"I dub this property Rancho Santa Margarita's Bargain Home of November, 2008."

Earlier in November there was a condo on Baya in Rancho Santa Margarita that was listed as a short sale for $149,000.  The property is now in escrow but is still accepting back up offers.  I will be watching this particular property very closely to see just how low the short sale lender was willing to go to unload the property.  If it goes at $149,000 I'll be amazed.  I think it will be slightly higher. 

But that property is old news now.  The new title holder for the Least Expensive House For Sale in Rancho Santa Margarita award is a 650 square foot, 1 Bedroom condo on Via Prada.  The price?  Just under $135,000.  Unbelievable! 

One thing is for sure:  in the one bedroom condo arena we are getting very close to the bottom of the market.  We have now reached the point where investor interest is making a come back.  With prices this low a savvy investor can actually make a small return on investment.  What a concept!  An investment property with a positive ROI (return on investment).

Along the same lines, parents who have children who are full time college students should ask their tax professional and financial planner if it makes financial sense to purchase a bargain priced 2-3 bedroom condo using an FHA "kiddie condo" loan.  This was very popular up until a couple of years ago, when ridiculous home prices drove the monthly housing expense through the roof.  I think with prices as low as we're seeing them now, it is likely that these types of investors will re-enter the market at any moment.

For information about Rancho Santa Margarita or to search the MLS for Rancho Santa Margarita Homes please visit RSM Lifestyles.

Take the mystery out of purchasing Short Sales & REO Bank Owned Homes in Rancho Santa Margarita. Ask me the five steps you can take to increase the chances your short sale or REO offer will be accepted.