Comments on South OC Real Estate Tracker: Turn and burned in Dana Point

Thanks for the update on Olinda being a bad street...

2008-08-22T22:12:43.403-07:00

Thanks for the update on Olinda being a bad street. I guess it is similar to Avenida Escalones in San Clemente which is their worst street.

Prices have still got to drop further. Someone with $100K income shouldn't have to buy a home in the hood!

That area of DP is crack alley

2008-08-22T11:11:24.933-07:00

That area of DP is crack alley

This house would not appeal to families with child...

2008-08-22T09:01:30.731-07:00

This house would not appeal to families with children. Besides being on a busy street with no yard, it is within the boundary of a Title 1 elementary school which is 80 % low income/Spanish speaking. Add in private school tuition for this one.

The bottom of the market continues to take lumps e...

2008-08-22T08:45:06.857-07:00

The bottom of the market continues to take lumps even in beach cities. Olinda is one of the worst streets in Dana Point's Lantern Village area. It's a mix of apartments along with SFH rentals and some sad resident owners. There is no parking anyplace on street for visitors because many of the apartments along Olinda are highly occupied.

I remember seeing three or four places for sale on Olinda recently. If you've got to live on one of the worst streets in Dana Point and you have to buy right now you can probably make a better deal than this one. I believe that $150 to $200 sq-ft is the target price for these neighborhoods. Then it might start coming close to cash flowing as a rental.