family market continues to deteriorate. The more homeowners who lose their homes to foreclosure or short sale, the more apartments will be needed. Building new apartments in North Orange County, CA is nearly out of the question because the cost of small vacant parcels makes the cost of new construction prohibitive. Over the past 20 years the Cities have created such stringent "off street" parking restrictions that most of the older 4 Plex sized parcels no longer qualify without a costly building code "variance". So, buy Orange County Apartment Buildings before the prices and interest rates go up, again. Call me Now!
Comments(2)