patrick.net

Actually Norco is kinda interesting; my sister lived about a mile south in Corona last decade so I got to ride my bike around it in the summer of 2004 (seems like yesterday, le sigh).

Here's an example property @ $425,000:

http://www.redfin.com/CA/Norco/180-Wild-Horse-Ln-92860/home/6488029

See that path in front of the house? It's a HORSE TRAIL.

.75 acres is 4 or 5 decent-sized lots and Corona has grown into Norco now so it's almost urban with tons of shopping. Not many places you can ride your horse to a ChickFilA.

This house sold for $600 & $900K last decade. My sisters' old place (decent but half the size and 1/4th the acreage) can sell for around $250K, so I don't see a big problem with $425K. Bargain if anything at 4% rates.

Thedude73, what was the price back in peak years for said home? Any redfin link for us?

Remember to check out the Dept of Education's API (Academic Performance Index) for the locale you are considering.

http://api.cde.ca.gov/AcntRpt2010/2009Base_Co.aspx?cYear=&cSelect=33,RIVERSIDE

Note:

In unofficial parlance, the 700's = D/C, 800's = C/B, 900's = B and A level students

The API used to give a better view of troubled areas for potential homeowners to avoid, however since 2002/3, the test has been messed with thereby giving academically troubled areas better scores than they really should have. Called "teaching to the test" or something....

If it were me, I'd check out the local schools in person. Last time I was in Norco, nearly all of the public schools seemed inner city to me and not places I would send my children.

~Misstrial

Home Schoolin' be OK tho.

edit: with HORSES!

seaside says

Thedude73, what was the price back in peak years for said home? Any redfin link for us?

I'll have to look that up tomorrow. However, the realtor said that this house was in the $640K range when new ~5 years ago. It has a small pool and horse areas, but the barns, paddocks, and even the pool pumps and equipment were stripped. No appliances, and the pool and hot tub were infested with huge tadpoles preparing to become frogs!

I'm sorry, but $425K, even for a house in a "novelty" town like Norco, is still ridiculous when just down the road one can buy the same type of house in the low $200s. Maybe not with a horse trail in their front yard, but some are nearby.

Misstrial says

Remember to check out the Dept of Education’s API (Academic Performance Index) for the locale you are considering.
http://api.cde.ca.gov/AcntRpt2010/2009Base_Co.aspx?cYear=&cSelect=33,RIVERSIDE
Note:
In unofficial parlance, the 700’s = D/C, 800’s = C/B, 900’s = B and A level students
The API used to give a better view of troubled areas for potential homeowners to avoid, however since 2002/3, the test has been messed with thereby giving academically troubled areas better scores than they really should have. Called “teaching to the test” or something….
If it were me, I’d check out the local schools in person. Last time I was in Norco, nearly all of the public schools seemed inner city to me and not places I would send my children.
~Misstrial

No kids yet, and most likely will only have one, so this isn't something we're concerned about. It's mostly the idea of being around horse people and also close to work.

I was looking at prices in Victorville which is in the Inland Empire and I can find some 2800 sq. ft. homes at $125K and up.

jrankin says

I was looking at prices in Victorville which is in the Inland Empire and I can find some 2800 sq. ft. homes at $125K and up.

Victorville is not quite the "Inland Empire", it's more like halfway to Vegas, well past San Bernardino on I-15 and about 54 miles east/northeast of Norco. San Bernardino is pretty much the end of the "Inland Empire".

I'd love for a house in Norco to be $125K, but I'd settle for $250 or less, not $425-$475K! My question is, who's buying these homes, because you can look on Zillow and Redfin and find that someone is buying them at these prices.

You simply CANNOT compare horse property in CA near any sort of town to a regular house. There's almost no horse property left anywhere, let alone near town and any sort of job centers.

Who is buying these homes? HORSE PEOPLE who are paying many hundreds of dollars a month to board a single horse.

Why do YOU want horse property?

TheDude73 says

Misstrial says

Remember to check out the Dept of Education’s API (Academic Performance Index) for the locale you are considering.

http://api.cde.ca.gov/AcntRpt2010/2009Base_Co.aspx?cYear=&cSelect=33,RIVERSIDE

Note:

In unofficial parlance, the 700’s = D/C, 800’s = C/B, 900’s = B and A level students

The API used to give a better view of troubled areas for potential homeowners to avoid, however since 2002/3, the test has been messed with thereby giving academically troubled areas better scores than they really should have. Called “teaching to the test” or something….

If it were me, I’d check out the local schools in person. Last time I was in Norco, nearly all of the public schools seemed inner city to me and not places I would send my children.

~Misstrial

No kids yet, and most likely will only have one, so this isn’t something we’re concerned about. It’s mostly the idea of being around horse people and also close to work.

So you just want to "be around horse people" or do you actually have horses. Because if you do not have horses PLEASE do not buy horse property, you ruin what is left for people like myself who are horse people and want some areas to remain zoned for horses. All the people who bought in Orange Park Acres to "be around horses" and have big lots (but don't actually own horses) have totally ruined the community.

