IMO Oceanside is a bit overripe for cheap buyers. It is attracting a lot of investor attention at the moment, and REOs in decent shape get bombarded with multiple bids. Most of the good short sales have been tied up in offers too, leaving only the non-serious sellers and those hampered by delusional lenders/servicers.
That area of Oceanside has an iffy reputation, but that particular house seems to be in one of the better parts of that area.
Neighborhoods are funny things though. (For example, I live in a mini-ghetto in what is otherwise one of Orange County’s most affluent ZIP codes.) Drive through the surrounding area at night and on weekends to get a better feel for it.
And remember to check the flood maps to see if you’re in a flood zone.
