bsrsharma is right about them being way overpriced still. I am watching all 2 bedroom condos in this area of South OC, and there are only 7 for less than $275K. None has a garage. Some have no a/c. All are downstairs units in apartment-like complexes. So far the cheapest is advertised for $260K, but the broker tells me a cash offer of $230K would be accepted. It needs lots of work.
I am going to wait a while, until March 2008, before even beginning to seriously consider buying a condo in this area.
Patient renter in OC