If you do own horses, then you know damn well why the property has such a larger price tag, you could be saving thousands on horse board.

You're not going to be able to get $250K when that's the going price for houses on the other side of I-15 with half the interior space and one-fifth the acreage.

A 15 year loan on $250,000 has a cost-of-money of $833/mo and a house at that price has a total cost of ownership of around $1200/mo.

http://www.zillow.com/homedetails/1132-Bayfield-Dr-Corona-CA-92880/17782416_zpid/

$1300/mo for the above house was a f----ing steal.

Tude says

TheDude73 says

Misstrial says

Remember to check out the Dept of Education’s API (Academic Performance Index) for the locale you are considering.
http://api.cde.ca.gov/AcntRpt2010/2009Base_Co.aspx?cYear=&cSelect=33,RIVERSIDE
Note:
In unofficial parlance, the 700’s = D/C, 800’s = C/B, 900’s = B and A level students
The API used to give a better view of troubled areas for potential homeowners to avoid, however since 2002/3, the test has been messed with thereby giving academically troubled areas better scores than they really should have. Called “teaching to the test” or something….
If it were me, I’d check out the local schools in person. Last time I was in Norco, nearly all of the public schools seemed inner city to me and not places I would send my children.
~Misstrial

No kids yet, and most likely will only have one, so this isn’t something we’re concerned about. It’s mostly the idea of being around horse people and also close to work.

So you just want to “be around horse people” or do you actually have horses. Because if you do not have horses PLEASE do not buy horse property, you ruin what is left for people like myself who are horse people and want some areas to remain zoned for horses. All the people who bought in Orange Park Acres to “be around horses” and have big lots (but don’t actually own horses) have totally ruined the community.
If you do own horses, then you know damn well why the property has such a larger price tag, you could be saving thousands on horse board.

Thanks for ASSuming.

We have 4 horses. Have had them for years. We rent a 1.5 acre place in Lake Elsinore.

What is this place, the home for jackasses??

TheDude73 says

Tude says

TheDude73 says

Misstrial says

Remember to check out the Dept of Education’s API (Academic Performance Index) for the locale you are considering.

http://api.cde.ca.gov/AcntRpt2010/2009Base_Co.aspx?cYear=&cSelect=33,RIVERSIDE

Note:

In unofficial parlance, the 700’s = D/C, 800’s = C/B, 900’s = B and A level students

The API used to give a better view of troubled areas for potential homeowners to avoid, however since 2002/3, the test has been messed with thereby giving academically troubled areas better scores than they really should have. Called “teaching to the test” or something….

If it were me, I’d check out the local schools in person. Last time I was in Norco, nearly all of the public schools seemed inner city to me and not places I would send my children.

~Misstrial

No kids yet, and most likely will only have one, so this isn’t something we’re concerned about. It’s mostly the idea of being around horse people and also close to work.

So you just want to “be around horse people” or do you actually have horses. Because if you do not have horses PLEASE do not buy horse property, you ruin what is left for people like myself who are horse people and want some areas to remain zoned for horses. All the people who bought in Orange Park Acres to “be around horses” and have big lots (but don’t actually own horses) have totally ruined the community.

If you do own horses, then you know damn well why the property has such a larger price tag, you could be saving thousands on horse board.

Thanks for ASSuming.
We have 4 horses. Have had them for years. We rent a 1.5 acre place in Lake Elsinore.
What is this place, the home for jackasses??

F you for calling me a jackass for NOT assuming anything. I asked you, it was a simple question. You said nothing about actually owning horses.

Personally, if you have 4 horses, then you are the jackass coming here asking a retarded question and whining about horse property being more expensive than a non-horse zoned area.

And btw, you are also the idiot owning 4 horses and unable to afford a 400k house.

Tude says

And btw, you are also the idiot owning 4 horses and unable to afford a 400k house.

Tude says

And btw, you are also the idiot owning 4 horses and unable to afford a 400k house.

Right pal. We can afford a $600K house with the 3X income consideration, it's just that we don't want to max out what we can afford. You see, jackass, I have some sense so as to not blow my entire income on a house, especially a piddly 0.50 acre, 2800 sq. ft. repo missing half of the goodies.

Now I see what "Tude" means...short for "bad attitude". If you live in Norco and represent the types of people there, then perhaps we should reconsider.

Homes are overpriced there, plain and simple, and the real idiots are those paying $425K for a house that won't be worth $300K in 6 months to a year. You're just pissed because you know that the more the values drop, the less your crapheap is worth, and the more chance you'll have at being another one of those fools that moves out, steals appliances, and ends up renting because you're upside down and barely making ends meet.

"realtors are listing these homes in areas of SoCal (Inland Empire and surrounding areas) at still-ridiculous prices, and oddly enough, people are still buying them,"

If people are buying the houses, then they are not being listed at ridiculous prices.