Affordable home prices lure millennials to Ontario, CA

NEW -> Contingent Buyer Assistance Program
After the 20% down payment, Shwetz said, they pay about $100 more a month for their mortgage payment than they were paying to rent an 800 square-foot apartment in Costa Mesa, which is a short 45-minute drive away.
Click to expand...
Trying to decide if this is a legit article or a paid advertisement for New Haven.  If I moved 45 minutes from my church and friends, I would soon have a new church and new friends. 
 
you get what you pay for

oVDMexT.png
 
The issue with Ontario is that there is no direct train to OC.  So if you live in Ontario and work in Irvine, taking the train to work is not do-able due to lengthy transfers.  But if you live in Ontario and work in LA, then that's probably fine -- train from Ontario East station to Union Station is about 1 hr.  From Ontario to City of Industry is only 20 mins by train.
 
45 minutes??  ???.

More like two hours to clock in at work at 8am and another two hours getting back.  After accounting for gas, taxes, toll, maintenance, and time it's a total loss.
 
These commuting homebuyers would be better served if there was a puddle jumper from Ontario International to JWA, then Uber to the office than to drive. 2 hours is average to best case given the location. Amortized for time, gas, wear and tear, quality of life, schools, etc - as mentioned earlier, this is a complete loser of a deal.

Riverside/SB's problems have long been tied to a lack of concerted efforts to bring high quality jobs to the IE. If the powers that be would just dump an ocean of cash and concessions at companies to relocate, they'd have a better chance of surviving as a business hub rather than bedroom community for LA and OC.

My .02c
 
Ontario and Eastvale are becoming super popular among mid tier Chinese buyers.
China Airlines just recently moved all the flights from LAX to Ontario airport.
I think there will be an influx of FCBs. Home prices are still cheap here and Eastvale has good schools scoring mostly 8 and 9 out of 10.
 
Kenkoko said:
Ontario and Eastvale are becoming super popular among mid tier Chinese buyers.
China Airlines just recently moved all the flights from LAX to Ontario airport.
I think there will be an influx of FCBs. Home prices are still cheap here and Eastvale has good schools scoring mostly 8 and 9 out of 10.
Click to expand...

For those not savvy enough to have investment property in other states, is Ontario a good place in California to invest?  Anything other cities around 300-400k with possibility to break even? 

I don't want merced/Bakersfield type, something with possible appreciation
 
Look at The Preserve in Chino. There are some new developments out there that is attracting Chinese buyers. It is Chino Hills HS which is a plus over just regular Chino.
 
Cares said:
Look at The Preserve in Chino. There are some new developments out there that is attracting Chinese buyers. It is Chino Hills HS which is a plus over just regular Chino.
Click to expand...

This development started in the last bubble around 2006. So they still selling these nowadays after 12+ years. That will tell you something.
 
I know people who live in Eastvale.  They have year round school because there are too many kids @ elementary level.
I think some Irvine schools have gone to year round as well.
 
zubs said:
I know people who live in Eastvale.  They have year round school because there are too many kids @ elementary level.
I think some Irvine schools have gone to year round as well.
Click to expand...
https://www.lennar.com/new-homes/california/inland-empire/eastvale/sendero/solana

fellow ti'ers... I'll need to look into more details, but what do you guys think of this?
something new in eastvale or that chino preserve better?

Based on greatschools, Eleanor Roosevelt looks like a 8 school, not bad

There was another forum posted about a newer construction in santa ana that rented well too, but that was $599k, is this a good buy under $400k?

Thanks in advance
 
I bought 2 newish SFR's in Chino near Home Depot 6-7 years ago when they were still $280-$300K.  Major problem with insects and birds.  We had to hire people to install bird spikes, a neighbor's house has roof covered in white bird droppings.  Our tenant was freaking out with bird droppings and broken eggs all over the yard.  We also had someone who chained their truck to the community mail box, ripped it out of the concrete and stole the whole thing.

On the plus side it's very easy to find tenants.  People move in an out all the time.
 
SoclosetoIrvine said:
https://www.lennar.com/new-homes/california/inland-empire/eastvale/sendero/solana

fellow ti'ers... I'll need to look into more details, but what do you guys think of this?
something new in eastvale or that chino preserve better?

Based on greatschools, Eleanor Roosevelt looks like a 8 school, not bad

There was another forum posted about a newer construction in santa ana that rented well too, but that was $599k, is this a good buy under $400k?

Thanks in advance
Click to expand...
There is a small pocket of Santa Ana (92705 north of Floral park) that I like more than Eastvale and Chino preserve for rental property.
I like the preserve but it's more inconvenient to get to the freeways compared to Eastvale.
The Lennar new home site seems to be good. Much closer to Ontario and Rancho Cucamonga.
If you are speculating on FCBs,Eastvale is a hot spot for Chinese buyers with already over 30% Asian population. ( vs about 13-15% for Chino)
My father in law has 2 single family rentals in Eastvale and they have been pretty good.
 
Kenkoko said:
SoclosetoIrvine said:
https://www.lennar.com/new-homes/california/inland-empire/eastvale/sendero/solana

fellow ti'ers... I'll need to look into more details, but what do you guys think of this?
something new in eastvale or that chino preserve better?

Based on greatschools, Eleanor Roosevelt looks like a 8 school, not bad

There was another forum posted about a newer construction in santa ana that rented well too, but that was $599k, is this a good buy under $400k?

Thanks in advance
Click to expand...
There is a small pocket of Santa Ana (92705 north of Floral park) that I like more than Eastvale and Chino preserve for rental property.
Click to expand...

You mean those lofts near Memory Ln?
 
You must log in or register to reply here.
Back
Top