While watching the San Diego Chargers get beat by the Rams yesterday, I had to shy away from the TV and do something else. I decided to research some real estate facts for Lake Elsinore, CA and more specifically zip code 92532.
Currently there are 218 “Active” homes for sale; “Active” meaning they are still on the market and accepting offers. The least expensive home for sale is priced at $51,990 with the most expensive at $495,000. The average list price for Lake Elsinore, CA (zip code 92532) is $223,024. Not too bad considering on average this will get you 4 bedrooms and 3 bathrooms!
With these low prices combined with record low interest rates, it’s a no brainer if you’re looking to buy in Lake Elsinore, CA (zip code 92532) or really anywhere else in CA. CA real estate is on sale!
Using the average list price from above, your down payment with FHA financing would be 3.5% of the sales price which equals $7,805. Your monthly payment including property taxes, private mortgage insurance and homeowner’s insurance will be $1,535.37. Not bad, considering for the price of rent you can own.
Contact me if you’re interested in learning more about the real estate opportunities in Lake Elsinore, CA.
This is Ryan Smith from Temecula, CA singing off until next time……
*The information above is deemed reliable and correct. The housing numbers were gathered from our local Multiple Listing Service (MLS) on 10/17/2010. The rate used to figure the monthly mortgage payment was 4.375%. This rate is not guaranteed, please consult with a mortgage professional. The monthly payment may increase if there is a Home Owners Association fee and depending on the tax rate. Please consult with a Realtor for more information.